PLEASE READ AND REVIEW THESE REAL ESTATE ONLINE AUCTION BIDDING TERMS AND CONDITIONS OF SALE THOROUGHLY PRIOR TO BIDDING ON THE PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THESE, DO NOT BID. 1. AGREEMENT: This agreement outlines the sale of Real Property at public auction on behalf of the Owner or Representative hereafter called Seller, Alaska Premier Auctions and Appraisals LLC hereafter called Auctioneers, and the individuals executing this Terms & Conditions Contract, hereafter called Buyer for the property located under US Suvey 7099. This real estate transaction will be facilitated in partnership with RE/MAX Dynamic Properties hereafter called Listing Brokerage. 2. TERMS OF AUCTION: Address: Seward Meridian, Township 12S, Range 66W, Section 35, US Survey #7099 Auction Closing Date: Saturday, October 17th, 11am AKDT Method of Bidding: Timed Online-Only Auction. All bids are accepted automatically in real-time until the auction begins closing on Saturday, October 17th at 11am AKDT. If there are any bids placed in the final 3 minutes of a lot closing, that lot is auto-extended 3 minutes to give other bidders a chance to respond competitively until the lot is sold. If you are unable to bid in real-time while the auction is closing, PLEASE make sure to leave your max bids ahead of time to avoid missing out. Purchase & Sale Agreement: Immediately after the sale, winning bidder must complete Purchase & Sale Agreement in-person or via DocuSign with verified identity. Down Payment: A 10% Non-Refundable Down Payment is due immediately made payable to Alaska Premier Auctions & Appraisals LLC. A 1% Earnest Money Deposit is due payable to RE/MAX Dynamic Properties. Deadline is 48 hours after auction closing. Final Payment: Final Payment is made payable to Bureau of Indian Affairs Division of Land Titles and Records in Anchorage, AK due no later than Friday, November 26th at 6pm AKDT. Payment Methods: Earnest Money Deposit, Non-Refundable Deposit, and Final Payment must be certified checks or cashier’s checks drawn on a financial institution located in the State of Alaska. Closing & Recording: Deeds will be transferred via warranty deed with title insurance paid by buyer and seller. This sale is subject to the regulations set forth by Bristol Bay Native Association Inc. and the Bureau of Indian Affairs; see Terms & Conditions. Please allow 45-60 days for closing. The properties are sold “as-is, where-is”. Buyers are encouraged to do their own due diligence, including physical inspection before bidding in the auction. Alaska Premier Auctions & Appraisals assumes no liability for properties sold. Online Registration Instructions: Visit the auction at: https://bid.alaskapremierauctions.com/ui/auctions/70074 Click on the 3 lines in the top right corner and select Sign In. Sign in with your existing account or create an account at the "No Account? Sign Up Here" link with your contact information. Register for the auction by clicking one of the purple "Register to Bid" buttons on one of the lots. Please review the Terms & Conditions in full before bidding in our auctions and conduct your own due diligence. There will be a soft charge and void of $100 on the credit card added to your account. NO CREDIT CARD PAYMENTS WILL BE ACCEPTED FOR PAYMENT. Once you have completed your registration, you will be automatically approved to bid. Questions about the auction process? Call Listing Licensee & Auction Manager Abigail McLagan at 907.308.0282 to learn more about the auction process or with any specific questions about this property. We are accepting cash-only for this sale and no offers will be accepted prior to auction closing. The property is sold "as-is, where-is" and it's the buyer's responsibility to verify all information, view the parcel for sale, and perform any and all inspections at least 48 hours before auction closing. The winning bidder will be required to submit a Non-Refundable Deposit of 10% of the Total Purchase Price AND 1% Earnest Money within 48 hours of auction closing. The remaining balance of the Total Purchase Price is due by Friday, November 26th at 6pm AKDT. The Non-Refundable Deposit will be credited towards the total purchase price of the property at closing. If the transaction fails to close and record due to any fault of the Buyer, known or unknown, the Non-Refundable Deposit will be awarded to the Auctioneers. If interested in purchasing the property, please convey your interest using one of the following two methods: Register and bid online through