TERMS OF SALE FOR MAY 28, 2020 MULTIPLE PROPERTY AUCTION AUCTION FORMAT. All bidding is open and public. To bid during the auction, you will need to pre-register by downloading our “Chartwell Auctions” App and following the instructions for the auction you are interested in. You will be required to agree to the Terms of Sale in order to bid. ATTORNEY REVIEW RECOMMENDED. All information contained in this brochure and all other auction-related material, such as the Packet, should be carefully reviewed by an attorney prior to the auction and is subject to and may be superseded by (1) the Real Estate Purchase Agreement to be signed within 2 hours of being declared the winning bidder, as well as by (2) announcements made from the podium prior to the commencement of bidding. AUCTION REGISTRATION. All parties seeking to bid on the property in the auction must pre-register on the Chartwell Auctions App and agree to abide by the Terms of Sale. All bidders will be required to sign a statement (“Bidder’s Statement”) prior to commencement of bidding that the bidder has reviewed the property information and sale documents. All parties must pre-register by 3:00 PM on Wednesday, May 27, 2020. No registrations will be accepted after this time. A credit card will be required to verify your identity. $100 will be charged to the card and immediately refunded as part of the identification process. REQUIREMENTS OF THE HIGH BIDDER. The Winning Bidder on the respective parcels will be required to deposit 10% of the total purchase price by wire transfer or delivery, no later than 5:00 PM EST on the first business day after Winning Bidder is notified by Broker or Auctioneer, to the offices of: Guardian Title and Guaranty Agency, Inc., as Escrow Agent (“Escrow Agent”) located at 7550 Lucerne Drive Suite 310, Middleburg Heights, OH 44130, Attn.: Gayle Jonas, telephone: 216-898-4933. (Call for wire transfer instructions if needed). If the 10% Earnest Money deposit is not timely received, Seller or Auctioneer may declare the Winning Bidder to be in default. AUCTION PROCEDURE. Each Parcel is Offered as follows: 1. 4761 SR 193, Kingsville, OH: With Reserve, Published Reserve Price of $160,000. 2. 11400 Kinsman, Newbury OH: With Reserve. Bidding to Commence at $95,000. 3. 3778 MLK Dr., Cleveland, OH: Absolute, Without Reserve. *ALL PROPERTIES ARE OFFERED ON AN “AS-IS, WHERE-IS” BASIS WITH ALL FAULTS AND WITH NO REPRESENTATIONS OR WARRANTIES BY SELLER. The final high bid will be accepted at the time and place of the auction in the event the high bid is equal to or greater than the Published Reserve Price. The Auctioneer reserves the right to ask for an opening bid below the Published Reserve Prices. In the event the bidding level does not reach the Published Reserve Price, the high bid offer will be considered With Reserve, Subject to Seller Acceptance. The final high bid must be irrevocable until 4:00 P.M., Eastern Time, five business days after the actual date of auction. CLOSING DATES. All sales shall close on or before 12:00 Noon on June 30, 2020, at the Offices of the Title Company at which time Purchaser shall pay the balance of the Purchase Price. Time is of the essence. BUYER’S PREMIUM. Each sale at auction will provide that the Purchaser pay to the Seller as part of the total purchase price a 10% premium. The buyer’s premium will be added to the high bid or offer price in the Real Estate Purchase Agreement to determine the Total Purchase Price. Financing, if any, is calculated on the Total Purchase Price. FINANCING. These sales at auction are not offered subject to Purchasers obtaining financing. CONDUCT OF THE AUCTION. Neither Seller, nor Auctioneer is permitted to bid at the auction. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. Announcements made from the podium supersede printed material. Auction is open to registered bidders and invited guests. In the event of a dispute between bidders, the Auctioneer shall make the final decision to accept the final bid, to re-offer and re-sell the property, or to remove the property from the auction. If any disputes should arise following the auction, the Auctioneer’s records shall be conclusive. AGENCY DISCLOSURE. Hanna Commercial, Chartwell Auctions, LLC (DBA Chartwell Real Estate Auctions), Michael Berland, OH Auctioneer, (“Brokers/Auctioneer(s)”) and all parties associated with Brokers /Auctioneers, represent the Sellers in this sale. BROKER PARTICIPATION. A referral fee equal to 2.00% of the High Bid Price will be paid by the seller from the seller’s proceeds of sale to the Real Estate Broker acting as a buyer broker, who’s Client pays for and closes on the property. To qualify for the referral fee, the real estate agent must: (a) be a licensed real estate broker who will abide by the Association of Realtors Code of Ethics; (b) register the Client by fax: 216-861-4672, attn.: Mike Berland, on company letterhead, and confirm the buyer-broker arrangement (Registration) with the Broker, Auctioneer prior to May 21, 2020, (c) inspect the property or attend an Off-Site Due-Diligence Seminar with their prospect; and (d) attend the auction and bid with or for the Client. All Registrations accepted will be acknowledged by Auctioneer. No Broker will be recognized on a Client who has previously contacted or been contacted by the Seller, their representatives or Auctioneer. Referral fees will be paid upon closing by Seller and receipt of all commissions by Auctioneer. No referral fees will be paid by the Seller, if the broker, the broker’s agents, or a member of the broker’s immediate family is participating in the purchase of the property. An affidavit will be required certifying that the broker is not participating in any way as a principal. No sub-agency shall be offered to any broker by Auctioneer. There can be no exceptions to this procedure and no oral Registrations will be accepted. Brokers are hereby notified that the Seller has provided a dual commission arrangement for the sale of the property. DISCLAIMER: The information contained herein is subject to inspection and verification by all parties relying on it. This sale is being conducted subject to the Terms of Sale and the Real Estate Purchase Agreement. No liability for its inaccuracy, errors or omissions is assumed by the seller or broker/auctioneer. ALL ACREAGE, SQUARE FOOTAGE, AND DIMENSIONS ARE APPROXIMATE. This offering may be withdrawn, modified, or canceled without notice at any time. Property is subject to prior sale. This is not a solicitation or offering to residents of any state or jurisdiction where prohibited by law.