TERMS NOTICE TO ALL BIDDERS 1. The TERMS OF THE SALE are all cash at time of Closing. The contract is not subject to condition of financing or any other contingencies. You must be sure that your financing is arranged, if needed, or that you are capable of paying cash at closing. 2. Property sells subject to confirmation. 3. Property sells with a 10% buyer's premium. 4. The high bidder shall have 2 hours from the conclusion of the auction to make the required deposit in the amount of the $10,000 to the William Kent Inc. Real Estate Escrow Account, Bank of Castile by wire transfer OR by delivery of a $10,000 certified check made to William Kent Inc. to the office of William Kent Inc. Stafford, NY. THERE ARE NO EXCEPTIONS TO THIS RULE! This deposit will be held in Escrow. If the property fails to close for any reason other than the seller's breach, the deposit will not be refunded. 5. The property sells in "AS IS" condition without exceptions. Compliance with any government regulations, including but not limited to septic system and wells, will be the responsibility of the buyer. Fixtures and appliances are sold in "AS IS" condition. Seller makes no representations or warranties, expressed or implied regarding the same. 6. Seller will convey to buyer the premises by Bargain and Sale deed. 7. Parcels will transfer as per deed description. 8. This Contract of Sale has been reviewed and approved by the Sellers' attorney. When signed, the Contract of Sale becomes a binding contract. Buyers must review this Contract with their Attorney prior to bidding to obtain his or her written approval letter to present with their offer or they must elect to waive Attorney approval.