***WATERFRONT ESTATE AUCTION - PINE LAKE ESTATES LEXINGTON TN***

LIBERTY AUCTION &amp; REALTY<br>
REAL ESTATE AUCTION TERMS AND CONDITIONS<br>
265 SUNNYSIDE DRIVE<br>
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1. A 10% BUYERS PREMIUM WILL BE ADDED TO THE FINAL BID TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE FOR REAL ESTATE AND PERSONAL PROPERTY.<br>
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2. PROPERTY IS SELLING WITH “OWNER’S CONFIRMATION” BY WHICH TERM IS MEANT THAT THE OWNER WILL HAVE THE RIGHT TO ACCEPT OR REJECT THE FINAL BID.<br>
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3. TERMS ON REAL ESTATE ARE 20% DOWN THE DAY OF AUCTION; BALANCE DUE WITHIN 45 DAYS UPON DELIVERY OF DEED. PAYABLE BY CASH, CASHIERS CHECK, OR PERSONAL CHECK. TAXES WILL BE PRORATED.. <br>
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4. BUYER IS RESPONSIBLE FOR TITLE SEARCH, IF DESIRED. BUYER IS ALSO RESPONSIBLE FOR STATE TRANSFER TAX, RECORDING OF THE DEED, AND THEIR PORTION OF THE ATTORNEY FEES. <br>
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5. LIBERTY AUCTION &amp; REALTY AND ALL AGENTS WORKING AT THIS AUCTION ARE ACTING AS AN AGENT FOR THE SELLERS.<br>
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6. ANY REAL ESTATE TERMS AND INFORMATION SUPPLIED IN THE TERMS AND CONDITIONS CONCERNING TAX AMOUNTS AND OTHER INFORMATION ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASER’S SOLE RESPONSIBILITY TO HAVE COMPLETED THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION, AND SHALL BID ACCORDING TO THEIR DUE DILIGENT SURVEY <br>
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7. NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR. THERE IS NO CONTINGENCY IN THE CONTRACT SUBJECT TO THE PURCHASER OBTAINING LONG TERM FINANCING.<br>
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8. FAILURE TO PAY THE BALANCE DUE WILL REQUIRE YOU TO FORFEIT YOUR EARNEST MONEY AND BE SUBJECT TO ALL TERMS STATED IN THE CONTRACT.<br>
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9. ALL PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS.<br>
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10. POSSESSION OF PROPERTY WILL BE GIVEN UPON DELIVERY OF DEED.<br>
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11. PROPERTY AND IMPROVEMENTS ARE BEING SOLD IN THEIR PRESENT CONDITION. NO IMPROVEMENTS WILL BE MADE. THERE ARE NO WARRANTIES OR GUARNANTEES EXPRESSED OR IMPLIED AS TO CONDITION OR FITNESS FOR A PARTICULAR PURPOSE OR PARTICULAR USE.<br>
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12. PURCHASER(S) ARE INFORMED THAT THE SELLERS AND LIBERTY AUCTION &amp; REALTY ARE NOT EXPERTS OR QUALIFIED TO OFFER ANY INFORMATION CONCERNING ENVIRONMENTAL HAZARDS, ASBESTOS HAZARDS, ETC. AND MAKE NO WARRANTY, GUARANTEE, OR STATEMENTS IN CONNECTION WITH SUCH.<br>
