TERMS & CONDITIONS OF: 53 Thundercraw Pt., Cedar Grove, TN Carroll County Bidding Starts: July 31st, 2020 at 10:00 a.m. CST Bidding Ends: Thursday, August 20th, 2020 at 5:00 p.m. CST Inspection Information: " Property Preview is on Sunday August 16th from 1:00 - 3:00 p.m. This is a gated community and all tours will be accompanied by a representative of the auction company and a member of Indian Lake HOA. " Buyer's Premium: There is a 10% Buyer's Premium in effect for this auction. " Agreement of Purchase & Sale Immediately following the close of the bidding, the high bidder will be required to enter into a Purchase and Sale Agreement. " Absolute Auction Conditions THIS IS AN ABSOLUTE AUCTION. This means that the property will sell to the highest and best bidder. " Reserve Auction Conditions (if applicable) Unless otherwise indicated, all lots in this auction are offered subject to a reserve, which is the confidential minimum price below which such lot will not be sold. Reserves are agreed upon between the Owner and Auctioneer. The Auctioneer reserves the right to bid as agent for the Owner up to the amount of the reserve by placing successive or consecutive bids for a lot or by placing bids in response to other bidders. " Bid Deposit / Authorization All bidders must receive a bid number to bid. A valid credit card is required to bid. Bidder agrees that a $50.00 hold can be placed on their credit card for an internet service fee and that if they are the winning bidder and fail to close under the terms of this agreement, the $50 internet service fee is non-refundable and will be charged to their credit card. This authorization is not actually charged to your card. If they are not the winning bidder, the $50 internet service fee will be released, and the credit card will not be charged. The successful bidder will be required to sign the "Purchase and Sale Agreement" within 24 hours of auction close and deposit 15% of the total contract price into the Auction Company's escrow account, via wire transfer, within the same 24 hours. Buyer will also be responsible for payment of $15 wire fee. Failure to do so will be considered a breach of contract. " Debit Card Warning We require bidders to secure their accounts with a credit or debit card. Some of our auctions further require a deposit. If you use a credit card to secure your account, the auction deposit will take the form of a credit card authorization and will count against your credit limit for the duration of the authorization (up to 10 business days) If you use a debit card to secure your account, the auction deposit will take the form of a hold on funds in your bank account for the duration of the authorization. Walker Auction & Realty, LLC highly recommends you secure your account with a credit card and is not responsible for any issues arising from the use of a debit card to secure your bidding account. Add a debit card at your own risk. " Auction Ending Beginning at the stated closing time, the auction software will conclude bidding with the following exception: if a bid is placed in the last 3 minutes remaining for that auction lot, bidding for that lot will remain open for an additional 3 minutes; and will continue to be extended until there are no more increases within the 3-minute time frame. " Soft Close Groups To reiterate online auction close, this auction will be using the soft close method. If a bid is placed in the last 3 minutes remaining in the auction, the bidding will remain open for an additional 3 minutes. " Payment and Closing The Purchaser shall pay a non-refundable amount equal to 15% of the total contract sales price, or $2,500.00, whichever is greater, plus $15 wire charge to the Escrow Agent / Closing Attorney by 4:00 p.m. CST on the first business day following the conclusion of the auction (Friday August 21st). The Escrow Agent / Closing Attorney will only accept payment by wire transfer. The Purchaser will be charged for the wire transfer fee (typically $15.00). The Purchaser shall pay the remainder of the total contract sales price at the real estate closing. Closing shall take place within 30 days of the conclusion of the auction or within 15 days of the presentation of the applicable closing documents to the Purchaser, whichever is later. The Escrow Agent / Closing Attorney will schedule and conduct the closing. " Escrow Agent / Closing Attorney The purchase monies, in respect to the real estate shall be paid to and deposited with: Lee & Lee Attorneys at Law, 109 East Gay St., Lebanon, TN 37087 615-444-1312 / Closing Attorney " Survey The seller does not have the original survey and will not provide a new survey. Lot size and dimensions were taken from the tax map of record. Deed Seller shall provide a warranty deed. " Evidence of Title Auctioneer shall post a preliminary title of opinion on its website before the conclusion of the auction. Seller agrees to provide merchantable title to the Property subject to matters of record, general conditions of title and similar or related matters identified in the preliminary title commitment. " Title Insurance The Purchaser may obtain an owner's title insurance policy in the amount of the purchase price from the Closing Attorney at the Purchaser's cost. " Real Estate Taxes Real estate taxes and assessments shall be pro-rated to the date of Closing Taxes for 2019 were $ 837.52 The 2019 taxes are paid in full. " Closing Costs The Owner shall pay the following closing costs: o Title commitment fee o Costs to prepare the deed o 50% of the closing agent's cost to close the sale o Any legal counsel retained by Owner in connection with the conveyance of the Property The Purchaser shall pay the following costs: o The cost of the standard owner's ALTA title policy, if Purchaser chooses to have a title policy issued: o Any special endorsements to the title policy; o Any costs associated with title insurance issued