.
Exhibit A - REAL ESTATE TERMS & CONDITIONS<br>
THIS IS A LIVE (ORAL) AUCTION<br>
<br>
A 5% Buyer’s Premium will be added to the final bid price which becomes the Total Contract “Purchase Price”. Final Bid Price plus 5% = Total Purchase “Contract Price”. <br>
<br>
Procedure: Property will be offered as individual tracts, in any combination of tracts, or as a total unit. Individual bidders may choose which way best fits their needs as there will be open bidding on all tracts and combinations throughout the auction, as determined by the auctioneer. Bids on tracts, tract combinations, and the total property may compete. Property will be sold in the manner resulting in the highest total sale price, subject to the Seller’s acceptance or rejection. <br>
<br>
Earnest Money: 20% of the accepted contract price as earnest money on the day of auction. <br>
<br>
Pre-Approved Owner Financing: Pre-approved bidders may take advantage of owner financing through a real estate contract. The balance will be amortized over 15 years with a 7 year balloon at 7% interest. <br>
<br>
Cash At Closing: Balance due in cash at closing if the buyer elects to pay cash and not take advantage of the owner carrying the contract. <br>
<br>
Bidder Qualification: Bidders must pre-register with the Auction Company on or before Wednesday, May 27, 2015, then cash or personal check will be accepted for the down payment (contact Chuck Yarbro Auctioneers for a pre-registration form or visit www.yarbro.com.) In any event, this 30% down payment must be completed day of auction. PLEASE NOTE: YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.<br>
<br>
Approval of Bid Price: All successful high bidder(s) will be required to enter into Purchase and Sale Agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Seller.<br>
<br>
Deed: Seller will provide Warranty Deed(s).<br>
<br>
Evidence of title: The Seller agrees to furnish, at Seller’s expense, an Owner’s Policy of Title Insurance in the amount of the purchase price.<br>
<br>
Closing: Closing will be on or before 5:00 p.m., June 19th, 2015, or as soon thereafter as applicable closing documents are completed by Seller.<br>
<br>
Acreage, Dimensions, & Tracts: All lot sizes, dimensions, ect., are approximate and have been estimated based on current legal description, county assessor records, and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.<br>
<br>
Survey: There is no current survey of this property. If purchaser(s) elect to have the property surveyed, sole costs of the survey shall be borne by purchaser. If any post auction survey is completed, the results will not affect the Purchase Price amount.<br>
<br>
Possession: At closing. Any possession granted prior to closing will be subject to sellers approval and must be granted in writing. <br>
<br>
Closing Costs: 2015 real estate taxes will be prorated at the time of closing. Seller to pay title insurance. Balance of closing costs will be shared equally (50%:50%) by Buyer & Seller.<br>
<br>
Failure to Close: If, for any reason the Buyer fails to close, the earnest money shall be retained by the seller and the broker per the terms of the Purchase and Sale Agreement.<br>
<br>
Purchase Agreement To Govern: In the event there are conflicts or inconsistencies between these Terms and Conditions and the Purchase Agreement, the Purchase Agreement shall govern any purchase of the subject property.<br>
<br>
Zoning: Moses Lake Industrial<br>
<br>
Note: The auction property has been operated as a Diesel Truck and/or Trailer Repair Business since November 1983. While every precaution has been taken to avoid any spills detrimental to the environment, the property is being sold AS IS/WHERE IS. Announcements made day of sale by auctioneer or auction floor staff take precedence over previously printed matter or any other oral statements. Conduct of the auction, increments of the bidding and decision as to high bidder will be at the direction and sole discretion of the Auctioneer. The property is offered for sale to all qualified purchasers without regard to the prospective purchaser’s race, color, religion, sex, marital status, or national origin. Auctioneer reserves the right to change the selling method in any manner he sees fit to benefit the selling price. <br>
<br>
Agency Disclosure: Chuck Yarbro Auctioneers is representing the Seller and will be paid by the Seller. Buyer(s) will be required to acknowledge said agency.<br>
<br>
Disclaimer and Absence of Warranties: All information contained in this brochure and all related 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 either expressed or implied, concerning the property is made by the Seller, Broker, Auctioneer or their agents. All sketches and dimensions in the advertisements are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. Prospective buyers are advised to consult with an attorney of their choice with respect to the purchase of any real property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Broker, Auctioneer, or their agents. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents 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. The property herein is being sold subject to Federal, State and County laws, ordinances and regulations which may affect the property and its use, including all conditions, restrictions, limitations and other matters of record. The Seller, Broker, Auctioneer and their Agents make no representation as to any structure or other conditions which may be found on the property. Seller, Broker, Auctioneer or their Agents make no warranties or representations whatsoever concerning thereof or the uses or purposes in which the same may now or thereafter be placed.<br>
<br>
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.<br>
<br>
<br>
New Data, Corrections and Changes: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information.<br>
<br>
Bidder Number Refusal & Removal of Persons: Chuck Yarbro Auctioneers has the right to refuse the issuance of a bidder number and to remove anyone deemed to be a potential detriment to the conduct auction. <br>
<br>
Note: Videotaping, flash photography, and /or public announcements will be allowed on auction day ONLY with prior approval from Yarbro. Some photos may feature terrain, wildlife, activities, and lifestyle characteristics that could be associated with the property, but not images of the property itself.
