AUCTION TERMS & CONDITIONS Formerly Barnes & Barnes Tie - Online Only Auction Terms & Conditions All buyers must read & agree to these Terms & Conditions before placing bids. Scroll down to read all Terms AUCTIONEER'S NOTE: Due to the Covid-19 Pandemic, we will be following the current CDC guidelines during the designated load out & preview times as follows: Attendees must stay at least 6 feet away from one another at all times while on auction site. 5% Buyers Premium will apply to all purchases ATTENTION BIDDERS: This is an online only auction. All bidding is done over the internet. There is no on-site bidding available. Wooley Auctioneers Inc. strongly recommends that potential bidders inspect each item in person before placing your bids. INSPECTION PERIOD: Tuesday October 20th from 1:00pm - 5:00pm AND Wednesday October 21st from 10:00am - 5:00pm SAWMILL OFFERINGS EXPLANATION: The "North 20" Sawmill Facility will be offered as a package for one bid price including the real estate. This offering will be designated as auction lot number 301. The "South 40" Original Bandmill Sawmill be offered piecemeal (auction lot numbers 1-217) AND in BULK to include the COMPLETE SAWMILL OPERATION INCLUDING REAL ESTATE (auction lots 1-217 combined) for one bid price. The bulk offer will be designated as lot number 300 and will begin to close 30 minutes after the piecemeal bidding has concluded. The cumulative of the piecemeal bids will be compared to the final bulk bid amount, and the Bankruptcy Trustee will have the option to choose which way the property is sold. ROLLING STOCK: The rolling stock (auction lot numbers 3700-5300) is not included in the piecemeal or the bulk offering and will be sold separate & apart from sawmill offerings. Contact Auctioneer Brad Wooley with any questions about the online auction process at brad@wooleyauctioneers.com or 501-940-3979 TERMS ON REAL ESTATE Buyer's Premium: A buyer's premium of five percent (5%) will be added to the bid price to determine the final purchase price on all real estate transactions. All offers are made subject the approval of the Federal Bankruptcy Court. PAYMENT: 20% down at the conclusion of the auction with the balance due in 30 days at closing. Purchaser will receive a Trustee's Deed at closing. Purchaser will be required to pay their side of closing costs. Closing will take place at ________TBD__________ title company. Contact auctioneers if additional information is needed. Payment Terms: Wooley Auctioneers requires a credit card for bidder verification purposes only. We will never charge your credit card for real estate transactions. Wooley Auctioneers will contact the winning bidder by phone at the conclusion of the auction with detailed payment instruct Auction company will not be responsible for the removal of abandoned or unsold personal property after the designated time of removal. Auctioneers Disclosure: Auction company will not be responsible for the removal of abandoned or unsold personal property after the designated time of removal. All abandoned or unsold personal property will go with the real estate. Mineral Rights: Only the debtors interest, if any, will convey. Wooley Auctioneers, Inc. (Auction Company) is providing an Internet auction as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall bidder have any kind of claim against Auction Company or anyone else if the Internet service fails to work correctly during the online auction. Auction Company will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy bidding feature and leave their maximum bid at least 24 hours before the auction closes. Auction Company reserves the right to withdraw or re-catalog items in this auction. Buyer's Contract: Your bids placed on the Wooley Auctioneers website are a contract and you are responsible for paying all amounts due. Auction Location: Online Only Auction - No Onsite Bidding Available Additional Terms of Sale: 1. YOUR BID IS A CONTRACT TO BUY should you be the winning bidder. 2. All property is sold in "AS IS" condition with any and all faults. 3. By bidding on property, the bidder shows acceptance of the terms of the auction. 4. All announcements made prior to the close of the Internet bidding take precedence over all written or verbal statements. 