ABSOLUTE - 39.67+/- Acres, Tract 2 Fabius Community, AL

CONDITIONS OF SALE: American Auctioneers, LLC and Debbie Mathis Realty and Auction (Auctioneer) have entered into contracts with multiple sellers (Seller) to offer at auction certain real estate located in Scottsboro, Jackson County and Dekalb County, AL. All properties are selling “AS IS, WHERE IS” and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to its condition. No warranties, either statutory or otherwise, expressed or implied, including those as to the fitness for a particular use or purpose, habitability, merchantability, or environmental condition including, but not limited to, any hazardous substances, hazardous waste, petroleum or petroleum by-products (collectively Hazardous Materials), concerning the property are given by the Auctioneer or Seller. Neither the Auction Company nor the Auctioneer makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction, that he/she has inspected the Property and is not relying on any warranty or representation of the Sellers, Auctioneer or any agent thereof. We request all bidders register and obtain a bid number. This is a cash sale. It is not contingent upon Purchaser obtaining financing. ????? All decisions of the Auctioneer will be final, including the increments of bidding, disputes among bidders or any other issues that might arise before, during or after the Auction. These “Terms and Conditions” supersede all other printed and oral statements and will be attached to and become a part of the Real Estate Sales Contract, which will prevail over this document and any other agreement between the Buyer and Seller. American Auctioneers, LLC and/or the Sellers have the right, at their discretion, to add or withdraw all or any portion of the property before the auction on Thursday Nov. 12, 2015 @ 12:00cst. PLEASE NOTE: WE HAVE WITHDRAWN PROPERTIES #209 AND #202. RESERVATIONS & RESTRICTIONS: All real estate will be sold subject to any restrictions, public utilities, encroachments, zoning ordinances, easements, regulations, covenants, any existing rights of way and all other matters now of record. We are offering several subdivision lots. The protective covenants have been made available; and these lots will be sold subject to them. For compliance with Sect. 1018 of the Residential Lead Based Paint Hazard Act of 1992, interested purchasers have had a ten (10) day inspection period prior to the auction for the assessment of possible lead based paint hazards. The expiration date for the 10 day assessment period has lapsed and Purchaser waives his/her right to inspect the property for lead based paint hazards. SPECIAL NOTES: We have advertised and are selling 10 properties. Properties #202 and #209 have been withdrawn. Pproperties #201, 203, 204, 206, 207, 208, 212 are selling ABSOLUTE, properties #205, 210, 211 are selling subject to OWNER CONFIRMATION. Property 212 is subject to confirmation by the Jackson County Circuit Court. Property #201 is subject to the terms of an unrecorded haul road agreement for access to adjoining property. Property #211 is subject to a minor encroachment by adjoining landowner. All properties are subject to such further stipulations which may be announced at the sale. MINERAL RIGHTS: No warranties, representations or promises are made with respect to mineral rights as to any property offered for sale. The owners will convey all of their right, title and interest in the property to the purchaser which will include mineral rights in the event that the owners own mineral rights. However, the Owners do not warrant or represent that they own any mineral rights. PERSONAL PROPERTY: All personal property and equipment reserved, including, but not limited to scales & office trailer located on Property 201. ACCESS: Property 201 has no deeded access to a public road and no warranty, representation or guarantee is made that purchasers will have access that property. Purchaser will be responsible for acquiring such access as may be required. PROTECTIVE COVENANTS AND RESTRICTIONS: Properties are sold subject to any protective covenants, restrictions and homeowners associations of record, and subject to any existing zoning or land use ordinances. SURVEY: The following properties have been or will be surveyed for this auction by William Short, an Alabama Registered Surveyor. The survey fee for each property will be due and collected today and will be announced before the sale of each parcel. The accuracy of the survey is the sole liability of the surveyor and the Purchaser, and the Purchaser does hereby release American Auctioneers, LLC and Debbie Mathis Realty and Auction from all liability in all matters concerning the survey. As purchaser, you will receive a registered boundary survey at closing PAYMENT: A 10% Buyer’s Premium(11% for online bidders) on all Real Estate will be added to the Bid Price today to arrive at the final purchase price. The purchaser will be required to sign the Real Estate Sales Contract and pay a non-refundable earnest money deposit equal to 10% of the final purchase price immediately following the Auction. This payment may be made with either a personal or company check. This deposit will be held in a non-interest bearing escrow account under the control of American Auctioneers, LLC. No disbursements will be made from this escrow account until closing or otherwise in accordance with this agreement. In the event the purchaser fails to close and pay his/her balance when due, the deposit may be retained by the Seller and Auctioneer as liquidated damages in addition to any other remedies available to the Seller and Auctioneer. CLOSING: Closing shall take place within 30 days of auction, in accordance with the Real Estate Sales Contract, or on a date mutually agreed upon by the Seller and Purchaser(s) in writing. The closing attorney is Mr. William Tally, 129 E Laurel St, Scottsboro, AL, 35768, 256.574.2546. TITLE TO PROPERTY: Property 212 is sold under order of the Circuit Court for Jackson County, Alabama. No warranties, representations or guarantees are made with respect to title to that property. Conveyance of that property will be made in accordance with the orders of the Circuit Court. As to all other properties, Seller will provide a warranty deed subject only any exceptions or limitations announced at auction, ad valorem taxes accrued but not yet payable, any protective covenants, restrictions, homeowners associations, and zoning or land use ordinances. CLOSING COSTS: Except for Property 212, the Seller will provide a warranty deed at closing. If the Seller is unable to convey clear title to the property in accordance with the foregoing paragraph, the Purchaser(s) Earnest money deposit will be returned and neither American Auctioneers nor Seller shall be further indebted to Purchaser. All other costs including, but not limited to, Attorney’s Closing Fees Recording Fees, Title Search, Title Opinion, Title Insurance, Loan Origination Fees, etc., will be at the Purchaser’s expense. POSSESSION: Purchaser(s) will be granted possession of the property at closing on or before Dec. 12, 2015. TAXES: The Real Estate property taxes will be prorated to the date of closing. If any additional taxes are assessed resulting from the change of use by the purchaser, they will be the responsibility of the purchaser. AGENCY: The Auctioneer is acting as agent for the Seller only in each transaction and is to be paid a fee pursuant to a separate written agreement between Sellers and the Auctioneer. The Auctioneer is not acting as an agent for the Purchaser in any transaction. Any third party broker is not a sub-agent of the Auctioneer. BUYER’S NOTE: American Auctioneers, LLC Debbie Mathis Realty and Auction and the Seller reserve the right to amend any terms of conditions of the auction by announcing such amendments prior to or during the auction. All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the Seller or the Auctioneer. The Auctioneer makes no warranty or guarantee as to the correctness and completeness of any information. Personal on-site inspection of each property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer, or earnest money after its opening tender. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced and/or distributed information. American Auctioneers, LLC and Debbie Mathis Realty and Auction are acting as “Agent of the Seller” and our fiduciary duties of loyalty and faithfulness are owed to the Sellers. NOTE: This auction is being recorded by both audio and video in its entirety for legal purposes. I have received, read, understand and agree to the information in these “Terms and Conditions” which will become a part of the sales contract and will hereafter be Exhibit “A”. I certify that I provided the Registered Bidder and Seller named above a copy of “Terms & Conditions.