Thank you for participating in this Online Auction Event. Outlined below are the Terms & Conditions of Sale. Please read them carefully. By placing a bid, you are acknowledging your acceptance of these Terms. NOTE: Auction Closing Date: Online only bidding continues until February 17, 2015 at 11am Eastern Time. At such time, dynamic closing will occur with the bidding being extended by 3 minutes each time a bid is placed in the final 3 minute period. Inspection: The property will be open for public inspection on Wednesday, Feb 10 at 12 Noon. Real estate agents may show by appointment following the registration of their prospective client with Gryphon using Gryphon's approved Broker Registration Form. Registration: To obtain a buyer number for the real estate auction, the buyer must complete online registration with Auction Firm, agree to have your registration related credit card charged an amount of 10% of the contract price upon being deemed the High Bidder and execute a Purchase and Sale Agreement for delivery to Borror Properties / Gryphon Auction Group (Gryphon) not later than the next business day following the conclusion of the auction. Be it understood that SVNGP advises all potential buyers to seek legal counsel if for any reason they do not understand any part of the auctions TERMS and CONDITIONS. Agency: Borror Properties / Gryphon Auction Group and Richard F. Kruse represents the Seller in this transaction. Other agents of Borror Properties may represent buyers and all registrants to the auction hereby consent to Dual Agency. Contracts: The successful bidder for the purchase of the real property shall sign and return all documents to Gryphon on the next business day following the conclusion of the auction. Transmission may be by email to rfk@gryphonusa.com or by contacting Auctioneer at 614-885-0020 to make arrangements for hand delivery to auctioneer in Columbus, Ohio. A copy of the Purchase and sale Agreement is available by contacting Gryphon at rfk@gryphonusa.com or visiting our website at www.gryphonusa.com. Deposits: An initial deposit in the amount of $2,500 will be collected from the high bidders credit card at the conclusion of the auction. The balance of funds totaling 10% of the Total Purchase Price will be due by certified check or wire transfer not later than 5pm on the day of the conclusion of auction. Buyers Premium: A Buyers Premium of 10% shall be added to the high bid at the close of bidding. The high bid plus buyers premium shall constitute the Total Contract Price paid by the Buyer to the Seller. Closing: Within thirty (30) calendar days following the date of Court Approval of the Auction. Closing shall occur through Closing Agent of Sellers choosing. Seller shall pay title search fees, deed preparation, taxes through the date of closing and transfer tax. All other closing costs shall be paid by Buyer. At Closing, Buyer shall receive a fiduciary deed to the Property in transferable and recordable form. Possession: Buyer shall be entitled to possession at closing. Minimum Bid: This is a Receivers Auction and the Court has ruled that a minimum bid of $70,000 is required. Contingencies: The sale shall be subject to the review and approval of the Hamilton County Court of Common Pleas overseeing the Receivership Case. Real Estate Brokers: Real estate brokers shall be paid a fee equal to 3% of the high bid amount provided that brokers register their buyers with Gryphon prior to (a) any interaction between prospective bidder and Gryphon and (b) the registration by prospective buyer for participation in the online auction. Broker Registration forms are available by contacting Gryphon at rfk@gryphonusa.com or on the web at www.gryphonusa.com. Condition of Sale: BUYER ACCEPTS THE PREMISES “AS-IS WHERE IS”, WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND BY SELLER INCLUDING ANY REPRESENTATIONS REGARDING ENVIRONMENTAL CONDITIONS AFFECTING THE PREMISES. THE WARRANTIES EXCLUDE, BUT ARE NOT NECESSARILY LIMITED TO FREEDOM FROM STRUCTURAL DEFECTS, CONSTRUCTION IN A WORKMANLIKE MANNER AND FITNESS FOR HABITATION. Jurisdictions: The respective rights and obligations of the parties with respect to the herein terms and conditions and the conduct of the Public Auction shall be governed and interpreted by the laws of the State of Ohio. By bidding at the Public Auction, whether present in person or by agent, by written bid, online or other means, the buyer shall be deemed to have consented to the jurisdiction of the Court. Any controversy or claim arising from or relating to the any purchase contract or incidental document associated therewith, or breach thereof, shall be determined and settled by the County Court of Common Pleas in the Court Case related to this Auction. High Bidder Notification: At the conclusion of the auction winning bidders will receive an email advising of the item won as well as provided with an invoice for payment. Bidders will receive an email only and are responsible for checking your email account. Liquor License: DOES NOT CONVEY BUYER BEWARE: By placing a bid, the bidder acknowledges that s/he has been provided an opportunity to conduct an inspection of the property and is entering into this agreement as the result of a thorough inspection, or acknowledged opportunity to inspect, of the property being purchased and in an AS-IS, WHERE-IS, and AS-INSPECTED condition with any and all faults.