The incredible Good Evening Ranch near Summersville, WV - 400 Wonderful Acres with Improvements

AUCTION TERMS BIDDER PRE APPROVAL BY AUCTION COMPANY IS REQUIRED. A Property Information Package is available and documents must be completed and returned prior to bidding. Property: Property is owned by Thomas R. Kamm and deeded to Broken K, LLC. Preliminary Title Opinion will be available Property is located in Kentucky Tax District 5 of Nicholas County, West Virginia, Map 19 and Parcels 2, 2.2, 3.1, 4, 9 and 9.3. Parcel 2 consisting of 2.585 acres has been removed from this auction. Property is selling surface only and any available mineral rights of said property unless otherwise in written notice. The Auction Terms and Conditions (the “Auction Terms”) shall be deemed part of this Contract as if set forth in this Contract in their entirety. In the event of a conflict between the terms and conditions of this Contract and those of the Auction Terms, the terms and conditions of the Auction Terms shall govern. Offer, acceptance. As the high bidder at an auction of the property by Seller, recorded by the Auctioneer (‘Broker”), Buyer made and hereby makes an irrevocable offer (“offer”) under the terms of the auction. To purchase the property being offered and or described herein. The offer shall be irrevocable for 5 full business days from the date herein ending at midnight on the 5th full business day. Seller may accept the offer during this period or reject said offer A 10% Buyers Premium is in effect and shall be added to the auction block price to become part of the total contract deed price. Sale is subject to highly motivated Seller Confirmation of offer. The auctioneer reserves the right on behalf of the seller to advance the bidding. The property is sold AS IS/WHERE IS.Purchaser acknowledges that it has examined and inspected, and is satisfied with, the physical condition of the Property and the improvements thereon. PURCHASER EXPRESSLY AGREES THAT THE PROPERTY IS OR WILL BE SOLD “AS IS, WHERE IS, WITH ALL FAULTS”, WITHOUT ANY WARRANTY OR REPRESENTATION, EXPRESS, IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF CONDITION, HABITABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, AND SUBJECT TO ORDINARY WEAR AND TEAR OCCURRING AFTER THE DATE HEREOF. Purchaser further acknowledges that neither Seller nor Auction Firm have made or extended to Purchaser any representation, warranty or indemnity with regard to the environmental condition of the Property or with regard to its compliance with the Americans with Disabilities Act of 1990, if applicable, and Purchaser hereby assumes sole responsibility therefore, indemnifies and agrees to hold Seller and Auction Firm, and each of their affiliates, agents, directors, employees and attorneys harmless from and waives any right, action, claim or cause of action it or its successors or assigns may have now or in the future against Seller and Auction Firm, and each of their affiliates, agents, directors, employees or attorneys with regard thereto. If the improvements on the Property are damaged after the date hereof but before settlement, Seller may (but shall not be obligated to) attempt to repair the improvements and, at Seller’s sole option, there shall be a reasonable extension of the settlement date in which Seller may attempt to complete the repair. If Seller notifies Purchaser that Seller does not intend to attempt repair, or if Seller attempts but is not successful in effecting repair and so notifies Purchaser, within ten (10) days of either such notification Purchaser shall either (I) terminate this Agreement, in which case Purchaser shall be entitled to the return of the Deposit (less any accrued interest) and neither party shall have any further liability to the other, or (II) waive any objection to the damage and any right to reduce the Purchase Price, in which case Seller shall convey to Purchaser the Property with such damaged improvements as are then thereon and shall assign to Purchaser all of Seller’s right, title and interest to any insurance proceeds, if any, received or to be received in payment of damage to the improvements (but no other insurance proceeds, such as proceeds from damage to personal property). Settlement and Possession. Settlement shall take place on or before 30-45 days from Seller authorization at the offices of Purchaser’s attorney, who shall be the settlement agent in connection with this transaction for tax reporting purposes. Possession of the Property shall be delivered to Purchaser at settlement following payment of the Purchase Price, subject to the rights of tenants, if any. TIME IS OF THE ESSENCE AS TO THE COMPLETION OF SETTLEMENT. Title. Seller shall convey the Property to Purchaser by aWarranty deed are contingent upon Seller being able to convey good and marketable title to the Property subject, however, to the following (the “Permitted Encumbrances”): (I) matters that do not render title to the