in favor of Purchaser's lenders, if any; o All costs arising from or relating to any loan sought by Purchaser to finance the conveyance; o All recording costs, transfer taxes and mortgage taxes arising from the deed, deed of trust and any other financing documents required by Purchaser's lenders, if any; o 50% of the closing agent's cost to close the sale; and o Any legal counsel retained by Purchaser in connection with the conveyance of the Property " Cash Sale This is a cash sale and is not contingent on Purchaser's ability to obtain financing, or any other buyer contingency. (Buyer's may use financing; however, this sale is not contingent on financing, appraisals, or inspections that might be required by a lender and must be closed by the stated closing date) " Possession The Purchaser will receive possession at closing, subject to the rights of parties in possession and existing leases, if any. (Currently no known leases) " As-Is Sale The Purchaser shall accept the property in an as-is condition with all faults as of the closing date and the Purchaser shall specifically agree that the Seller has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. All real estate, land, buildings and improvements are being sold and purchased "AS-IS" without any warranties or guarantees, and representations as to fitness, use, habitability, merchantability, condition, age, shape, size, quality, quantity, environmental impact, conditions or hazards, condition of wells or subsurface conditions being expressed by sellers or their agents. The property is selling subject to: Anything an accurate survey or personal inspection of the property may reveal, including any existing right-of-way(s), easements or claims to easements. Subject to, any encroachments, rights or claims of parties in possession, restrictive covenants and easements, flood zones, rise and fall of bodies of water, zoning or subdivision regulations, building codes, governmental agency regulations, environmental conditions, lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any. The Purchaser shall have satisfied themselves as to the location and condition of the property and all descriptions thereof before bidding. All restrictive covenants of the Indian Lake Subdivision, which can be found under supporting documents at www.MikeWalkerAuctions.com. All information contained in the brochure and all promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, soils work, perk test, etc., as provided by the Seller and is believed to be correct; however, neither the Seller nor the Auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information. " Soils/Perk Utility Water Information There has not been a soils evaluation on this tract to determine the number of bedrooms. Water is supplied by a well, which is paid for and installed by the new buyer. For additional soils information, contact Ward Pritchard at 731-512-1309 or Ward.Pritchard@tn.gov, with Jackson TN Department of Environment and Conservation / Division of Water " Agency Disclosure Walker Auction & Realty and its representatives are exclusive agents of the Seller and are agents of no other party to this transaction. " Miscellaneous All decisions of the Auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it. " 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, familial status, national origin or physical handicap. " Debt Collection & Interest Charge The bidder agrees to pay all reasonable attorney fees and other costs incurred by Walker Auction & Realty, LLC 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 Walker Auction & Realty, LLC. Any debt collection or dispute proceedings will be heard in Wilson County, Tennessee. " 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 fee. " Age Requirement All bidders/purchasers must be 18 years of age or older. " Bidders Information and Security All registration information the bidder provides to Walker Auction & Realty LLC shall be current, complete and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. Bidders must notify Walker Auction & Realty LLC if they believe that their bidder number and password have been compromised. 615-308-9009. Under no circumstances shall Bidder have any kind of claim against Walker Auction & Realty LLC , or anyone else if the internet service fails to work correctly before or during the auction. Bidder agrees that by registering for the online auction, they have accepted all of these Terms and Conditions. Bidder is responsible for any and all bids placed by their account. " Before Bidding Potential bidders are encouraged to make their own inspections on specified property preview date and due diligence prior to bidding on the property. " Seller David Campbell Buyer Signature Date Buyer Signature Date Seller Signature Date Seller Signature Date

Premium Lakefront Lot in the private community of Indian Lake, located in Cedar Grove, TN, Carroll County. The lot, 53 Thundercraw Point, is a 1.1 acre lot, located on a large point of the 135 acre private lake. Indian Lake is a private, gated community, with a stocked lake, miles of hiking trails, beautiful views and peaceful tranquility. The lot is located in a cul-de-sac, with mature hardwoods and gentle slope down to the lake. It is in close proximity to the community dock and pavilion area, which is located across the cove. There are currently three lots for sale on Thundercraw Point, ranging in price from 89K - 125K. You can purchase this property at your price. It is selling at Absolute Auction with no reserve. The homes built in this private neighborhood have septic tanks and have wells drilled for their water source. Check out Indian Lake, Cedar Grove TN Facebook page for photos of the fish caught in the lake and the beautiful landscape. Home Owners Association Information Jim Bays / President of HOA 731-418-1582 Janna Friend / HOA Secretary secretary@indianlaketn.us HOA dues are