Terms And Conditions Real Estate Auctions Notification: All Registered Bidders, associates and/or employees of Companies who are acting as bidders on the Company’s behalf, and all other individuals in attendance and/or participating in this Auction in any way, either live on site, by Proxy Bid, or by remote Internet Bidding on Proxibid.com agree that they have read and understand these Terms and Conditions and further agree that they will abide by all the Terms and Conditions of this Auction as stated in this document. They further agree to be bound by any changes or modifications to these Terms and Conditions which are documented either on this web site, in writing at the Auction location, or announced verbally at the auction site prior to the beginning of the Auction. They also agree that their failure to be in attendance and to hear any verbal announcements made prior to the Auction, either live on site or by any available Internet on-line bidding opportunity conducted for the Auction, does not in any way reduce the rights of the Seller or The Auction Group and ERA Wilder Realty to enforce these terms and conditions. Bidders attending without being present for previews or opening announcements waive all rights to dispute and accept full financial responsibility for any bidding errors. 1. Contract For Sale, Deed, Certificate of Occupancy - All Real Estate purchased at auction must use the CONTRACT FOR THE SALE OF REAL ESTATE form furnished by USDA Rural Development, The Auction Group, L.L.C. without exception. Any Purchaser agrees to this by their registration to bid. No exceptions will be allowed. All properties will be conveyed to the Purchaser by the Seller with a Quit Claim Deed. All properties are subject to the Deed Restrictions placed on each property by UDSA Rural Development. A copy of the Deed Restrictions for each property is provided. 2. Buyer’s Premium – A Buyer’s Premium of five (5%) percent or $2,500.00, whichever is greater, will be added to the High Bid Price to determine the Final Contract Price. For Internet Bidders, the Buyer’s Premium will be six (6%) percent or $3,000.00, whichever is greater and will be added to the High Bid Price to determine the Final Contract Price. 3. No Contingency Contracts Accepted - The sale of this property is non-contingent on financing. Buyer agrees to provide the seller, on sale day, verification of sufficient and available funds for the specified closing. 4. Closing Date – Closing must be within thirty (30) days of the auction. All Closings will be conducted by the selected Closing Attorney Firm. No Exceptions. 5. Closing Costs – The Seller will provide clear title via a Quit Claim Deed. The Seller is a Government Entity and as such is exempt from Deed Stamps. All other Closing Costs are the responsibility of the Purchaser. 6. Down Payment – A Non-Refundable Down Payment of ten (10%) percent of the Final Contract Price with a minimum of Five Thousand ($5,000.00) Dollars, whichever is greater will be due on the day of the Auction. If the 10% value is greater than $5,000.00, the balance due must be delivered to The Auction Group by 4:00 p.m. on Tuesday April 16, 2013 to complete the total Down Payment due. A Deposit may be required in order to register to bid. 7. All Properties are Sold “As Is, Where Is, and With All Faults”. No Guarantees or Warranties of any kind are provided. 8. Bidders Identification – All bidders, or purchasers, are required to provide The Auction Group their Full Name, Address, and Phone Number as a condition of being registered to bid at the Auction. All bidders, or purchasers, must present a valid picture ID at the time of registration. Bidders, or purchasers, bidding via Proxibid, must fax or email a copy of their picture ID at the time of registration online. 9. Addition Of, Removal Of, and Modification of Lots in the Auction – The Auctioneer reserves the right to add Lots to the Auction which have not been previously listed for sale, and to remove any Lots or items previously announced as for sale at the Auction. The Auctioneer also reserves the right to alter the order of the sale. 10. Payment of Invoices – All invoices must be paid in full at the conclusion of the Auction. No title will be given until all cost is paid in full at Closing. Failure to abide by these payment terms will result in all lots purchased by the bidder being determined to be abandoned with the Buyer rescinding all rights, title to, or interest in the merchandise. The rights to, ownership of, title to, and full interest in the merchandise shall revert to the Seller / Auctioneer without the requirement of any further notice to the Buyer and the sales transaction shall be considered null and void. Any deposit or Down Payment made by the Buyer shall be forfeited to the Seller / Auctioneer. 