REAL ESTATE TERMS AND CONDITIONS FOR ONLINE BIDDING ON KERN ROAD, WATERFORD, OHIO PARCELS 1) Bidders are responsible for familiarizing themselves with these terms and conditions. The terms of the contract are NON-Negotiable. 2) PRIOR TO BIDDING: All bidders intending to participate in the auction must register online by creating a bidder profile, submit Bidder Approval Packet and Register to Bid. a.) You must create an account through the HiBid.com platform. You can go directly to HiBid.com to create your account. If you need assistance you can view instructions at HeritageRealtyAndAuctions.com, navigate to the “Current Auctions” tab, and click on “How to Create a HiBid account. b.) Once your bidder profile is created, you will receive a buyer approval packet via an e-signature platform. This packet will include the terms and conditions, a sample contract, the surveyors map, the surveyors parcel description, and proof of funds requirements. Bidders are required to initial and return this packet along with proof of funds before bidding privileges are activated. Once you have been approved you will receive notification of your approval, and you are ready to register to bid. c.) To register to bid visit HeritageRealtyAndAuctions.com, navigate to the “Current Auctions” tab and find the auction you wish to bid on. Click Register to Bid and follow the prompts. You can view the “How to Register and Bid” tutorial at HeritageRealtyAndAuctions.com d.) For assistance on any of these steps, please contact Audrey Augenstein at Heritage Realty & Auction Solutions at 740-525-0101. 3) This is an ONLINE ONLY auction. Bidding will commence closing on December 16, 2024, at 6:00 PM EST. Registration may take up to 48 hours, so please ensure you register at least two days prior to the auction's conclusion. A 5-minute soft close will be implemented; if a bid is placed within the last two minutes, the bidding time will extend an additional five minutes, allowing other bidders the opportunity to respond. IF BIDDING ON MULTIPLE PARCELS - THIS WILL NOT DELAY BIDDING END TIME OF REMAINING LOTS SO BE SURE TO BID ACCORDINGLY. 4) By registering for this auction and placing a bid, the bidder acknowledges that these terms and conditions have been disclosed and agrees to be bound by them. If you do not agree, please refrain from bidding. 5) PROOF OF FUNDS: Bidders must provide proof of funds to participate, regardless of whether they are financing or purchasing with cash. This proof must demonstrate sufficient funds to cover the deposit, property price, and buyer's premium. Acceptable forms of proof include bank statements, brokerage accounts, lines of credit, or unconditional loan approvals. This auction is not subject to a buyer obtaining funds, and failure to close by the contract date will result in the forfeiture of the deposit. Proof of funds must be submitted with the property approval packet before any bids are accepted. Only approved bidders will be permitted to bid, and bids will be limited to the amount stated in the submitted approval. The auctioneer, auction company, or seller may request additional registration information for clarity or if they are unfamiliar with the lending institution or bidder. 6) DEPOSIT: A payment is required within 24 hours of the auction's conclusion via wire transfer or certified funds made out to Heritage Realty & Auction Solutions Trust Account. The deposit will be held in the auction company’s trust account and credited to the buyer upon closing. If the buyer fails to close, the deposit is non-refundable and will be released to the seller and Heritage Realty & Auction Solutions. a.) Parcel 5A: $10,000 Deposit b.) Parcels 2C, 3D, 4E: $5,000 Deposit each The remaining balance is due at closing, no later than January 17, 2025, of the sale's end. The balance is payable in cash, regardless of financing. Possession will be granted at closing. 7) BUYER'S PREMIUM: This auction includes a buyer's premium: a.) Parcel 5A: A 5% buyer's premium will be added to the final accepted bid, establishing the total contract purchase price that the buyer is obligated to pay. b.) Parcels 2C, 3D, 4E: A 3% buyer's premium will be added to the final accepted bid, establishing the total contract purchase price that the buyer is obligated to pay, 8) Should Parcels 2E and 3D be sold to different buyers, the current right of way on the left side of Parcel 2E will be extended to provide access to Parcel 3D. This extension will be noted in the final purchase contract. 9) CONTRACT FOR SALE: The winning bidder must sign and return the final sales contract within 24 hours of the auction's conclusion. The sales contract will not be contingent upon financing or other conditions. The contract will be sent for e-signature immediately following the auction's close, or arrangements can be made for in-person signing. The seller will sign the sales contract within 24 hours of the sale's conclusion. 10) Buyers agree to cooperate in the event that any documents are omitted or additional items require initials or signatures. 11) The property is sold AS IS, WHERE IS, with no warranties expressed or implied. There are no guarantees regarding land use adequacy, water supply, or fencing. Properties are sold subject to all surface and subsurface easements, rights of way, zoning, and restrictions of record, and free and clear of all liens. 12) Buyers must have all financial arrangements in place prior to bidding and are responsible for conducting their own research, inspections, and appraisals before the auction closes. While the information provided is deemed reliable, neither the auctioneer nor the seller guarantees its accuracy. Prospective bidders are strongly encouraged to inspect the property thoroughly and rely on their own judgment and inspections of property records. Bidders should ensure they are satisfied with the description and condition of the property prior to bidding. It is the buyer's responsibility to complete any desired inspections at their own expense before the auction. The buyer must also pay for and obtain any due diligence inspections and inquiries related to their intended development plans before bidding. By placing a bid, the bidder affirms that they have examined the items to their satisfaction or have chosen not to inspect them personally. No representations have been made by the seller or the seller's agent regarding the fitness of the real property or improvements for any specific use or development plans. 