1. Conditions of Sale: This online only auction is not contingent on or subject to financing, appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and specified in the Contract for Sale of Real Estate. Seller and Buyer(s) shall pay their share of the costs of closing. Buyer acknowledges they are buying property "as-is", "where-is", without inspections or contingencies. Buyer(s) will rely on his/her own judgment and inspection.

2. Closing: A Buyer's Premium of 10% is added to the high bid. Please take this into consideration when bidding. At the close of the auction, the successful Bidder will be emailed a Contract for Sale of Real Estate to be executed and returned to Joe Ollis Real Estate & Auction, LLC within twenty-four (24) hours of the completion of the auction along with earnest money. If method of payment of the earnest money is made by credit card, there will be a 5% fee charged. The entirety of the remaining balance is due at closing on or before February 2, 2023. Buyer will be responsible for all wire transfers. Per the Contract, time is of the essence. Possession shall be given to the successful Buyer(s) at closing, seller will provide deed preparation.

3. Liquidated Damages: Successful Bidders not executing and returning their Contract with Earnest Money Deposit within Forty-Eight (48) hours of the conclusion of the auction will be considered in default. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all deposits made and could additionally be liable for any and all costs incurred by Seller and Joe Ollis Real Estate and Auction, LLC incurred in a subsequent resale of the property. If such action occurs, Joe Ollis Real Estate and Auction, LLC hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the seller from suing the buyer for performance damages and/or any additional damages the seller suffers by the default of the buyer.

4. Other Conditions: There are no contingencies to this sale (i.e., financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender prior to bidding if you require financing.
Joe Ollis Real Estate & Auction, LLC reserves the right to remove or cancel the bids and or bidding rights and privileges of any party at any time deemed not to be in the best interest of the seller. The identity of all bidders will be verified, bidding rights are provisional, and if complete verification is not possible, Joe Ollis Real Estate & Auction, LLC will reject the registration, and bidding activity will be terminated.

All Joe Ollis Real Estate & Auction, LLC are timed events, this auction has an extended bidding or "Soft Close" feature. When a bid is submitted in the final minutes of the auction for a lot, the bidding for that lot will be extended for an additional three minutes. This will continue until there are no longer any bids submitted for that individual lot.

5. Real Estate Brokerage Services Disclosure: Joe Ollis Real Estate & Auction, LLC and their representatives are Exclusive Agents of the Seller(s). We do not represent the buyer(s) in any manner and we must be completely loyal and faithful to our client. Joe Ollis Real Estate & Auction, LLC has an exclusive right to sell listing for this transaction. All negotiations must be conducted through Joe Ollis Real Estate & Auction, LLC.

6. Joe Ollis Real Estate & Auction, LLC Involvement in this Contract: The seller and buyer hereby agree that Joe Ollis Real Estate & Auction, LLC is a part of this contract and shall receive compensation as stated in the agreement hereto or as stated in the listing agreement hereby made a part of.

7. Restrictions: Real Estate is sold subject to any and all existing matter of record, and all easements, building use or zoning laws and regulations, if any. Taxes and assessments will be pro-rated to the closing date.

8. Additional Auction Information: All information published, announced or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the seller or the auctioneers. Personal on-site inspection of all property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, right-of-ways, or any other information that can be obtained as public record in the appropriate county courthouse concerning subject properties.

9. Technical Issues: In the event there are technical difficulties related to the server, software, internet or any other auction-related technologies, Joe Ollis Real Estate & Auction, LLC reserves the right to extend bidding, continue the bidding or close the bidding. Neither the company providing the software, nor Joe Ollis Real Estate & Auction, LLC shall be held responsible for the failure of the software to function properly for any reason.

10. Real Estate Taxes: Taxes to be prorated at closing based on latest information from the courthouse records. Back taxes, if any, will be paid by the seller.

11. If using a Realtor please list the name in the comments to the auctioneer section or have them call to fill out a form with us.

Fully Functional Restaurant Online Only Auction 119 State Hwy 169, Karnak, IL 62956 Begins to End December 22, 2022 Thursday 6:30 pm To bid go to www.ollisauction.com Call us today to schedule a showing Tax ID: 03-17-300-009 2021 Taxes: $1,699.46 Year Built: 2016 Square Footage: Approx. 2,032 Lot Size: 116x154x173x154 Game Room 14 x 24 Serving Area 15 x 28 Back Room 21 x 18 & Extra Outdoor Eating Area 16 x 23 Has Circuit Breakers Central A/C Unit Electric Forced Air Electric Hot Water Heater Aerator Septic Public Water Arcade Games are Lemons Coin Machines Gaming & ATMs by J&J Gaming Bunn Slushie Machine Manitowoc Ice Machine & Cornelius Soda Machine True Refrigerator Spot On DCRS System Bunn Coffee Maker Sharp Microwave Merryche Oven (2) Model SWD700-60LED M Duke Mfg. (1) Model SWD 700-25LED M Duke Mfg. True Refrigerated Prep Station Two Lockwood Cabinets Duke Proofer & Oven Combination Two Lincoln Pizza Ovens Two Norlake Walk-In Freezers (3) Westinghouse Menu TVs (1) Samsung TV Lorex Security System Additional Tables & Chairs in the Shed Property Comes With Andy's Subs LLC Which Holds The Gaming & Liquor License However, Buyer Does Not Have to Take This. Call Auction Company Today for a Showing. Do Not Miss Your Opportunity to Own this Property. Seller: John A. Clarke Managing Broker for Mark Twain Real Estate Services, LLC Real Estate Terms: Successful bidder or bidders will be required to enter into a written contract and deposit $5,000.00 earnest money on the day following the auction end date. Balance due on or before February 2, 2023. Deed and title insurance will be provided by seller. Possession will be given on date of closing. A ten percent (10%) buyer's premium will apply to the high bid to establish the contract price. Make your financial arrangements prior to the auction. Potential buyers may make any inspections prior to auction. Joe Ollis Auction Service, LLC IL. Lic # 444.000380 Information Herein Believed to Be Accurate but Not Warranted