Terms for Online Bidding Morris Wood Tool Company: The online registration will need to be completed, including inputting credit card information which will be verified and approved, and the credit card will be charged $1.00 for this process. If you are the successful bidder and do not deliver the Earnest Money, as defined herein, or the executed Sales Contract, as defined herein, you will be charged ten percent (10%) of the Purchase Price and such charge will be placed on the credit card plus a three percent (3%) credit card fee. By submitting a bid, you hereby agree to pay such charge if you fail to comply with the terms of the sale, including, without limitation, failure to deliver the Earnest Money and/or the executed Sales Contract, both as defined herein. The card is for verification purposes to ensure we have serious bidders and, if necessary, to cover the ten percent (10%) charge as set forth above. The balance of the contract price will be paid in full at closing no later than 20 days from date of the Sales Contract, as defined herein. Failure to close the transaction within twenty (20) days of the date of the Sales Contract, as defined herein, will result in forfeiture of the Earnest Money, as defined herein. The successful online bidder will be notified immediately following the closing of the auction and issued a sales contract in the form attached hereto as Exhibit A (the “Sales Contract”). The executed Sales Contract shall be submitted per the instructions received with the Sales Contract. If you have any questions, please call our office at 865-546-3206. The terms of the Sales Contract and the Notice of Sale, as defined in the Sales Contract, are incorporated herein by reference. BUYER’S PREMIUM: A thirteen percent (13%) buyer’s premium will be added to the high bid. Example: For each $10,000 a 13% buyer’s premium of $1,300 will be added to arrive at the total purchase price. AGENCY: Furrow Auction Company, auctioneer/broker, is acting exclusively as agent for the Seller, as defined in the Sales Contract. CLOSING ATTORNEY: Closings will be conducted by Tennessee Valley Title, Knoxville, TN, Tracey Axtell, Phone # 865-523-6254. Taxes for the current year shall be pro-rated at closing. Bank, as defined in the Sales Contract, will pay delinquent taxes for each property being sold up to the high bid amount, not including Buyer’s Premium. In no event shall Bank pay more for delinquent taxes than the amount Bank will receive from the high bid amount. Buyer shall pay: (1) all fees and costs for title examination updates and insurance (at Buyer’s option and expense); (2) buyer’s portion of the pro-rated taxes for the current year and any delinquent taxes still owing after the amounts set forth above are paid by Bank; (3) all closing fees, including, but not limited to, all transfer taxes and/or recording fees in connection with this transaction; and (4) all delinquent and/or currently due property owner’s association assessments and/or fees. For questions regarding closings contact Rob Strickland, Furrow Auction Company, 865-546-3206 or email rob@furrow.com. DISCLAIMER: Property is selling "as-is, where-is" with all faults, with no warranty, express or implied, as to improvements, soil condition, environmental matters or wetlands and is selling subject to all existing leases, tenants, covenants, conditions, restrictions, reservations, exploration rights, easements, rights of way, zoning and all other land use restrictions, all matters which would be revealed by an examination of the public records, all matters which would be revealed by a current survey and/or an inspection of the property, and all delinquent and/or currently due property owner’s association assessments and/or fees, if any. The Seller reserves the right to cancel the sale. Property will be conveyed by a Special Warranty Deed. The Seller, Bank, and their agents reserve the right to place bids on the property up to the Bank’s reserve, at its sole discretion. No personal property is to be conveyed with real estate. Neither the Seller, Bank, Furrow Auction Company nor their agents will be responsible for any errors or omissions herein. Information contained herein was obtained from sources deemed reliable. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. The Buyer or Buyer’s representative will acknowledge by signature on the Sales Contract that they have inspected the property. The terms of the Sales Contract are controlling in the event of any perceived inconsistency between its terms and any statements or other advertisement. Cash Sale: This is a cash sale and is not contingent on the Buyer’s ability to obtain financing. Possession: The Buyer will receive possession at closing. Conveyance: The Seller shall convey the Property by Special Warranty Deed only using the existing legal description. Equal Opportunity Clause: All bidding is open to the public. The property is available to qualified buyers without regard to a prospective buyer’s race, color, religion, sex, material status, national origin, or physical handicap. Debt Collection and Interest Charge: The bidder agrees to pay all reasonable attorney’s fees and other costs incurred by Furrow Auction Company in its efforts to collect unpaid funds from the bidder. The bidder agrees to pay a fee of two percent (2%) per month, which shall be added to the then outstanding and unpaid balance due to Furrow Auction Company. Any debt collection or dispute proceedings will be heard in Knox County, Tennessee. Guaranty Agreement: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney’s fee. Age Requirement: All bidders must be 18 years of age or older. PAYMENT TERMS: Payment: The successful bidder shall submit an executed Sales Contract and pay an amount of ten percent (10%) of the total purchase price (which purchase price includes the Buyer’s Premium) (the “Earnest Money”), in the form of cash, cashier’s check or wire transfer, no later than 12:00 p.m. on Monday, November 20, 2017. The balance is due in certified funds at closing. NO EXTENSIONS AVAILABLE. Time is of the essence as to closing. 4843-3715-5154, v. 1