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13. AUCTIONEER AND BROKER ARE NOT EXPERTS IN DETERMING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. PURCHASER ACCEPTS THIS PROPERTY IN ITS PRESENT CONDITION, AGREES TO HOLD HARMLESS THE BROKER, HIS AGENTS, AND LIBERTY AUCTION &amp; REALTY FROM ANY ENVIRONMENTAL HAZARDS AND THE COST TO DEFEND HIMSELF, HIS AGENTS, OR LIBERTY AUCTION &amp; REALTY FROM ANY CLAIMS.<br>
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14. PURCHASER HAS HAD THE OPPORTUNITY TO INSPECT THIS PROPERTY AND WILL MAKE ALL BIDS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.<br>
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15. ALL PROPERTIES SOLD BY CURRENT DEEDED DESCRIPTIONS.<br>
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16. PURCHASER(S) SHALL BE RESPONSIBLE FOR THEIR OWN LIABILITY INSURANCE AND CASUALTY INSURANCE FOR THEMSELVES AND THEIR EMPLOYEES AND AGREE TO HOLD HARMLESS LIBERTY AUCTION &amp; REALTY AND THEIR SELLERS.<br>
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17. ALL THE BIDS WILL BE SETTLED FROM THE AUCTION STAND BY THE AUCTIONEER AND HIS DECISION WILL BE FINAL. THE AUCTIONEER HAS THE RIGHT TO RE-OPEN THE BIDDING AND PUT THE PROPERTY UP FOR SALE TO ALL BIDDERS.<br>
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18. AUCTIONEER AND AUCTION STAFF RESERVE THE RIGHT TO BID OR EXECUTE ANY ABSENTEE BIDS, PHONE BIDS, OR OTHER BIDS THAT ARE TURNED IN TO THEM.<br>
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19. ALL INFORMATION USED IN THE ADVERTISING AND PROMOTION OF THIS AUCTION HAS BEEN OBTAINED FROM PUBLIC RECORDS AND OTHER SOURCES DEEMED TO BE RELIABLE AND ARE TO BE TRUE AND CORRECT. NO WARRANTIES ARE MADE TO THIS EFFECT.<br>
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20. ALL ANNOUNCEMENTS MADE FROM THE AUCTION STAND WILL TAKE PRECEDENCE OVER ANY PREVIOUS ANNOUNCEMENTS OR STATEMENTS.<br>
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LIBERTY AUCTION &amp; REALTY<br>
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PERSONAL PROPERTY<br>
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GENERAL ON-SITE BIDDING TERMS &amp; CONDITIONS<br>
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• THIS IS AN 'ABSOLUTE' AUCTION BY WHICH TERM IS MEANT THAT THE HIGHEST VALID BID SHALL BE ACCEPTED ON ALL ITEMS.<br>
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• 10% BUYERS PREMIUM WILL BE ADDED TO THE FINAL BID TO REACH THE FINAL PRICE.<br>
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• ALL ITEMS MUST BE PAID IN CASH THE DAY OF AUCTION. <br>
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• ALL ITEMS MUST BE REMOVED THE DAY OF AUCTION. <br>
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1. TERMS OF SALE: <br>
ALL PROPERTY IS SOLD “AS-IS” AND “WHERE IS” AND NEITHER LIBERTY AUCTION &amp; REALTY, THE AUCTIONEER, NOR THE SELLER MAKES ANY EXPRESSED OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL LIBERTY AUCTION &amp; REALTY, THE AUCTIONEER, NOR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE AUCTION OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. LIBERTY AUCTION &amp; REALTY, &amp; THE AUCTIONEER, MAKE NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND OR AS TO THE CONDITION OF THE ITEM.<br>
