Coldwell Banker Choice Real Estate- Online Auction Buyer Terms & Conditions Thank you for participating in this Choice Real Estate Auction. It is important that you familiarize yourself with these Terms & Conditions of bidding. If you do not agree with any of the terms and conditions stated, DO NOT BID on the property linked to these Terms and Conditions (the “Property”). You will be bound by these Terms and Conditions upon the earlier of submitting a bid or confirming your acceptance of these Terms and Conditions. As used in this Agreement, "you" are an individual acting on your own behalf, or "you" are an agent of a person or entity that has authorized you to act on that person's or entity's behalf. Good luck and good bidding! 1. BY BIDDING IN THIS ONLINE TIMED AUCTION YOU ARE ENTERING INTO A BINDING AGREEMENT AND ARE AGREEING TO BE BOUND BY THE TERMS AND CONDITIONS SET OUT HEREIN. You warrant or certify that you are at least 18 years of age (or older, if required by applicable law) and possess the legal authority and capacity to accept and agree to these Terms and Conditions. You are obligated from the time you place your offer or bid to complete any purchase for which your offer is accepted or your bid represents a winning bid. You may not retract any offer or bid. You may not influence or manipulate the offering or bidding process to compel other buyers to accelerate their offers or bids or hamper others from offering or bidding without interference. The owner of the Property (“Seller”) is forbidden from bidding. 2. HIGHEST OR ANY BID FOR THE PROPERTY NOT NECESSARILY ACCEPTED. 3. Within two (2) business days of the auction ending, Choice Real Estate Ltd., o/a "Coldwell Banker Choice Real Estate" (hereinafter, "Choice Real Estate") will email winning bidder the Contract of Purchase and Sale. Within 24 hours of receiving the Residential Contract of Purchase and Sale, the successful bidder on the Property (the "Buyer") will: a) sign the Contract of Purchase and Sale, any other documents related to the sale provided by Choice Real Estate (collectively, the "Purchase Agreement") and return them to Choice Real Estate; b) provide Choice Real Estate with photo identification and such other identification and documentation as is required to ensure compliance with the Financial Transactions and Reports Analysis Centre of Canada ("FINTRAC"); and c) pay a deposit of ten percent (10%) of the sale price for the Property in Canadian currency via cash, wire or bank draft of immediately available funds (the "Deposit"), to be held by Choice Real Estate in accordance with the terms of the Purchase Agreement. The balance of the purchase price, as adjusted by the Purchase Agreement, (excepting mortgage proceeds if the Buyer is utilizing mortgage financing) is to be paid to the Seller’s lawyer in full via cash, wire or bank draft of immediately available funds two (2) business days before the closing/possession date specified in the Purchase Agreement (the "Closing Date"). Further, Buyer acknowledges and agrees that Buyer will: a) retain the services of a lawyer licensed to practice law in the Province of Saskatchewan, Canada, to complete this transaction for them; b) if applicable, have signed all mortgage documentation required by Buyer’s mortgage lender atleast two (2) business days before the Closing Date; c) place insurance on the Property on a replacement cost basis or with coverage amounts acceptable to Seller and Buyer’s mortage lender (if applicable), such insurance to be in full force and effect on the earlier of the Closing Date or the date that the Buyer takes possession of the Property if early possession is agreed to and granted by Seller; and d) pay late interest as specified in the Purchase Agreement on any portion of the purchase price not received by the Seller or Seller’s lawyer on or before the Closing Date. Failure to do any of the foregoing listed in this Section 3 within the time limits specified shall, at the option of the Seller, invalidate, terminate and forfeit your bid and Choice Real Estate shall be entitled, acting on the instruction of the Seller, to relist the Property for sale on the website operated by the online auction service provider utilized by Choice Real Estate to host the auction (the “Auction Provider”), contact other bidders in an effort to conclude a sale on terms acceptable to the Seller, or attempt to sell the Property through means other than a timed online auction. Buyer acknowledges and agrees that Seller shall not enter into any short term tenancy or tenancy at will agreements due to Buyer’s failure to comply with the requirements of this Section 3. 4. Unless otherwise specified in the Purchase Agreement, Buyer will receive title to the Property free and clear of all financial encumbrances such as mortgages granted by Seller, or judgements or liens registered against Seller, but subject to all other interests registered on title, such as utility easements and other registrations. 5. Municipal taxes and all other items subject to adjustment in the Purchase Agreement, will be adjusted as of the Closing Date, unless otherwise specified in the Purchase Agreement. 6. Buyer is responsible for paying all land title transfer and mortgage registration fees. Buyer is responsible for compliance with condo bylaws requirements, transfer fees, and membership fees, if applicable. Buyer is to obtain any required financing at Buyer's sole cost and have such financing approved prior to bidding. 