REAL ESTATE AUCTION TERMS 1884 Hwy 278 E Monticello, AR 71655 To be sold in 2 tracts or the aggregate Tract 1: House, shop and 1.73 acres Tract 2: Approx 34 acres (w $66,500 marketable timber as per Oct. 2018 timber cruise). Summary of Real Estate Auction Terms: The property sells with clear title, "as is", by legal description as per the new survey completed by Burke Surveying LLC Sept. 26, 2018. Seller to provide Warranty Deed and title insurance. Property will sell subject to Sellers approval of final bid. 10% buyer premium. $5000 down as earnest money on day of auction, balance due at closing in 30 - 45 days. Announcements made auction day take precedence over any previous oral or printed announcements. Terms: 1. Property sells "as is" with no warranties from the seller other than good title. Inspections should be conducted before the auction. If you bid, you are agreeing that you are satisfied with the Property in its current condition at the price you bid. 2. Financing: Property sells with no contingencies for financing, and no financing is offered by the seller. Financing should be arranged before bidding. If you cannot pay the balance at closing, you will lose your down payment/earnest money. 3. Survey: a recent survey paid for by seller, was completed by Burke Surveying LLC on Sept 26, 2018 4. Title: Seller will guarantee good title at closing by providing Owner's Title Insurance and a Warranty Deed free of all liens and encumbrances but subject to any easements of record. 5. Buyer Premium: A 10% buyer premium will be added to the final bid price to determine the contract price. Example: $60,000 bid price + (10%) $6000 = $66,000 contract price 6. Contract: At the conclusion of the auction, the high bidder will immediately sign a purchase agreement for their bid plus the 10% buyer premium. Seller will have up to 48 hrs to accept or reject the bid. When accepted and signed by the seller, this agreement becomes the purchase contract. 7. Down Payment/Earnest Money: With purchase agreement, Bidder will submit $5000 in the form of cash, cashier's check or good personal or Company check to be deposited and escrowed in Orrell Auctions& Real Estate PLLC's Trust Account. Balance of purchase price required in approximately 30 -45 days at closing. Down payment will be credited to buyer at closing. If you cannot close you will forfeit your down payment. 8. Closing & Costs: Closing will be in approximately 30 - 45 days from auction. Seller pays 1/2 closing fee, 1/2 Revenue Stamps, Owner's Policy of Title Insurance, deed preparation. Buyer pays 1/2 closing fee, 1/2 Revenue Stamps, deed recording fee and any other expenses generated by Buyer, including, but not limited to, Loan Policy of Title Insurance, hazard insurance premiums, survey, Buyer's attorney fees, and any other fees associated with Buyer's loan, if any. 9. Property taxes will be prorated as of the date of closing. Orrell Auctions & Real Estaste PLLC - 870-723-9116

To be offered in 2 tracts and the aggregate Tract 1: House and 1.75 acres Tract 2: Remaining 33.88 acres Located approx 1 mile east of the intersection of Hwy 278/35 and Airport Rd east of Monticello. 35 + acres with mostly hardwood and some pine. Marketable timber valued at $66,528 as per timber cruise conducted Oct 2018 by Les Reid. The property has good drainage although, the front and back of the property lie in the FEMA flood plain. There is a 1450 sq ft w single carport, 2 bedroom 1 bath wood frame house w/ open pier foundation built in 1960 w/ shingle roof, window air & gas heat. House needs some repair but is livable now. There is also an additional septic tank and meter pole where there was once a mobile home as well as a 20x26 wood frame shop building w/ 12x26 side shed that housed a transmission shop. Sale includes the house, shop and 1.73 acres and/or 33.88 acres. A new survey was conducted in Sept 2018 by Burke Surveying. A copy of the survey, timber cruise and full Terms of Auction is available on site from a "Take One" box on the front side of the house, or by text or email. Terms: 10% buyer premium, $5000 down day of auction, balance due in approx. 30 - 45 days. Viewing: The property is well marked, You may view the property at your leisure, preferably middle of day rather than early or late as there are hunters in the area. Wear orange to be safe. Or by appointment for a personal showing, call Jimmy Orrell 870-723-9116. Orrell Auctions & Real Estate PLLC Jimmy Orrell, Auctioneer/Broker 870-723-9116 AALB#1947