PROPERTY INFORMATION PACKAGE PURPOSE: To provide Terms and Conditions of sale for the subject property. LEGAL DESCRIPTION: 170 +/- Acres, Lamar County, Texas * Property ID: 81327 - A560 A MC LENNAN SURVEY, TRACT 41, ACRES 22.5 * Property ID: 91386 - A111 E M BENNET SURVEY, TRACT 4 ACRES 129 * Property ID: 91388 - A97 J BAKER SURVEY, TRACT 5 ACRES 35.0 - SOLD ADDRESS: * Tract 1, A1 County Road 25630, Petty, TX 75470, Property ID: 91388 - SOLD * Tract 2, A2 County Road 25630, Petty, TX 75470, Property ID: 91388 - SOLD * Tract 3, A3 County Road 25630, Petty, TX 75470, Property ID: 91388 - SOLD * Tract 4, A4 County Road 25630, Petty, TX 75470, Property ID: 81327 and 91386 * Tract 5, A5 County Road 25630, Petty, TX 75470, Property ID: 81327 and 91386 * Tract 6, A6 County Road 25630, Petty, TX 75470, Property ID: 91386 SPECIFIC TERMS and CONDITIONS Terms and Conditions of the sale may change. Certain requirements may vary from sale to sale. Such changes shall be considered specific terms of the sale. Specific terms and conditions may include, however not limited to the amount of Option Money Required, Escrow Deposits, Time to Close, Auctioneer Fees, Real Estate Brokerage Requirements. Other terms that apply to the property being offered. Such terms may change without individual notice. It is incumbent on the purchaser to read all terms and conditions prior to bidding or making an offer. ORDER OF SALE The Broker – Auctioneer shall determine the order of sale and shall retain the right to schedule, reschedule or determine the platform and how the sale will be processed. A property may be offered as a single property or the property may be divided into separate parcels. {*Most single-family homes would be of ered in a single listing. Land may be divided into multiple tracts. *} The method that produces the best offer to the seller will determine how this property sells. Property is selling subject to owner confirmation. Owners have initiated the liberty of bidding and may make adjustments accordingly. Seller has authorized to refuse bidding privileges to persons that do not qualify or to those that will not comply with bidding procedures. PROCESSING of BIDS (OFFERS) Broker – Auctioneer under the direction of the seller may process bids (offers) submitted with proper qualifications that satisfy the sales process. Additional information may be found under the Bid Administration tab. Bids (Offers) may be subject to additional payments or fees such as auctioneers fee, buyer premiums, closing costs. OPENING BID Property ID: 81327, 91386 and 91388 * Tract 1, Tract 2, and Tract 3 - 31.8 Acres: $ 122,500.00 - SOLD * Tract 4 - 60.9 Acres: 0.00 * Tract 5 - 46.9 Acres: 0.00 * Tract 6 - 62.3 Acres: 0.00 Total for 201.9 Acres An opening bid is required to initiate purchase rights. Bids (offers) may be lower than the suggested opening bid, however may not warrant suitable or acceptable requirements of the seller. All being subject to Multiple Offer Management. Opening bids or subsequent bids remain conditional. PURCHASE AND SALE AGREEMENT (CONTRACT SAMPLE) Will be available for review prior to bidding upon request. Purchaser will be required to execute and return immediately after the bid award along with required payments. SALE TYPE - AGENCY Seller Confirmation. Brokers - Auctioneers represent Sellers. TAXES Taxes currently due shall be prorated on the day of closing. Estimate Annual Taxes $ ______________ INSPECTIONS PREVIEW Purchasers may conduct inspections prior to sale date. Special requests considered. Text (469) 460-4848. SALE DATE Actual day the purchase and sale agreements or other contract documents are executed to confirm the sale bids are due no later than Monday, March 1, 2021. Subject to change at seller direction. Property may be sold prior to bid date without notice or announcement. EXPECTATIONS Purchasers are to inspect the property at their own expense. Escrow deposits in addition to closing costs, buyer’s premium shall be the purchaser’s responsibility. This transaction shall be non-contingent on financing. Close the transaction on or before Saturday, July 31, 2021. BROKER PARTICIPATION A duly qualified broker may be paid up to 3 % commission based on the purchase amount at bid award with proper registration subject procuring cause rights. TERMS OF REAL