**** PLEASE READ TERMS AND CONDITIONS FOR THE SALE **** **** IF INTERESTED YOU HAVE TO READ THEM, THEY WILL GIVE YOU INFO ON PURCHASING THE PROPERTY AND THE PROCEDURES YOU WILL HAVE TO FOLLOW ***** The following Terms and Conditions ("the Real Estate Terms") form an integral part of the terms of the Bidder's Registration Agreement (the Bidder's Terms). The Real Estate Terms apply to all the real property sales and apply only to real property sales. Where the Real Estate Terms are applicable, the Real Estate Terms shall prevail to the extent of any conflict with the Bidder Terms. 1. AGREEMENT OF PURCHASE AND SALE: Upon Seller approval: The Purchaser shall execute a Purchase Contract in the form provided by the Brokerage immediately after being declared the high bidder. The owner of the consigned property has TWO hours to either accept or decline the current highest bid. 2. CASH SALE: This is a cash sale and is not contingent on the Purchaser's ability to obtain financing. An unconditional PROOF OF DEPOSIT AVAILABLE letter will be required from your financial institution 48 hours prior to the Auction start date. 3. LAWYER: Completion and closing of all real estate transactions will be handled by a qualified lawyers appointed by the Seller and the Purchaser. All purchase monies (except the Deposit) in respect of the Property shall be paid to the Seller's Lawyer. 4. DEPOSIT: Immediately after being declared the high bidder, the Purchaser shall submit a non-refundable deposit to the Brokerage in the amount of 5% of the Purchase Price (the "Deposit"). The balance of the Purchase Price shall be paid at or before closing. 5. CLOSING: Closing shall take place on OCT 1st, 2024, or such other date as may be mutually agreed by the parties. The Purchaser and Seller shall each be responsible for their own legal fees. The Purchaser shall pay Land Title Registration fees at or before closing. The Purchaser is required to obtain Title Insurance to facilitate closing on time. 6. NON-PERFORMANCE: Any failure by the Purchaser to complete the purchase of the Property will result in the Deposit and any further interest in the Property being forfeited. The Seller may take further legal action for the Purchaser's non-performance. 7. POSSESSION: Purchaser will receive vacant possession on the date of closing. 8. BUYERS PREMIUM: The Purchaser agrees to pay a buyer's premium of 3% of the Purchase Price plus GST. (not to exceed $1000.00) to PATTERSON'S AUCTIONEERING SERVICES LTD 9. AS-IS SALE: The Purchaser shall accept the Property and all chattels, if applicable, "AS-IS," "WHERE-IS," AND "WITH ALL FAULTS" as per Schedule "C" attached hereto. 10. NO MINES OR MINERALS: Mines and minerals are not included and shall not be conveyed with the Property unless otherwise expressly provided. Any and all surface leases shall be assigned to the Buyer upon completion, and any payment the Seller has received shall be prorated and adjusted as of the completion date. 11. PERSONAL PROPERTY: No personal property shall be conveyed with the Property unless specifically included in the purchase agreement. 12. AGENT OF THE SELLER: The Brokerage (and any appointed real estate agent, where applicable) is acting as an agent of the Seller only and not as an agent of the Purchaser or as a dual agent. The Purchaser will be required to sign an Agency Agreement acknowledging that they are aware they are not receiving any representation upon registration. 13. NO ASSIGNMENT: The Purchaser shall not assign their bid or obligation to purchase the Property to a third party without the prior written approval of the Brokerage. 14. FOREIGN OWNERSHIP RESTRICTIONS: The Property may be subject to foreign ownership restrictions. The Purchaser acknowledges that it is Purchaser's sole responsibility to make any necessary inquiries, including, without limitation, consulting with legal advisors before bidding on the Property to ensure they are legally eligible to purchase the Property. 15. TECHNOLOGICAL ERRORS: Patterson's Auctioneering Services and/or All Peace Realty Ltd. are not responsible for technological errors of the online auction platform carrier. 16. WINNING BIDS: All winning bids are conditional to the SELLER'S APPROVAL. The owner of the consigned property has TWO hours to either accept or decline the current highest bid.