Property unmarketable; (II) the rights of tenants, if any; (III) the lien of ad valorem real estate taxes not yet due and payable; (IV) such state of facts as an accurate survey and physical inspection of the Property would reveal; and (v) ordinary and customary easements, encumbrances and other restrictions of record. If, prior to settlement hereunder, Purchaser identifies a title defect other than the Permitted Encumbrances, Seller shall have the opportunity, but not the obligation, to attempt to cure the title defect, and Seller may in its sole discretion extend the settlement date accordingly. If Seller does not elect to attempt to cure the title defect, or if Seller attempts but is not successful in curing the title defect, Purchaser shall have the option to; (1) terminate this Agreement, in which case Seller shall instruct the Auction Firm to return the Deposit (less any accrued interest) to Purchaser and neither party shall have any further obligation or liability to the other; or (2) waive the title defect and proceed to settlement hereunder, without any adjustment or modification of the Purchase Price. If an owner’s title insurance policy can be obtained without extraordinary exception or with affirmative protection over any title defect, Purchaser shall be required to waive its objection to the title defectIf Purchaser defaults hereunder, Seller may retain the Deposit and may also pursue such remedies as are available to Seller at law or in equity, including, without limitation, an action for specific performance. If Seller defaults hereunder, Purchaser’s sole remedy shall be the return of the Deposit and the Purchaser expressly and unconditionally waives and releases any other claim, demand injury, or cause of action, whether at law or in equity. A termination of this Contract pursuant to the termination provisions set forth in paragraph 4, 6, and 7, shall not be deemed to be a default of either party hereunder. Any notice, request, or demand required or permitted hereunder will be in writing and will be delivered by hand, sent by express courier service, or sent by U. S. certified mail, return receipt requested, postage prepaid, if to Seller, to c/o Riverbend USA LLC, 100 N. Monroe Street, Suite A, P.O. Box 800, Alderson, WV 24910 and if to Purchaser, to the address set forth below under the Purchaser’s signature, or to such other address as the party to receive such notice may hereafter specify by written notice to the other. Any such notice will be deemed given on the date of actual hand delivery, one (1) day after being sent by express courier service or two (2) days after deposit in the U. S. mail, certified. To register as a bidder for this auction you are required to deposit $100,000.00 in verifiable funds (cash/cashier's check/personal check with a bank letter of guarantee/or with Seller approval). This deposit will be returned to the registered bidder post-auction. The winning high bidder is required to provide a deposit (for a total deposit of $100,000) in verifiable funds as above. This amount will be held in escrow until closing. If you are bidding via Proxibid, you are required to have your $100,000.00 deposited with Riverbend USA by 10:00 am on Monday, September 30, 2013. Please contact Randy Burdette or Arabel Blumling for further information. The property is being sold by the boundary as described in the deed, approximately 402+/- acres. Closing on the real estate is 30-45 days after auction date. Purchase is responsible for paying ALL closing costs involved in this transaction, regardless of local custom; this will include but not limited to document recording, tax transfer stamps, deed preparation, trust deeds, title insurance, closing agent fee, recording fees, additional survey, title search, etc. The real estate is offered with highly motivated seller approval. Come prepared to buy at the auction. The bidder’s offer is irrevocable for 5 full business days after the auction, pending Seller approval or rejection of said offers. Agency Disclosure. Seller and Purchaser acknowledge and agree that the Auction Firm and any sellingbroker(s) have acted on Seller’s behalf as Seller’s agent in connection with this transaction. Seller and Purchaser also confirm that this disclosure of agency relationship has been made in writing. The seller authorises that the auctioneer may automatically increase the bidding on behalf of the seller in order to reach an acceptable price. Additional terms, or correction to these terms, will be included in the Property Information Package and all terms will be announced from the block on auction day. Broker participation is encouraged and invited. Please contact Randy Burdette, Riverbend USA broker, for terms and conditions. Miscellaneous. Except as set forth above, each party hereto represents that it has not involved anyagent, broker, or finder in this transaction and agrees to indemnify, defend, and hold the other party and the Auction