our bidding platform By proxy bid through a written offer with a real estate agent (in addition to bidding on our platform) To register for this auction, you may register download our free mobile bidding app for iOS and Android devices, visit our bidding platform directly at Bid.AlaskaPremierAuctions.com or online on our website at AlaskaPremierAuctions.com. To have your registration approved, you must participate in a quick phone interview with one of our Auction Managers to determine your availability of funds, plus your intent to bid in the auction and purchase the property. We will be taking in-person registrations on location on the day of the auction from 10am AKTD to 1pm AKDT at the same time as the property preview. In person registration on the day-of is on a first come, first serve basis. REGISTRATION CLOSES AT 11AM AKDT SATURDAY, OCTOBER 17TH, 2021. You are encouraged to review the Purchase & Sale Agreement prior to bidding. You may wish to consult with a licensed real estate broker, attorney or contractor prior to making any bid. For real estate salespersons to receive Selling Office commission, please evidence your buyer's intent with a signed offer including 1% Earnest Money, Proof of Funds, etc. addressed to Abigail McLagan: Abigail@AlaskaPremierAuctions.com Thank you for your interest in our 160 Acre Native Allotment Land on Togiak River, AK - Online Auction! Best of luck on your bids! 3. REGISTRATION: a. You must be at least 21 years old have a valid credit card on file with our company to register for and participate in our auction. The first time you save a new card to your account, there is a $100 soft hold to confirm there are funds available. This hold will automatically fall off 2-3 business days. b. To register for this auction Buyer must accept online or sign a physical copy of these Terms & Conditions. c. Bidder registration is approved automatically after a valid credit card is registered on file. d. Auctioneers reserve the right to deny service to anyone for any reason. e. All registration information the Buyer provides shall be current, complete, and accurate. f. All bidders are responsible for any bids placed under their bidder accounts and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify Auctioneers company if they believe that their bidder account and password have been compromised. g. Online registration will take place until Saturday, October 10th at 11am AKDT. h. Any Licensee wishing to be compensated in relation to this sale MUST submit a formal offer in writing to the Listing Licensee on behalf of their client with 1% Earnest Money, Proof of Funds, etc. Deadline for offers to substantiate Licensee involvement is 24 hours before the live portion of the auction. Deadline is Friday, October 9th at 11pm AKDT. i. No offers will be entertained from Buyers who have not signed these Terms & Conditions. j. Press Release: Each in-person attendee of the auction authorizes and consents to the recording of such attendee's participation and appearance on video tape, audio tape, film, photograph or any other medium and the exhibition or distribution of such recording without restrictions or limitation for any promotional purpose which the Auctioneers and those acting pursuant to its authority, deem appropriate. Buyer hereby releases and discharges Auctioneers, its officers, employees and agents, from any and all claims and demands arising out of or in connection with the use of such photographs, film or tape, including but not limited to any claims for defamation or invasion of privacy. 4. TOTAL PURCHASE PRICE: a. The Hammer Price is the numerical value of the final bid placed and accepted by Auctioneers. b. A 10% Buyer’s Premium in relation to the Hammer Price will be charged to the Buyer above and beyond the Hammer Price. c. The Total Purchase Price is to be determined by the highest and best bid plus the 10% Buyer’s Premium. 