TERMS OF SALE: Deposit will be required of $25,000 in cash or cashier’s check, made out to Litten & Sipe, LLP, at the time of sale. Balance of the purchase price will be due at settlement. The Special Commissioners may, at their discretion, require any prospective bidders to display their checks prior to permitting them to bid. This property is SOLD AS-IS and will be conveyed by Special Warranty Deed. Portions of the Property are rented to commercial tenants. Sale is subject to approval of the Circuit Court of Rockingham County. Assuming the high bid is approved by the Circuit Court, Settlement shall be held within 30 days after the entry of the Order Approving Sale, unless otherwise postponed at the sole discretion of the Special Commissioners. Time shall be of the essence with respect to Settlement. The deposit shall be applied to the credit of successful bidder at settlement; or, in the event of failure to complete settlement within the time set forth after the date of sale, the deposit shall be forfeited and applied to costs of sale, including Special Commissioners’ fee, and the property shall be resold at the cost and expense of the defaulting Purchaser. Current real estate property taxes will be prorated at closing. Purchaser is responsible for obtaining possession of the Property. The high bidder will be required to sign a memorandum of sale memorializing the amount of the bid and other terms of sale.