| REAL ESTATE TERMS AND CONDITIONS
BLUE SKY AUCTIONS, LLC
KELLY HOGUE, AUCTIONEER
REGISTRATION: In order to obtain a bidder’s number, you must present a valid driver’s license and a cashier’s check in the amount of $5,000.000. (We do not take these up, you simply show the certified funds to register to bid.) This cashier's check will be made payable to yourself. If you are the successful bidder, you will simply sign it over to the auction company and we in turn sign it over to the closing attorney to be held as earnest money in escrow until closing. If you are not the high bidder, the cashier's check is in your name and your possession to do with as you will. We receive this question often and it is important that you understand that it does not cost money to register to bid, the cashier's check will stay in your possession and you only need to show it at registration in order it to register to bid.
REAL ESTATE TERMS: The high bidder will be required to place a non-refundable bid deposit of $5,000.00, which will be held as earnest money in escrow until closing and will then be credited to the buyer as part of the purchase price of the property. The successful bidder must sign the real estate contract immediately upon conclusion of the bidding with the closing to take place within 30 days from the date of the auction. The entire purchase price must be paid by cashier’s check or certified check, or wired funds at closing. No purchase shall be contingent on financing or any other contingencies. Buyer is entitled to and the seller will provide a deed marketable title for property upon full payment without which Buyer may cancel this Contract and receivea refund of its deposit and earnest money. Seller and Buyer jointly and severally agree to defend, indemnify and hold harmless Blue Sky Auctions, LLC from any action, loss or damage resulting from any dispute over the condition of the Property or the suitability of the Property for any particular purpose. All property not advertised or announced to be "absolute" is sold subject to seller confirmation.
CRP CONTRACT: Parcels (#7, # 8 and #9) are under a CRP Contract No. 268 which has been amended so that the termination date is September, 30, 2013. The Buyer(s) herein agree(s) to comply with all terms and conditions of the CRP Contract and further agree(s) to defend, indemnify and hold Seller harmless from any fine, refund, penalty or adverse condition resulting from Buyer or Buyer's successors and assigns failure to comply with the terms and conditions of said CRP Contract.
TEMPORARY WATER EASEMENT: Buyer(s) understand that on parcels #7 and #8, Seller shall reserve a fifteen (15') wide temporary water easement. At such time as Seller has acquired a satisfactory permanent water supply from Merchant Road,this temporary easement shall automatically terminated without further action of any party. The reservation shall be more fully set forth in the deed of conveyance contemplated herein. Seller makes no representations or warranty as to the availability of water to the Property which is the subject of this Contract.
MINIMUM LOT SIZE: The deed contemplated herein shall contain a covenant setting forth that no residence shall be constructed on a parcel of land containing less than five (5) acres. This covenant shall run with the land and burden the title thereto and bind the successors in title for the benefit of the Seller herein for a period of sixty (60) years. The covenant to be set forth in the deed shall contain enforcement provisions and other language particularly associated with a covenant of this nature.
CONDITION OF PROPERTY: Property is sold "AS IS, WHERE IS" condition and neither Kelly Hogue, auctioneer of Blue Sky Auctions, LLC, the sellers, nor their representatives, agents, or employees make express or implied warranties or representations of any kind.
QUESTIONS: Questions will be entertained only prior to the commencement of the Auction proceedings. Please see a bid assistant for questions during the sale itself. If any dispute arises between or among bidders, the decision of the Auctioneer shall be final and absolute.
BUYER’S PREMIUM: A buyer’s premium of 10% will be added to the high bid to determine the total price for the real estate.
DISCLAIMER: Announcements made at the auction supersede all printed material or any oral statements made by anyone employed by, representing, or associated with Blue Sky Auctions, LLC. All information included herein was derived from sources believed to be correct, but is not guaranteed.