THIS IS A LIVE (ORAL) AUCTION<br>
<br>
A 5% Buyer’s Premium will be added to the final bid price which becomes the Total Contract “Purchase Price”. Final Bid Price plus 5% = Total Purchase “Contract Price”. <br>
<br>
Procedure: Property will be offered as individual tracts, in any combination of tracts, or as a total unit. Individual bidders may choose which way best fits their needs as there will be open bidding on all tracts and combinations throughout the auction, as determined by the auctioneer. Bids on tracts, tract combinations, and the total property may compete. Property will be sold in the manner resulting in the highest total sale price, subject to the Seller’s acceptance or rejection. <br>
<br>
Earnest Money: 20% of the accepted contract price as earnest money on the day of auction. <br>
<br>
Pre-Approved Owner Financing: Pre-approved bidders may take advantage of owner financing through a real estate contract. The balance will be amortized over 15 years with a 7 year balloon at 7% interest. <br>
<br>
Cash At Closing: Balance due in cash at closing if the buyer elects to pay cash and not take advantage of the owner carrying the contract. <br>
<br>
Bidder Qualification: Bidders must pre-register with the Auction Company on or before Wednesday, May 27, 2015, then cash or personal check will be accepted for the down payment (contact Chuck Yarbro Auctioneers for a pre-registration form or visit www.yarbro.com.) In any event, this 30% down payment must be completed day of auction. PLEASE NOTE: YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.<br>
<br>
Approval of Bid Price: All successful high bidder(s) will be required to enter into Purchase and Sale Agreements at the auction site immediately following the close of the auction. The auction bids are subject to the acceptance or rejection by the Seller.<br>
<br>
Deed: Seller will provide Warranty Deed(s).<br>
<br>
Evidence of title: The Seller agrees to furnish, at Seller’s expense, an Owner’s Policy of Title Insurance in the amount of the purchase price.<br>
<br>
Closing: Closing will be on or before 5:00 p.m., June 19th, 2015, or as soon thereafter as applicable closing documents are completed by Seller.<br>
<br>
Acreage, Dimensions, & Tracts: All lot sizes, dimensions, ect., are approximate and have been estimated based on current legal description, county assessor records, and/or aerial photos. Any corrections, additions, or deletions will be made known prior to the auction.<br>
<br>
Survey: There is no current survey of this property. If purchaser(s) elect to have the property surveyed, sole costs of the survey shall be borne by purchaser. If any post auction survey is completed, the results will not affect the Purchase Price amount.<br>
<br>
Possession: At closing. Any possession granted prior to closing will be subject to sellers approval and must be granted in writing. <br>
<br>
Closing Costs: 2015 real estate taxes will be prorated at the time of closing. Seller to pay title insurance. Balance of closing costs will be shared equally (50%:50%) by Buyer & Seller.<br>
<br>
Failure to Close: If, for any reason the Buyer fails to close, the earnest money shall be retained by the seller and the broker per the terms of the Purchase and Sale Agreement.<br>
<br>
Purchase Agreement To Govern: In the event there are conflicts or inconsistencies between these Terms and Conditions and the Purchase Agreement, the Purchase Agreement shall govern any purchase of the subject property.<br>
<br>
Zoning: Moses Lake Industrial<br>
<br>
Note: The auction property has been operated as a Diesel Truck and/or Trailer Repair Business since November 1983. While every precaution has been taken to avoid any spills detrimental to the environment, the property is being sold AS IS/WHERE IS. Announcements made day of sale by auctioneer or auction floor staff take precedence over previously printed matter or any other oral statements. Conduct of the auction, increments of the bidding and decision as to high bidder will be at the direction and sole discretion of the Auctioneer. The property is offered for sale to all qualified purchasers without regard to the prospective purchaser’s race, color, religion, sex, marital status, or national origin. Auctioneer reserves the right to change the selling method in any manner he sees fit to benefit the selling price. <br>
<br>
Agency Disclosure: Chuck Yarbro Auctioneers is representing the Seller and will be paid by the Seller. Buyer(s) will be required to acknowledge said agency.<br>
<br>
Disclaimer and Absence of Warranties: All information contained in this brochure and all related 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 either expressed or implied, concerning the property is made by the Seller, Broker, Auctioneer or their agents. All sketches and dimensions in the advertisements are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. Prospective buyers are advised to consult with an attorney of their choice with respect to the purchase of any real property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller, Broker, Auctioneer, or their agents. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents 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. The property herein is being sold subject to Federal, State and County laws, ordinances and regulations which may affect the property and its use, including all conditions, restrictions, limitations and other matters of record. The Seller, Broker, Auctioneer and their Agents make no representation as to any structure or other conditions which may be found on the property. Seller, Broker, Auctioneer or their Agents make no warranties or representations whatsoever concerning thereof or the uses or purposes in which the same may now or thereafter be placed.<br>
<br>
ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.<br>
<br>
<br>
New Data, Corrections and Changes: Please arrive prior to scheduled auction time to inspect any changes, corrections or additions to the property information.<br>
<br>
Bidder Number Refusal & Removal of Persons: Chuck Yarbro Auctioneers has the right to refuse the issuance of a bidder number and to remove anyone deemed to be a potential detriment to the conduct auction. <br>
<br>
Note: Videotaping, flash photography, and /or public announcements will be allowed on auction day ONLY with prior approval from Yarbro. Some photos may feature terrain, wildlife, activities, and lifestyle characteristics that could be associated with the property, but not images of the property itself.