Lot # : 2 - Agreement To Purchase

OFFER and AGREEMENT TO PURCHASE Miller Estate Entire Unit Ronald A. Bradeen of Bradeen Real Estate & Auctions Inc.; designated Auctioneer/Brokers, acknowledge receipt of: $_________________________, representing 15% of the purchase price from: ______________________________________________________, Designated as Buyer(s), with the address of ______________________________________________________________________________, as a deposit and irrevocable earnest money on the purchase of the property legally described as: Tract B (Including Tract 1 of Tract B) of NW1/4SW1/4, Section 16, T4, R3, BHM, Custer County, South Dakota. Property Address: 11406 Pass Creek Road, Custer, SD 57730 OWNED BY: Robert Miller Estate, Matt Hespen Personal Representative, hereinafter referred to as Seller. TERMS OF THE AGREEMENT 1. The total purchase price is $______________________, which includes the earnest money deposited herewith. 2. After earnest money is credited, the remaining balance of $_______________________________, is to be paid in full at closing, in guaranteed funds, on or before August 27th, 2021 3. Marketable title, as defined by the SD Merchantable Title Standards Act, shall be conveyed by Personal Representatives Deed, properly executed with necessary transfer fee paid for recording subject to any easements, restrictions and reservations and covenants of record. The Seller will furnish a policy of title insurance in the amount of the sale price. 4. 2020 and prior years taxes will be paid by Seller, 2021 taxes will be prorated to closing date, based upon the 2020 tax levy. Buyer will be responsible for all subsequent taxes. Possession and risk of loss on the property transfer upon closing. 5. Broker shall act as escrow agent for both Seller and Buyer and it is agreed that the above earnest money deposit and balance of sale proceeds will be held in the SD Trust account of Bradeen Real Estate and Auctions Inc. of Custer SD, in account of the Seller until time of closing. Buyer understands and agrees that the above earnest money payment is irrevocable and is not subject to Buyer contingency of any kind. In the event the Buyer shall not complete the purchase as herein agreed, the Seller may elect to declare the earnest money as liquidated damages. Seller and Purchaser, upon such election by Seller, agree that in the event of default by Purchaser the actual damages accruing to seller would be impracticable or extremely difficult to fix and establish. Seller and Purchaser, upon such election by Seller, agree that the amount of the down payment set forth is a reasonable approximation of default and that amount shall be the liquidated damages due to seller. In addition, Seller may be entitled to such other remedies allowed by the laws of the State of South Dakota, including without limitation, seeking specific performance. 6. Buyer and Seller acknowledge that Ronald Bradeen, Broker and associated staff are representing the Seller in a Single Agency Relationship in this transaction. 7. Buyer has examined the property to the extent deemed necessary both on and off premise and is purchasing the property in an “AS-IS” condition. The Seller and Auctioneer/Broker make NO WARRANTIES expressed or implied and DISCLAIM ALL OTHER WARRANTIES, including the property’s fitness for any particular purpose. Buyers are not relying upon any statements or representations made by the Auctioneers/Brokers or Seller in any way. Buyer is purchasing “As-is, Where is”. Buyer to accept the property with any remaining misc. personal property at the time of closing. 8. Property sold by legal description only. Seller is not aware of any boundary disputes or encroachments. If a property survey is required it will be at the buyer’s expense. 9. Personal Property NOT included in this transaction include: Refrigerator, Wind mill, several antiques, propane tanks and other Cataloged online only auction items scheduled to close Tuesday July 27th 2021. 10. Buyer and Seller agree for scheduling of the closing at the designated title company, Southern Hills Title Company of Custer, SD and to share equally in cost of the closing fee with Buyer and Seller paying for customary closing costs incurred by this transaction. 11. Time is of the essence for purpose of performance under this agreement. 12. This agreement shall be governed by, and construed and enforced in accordance with the laws of the State of South Dakota. 13. The parties agree that this writing constitutes the entire agreement between them and that there are no other oral or collateral agreements or under standings of any kind or character. 14. If any provision of this agreement shall be invalid or unenforceable to any extent, the remainder of this agreement shall not be affected thereby and shall be enforced to the fullest extent permitted by law. 15. In the event of any litigation arising out of this agreement, the prevailing party shall be entitled to all of its costs and expenses, including reasonable attorneys’ fees and disbursements. 16. This agreement accepted, signed and dated by the Buyers at Custer, SD, this 27th day of July, 2021 and is binding on the heirs, successors and assigns of the parties. 17. This agreement accepted, signed and dated by the Sellers at Custer, SD this 27th day of July, 2021 and is binding on the heirs, successors and assigns of the parties. BUYER: ___________________________________ ___________________________________ SELLER: ___________________________________ Robert Miller Estate Matt Hespen Personal Representative Authorized Signature AUCTIONEER/BROKER ____________________________________ Bradeen Real Estate & Auctions, Inc. Authorized Signature