ONLINE AUCTION TERMS AND CONDITIONS Bidders send Bank Letter of Credit to bobbycoslon@yahoo.com to be approved to bid. You must be approved by Bill Colson Auction and Realty Company on or before December 7th 12 Noon. IF YOU DO NOT AGREE WITH ALL OF THE TERMS AND CONDITIONS OF THE ONLINE AUCTION, DO NOT BID. BY BIDDING, YOU ARE REPRESENTING AND ACKNOWLEDGING THAT YOU HAVE READ ALL OF THE TERMS AND CONDITIONS FOR THE ONLINE AUCTION AND THAT YOU AGREE TO BE BOUND BY ALL OF THE TERMS AND CONDITIONS OF THE ONLINE AUCTION. Address; 2614 Old Lebanon Pike Donelson Tennessee 37214 Tax ID# 095-04-0-021.00 Inspection November 30th 2021 9:00 AM – 3:00 PM Please Review All Online Terms Prior To Bidding. This is a Live Simulcast Auction. Property information believed to be accurate but not guaranteed. Buyer should independently verify all information prior to bidding. There will be Live Onsite and Online bidding. Terms: CASH - PROPERTY IS BEING SOLD AS-IS, WHERE-IS WITH NO CONTIGENCIES. 15% Non-Refundable Earnest Money due day of sale with balance at closing. Deed and Insured Title Furnished by Seller. You can have up to 30 days to close, if you need it This is a Reserve Auction You will get a deed and insured title proved by the seller The buyer will have to pay the state transfer tax and to record the deed. Taxes will be prorated, and any back taxes will be paid by the seller As a prerequisite for bidding today, you are waving your 10-day right of inspection for lead based paint. High Bidder will be required to sign a purchase contract at conclusion of sale. Again … this sale is a Cash sale – there are no contingencies – it is being sold “AS-IS”. If you have the money bid if you don’t, don’t bid. Each Bill Colson Auction and Realty Co. Inc. auction may have different bidding increments. The software will calculate the next bid amount before submitting the bid. Buyer specifically acknowledges herein that the property is being purchased "AS IS" with all faults and that neither the Seller nor Bill Colson Auction and Realty Co. Inc. makes any warranties or representations, express or implied. Acceptance of Bid Prices: The auctioneer and/or Seller shall make the sole and final decision as to the winning high bid amount. Acceptance by the online bidding platform does not necessarily constitute an accepted bid by the auctioneer. Bidder Verification: The identity of all bidders will be verified. Bidding rights are provisional, and if complete verification is not possible, Bill Colson Auction and Realty Co. Inc. will reject the registration, and bidding activity will be terminated. The Seller and Bill Colson Auction and Realty Co. Inc. reserve the right to preclude any person from bidding. Bill Colson Auction and Realty Co. Inc. reserves the right to modify, change, or remove usernames at any time. Buyer and or Bidder agrees to hold harmless and indemnify Bill Colson Auction and Realty Co. Inc. and its Agents, Owners, Directors, Employees, and its Representatives from any and all claims, damages or suits including but not limited to awards, judgments, costs, fees, etc. Guaranty Agreement: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees earnest money payment to Bill Colson Auction and Realty Co. Inc. By previewing the property, the bidder acknowledges they and or their guest have the possibility of being exposed to any life-threatening illnesses including but not limited to the COVID-19 Coronavirus The contract is required to be fully and correctly completed, WITHOUT any modifications and properly signed by 12:00 Noon Thursday December 9th, 2021. Server & Software Technical Issues: In the event that there are technical difficulties related to the server, software or any other online auction-related technologies, Bill Colson Auction and Realty Co. Inc. reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Bill Colson Auction and Realty Co. Inc. shall be held responsible for a missed bid or the failure of the software to function properly for any reason. Email notifications may be sent to registered bidders with updated information as deemed necessary by Bill Colson Auction and Realty Co. Inc. 15% OF THE FINAL BID PRICE REQUIRED as non-refundable earnest money in the form of a certified check, cash, or wire transfer by Thursday December 9th 12:00 Noon, with the balance of purchase price due at closing. Purchaser shall be responsible for all wire transfer fees. Closing will be as specified in the Contract for Sale of Real Estate. This online only auction is a CASH SALE not contingent on or subject to financing, appraisal, survey, or inspections of any kind. COVID-19: YOU AGREE TO ABIDE BY ALL CDC GUIDELINES WHILE ON THE AUCTION COMPANY’S PROPERTY INCLUDING BUT NOT LIMITED TO WEARING A COVERING OVER YOUR MOUTH AND NOSE AT ALL TIMES AND MAINTAINING A DISTANCE OF AT LEAST SIX (6) FEET FROM ALL OTHERS. You agree to hold the Auction Company blameless and harmless in the event that you or anyone you bring onto or send onto the Auction Company’s property or Auction Location contract COVID-19 or any other communicable disease. You further agree to fully indemnify the Auction Company in the event that you or anyone you bring onto or send onto the Auction Company’s property or Auction Location contracts COVID-19 or any other communicable disease and files any claim against the Auction Company, files any lawsuit against that Auction Company, or institutes any action of any type against the Auction Company related to contracting COVID-19 or any other communicable disease.