TERMS & CONDITIONS The following terms and conditions apply to every auction posted on the Zielsdorf Auction and Real Estate Services website. By placing a bid on this website, bidders acknowledge their receipt and acceptance of these terms and conditions, and acknowledge that they are entering into a legal and binding contract. 1. Payment Down payment is due on the day of auction closing. All other payments are due according to the stated time in the auction. Signing of contracts will take place in person at Zielsdorf Auction Facility or via email and electronic document signatures. Acceptable forms of payment are Bank Wire Transfer or Check. 2. Agency Zielsdorf Auction and Real Estate Services and its employees act as agents for sellers. Unless otherwise noted in specific auction terms, all auctions are with reserves. The reserve amount is undisclosed unless advertised otherwise as “absolute”. Auctioneers, at their discretion, may place a reserve bid on behalf of the seller. All final bids are subject to confirmation by seller. Bid status will be given to top bidder only. All information provided by Zielsdorf Auction and Real Estate Services is deemed correct, but Zielsdorf Auction and Real Estate Services does not give any warranty, express or implied, as to any item being sold. Bidders agree to purchase and accept items or real estate in an as-is condition. Bidders agree to hold Zielsdorf Auction and Real Estate Services, its employees and agents harmless for any errors or omissions regarding online auction items or real estate. 3. Inspection Bidder acknowledges that bidder has the right to inspect any item or real estate. By bidding on an item, bidder agrees to accept the item in its present condition at its present location. 4. Auction Close Online auctions will close on the date and time listed. Lots will remain open until no bids have been received for 6 minutes. Upon accepted bid of an item, that item shall immediately become bidder’s responsibility and be at bidder’s risk. Zielsdorf Auction and Real Estate Services is not responsible for lost, stolen or damaged items and will not reimburse or discount items for any loss. Buyers are responsible for any and all costs incurred for shipping or transport of items. Buyers agree to remit payment and remove property according to the terms stated in the auction. 5. Default Bids may not be canceled or retracted for any reason. Nonpayment or fraud by bidders will be subject to applicable legal recourse including civil and criminal proceedings. 6. Technology Zielsdorf Auction and Real Estate Services does not guarantee that bids placed online will be transmitted to or received by the auctioneer in a timely fashion. Bidders agree to hold Zielsdorf Auction and Real Estate Services and its employees harmless from any interruptions in online bidding. Zielsdorf Auction and Real Estate Services may suspend, postpone, or cancel any internet auction due to technological difficulties, at its discretion. 7. Bid Acceptance Zielsdorf Auction and Real Estate Services reserves the right to accept or refuse any bid, at its discretion. Zielsdorf Auction and Real Estate Services reserves the right to modify any of these terms and conditions at any time, with or without notice. Attention Bidders: · Registration & Bidding will happen at zielsdorfauctions.com. For help registering or bidding please call 320-843-3003 · The auction staff will be available during regular business hours 8 am—4:30 pm Monday– Friday · The successful bidder will be required to sign a Purchase Agreement at the close of the auction at Zielsdorf Auction Facility Located at 119 3rd st north, Benson, MN 56215 · A deposit of 10% is required the day of sale. That money will be placed Zielsdorf Auction and Real Estate Trust Account. · Financing is not a contingency of sale in this offering. Therefore, it is strongly recommended that potential bidders ensure in advance that they are able to obtain the necessary financing to close the transaction. If purchaser cannot obtain financing on the property because he/she cannot fulfill terms or does not qualify, then purchaser must either close for cash within the contractual period or forfeit his/her earnest money deposit. · Balance of the purchase price must be paid in full at closing, or when all paperwork has been completed. · Property is sold “AS IS, WHERE IS”, with no warranties, expressed or implied. · MOST ITEMS WILL BE REMOVED · Property will be sold subject to owner confirmation. · Any items left at closing will stay with property · Property will be sold without warranty. · All information contained in the auction brochure and all other promotional materials including, but not limited to, photographs, directions, acreage, zoning, maps, taxes, etc. All information was provided by or on behalf of the seller and is believed correct. However seller nor auctioneer makes any guarantees or warranties as to the accuracy or completeness of the information. It is the sole responsibility of the purchaser to perform all inspections and review all property information to verify any information they deem important. Successful Bidder · The successful bidder will be determined by competitive bidding. The auctioneer reserves the right to make a final decision shall a dispute arise. The auction will be recorded and the auctioneer’s records shall be conclusive in all respects. Environmental Disclaimer · The seller, broker, and auctioneers do not warrant with respect to the existence or nonexistence of any pollutants, contaminants, or hazardous waste prohibited by federal, state, or local law. The buyer is to rely upon his/her own environmental audit or examination of the premises. Important Notes · Zielsdorf Auction and Real Estate Co. LLC, is representing the seller. · The seller has agreed to the terms of the sale as published. However, the broker and auctioneer make no warranties or guaranties as to the seller’s performance. · Discuss your buying plans with a lender. Have your financing arrangements made in advance. · Sale is NOT subject to financing. · ALL ANNOUNCEMENTS ON AUCTION DAY TAKE PRECEDENCE OVER PREVIOUSLY ADVERTISED INFORMATION. · Buyer and Seller will be responsible for their own closing costs. · A Buyers Premium of 6% will apply to final bid. · Real Estate Taxes will be pro rated from day of closing · Buyer will receive a Clear and Marketable Title on day of closing · Closing will take place at a professional Title company or Attorney, agreeable by both buyer and seller. · Buyer is encouraged to bring own inspections to inspect and/all aspects of the buildings