Real Estate & Personal Property Auction

Terms & Conditions:

PROCEDURE:  The property will be offered in 2 individual tracts and as a total 18.8± acre unit.  There will be open bidding on the tracts and the entire property during the auction as determined by the auctioneer.  Bids on the tracts and the entire property may compete.

AUCTION CONDUCT:  Conduct of the auction and increments of bidding are at the sole discretion of the Auctioneer.  The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the personâ??s credentials, fitness, etc.  All decisions of the Auctioneer are final.

DOWN PAYMENT:  $20,000 down payment on Tract 1 and $5,000 down payment on Tract 2 are due at the close of the auction.  The down payment may be made in the form of cashierâ??s check, personal check, or corporate check.  Your bidding is not conditional upon financing, so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

ACCEPTANCE OF BID PRICES:  The successful bidder(s) will sign a Purchase Agreement at the conclusion of the auction.

EVIDENCE OF TITLE:  The Seller will provide a preliminary title opinion, certificate, or report to be made available to prospective bidders for review prior to bidding.  If any buyer elects to purchase title insurance, the cost thereof will be at such buyerâ??s sole expense.  Seller will convey title free and clear of liens, but otherwise subject to all easements and matters of record.  All tracts sold â??AS ISâ?.

DEED:  Appropriate deed will be delivered at closing.

CLOSING:  Closing will take place 45 days after auction date, or as soon thereafter as Sellers applicable closing documents are completed.

POSSESSION:  Possession 30 days after closing.

REAL ESTATE TAXES:  Real estate taxes will be prorated to the day of closing.  If usage is changed, the Buyer is responsible for CAUV Recoupment.

TRACT MAPS; ACRES:  Tract maps, depicted boundaries, and stated acres are approximates based on county parcel data, current legal descriptions, and/or aerial mapping software and are not provided survey products.

SURVEY:  It is expected that the current legal descriptions will be sufficient to convey the property.  Any need for a new survey will be determined by the seller.  If a new survey is required, the survey costs will be shared equally between the buyer and seller.  The type of survey provided will be at the sellerâ??s option.  Combination purchases only receive a perimeter survey.

EASEMENTS:  Sale of the property is subject to any and all easements of record.

AGENCY:  The Wendt Group and its representatives are exclusively the agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES:  All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement.  The property is being sold on an â??AS IS, WHERE ISâ? basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the Auction Company.  All sketches and dimensions in the brochure are approximate.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property.  The information contained in this brochure is subject to verification by all parties relying on it.  No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company.