5. PURCHASE TERMS: a. Immediately after the sale of each parcel, winning bidder must complete Purchase & Sale Agreement with Alaska Premier Auctions & Appraisals staff in-person or via DocuSign. b. Closing & Recording: Deeds will be transferred via warranty deed with title insurance paid by buyer and seller. This sale is subject to the regulations set forth by Bristol Bay Native Association Inc. and the Bureau of Indian Affairs; see Terms & Conditions. Please allow 45-60 days for closing. c. The properties are sold “as-is, where-is”. Buyers are encouraged to do their own due diligence, including physical inspection before bidding in the auction. Alaska Premier Auctions & Appraisals assumes no liability for properties sold. 6. PAYMENT: a. The currency for the auction is $USD. b. A 10% Non-Refundable Down Payment is due immediately made payable Alaska Premier Auctions and Appraisals LLC, 1310 W. International Airport Road, Anchorage AK 99518. The deadline for non-refundable down payment is 48 hours after auction closing. c. A 1% Earnest Money Deposit is due immediately made payable to RE/MAX Dynamic Properties, 3350 Midtown Pl, Anchorage, AK 99503. The deadline for earnest money deposit is 48 hours after auction closing. d. The Final Payment is to be determined by the Hammer Price less 10% Non-Refundable Down Payment, Earnest Money, plus any applicable lender-related fees, escrow fees, or other applicable closing costs. Final Payment is made payable to Bureau of Indian Affairs Division of Land Titles and Records in Anchorage, AK due no later than Friday, November 26th at 6pm AKDT. e. Payment Methods: Earnest Money Deposit, Non-Refundable Deposit, and Final Payment must be certified checks or cashier’s checks drawn on a financial institution located in the State of Alaska. f. There is no sales tax in the Municipality of Anchorage. If the Buyer’s Brokerage is based in the Matanuska-Susitna Valley Borough, or any other borough located within Alaska that has sales tax, the purchase may be subject to Sales Tax. Additionally the purchase may be subject to Sales Tax in the Buyer’s state or country of residence. All Sales Tax is the sole responsibility of the Buyer. 7. CLOSING COSTS: a. To be paid by Seller: Owner Title Insurance b. To be paid by Buyer: ALTA Title Insurance, Tax Registration, Brokerage Fee (by way of Buyer’s Premium) c. To be split evenly by Seller and Buyer: Recording Fee, Escrow Closing Fee, Attorney Doc Prep Fee, and any other fees. d. Buyer must come prepared to pay the prorated value of the Property Taxes based on the date the transaction closes and records. 8. CLOSING & RECORDING: a. Sale of Real Property in Alaska is closed in Escrow with a Title Company. Final accounting of all monies and transfer of the Deed will be handled by the Title Company. b. Final Payment is to be made to the specified Title Company no later than the date in Section 6, Item C. c. The transaction is complete with Recording and transfer of the Deed. d. Possession will be granted only after Closing & Recording. NO EXCEPTIONS. 9. INSPECTION: a. All interested bidders are strongly encouraged to conduct their own due diligence, including physical inspections of each parcel of interest before bidding in the sale. b. Buyer shall have the right, at Buyer’s expense, to have a licensed contractor(s) or other qualified professional(s) to further inspect and investigate the subject property at a mutually agreeable time, or by appointment, up to 48 hours before the auction. c. Any inspection(s) or contractor estimates must be submitted to the Auctioneers. d. Buyer may not withdraw a bid because of any discovery during or in relation to an inspection(s). The Buyer must be prepared before placing a bid. e. In the course of your inspections, if the property is damaged by the Buyer or their chosen contractors, Buyer will be liable for all costs of repair and any related damage. f. Alaska Premier Auctions and Appraisals LLC assumes no liability for properties sold at the sale. 10. APPRAISAL: a. Buyer may choose to have an appraisal done at their own expense at any mutually agreeable time, or by appointment time up to 48 hours before midnight on the day of the auction. b. If the Buyer procures an Appraisal, it must be submitted to the Auctioneers. c. Buyer may not withdraw a bid because of any discovery in relation to an appraisal. The Buyer must be prepared before placing a bid. 11. BUYER RESPONSIBILITIES: a. It is the Buyer's sole responsibility to verify all property information and inspect the property as they see fit. It is the Buyer's responsibility to perform any inspections they deem pertinent to the purchase of the property to their satisfaction prior to bidding, including but not limited to review of posted inspections, disclosures, and/or a personal on-site inspection. You are recommended to independently verify all information you deem important. The property is scheduled to have one or more open houses, and/or private showings upon request. Alaska Premier Auctions and Appraisals LLC assumes no liability for errors or omissions in these disclosures or any other property listings or advertising, promotional