TERMS & CONDITIONS 207 Bridle Trail, Pueblo, CO 81005 Thank you for attending today's auction! All bidders must register acknowledging they have read and agree to the "Terms and Conditions" of the sale as outlined prior to bidding. Announcements: All announcements made the day of auction take precedence over any and all previously written advertisements or any prior written or verbal terms of sale. Auctioneer/Seller reserves the right to withdraw property from auction at any time. Agency: 345 Auction, auctioneers, firm, broker and all parties employed by or associated with, will be acting solely as a representative of the Seller. Auctioneer Rights: All decisions of the Auctioneer are final. The Auctioneer reserves the right to reject any bid or bidder and has the right to accept back-up contracts the day of sale. In case of a tie or disputed bid, the Auctioneer reserves the right to re-open the bidding to determine the highest bid and settle the disputed bid. This is at the sole discretion of the Auctioneer. Earnest Money Deposit: A deposit equal to 10% of the Total Purchase Price, or the Minimum Required Deposit of $5,000.00, whichever is greater, is required immediately after the auction. Bidders must present $5,000. 00 in the form of cash, certified or cashier's check in order to bid. If the Purchase Price is more than $50,000.00, then the balance of the Earnest Money Deposit may be paid by cash, personal, business or cashier's check. No credit cards will be accepted. The remaining balance of the Total Purchase Price is due within 30 days from the date of the offer's commencement date. Deposit funds are non-refundable. If paying with a certified or cashier check, the check(s) should be made payable to yourself, and in the event you are the Winning Bidder, you will endorse it to: LAND TITLE GUARANTEE COMPANY Purchase Price: A 10% Buyer's Premium will be added to the high bid at the auction and become the Total Purchase Price. The 10% Buyer's Premium must be paid at the settlement by the high bidder in addition to all other applicable fees and charges described herein and in the Auction Purchase and Sale Agreement. Buyer Registration: This Auction will be held on-site at the property. All bidders must register (at the designated area) by providing appropriate government ID and receive a bidder number. By registering and accepting a number, all bidders agree to abide by all of the Terms of Sale. Broker Registration: Brokers/Agents must register their client by 12:00pm the business day before the auction via the Broker Registration Form. A two percent (2%) commission of the high bid price will be paid to any properly registered broker whose client purchases real estate at the auction and closes in full. It is the responsibility of any agent representing a client to have completed and returned the Broker Registration Form by the published deadline. No registration forms will be accepted at auction. Bidding Process: The property may be offered in one or more lots. No bid may be withdrawn by a bidder once made to the Auctioneer. All bids are an irrevocable offer to buy and shall remain valid and enforceable to until the Auctioneer declares the property "Sold" and the auction has concluded. The Auctioneer reserves the right, but has no obligation, to bid on behalf of the Seller up to the undisclosed reserve price, unless the property is declared "Absolute" or the "Reserve has been met." The bidder's number is nontransferable. All Sales are Final: By registering and bidding, the buyer acknowledges they understand and agree to the Terms of Sale. The Buyer acknowledges they have read the Auction Purchase and Sale Agreement and the Terms and Conditions of the Auction Sale provided by Auctioneer and accept the Auction Purchase and Sale Agreement without any changes to the pre-printed text. The buyer must sign all contract documents immediately after the auction. Representation: Although information has been obtained from sources deemed reliable, the Auctioneers, 345 Auction, its representatives, employees, firm, broker, their attorney's nor the Seller make any guarantee or warranty of any kind expressed or implied as to the accuracy of the information herein contained. Real Property: The real property, offered for sale at the Auction is being sold "AS IS, WHERE IS, WITH ALL FAULTS AND DEFECTS" without warranty or guarantee of any kind, except as expressly provided for in the Auction Purchase and Sale Agreement and Terms and Conditions of the Auction Sale. Each potential Buyer is encouraged to perform his/her own independent inspections, inquiries and due diligence concerning the described property. The information is being furnished to bidders for the bidder's convenience and it is the responsibility of the bidder to determine that information contained herein is accurate and complete. Any reliance on the contents shall be solely at the recipient's risk. It is the Buyer's responsibility to inspect the property prior to bidding to make their determination as to the condition or seek professional inspection (at the Buyer's expense) of the property. Buyer(s) agrees to accept property with its current zoning, easements, and any and all right-of-ways that carry with it. All information is taken from sources deemed to be accurate and reliable, all measurements are approximate and not to scale. The Seller and the Auctioneers, 345 Auction, contractors, employees, firm, or brokers assume no liability in this matter. Any and all announcements made the day of auction take precedence over any and all previously written advertisements or any prior written or verbal terms of sale but shall in no event form the basis of any representation or warranty by Seller or Auctioneers. By bidding on the property, you are accepting all terms and conditions stated herein. Financing: The purchase is not contingent on obtaining financing or qualification. Buyer Default: In the event a high bid is accepted and the Buyer fails to close or comply with the terms of the Auction Purchase and Sale Agreement, then the earnest money will be forfeited as liquidated damages, but such forfeiture shall not affect any other remedies available to Seller for such failure. Indemnity: The Buyer assumes full responsibility and liability for any claim or actions based on or arising out of injuries, death, damage, loss of property, sustained or alleged to have been sustained by Buyer, its agent, principals, associates, friends, family and/or employees, in connection with or to have arisen out of or incidental to the auction including but not limited to the performance of this contract. Regardless of whether such claims or actions are founded whole or in part upon alleged negligence or negligent misrepresentation of Seller, Auctioneer, or the employees, agents, invitees, or licensees thereof, Buyer agrees to indemnify and hold harmless Seller, Auctioneer, and their representatives, and the employees, agents, invitees and licensees thereof in respect of any such matters and agrees to defend any claim or suit or action brought against Seller, Auctioneer, and their representatives, and the employees, agents, invitees and licensees thereof. Environmental Disclaimer: The Seller and 345 Auction, agents, contractors and employees do not warrant or covenant with Buyer(s) with respect to the existence or nonexistence of any pollutants, contaminants, mold, or hazardous waste prohibited by federal, state or local law or claims based thereon arising out of the actual or threatened discharge, release, disposal, seepage, migration or escape of such substances at, from or into the demised premises. Buyer is to rely upon their own environmental audit or examination of the premises. Acreage and Square Feet: All acreages and square feet descriptions are approximate. If there is a discrepancy between 345 Auction or its representative and the actual acreage and/or square feet as determined by a surveyor or appraiser, the price will not be adjusted. The statements, while not guaranteed, are from reliable sources. Any costs incurred in establishing boundaries shall be the responsibility of the buyer(s). Each sale is subject to easements, rights-of-way, reservation and/or restrictions of record. Closing: TIME IS OF THE ESSENCE. The balance of the purchase price will be due in 30 days from the Commencement Date, which is the date of mutual execution of the Contract of Purchase and Sale by the Seller and Buyer. The Seller at closing will convey the real estate with a Special Warranty Deed. Buyer is responsible for all customary closing costs associated with closing to include but not limited to all transfer and recordation closing fees, financing expenses, title fees, title insurance, survey, easement and appraisal. Taxes will be prorated from date of closing.