TERMS & CONDITIONS FOR THIS AUCTION: 1. Terms and Conditions (a) Purchaser(s) agrees to purchase property in “AS IS” condition. Any inspections or property research prior to bidding is the responsibility of the purchaser. The Auction Company only relays information of common knowledge and that given by the Seller. The Auction Company cannot deem that information as factual. (b) Purchaser(s) agree to pay a sum of 10 PERCENT deposit at time of purchase in cash, certified funds, bank letter of credit, or approved check. The remaining 90% is due on or about thirty (30) days at closing. If Purchaser defaults by either (1) volunteering to withdraw from this contract, (2) cannot secure financing within the 30 day period, (3) allows the thirty (30) days to lapse, or (4) for any reason does not complete the purchase transaction within the 30 Day Period; the Purchasers’ Deposit will be forfeited. (c) Seller shall pay any real estate transfer or excise tax and the cost of deed preparation. Property Taxes for the current year, any deferred ad valorem taxes due as a result of the closing (except deferred taxes for prior years, which are the seller’s sole responsibility) and Owners Association Dues or other like charges shall be prorated on a calendar year bases as of the date of closing. The Buyer is responsible for all other expenses in connection with Buyer’s purchase of the property, including, but not limited too, the expense of any survey ordered for the benefit of the buyer, compensation of the closing agent, recording fees or preparation fees for any other documents. (d) Earnest Money. Unless otherwise provided, earnest money deposits paid toward the purchase price shall be held by Weese Auction Company, Inc, in escrow with SKYLINE Bank & Trust (BB&T) in Wytheville VA, until the consummation or termination of the transaction. Any earnest money forfeited by reason of the Buyer’s default under the “Agreement to Purchase Real Estate at Auction” will be divided as follows: (a) Weese Auction Company, Inc. will be paid the full commission earned and advertising cost (if paid by auction agent), (b) then, the seller will be awarded any proceeds remaining. THIS PROPERTY IS SOLD BASED UPON OWNERS COMFORMATION.