or publicity statements and materials. b. Buyer agrees to execute and deliver all documentation and submit funds in an efficient and timely manner. c. Buyer agrees to not withdraw any bid or offer, including offers in writing with a Purchase and Sale Agreement. Buyer agrees they will not retract or lower their offer in any way. A bid on the property constitutes a legally binding agreement to purchase the property for the value of the bid plus 10% Buyer's Premium, plus all applicable closing costs. d. Buyer agrees to not make false or misleading claims or statements regarding their availability of funds, or their ability or interest to purchase the property. e. Buyer agrees to ensure their availability of funds before placing a bid. f. Buyer agrees to comply with all applicable laws regarding the sale of real property in Alaska. g. Collusion between bidders is prohibited by the Federal Anti-Trust Laws. If Auctioneers perceive attempted collusion, they may cancel the auction, ban the bidders, or seek other remedy they deem fit. 12. BUYER DEFAULT: a. In the event the Buyer is the winning bidder, and fails to submit deposits or complete documentation in a timely manner, the Auctioneers may terminate this agreement and ban you from future participation. Time is of the essence. b. In the event the Buyer is unable to complete the transaction after submitting 10% Non-Refundable Down Payment and 1% Earnest Money, such as inability to secure funding, etc, the Buyer will forfeit the entire Non-Refundable Deposit to Alaska Premier Auctions and Appraisals LLC, and potentially forfeits the entire 1% Earnest Money Deposit. c. Buyer agrees to not withdraw any bid or offer, including offers in writing with a Purchase and Sale Agreement. By participating in our auction Buyer agrees they will not retract or lower their offer in any way. d. BIDDING ON THE PROPERTY IS A LEGALLY ENFORCEABLE COMMITMENT BY THE BUYER TO PURCHASE THE PROPERTY. e. If Buyer is found to be in violation of any of these terms herein in any way, the Auctioneers reserve the right to terminate the agreement and ban the Buyer from future participation. f. In the event of Buyer default, Auctioneers reserve the right to sell to the next highest qualified Buyer. g. In any event of Buyer Default, the Buyer will be blocked and banned from future participation in any auctions. 13. DOCUMENTS & DISCLOSURES: a. Buyer must be prepared to execute all documents outlined below immediately following the conclusion of the auction. These documents can be downloaded from our website AlaskaPremierAuctions.com or through Alaska MLS. Deadline for completion is 24 hours after the auction closes. Purchase and Sale Agreement Conflict of Interest 13. BIDDING ONLINE: a. All bidding is open to the public. The property is available to purchasers without regard to race, color, religion, sex, familial status, national origin, or physical handicap. b. Bidder registration must be manually approved by the Auctioneers. Approval will be on a case by case basis determined by Buyer’s availability of funds and genuine intent to purchase the property. The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, Auctioneers reserve the right to reject the registration and bidding activity is subject to termination. Auctioneers reserve the right to refuse service to any bidder or reject any bid for any reason. c. Auctioneers reserve the right to ban Buyer from bidding at any time, for any reason. d. Any person bidding on behalf of another person or entity must have a valid, legally enforceable, unexpired, Power of Attorney approved by Auctioneers before being approved to place bids. e. The auction will be open online for bidding until the date of the auction with bid increments as outlined below. At the scheduled time for the live portion of the auction, the Auctioneer will take over the bid calling and may adjust the bidding increments at their discretion. f. Company Defined Online Bidding Increments: $1 - $99,999: $20,000 $100,000 - $149,999: $20,000 $250,000 - $349,999: $25,000 $350,000 - $499,999: $50,000 $500,000+: $75,000 g. Bid increments are subject to change anytime at auctioneer's discretion. h. During this auction process, there is a chance that you will be outbid. If you have the bidding app, you will receive a popup notification, otherwise, you will receive an email. It is the responsibility of the Buyer to realize and maintain their desired bidding position. i. Online bidding is provided as a courtesy and the quality of internet connection, the