7. The Purchase Agreement will not be contingent upon financing, inspections, the sale of other Property owned by the Buyer or any other contingencies or conditions excepting any such conditions as are mutually agreeable to Buyer and Seller and are written into the Purchase Agreement. Home inspection and Property Condition Disclosure Statement (if available) for residential properties will be provided by Seller and posted on the listing for the Property on the Auction Provider’s website and copies of such reports and a copy of the SASKATCHEWAN REAL ESTATE COMMISSION ANCILLARY SERVICES IN THE PURCHASE OF RESIDENTIAL REAL ESTATE document will also be provided to Buyer with the Purchase Agreement so they can be reviewed by Buyer prior to signing the Purchase Agreement. Additional inspections are at the sole cost of the Buyer and must be mutually agreed upon between Buyer and Seller in advance. 8. Choice Real Estate and its employee(s), servants and agents are representing the Seller(s) as the Sellers Agent(s) unless a dual agency agreement is entered into between Buyer, Choice Real Estate and Seller. If Buyer elects to represent themselves or utilize the services of its own agent or real estate brokerage, Buyer hereby acknowledges that Choice Real Estate shall owe Buyer no fiduciary duties and waives all right to assert such duties were owed to Buyer and further releases and discharges Choice Real Estate from any and all losses, liabilities, damages and costs (including solicitor-client legal costs) from alleged breach of fiduciary duty. 9. All properties are sold “AS IS, WHERE IS and WITH ALL FAULTS”, without any warranties expressed, implied or guarantees of any kind. Unless a limited dual agency arrangement is put in place in writing with you, Choice Real Estate represents the Seller only and does not inspect properties on behalf of Buyer or Buyer’s representative or agent. All measurements, square footage & age are approximate and not guaranteed. Seller and Choice Real Estate make no warranty as to accuracy of information. All information is believed to be accurate, but the accuracy of such is not guaranteed. Buyer to verify ALL information, to Buyer’s satisfaction, before bidding. You may contact Choice Real Estate to arrange a viewing of the Property before bidding. No action taken by Choice Real Estate or its agents shall create any express or implied warranty regarding the Property except as specifically stated in the Purchase Agreement. Choice Real Estate specifically disclaims any express or implied warranties including, but not limited to, any warranty of merchantability, fitness for a particular use, conformity with environmental laws or zoning requirements, non-infringement, accuracy, title, or any other warranty, except as specifically stated in the Purchase Agreement. 10. Choice Real Estate online auctions are designed to simulate traditional “live” auctions. For this reason, a “soft” closing process is used that will allow extended bidding beyond the scheduled end of the auction if any bids are received in the final minute of the scheduled auction time, until no bids are placed for five (5) minutes in order to ensure all bidders have a fair opportunity to submit any final bids. 11. If you are the successful bidder, you will receive an email from the Auction Provider stating that you may have won an item. Thereafter, if you are the successful bidder, Choice Real Estate will send you the email referenced above in Section 3, confirming you are the successful bidder, with the Purchase Agreement and related documents and requesting the execution and return of the enclosed documents and payment the Deposit in accordance with Section 3 above. 12. Choice Real Estate reserves the right to revoke any bidder's right to bid at any auctions facilitated by Choice Real Estate before, during and after an auction closes if instructed to do so by the Seller. Choice Real Estate reserves the right to amend these TERMS AND CONDITIONS. All modifications and amendments will be posted on the TERMS AND CONDITIONS section of Choice Real Estate’s listings on the Auction Provider’s website, including the listing for the Property, and you are responsible for regularly reviewing and understanding these modified or amended terms and conditions. Unless otherwise specified by Choice Real Estate or by law, any modifications or amendments shall be effective immediately upon posting. 13. To gain access to this online auction, you will need to register and create a user name and password on the Auction Provider’s website. You must be eighteen years old or older to register. You agree that all information that you provide during the registration process will be true and accurate. You will be banned from participation in Choice Real Estate auctions indefinitely should you provide any false information during the registration process. 14. Whether you are a new or returning bidder, you agree that if any of the information associated with your user account and bidder number - including contact information and credit card information - changes at any time prior to, during, or after this sale, you will update your bidder profile. 15. You agree not to use any hardware, software, program, or system that would interfere with the orderly conduct of this sale. You further agree not to copy, reproduce, or publicly display any content from Choice Real Estate’s listing(s) on the Auction Provider’s website or Choice Real Estate’s website without first obtaining written permission from Choice Real Estate. 16. You are bidding based on the description, inspection reports and photos provided, as well as your own inspection of the Property and/or inspections of the Property conducted by you or your agent(s). Carefully inspect the description, inspection reports and photos to ascertain the state of the Property and feel free to contact Choice Real Estate to arrange a viewing of the Property should you wish. If you are not certain of the condition or suitability of a Property, please contact Choice Real Estate for further information BEFORE BIDDING. 17. If you are outbid during the course of this auction, you will be notified by email if you have chosen this option when you registered to bid. You can see if you are high bidder at any time using the "Watch List" feature. Items which you have put on the Watch List will show the bidder name of the high bidder. 