TERMS:

TERMS AND CONDITIONS OF SALE:
RESTRICTIONS: Subject only to (1) all City, County, and State laws, ordinances and regulations and (2) any easements, encumbrances, and restrictions applicable to the Property. Sellers is placing no restrictions on the property.
UTILITIES: United Country - Regan & Co. Real Estate, nor the sellers guarantees the availability of utilities, public or private. This consists of but is not limited to: wells, septic tanks, access to public utilities or any hookup fees therewith. Confirmation of utility availability is the bidder's sole responsibility.
EARNEST DEPOSIT: Earnest Money in the amount of 10% of the Purchase Price is due on Auction Day and upon signing the Purchase Contract. The deposit can be paid in the form of Personal or Business Check, Cash, Cashier Check. Your deposit is Non-Refundable.
TAXES: Sellers shall pay 2015 taxes and all prior years. 2016 taxes will be pro-rated to the date of closing.
TITLE/CLOSING COSTS: Sellers and Buyer shall share equally in the cost of owner's title insurance and escrow closing. A Preliminary Title Policy has been prepared by First American Title Co. in Garden City, KS and will be updated with Buyer information prior to closing. Buyer is responsible for cost of lender's policy.
TITLE EVIDENCE/DEED: Sellers will deliver to Buyer an insurable deed for the Property at time of closing, conveying clear and marketable title of surface rights to said Property, free of all encumbrances, liens and judgment, except for those lawful conveyances and restrictions that exist on record before the date of the auction, as noted in the title insurance commitment.
SURVEY: The land is being sold based on the legal description.
MINERALS: This land will sell as the surface-only, as the Sellers has elected to reserve all of the mineral rights.
PROPERTY SOLD "AS IS, WHERE IS, WITH ALL FAULTS" WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND: The real property shall be sold subject to conditions, restriction, right-of-way easements, and reservations; if any, of record, filed and untitled mechanic's and material men's liens; if any, and all other matters of record taking priority, subject to the rights; if any, of tenants-in-possession, and further subject to all conditions announced at the safe; and confirmation of the sellers. Announcements made day of auction take precedence over previously printed material and oral statements.
FOR THE LIVE AUCTION: Bidders must present photo identification in order to obtain a Bidder's Number. The high bidder will execute a Contract for Sale of Real Estate and provide a binding deposit of 10% of the Purchase Price.
CLOSING: Buyer must close sale of real property on or before April 30th, 2016. TIME IS OF THE ESSENCE. The entire purchase price must be paid by Cashier/Certified check or wired funds at closing. No purchase is contingent on financing. Buyer is entitled to a deed for property upon full payment. Buyers should have all tests and inspections completed prior to the date of the auction. Only the Purchase Contract shall set forth Sellers obligations to the successful Bidder.
ADDITION OR WITHDRAWAL FROM SALE; CONDITION OF SALE: All bids are subject to Sellers approval and the tracts are being offered for sale with that reservation. The Auctioneer reserves the right to cancel the auction up to the time prior to the commencement of bidding. If a subsequent survey by the Buyer shows a greater or lesser number of acres or square footage this will not affect the purchase or purchase price.
AGENCY: The Broker/Auctioneer is acting as agent for the Sellers only. During bidding, the Auctioneer has the right to reject any raise that in his opinion is not commensurate with the property value. In the event of any dispute after the sale, United Country - Regan & Co. Real Estate's record of final sale shall be conclusive. All information and materials provided by Auctioneer is subject to inspection by all appropriate parties and the Auctioneer assumes no liability for its accuracy, errors, or omissions nor its agents, the Sellers or its agents. Prospective bidders should independently verify any information being materially relied upon in making a purchasing decision.
LIQUIDATED DAMAGES: Buyer will forfeit all of their deposit if they cannot close within the stated time herein - and no written extension has been granted by the Sellers. If such action occurs, United Country - Regan & Co. Real Estate, hereby has the right to disperse the deposit as stated in the listing agreement and the Buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by sellers, labor cost, and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the sellers from suing the Buyer for performance damages and/or any additional damages the sellers suffers by the default of the Buyer.
ARBITRATION: For disputes that are not resolved by the parties within 10 days after either party gives notice to the other of its desire to arbitrate the dispute, the dispute shall be settled by binding arbitration by the American Arbitration Association in accord with its then-prevailing rules. Judgment upon the arbitration award may be entered in any court having jurisdiction. The arbitrator shall have no power to change the provisions of this Agreement. The arbitrator shall consist of one arbitrator, who must be a real estate attorney actively engaged in the practice of law for at least the last five years.
BUYER'S NOTE: Individual purchases are to be considered as singular transactions not contingent on the sale of other properties or tracts. United Country - Regan & Co. Real Estate, reserves the right to offer the property in individual tracts, combination of tracts, as a whole or in any way that we see fit in order for it to bring the most money for the owner. The sale of combinations supersedes the sale of individual tracts. The decision of the Auctioneer is final. Sellers and United Country - Regan & Co. Real Estate, reserve the right to amend any terms and conditions prior to or during the auction.
BIDDER'S DUTY TO INSPECT: All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the sellers, the auctioneers, or any other person or entity. Personal onsite inspection of all property by potential bidders is strongly recommended. All sales are subject to the conditions and terms contained herein. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender. This includes but is not limited to public information such as easements, restrictions, zoning, rights-of way, or any other information that can be obtained as public record in the county courthouse or any municipal office concerning subject properties. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced, and/or distributed information. Please note that you are bidding to purchase the Property "As Is, Where Is" with no guarantee or warranty.
United Country - Regan & Co. Real Estate, and its agents represent the Sellers and their fiduciary duties of loyalty and faithfulness are owed to their client (the Sellers).

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