PROOF OF FUNDS REQUIRED TO BID All bidders registering at the live auction will be required to bring a cashier’s check payable to Millennium Properties R/E, Inc. in the amount assigned to the property. Please refer to the second page to verify the “Funds Required to Bid” amount for the property you intend to bid on. For bidders participating in the online auction, the earnest money deposit as specified in the table must be submitted prior to the auction to become a registered bidder. Only the successful high bidder for the property will be required to tender their check(s) at the conclusion of the auction; online bidders will have their funds returned to them in a timely manner. BUYER'S PREMIUM The purchaser shall pay a premium based on a percentage of the high bid price indicated in the Agreement. The buyer’s premium of five percent (5.0%) shall be added to the final bid and inserted in the Agreement to determine the total purchase price. For bidders participating online, this will be displayed as the Internet Premium. AGENCY DISCLOSURE Millennium Properties R/E, Inc. (Auctioneer) and all other licensees employed by or associated with the Broker, represent the Seller in the sale of these properties. AUCTION FORMAT All bidding is open and public. To bid during the live auction, qualified bidders need only raise your hand, shout out your bid or instruct an Auctioneer’s bidder assistant to call out your bid for you. The auction will also be conducted online through a webcast at www.proxibid.com/millennium. Potential bidders wishing to participate through the web must i) register with Millennium Properties and be approved as a bidder prior to the auction and ii) submit the earnest money deposit to Millennium Properties prior to the auction either via wire or as a cashier’s check. ATTORNEY REVIEW RECOMMENDED Information contained in this brochure and all other auction-related material, such as the Bidder’s Information Package, should be carefully reviewed by an attorney prior to the auction and is subject to and may be superseded by (a) the approved Real Estate Sale Contract, as well as by (b) announcements made from the podium prior to the commencement of bidding. REQUIREMENTS OF THE SUCCESSFUL BIDDER The successful high bidder on each property will be required to sign the bidder’s card upon the conclusion of bidding, acknowledging the purchase and tender the required cashier’s check(s) as initial down payment to the Auctioneer’s assistant. The check(s) shall be made payable to Millennium Properties R/E, Inc. as Escrow Agent. The high bidder shall then immediately sign the Agreement. The Agreement shall supersede all other materials, including the Terms of Sale relating to the sale of the Property. OFFERING METHOD Subject to Minimum Bid - If the Property is being offered Subject to a Minimum Bid, it shall become an Absolute sale upon reaching or exceeding the Minimum Bid. The Auctioneer reserves the right to ask for an opening Bid other than the published minimum bid. However, the seller retains the right to accept or reject bids that do not reach this minimum bid. EARNEST MONEY The Successful Bidder shall immediately tender to Millennium Properties R/E, Inc., as escrow agent, the $95,000 cashier’s check. This initial down payment must be increased to ten percent (10%) of the purchase price within five (5) business days following the full execution of this Contract. The Earnest Money shall be applied to the Purchase Price. CLOSING DATE All sales will close on or before Friday September 4, 2015, at which time the purchaser will pay the balance of the purchase price. TITLE INSURANCE The purchaser shall receive standard owner’s title insurance policy showing the title to be free from all encumbrances, except permitted exceptions specified in the Agreement. If you wish to have title insurance with respect to survey matters, you must produce a survey prior to closing. If you wish to have extended title coverage, you will need to pay any costs above and beyond the provided standard owner’s title insurance policy. INSPECTION OF THE PROPERTY These properties are being sold on an “AS-IS, WHERE-IS” basis. Your complete inspection of the property by your experts at the designated time prior to the auction is encouraged. Those inspecting the property assume all risks associated with any inspection. PROPERTY TOURS Property tours are scheduled for July 29, August 5, and August 12 each from 11:00am to 1:00pm. If you are unable to attend any of these property tours, please contact Brad Thompson at 312-338-3012 to set up an alternate time to view the property. CONDUCT OF THE AUCTION Neither Seller, Seller’s agents or Auctioneer is permitted to bid at the auction. