1999 Case 580L Backhoe

COX AUCTIONS & REALTY, LLC TERMS OF AUCTION Cox Auctions & Realty LLC, John C. Cox, Broker/Auctioneer, has contracted with “Seller/s” to offer to sell at public auction certain real and/or personal property. These terms, plus any additions, deletions, and/or revisions announced by Auctioneer before the commencement of the auction, represent the exclusive terms for the auction. 1. Identification: All purchasers must be 18 years of age, have a Bidders Number, and provide proper photo identification with full name, address, telephone number, and driver’s license number in order to bid. The requirements for Bidder registration may be waived by Auctioneer with respect to any Bidder, without waiving same for any other Bidder. By registering, Bidder acknowledges receipt of and agrees to be irrevocably bound by the “Terms of the Auction”. 2. Agency: The Auctioneer is acting as agent of Seller only and is not responsible for the acts of its principals. The Auctioneer is not an agent for the Buyer. Any participating real estate Agent/Broker represents the Buyer and is not an agent for the Seller or Auctioneer. 3. Additions to or withdrawal from sale: The Auctioneer reserves the right to withdraw from sale any of the items listed or to sell at this auction items not listed, and also reserves the right to group one or more lots into one or more selling lots or to subdivide into two or more selling lots. Whenever the best interest of the seller will be served, the Auctioneer reserves the right to sell all of the items listed in bulk. 4. The Auction: Auctioneer’s discretion includes, but is not limited to, the auction method, bid-calling, bid increments, and determining the Buyer. The decision of the Auctioneer is final regarding all matters that arise before, during, and after the Auction. Bidder shall not retract any bid. Bidder’s purchase shall be considered a single transaction whether of the whole or a fraction of the property and no sale shall be contingent upon the sale of any other portion or fraction of the property. 5. Disclaimer: Participation in the Auction is at Bidder’s sole risk and Seller and Auctioneer, plus their agents, contractors, and employees, shall have no liability on any basis. The Property will be offered in “AS IS, WHERE IS” condition. To the fullest extent allowed by law, Seller and Auctioneer unconditionally disclaim any guarantee, representation, or warranty of every kind, whether expressed, implied, or statutory, whether oral or written, whether past, present, or future, with respect to all Property issues, patent or latent, except as expressly provided in the Terms of Auction and the Sale Contract. 6. Disclosures: The real property will be offered for sale and conveyed subject to all conditions, covenants, deeds, easements, reservations, restrictions, right-of- ways, title exceptions, and matters of record. 7. Real Property Sale Contract: This is a cash sale and not contingent upon any matter, including Buyer obtaining financing. Buyer shall immediately execute the Sale Contract and all related documents presented by the Auctioneer to bind Buyer and Seller to the sale of the Property. A ten-percent (10.00%) buyer’s premium shall be in effect for the auction and added to the amount of the highest bid to arrive at the selling price (total contract price) for the Property. Buyer shall execute the Sale Contract and no addition, deletion, or revision shall be permitted. The “Terms of the Auction” are incorporated into the Sale Contract which defines the entire agreement between Seller and Buyer. The Terms of the Auction complement the Sale Contract, and in the event of any conflict between them, the Sale Contract shall control in all instances. 8. Earnest Money Deposit: A $5000 earnest money deposit per tract will be required at the time of the auction. The balance will be due at the closing on or before 30 days from the date of the auction. If for any reason Buyer fails to timely execute the Sale Contract or pay the deposit, Seller has sole discretion, to pursue all legal and equitable remedies available against Buyer or declare Buyer’s bid to be immediately forfeited, null, and void, without any requirement of notice, and immediately re-sell the Property to another Buyer. 9. Jurisdiction and Venue: The exclusive jurisdiction and venue for any controversy or claim between the parties shall be the county of Garland in the State of Arkansas.