Announcements made day of Auction take precedence over all advertised, stated, or printed material. Neither Seller nor Auctioneer will be held responsible for accidents on property. NO ONLINE BIDDER REGISTRATIONS WILL BE ACCEPTED AFTER 12 NOON ET THURS, 3/26. Onsite and online bidders must complete Bank Letter of Guarantee to bid. “Agreement of Sale” contract, including terms & conditions, for sale of Property by Seller to Purchaser. Agreement of Sale shall be on Auctioneer’s usual form. “Auction” the public sale at which Property is offered for sale and at which Auctioneer shall solicit bids for Property. “Buyer’s Premium” is percentage of final bid price, added to such to calculate Final Sale Price. “Final Sale Price” total purchase price of Property as evidenced by Winning Bid plus Buyer’s Premium. “Final Settlement” or “Closing” time at which Seller shall transfer, assign and convey all of Seller’s right, title and interest in and to Property to Purchaser, and at which Purchaser shall pay Purchase Price to Seller. “No Sale” means in which Property is offered at Auction, but is not sold for any reason, including, without being limited to, failure to meet Reserve Price. Property located at 429 Greenridge Road, Glenmoore, PA 19343. “Realty Purchaser” person or entity making Winning Bid for Realty at Auction. “Reserve Price” minimum price that Seller is willing to accept for Realty at Auction. “Winning Bid” or “Hammer Price” highest bid received and accepted for the Realty in excess of Reserve Price. “Withdrawn”, with respect to Realty, an event in which Seller informs Auctioneer that Seller has determined not to have Realty sold at Auction. Seller reserves right to cancel auction at any time prior to final bid closing. TERMS • AUCTION EVENT: Property will be sold at Public Auction Saturday, March 28, 2015 at 12:00PM ET • Auction registration at 11:00AM ET • Real estate is offered subject to owner confirmation • ALL SALES ARE FINAL; Property sells as-is and where-is with no warranties expressed or implied • GOOD TITLE: Seller owns Property, including the Realty, in fee simple absolute, free from liens and encumbrances other than those liens and encumbrances of public record that will be discharged at or prior to Closing. • ACREAGE: All acreages, dimensions, and proposed boundaries are approximate and have been estimated based on current legal description, appraisal, and/or aerial photos. • SURVEY: No survey will be provided beyond that provided in the appraisal report. Bidder may elect to survey the property at own risk and expense prior to auction date. • INSPECTIONS: Each potential Bidder may elect to perform any non-invasive inspections, investigations, and due diligence as desired on property at his own risk and expense prior to auction. • BIDDER REQUIREMENTS: - Government-issued photo ID - Bank Letter of Guarantee to accompany Bidder’s check • BUYER'S PREMIUM: Buyer's premium based on winning bid serves as non-refundable earnest money deposit, and is due at end of auction. On-site buyer, 10%; Online buyer, 11% • EXECUTION: Successful Bidder (Realty Purchaser) shall execute a “Real Estate Sale Agreement” immediately after being declared the Winning Bidder by Auctioneer. • PAYMENT: If won on-site, earnest money deposit is required immediately after being declared the Winning Bidder. - Cash, cashier’s check, or personal or corporate check, or combination thereof, immediately negotiable with Bank Letter of Guarantee is satisfactory for down payment - Down payment deposit, equal to Buyer Premium, is NON-refundable - Neither bidding process nor sale of Property is contingent upon financing. Bidder/buyer financing provisions must be made prior to the auction date. Balance of Final Sale Price will be due on or before closing date. • SETTLEMENT: Balance due at settlement within 40 days, or by May 7, 2015. - Final settlement is NOT contingent upon financing - Real Estate taxes, if any, will be prorated to day of closing; prorated amounts are to be calculated by title company. • POSSESSION: granted on day of final settlement • INDEMNIFICATION: Buyer expressly agrees to indemnify and hold Auctioneer harmless from and against any and all loss, damage, expense or cost (including attorneys’ fees and disbursements attendant thereto) in any way related to auction or Agreement of Sale, including and not limited to, claims made by the Buyer of Property, arising out of or in any way related to, Buyer’s breach of any representation, warranty, covenant, obligation, or other provision contained in this Agreement, or otherwise related to, or arising out of description of Property, Seller’s ability to convey Property, and/or condition of Property. • MATERIALS: All marketing and PIP materials were gathered from reliable sources and are believed to be accurate as of the date they were published; however neither Seller nor Auctioneer has independently verified this information. Its...more