PHELPS LAND AUCTION

TERMS & CONDITIONS

--PHELPS LAND AUCTION--

--ONLINE BIDDING ONLY?

Closing Date Friday August 28th, 7:00 P.M.

46.8 Acres More or Less

***Real Estate Sells Subject to Seller Confirmation***

There will be online Internet Only Bidding on this Tract of Land

***Down Payment: An Ernest Deposit in the Amount of $10,000.00 will be due at the close of the Auction from the High Bidder of an accepted offer. Deposits may be in the form of Check, Money Order, Cashier Check or Cash. Ernest Deposit will be Due at the Close of the Auction. Accepted Bidder will be contacted immediately after the Auction by the Auctioneer for an Appointment to sign a Sales Agreement and collect Ernest money Deposit.

***YOUR BIDDING AND BUYING is not contingent on your financing, so have your financing pre-arranged. Deposit is non-refundable and will be forfeited if buyer does not perform.

***BUYER PREMIUM A 5% Buyer Premium will be added to the high bid price to calculate the final purchase price. Please take this into consideration when bidding.

***DEED & TITLE INSURANCE Seller will provide Title Insurance and Warranty Deed containing the following language. This property may be located within the vicinity of Farm Land or a Farm operation, generally accepted Agriculture and Management practices which may generate noise, dust, odors and other associated conditions may be used and are protected by the Michigan Right to Farm Act.

***SURVEY A Survey is not required to transfer ownership of this Tract of Land, in the event Buyers request a survey, said survey shall be paid for by the purchaser.

***LEGAL DESCRIPTION & ABSENCE OF WARRANTIES Dimensions, boundaries & acreage are all approximate and are an estimation based on current legal descriptions. Aerial photos, etc. Any maps used in this brochure to show boundaries are not a guarantee of exact property lines. All maps in the brochure are a guideline to assist the prospective purchaser in locating the Tract being offered. Each Tract is being sold by the gross dollar (Not by the Acre) no adjustments will be made in the purchase price if an actual survey reveals acreage different than estimated in any printed matter concerning this Auction. All Tracts sell as-is where-is with no warranties expressed or implied as to the merchantability, usability fitness for a particular purpose, or any matter of what so ever type or nature, by the seller and/or Brian Hasty Auction Company. Information used in this brochure and other printed matter pertaining to this Auction has been obtained from sources deemed reliable, but the seller and/or Brian Hasty Auction Company make no guarantees as to its accuracy. Conduct of the Auction and Bid increments are at the direction and discretion of the Auctioneer.

***AGENCY BRIAN HASTY AUCTION COMPANY and its representatives are exclusive agents of the seller.

***TAXES Real Estate Taxes are Pro-Rated to Closure.

***TEKONSHA TOWNSHIP May have Zoning rules and regulations. Buyers shall rely entirely on their own inspections, information, judgment and investigation of the property and its records.

***MINERAL RIGHTS Seller to convey 100% of oil and mineral rights owned by seller.

***CLOSING The balance of purchase price is due at closing which will take place approximately on or before 45 days after Auction sale date or soon there-after as applicable closing documents are completed.

***POSSESSION Possession at Closure.

***ALL GROWING CROPS Will go to the Purchaser.