1. EARNEST MONEY: $5,000 (Five Thousand Dollars) will be required to be paid to Homestead Realty, Inc. Trust Account by the successful bidder if an acceptable price is reached. This earnest money payment will be forfeited if the sale does not close in a timely manner due to the fault of the buyer. 2. A buyers fee of 10% (ten percent) will be added to and become part of the final selling price of the property. 3. Property is offered "as is" with any and all faults. The high bid is subject to confirmation by the seller. 4. Plats shown herein (if any) and the description of any improvements are for information purposes only and no representations, warranties or guarantees are made concerning location, dimensions, or tract size or the nature, quality or suitability for use of the tract for any improvements. 5. The property shall transfer free and clear of liens, but subject to any zoning, environmental protection and other municipal, federal and state laws or facts which an accurate survey and/or inspection of the tract being sold might show. 6. Within 48 hours, the buyer shall sign a "Bid Acknowledgment" form and enter into an "Offer to Purchase Agreement." Failure of successful bidder to sign the "Offer to Purchase" within 48 hours of the auction shall result in immediate default and immediate forfeiture of earnest money. 7. The highest approved bidder shall be the buyer. In all cases of disputed bids, the property shall be resold, but auctioneer will use his/her judgment as to good faith of all claims and his/her decision is final. Auctioneer reserves the right to bid on behalf of the Seller. 8. All bidders are required to register and give full identification prior to the beginning of the auction and are required to use the number issued them when identifying themselves as the successful bidder. 9. Should a dispute arise after the auction, auctioneer's records shall be conclusive in all respects. 10. This is a privately owned and operated auction. We reserve the right to refuse admittance to any person(s). No transfer shall be recognized from one buyer to another. 11. Bidder agrees to pay any and all charges and expenses incurred by reason of any breach of Terms & Conditions of auction or in case of default, including, without limitation, reasonable attorney fees, as well as any dollar deficiencies which may result in the resale of the property, and the cost of re-marketing said property. Additional commissions shall be due and payable. 12. Auctioneer reserves the right to withdraw any property prior to auction. 13. Bidder agrees to the above Terms & Conditions of the auction prior to receiving a bid card and acknowledges receipt of a copy of same in the information packet received by bidder upon registration. 14. The above stated Terms & Conditions of Auction cannot be altered except in writing by all parties of the contract, or by verbal changes to terms given by Broker or Auctioneer at time of Auction. 15. Bidder does hereby indemnify and hold harmless Auctioneer and Seller from any and all damages, claims or liabilities from injuries to persons or property of any type whatsoever, caused during the auction. 16. Bidder agrees that this agreement shall be governed by the laws of the state of Wisconsin and hereby grants sole jurisdiction and agrees to submit to the personal jurisdiction and venue of a court of subject matter jurisdiction located in Milwaukee County, Wisconsin. Bidder agrees and grants that service of process on them may be obtained by mailing a certified letter, containing a summons, postage prepaid, to them at the address they provided to register. Should a dispute arise between Betthausers’ Auction Service, Inc. and Bidder, Bidder waives any right to a trial or hearing in a court of law and agrees to settle the dispute through binding arbitration in Milwaukee, WI.