stability of the software, or other online capabilities cannot be guaranteed. Please place a Maximum Bid to ensure your bid is received in a timely manner before auction closing. j. Placing a Maximum Bid will place a bid for the next bid increment and will automatically bid for the Buyer up to the value of their Maximum Bid unless there is a reserve as outlined in below. k. When a user places a Maximum Bid it will be placed at the reserve price if said Maximum Bid exceeds the reserve. If the Maximum Bid amount is below the reserve the bid will be placed for the full amount. l. The MaxBid function on the online bidding platform is private to users; however, it can be seen by the Auctioneers. 14. LEGAL & TAX ADVICE: a. Alaska Premier Auctions and Appraisals will not provide any legal or tax advice. Any and all disclosures to third parties are the sole responsibility of the Buyer. 15. CONDITIONS OF SALE: a. All property is sold “AS IS”, and ALL SALES ARE FINAL. Any condition statement given, as a courtesy to a client, is only an opinion and should not be treated as a statement of fact. Buyers are always encouraged to inspect items in person prior to bidding to make their own determinations as to condition, safety, and more. Alaska Premier Auctions and Appraisals LLC accepts no responsibility for any error or omission in regards to their statements or the statements of independent contractors. b. ALL INTERESTED BIDDERS ARE STRONGLY ENCOURAGED TO CONDUCT THEIR OWN DUE DILLIGENCE, INCLUDING PHYSICAL INSPECTIONS OF EACH PARCEL OF INTEREST BEFORE BIDDING AT THE SALE. ALASKA PREMIER AUCTIONS AND APPRAISALS LLC AND KENAI PENINSULA BOROUGH ASSUME NO LIABILITY FOR PROPERTIES SOLD AT THE SALE. It is the Buyer’s sole responsibility to determine condition, safety, value or any other determining factor. Alaska Premier Auctions and Appraisals LLC may attempt to describe the property in advertising, on the Internet, and at the auction but makes no representations. In no event shall Alaska Premier Auctions and Appraisals LLC be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Buyer shall be the sole judge of value and authenticity and may not make any contest regarding any determining factor. Buyers who participate from off-site and forego the opportunity to be present at the preview understand and acknowledge that this affects their ability to inspect the property as well as if they examined it in person. Alaska Premier Auctions and Appraisals LLC will not be responsible for any errors or omissions in the description unless it is a material and intentional misrepresentation of the property. Buyer agrees that everything is sold as-is. THERE ARE NO REFUNDS. c. This sale is subject to the regulations set forth by Bristol Bay Native Association Inc. and the Bureau of Indian Affairs outlined partially as follows: D. NEGOTIATED SALES INFORMATIONAL SHEET FOR NATIVE LANDOWNERS OF RESTRICTED PROPERTY With the approval of the Secretary or his authorized delegate, a landowner of a restricted Native allotment or townsite lot can sell all or a portion of their land. The landowner must have a Certificate of Allotment or a Native Restricted Trustee Deed before they can sell their land. The sale of any restricted Native land must be approved by the Bureau of Indian Affairs (BIA) in order to be valid and must be at or above the appraised fair market value. BIA or Tribal Realty staff will prepare all documents for the negotiated sale process. Since most of the fieldwork required for this transaction is accomplished during the summer months, early notice is appreciated. During the winter months, the land is usually not accessible for field visits. For land that has two or more landowners, all co-owners must make an Application for Sale. Counseling will be provided to all co-owners. The landowner must express his/her desire to sell their land in writing to the BIA or Tribal Realty Office having jurisdiction over the land. A Realty Specialist will be assigned to your negotiated sale transaction. Be sure to read all the documents carefully and ask questions about any part of the sale process that you might not understand. The following is an outline of the steps involved in the sale process: 1. Initial Contact & Counseling: The landowner is counseled and apprised of the negotiated sale process and other options available such as - leasing, gift deeding, mortgages, etc. An offer to purchase will be requested from the interested purchaser stating the terms of the proposed purchase. 