AUCTION TERMS AND CONDITIONS The terms and conditions of this auction will be governed by the Contract for Sale of Real Estate (here-in called the Purchase Agreement.) The following terms are a summary provided for the convenience of the bidder. A sample Purchase Agreement is available from the auction company in the bidder’s packet and should be reviewed prior to the auction. All properties sell “AS IS WHERE IS” with no warranties of any type expressed or implied as to the merchantability, usability, fitness for a particular purpose, or any matter of whatsoever type or nature. Any improvements which must be made are the responsibility of the purchaser. All information advertised or stated was derived from sources believed correct, but is not guaranteed. All property dimensions are only approximations; Purchasers shall rely entirely on their own information, judgment, and inspection of the property and record. In order to bid at the auction, prospective Purchasers will be required to sign a waiver eliminating the opportunity to conduct a risk assessment or inspection for the presence of lead based paint and/or lead paint hazards after the auction, if a residential dwelling exists. Purchasers can inspect prior to the auction. The Real Estate will be sold free and clear of all liens. The Real Estate will be sold subject to any easements and building and use restrictions of record. If a multiple parcel offering, any parcel laying adjacent to each other sell to the same owner they will sell together as one parcel. In the event the adjacent parcel offerings sell to separate Purchaser’s, an application for land divisions as depicted in the sale information may be put before the local unit of government with Seller reserving the right to make reasonable adjustments to proposed boundaries to accommodate the creation of said land divisions. Any sale is contingent upon the approval of land divisions by the local unit of government. The cost of any survey requirements of the local governmental unit or Title Company shall be paid by Purchaser. Purchasers can inspect prior to the auction. Any announcement made at the auction site takes precedence over printed material. DEPOSIT FOR REAL ESTATE: A total of $15,000 per tax parcel is required as an earnest money deposit upon execution of the Auction Purchase Agreement documents. Check and cashier’s check are accepted for the deposit. This deposit is deemed non-refundable if the Purchaser does not carry through with the purchase. Your bidding is not conditional upon financing, so be sure you have arranged financing if needed and are capable of paying cash at the closing. Contact sales manager for assistance in arranging financing options. CLOSING TERMS: Balance of purchase price will be due at closing which will be scheduled within 45 days, unless extend longer to a time period of ten (10) days after completion and approval of land division process, if required. Real estate property taxes shall be prorated. Possession will be given at the closing. Seller shall provide an owner’s title insurance policy in the amount of the purchase price. Closing will be held by a Title Company. Closing fees will be divided evenly between the Purchaser and the Seller. Real Estate sells subject to owner’s confirmation, within 72 hours of auction completion. BUYERS NOTE: If you are the successful bidder, you must sign all Purchaser Agreement documents within 24 hours of the conclusion of the Auction. At that time your check will be endorsed as a non-refundable deposit on the Real Estate. That ability to obtain financing is NOT a contingency of the sale. The Auction will be conducted at the sole discretion of the Auctioneer and any bids be recognized at their discretion. PUBLIC VIEWING TIMES: Intersested parties may inspect parcel at will. Please do not drive across Property. NEW DATA: New data, corrections, or changes could be made after the printing of this brochure. Please review Online updates online prior to the start of the auction to inspect and consider any new information and changes. More detailed information will be available by contacting the Sale Manager, Jeff Bean, at 517-202-9421 / jeff@jeffbean.net or the Auctioneers, Scott Sykora, at 989-386-9694 / sykora@ironmans.net or John McConnell at 989-429-0444 / mconnell48622@gmail.com or at www.sykoraauctions.com. AGENCY DISCLOSURE: Jeffrey R. Bean, Broker and Scott Sykora Auction Service, Inc., its agents, employees and/or representatives are Exclusive Agents of the Seller. ANNOUNCEMENTS MADE DAY OF SALE TAKE PRECEDENCE OVER PRINTED MATERIAL Sykora Auction Service, Inc. is providing Internet pre-auction as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Sykora Auction Service, Inc. or anyone else if the Internet