Terms and Conditions of SEALED BID AUCTION Written Sealed Bids must be submitted on the SEALED BID FORM found on our website. Please mail or deliver your SEALED BID FORM to Theurer Auction/Realty, 1101 East 16th Street, Wellington, Kansas, 67152 or Email to cmccomb@theurer.net . Bid forms must include bidder’s name, address, phone number, email, and bid amount per lot. Sealed Bids are due no later than WEDNESDAY, DECEMBER 18, 2019, 12:00 PM! It is the Bidder’s sole responsibility to ensure that their SEALED BID FORM is received by Theurer Auction/ Realty LLC before the auction closes. No verbal bids will be accepted. REVIEW SEALED BIDS: All sealed bids will be opened and reviewed by Theurer Auction/Realty, LLC and Seller. At the time of acceptable offer, Seller and Buyer will immediately enter into a Purchase Contract (on the real estate). If no acceptable offers have been made, the top three bidders will be notified to submit their best and final offer. Seller reserves the right to accept or reject any bid / offer or to waive any technicalities and defects in a SEALED BID FORM. BIDDER PARTICIPATION: By submitting a sealed bid to purchase either Lot, Bidder agrees to participate and be bound by the Terms and Conditions. A 10% Buyer’s Premium will be added to the accepted bid to arrive at the Sales Price. AWARD OF CONTRACT: At the conclusion of the sealed bid process, Theurer Auction/Realty, LLC and Seller may award the sale of the property to the accepted bidder(s). In the event of a tied bid, Theurer Auction/Realty LLC will ask the tied bidders to submit a final and best offer to break the tie bid. At the time of the acceptable offer, Seller and Buyer will immediately enter into a Purchase Contract. The Buyer of the Real Estate (Lot 1) will have two business days after receipt of the Purchase Contract to execute and return the Contract along with 10% Non-refundable Earnest Deposit (Payable to Pfalzgraf & Dierking Title Insurance Co LLC). Closing shall occur within 30 days of contract signing. Seller and Buyer shall share equally in the cost of title insurance and escrow closing fee. Your purchase is NOT CONTINGENT on financing, appraisal, inspections, etc. TIME IS OF THE ESSENCE. The Buyer of the anhydrous tank (Lot 2) shall pay the purchase price within 48 hours of being notified of their bid being accepted. Payment shall be by approved Personal/Business Check or Cashier’s Check made payable to Theurer Auction/Realty LLC. Removal of the tank shall be no later than May 1, 2020. CONTINGENCIES: The Real Estate is being sold AS IS, WHERE IS with all fault, if any. No warranty as to condition or suitability for any purpose is expressed or implied. Buyer shall rely solely on their own information, judgment and inspection of the property and records. Property is being sold with no contingencies (Inspections, Appraisals, Financing, etc). BIDDING ELIGIBILITY: All persons submitting a bid must be at least 18 years of age or older and have full authority to bid either solely or as a representative of the bidding entity. Anyone submitting a bid acknowledges they are making a legal and binding offer to purchase the subject property(ies) and agree to be bound by the Terms and Conditions as set herein. Theurer Auction/Realty LLC and their Agents are exclusive representatives of the Seller; Buyer is unrepresented. The terms and covenants of the purchase agreement, including these additional terms, shall survive closing and shall bind and the benefits shall inure to the heirs, successors, representative and assigns of the Parties. The auctioneer reserves the right to add or remove items form the auction; split or combine lots; add minimum bids or reserve prices; cancel, suspend, extend or reschedule an individual item or auction event. The auctioneer reserves the right to make changes to the auction closing times or inspection or removal times. Your use of this site and bid placement constitutes your acceptance and agreement to adhere to these terms. Please print a copy for your records. All bidders are responsible for reading all terms and conditions carefully. Lack of knowledge of Auction Terms and Conditions will not release bidders from their obligations. LEGAL COURSES OF ACTION: Bids are a binding offer to enter a contract and you are responsible for honoring them. Every legal remedy available will be used to ensure buyer's performance of this contract. Buyer accepts responsibility for and agrees for buyer and all of buyer's agents, representatives, successors and assigns to indemnify, defend and hold harmless sellers & Theurer Auction/Realty LLC, its employees, governing body, officers, owners, affiliates, subsidiaries, directors, agents, and representatives from and against any and all claims, losses, damages, liabilities, judgments, fees, costs, and expenses including reasonable attorneys' fees and expenses related to, arising from, or associated with (1) the sale of the property, including, but not limited to, personal injuries or property damage incurred on the sale premises or during removal and transport of any auction item, (2) buyer's use of Theurer Auction/Realty LLC website and (3) a dispute with another bidder. Seller agrees to hold harmless the Auctioneers against any claims of the nature referred to in this contract. Venue for any controversy or claim arising from or relating to this agreement, or breach thereof, shall lie exclusively with District Court of Sumner County, Kansas. This agreement shall be interpreted in accordance with, and governed by, the laws of the State of Kansas. Theurer Auction/Realty LLC reserves the right to revise The Terms and Conditions.

SEALED BID AUCTION! Sealed Bid Form available on our website