13) Bidders should note that this is an online-only auction. Instructions for bidding can be found at HeritageRealtyAndAuctions.com. 14) All parcels are subject to a farm lease effective until December 31, 2024. 15) The seller will transfer any owned oil, gas, and mineral rights. 16) TITLE: The seller will provide a marketable title at their expense, subject to restrictions of record. 17) The seller will pay the county conveyance fee and ensure that taxes are current through the closing date, based on the most recent available tax rate and valuation. New taxes for the parcels will be determined, and taxes will be prorated according to local methods. 18) The buyer is responsible for all fees associated with financing, inspections, or representation. 19) The costs for the closing/escrow agent will be shared equally between the buyer and seller. 20) All property dimensions are approximate. 21) AGENCY: Heritage Realty & Auction Solutions and its auctioneers and agents represent the sellers in this transaction. The bidder acknowledges that no agency relationship is created between the bidder and the auctioneer or affiliated parties through participation in this auction. 22) Broker participation is welcomed. Buyer brokers must register their clients at least 48 hours prior to the auction. A Broker Participation form must accompany the approval packet to register your buyer. Failure to do so will void the broker participation. 23) The auctioneer, seller, and/or the seller's attorney reserve the right to request satisfactory written evidence of an agent's authority to place bids or execute purchase contracts on behalf of another party. 24) Announcements made on the day of the sale take precedence over all previous advertising and statements. 25) All bids are subject to acceptance by the auctioneer. A bid will not be considered valid until accepted by the auctioneer, and all bids are pending until duly accepted. The auctioneer has the sole discretion to advance the bidding and may reject any bids that do not advance the auction or are injurious to the auction including, but not limited to, nominal or suspicious offers. The auctioneer reserves the right to cancel or reopen the auction in the event of system failures. 26) The auctioneer, staff, and seller reserve the right to bid or participate in the auction if they have a bona fide intent to purchase. 27) The auctioneer retains sole discretion in determining the successful bidder in the event of a bidding dispute. The auctioneer's decision on the successful bidder is final. 28) As the successful bidder, you agree to pay your bid amount, along with all applicable taxes and premiums, in accordance with all written or oral auction terms and conditions. 29) Online bidding may be subject to technological faults and issues beyond the auction company's control. Bidders are encouraged to utilize the “Maximum Bid” feature on the bidding platform to secure their highest bid amount in case of technological failure during the auction. The seller and/or auction company reserve the right to pause online bidding in the event of internal or external technology failures to maintain the auction's integrity and ensure a fair bidding environment. Bidders acknowledge that online bidding may not function correctly on auction day. Under no circumstances shall bidders hold Heritage Realty & Auctions or any associated parties liable for internet service failures before or during the auction. In the event of technical difficulties, the auctioneer reserves the right to reopen bidding and/or reschedule the auction's end. 30) Neither the software provider nor the auction company will be liable for missed bids or software malfunctions for any reason. 31) The conduct of the auction and bidding increments are determined at the auctioneer's discretion. All auctioneer decisions are final. 32) By placing a bid, you agree to all Terms and Conditions outlined by each individual Auction Company. You expressly acknowledge and affirm that you have read and are familiar with the terms and conditions of each auction company involved, as well as these overarching terms. 33) In the event of a conflict between these terms and conditions and those in a signed contract, the terms in the signed contract shall prevail. 34) All sales are final upon the auctioneer's determination of the successful bidder. 35) By placing a bid, you acknowledge that your bid constitutes a legally binding offer to purchase the item or property being auctioned. 36) Time is of the essence in all transactions. 37) The successful purchaser agrees to pay all reasonable attorney fees and costs incurred by the auction company, the seller, and/or their representatives in the commencement or defense of any actions related to this agreement, as well as in the collection of any obligations. 38) There are no returns or exchanges. All property is sold "AS IS." It is the bidder's responsibility to ascertain the nature, condition, and state of title of each item purchased. 39) VENUE AND JURISDICTION: Any disputes arising from the auction sale shall be resolved in the Court of Common Pleas in Washington County, Ohio. 40) Auctioneers, the auction company, employees, and representatives may bid on behalf of the seller when the property is sold with a reserve. 41) By participating in this auction, I consent to receive correspondence, including emails and texts, from Heritage Realty and Auction Solutions regarding upcoming auctions. 42) Sellers, Heritage Realty & Auction Solutions, nor its agents are liable for any accidents that may occur. 43) CHOICE OF LAW: The laws of the State of Ohio shall govern the interpretation of any disputes or matters relating to the subject sale. 44) Disclaimer of Warranties: There are no understandings, agreements, representations, or warranties, expressed or implied, not specified herein, regarding the contract or the item or property sold, including, but not limited to, merchantability or fitness for a particular purpose. 45) Bidders must be 18 years of age or older. 46) Auctioneer Audrey Augenstein / Heritage Realty & Auction Solutions is bonded in favor of the State of Ohio. 47) IF BIDDING ON MULTIPLE PARCELS - If bid is received on a lot in the last 2 minutes bidding will extend by 5 minutes - THIS WILL NOT DELAY BIDDING OF REMAINING LOTS.