service fails to work correctly before or during the live auction. Sykora Auction Service, Inc. will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the auction begins. Sykora Auction Service, Inc. reserves the right to withdraw or re-catalog items in this auction. TERMS & CONDITIONS PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS PLEASE DO NOT BID. BY BIDDING ON THIS AUCTION, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A CONTRACTUAL AGREEMENT TO PURCHASE THE ITEM(S) UNDER THE FOLLOWING TERMS AND CONDITIONS: CATALOG: SYKORA AUCTIONS have put forth every effort in preparing the catalog for this auction to provide accurate descriptions of all items. All lots are sold AS-IS, WHERE-IS, with all faults, imperfections and errors of description. Due diligence is the responsibility of the bidder/buyer. Printed statements or descriptions by staff are provided in good faith and are matters of opinion. There is A 4% Buyers Premium in effect for this auction. All sales are final. DEFAULT OF BUYER: Successful bidders not paying for items WITHININ SCHEDULED PICKUP & LOADOUT TIMES FOR THIS AUCTION WILL BE considered in default. Such default by the Successful Bidder will result in that Bidders liability to both the Seller and SYKORA AUCTION SERVICE Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the items either publicly or privately with SYKORA AUCTION SERVICE and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding/transporting/storage costs of the items, the expenses of both sales, legal and incidental damages of both the Seller and SYKORA AUCTION SERVICE. In addition, SYKORA AUCTION SERVICE also reserves the right to recover any damages separately from the breach of the Buyer. The purchaser agrees to pay all reasonable attorney fees and costs incurred by SYKORA AUCTION SERVICE in the collection of funds. Any debt collection or dispute proceedings will be litigated or arbitrated in Clare County, Michigan at the option of both the Seller and Sykora Auction Service. All items are sold as is where is and how is, with no warranties of any type expressed or implied concerning the merchandise/real property being sold. 6. Descriptions contained in the catalog are intended for general information purposes only. Please examine items/real estate carefully before bidding as NO REFUNDS will be given. 7. No one under the age of 18 years of age is permitted to register or bid. 8. After an item has been sold, it becomes the sole responsibility of the purchaser. All risk of loss passes to the buyer upon the declaration that the item has been sold. Any item purchased must be removed in its entirety. 11. The auctioneer may remove items from the sale at his discretion. 12. The auctioneer is the sole authority on any disputed bid, and his word is final. We reserve the right to correct any clerical errors and to re-invoice if necessary. 13. If a dispute arises out of this contract that cannot be settled through negotiation, the parties agree to try in good faith to settle the dispute by mediation before resorting to arbitration, litigation, or some other dispute resolution procedure. Any and all court proceedings resulting from a dispute are to take place in Clare MI. 14. ONLINE BIDDERS: BIDDING AND REGISTRATION INFORMATION: BIDDER VERIFICATION: Bidding rights are provisional, and if identity verification is questionable Sykora Auction has the right to reject the registration, and bidding activity will be terminated. The Seller and Sykora Auction reserve the right to preclude any person from bidding if there is any question as to the person's credentials, mental fitness, etc. Bidders agree to keep their username and password confidential as they are responsible for ANY and ALL activity involving their account. Auctioneers can view all bids including max. bids. Sykora Auction Service reserves the right to reject any and all bids for any reason and also reserves the right to cancel this auction, or remove any item or lot from this auction prior to the close of bidding. All decisions of Sykora Auction Service are final. Your bid on this auction indicates both an understanding and an acceptance of the terms of this contractual agreement between yourself and both Sykora Auction Service and the Seller and that you, as the Bidder, are prepared to purchase items under these terms and conditions. PLEASE READ: SYKORA AUCTION SERVICE INC. RESERVES THE RIGHT TO ENTER ABSENTEE BIDS ON BEHALF OF ANALOG BIDDERS OR THE SELLER AND ITS AGENTS. PERMITTING BIDS TO BE PLACED BY AUCTION COMPANY OR ITS AGENTS. While Proxibid's Unified User Agreement prohibits this behavior, in accordance with UCC 2-328, all terms have been forthcoming and by you the bidder accepted upon by registering and accepting such terms in this event!