Online Bidding Terms and Conditions of Sale: EACH BIDDER agrees to the terms and conditions of the sale. By bidding you agree to be bound by the terms and conditions of this auction. Do NOT bid unless you agree to be bound by these terms and conditions. BIDDER’S DEPOSIT: Prospective Bidders must be prepared to pay a NON-REFUNDABLE BID DEPOSIT if you are the winning bidder equal to Ten Percent (10%) of your winning bid amount. This must be paid by wire transfer in U.S. Dollars from a U.S. Bank or Credit Union within 2 business days of the date of the signed Real Estate Sales Contract . The 10% deposit will be refunded if Seller is unable to deliver a marketable title and shall be the only recourse for Buyer. PROPERTY CONDITIONS: Except as expressly set forth in the Real Estate Sales Contract, if and when executed, the Property is being sold “AS IS” and “WITH ALL FAULTS”, as of the Closing Date. Neither the Seller, USLL nor any of their agents, contractors, attorneys, officers or directors (“Agents”) makes any representations or warranties with respect to the physical condition of the land or any improvement thereon, the Property’s fitness for any particular purpose, the Property’s merchantability, or any other warranty, express or implied. The Seller, USLL and their Agents specifically disclaim any warranty, guaranty, or representation, oral or written, past or present, express or implied concerning the Land and Improvements thereon. Bidders are expected to undertake their own independent physical inspection of the Property and thorough review of all documents prior to submitting their Initial Offer and to submit their bids based solely on their own independent investigations and findings and not in reliance on any information provided by the Seller, USLL or their Agents. Entry into the property is granted to Bidders and the professionals of their choosing with the express purpose of inspecting the property in a prompt fashion and in a way that least disturbs the property. Any such entry at any time is at the Buyer’s and Buyer’s professionals own risk. TITLE / CLOSING: The Property will be conveyed by Warranty Deed, subject to any and all Deed Restrictions, Easements, Leases, and other Reservations and Exceptions of Record. Balance of purchase price along with all closing costs will be due within 21 calendar days. Buyer to pay all closing costs including 10% buyer’s premium, title insurance, revenue/tax stamps, transfer taxes, closing fees, survey, filing costs, and any other fees. Seller will cure any title problems if necessary. Taxes will be prorated to the day of closing. Properties sell subject to court, bank and/or seller’s final approval. The court, bank and/or seller retains their right to bid or have someone bid on their behalf. Possession will be upon closing with filing of deed. ADDITIONAL NOTES: a) The Seller and USLL reserve the absolute right, in their sole and absolute discretion, to postpone or cancel the auction, to amend, modify or add any terms and conditions to these General Terms and Conditions of Sale and to announce such modifications or additional terms and conditions on or before the Online Auction. The Property may be withdrawn without notice and the Seller retains the right to cancel the sale at any time prior to signing a Real Estate Purchase and Sale Contract. To the extent there is any conflict between the provisions of these General Terms and Conditions of Sale as set forth herein and the Real Estate Sales Contract, the terms of the Real Estate Sales Contract shall govern. Written and oral announcements shall take precedence over prior printed information; however, the final executed Real Estate Sales Contract will evidence all understandings and agreements between Buyer and the Seller and will be in all respects controlling. b) All prospective Bidders are urged to carefully review all provisions of these General Terms and Conditions of Sale including but not limited to those provisions regarding the absence of any representations or warranties whatsoever, as to the accuracy or completeness of the Property Information Package, or any other information and as to the absence of any authority on the part of any person or entity to make any guarantees, promises, statements, representations or warranties. All Bidders will be charged with full knowledge of all documents available for inspection or reasonably available from the governing municipality, county, and/or state. c) The Property is being sold “As Is” condition without any warranties or representations, express or implied. The accuracy and completeness of the information contained in the marketing material and in the PIP cannot be guaranteed, and prospective Bidders are advised to independently verify any information they deem important. d) All square footages, acreages, dimensions and sizes set forth for the Property are approximate only, based on the best information available and should be verified independently by prospective Bidder. e) The Winning Bidder shall not assign its right under the Real Estate Sales Contract to any other party without written consent by the Seller. If Buyer defaults under the terms of the Real Estate Sales Contract, then the Seller will declare such default, terminate the Real Estate Sales Contract and retain any and all Bid Deposits as liquidated damages (and not as a penalty) pursuant to the terms of the Real Estate Sales Contract. FINANCING TERMS: Seller is offering the winning bidder a seller financed mortgage at a fixed rate of 7%. Payment amortized over 30 years, with the full balance Due at the end of 10 years. NO PREPAYMENT PENALTY. The down payment will be 20% of the winning bid before calculating buyer’s premium. Buyer’s Premium is not part of the down payment, it is a separate fee , and does not reduce the loan balance in any way. Bidders have the option to accept seller financing, but may choose to close in cash if they so desire. Larger down payments or shorter loan terms will also be considered for the winning bidder, should they wish. Bidders are encouraged to visit https://www.calculator.net/amortization-calculator.html or similar amortization resources to calculate the monthly payment (over 30 years) based on their bid amount. As an example: A winning bid of $50,000 20% down payment = 10,000 10% Buyer's premium = 5,000 Loan balance = 40,000 Monthly payment= 266.12 Seller retains the right to run a full credit check on the winning bidder as well as request documents to show income. Lower Credit scores are acceptable based on Seller’s review. Seller has the right, at their sole discretion, to decline to offer seller financing to borrowers who cannot demonstrate a reasonable expectation of being able to pay the monthly payment. A $697 underwriting fee will charged to the Buyer at closing.