Firm harmless from any claim in connection therewith. The provisions of this Contract shall survive settlement. The parties hereto acknowledge that neither has relied upon any oral representation of the other or of the Auction Firm, that no such oral representation will affect in any way the terms of this Contract and that this Contract represents the final and complete understanding between the parties. This Contract cannot be modified or amended, and no waiver or any provision hereof shall be effective, unless in writing executed by the parties hereto. This Contract shall be construed, performed and enforced in accordance with the laws of the State of West Virginia without regard to the conflicts of law’s provisions of West Virginia law. Except as provided in Paragraphs 6 and 7, the risk of loss or taking shall remain with Seller until settlement. This Contract shall inure to the benefit of and will bind the parties hereto and their respective heirs, personal representatives, successors and assigns. Purchaser may assign its rights under this Contract without the prior written consent of Seller and Auction Firm. Any such assignment to which Seller and Auction Firm consent shall not release Purchaser from any liability hereunder. This Contract may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Contract. Notwithstanding any other provision of this Agreement, or any agreements, contracts or obligations that may derive here from, nothing herein shall be construed to make the parties hereto partners or joint ventures or to render either party liable for any of the debts or obligations of the other party, it being the intention of this Contract merely to create the relationship of seller and purchaser with regard to the Property. All parties to this Contract have been represented by counsel or have had the opportunity to be so represented. Accordingly, the rule of construction of contract language against the drafting party is hereby waived by both parties. If any provision of this Contract or the application thereof is deemed unenforceable for any reason, the remainder of this Contract shall not be affected thereby and shall remain in full force and effect. Notwithstanding any mention of specific acreage in any description of the Property, the parties hereby agree that the Property is being sold in gross and not by the acre. The parties’ rights and obligations hereunder shall not be affected if a subsequent survey of the Property reveals a different acreage. TIME IS OF THE ESSENCE IN CONNECTION WITH THIS CONTRACT and this transaction must be closed on or before 30 -45 of sellers acceptance of offer. Terms updated September 10, 2013 Property: Property is owned by Thomas R. Kamm and deeded to Broken K, LLC. Preliminary Title Opinion will be available Property is located in Kentucky Tax District 5 of Nicholas County, West Virginia, Map 19 and Parcels 2, 2.2, 3.1, 4, 9 and 9.3. Parcel 2 consisting of 2.585 acres has been removed from this auction. Property is selling surface only and any available mineral rights of said property unless otherwise in written notice. The Auction Terms and Conditions (the “Auction Terms”) shall be deemed part of this Contract as if set forth in this Contract in their entirety. In the event of a conflict between the terms and conditions of this Contract and those of the Auction Terms, the terms and conditions of the Auction Terms shall govern. Offer, acceptance. As the high bidder at an auction of the property by Seller, recorded by the Auctioneer (‘Broker”), Buyer made and hereby makes an irrevocable offer (“offer”) under the terms of the auction. To purchase the property being offered and or described herein. The offer shall be irrevocable for 5 full business days from the date herein ending at midnight on the 5th full business day. Seller may accept the offer during this period or reject said offer A 10% Buyers Premium is in effect and shall be added to the auction block price to become part of the total contract deed price. The property is sold AS IS/WHERE IS.Purchaser acknowledges that it has examined and inspected, and is satisfied with, the physical condition of the Property and the improvements thereon. PURCHASER EXPRESSLY AGREES THAT THE PROPERTY IS OR WILL BE SOLD “AS IS, WHERE IS, WITH ALL FAULTS”, WITHOUT ANY WARRANTY OR REPRESENTATION, EXPRESS, IMPLIED, OR ARISING BY OPERATION OF LAW, INCLUDING, BUT NOT LIMITED TO, ANY WARRANTY OF CONDITION, HABITABILITY, MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, AND SUBJECT TO ORDINARY WEAR AND TEAR OCCURRING AFTER THE DATE HEREOF. Purchaser further acknowledges that neither Seller nor Auction Firm have made or extended to Purchaser any representation, warranty or indemnity with regard to the environmental condition of the Property or with regard to its compliance with the Americans with Disabilities Act of 1990, if applicable, and Purchaser hereby assumes sole responsibility therefore, indemnifies and agrees