Terms & Conditions:

PROCEDURE: This Tract will be offered with open bidding as determined by the auctioneer. The property will be bid in the manner resulting in the highest total sale price.

DOWN PAYMENT: A $2,500 cash down payment is due at the close of auction. A cashiers check or a personal or corporate check immediately negotiable is satisfactory for the down payment. The balance of the purchase price is due in cash at closing.

ACCEPTANCE OF BID PRICES: The Successful Bidder will be required to enter into a purchase agreement at the auction site immediately following the close of the auction. Seller reserves the right to reject any & all bids.

EVIDENCE OF TITLE: Seller shall provide an owners title insurance policy in the amount of the purchase price.

DEED: Seller shall provide a Warranty Deed.

CLOSING: The targeted closing date will be approximately 30 days after the auction (or as soon as possible thereafter upon completion of the Final Title Commitment & Sellers closing documents). The closing agents fee for an administered closing will be shared equally (50:50) between Buyer & Seller. Buyer will pay any closing charges due to Buyer securing a mortgage.

POSSESSION: Possession of the home shall be delivered at closing.

REAL ESTATE TAXES: Real estate taxes shall be prorated to the date of closing.

Buyer will assume & pay all assessments, including drainage assessments, if any, that are last payable without a penalty after the date of closing.

LOT SIZE: The lot size, dimensions & proposed boundaries are approximate & have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: A new perimeter survey shall be prepared only if necessary to complete Title Commitment. Seller & successful bidder shall each pay half (50:50) of the cost of any survey. The type of survey performed shall be at the Sellers option & sufficient for providing title insurance.

AGENCY: Schrader Real Estate & Auction of Fort Wayne, LLC & its representatives are exclusive agents of the Seller.

DISCLAIMER & ABSENCE OF WARRANTIES: All information contained in this brochure & all related materials are subject to the terms & conditions outlined in the Purchase Agreement. The property is being sold on AS IS, WHERE IS basis, & no warranty or representation, either express, or implied, concerning the property is made by the Seller or the Auction Company. All sketches & dimensions in the brochure are approximate. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, & due diligence concerning the property. The information contained in the brochure is subject to verifications by all parties relying on it. The Seller or the Auction Company assumes no liability for its accuracy, errors, or omissions. Conduct of the auction & increments of bidding are at the discretion of the Auctioneer. The Seller & Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.