Online Bidding Terms and Conditions of Sale BIDDER REGISTRATION: Prospective Bidder must read and agree to the Terms and Conditions of the auction. BID DEPOSIT: Prior to being approved to bid Online, Bidder agrees to provide proof of funds equal to $100,000.00. Such proof should be emailed to info@leauctions.com. The Bidder who submits the approved winning bid at the auction must be prepared to pay a NON-REFUNDABLE BID DEPOSIT equal to Ten Percent (10%) of the winning bid amount. This may be paid by wire transfer or a cashier’s check in U.S. Dollars from a U.S. Bank within 24 hours of such approval. PROPERTY INSPECTION: Property inspections are available. Please see the property web page for Open House details. 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, LEAC 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, LEAC 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, LEAC or their Agents. BUYERS PREMIMUM: Buyer agrees to pay a Buyer’s Premium equal to Ten Percent (10%) of the winning bid, which will be added to their bid to determine the total Purchase Price for the property. FINANCING: The Sale will be not be contingent on financing of any kind. It is strongly recommended that prospective purchasers pre-qualify for financing prior to the auction. 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. All closing costs not specified by law required to be paid by Seller will be the responsibility of the Purchaser. The Property must be closed and funded in U.S. Dollars from a U.S. Bank within thirty (30) days from the auction date. Time is of the essence. ADDITIONAL NOTES: a) This property is being sold subject to Seller’s confirmation. The Seller and LEAC 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. 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 Purchaser 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. 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 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. f) THESE GENERAL TERMS AND CONDITIONS OF SALE DO NOT CREATE ANY LEGAL OBLIGATIONS ON THE SELLER AND LEAC. IF THE SALE FAILS TO COMPLY WITH ANY OF THESE GENERAL TERMS AND CONDITIONS OF SALE FOR ANY REASON, SELLER AND LEAC SHALL HAVE NO LIABILITY OR OBLIGATION WHATSOEVER. THE WINNING BIDDER’S ONLY REMEDY WILL BE THE RETURN OF THE BIDDERS’ BID DEPOSIT (IF PAID). THESE GENERAL TERMS AND CONDITIONS OF SALE NEVERTHELESS ARE BINDING UPON AND MUST BE COMPLIED WITH BY ANY PERSON OR ENTITY SUBMITTING AN INITIAL OFFER. g) Title with respect to the Property will be delivered as provided in the Real Estate Sales Contract. h) If Purchaser 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.