1. Live/Online Auction Process - The live/online (simulcast) auction begins Wednesday, November 16th starting at 12:00 PM (cst). Online users can register immediatly with a current HiBid account or they may sign up by following the log in/registration process provided by the HiBid site to become a new user. Pre-bidding for online users begins on Saturday, November 12th at 12PM (cst). Pre-bidding is equivalent to Ebay style bidding in the effect that maximum bids are hidden and will only be "pushed up" by other bidders. Maximum bidding follows the bidding schedule of $100 per bid, automatically bidding for you to your max amount. If two bidders enter the same max bid, the bidder to enter that bid first is the leading bidder. On Wednesday, November 16th at 12PM (cst) online bidding will be in conjuction with live on-site bidding at Moberly Area Community College (MACC) Activity Center, 101 College Ave, Moberly, MO. Live bidding terms will be announced to the attendees immediately before the live auction starts. 2. No Buyers Premium - 0% (zero percent) 3. Contract Terms - This property is being sold as-is, where-is with no contingencies on financing, appraisal, inspection, or any other means by which the buyer may dispute the conditions of the sale. Potential bidders should be diligent in seeking financing or inspections ahead of the auction date. Real Estate sells with owners confirmation. 4. 10% Down - The auction contract calls for 10% of the total sale price to be put down for earnest money. Down payment can be a personal or business check or wire transfer. Earnest money checks must be made out to the title company whom is handling the title work of the transaction. 5. Successful Bidder - When the entire auction closes with a successful and winning online bidder, contact will be made by the agent(s) of the auction/real estate company to inform of further instruction for payment and contract execution. Money down must be made out to the title company outlined in the contract. The successful bidder must return a signed and dated contract with the money down to the auction/real estate company within 48 hours of auction close. 6. Closing and Possession - A closing date is included in the contract. Closing to be handled by the title company outlined in the real estate contract. To close, buyer will need to pay the balance left after down payment and any other fees with certified funds. Possession will not be given until closing. 7. Title - The sellers agree to convey to the buyers title to the described real property in fee simple absolute by general warranty deed containing the customary warranties, free and clear of all deeds of trust, interest, leases, liens, and encumbrances whatsoever, except for easements of record and zoning ordinances, if any.

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