Terms and Conditions of Sale Real Estate Foreclosure Auction 14-110 Lakefront Sporting Camps – Moosehead Lake RE: Sundown Cabins 3867 Rockwood Rd., Rockwood, Maine Wednesday, April 30, 2014 at 11AM 1. Date/Place of Sale: The Property shall be sold, subject to these terms and conditions, on Wednesday, April 30, 2014 commencing at 11:00 a.m. at 3867 Rockwood Road, Rockwood, Maine. 2. Terms of Sale: A. The sale is subject to all of those terms set forth in the advertisements of the public sale, including, but not limited to, the terms set forth below. Additional terms may be announced orally at the time of the sale. B. The Property shall be sold subject to and with the benefit of all development rights, easements, appurtenances, restrictive covenants, rights of way of record, and any easements, restrictions and rights of way which are of record or which are visible upon the face of the earth or as set forth in the Purchase and Sale Agreement, a copy of which is available from the auctioneer. C. The Real Estate (the “Property”) will be sold "AS IS, WHERE IS, AND WITH ALL FAULTS." Camden National Bank (the “Seller”) assumes that bidders have inspected the Property prior to the sale. The Property are offered for sale "AS IS, WHERE IS, AND WITH ALL FAULTS" unrepaired and without any express or implied warranties of any kind or nature. Square footage dimensions are approximate and should be independently verified prior to bidding. The Seller, its agents and subagents, assume no liability for errors or omissions in these Terms and Conditions of Sale or in any of the property listings or advertising materials, or in any representations made by any party. Although information has been obtained from sources deemed reliable, the auctioneer makes no guarantees as to the accuracy of the information herein contained or in any other property listing or advertising materials. Any information provided regarding the Properties are for informational purposes only, and cannot be relied upon for any purpose. No representations or warranties are made regarding any matter including, without limitation, the accuracy or completeness of any information or materials provided or any comments made by the auctioneer or by the Seller or by any other party, regarding the environmental, structural or mechanical condition of the Property. D. A deposit to bid of $20,000.00 must be deposited with the Auctioneer as a qualification to bid no later than April 29, 2014 at 5:00 p.m., EST. The deposit must be in the form of Certified Bank Check in U.S. Funds, or wire transfer, made payable to the auctioneer. The deposit to bid is nonrefundable as to the high bidder. Unsuccessful bidder's checks and or wire transfers will be returned immediately after the auction. Internet Bidders must also submit along with their deposit, a signed copy of the auction purchase and sale agreement to be held in trust by the Auctioneer. In the event an Internet bidder is the successful purchaser, the Auctioneer will enter the high bid amount on the purchase and sale agreement and return a fully executed copy to the successful bidder. Contact Auctioneer’s office at (207) 885-5100 for deposit instructions. An Internet provider fee of 1% of the purchase price ($5,000 cap) will be assessed by Proxibid. The successful online high bidder will be responsible to pay the Internet Provider fee. This fee shall be made payable to the Keenan Auction Company and is due at time of closing. E. Taxes and Other Assessments: Except as provided elsewhere herein, all real and personal property taxes, including taxes for the current year, any unpaid taxes for any prior year, any taxes paid by Seller within the past 60 days of the date of the public sale, and any other fees including water and sewer charges due to municipal or quasi-municipal corporations, or water and sewer charges paid by the seller within 60 days of the date of the public sale, will be the responsibility of the Buyer. The Buyer will be responsible for a 5.5% State of Maine Sales Tax that will be assessed on the value of any personal property that is being sold with the real estate. The 5.5% sales tax will be due from the Buyer at closing. F. The balance of the purchase price will be due at the Closing of the sale of the Property, which shall occur on or before thirty (30) days from the date of the public sale. At the Closing, the Buyer shall pay the balance of the purchase price, in certified U.S. funds. G. The