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2. BUYER’S PREMIUM FOR PERSONAL PROPERTY ON-SITE BIDDING: <br>
A 10% BUYER’S PREMIUM WILL BE ADDED TO THE FINAL BID OF EACH ITEM TO REACH THE TOTAL SALES PRICE FOR ALL ITEMS THAT ARE PAID FOR BY CASH, CASHIER’S CHECK, CERTIFIED FUNDS, OR PERSONAL CHECK.<br>
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3. CONDITION OF EQUPMENT AND ITEMS SOLD: <br>
ALL INFORMATION IS BELIEVED TO BE ACCURATE, BUT NEITHER THE AUCTIONEER NOR THE SELLER SHALL BE RESPONSIBLE FOR THE CORRECT DESCRIPTION, GENUINENESS, AUTHENTICITY OF, OR DEFECT IN ANY LOT, AND MAKES NO WARRANTY IN CONNECTION THEREWITH. NO SALE SHALL BE SET ASIDE NOR ALLOWANCE MADE ON ACCOUNT OF ANY INCORRECTNESS, ERROR IN CATALOGING, OR ANY IMPERFECTION NOT NOTED. NO ADJUSTMENT WILL BE ALLOWED ON DAMAGED ARTICLES, ALL ITEMS ARE AVAILABLE FOR INSPECTION AND SOLD “AS-IS” “WHERE-IS” WITHOUT RECOURSE TO SELLER OR SELLER’S AGENT(S). <br>
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4. PAYMENT: <br>
ALL PURCHASES MUST BE PAID FOR ON SALE DAY. ALL BUYERS AGREE TO PAY FOR THEIR PURCHASES NO LATER THAN THE DAY OF THE AUCTION. ALL PAYMENTS ARE TO BE MADE IN U.S. CURRENCY BY CASH, CASHIER’S BANK CHECK, CERTIFIED BANK CHECK, OR PERSONAL CHECK. PURCHASERS WHO WISH TO PAY BY PERSONAL CHECK MUST BE CLEARED BY LIBERTY AUCTION &amp; REALTY OR BY THE SELLER. ALL PROSPECTIVE BIDDERS ARE REQUIRED TO PRE-REGISTER FOR A BIDDING NUMBER AND GIVE EVIDENCE OF THEIR CREDIT-WORTHINESS. LIBERTY AUCTION &amp; REALTY WILL NOT TOLERATE ANY EXCUSES FOR A CHECK THAT DOES NOT CLEAR. PERSONAL CHECKS ARE ACCEPTED FROM PEOPLE WHO HAVE BEEN APPROVED AND WE EXPECT THESE CHECKS TO CLEAR THE BANK IMMEDIATELY. RETURNED CHECK FEE IS $100.00 AND IF NOT MADE GOOD, WILL BE PROSECUTED TO THE FULLEST EXTENT OF THE LAW.<br>
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5. COMPLIANCE WITH THE TERMS OF SALE:<br>
IN DEFAULT OF PAYMENT OF BILLS IN FULL WITHIN THE TIME ANNOUNCED FOR THIS AUCTION THE AUCTIONEER IN ADDITION TO ALL OTHER REMEDIES ALLOWED BY LAW MAY RETAIN ALL MONIES RECEIVED AS DEPOSIT OR OTHERWISE, AS LIQUIDATED DAMAGES. LOTS NOT PAID FOR WITHIN THE TIME SPECIFIED HEREIN MAY BE RESOLD AT PUBLIC OR PRIVATE SALE WIHOUT FURTHER NOTICE. ANY RESULTING DEFICIENCY TOGETHER WITH ALL EXPENSES AND COSTS OF RE-SALE WILL BE THE RESPONSIBILITY OF THE DEFAULTING PURCHASER. EACH BUYER IN MAKING A BID DOES HEREWITH AGREE TO COMPLY WITH THE TERMS AND CONDITIONS AS HEREIN STATED AND AS OTHERWISE SET FORTH. THE FAILURE OR DEFAULT BY A SUCCESSFUL BUYER TO FULLY COMPLY WITH THE TERMS AND CONDITIONS HEREIN WILL BE TREATED AS AN IMMEDIATE BREACH AND THE DEPOSIT AS MADE RETAINED AND APPLIED TOWARD ANY DEFICIT IN ADDITIONAL COSTS OR CHARGES AS INCURRED TO EFFECT THE RESALE OF THAT PROPERTY AT PRIVATE OR PUBLIC SALE. THERE SHALL BE NO FUTHER NOTICE REQUIRED TO THE BUYERS ONCE A DEFAULT HAS OCCURRED. THE OBLIGATION OF THE BUYER SHALL BE FOR COSTS AS INCURRED, PLUS ANY DEFICIT INCLUDED ARISING FROM THE BUYER’S DEFAULT.<br>