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. Seller and Auctioneer reserve the right to refuse admittance to or expel anyone from the auction premises for interference with auction activities, nuisance, canvassing, soliciting, or other reasons deemed necessary by the Auctioneer. In the event of a dispute between bidders, the Auctioneer shall make the final decision to accept the final bid, to re-offer and re-sell the property, or to remove the property from auction. If any disputes should arise following the auction, the Auctioneer’s records shall be conclusive in all respects. Because of the pace of the Auction bidding, Auctioneer is not able and therefore is not obligated to recognize nor record each of the bidders at any bid level during open outcry except the high bidder. Auctioneer will use its reasonable efforts to register persons bidding at the Auction, but cannot represent or warrant that all Auction bidders have been properly registered. AUCTION LOCATION The Auction will be held on Friday, August 14 at 2:00pm CT at online and at 200 W. Madison St. in Chicago on the 11th Floor. When you arrive at 200 W. Madison St., you will need to check in at the security desk with a photo ID. Once you have checked in, you will be directed to the 11th Floor, where you will need to check in for the auction. THE DAY OF THE AUCTION We recommend bidders arrive at the auction location at 1:00pm in order to register, present your designated cashier’s check, have any last minute questions answered and obtain preferred seating. When you arrive at 200 W. Madison St., you will need to check in at the security desk with a photo ID. Once you have checked in, you will be directed to the 11th Floor, where you will need to check in for the auction. Registration will go on continuously for the hour preceding the auction, with the auction beginning promptly at 2:00pm. BROKER PARTICIPATION INVITED A referral fee in the amount of two percent (2.0%) of the high bid price will be paid by Seller to the real estate agent or broker acting as a “Buyer Broker”, whose Client pays for and closes on a property. To qualify for the referral fee, the real estate agent or broker must: (a) be a licensed real estate agent or broker in the state in which the property is located who will abide by the National Association of Realtors® Code of Ethics; (b) register the Client by certified mail return receipt requested, on company stationery, which must be signed by both broker and Client and confirm the “buyer-broker” arrangement (“Registration”), with Millennium Properties R/E, Inc., 200 W. Madison Street, 36th Floor, Chicago, IL 60606. Attention: Auction Project Coordinator, by August 7, 2015; (c) insure that the Registration is received before any inspection of the property by the Client; (d) sign in and attend a scheduled Open House with the Client; (e) attend the auction with the Client and bid with or for the Client; and (f) insure that the Buyer’s Premium is included in Real Estate Sale Contract signed by the Client. All Registrations accepted will be acknowledged by the Auctioneer. Each participating agent or broker must bring this acknowledged Registration to the auction for registration verification purposes. A complete file of the Registration on all Clients will be maintained. No Broker registration will be recognized on a Client who has previously contracted or been contacted by the Sellers, their representatives or Auctioneer. Referral fees will be paid upon closing by Sellers and receipt of all commissions by Auctioneer. Referral fees are based on the high bid amount. No referral fees will be paid by the seller, if the broker, the broker’s agents or a member of the broker’s immediate family is participating in the purchase of the property. An affidavit will be required certifying that the broker is not acting or participating in any way as a principal. No sub-agency shall be offered to any broker by Auctioneer. There can be NO EXCEPTIONS to this procedure and no oral Registrations will be accepted. If a referring broker has not met all of these requirements, no referral fee will be paid to the referring broker, even if the referring broker’s Client purchases the property. DISCLAIMER The information contained in this brochure is subject to inspection and verification by all parties relying on it. Sellers, their agents and Millennium Properties R/E, Inc. assume no liability for its inaccuracy, errors or omissions. ALL SQUARE FOOTAGE, DIMENSIONS AND TAXES IN THIS BROCHURE ARE APPROXIMATE. This offering may be withdrawn, modified or cancelled without any notice at any time and is subject to prior sale. This is not a solicitation to residents of any state where this offering is prohibited by law. Millennium Properties reserves the absolute right, in their sole discretion, to amend these Procedures, Terms and Conditions at or before the auction. To the extent there is any conflict between the provisions of these Procedures, Terms and Conditions as set forth herein and in any Sales Contract, the terms of the Sales Contract shall govern.