Online Bidding Real Estate Terms and Conditions Payment: The Successful bidder shall pay an amount of 10% of the purchase price (including Buyer's Premium) (Earnest Money) and is due by 12:00 Noon, Monday, July 13, 2020, in the form of cash, cashier's check or wire transfer, plus a real estate sales contract must be signed. Balance is due in certified funds at closing. NO EXTENSIONS AVAILABLE. Buyer's Premium: There is a 10% Buyer's Premium in effect for this auction. Terms for Online Bidding: The online registration will need to be completed, including credit card information which will be verified and approved, and the credit card will be charged $1.00 for this process. If you are the successful bidder and do not deliver the earnest money as outlined above, a charge of 10% of the Purchase Price will be placed on the credit card plus a 3% credit card fee. The card is for verification purposes to ensure we have serious bidders. The balance of the contract price will be paid in full at closing no later than July 31, 2020. The successful online bidder will be notified immediately following the closing of the auction and issued the sales contract. The executed sales contract shall be submitted per the instructions received with the contract. If you have any questions, please call our office at 865-546-3206. BUYER'S PREMIUM: A 10% buyer's premium will be added to the high bid. Example: For each $10,000 a 10% buyer's premium of $1,000.00 will be added to arrive at the total purchase price. AGENCY: Furrow Auction Company, auctioneer/broker, is acting exclusively as agent for the seller. CLOSING ATTORNEY: Closings will be conducted by Tennessee Valley Title, Knoxville, TN, Tracey Axtell, Phone: 865-523-6254. Taxes to be pro-rated at closing. Buyer shall pay: (1) all title examination updates and insurance (at Buyer's option and expense); (2) one-half closing fee; (3) recording of deed. For questions regarding closings contact Rob Strickland, Furrow Auction Company, 865-546-3206 or email rob@furrow.com. DISCLAIMER: Property is selling "as-is, where-is" with all faults and is selling subject to easements, leases, restrictions, covenants, conditions, zoning HOA and POA fees and all other matters which would be revealed by a current survey or an inspection of the property or which is contained in public records. Seller reserves the right to cancel the sale. Property will be conveyed by a "Warranty Deed". Information contained herein was obtained from sources deemed reliable. The seller and their agents reserve the right to place bids on the property up to the seller's reserve at their sole discretion. The property will sell "as-is, where-is" with no warranty, expressed or implied, as to improvements, soil condition, environmental and wetlands, or zoning. No personal property conveyed with real estate. Neither the seller, Furrow Auction Company nor their agents will be responsible for any errors or omissions herein. Bidders should carefully verify all information and make their own decisions as to the accuracy thereof before submitting their bid. Purchaser or purchaser's representative will acknowledge by signature of the Contract of Sale they have inspected the property. The terms of the Contract of Sale are controlling in the event of any perceived inconsistency between its terms and any statements or other advertisement. Cash Sale: This is a cash sale and is not contingent on Purchaser's ability to obtain financing. Possession: Purchaser will receive possession at closing. No New Survey: The Property shall be conveyed by the existing legal description. Equal Opportunity Clause: All bidding is open to the public. The property is available to qualified purchasers without regard to a prospective purchaser's race, color, religion, sex, material status, national origin, or physical handicap. Debt Collection and Interest Charge: The bidder agrees to pay all reasonable attorney fees and other costs incurred by Furrow Auction Company in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due Furrow Auction Company. Any debt collection or dispute proceedings will be heard in Knox. County. 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 payment of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee. Furrow Auction Company is providing internet bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Furrow Auction Company. Furrow Auction Company will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the auction begins. Furrow Auction Company reserves the right to withdraw or re-catalog items for any items at auction. Furrow Auction Company reserves the right to deny any person the right to bid online or onsite at the auction and may revoke the privilege at any point during the auction sale. Age Requirement: All bidders must be 18 years of age or older.

THESE LOTS WILL BE SOLD PICK AND CHOICE TO HIGH BIDDER Private, Gated, Waterfront Community, Large, Clear, Executive Sized Lots. Community Clubhouse w/Fireplace, Pool Table, Deck, Full Kitchen and Sitting Areas. Community Tennis & Volleyball Courts, Fitness Center, Private Community Marina w/Boat Slips & Lake Access. Spectacular Views of Tellico Lake. Great Location just 25 minutes south of Knoxville. Taxes to be pro-rated at closing. Zoning: These lots are located in the county outside the jurisdiction of any town/city planning regions, therefore these lots are not subject to any applicable municipal zoning ordinances.