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6. ARTICLES BEING SOLD ARE AVAILABLE FOR INSPECTION, AND SOLD “AS-IS” “WHERE-IS” AND WITHOUT RECOURSE AND WITH NO WARRANTY, GUARANTY AS TO OPERATING CONDITION, PHYSICAL CONDITION OR PARTICULAR FITNESS FOR USE. YOU SHOULD MAKE AN INSPECTION OF THESE ITEMS BEFOREHAND SO THAT YOU ARE SATISFIED WITH THEIR CONDITION. ARTICLES ARE NOT WARRANTED AS MERCHANTABLE OR FIT FOR ANY PARTICULAR PURPOSE OR PARTICULAR USE, AND NO CLAIM MAY BE MADE BY PURCHASER RELATING TO THE CONDITION OR USE OF ARTICLES PURCHASED OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES ARISING THEREFROM.<br>
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7. SAFETY DEVICES: <br>
ARTICLES PURCHASED MAY NOT INCORPORATE APPROVED ACTIVATING MECHANISMS, OPERATING SAFETY DEVICES OR SAFETY GUARDS, AS REQUIRED BY OSHA OR OTHERWISE. IT IS PURCHASER’S RESPONSIBILITY THAT ARTICLES PURCHASED BE SO EQUIPPED AND SAFEGUARDED TO MEET OSHA AND ANY OTHER REQUIREMENTS BEFORE PLACING SUCH ARTICLES INTO OPERATION.<br>
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8. INDEMNIFICATION: <br>
PURCHASER SHALL DEFEND AND INDEMNIFY AND HOLD AUCTIONEER AND SELLER HARMLESS FROM AND AGAINST ALL CLAIMS AND LIABILITIES RELATING TO THE CONDITION OF, REMOVAL OF, OR USE OF THE ARTICLES PURCHASED OR FAILURE<br>
OF USER TO FOLLOW INSTRUCTIONS, WARNINGS OR RECOMMENDATIONS OF THE MANUFACTURER, OR TO COMPLY WITH FEDERAL, STATE, AND LOCAL LAWS APPLICABLE TO SUCH ARTICLES, INCLUDING OSHA REQUIREMENTS, AND ENVIRONMENTAL PROTECTION AGENCY REQUIREMENTS, OR FOR PROXIMATE OR CONSEQUENTIAL DAMAGES, COSTS OR LEGAL EXPENSES ARISING THERE FROM.<br>
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9. THE PURCHASER DOES HEREBY ACKNOWLEDGE THAT THE SUBJECT<br>
PROPERTY IS PURCHASED AT PUBLIC AUCTION AND THAT A PREREQUISITE TO BIDDING IS THAT ALL PROPERTY, WHETHER REAL OR PERSONAL, IS PURCHASED ABSOLUTELY “AS-IS” WITH NO WARRANTY WHATSOEVER AS TO THE CONDITION OF THE SAME.<br>
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10. CONFIRMATION OF PURCHASE: <br>
TITLE TO PERSONAL PROPERTY SHALL PASS TO THE BUYER UPON THE FALL OF THE AUCTIONEER’S HAMMER, SUBJECT TO THE COMPLIANCE BY THE BUYER OF THE CONDITIONS OF SALE. BUYER ASSUMES ALL RESPONSIBILITY FOR THE ITEM OR ITEMS AFTER THE FALL OF THE HAMMER AND SHALL PAY THE TOTAL PURCHASE PRICE. ALL SALES ARE FINAL. LIBERTY AUCTION &amp; REALTY AND THE SELLER DO NOT AND WILL NOT BE RESPONSIBLE FOR OR FURNISH ANY SECURITY FOR SOLD ITEMS. LIBERTY AUCTION &amp; REALTY WILL NOT TOLERATE ANY PILFERING OR TAKING OF ANY ITEM OR THEFT OF ANY ITEM. ANY WRONGDOING WILL BE PROSECUTED TO THE FULLEST EXTENT OF THE LAW.<br>