5. Wooley Auctioneers attempts to describe the properties to the best of our abilities however we make no representations or guarantees. In no event shall Wooley Auctioneers, Inc. be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Nor shall we be responsible for any errors or omissions in the description of the properties. EXPLANATION SOFT CLOSE: if an item receives a bid within the last 2 minutes, then the close time will be extended 2 minutes from the time the bid is placed. The time will continue to be extended for 2 minutes with each newly placed bid and the item will not close until 2 minutes has elapsed with no additional bid activity. This does eliminate "snipers" from our Internet Auctions. Please be assured that we have taken every precaution to set the site up in a transparent manner that allows for the fairest environment for both buyers and sellers. TERMS ON EQUIPMENT & PERSONAL PROPERTY BUYER'S PREMIUM: A 5% Buyer's Premium Will Apply to All Purchases. All offers are made subject the approval of the Federal Bankruptcy Court. LOAD OUT TIMES: 9:00am - 5:00pm on the following days: Friday October 23rd - Wednesday, October 28th. AUCTION COMPANY DOES NOT HAVE STAFF OR EQUIPMENT ON HAND TO LOAD. Buyers must come prepared with plenty of help and proper loading equipment for large/heavy items. SPECIAL TERMS ON "SOUTH 40" SAWMILL EQUIPMENT & STEEL BUILDINGS: (Auction Lot Numbers 1-36a: Buyers will have 21 days from the date of the auction close to remove all sawmill equipment & steel buildings. All equipment must be removed from the premises on or before Wednesday, November 12th at 5:00pm. If buyer cannot fulfill this obligation, then buyer must not bid. It is the buyer's sole responsibility to dismantle, rig, & remove all equipment during the designated load out times. Wooley Auctioneers is not responsible for loss or damages, accidents, or injuries at auction site before, after, or on day of sale. AUCTION LOCATION: Online Only - No Onsite Bidding Available. PAYMENT OPTIONS: Cash, Cashiers Check or Wire Transfer. Wooley Auctioneers wiring instructions will be furnished to successful purchasers at the conclusion of the auction. PARTICIPATION REQUIREMENTS: Name, address, daytime phone number, email address and a Valid Credit Card required for bidding approval. CURRENCY TYPE: USD BUYER'S CONTRACT: Your bids placed on the Wooley Auctioneers website are a contract and you are responsible for paying all amounts due. If you cannot pay for and pick up the items during the times specified, then you must not bid. FAILURE TO PICK-UP ITEMS: All items MUST BE REMOVED from the premises at the designated times. IF YOU FAIL TO PICK-UP ANY ITEMS on the days that have been scheduled YOU WILL BE CONSIDERED TO HAVE FORFEITED THE ITEMS AND TITLE WILL REVERT BACK TO THE SELLER. Please contact the auction company BEFORE THIS AUCTION CLOSES if you foresee a problem. No Refunds will be issued for abandoned items. SHIPPING: No shipping options available for this auction. Auction company does not ship. Wooley Auctioneers, Inc. (Auction Company) is providing an Internet auction as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall bidder have any kind of claim against Auction Company or anyone else if the Internet service fails to work correctly during the online auction. Auction Company will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy bidding feature and leave their maximum bid at least 24 hours before the auction closes. Auction Company reserves the right to withdraw or re-catalog items in this auction. SPECIAL TERMS OF SALE 1. YOUR BID IS A CONTRACT TO BUY should you be the winning bidder. 2. All property is sold "AS IS". 3. No returns: All sales are final. There are no returns, refunds, or adjustments. 4. Age Requirement: All bidders must be 18 years of age or older. 5. Our Internet on-line auctions move quickly. If you are interested in an item, bid quickly. If you win an item in the auction you will be notified by email. 6. Any debt collection or dispute proceedings will be heard in Pulaski County, Arkansas. 7. ALL SALES ARE FINAL. Your bid IS A CONTRACT TO BUY should you win. 8. By bidding on any item, the bidder shows acceptance of the terms of the auction. 9. The auction company reserves the right to refuse service to any person. 10. All announcements made prior to the close of the Internet bidding take precedence over any and all written or verbal statements. 11. Wooley Auctioneers attempts to describe the merchandise to the best of our abilities however we make no representations or guarantees. In no event shall Wooley Auctioneers, Inc. be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Nor shall we be responsible for any errors or omissions in the description of the merchandise. AUCTION COMPANY DOES NOT HAVE STAFF OR EQUIPMENT ON HAND TO LOAD. Please come prepared with plenty of help and proper loading equipment for large/heavy items. EXPLANATION SOFT CLOSE: if an item receives a bid within the last 2 minutes, then the close time will be extended 2 minutes from the time the bid is placed. The time will continue to be extended for 2 minutes with each newly placed bid and the item will not close until 2 minutes has elapsed with no additional bid activity. This does eliminate "snipers" from our Internet Auctions. Please be assured that we have taken every precaution to set the site up in a transparent manner that allows for the fairest environment for both buyers and seller

FORMERLY BARNES & BARNES TIE ONLINE ONLY AUCTION 5235 HIGHWAY 563, SIMSBORO, LA 71275 BIDDING ENDS THURSDAY OCTOBER 22nd AT 2:00 pm INSPECTION: Tuesday October 20th from 1:00pm 5:00pm AND Wednesday October 21st from 10:00am 5:00pm