ANNOUNCEMENTS & TERMS OF SALE: Real Property Auction | 1852 S. Main Street, Paris (Bourbon Co.), KY 40361 Saturday, September 23rd, 2023 | 10:00 am On behalf of the Seller, Jane C. Rose, we would like to welcome everyone. My name is Todd McConnell, Real Estate Broker and Principal Auctioneer, dba McConnell Real Estate, Inc. and we have been authorized to sell this Real Estate Property located at 1852 S. Main Street, Paris, Kentucky 40361 at ABSOLUTE AUCTION. This particular property is better described in Deed Book 224, Page 680 which is of record in the Office of the Bourbon County Clerk, Paris, Kentucky. It is shown as One (1) Lot described to be 50 ft x 165 ft. We are Selling this Tract of Land with all improvements by the Lump Sum. There will be minimum bid increments of $500.00 at the discretion of the Auctioneer. We were informed the Electric, Water & Sewer Service is provided by City of Paris Combined Utilities; Gas Service is provided by Columbia Gas of KY; and Waste Collection is provided by Rumpke. 1. DEED: Title will be transferred by a recordable Special or General Warranty Deed, executed by the Seller(s) and shall be conveyed in fee simple on or before October 25, 2023. Time shall be of the essence in closing this sale. 2. POSSESSION: Full Possession with Deed. Purchaser acknowledges and understands that any items left on the premises at time of Closing will then go with Property as the Seller(s) and/or Auction Agents shall NOT be required to clean anything up or remove any items left on premises. 3. REGISTER TO BID: You must Register with Valid Photo ID to receive a Bid Number. No one should make a Bid they do not want to honor or are unable to honor. Bidder acknowledges that once a bid is offered, the Bidder shall be bound to the amount. There are no contingencies in the Auction Purchase Contract on obtaining financing or inspections. All bidding is open to the public. The Property is available to all qualified Purchasers without regard to race, color, national origin, religion, disability, gender, familial status, sexual orientation, or martial status. All willing and able parties have the right to bid and purchase this property being sold at Absolute Auction. 4. BUYER'S PREMIUM: There will be a TEN PERCENT (10%) Buyer's Premium added to the Highest Bid Amount to determine Final Contract Sales Price. 5. AUCTION PURCHASE CONTRACT: A. Once the high bidder is confirmed and the property has been declared sold by the Auctioneer. The high bidder(s) (purchaser) will be required to sign the Auction Purchase Contract for the amount of the high bid plus 10% Buyer's Premium which totals to the Contract Sales Price. B. Upon signing the Auction Purchase Contract, the Purchaser(s) will be required to pay an Earnest Money Deposit of Ten Percent (10%) of the Auction Purchase Contract Sales Price of the Subject Property in U.S. Dollars by Certified Funds or verifiable funds with proper identification acceptable to the Seller(s) and Auctioneer with photo I.D. The Earnest Money Deposit will be made payable to McConnell Real Estate, Inc. Escrow and deposited in McConnell Real Estate, Inc. Escrow Account on Monday morning, September 25, 2023. The Earnest Money Deposit will be credited to the Purchaser(s) at the time of closing with the balance due in US Dollars (by certified funds) on or before Wednesday, October 25, 2023 upon delivery of the deed. Failure to pay the balance due shall require the Purchaser to forfeit his or her down payment, execute a release in favor of the Seller(s) and Auctioneer and be subject to all other remedies available to the Seller(s) under the law. Time shall be of the essence in closing this sale. 6. REAL ESTATE TAXES: The real estate taxes on said property for the current year shall be adjusted in the following manner: all real estate taxes prior to 2023 are to be paid by the Seller(s); 2023 real estate taxes will be prorated to the date of the deed. 2024 and all subsequent years' real estate taxes are to be paid by the Purchaser(s). The 2022 City of Paris (District 02) Real Estate Tax Rate is $11.88 per $1,000.00. The PVA has assessed this Property at $156,000.00 for 2023 Certified Tax Roll. 7. PROPERTY DISCLOSURES: A. Purchaser(s) acknowledges Property is being sold subject to all existing easements, including utility easements, planning and zoning regulations of record. Property and Improvements are being sold "AS IS", with no warranties expressed or implied other than the title. Regardless of any information stated or in print by the Auction Agents, the Purchasers have examined this property and improvements and are relying solely upon such examination with reference to any easements, the condition, character, and size of the Land and All Improvements and all other information. B. Lead Based Paint Warning Statement: Every prospective Purchaser is informed that the Improvements on this Property were built prior to 1978 and notification is given that the property may present exposure to Lead-Based paint. Prospective Purchasers are granted, by law, a period of 10 days the right to inspect any Building for Lead-Based paint. The time period allowed for risk assessment or inspection for possible Lead-Based paint hazards is established as the 10 day period preceding this Absolute Auction. The Purchaser of this property will be required to sign a waiver of any post-sale 10 day inspection period. Items staying with Property: all attached flooring; all light fixtures including ceiling fan/light fixtures; wrought iron railing on porch; Appliances present; any items left on premises when Deed is given goes with the property; 1A. Not Included: folding tables, chairs and equipment owned by auction agents being used to conduct the auction. 8. INSURANCE: The Seller(s) shall bear the cost thereof and maintain hazard insurance on the property until date of closing. If said property is substantially damaged or destroyed by fire or other casualty prior to the closing of the transaction, PURCHASER shall proceed with the transaction in which event the Purchaser shall be entitled to all insurance money payable to Sellers under any and all policies of insurance covering the property so damaged or destroyed up to the amount of the sales price. After closing date the insurance coverage is no longer the responsibility of the seller(s). The Purchaser shall have the right of obtaining any increase of coverage or additional insurance coverage at Purchaser's expense. 9. OTHER TERMS & CONDITIONS: A. Purchaser(s) agree to hold harmless, the Seller(s) and Auction Agents for any damage to Property while being marketed and before closing date, and while people are inspecting this Property and during the Auction of the real estate. B. The responsibility of any grass mowing or upkeep of property grounds and property maintenance is the Purchaser's from today's date on. C. All announcements made from the Auction stand will take precedence over any prior information or printed matter. In the event of any dispute the Auctioneer's decision is final. * THE SELLER(S), JANE C. ROSE, ALONG WITH MCCONNELL REAL ESTATE, INC. APPRECIATE YOUR ATTENDANCE AT THIS ABSOLUTE AUCTION. WE WILL BE GLAD TO ANSWER ANY QUESTIONS THERE MIGHT BE CONCERNING THE PROPERTY AND THE TERMS OF SALE.