2. Application: After the offer to purchase is received from the interested purchaser, an Application for Sale will be provided to the landowner to be completed and returned. 3. Offer to Purchase Real Property: An Offer to Purchase Real Property form may be required if special circumstances warrant. Otherwise, the informal offer to purchase letter is sufficient. 4. Land Status: A Title Status Report will be requested from the BIA Alaska Title Services Center that will show all land transactions affecting ownership and acreage. 5. Survey: If an adequate description is not possible, a survey is necessary and required. The survey is to be conducted by a registered land surveyor. If a survey is necessary, it is the responsibility of the landowner to procure the services of the registered land surveyor. This in itself is another transaction that must be completed before any sale can proceed. 6. Appraisal: An appraisal of the land being sold is necessary to ensure that the landowner is receiving the appraised fair market value for the land. The Department of the Interior, Office of Special Trustee (OST), Appraisal Services,have appraisers that will conduct the appraisal at no cost to the landowner. However, landowners may, at their own expense, have a private appraisal done. The private appraisal report will be subject to review and approval by the OST Appraisal staff and must be prepared in accordance with their guidelines. The private appraiser must contact or meet with the OST Appraisal staff prior to conducting and preparing the appraisal report. 7. Archeological Inventory: The allotment or townsite lot must be inventoried for potential cultural or historical remains. Like the appraisal, BIA Archeology staff will conduct the inventory at no cost to the landowner. At the landowner's expense the services of a private archeologist can be obtained. The private archeological report will be subject to review and approval by the BIA Archeology staff and must be prepared according to their guidelines. 8. Timber Clearance: If the land is valuable for timber, a timber clearance and/or timber report may be necessary. The realty specialist assigned to the case, can determine the necessity based on their knowledge of the land area and from discussions with the landowner. If a timber clearance is necessary, BIA or Tribal Forestry staff will be responsible for conducting the fieldwork. 9. Environmental Compliance: This is required to determine the impact, if any, the proposed sale will have on the environment or wetlands. The Realty Specialist assigned to your case will assess the sale and will determine the type of environmental document required and who will be required to prepare the environmental document. 10. Re-counsel/Finalize Documents: After the archeological inventory and appraisal has been received, the landowner is re-contacted for another phase of counseling and signing of documents. 11. Report of lnvestigation: After all the previous requirements have been met, a report of investigation will be prepared to report the findings and recommendation to the BIA Alaska Regional Director. 12. Approval/Disapproval: After all the necessary paperwork is completed, the sales package is submitted for approval/disapproval to the Alaska Regional Office in Anchorage. If disapproved, the landowner and purchaser will be notified of the action taken. If approved, the approved deed or the sales contract (Memorandum of Agreement) will be forwarded to the BIA Alaska Title Services Center for recording before being returned to the Alaska Region, Real Estate Services. For Negotiated Cash Sales: 13. After receipt of the approved deed, the deed is then recorded in the appropriate State Recording office before delivery to the purchaser. For Negotiated Deferred Payment Sales: 14. Payment Schedule: After receipt of the approved package, a payment schedule file is prepared to keep a record of payments made on the purchase of the land. The sales contract (Memorandum of Agreement) is recorded in the appropriate State Recorders Office. The Deed is held in Escrow at the Alaska Region, Real Estate Services. Notices for payments will be sent to the purchaser, as well as, a monthly and/or annual schedule of payments made. All payments are sent to the Service provider and to be forwarded to the BIA Alaska Regional Office of Special Trustee for deposit into the landowner's account. The landowner can then withdraw all or portion of the monies using an JIM Application. 