Online Only Auction Real Estate Bidding Terms and Conditions Please Read the following terms carefully. By registering for this auction, you acknowledge that you have read and understood all terms and conditions herein and set forth within the supporting documentation described in the terms and that you have inspected the property or had the opportunity to do so. If you do not agree to these terms, please DO NOT bid! The property will be offered in three tracts: Tract 1: 741+/- Acres Tract 2: 848+/- Acres Tract 3: 442+/- Acres Tract 4: 2,031+/- Acres The property will be offered through Bonnette Auction Company. Bidders will have the opportunity to bid on each tract individually, or as a whole. The final sales configuration that produces the highest offer to the seller will determine how the property sells. Bidder Registration and Verification: For verification purposes, a credit card is required in order to register for this auction. Upon registering, a charge of $1,000.00 will be charged against the credit card used for registration. You will need to call our office to complete this transaction. If you are not the successful bidder, then funds will be returned to your card the following day. Please be advised that Bonnette Auction Company has no control over the length of time the charge remains on your card, that is at the sole discretion of your credit card company. Bonnette Auction Company reserves the right to reject or accept bidder registrations at its sole discretion. Terms of Sale: At the close of the auction, successful bidders will be emailed a contract package. Included in the contract package will be the purchase contract as well as instructions for submitting your earnest money deposit. The required earnest money deposit will be 10% of the total contract price (bid price plus buyer’s premium). Bid Increments: The bidding will be in $50 increments. Bonnette Auction Company reserves the right to adjust bid increments as needed. Scheduled Auction End Times: The Auction is scheduled to end at the published end time, subject to auto-extend bidding. Each time a bid is placed with the clock showing less than 10 minutes, the clock will reset to 10 minutes. In the event the auto-extend time needs to be reduced, Bonnette Auction Company reserves the right to adjust the auto-extend, as needed. Buyer’s Premium: A 10% Buyer’s Premium will be added to the bid price for each property to determine the final contract price. For example, if your final bid price is $100,000, 10% ($10,000) will be added, resulting in a total contract price of $110,000. Contract for Sale: This property is offered under the specific terms provided in the Contract for Sale. The Contract for Sale is available for review at www.BonnetteAuctions.com. Please fully read and review the Contract for Sale prior to bidding. If you have any question or concerns to anything included in the Contract for Sale, please contact Bonnette Auctions prior to bidding. Please do not bid prior to reviewing the Contract for Sale Document. Contract Special Stipulations: The buyer will pay closing costs, and close within 30 days of the auction closing date. The buyer will choose their own closing attorney. Seller guarantees clear title. Any surveys will need to be paid for by the buyer. The taxes will be prorated between the seller and purchaser as of the date of closing. This property is being conveyed by General Warranty Deed. Possession of the property will be granted at closing. This property is sold subject to all outstanding easements on said property for roads, power and telephone lines and the like and likewise subject to any cemetery or cemeteries that may now exist on this property. As Is, Where Is: All property is selling “As-Is, Where Is” with all faults. It is the buyer’s responsibility to conduct any and all inspections and perform all acts of due diligence deemed necessary before bidding. Placing a bid will be considered as acceptance of the property in its as-is condition. Bid Cancellation:Bonnette Auction Company reserves the right to remove or cancel the bids and bidding privileges of the party at any time that bids or bidding is deemed to not be in the best interest of the seller. Earnest Money Deposit: Upon the close of the auction, successful high bidders will be required to submit the required earnest money deposit as stipulated in the Contract for Sale. The required earnest money deposit will be 10% of the total contract price (bid price plus buyer’s premium). The successful bidder will have 24 hours to send the earnest money in the form of Wire Transfer. Real Estate Closing: With timing being of the essence, each contract will be a cash contract, not contingent or subject to financing, appraisal, or survey, as described in the Contract for Sale. The closing will take place no more than 30 days from the end of the auction as stipulated in the Contract for Sale. The Buyer will be responsible for all closing costs and the transaction will be conducted by the closing attorney specified in the Contract for Sale. Agency Disclosure: Bonnette Auction Company is acting as agent for the seller and at no time is Bonnette Auction Company responsible for, acting on behalf of, or acting as agent for the buyer. Full agency disclosure will be acknowledged by both seller and buyer on the Agency Disclosure form attached as Exhibit “C” on the Contract for sale. Disclaimer: Bonnette Auction Company believes all information contained herein to be correct to the best of our knowledge. All information is being furnished to bidders solely for the bidder’s convenience and it is always the responsibility of the bidders to determine the accuracy and completeness of all information. Reliance on information provided is solely at the risk of the recipient. Bidders should always conduct their own due diligence, inspections, and investigations prior to bidding. Bidders needing assistance should seek necessary assistance prior to placing a bid. www.BonnetteAuctions.com