ONLINE BIDDING AUCTION TERMS, CONDITIONS, & REQUIREMENTS TITLE & CLOSING: The seller will provide marketable title to the buyer evidenced by an Owner's policy of title insurance to be provided by Leer Title Services. The lender's policy and any endorsements will be paid by the buyer if requested. Preliminary title search information is available upon request. Any escrow closing fees charged by the closing agent will be equally divided between buyer and seller. The balance payable at closing must be in certified funds in the form of a cashier's check or wire transfer. Buyers failure to close on or before the closing date may be subject to paying seller interest payments or a daily penalty of up to $500 per day at the seller's election. Upon buyer default, the seller may also elect to engage other legal options including, but not limited to, retaining the earnest money deposit and selling the property to another party. PURCHASE AGREEMENT & EARNEST MONEY: The successful buyer will be required to enter into a written purchase agreement immediately upon the conclusion of the auction. Online buyers agree to sign all documents immediately using electronic means. All bidders onsite or online will be required to also immediately deliver a 5% non-refundable down payment. The earnest money deposit may be a check or wire transfer. The buyer must deliver a check to Leer Title Services: 1450 1st East PO Box 69 Park Rapids, MN 56470 (218. 237.7550- leer@arvig.net) or arrange for a wire transfer to Leer Title Services. Wiring instructions are available upon request. Buyers failure to meet all terms and conditions or perform and close on the real estate purchase agreement are subject to loss of their earnest deposit which will be retained by the seller and will not be refunded. The written purchase agreement, to be signed by the seller and buyer after the auction, is the sole and controlling documents of this sale and supersedes any and all other terms whether verbal, written, expressed, or implied, and shall be the sole and controlling document for this real estate transaction. Bidders must request to review the purchase agreement prior to bidding if they wish to review it. Buyers consent to the purchase agreement as written by bidding and waive any additional legal review of the purchase agreement once the auction has ended. Property to be sold "AS IS" with no warranties or guarantees implied. Information provided herein was obtained from sources deemed reliable, but Broker makes no guarantees to its accuracy. All prospective bidders are urged to fully inspect the property, its condition and rely on their own conclusions. The property is sold subject to existing easements, restrictions, covenants or reservations of record, if any. Plat maps, aerial photos, and reference materials are not intended as a survey and are for general location purposes only. SURVEY: NONE FSA PROGRAMS: N/A MINERAL RIGHTS: All mineral rights owned by the seller, if any, will be conveyed to the buyer. LEGAL DESCRIPTIONS/ ACREAGE: Legal descriptions are subject to existing fence/field boundaries or land use trades or agreements if any between adjacent landowners. All stated dimensions, sketches, and acreage figures are approximate or more or less and obtained from government tax records or FSA maps. The county tax records and FSA records may indicate different acreages and no warranty is expressed or implied as to exact acreages of property. The purchase price entered on the purchase agreement will be binding and will be for the total parcel without regard to exact acreage. Unless otherwise agreed upon in writing, there will be no adjustment in purchase price if acreage is different than what is published at the auction. BIDDING PROCESS: All ONLINE bidders must be registered and be approved to bid. Bidders are urged to register early as registration is required at least 24 hours prior to the auction beginning. Bidders must satisfy the auction company with their identity and be authorized to bid. The auction company reserves the right to require bidders to satisfy the auctioneer of their financial ability to perform on this transaction prior to bidding has occurred. All online bidders consent to phone calls, text messages or emails from the auction company and its agents. Prior to bidding, buyers may be required to provide the auction company verification of available funds to purchase the property and/or a bank loan approval letter with no contingencies. You do not have to be present to bid online but are required to be available by phone. By registering and submitting bids on this auction you hereby agree to the Terms and Conditions set forth herein. All bids, in any form, are legally binding offers for real estate. All buyers acknowledge that the Internet may be unreliable and error-prone. The sellers and auction company will not guarantee that bids placed online will always be transmitted to or received by the auctioneer in a timely fashion. Buyers hereby hold Mossy Oak Properties- Mississippi Valley and their associates, and the seller harmless for any technical failures or interruptions in online bidding due to the failure of the software to function properly for any reason or due to errors caused by the buyer s computer system or network. Bidding remotely does not guarantee anonymity. Sale is not contingent upon buyer financing or appraisal; all preliminary financial arrangements must be made prior to the auction. All bids are considered to be CASH. Bidding increments are solely at the discretion of the auctioneer. The auctioneer may accept absentee, phone, or internet bids from any qualified bidders. Being the high bidder does not form a contract until the auctioneer announces the property sold and the buyer is notified that the seller has accepted the bid. Sale is contingent upon seller confirmation; however, it is their desire to sell to the highest and best bidder. The seller reserves the right to accept or reject any and all bids. The auction company and seller reserve the right to preclude any person from bidding if there is any question as to the person s credentials or fitness to bid. AGENCY RELATIONSHIP: Mossy Oak Properties -Mississippi Valley, and its associates are representing the seller as the seller's agents. All bidders acknowledge that they are representing themselves or have hired representation using their own financial means to complete the auction sale transaction. Announcements made the day of the auction will supersede earlier announcements, verbal or written. All decisions of the Auctioneer are final. ***Property will be sold subject to seller confirmation