Exhibit A<br>
Terms and Conditions of Real Estate Auction<br>
<br>
500+/- Acres, Bennington Township, Shiawassee County<br>
Tuesday, May 26, 2015, 9:00 AM<br>
<br>
1. All bidding is open to the public. You will need to raise your hand or call out your bid as the auctioneer asks for bids. This is a one-time opportunity. Watch the auctioneer and his bid assistants. They will take your bid and will assist you with any questions. Online computer bidding will be available the day of the sale as well. <br>
<br>
2. Bidding will remain open until the close of the auction. Bidding will be on a per acre basis in opening round and on a lump sum basis after opening round.<br>
<br>
3. Buyer(s) must be prepared to make a cash offer. No financing is available. Not being sold subject to buyer(s) obtaining financing. Buyer(s) must be capable of paying cash at closing.<br>
<br>
4. 10 % (non-refundable) deposit must be presented upon signing this offer in the form of cash, certified or personal check. Balance of purchase price is due at close of sale, which shall be approximately 45 days after Auction Date, or as soon thereafter as applicable closing documents are completed. <br>
<br>
5. Real Estate is sold subject to Seller(s) acceptance or rejection. Auctioneers and sales agents reserve the right to negotiate final sales price on behalf of the seller.<br>
<br>
6. Buyer acknowledges they are buying property in AS-IS condition, without inspections or contingencies.<br>
<br>
7. Possession shall be given to the successful Buyer(s) at closing.<br>
<br>
8. Purchasers wishing to begin field preparation and planting can do so with the understanding that any seed, fertilizer, fuel, and/or the 2015 growing crop will be forfeited if purchaser does not close in the allotted time. <br>
<br>
9. Sale of Real Estate shall include all mineral, oil, and gas rights owned by the Seller(s).<br>
<br>
10. The purchase and sales contract executed on Auction Day is not assignable. The deed names provided by the high bidder cannot be altered and must be present unless you have their power of attorney. <br>
<br>
11. Taxes and Assessments will be prorated to the closing date.<br>
<br>
12. Real Estate is sold subject to any and all existing matters of record, and all easements, building use or zoning laws and regulations. <br>
<br>
13. Earnest Money Deposit is non-refundable.<br>
<br>
14. The closing fee charged by Title Company will be shared equally between Buyer(s) and Seller(s).<br>
<br>
15. Seller(s) will provide an owner’s policy of title and convey title with a full Warranty Deed.<br>
<br>
16. Sheridan Realty & Auction Co. and their representatives are Exclusive Agents of the Sellers.<br>
<br>
17. There will be no co-broke on this auction!<br>
<br>
18. All announcements from the Auction Block take precedence over printed material.<br>
<br>
19. The terms and covenants of the purchase agreement, including these additional terms (Exhibit A), shall survive closing and shall bind and the benefits shall inure to the heirs, successors, representative and assigns of the Parties.<br>
<br>
Bidding increments are as follows: <br>
$0-$250,000......$5,000<br>
$250,001-$500,000......$10,000<br>
$500,001-$1,000,000......$25,000<br>
$1,000,001-$10,000,000......$50,000<br>
<br>
<br>
I have read and understand terms & conditions of Exhibit A and agree to comply with all said terms.
Terms and Conditions of Real Estate Auction<br>
<br>
500+/- Acres, Bennington Township, Shiawassee County<br>
Tuesday, May 26, 2015, 9:00 AM<br>
<br>
1. All bidding is open to the public. You will need to raise your hand or call out your bid as the auctioneer asks for bids. This is a one-time opportunity. Watch the auctioneer and his bid assistants. They will take your bid and will assist you with any questions. Online computer bidding will be available the day of the sale as well. <br>
<br>
2. Bidding will remain open until the close of the auction. Bidding will be on a per acre basis in opening round and on a lump sum basis after opening round.<br>
<br>
3. Buyer(s) must be prepared to make a cash offer. No financing is available. Not being sold subject to buyer(s) obtaining financing. Buyer(s) must be capable of paying cash at closing.<br>
<br>
4. 10 % (non-refundable) deposit must be presented upon signing this offer in the form of cash, certified or personal check. Balance of purchase price is due at close of sale, which shall be approximately 45 days after Auction Date, or as soon thereafter as applicable closing documents are completed. <br>
<br>
5. Real Estate is sold subject to Seller(s) acceptance or rejection. Auctioneers and sales agents reserve the right to negotiate final sales price on behalf of the seller.<br>
<br>
6. Buyer acknowledges they are buying property in AS-IS condition, without inspections or contingencies.<br>
<br>
7. Possession shall be given to the successful Buyer(s) at closing.<br>
<br>
8. Purchasers wishing to begin field preparation and planting can do so with the understanding that any seed, fertilizer, fuel, and/or the 2015 growing crop will be forfeited if purchaser does not close in the allotted time. <br>
<br>
9. Sale of Real Estate shall include all mineral, oil, and gas rights owned by the Seller(s).<br>
<br>
10. The purchase and sales contract executed on Auction Day is not assignable. The deed names provided by the high bidder cannot be altered and must be present unless you have their power of attorney. <br>
<br>
11. Taxes and Assessments will be prorated to the closing date.<br>
<br>
12. Real Estate is sold subject to any and all existing matters of record, and all easements, building use or zoning laws and regulations. <br>
<br>
13. Earnest Money Deposit is non-refundable.<br>
<br>
14. The closing fee charged by Title Company will be shared equally between Buyer(s) and Seller(s).<br>
<br>
15. Seller(s) will provide an owner’s policy of title and convey title with a full Warranty Deed.<br>
<br>
16. Sheridan Realty & Auction Co. and their representatives are Exclusive Agents of the Sellers.<br>
<br>
17. There will be no co-broke on this auction!<br>
<br>
18. All announcements from the Auction Block take precedence over printed material.<br>
<br>
19. The terms and covenants of the purchase agreement, including these additional terms (Exhibit A), shall survive closing and shall bind and the benefits shall inure to the heirs, successors, representative and assigns of the Parties.<br>
<br>
Bidding increments are as follows: <br>
$0-$250,000......$5,000<br>
$250,001-$500,000......$10,000<br>
$500,001-$1,000,000......$25,000<br>
$1,000,001-$10,000,000......$50,000<br>
<br>
<br>
I have read and understand terms & conditions of Exhibit A and agree to comply with all said terms.