REAL ESTATE TERMS & CONDITIONS 1. To register and participate in this auction, all prospective bidders must register at ucgreatplains.hibid.com. A credit card is required to register to verify identity only. 2. A 5% Buyer's Premium will be added to the high bid, or hammer price, to determine the total purchase price on each tract. 3. Earnest money: If bidder is successful, the non-refundable amount of ten thousand ($10,000) dollars for Tract 1 and five thousand ($5,000) for Tract 2 in certified funds, personal check, or cash will be tendered and made payable to Coombs, Hull & Smith and will be deposited into their escrow account. Said Escrow Company shall also handle all closing matters. Balance shall be due and payable, in certified funds, at closing on or before September 14, 2018. Time is of the essence in this transaction. 4. Property is offered and is accepted by buyer(s) in current "as-is" condition with any and all faults and with positively no contingencies. 5. This is a "reserve" auction. Both properties have a minimum-opening bid and will sell at or above the minimum-opening bid. Seller reserves the right to reject the high bid on either property if both properties do not receive an opening bid. 6. If tracts sell separately and buyers desire a boundary survey be completed, then buyers will split cost of boundary survey 50/50. 7. Plats shown herein and the description of any improvements are for informational purposes only, and no representations, warranties or guarantees are made concerning locations, dimensions, or tract size or nature, quality or suitability for use of the tract for any improvements. All information, concerning properties, has been gained from Neosho County courthouse records. 8. The property shall transfer by Deed that is acceptable by Title Company, subject to seller obtaining merchantable title free and clear of all liens. Seller and Buyer will split the cost of owner's policy of title insurance and closing agent's closing fee, only, 50/50. No other closing costs or title insurance costs will be paid by the seller. 9. Once bidding is declared closed by auctioneer, there shall be no further bidding. In the case of a disputed bid, the Auctioneer will use his judgment as to good faith of all claims and his decision is final. 10. Should a dispute arise after the auction, auctioneer's records shall be conclusive in all respects. 11. This is a privately owned and operated auction. We reserve the right to refuse admittance to any person(s). 12. Auctioneer and/or seller reserves the right to withdraw the property prior to auction. 13. Bidder agrees to the above Terms and Conditions of the auction prior to receiving a bid number. 14. The above stated Terms and Conditions of Auction cannot be altered except in writing by all parties of the contract or by verbal changes to terms given by Broker or Auctioneer at the time of Auction. Statements made during the auction take precedence over advertising and previous statements. 15. Bidder does hereby indemnify and hold harmless Auctioneer/Broker, and Seller from any and all damages, claims or liabilities from injuries to person or property of any type whatsoever, caused during auction. 16. United Country - Great Plains Auction & Real Estate listing broker Lance Fullerton is a seller's agent in this transaction and represents the seller not the buyer. 17. All buyer brokers must be present with their clients at auction preview, assist with contract signing, and be present at closing with their client(s) and register no later than forty-eight (48) hours prior to scheduled start time of auction to receive compensation.

Internet-Only Auction of Chanute, Kansas Commercial Property Selling in Two Tracts