deed to the Property will be by Quitclaim Deed Without Covenant. The high bidder shall at his/her cost pay all real estate transfer taxes (including the Seller’s share, if any), whether assessed to purchaser or Seller. H. The sale is subject to all of the terms set forth in the Purchase and Sale Agreement, the form of which is included in the Property Information Package. I. If the high bidder or high bidders default by failing to pay the purchase price in full within the time specified in the Purchase and Sale Agreement, or if a high bidder otherwise breaches these terms of sale. The Seller and the auctioneer may, in addition to all other remedies allowed by law or in equity, retain the full Deposit as damages. In addition, the Property may be resold and deficiency, together with all expenses and costs of resale (including attorney’s fees) will be paid by the defaulting high bidder. J. The Seller and the auctioneer reserve the right, and subject to applicable provisions of Maine Law, to: (i) refuse to accept any irregular bids or bids that do not comply with the terms of sale; (ii) hold periodic recesses in the sale process; (iii) amend the terms of sale orally or in writing, as they deem to be in the best interest of the Seller. K. A record of bidding will be maintained by the Seller and/or the auctioneer for their own use. L. Seller, and its assigns, reserves the right to bid without making the required deposit and, if Seller, or its assigns, is the high bidder, to pay for the Property with a credit against the debt owed to it. 3. Auction Procedure: Open and verbal. Unless otherwise stated, announcements made on the day of the sale will be subject to all printed material. The method, order of sale, and bidding increments shall be at the sole discretion of the auctioneer. The high bidder will be required to enter into a purchase and sale agreement with the Seller at the conclusion of the auction. 4. Disclaimer: All bidders are invited to inspect the Property and the public records pertaining thereto prior to making a bid. No warranties, guarantees or representations of any kind are made, and all warranties are disclaimed with respect to any improvements located on the Property, including improvements located underground, the location and/or boundaries of the Property or improvements thereon, title to the Property, environmental compliance, or compliance with any applicable zoning, land use or hazardous waste regulations, laws or ordinances. The Buyer shall assume responsibility and expense for any title search, title examination or title insurance. THE SELLER/AUCTIONEER EXPRESSLY AND SPECIFICALLY MAKES NO, AND SHALL MAKE NO, REPRESENTATIONS OR WARRANTIES REGARDING HAZARDOUS OR TOXIC WASTE, SUBSTANCES, MATTERS OR MATERIALS, AS THOSE TERMS MAY BE DEFINED FROM TIME TO TIME BY APPLICABLE STATE, LOCAL AND FEDERAL LAWS, STORED OR OTHERWISE LOCATED ON THE PROPERTY. 5. Risk of Loss: The risk of loss with respect to the Property shall be with the Buyer until the Closing shall occur. 6. Possession: Buyer shall only be entitled to possession at closing as set forth in the Purchase and Sale Agreement. 7. Applicable Law: You have signed a written binding contract agreeing to the Terms and Conditions of Sale, and understand that any bid you make falls under the Maine Auction Law, Title II, Section 2-328 of the Uniform Commercial Code, and the Statute of Frauds. Maine auctions are under the jurisdiction of the State of Maine Department of Professional and Financial Regulations, Board of Licensure of Auctioneers, 35 State House Station, Augusta, Maine 04330. 8. Bidder's Card: By signing for a bid number, the bidder has signed a written and binding contract agreeing to all of the terms and conditions set forth herein. If you do not agree with any of the terms or conditions set forth above, please return your bid number to the auctioneer immediately. 9. Conflict With Purchase and Sale Agreement: In the event of a conflict between these Terms and Conditions of Sale and the terms of the Purchase and Sale Agreement executed by the Seller and the successful bidder, the Purchase and Sale Agreement shall control. 10. Lead-based Paint and/or Lead-based Paint Hazards: Purchaser hereby acknowledges that he/she has waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards and has received a copy of the U.S. Environmental Protection Agency's pamphlet entitled "Protect Your Family From Lead In Your Home".