to hold Seller and Auction Firm, and each of their affiliates, agents, directors, employees and attorneys harmless from and waives any right, action, claim or cause of action it or its successors or assigns may have now or in the future against Seller and Auction Firm, and each of their affiliates, agents, directors, employees or attorneys with regard thereto. If the improvements on the Property are damaged after the date hereof but before settlement, Seller may (but shall not be obligated to) attempt to repair the improvements and, at Seller’s sole option, there shall be a reasonable extension of the settlement date in which Seller may attempt to complete the repair. If Seller notifies Purchaser that Seller does not intend to attempt repair, or if Seller attempts but is not successful in effecting repair and so notifies Purchaser, within ten (10) days of either such notification Purchaser shall either (I) terminate this Agreement, in which case Purchaser shall be entitled to the return of the Deposit (less any accrued interest) and neither party shall have any further liability to the other, or (II) waive any objection to the damage and any right to reduce the Purchase Price, in which case Seller shall convey to Purchaser the Property with such damaged improvements as are then thereon and shall assign to Purchaser all of Seller’s right, title and interest to any insurance proceeds, if any, received or to be received in payment of damage to the improvements (but no other insurance proceeds, such as proceeds from damage to personal property). Settlement and Possession. Settlement shall take place on or before 30-45 days from Seller authorization at the offices of Purchaser’s attorney, who shall be the settlement agent in connection with this transaction for tax reporting purposes. Possession of the Property shall be delivered to Purchaser at settlement following payment of the Purchase Price, subject to the rights of tenants, if any. TIME IS OF THE ESSENCE AS TO THE COMPLETION OF SETTLEMENT. Title. Seller shall convey the Property to Purchaser by aWarranty deed are contingent upon Seller being able to convey good and marketable title to the Property subject, however, to the following (the “Permitted Encumbrances”): (I) matters that do not render title to the Property unmarketable; (II) the rights of tenants, if any; (III) the lien of ad valorem real estate taxes not yet due and payable; (IV) such state of facts as an accurate survey and physical inspection of the Property would reveal; and (v) ordinary and customary easements, encumbrances and other restrictions of record. If, prior to settlement hereunder, Purchaser identifies a title defect other than the Permitted Encumbrances, Seller shall have the opportunity, but not the obligation, to attempt to cure the title defect, and Seller may in its sole discretion extend the settlement date accordingly. If Seller does not elect to attempt to cure the title defect, or if Seller attempts but is not successful in curing the title defect, Purchaser shall have the option to; (1) terminate this Agreement, in which case Seller shall instruct the Auction Firm to return the Deposit (less any accrued interest) to Purchaser and neither party shall have any further obligation or liability to the other; or (2) waive the title defect and proceed to settlement hereunder, without any adjustment or modification of the Purchase Price. If an owner’s title insurance policy can be obtained without extraordinary exception or with affirmative protection over any title defect, Purchaser shall be required to waive its objection to the title defectIf Purchaser defaults hereunder, Seller may retain the Deposit and may also pursue such remedies as are available to Seller at law or in equity, including, without limitation, an action for specific performance. If Seller defaults hereunder, Purchaser’s sole remedy shall be the return of the Deposit and the Purchaser expressly and unconditionally waives and releases any other claim, demand injury, or cause of action, whether at law or in equity. A termination of this Contract pursuant to the termination provisions set forth in paragraph 4, 6, and 7, shall not be deemed to be a default of either party hereunder. Any notice, request, or demand required or permitted hereunder will be in writing and will be delivered by hand, sent by express courier service, or sent by U. S. certified mail, return receipt requested, postage prepaid, if to Seller, to c/o Riverbend USA LLC, 100 N. Monroe Street, Suite A, P.O. Box 800, Alderson, WV 24910 and if to Purchaser, to the address set forth below under the Purchaser’s signature, or to such other address as the party to receive such notice may hereafter specify by written notice to the other. Any such notice will be deemed given on the date of actual hand delivery, one (1) day after being sent by express courier service or two (2) days after deposit in the U. S. mail, certified. To register