ONLINE AUCTION TERMS

Minerals: All mineral interests owned by the Seller, if any, will be conveyed to the Buyer(s)

Taxes: Real estate taxes will be prorated at closing.

Conditions: This sale is subject to all easements, covenants, restrictions of record, and leases. Each Bidder is responsible for conducting, at their own risk, their own inspections, inquiries, and due diligence concerning the property. All property is sold on an “AS IS-WHERE IS” basis with no warranties or guarantees, either expressed or implied, by the Seller or Farmers National Company.

Possession: Possession will be granted at closing on February 26, 2021 or such other date agreed to buy the parties.

Earnest Payment: A 10% earnest money payment is required with the signed purchase agreement. The payment may be in the form of cashier’s check, personal check, company check, or wired funds. All funds will be deposited and held by the Wilcox Law Office, the closing agent.

Contract and Title: The high bidder(s) will enter into a real estate contract and deposit with Wilcox Law Office the required earnest payment. The cost of any title insurance will be paid by both the Seller(s) and Buyer(s). The cost of any escrow closing services will be paid by both the Seller(s) and Buyer(s). Sale is not contingent upon Buyer(s) financing.

Closing: The sale closing is on February 26, 2021, or such other date agreed to by the parties. The balance of the purchase price will be payable at closing in guaranteed funds or by wire transfer at the discretion of the Wilcox Law Office, the closing agent.

Sale Method: The real estate will be offered as a total unit. All bids are open for advancement starting Monday, January 18, 2021 at 9:00 AM until Wednesday, January 20, 2021 at 1:00 PM, subject to the automatic bid extend feature outlined in these terms and conditions. Auctions
are timed events and subject to extended bidding due to bidding activity. Any bid placed within five minutes of the auction ending will automatically extend the auction for five minutes from the time the bid is placed. The auto-extend feature remains active until no further bids are placed within the five minutes time frame. All decisions of Farmers
National Company are final.

Approval of Bids: Final sale is subject to the Seller’s approval or rejection.

Agency: Farmers National Company and its representatives are acting as Agents of the Seller.

Announcements: Information provided herein was obtained from sources deemed reliable, but neither Farmers National Company nor the Seller makes any guarantees or warranties as to its accuracy. All potential bidders are urged to inspect the property, its condition, and to rely on their own conclusions. All sketches, dimensions, and acreage
figures are approximate or “more or less”. Farmers National Company and Seller reserve the right to preclude any person from bidding if there is any question as to the person’s credentials or fitness to bid.

Online Bidding Procedure: All bids on the tract will be visible online, but the identity of bidders is confidential. See auction terms and conditions for minimum bid requirements and details. 

Server and Software Technical Issues: In the event there are technical difficulties related to the server, software, or any other online auction-related technologies, Farmers National Company reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software nor Farmers National Company shall be held responsible for a missed bid or the failure of the software to function properly for any reason.  Email notification will be sent to registered bidders with updated information as deemed necessary by Farmers National Company.