ESTATE The successful Purchaser(s) shall sign and return a real estate sales contract immediately after closing of bids or fully accepted offer, transfer by wire or certified funds, immediately after acceptance of offer. A 10% Buyer’s Premium will be calculated the bid price on Real Estate then payable to Myers Jackson – Licensed Broker, Auctioneer (LINKS LICENSE DISCLOSURES) immediately after confirmation and acceptance of offer. * All calculations are per contract. Option Money 1% Escrow Deposit 2% CERTIFICATIONS Purchaser(s) proof of payment will be certified by the Purchaser at closing. Certified funds will be required to bid in the amount of $6,000.00 plus any balance of required earnest deposits and buyer’s premium to be tendered on the day of execution of contract with bank letter of guarantee submitted. TITLE Seller will warrant transfer of title. Purchaser(s) may purchase title insurance at purchaser’s expense at the time of closing. Subject to exceptions, and Specific General Terms and Conditions. OPTIONS The Buyer may or may not propose an option period to purchase this property. Option money shall be paid at direction of the Seller. Extended option periods may increase the actual amount of option money paid. No option money is paid if option period is not requested. ESCROW DEPOSIT Money will be held at CAPITAL TITLE OF TEXAS, 1105 GLADE RD. STE. 200, COLLEYVILLE, TX 76034, Izzy Lane at (817) 916-8930. Earnest Money will be applied toward the purchase of property Auctioneers fee or option may belong to the Auctioneer and or Seller at the time of contract certifications. Appropriation of all funds shall be reflected on the closing document. CLOSING Time is of the essence this transaction shall close on or before Saturday, July 31, 2021. The balance of monies owed shall be made with funds with delivery notification 72 hours prior to closing. APPRAISALS Purchasers may conduct an independent appraisal prior to bid award. DISCLOSURE Additional disclosures may be available up request at MyersJackson.com and Acre.bid AUTHENTICITY The information shall be deemed true and correct; however, the purchaser shall be responsible for independent verification prior to bidding at purchaser’s expense. NOTABLE OBSERVATIONS Subject Property: Compatible with the Neighborhood Energy Source: Electric Dimensions: Regular Conforming NOTABLE OBSERVATIONS (continued) Proximity: Average for Schools, Commerce, Employment USE Zoning: Agriculture/Residential, Lamar County, Petty, TX Location: Lamar County, North Texas Landscaping: Natural Upgrades: Not Applicable Physical Deficiencies: None Observed Environment Impact: No Negative Impact Known Neighborhood Boundaries: Lamar County Market Conditions: Favorable Overall Condition of the Property: Any observation shall not be meant to be any warranty of condition; no guarantee shall be made to the accuracy of the noted element. Property shall transfer by deed of record and any claims attached unless otherwise announced. Subject to Zoning, Planning, any government regulation as recorded at time of purchase. PERSONAL PROPERTY Personal property shall be considered a separate purchase and held separate from the sale of real property. REGISTRATION Each person participating in the sale or any person that wishes to attend an open house must register in advance of entry into the property all being subject to seller requirements of preferential invitation. Seller and Auctioneer will comply with all fair housing regulations; however, entry may be restricted based on the following: Registration may be subject to additional requirements. However, Broker Auctioneers may reduce, alter, amend requirements on a case by case basis. 1. Registration in writing, Myers Jackson Bidding Platform or other approved method. 2. Proper Statement of Funding and/or Proof of funds that show capabilities to purchase. 3. Agree to Conditions of Sale in advance of entering property: home or grounds. 4. Enter Factual Buyer information at https:/acre.bid HOW TO REGISTER AND BID ON-LINE 1. Logon to: https://acre.bid 2. Read, accept term and conditions 3. Enter factual buyers’ information 4. Make the highest possible bid 5. Follow, check for additional bids 6. If awarded the bid, prepare to sign contract 7. Understand on-line bidding may be combined with live auctions