AUCTION TERMS AND CONDITIONS Real Estate Auction Saturday July 22, 2017 12:00 PM Registration from 9:00 am on day of auction Auction will be conducted on-site at 369 West Elkhorn Road, Salmon, Idaho 8347 Property Inspection and Open House Saturday July 15th, Thursday July 20th, and Friday July 21st, 2017 from 1 – 4:00 PM or by Special Appointment. CONDITIONS OF AUCTION: You must be registered to bid. A $5,000.00 (five thousand dollar) non-refundable deposit will be required from the winning bidder upon the conclusion of the auction. Deposit(s) must be in the form of cashiers check, or pre-approved check. A 10% Buyers Premium will be added to the winning bid to determine final contract price. Phone Bidders and Internet Bidders welcome, but must be pre-registered with required $5,000 deposit amounts held in bidder escrow, either with the Auction Company or Broker. contact Auction Company at 208-940-1527 or visit our web page at www.openbucke.com for bidder deposit instructions by bank wire transfer. Closing to be within 30 days from date of auction. Both Seller and Auction Company must approve any closing extension. Acreage and sq. footage is approximate and not guaranteed. Property and tax parcel information detailed in the Property Information Packets has been obtained from Seller, County assessor’s office and local Title Company. Information is believed to be reliable but must be verified by you the buyer. Phone and Internet Bidders welcome, but must be pre-registered with required $5,000 deposit made by bank wire transfer. Bidder deposits will be held in escrow, either with the Auction Company, Broker or local Title Company. Phone and Internet Bidders go to www.openbuckle.com for deposit instructions, Auction Terms & Conditions and details. Buyers may contact their Broker or real estate agent to represent them on the purchase of this property. For additional Auction information contact John J. Nelson, Auctioneer 208-940-1527, e-mail jknelson@custertel.net , or listing agent, George Harkrader Mountain West Real Estate, 208-940-0097, georgeharkrader@mtnwestrealestate.com, Ester England, Broker, or your local real estate agent. Broker participation welcome and encouraged. Equal housing opportunity. Open Buckle Auction Service is working in association with Mountain West Real Estate, Ester England, Broker. You are urged to thoroughly inspect the property and complete your own due diligence before the auction. RESTRICTIONS: Subject to all City, County and State laws, ordinances and regulations and any easements encumbrances and restrictions applicable to the property. Seller is placing no restrictions on the property. Purchase and sale agreement: Will be completed at the close of the auction. REAL ESTATE BROKERAGE SERVICES DISCLOSURE: Open Buckle Auction Service is the Auction Company in this transaction and is representing the Seller. Auctioneer John J. Nelson, Open Buckle Auction Service is working in association with Mountain West Real Estate SPECIAL NOTES: All announcements by auctioneer take precedence over any and all printed advertising. All property is being sold “As-Is, Where-Is” with no warranty written or implied by Open Buckle Auction Service SPECIAL INSTRUCTIONS: Any special instructions must be written on sales contract on day of auction. CLOSING COSTS: Closing costs will be split by buyer and seller, except title insurance, which will be paid by the Seller. CLOSING LOCATION: To be decided by Buyer TITLE INSURANCE: Title insurance will be paid by the Seller. Any extended policy difference will be paid for by Buyer. TAXES: Taxes will be prorated to the day of closing. Buyer’s Premium: A 10% Buyer’s Premium will be added to your final bid to determine the Final Contract Price on Real Estate and no Buyers Premium on Personal Property. TERMS: Deposits on day of auction must be in Cashiers check or pre-approved personal or business check, balance due at closing within 30 days of Auction date, unless other arrangements are approved by Auction Company and Seller. This transaction is not contingent on the Purchaser obtaining financing or upon any other event as specifically referred to in these Terms and Conditions. Liquidated damages: If Buyer chooses not to close within the stated time herein and no extension has been granted by the Seller, the Buyer will forfeit all of the deposit. If such action occurs, Open Buckle Auction Service 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 Seller, labor cost and additional cost of auction as not defined in this agreement. These liquidated damages do not restrict the Seller from suing the Buyer for performance damages and/or any additional damages the Seller suffers by the default of the Buyer. BACK UP BIDS: If you are not the successful bidder on the real estate today and wish to make a back up bid in case of default by the high bidder, please see our staff Sales Agent to fill out a back up bidder contract. ESCROW: All monies collected on sale day will be placed in an escrow account. Closing proceeds will be transferred to the escrow account of the closing agent as listed herein prior to closing. POSSESSION: Purchaser shall receive possession on day of closing. Closing date and move out day on home to be by mutual agreement between Buyer and Seller. Absolute Auction: Property sells to the highest bidder regardless of price, High Bidder wins. 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 Seller, the Auctioneers or any other person or entity. Personal on-site inspection of all property by potential bidders is strongly recommended. All sales are subject to the terms and conditions 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, right-of-ways, CC&R’s 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. Open Buckle Auction Service is an agent of the Seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the Seller). For additional Auction or Real Estate information contact: Auctioneer: John J. Nelson Open Buckle Auction Service 13 Miller Lane Salmon, Idaho 83467 208-940-1527 jknelson@custertel.net www.openbuckle.com Real Estate Listing Agent: George Harkrader Mountain West Real Estate 208-940-0097 georgeharkrader@mtnwestrealestate.com