NC Real Estate Terms: 1. Agency: Iron Horse Auction Company, Inc. are acting as agents of the Foreclosure Trustee and at no time acting on behalf of the Buyer. 2. 10 Day Upset Bid Period in effect at end of the auction. Upset bids require a 5% raise of bid and a 5% deposit. Upset bids must be registered in person at the Wayne County Clerk of Court, 224 E Walnut St #230, Goldsboro, NC 27530 3. Property Information & Inspection: Property inspection at buyer leisure and liability. Do not disturb crops or tenants. Iron Horse Auction Company, Inc. is not responsible for any missing or incorrect listing information. Iron Horse Auction Company, Inc. has attempted to provide accurate descriptions. However, it is the bidders responsibility to conduct any inspections to determine the condition and feasibility of the bidder’s intended use. Descriptions that are provided by Iron Horse Auction Company, Inc. are provided in good faith and are responsible matters of opinion. It is automatically acknowledged by registering that you have either personally inspected the property, hire an agent to inspect the property or wave your right to inspect the property. By placing a bid, this creates a legal obligation to purchase the property at the high bid price plus any additional fees included in closing the real property transaction. 4. Trustee’s Discretion: The Trustee has full discretion to modify the date and time, order, and details of the auction for any reason included in the Notice of Sale or Foreclosure Statute, including but not limited to emergencies, and convenience of the Trustee. 5. Payment Terms: A deposit of Five Percent (5%) of the final bid will be required for the buyer of each parcel on the sale day and this deposit shall be made payable to the Wayne County Clerk of Court to be held by the courts. If a deposit if forfeited, the deposit shall be administered under applicable law as determined by Wayne County Clerk of Court. Closing will be as specified by the Trustee. This auction is a Cash Transaction not contingent on or subject to financing, appraisal, survey or inspections of any kind, as agreed to by Bidder and or Buyers at registration prior to bidding and specified in the Auction Terms and Conditions on the event page of each specific auction. 6. Auction Administrative Fee In the event a winning bidder fails to make the deposit as provided in the Notice of Sale, the property may be resold, and the bidder will be charged an Administrative Fee by the Auctioneer. Additional default remedies are reserved by Iron Horse Auction Company and the Trustee as provided in the Auction Terms and Conditions and Notice of Sale of Real Property and ALL Administrative Fees are nonrefundable. 7. Closing: Unless the Trustee agrees otherwise, property is to be closed within 30 days after the auction upset bidding ends or upon delivery of the Trustees deed, whichever is sooner. 8. Closing Costs: Buyers closing cost can include new boundary survey, title search fees, title insurance premiums, recording fee of documents, Ad Valorem taxes and any other fees required for closing. Seller’s closing cost is limited to revenue stamps and the cost of deed preparation. 9. Property Condition: All property in this auction is selling AS IS, WHERE IS with all Faults, if any. The Trustee or Iron Horse Auction Company, Inc. makes no representations or warranties, expressed or implied, concerning the property. Descriptions of the property are believed to be correct, but are not guaranteed. It is the Buyer’s responsibility to conduct any inspections prior to the auction. All due diligence periods end the date the auction is schedule to end. Crop allotments, mineral rights, timbers rights, water rights, if any will transfer with the deed. It is possible that the property being sold is subject to restrictive covenants and homeowner’s association rules, regulations and dues, if any. Iron Horse Auction Company, Inc. has attempted to find or locate all information deemed material facts. Ultimately, it is the Buyer’s responsibility to inspect all aspects of the property before placing a bid. No sale shall be invalidated by the Buyer as a result of the HE/SHE not conducting their own inspection prior to placing a bid. It is automatically acknowledged by placing a bid that you have either personally inspected the property, hire an agent to inspect the property or waive your right to inspect the property. 10. Legal Interpretations: This document shall be interpreted by the laws of the State of North Carolina. 11. Disputes: Any and all causes of action resulting from this auction shall be heard in the General Court of Justice of Wayne County, North Carolina as the sole and exclusive venue. 12. Title/Deed: Title will be delivered by Trustees Deed without warranty. 13. Possession: Not given until Closing. 14. Crop Leases:  Buyers must allow for crops to be removed by current tenants. Wayne County annual crop leases expire December 1. 15. Real Estate Taxes and Closing Cost: The sale is subject to taxes and assessments. The purchaser will pay all other closing costs associated with the purchaser’s side of the sale, including local and state recording fees, excepting the excise stamp tax to be paid by the Trustee/Seller. 16. Easements: Subject to any and all easements recorded or unrecorded. 17. Zoning: This property is subject to all state and local zoning ordinances. 18. Acreage & Aerial Photos: Parcel dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines. 19. Age Requirement: All bidders must be eighteen (18) years of age or older.