BONNIGSON & ASSOCIATES 1570 W McPherson Hwy. Clyde, OH 43410 ONLINE BIDDING TERMS AND CONDITIONS Residential Property Seneca County Parcel part of #M44000704400000 Township of Seneca, Seneca County, Ohio ONLINE AUCTION STARTS TO END: Tuesday – August 2, 2022 @ 6:07 PM Seller: Virgil P. Falter AUCTION LOCATION: Virtual Online Auction, BONNIGSON & ASSOCIATES, welcomes you to bid YOUR price on the real estate offered at this Auction. BIDDING PROCEDURES TO KEEP IN MIND: All bidding is open and public. The Auctioneer's decision is final in the event of a dispute over any Auction matter. The Auctioneer reserves the right to accept bids in any increments he/she feels are in the best interest of his clients and reserves the right to waive any previously printed or announced requirements. Bidding will remain open until the closing of the auction. Bidding will be a lump sum dollar amount. The Auctioneer reserves the right to bid on behalf of any buyer. Dynamic Closing: The closing time of an item is automatically extended additional minutes whenever a bid is placed within the last 3 minutes of the closing time. Therefore, it is important to monitor the closing time and regularly refresh your browser. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, be sure you have arranged financing, if needed, OR capable of paying cash at closing. Minimum bid increments are at the discretion of the Auctioneer. We anticipate that the top bid at the close of the auction will be accepted. The final bid, however, is subject to the Owner’s acceptance or rejection. TERMS OF THE AUCTION OUTLINED: A Three Percent (3%) Buyer’s premium fee will be added to the final bid to establish the final Sale Contract Price. It is clearly understood by the Buyer, that the Auctioneer represents the Seller and that this Buyer's premium in no way implies an agency relationship between the Auctioneer and Buyer. A NON-REFUNDALE down payment of $5,000 for property is required within 24 hours of the close online auction for the successful buyer. The down payment may be paid in the form of cash, personal check, business check, cashier's check or wire transfer, made payable to Bonnigson & Associates for deposit in their non-interest trust/escrow account, immediately negotiable. These funds will be returned at the successful closing of said property which shall occur within forty (45) days of the Auction, or the time specified in the terms and conditions as posted/advertised or as soon thereafter as is reasonably possible for Seller to have obtained any applicable survey work and title related documents. The balance of the purchase price is due in cash at closing, which will take place on or before September 16, 2022 or as soon thereafter as is reasonably possible for Seller to have obtained any applicable survey work and title related documents. The closing agent will be Perrysburg Title. Seller shall provide sufficient marketable title free and clear of all liens and subject to easements and restrictions of record and shall furnish a warranty deed conveying the real estate to the Purchaser. The cost of title examination and title commitment; Seller to pay any real estate transfer fee or tax; Taxes and assessments due and payable on the date of transfer; The cost of deed preparation; The amount due Purchaser by reason of proration; One-half (1/2) of the escrow/closing fee; One-half (1/2) of the cost of insuring premiums for Owner’s Fee Policy of Title Insurance. At the close of the auction, Purchaser will be required to execute an Agreement to Purchase Real Estate and Addendum. The terms of this agreement and addendum are non-negotiable. You will be closing in the way you bid at the auction. Purchaser to pay the cost of recording the deed, any mortgage and all costs and fees incidental thereto; One-half (1/2) of the escrow/closing fee; One-half (1/2) of the cost of insuring premiums for Owner’s Fee Policy of Title Insurance; Seller and Purchaser will pay any other charges paid thru escrow as described in articles 17 & 18 of the purchase agreement.   The Auction Company has posted such documents as, legal description, aerial photos, plat map, etc. It is the responsibility of each bidder to review this information prior to the start of the auction. Also, an example of the Agreement to Purchase and Addendum that will be signed at the close of the auction is posted. It will be understood that you have reviewed the entire agreement carefully prior to the start of the auction. The information contained herein is believed to be correct to the best of the auctioneer’s knowledge.  The information is being furnished for the bidder’s convenience and it is the responsibility of the bidder to determine the information contained herein Is accurate and complete.  Your bids are to be based solely upon your inspection.  All real estate is sold without physical warranty. Seller and agent are not assuming any responsibility for warranty of any specific zoning classification, location of utilities, assurance of building permits, driveway permits, or water and septic permits. This property is being "SOLD AT AUCTION" in "AS IS, WHERE IS" condition, all faults included. Further, NO inspections, or surveys, or reports have been made for wells or septics, or other environmental problems, and this sale is not conditional upon any such reports. The real estate is being sold subject to these limitations: building and Zoning laws, ordinances, state and federal regulations, regional planning, restrictions as to use or improvements of premises, any utility, roadway, railway, pipeline, wind and any other leases or easements of record, any other limitations outlined in the purchase agreement. The Real Estate Taxes will be prorated pro-rated per local method, to date of closing. The taxes are to be determined per the Seneca County Auditor, once the parcel split from the farm. There is a portion of this lot that is presently being farmed. Sellers have heretofore used property this portion for agricultural purposes and its real estate taxes have been levied and paid upon a reduced Current Agricultural Use Valuation (CAUV). Seller shall be wholly responsible for and pay any CAUV recoupment to become due by Buyer’s conversion of the property to a non-agricultural or non-qualifying use (within the definition of Current Agricultural Use Property). The Buyer will have possession of the home and buildings at closing with the exeption of the portion being farmed with a growing crop. The tenant farmer of the portion of this lot does have Tenants Rights and will be entitled to harvest the growing crop. In case a dispute arises between the Purchaser(s), Seller(s) or Auctioneer/Realtor it will go to binding arbitration to be settled. The parties involved would each select an arbitrator and then the arbitrators will select another one. Any such arbitration shall be conducted in Sandusky County, Ohio, unless otherwise mutually agreed upon by the parties BONNIGSON & ASSOCIATES and its representatives are the exclusive agent of the Seller. Buyer(s) will sign an Agency Disclosure Statement at the end of the auction.