11 Parcel Land Auction NH & MA 22PM-01 GENERAL TERMS & CONDITIONS AGENT OF THE SELLER: Paul McInnis LLC is acting solely as an Agent of the Seller. BIDDER REGISTRATION: In order to bid online, any prospective bidder must first request a property information package. The next step is to create an online bidding account (refer to the Due Diligence Checklist contained in the property information package) and submit your registration form with the required deposit to the Auctioneer. At the time of registration, you will be required to provide your credit card information. If you are the successful bidder and you fail to comply with the terms of the auction (specifically signing the real estate Purchase & Sale Agreement and delivering the required earnest money deposit, both by Tuesday, February 22nd, at 3:00 p.m., you hereby authorize the auction company to charge your credit card a NON-REFUNDABLE, NON-COMPLIANCE FEE in the amount of $5,000.00 U.S. dollars per parcel. NOTE: If you prefer to pay by check, you may deliver the $5,000 registration deposit to our office. All terms relating to the registration deposit apply whether the deposit is in the form of a hold on your credit card, or in the form of a check. Once the online bidding registration form has been completed, and Paul McInnis LLC has determined that you have met all the requirements, a bidding number will be provided to you. Please note that Paul McInnis LLC will make our best effort to respond to your request within three hours during normal business hours of Monday through Friday from 8:30 a.m. to 4:30 p.m. EST ONLINE PRE-BIDDING: The pre-bidding will open on Monday, February 7th at 8:00 a.m. and the pre-bidding will end on Saturday, February 19 at 9:00 a.m. LIVE WEBCAST AUCTION: Saturday, February 19th at 10:00 a.m. the Live Virtual Auction will begin. It is important to follow the instructions of the auctioneer to follow along during the auction. The auctioneer will start the auction with Lot Number 1 through Lot Number 11 posting the high bids and marking the bids as pending. Then proceed with the combination Lots 12 through 15. All bids on all 15 Lots will remain open and additional rounds of bidding at the direction of the auctioneer will occur until the auctioneer either declares a lot sold, passed, or closed. All bids are subject to Seller’s right to accept or reject any or all bids. The Auctioneer in his sole and absolute discretion reserves the right to cancel, postpone, extend, or reschedule the auction. DUE DILIGENCE: It is the bidder’s responsibility to undertake their own due diligence and inspection of the property prior to placing any bids. A complete review of the property information package (with additional links) including the real estate Purchase & Sale Agreement Sample with your attorney is encouraged. PROPERTY CONDITIONS: Except as expressly set forth in the real estate Purchase & Sale Agreement, if and when executed, the property is being sold "AS IS," "WHERE IS," and "WITH ALL FAULTS," as of the closing date. Neither the Seller, Paul McInnis LLC nor any of their agents, contractors, attorneys, officers, or directors ("agents") makes any representations or warranties with respect to the physical condition of the land or any improvements thereon, the property’s fitness for any particular purpose, the property’s merchantability, or any other warranty, express or implied. The Seller, Paul McInnis LLC and their agents specifically disclaim any warranty, guaranty, or representation, oral or written, past or present, express, or implied concerning the land and any improvements thereon. Bidders are expected to undertake their own independent physical inspection of the property, and public records, and thorough review of all documents prior to submitting their bid(s) and to submit their bid(s) based solely on their own independent investigations and findings including but not limited to bidders’ own independent investigation of the uses, code compliance and land use regulatory approvals necessary for redevelopment and not in reliance on any information provided by the Seller, Paul McInnis LLC or their agents. BUYER’S PREMIUM: A 10% (Ten Percent) Buyer’s Premium will be added to the successful Bid Price to become the Total Purchase Price. Example: $Bid Price + 10% of $Bid Price = $Total Purchase Price due from the Buyer at Closing, less any Earnest Money Deposit. SUCCESSFUL BIDDER: The successful bidder is defined as, that registered bidder who placed the highest bid as declared by the Auctioneer and the highest bid being acceptable to the Seller. The successful bidder will be notified via email, as well as by telephone confirmation by the Auctioneer. REAL ESTATE PURCHASE & SALE AGREEMENT: A copy of the agreement is included in the property information package. PLEASE REVIEW it carefully or have your attorney review it. The successful bidder is required to sign the real estate Purchase & Sale Agreement together with all exhibits, addendums and Seller disclosure forms without any changes or additional terms and deliver 10% of the total purchase price as the earnest money deposit no later than Tuesday, February 22nd, at 3:00 p.m. Only the Buyer’s Name, Bid Price, 10% Buyer’s Premium, Total Purchase Price, Earnest Money Deposit, and the Balance Due Amount will be entered into the real estate Purchase & Sale Agreement. EARNEST MONEY DEPOSIT: The Successful Bidder will be required to tender an EARNEST MONEY DEPOSIT equal to Ten Percent (10%) of the Total Purchase Price, and sign the Purchase and Sale Agreement no later than Tuesday, February 22nd, at 3:00 p.m. The deposit must be by cash, wire transfer or check payable to Paul McInnis LLC Escrow Account in U.S. funds. Should the successful bidder fail to execute the Purchase and Sale Agreement and tender the EARNEST MONEY DEPOSIT, the Bidder agrees to forfeit the Registration Deposit which shall become a NON-REFUNDABLE, NON-COMPLIANCE FEE. SUCCESSFUL BIDDER DEFAULT: Should the successful bidder fail to execute the real estate Purchase & Sale Agreement and deliver the earnest money deposit in a timely manner as outlined in these general terms & conditions, said bidder will be deemed to be in default and said bidder’s deposit will be forfeited and become NON-REFUNDABLE. RESERVATION OF RIGHTS: All bids are subject to confirmation of the Seller. Seller reserves the right to accept or reject the high bid on any individual parcel or combination of parcels. The Seller has the sole and absolute discretion to negotiate with any other bidder should the highest accepted bidder default. ADDITIONAL TERMS: Additional terms are included in the real estate Purchase & Sale Agreement. Any changes or amendments to these general terms & conditions and/or to the real estate Purchase & Sale Agreement will be communicated to any registered bidder via the email said bidder provided at registration. BUYER BROKER PARTICIPATION INVITED: Please contact the auction company (admin@paulmcinnis.com) to request the MANDATORY REAL ESTATE BUYER BROKER PARTICIPATION REGISTRATION form prior to a prospect having contacted Paul McInnis LLC. The completed and signed form must be faxed or mailed such that it is received by the office of Paul McInnis LLC at the same time as the online bidding registration request form. If you have any questions, please contact Paul McInnis LLC at (603) 964-1301 or via email at: justin@paulmcinnis.com