Online Registered bidders: Registered Bidders are all persons who complete, sign, and acknowledge acceptance of this Registration Contract and any other terms of the Auction as established by the Auctioneer, and who present at the time of registration and prior to bidding an Initial Deposit of Ten THOUSAND DOLLARS ($10,000.00) Registered Bidders are referred to as “Bidders”. Initial Deposit: THE INITIAL DEPOSIT OF $100,000 MUST BE WIRED TO THE COUNTS REALTY & AUCTION GROUP NOT LATER THAN 12:00 NOON (Eastern) ON JULY 12, 2011 IN ORDER TO BE ABLE TO BID AT THE AUCTION ON WEDNESDAY. FOR WIRING INSTRUCTIONS, CALL Tami Robertson at 434 525-2991. The Winning Bidder agrees to forfeit all claims to the Initial Deposit for the particular Auction Property won upon announcement by Auctioneer of the Winning Bidder’s identity. The Initial Deposit shall be credited against the Winning Bidder’s purchase payment. At that moment, the Initial Deposit will become non-refundable to the Buyer. In the event of a default by the online buyer, the bidder will be responsible for any additional costs or losses incurred in the resale of the property. Please CALL Barry Muse 434 841-6224 - IF YOU HAVE ANY QUESTIONS. Internet Buyer’s Premium is 6 percent (6%) of the Hammer Price which is added to the Hammer Price which constitutes the Total Contract Price of the Auction Property. Auction Location –2300 Mayflower Drive, Lynchburg, Va. 24501 Wednesday, June 24th at 10:00 a.m. onsite and online. Partial Terms of Sale for the Real Estate: A 6% Buyer's Premium will be added to the high bid at the auction to determine the final contract sales price. A $10,000 non-refundable deposit is required at the conclusion of the auction payable to The Counts Realty & Auction Group in the form of CASHIER'S CHECK OR CASH or an approved personal check with proper identification with the balance due at closing. The closing will take place within __30_ days of the auction unless specified otherwise or as soon thereafter as necessary to correct any defects in title. If you are not prepared to make the required deposit and close within the timeframe stated, please do not bid. The property is being sold "As Is - Where Is - With All Faults" without any warranties or representations neither expressed nor implied. Financing is not a contingency of the sale. Property is being sold with reserve.If you are unable to attend the auction, you may bid online during the auction via http://www.Proxibid.com/CountsAuction A completed Bidder Registration Form must be faxed to 434 525-2991 prior to being allowed to bid online. The auctioneer is an agent for the Seller. Announcements made the day of sale take precedence over any printed material or other oral statements made. All information contained herein is believed to be correct, but is not guaranteed. All purchasers must independently investigate and confirm any information or assumption on which any bid is based. In the event that the closing does not occur for any reason whatsoever, other than solely due to the fault of the Seller, the Seller shall retain the earnest money deposit as a measure of liquidated damages. This provision shall in no way affect the right of Seller and Auctioneer to rely upon and to exercise any other legal remedies or recourse available to them, including without limitation seeking specific performance or monetary damages, in the event the closing contemplated herein does not occur due to default by Purchaser. Purchaser further agrees to pay all attorney fees, court costs and other costs of collection/enforcement incurred by Auctioneer and Seller due to a default by Purchaser. The auction is subject to cancellation, additions, deletion, or postponement. The real estate taxes will be pro-rated to the date of closing. For more information, please contact Barry Muse at 434 841-6224 - VAAF93