REAL ESTATE AUCTION TERMS 418 Spring Branch Dr. - Monticello, AR 71655 Summary of Real Estate Auction Terms: Property sells with clear title, "as is", by legal description, with no contingencies for financing or repairs. 10% buyer premium. $2000 down as earnest money on day of auction, balance due at closing in 30 - 45 days. Final bid subject to Sellers approval within 48 hrs. Seller to provide Warranty Deed and title insurance. Announcements made auction day take precedence over any previous oral or printed announcements. Terms: Property sells "as is" with no other warranties from Seller other than good title. Inspections should be conducted before the auction. If you bid, you are agreeing that you are satisfied with the Property in its current condition at the price you bid. Buyer Premium: A 10% buyer premium will be added to the final bid price to determine the contract price. Ex: $60,000 bid price + (10%) $6000 = $66,000 contract price At the conclusion of the auction the high bidder will immediately sign a purchase agreement for their bid plus the 10% buyer premium. Down Payment/Earnest Money: Along with the purchase agreement, Bidder will submit $2000 in the form of cash, cashier's check or good personal or company check to be deposited and escrowed in Orrell Auctions & Real Estate PLLC's Trust Account. Balance of purchase price required in approximately 30 -45 days at closing. Down payment will be credited to buyer at closing. If you cannot close you will forfeit your down payment. Financing: Property sells with no contingencies for financing, and no financing is offered by the seller. Financing should be secured before bidding. If you cannot pay the balance at closing, you will lose your down payment/earnest money. "Subject to Sellers Approval" - Seller will have 48 hrs. to accept or reject the high bid. When accepted and signed by the seller, this agreement becomes the purchase contract. Title: Seller will guarantee good title at closing by providing Owner's Title Insurance and a Warranty Deed free of all liens and encumbrances but subject to any easements of record. Closing will be in approximately 30 - 45 days from auction. Seller pays 1/2 closing fee, 1/2 Revenue Stamps, Owner's Policy of Title Insurance, deed preparation. Buyer pays 1/2 closing fee, 1/2 Revenue Stamps, deed recording fee and any other expenses generated by Buyer, including, but not limited to, Loan Policy of Title Insurance, hazard insurance premiums, survey, Buyer's attorney fees, and any other fees associated with Buyer's loan, if any. Property taxes will be prorated as of the date of closing. Orrell Auctions & Real Estaste PLLC - 870-723-9116

REAL ESTATE AUCTION 418 Spring Branch Dr. - Monticello Live, On Site Bidding July 24th at 11am 3 bed 1.5 bath, 1 car carport 1320 sq ft heated/cooled (units replaced in 2012) Nice back yard w scenic stone retaining wall Needs a little work (original roof - 1983) Good for starter home or rental property Inspect this property today-Get prepared to bid! Don't let this opportunity get away! Viewing: by appointment - call Jimmy 870-723-9116 or view the property at 10am, 1 hour before live bidding starts at 11am on July 24th Terms: Property sells as is with no contingencies for financing or repairs. 10% buyer premium added to high bid to determine contract price. $2000 down day of auction as earnest money with balance due at closing in 30 -45 days. (See complete terms on back) See pictures and details at www.orrellauctions.com Orrell Auctions & Real Estate PLLC Jimmy Orrell, Broker/Auctioneer 870-723-9116 AALB#1947