as a bidder for this auction you are required to deposit $100,000.00 in verifiable funds (cash/cashier's check/personal check with a bank letter of guarantee/or with Seller approval). This deposit will be returned to the registered bidder post-auction. The winning high bidder is required to provide a deposit (for a total deposit of $100,000) in verifiable funds as above. This amount will be held in escrow until closing. If you are bidding via Proxibid, you are required to have your $100,000.00 deposited with Riverbend USA by 10:00 am on Monday, September 30, 2013. Please contact Randy Burdette or Arabel Blumling for further information. The property is being sold by the boundary as described in the deed, approximately 402+/- acres. Closing on the real estate is 30-45 days after auction date. Purchase is responsible for paying ALL closing costs involved in this transaction, regardless of local custom; this will include but not limited to document recording, tax transfer stamps, deed preparation, trust deeds, title insurance, closing agent fee, recording fees, additional survey, title search, etc. The real estate is offered with highly motivated seller approval. Come prepared to buy at the auction. The bidder’s offer is irrevocable for 5 full business days after the auction, pending Seller approval or rejection of said offers. Agency Disclosure. Seller and Purchaser acknowledge and agree that the Auction Firm and any sellingbroker(s) have acted on Seller’s behalf as Seller’s agent in connection with this transaction. Seller and Purchaser also confirm that this disclosure of agency relationship has been made in writing. The seller authorises that the auctioneer may automatically increase the bidding on behalf of the seller in order to reach an acceptable price. Additional terms, or correction to these terms, will be included in the Property Information Package and all terms will be announced from the block on auction day. Broker participation is encouraged and invited. Please contact Randy Burdette, Riverbend USA broker, for terms and conditions. Miscellaneous. Except as set forth above, each party hereto represents that it has not involved anyagent, broker, or finder in this transaction and agrees to indemnify, defend, and hold the other party and the Auction Firm harmless from any claim in connection therewith. The provisions of this Contract shall survive settlement. The parties hereto acknowledge that neither has relied upon any oral representation of the other or of the Auction Firm, that no such oral representation will affect in any way the terms of this Contract and that this Contract represents the final and complete understanding between the parties. This Contract cannot be modified or amended, and no waiver or any provision hereof shall be effective, unless in writing executed by the parties hereto. This Contract shall be construed, performed and enforced in accordance with the laws of the State of West Virginia without regard to the conflicts of law’s provisions of West Virginia law. Except as provided in Paragraphs 6 and 7, the risk of loss or taking shall remain with Seller until settlement. This Contract shall inure to the benefit of and will bind the parties hereto and their respective heirs, personal representatives, successors and assigns. Purchaser may assign its rights under this Contract without the prior written consent of Seller and Auction Firm. Any such assignment to which Seller and Auction Firm consent shall not release Purchaser from any liability hereunder. This Contract may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same Contract. Notwithstanding any other provision of this Agreement, or any agreements, contracts or obligations that may derive here from, nothing herein shall be construed to make the parties hereto partners or joint ventures or to render either party liable for any of the debts or obligations of the other party, it being the intention of this Contract merely to create the relationship of seller and purchaser with regard to the Property. All parties to this Contract have been represented by counsel or have had the opportunity to be so represented. Accordingly, the rule of construction of contract language against the drafting party is hereby waived by both parties. If any provision of this Contract or the application thereof is deemed unenforceable for any reason, the remainder of this Contract shall not be affected thereby and shall remain in full force and effect. Notwithstanding any mention of specific acreage in any description of the Property, the parties hereby agree that the Property is being sold in gross and not by the acre. The parties’ rights and obligations hereunder shall not be affected if a subsequent survey of the Property reveals a different acreage. TIME IS OF THE ESSENCE IN CONNECTION WITH THIS CONTRACT and this transaction must be closed on or before 30 -45 of sellers acceptance of offer. Terms updated September 10, 2013