15. Final Deed: After payment in full is received, the Deed is sent to the BIA Alaska Regional Office for final approval by the Regional Director and then forwarded to the BIA Alaska Title Services Center for recording. After recording by the BIA, the document( s) are returned to the Alaska Region, Real Estate Services to be recorded in the appropriate State Recording Office. Bristol Bay Native Association Land Management Services P.O. Box 310 Dillingham, AK 99 5 7 6 (907) 842-5257 or Toll Free at 1-800-478-5257 Fax: 907-842-5939 16. WARRANTIES: a. The Buyer warrants that they have the purchasing power and legal right to bid on the property and complete the sale. b. The Buyer warrants that they are committing to purchase the property by placing a bid. In the event the Buyer is unable to complete the purchase for any reason, known or unknown, the Non-Refundable Deposit will be forfeit and awarded to the Auctioneers. By bidding at the auction, you represent, warrant and agree that you have inspected the property to your satisfaction and that you have made your bid after having relied solely upon your own independent investigation and/or analysis of third parties’ inspection, appraisal and evaluation of the property and the facts and circumstances related thereto. c. Alaska Premier Auctions and Appraisals LLC is providing Internet auction bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Alaska Premier Auctions and Appraisals LLC or anyone else if the Internet service fails to work correctly before or during the timed online auction. Alaska Premier Auctions and Appraisals LLC will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bids are acknowledged should use the website feature and leave their maximum bid 24 hours before the auction ends. 17. WITHDRAWAL: a. Alaska Premier Auctions and Appraisals LLC reserves the right to postpone, withdraw, or cancel this auction at any time, for any reason. b. In the event a Buyer must retract their bid, they must pay to the Auctioneers the difference in value between the Buyer’s bid and the next highest bidder’s bid. NO EXCEPTIONS. 18. TERMINATION: a. If the transaction fails to close and record due to any fault of the Buyer, known or unknown, they will forfeit the entire Non-Refundable Deposit and may lose their Earnest Money depending on circumstances. b. If the transaction fails to close and record due to any fault of the Seller or Auctioneers, known or unknown, the Buyer will receive their Non-Refundable Deposit and Earnest Money Deposit in full. 19. GOVERNING LAW & VENUE: a. This agreement is governed by and construed in compliance with the domestic laws of the State of Alaska without giving effect to any choice-of-law or conflict-of-law provision or rule (whether of the State of Alaska or of any other jurisdiction) that would cause the application of the laws of any jurisdiction except the State of Alaska. All disputes related to this agreement shall be resolved in a court of law located in Anchorage, Alaska. 20. INDEMNIFY: a. Buyer agrees to indemnify and save harmless the Auctioneers and their employees, agents, successors, or assigns, against any and all claims, injury, loss, liabilities, damages, demands, action or cause of action whatsoever in any manner arising from this auction or privately negotiated sale; before, during, or after the auction. 21. BINDING: a. Parties agree that this agreement shall be binding upon the undersigned and their respective heirs, administrators, executors, powers of attorney, trustees, agents, receivers, successors, and assigns, etc. If there is more than one party described as Buyer herein, the obligations imposed by this agreement shall be joint, and several. If any term of this agreement is determined by a court to be unenforceable, the remainder of this agreement shall not be affected. The terms & conditions of this agreement shall survive settlement or lack thereof. 22. ACKNOWLEDGEMENT & ACCEPTANCE: a. This written agreement constitutes the entire agreement between the parties and no modification of this agreement shall be effective unless made in writing and signed by both Buyer and Auctioneers. Buyer has read the foregoing agreement, agrees to, and understands the responsibilities, obligations, and conditions thereof. Buyer acknowledges receipt of a copy of this agreement and attached schedules, if any. YOUR SIGNATURE WHETHER ELECTRONIC OR HAND-WRITTEN CONSTITUTES ACKNOWLEDGEMENT AND ACCEPTANCE OF ALL TERMS HEREIN. Thank you for your interest in our 160 Acre Native Allotment Land on Togiak River, AK - Online Auction! Best of luck on your bids!!