TERMS & CONDITIONS OF REAL ESTATE AUCTION: Non-refundable down payment day of auction, Properties #1 & #2 (Commercial Lots)require $10,000.00 each; Property #3 (Grand View Estates of Nelson Lake CIC Unit #107) requires $25,000.00. The successful bidder shall enter into a non-contingent “As Is” purchase agreement on the day of auction prepared by David L. Veo Realty, Broker and pay non-revocable down payment to be held in escrow. The balance will be due in certified funds at closing, on or before August 10th, 2011. Closing will be conducted by Consolidated Abstract Company of Detroit Lakes Minnesota. The seller will furnish marketable title to said property. The Real Estate will be considered sold when all parties have signed the purchase agreement. Bidding increases will be in such increments at the sole discretion of the auctioneer. Property is not subject to prior sale and is sold “as is” with owner confirmation. These properties will be sold by their legal descriptions. All announcements made by the auctioneer take precedence over any previous advertising or oral statements. Jokela Auctions, Inc. and David L Veo Realty represent the seller in this transaction. Square footage dimensions and acreage amounts are based upon information provided by the seller and are believed to be correct; however, purchaser shall bear the responsibility to confirm all calculations prior to the auction. All information contained in this brochure was derived from sources believed to be correct but is not guaranteed. Jokela Auctions, Inc. & David L. Veo Realty are not responsible for errors or omissions. BUYER'S PREMIUN: Auction Lots #1 & #2, Commercial Lots: An 8% Buyer's Premium will be added to the High Bid Price at close of Auction to determine Final Purchase Price on each of the Commercial Lot Properties. Balance is due in certified funds at closing on or before August 10th, 2011. 2011 taxes prorated to date of closing. Closing will be conducted by Consolidated Abstract Company of Becker County in Detroit Lakes Minnesota. Owner's Title insurance and closing fee shared equally between Seller and Purchaser. BUYERS PREMIUM: Auction Lot #3: Grand View Estates of Nelson Lake CIC Unit #107. A 6% Buyer's Premium will be added to the High Bid Price at close of Auction to determine Final Purchase Price on this property. Balance is due in certified funds at closing on or before August 10th, 2011. 2011 taxes prorated to date of closing. Closing will be conducted by Consolidated Abstract Company of Becker County in Detroit Lakes Minnesota. Owner's Title insurance and closing fee shared equally between Seller and Purchaser. All property is sold “AS IS”, and ALL SALES ARE FINAL. Property is open to thorough public inspection. It is the Bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. Jokela Auctions, Inc. and David L. Veo Realty may attempt to describe the merchandise in advertising, on the internet and at the auction but makes no representations. In no event shall Jokela Auctions, Inc. or David L. Veo Realty be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge of value. Bidders who bid from off site and are not present at the live auction or preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is the Bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. Jokela Auctions, Inc. or David L. Veo Realty shall endeavor to describe in detail each item and any pertinent information about it. Jokela Auctions, Inc. and David L. Veo Realty will not be responsible for any errors or omissions in the description of the merchandise. Bidder agrees that everything is sold "As-Is" and "Where-Is" and that they may not return any item they purchase. Jokela Auctions, Inc. and David L. Veo Realty are providing internet pre-auction and live bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Jokela Auctions, Inc. or David L. Veo Realty or anyone else if the internet service fails to work correctly before or during the live auction. Jokela Auctions, Inc. and David L. Veo Realty will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the auction begins. Jokela Auctions. Inc. and David L. Veo Realty reserves the right to withdraw, re-catalog or change selling order on items in this auction. Jokela Auctions, Inc. and David L. veo Realty are not responsible for errors or omissions in any of these real estate transactions.