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11. DISPUTE BETWEEN BIDDERS: <br>
IF ANY DISPUTE ARISES BETWEEN TWO OR MORE BIDDERS, THE AUCTIONEER MAY DECIDE THE SAME OR MAY IMMEDIATLEY PUT THE LOT OR ITEM UP FOR SALE AGAIN, AND RE-SELL TO THE HIGHEST BIDDER. THE DECISION OF THE AUCTIONEER SHALL BE FINAL AND ABSOLUTE.<br>
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12. ADDITION TO OR WITHDRAWAL FROM SALE: <br>
THE AUCTIONEER RESERVES THE RIGHT TO WITHDRAW FROM SALE ANY OF THE ITEMS; TO SELL AT THIS AUCTION ITEMS NOT LISTED; TO GROUP ONE OR MORE LOTS INTO ONE OR MORE SELLING LOTS OR TO SUBDIVIDE INTO TWO OR MORE SELLING LOTS; THE AUCTIONEER ALSO RESERVES THE RIGHT TO SELL ALL OF THE ITEMS IN BULK.<br>
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13. INDEPENDENT CONTRACTOR: <br>
THE AUCTIONEER IS ACTING AS AN INDEPENDENT CONTRACTOR ONLY AND IS NOT RESPONSIBLE FOR THE ACTS OF PRINCIPALS OR SELLERS.<br>
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14. PERSONAL AND PROPERTY RISK: <br>
PERSONS ATTENDING DURING EXHIBITION SALE OR REMOVAL OF GOODS ASSUME ALL RISKS OF DAMAGE OF OR LOSS TO PERSON AND PROPERTY AND SPECIFICALLY RELEASE AND INDEMNIFY LIBERTY AUCTION &amp; REALTY, THE AUCTIONEER FROM LIABILITY THEREFORE. NEITHER LIBERTY AUCTION &amp; REALTY, THE AUCTIONEER NOR HIS PRINCIPAL, OR SELLER SHALL BE LIABLE BY REASON OF ANY DEFECT IN OR CONDITION OF THE PREMISES IN WHICH THE SALE IS HELD.<br>
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15. RECORDS: <br>
THE RECORD OF SALE KEPT BY LIBERTY AUCTION &amp; REALTY, THE AUCTIONEER AND BOOKKEEPER WILL BE TAKEN AS FINAL IN THE EVENT OF ANY DISPUTE.<br>
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16. NOMIMAL BIDS: <br>
ANY BID WHICH IS MERELY A NOMINAL OR FRACTIONAL ADVANCE MAY BE REJECTED BY THE AUCTIONEER, IF IN HIS JUDGMENT IT MAY AFFECT THE SALE<br>
NEGATIVELY.<br>
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17. ADDITIONAL TERMS AND CONDITIONS: <br>
ADDITIONAL TERMS OR CONDITIONS OF SALE MAY BE ADDED BY AUCTIONEER BY ANNOUNCEMENT OR POSTED ON THE PREMISES PRIOR TO THE AUCTION. ALL ANNOUNCEMENTS MADE FROM THE AUCTION STAND WILL TAKE PRECEDENCE OVER ANY PREVIOUS ANNOUNCEMENTS OR STATEMENTS.<br>
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18. ANY INDIVIDUAL HERE HAS THE RIGHT TO BID, INCLUDING THE AUCTIONEER, ANYONE ATTENDING THIS AUCTION OR ANYONE WORKING IN THIS<br>
AUCTION.<br>
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19. LIBERTY AUCTION &amp; REALTY WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS FROM ANY SOURCE.<br>
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20. THE SALE OF THE ITEM WILL NOT BE FINALIZED UNTIL THE FALL OF THE HAMMER AT THE LIVE AUCTION.<br>
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21. ALL ON-SITE BUYERS ACKNOWLEDGE AND ACCEPT THESE TERMS AND CONDITIONS PROVIDED AT TIME OF REGISTRATION BY REGISTERING FOR A NUMBER.