18. You must carefully review every bid you choose to make before submitting each bid. Once made, all bids will be legally binding, even a bid that increases your own lower bid. You are responsible for all bids made from your account. If you believe that an unauthorized person has gained access to your account, you must notify Choice Real Estate immediately, and BEFORE THE AUCTION CLOSES by sending an e-mail to Josh.r.leblanc@gmail.com or by telephone at 306.421.6778. You must also report the incident to the relevant law enforcement authorities and send Choice Real Estate a copy of any resulting police report. You understand and agree that if you do not promptly report any suspected fraud to Choice Real Estate and to the relevant law enforcement authorities, before the auction closes, Seller may hold you personally responsible for all purchases made using your account and bidder number. 19. All aspects of this auction are subject to change without notice. If instructed to do so by the Seller, Choice Real Estate reserves the right to, at any time: (1) add or remove the Property from the auction, (2) add minimum bids or reserve prices, (3) cancel, suspend, extend or reschedule the sale of the Property, (4) make changes to the auction's closing, inspection, or removal times, or (5) take any other action deemed necessary to effect the fair conduct of this sale or protection of your, Seller’s, or other parties' interests. 20. All claims or disputes arising out of or relating to these Terms and Conditions or the Purchase Agreement shall be governed by and in accordance with the laws of the Province of Saskatchewan. The parties hereto agree that all disputes about these Terms and Conditions and the Purchase Agreement shall be litigated in a Court of competent jurisdiction in the Province of Saskatchewan. 21. You agree that the Seller may seek interim or permanent relief against you for any breaches of these Terms and Conditions or the Purchase Agreement in order to protect any rights or property that the Seller may have, including without limitation, injunctive relief and actions for specific performance to enforce these Terms and Conditions and the Purchase Agreement. 22. Choice Real Estate will not be liable for any losses, liabilities, damages, or costs incurred in connection with the postponement or cancellation of this auction, or the withdrawal of the Property from this auction. In no event will Choice Real Estate be liable for lost profits or any special, incidental, or consequential damages arising out of or in connection with this auction or any related sale or transaction. Choice Real Estate is not responsible for any action taken by the Seller, you, other bidders, or other third parties before, during, or after this auction. You understand that this online auction relies on devices, hardware, software and programs that may malfunction without warning. Choice Real Estate will not be liable for any computer, internet or website malfunctions. Choice Real Estate shall be held harmless from and against any all losses, liabilities, damages or costs arising from internet service failures, power outages, computer hardware and/or software failures or malfunctions, before, during or after the auction. 23. You further understand and agree that Seller may void or suspend any sale, or resell the Property, if a transaction is determined to have been affected by any website or technological malfunction. 24. You agree to indemnify, defend, and hold harmless Choice Real Estate and its employees, officers, owners, affiliates, agents, and representatives from and against any claims, losses, damages, liabilities, judgments, fees, costs, and expenses, including solicitor-client legal fees and costs (collectively “Claims”), related to, arising from, or associated with you, your agents or representatives including, but not limited to, lost opportunity to purchase, lost profits or anticipated profits, personal injury or property damage, any dispute with another bidder, or any breach of these Terms and Conditions or the Purchase Agreement. You hereby waive the right to seek recovery of any Claims against Choice Real Estate, and hereby release and discharge Choice Real Estate from and against any and all such Claims for any of the foregoing, and any alleged breaches of these Terms and Conditions or the Purchase Agreement. 25. These Terms and Conditions do not, nor are they intended to create any agency, partnership, joint venture, employer-employee, or franchisor-franchisee relationship between you and Choice Real Estate, except as specifically stated otherwise in the Purchase Agreement. 26. If any term, provision, paragraph, condition, or other portion of these Terms and Conditions or the Purchase Agreement, or the application of them to any person, place, or circumstance, is held to be invalid, unenforceable, or void, the remainder of these Terms and Conditions and/or the Purchase Agreement, as the case may be, will remain in full force and effect. 27. These Terms and Conditions contain our entire agreement and supersede any prior oral or written agreements relating to the same subject matter. Once signed, the Purchase Agreement shall be paramount and supercede any provision of these Terms and Conditions to the extent that they conflict. 28. The failure of Seller to enforce any of these Terms and Conditions or the Purchase Agreement, or respond to a breach by you or other parties shall not in any way waive its right to enforce subsequently any terms or conditions of these Terms and Conditions or the Purchase Agreement or to act with respect to similar breaches. 29. Choice Real Estate reserves the right to have payment made by cash, bank draft or wire transfer of immediately available funds only. All bids, and payments in this sale will be made in Canadian Dollars.