11. Manner of Payment – All payments must be made by the accepted forms of payment found in the section entitled Payment Options for each Auction. Unless otherwise noted, the accepted forms of payment include Cash, Cashiers Checks, approved Wire Transfers, Certified Funds, and Company and/or personal checks which are accompanied by a Bank Letter Of Authorization which guarantees payment of all funds to The Auction Group or to any other designated payee for any Auction. All payments must be made within the time restrictions announced for any Auction. 12. Information on Items Sold at the Auction – All lots are sold “As Is, Where Is, With All Faults”. The Auctioneer shall not be responsible for any incorrect description of the home, or any concealed damage to any lot. The Auctioneer makes no warranty or guarantee at all, either written, verbal, expressed, or implied in any fashion. No sale will be set aside, nor any allowance or discount made, for any reason, including but not limited to the description of the item, any comment made about the item, or any imperfection which is not noted regarding the item. By registering to bid, the bidder forfeits all rights to recourse regarding this section. 13. Failure to Comply with All Terms of Sale of the Auction – If the Buyer is determined to be in default of the full payment of any and all invoices relating to the Auction, the Auctioneer shall, in addition to any and all other remedies allowed by law, be entitled to retain any and all monies which have been received as deposits, partial payments, or for any other reason from the Buyer as liquidated damages. Any Lots not paid for in full may be resold by any method by the Auctioneer without any notice to the defaulting Buyer. The defaulting Buyer shall be liable for any deficiency in the resale price when compared to the Buyer’s total purchase price at the Auction, including any Buyer’s Premium and also including any expenses and costs pertaining to the resale of the item. 14. Bidders Disputes – If any dispute between bidders arises as to who is the high bidder, the decision of the auctioneer is final. Once an item is declared sold, the bidding on the item shall not be reopened. Every attempt will be made to assure that all bidders are aware of their bid position prior to the hammer fall and sold declaration. The decision of the Auctioneer will be absolute and final. 15. Record of the Sale – A written, or computer recorded, record of the sale, including final high bid prices and winning bidders, is kept by the Auctioneer and Clerk of the Auction. The Auction Group compiles a digital voice recording and/or video recording of all Auctions. This (these) recording(s), if available, will be used to confirm information recorded by the Auctioneer and Clerk of the Auction in the case of any dispute. If recordings are not available, the written or computer recorded sale information as compiled by the Auctioneer and Clerk of the Auction will be final in any dispute between bidders. 16. Bid Increments – The Auctioneer reserves the right to reject fractional bid increments if, at their sole discretion, the Auctioneer determines that acceptance of the fractional increment will be detrimental to the sale. The decision of the Auctioneer will be absolute and final. 17. Agency - The Auctioneer and The Auction Group are acting as an agent of the Seller and are not responsible in any way for their actions. 18. Additional Terms and Conditions – The Auctioneer may at their sole discretion modify these Terms and Conditions for any sale by printed notification in the Sale Catalogue, publication on this web site or by printed or verbal announcement at the sale site prior to the start of the sale. ALL PROPERTIES ARE SUBJECT TO PRIOR SALE !!! All items sell AS-IS with no warranties or guarantees expressed or implied. All Sales Final. We reserve the right to add or delete items prior to sale time and any announcements made day of sale take precedence over previous printed or electronic matter. Announcements day of auction take precedence over any previously printed, website, or spoken materials. High bid amount plus the Buyers Premium will be considered the final contract price. All information deemed reliable but not guaranteed. Bidders not present for preview waive all rights. For bidder registration contact Michael Moore, SCAL #3931, @ (803) 917-1205. To preview items before the auction date, contact Michael Moore @ (803)917-1205.