"ONLINE ONLY" REAL ESTATE BIDDING AUCTION TERMS AND CONDITIONS REGISTRATION: Proper and complete online registration is required to bid. All bidders must provide name, address, phone number, and email address to register. Your credit card will be pinging for $1 to verify that it is a valid card. The charge will fall off your account in a few days, depending on the speed of your bank. TERMS AND CONDITIONS (The following online bidder's agreement can be found as a link under the pictures of this auction. Please print, sign and return to Coffee County Realty and Auction Company. The signed agreement can be email and / or faxed, please see below) To be approved to bid, the form will need to be received by Coffee County Realty and Auction Company along with a letter of commitment from your bank showing you have funds in the bank to cover your bid or loan approval for your bid amount. Online Auction Bidders Agreement - Bidders to sign two places on this form and return to Coffee County Realty and Auction Company prior to placing a bid. The form can be printed, signed and then emailed and/or faxed to the auction company at 931-728-1455 (fax) or emailed to CoffeeRealtyAuctions@gmail.com If you do not completely understand any portion of the following terms and conditions, seek legal advice before placing any bids. I, __________________________________(Buyer) agree to immediately enter into a Purchase Contract and present the earnest money deposit, if I am declared the high bidder (winning bidder) by the auctioneer on the following property being offered at auction: 207.88 +/- Acres located at 2105 Hickory Grove Road, Morrison, TN 37357 AUCTION BIDDING - DATE AND TIME: *Online bidding opens on Tuesday April 11th at 10:00 am. *Online bidding closes on Thursday April 27th at 2:00 pm. By signing below I agree that I have read and fully understand the Online Bidders Agreement and the Terms and Conditions of this auction. I fully understand and agree that an Online Auction Bidders Agreement MUST be signed and returned to Coffee County Realty and Auction Company, prior to being allowed to bid in the Online Auction. As a bidder, it is solely my responsibility to contact the auction company at (931)728-2800 with any questions regarding the auction, purchase agreement or terms & conditions, prior to placing any bids in this auction. All bids are final. Online Auction Terms & Conditions: 1) Bidding Registration: Online bidder hereby agrees that they must properly register for this online auction by completing and signing the (Online Bidders Agreement), and returning it to the auction company before placing any bids online. The agreement can be printed, signed and then emailed and / or faxed to the auction company at 931-728-1455 (fax) or CoffeeRealtyAuctions@gmail.com (email). 2) By Placing a bid, bidder signifies that they have examined the property to their satisfaction, or that they have chosen not to personally examine them. 3) Coffee County Realty and Auction Company reserves the right to reject any bid at their sole discretion. 4) Bidding Opens / Closes: The Online Only Auction (i.e. Internet Auction), bidding shall be opened and begin closing on the dates and times stated above. 5) Property Previews: Previews are available by contacting the auction managers (Craig Brady or Jimmy Jernigan at 931-728-2800) or the land can be preview anytime, it is vacant land. It is recommended to all bidders to personally inspect the property prior to placing any bids in the auction. Property inspections are the sole responsibility of the bidders and the property is being offered "As-Is, Where Is" with no warranty or guarantee as to the condition or suitability for any purpose. 6) No Financing Contingency: By participating in this auction, bidders hereby agree that their bid shall NOT be subjection to the bidder's ability to obtain financing. By placing a bid in this auction, bidders are making a "cash offer" to purchase the property (even if they will be obtaining a loan to buy it). Financing is NOT a contingency in the purchase agreement or the auction terms and conditions. 7) Buyer's Premium: A Ten Percent (10%) Buyer's Premium shall be added to the final bid price placed online, which will determine the Total Contract Sales Price. Bidders hereby understand that the Buyer's Premium shall be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. 8) Purchase Contract: Winning bidder hereby agrees to enter into a Contract to Purchase the property immediately upon being declared the Successful Bidder by the Auctioneer. Upon the close of the auction the winning bidder will be forwarded via email a Purchase Contract to Purchase the property. A signed copy of the Purchase Contract must be received by Coffee County Realty and Auction Company, PLLC no later than 24 hours from the time said Purchase Contract was sent to the winning bidder. The Purchase Contract may be (hand delivered, faxed, or scanned and emailed). 9) Escrow Deposit: An escrow deposit of Ten Percent (10%) of the total contract purchase price (which includes the buyer's premium) will be wire transferred or hand delivered in the form of certified funds to Coffee County Realty and Auction Company no later than 48 hours following the close of auction. The balance of the purchase price will be due in full at closing. 10) Closing: Closing shall be on or by June 12, 2017. Closing company will be Absolute Title Closing will take place at Coffee County Realty and Auction Company located at 532 Hillsboro Blvd., Manchester, TN 37355 .Closing Agent is Susan Hiles and her contact information is (931)954-5540 and her email is susan@absolutetitleservices.net . Out of state buyers will be afforded the opportunity to close via email, mail and wire transfer of certified funds. 11) Possession: Possession of the property will be given upon successful closing and transfer of title. Title shall be transferred by a (Special Warranty Deed). 12) Title Insurance: Buyer shall be responsible for any title insurance that he wishes to purchase on the property and for any taxes assessed after the date of closing. 13) Online Auction Technology Issues: Under no circumstances shall Bidder have any kind of claim against Coffee County Realty and Auction Company, PLLC, or anyone else if the Internet service fails to work correctly before or during the auction. Online bidding is subject to technology faults and issues which are outside the control of the auction company. If a technology issue or failure becomes present during the online auction, call the auction company immediately at (931)409-7653 or (931)728-2800. Bidders are strongly encouraged to use the (Maximum Bid) feature on the online bidding platform, to protect against unforeseen internet technology failure. All descriptions believed accurate but not warranted. Coffee County Realty and Auction Company reserves the right to cancel and / or reopen the auction in the case of system failures. 14) Soft Close: If a property in the online auction receives a bid within the last 3 minutes of the auction, the auction end time (close time) will automatically extend the auction an additional 3 minutes before closing. The "soft close" feature will continue to extend the bidding opportunity for 3 minutes with each newly placed bid and the property shall not close until 3 minutes have elapsed with no additional bid activity. 15) Disclaimer: All information provided is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. Information is subject to change without notice. Real Estate is being sold "AS-IS, WHERE-IS" with NO warranties expressed or implied. Please make all inspections prior to bidding. __________________________________ Bidder Signature Date