Terms of Auction

LEGAL DESCRIPTION: Parcel Number 02-07-16-126-001.000-073; FRL N 1315.28 FT E1/2 NW1/4, S OF COOK RD R/W SEC 16 EX SW, 14.95 A TRI PT & EX TRS

BUYER'S PREMIUM: A 2% buyer's premium will be added to the high bid to determine the total contract purchase price.

DOWN PAYMENT: Buyer shall submit a $10,000 down payment on the day of the auction, with the remainder due in cash at closing. Down payment may be made by cashier's check or corporate check.

PURCHASE AGREEMENT: Buyer shall submit a written purchase agreement, matching the terms of this auction, following the close of the auction.

ACCEPTANCE OF PURCHASE AGREEMENT: Written purchase agreement subject to seller's acceptance within 24 hours.

CLOSING: Buyer must be able to close within 60 days of auction date. Purchase is not contingent upon financing.

TITLE / DEED: Seller will provide an owner's title insurance policy in the amount of the purchase price. Seller will provide a Warranty Deed. Title, Closing, and any applicable fees will be shared 50:50 between buyer and seller.

POSSESSION: Possession will be transferred on day of closing, immediately following the closing.

BROKER PARTICIPATION: Real Estate brokers may be eligible for inclusion with pre-registration; contact auctioneer for details.

REAL ESTATE TAXES: The real estate taxes will be prorated to the day of closing.

ACREAGE: Any tract acreage, dimensions, boundaries, and drawings provided by the seller are to be considered approximate and have been taken from current legal descriptions or other documents deemed reliable.

ASSOCIATION AND COVENANTS: Land use will be subject to Venture Park association Covenants and Protective Restrictions

PRE-AUCTION OFFERS: Per Indiana law, all written real estate offers submitted to the auctioneer will be presented to the seller. Seller has the right to accept or reject any offer submitted before, during, or after the auction.

AGENCY: AAA Auction Service, Inc. and its representatives are exclusive agents of the seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in auction marketing materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, neither expressed, nor implied, concerning the property is made by the Seller or the Auctioneer. Each potential bidder is responsible for conduct of his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. Any information provided is subject to verifications by all parties relying on it. The Seller or the Agent assumes no liability for inaccuracy, errors, or omissions. Conduct of the auction and increments of bidding are at the discretion of the Auctioneer. The Seller and Agent reserve the right to preclude any person from bidding if there is any question as to the person’s credentials, fitness, etc. All decisions of the Auctioneer are final.

ANY ANNOUNCEMENTS MADE DAY OF SALE TAKE PRECEDENCE OVER PUBLISHED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.