TERMS OF SALE for PUBLIC AUCTION of 1411 US 35 North, Logansport, IN 46947 Commercial Property. Sale Date: Thursday, July 16, 2020, 3PM SALE LOCATION: Will be held at the River View Restaurant, 230 Eel River Ave., Logansport, IN 46947 Registration & Q & A session: 1 PM, day of auction. The following are the terms of sale that will govern the sale at Public Auction of the property located at 1411 US 35 North, Logansport, Indiana, 46947 on Thursday, July 16, 2020. Any and all prospective Bidders are required to read these terms and conditions and acknowledge that they will be bound by them in this Public Auction. Registration will commence at 1 PM, July 16th at the River View Restaurant and auction will start at 3 PM and continue until completed. Any and all questions MUST be asked prior to Bidding at this auction, once a Bid is accepted by the Seller the Bidder will be bound by these Terms and Conditions of Sale, including all terms and conditions contained in documents provided. 1. To register as a Bidder at the auction: LIVE: Bidder will be required to present receptionist a cashier's check in the amount of $10,000.00 as a Bidder's Deposit to receive a Bidder's Number. It is suggested that the check be made payable in the Bidder's name. If the Bidder secures the winning bid he/she can endorse the check over to the Seller. If the Bidder does not win the Bid then the check will be returned to them and the Bidder can redeposit the cashier's check into their bank account. Bidder when registering will be required to sign this Terms of Sale for this auction prior to Bidding. ONLINE: Bidder will be required to supply credit card information in order to bid at auction. If the online Bidder wins the bid the Credit Card that was entered can be charged the $10,000.00 Bidder's Deposit. The Bidder is responsible to ensuring that the Credit Card entered has a sufficient credit line to cover Bidder's Deposit. If the Online Bidder does not win the bid then there will be no deposit charges. These Terms of Sale will be included in the Terms of Sale for the Auction posted online and must be accepted by Bidder when registering. 2. Earnest Money Deposit by Winning Bidder: LIVE: The Winning Bidder will be required to deposit with the Seller of the Property an Earnest Money Deposit in the amount of 10% of the total Selling Price of the property. Selling Price of the property is defined as Final Bid plus 10% Buyer's Premium. As an example if the Final Bid is $120,000.00 then the Earnest Money Deposit for the property will be $120,000.00 plus $12,000.00 (10% Buyer's Premium) for a total Selling Price of $132,000.00. Ten Percent of $132,000.00 is $13,200.00. The Earnest Money Deposit will be $13,200.00. Bidder may use the $10,000 Bidder's Deposit and apply that towards the Earnest Money Deposit. The Earnest Money Deposit may be paid by Cash and Check. If the Earnest Money Deposit is paid by Check the Bidder must present a Bank Letter of Guarantee upon registration showing that the Bank will honor and guarantee the check up to and including the amount written to cover the Earnest Money Deposit. The Bank's Letter of Guarantee MUST include the wording that the bank will "Honor and guarantee check up to "_______" number of dollars" (A Sample Bank Letter of Guarantee link is below the picture when you open up Lot 1 or send e-mail to info@clofa.net). ONLINE: The Winning Bidder will be required to deposit with the Seller of the Property an Earnest Money Deposit in the amount of 10% of the total Selling Price of the property. Selling Price of the property is defined as Final Bid plus 10% Buyer's Premium. As an example if the Final Bid is $120,000.00 then the Earnest Money Deposit for the property will be $120,000.00 plus $12,000.00 (10% Buyer's Premium) for a total Selling Price of $132,000.00. Ten Percent of $132,000.00 is $13,200.00. The Earnest Money Deposit will be $13,200.00. The credit card entered by Bidder when registering for the auction may be charged for the full amount of the Earnest Money Deposit. It is the responsibility of the Bidder to ensure that the credit limit of the credit card is sufficient to cover Earnest Money Deposit. If a credit card is used a 3% processing fee will be charged. The Bidder may, at the discretion of the Seller, wire transfer funds to Seller to cover Earnest Money Deposit (if funds are wire transferred the credit card processing fee is waived). Arrangements for a wire transfer should be made with Seller prior to bidding at auction. In all cases wire transfer MUST be completed within 1 business day after auction. 3. Purchase Agreement: Winning Bidder will be required to sign Real Estate Purchase Agreement Purchase at Public Auction immediately after conclusion of auction. Winning Online Bidder, will be bound by the Terms of Sale Online Bidder accepted when registering for auction. After closing of auction, Winning Online Bidder will be emailed a completed Real Estate Purchase Agreement Purchase at Public Auction which the Winning Bidder will sign, scan and return to Seller. 4. Default by Winning Bidder or Winning Online Bidder on Purchase Agreement: Should Winning Bidder/ Online Winning Bidder not close the purchase of this property Winning Bidder/ Online Winning Bidder will forfeit entire Earnest Money Deposit to Seller. Seller shall also have the right of Specific Performance. Should Winning Bidder/ Online Winning Bidder not close the purchase of this real estate, if for any reason other than failure of Seller to perform any of Seller's Responsibilities and Duties outlined in the Purchase Agreement Purchase at Public Auction, Seller shall be entitled to Any and All expenses, costs, fees, court costs and attorney's fees incurred by Seller in pursuing Specific Performance or in remarketing subject property for re-sale. 5. Property Information provided to Purchaser: The following information has been provided to the Registered Bidder's: a. Real Estate Purchase Agreement at Public Auction for property, 1411 US 35 North, Logansport Indiana 46947 b. Terms of Sale governing sale of subject property, 1411 US 35 North, Logansport Indiana 46947 c. Copy of preliminary ALTA Commitment of Title Insurance prepared by First American Title Insurance Company.. d. Copy of Phase One Environmental Survey conducted by Patriot Engineering and completed on July 10, 2020. Acknowledgement of receipt and acceptance of Terms of Sale for property located at 1411 US 35 North, Logansport, IN 46947.

PUBLIC AUCTION THURSDAY, JULY 16!!! ******* Real Estate will be sold online and live. Auction will be held at the River View Restaurant, 230 Eel River Ave, Logansport, IN 46947. We will be there at 1 PM, Thursday, July 16 for Q & A before the auction begins at 3 PM. ******* 16 +/- ACRES PRIME COMMERCIAL DEVELOPMENT PROPERTY. 1411 NORTH US 35, LOGANSPORT, INDIANA 46947. CLICK AND OPEN LOT 1 TO SEE THE LINKS FOR THE AUCTION BIDDER INFORMATION ********** ZONED B-1. THIS PROPERTY HAS CITY COMMERCIAL ELECTRIC AND GAS UTILITIES. PROPERTY IS SERVICED BY HIGH VOLUME WELL. PROPERTY HAS (2) SEPTIC FIELDS, ONE FIELD WAS RECENTLY IMPROVED TO HANDLE FUTURE HIGH DENSITY DEVELOPMENT. INCLUDES VERY LARGE 4-FACED ROAD SIGN, LARGE EGRESS AND INGRESS POINTS ALONG US 35. DEVELOPMENT PARTNERSHIPS AVAILABLE. OFFERS TO PURCHASE WILL BE ACCEPTED PRIOR TO AUCTION. *** Open Lot 1 and you will see the links below for auction bidder information or SEND AN EMAIL TO INFO@CLOFA.NET FOR BIDDERS PACKETS, OR CALL 317-632-8040 FOR INFO.