Sale Terms & Conditions • Bid Acceptance: Owner reserves the right to reject any and all bids. The acceptance of the highest bid is only binding on the seller once the seller signs the Purchase Agreement. • Bidder pre-approval: All prospective buyers must register for the auction sale and be pre-approved to bid by visiting www.ApartmentsOn8th.com. As part of the approval process, buyers must submit a formal bank letter to commercialinfo@goldmark.com confirming they have access to a minimum of $150,000 in liquid cash available for a potential down payment and that they are pre-qualified for financing sufficient to complete the purchase if they are the successful high bidder. This sale is intended for qualified buyers capable of completing a substantial acquisition. Only those demonstrating the financial ability to close on a transaction of this magnitude will be approved to participate in the bidding process. • Due Diligence: Buyers must sign a Non Disclosure Agreement to receive due diligence related materials. The NDA can be found at https://forms.gle/SAPHijM5n2TSDwKWA. • Purchase Agreement: At the conclusion of the online bidding, the successful bidder will sign a North Dakota Real Estate Purchase Agreement for the property’s full purchase price (Price/unit X 30 units = final purchase price). This agreement is included in the due diligence materials referenced above. • Title Insurance Commitment: The owners have a partial abstract dating back to 1964. In lieu of a complete abstract, the Owners have elected to provide the successful Buyer a title insurance commitment with coverage up to the property's purchase price at Owner's expense. In addition, a recent title opinion from The Title Company in Fargo, ND is available for buyer's inspection within the due diligence materials. • Contingencies: The sale is not contingent upon the buyer's ability to obtain financing or a buyer's due diligence period. Buyers shall have protection from unknown environmental or title defects should any be discovered prior to closing. • Earnest Money: The successful bidder will be required to provide an earnest money deposit in the amount of 5% of the final purchase price on the day the auction closes and is NON-REFUNDABLE. Funds will be held in the trust account of The Title Company in Fargo, ND. • Closing: The balance of the purchase amount will be due by cashier’s check or wire transfer at closing, with closing take place on or before 2/28/2025. Owner has already provided a marketable title and a title insurance commitment. Closing fees will be split equally between Owner and Buyer, with possession to the property granted at closing. • Taxes: 2025 taxes will be pro-rated by Buyer and Seller, with Buyer responsible for the day of Closing. • Forfeiture: Should the high bidder fail to perform by the closing date due to any reason other than failure by the Owner, all earnest money deposits will be forfeited to the Owner. • Conditions: Property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the Property is made by the Owner or the Broker unless agreed to in writing by Owner. All information contained in the sale brochure and any related materials are subject to the terms and conditions outlined in the Purchase Agreement. Each potential bidder is responsible for conducting his or her own due diligence, investigations, and inquiries concerning the Property. The information contained in the brochure is subject to verification by all parties relying on it. No liability for the accuracy of the brochure or any errors or omissions in due diligence materials is assumed by the Owner or the Broker. • Reserve: This is a reserve auction that requires seller confirmation. The auction has a suggested opening bid, but the seller has an unpublished reserve price. After the auction, the seller will accept, reject, or counter the highest bid based on whether it meets the Seller's reserve. • Announcements: Announcements made prior to or at the time of the sale will take precedence over any previously printed material, or any other oral statements made. • Agency Disclosure: Goldmark Commercial Real Estate, Inc. is acting as an Agent of the Owner. • This sale is directed by Auctioneer Andrew J. Westby, ND Auctioneers license #1056, Goldmark Commercial Real Estate, Inc.