Auction Terms: McDaniel Auctions, LLC. works with and on behalf of West Tennessee Realty Firm in all Real Estate Sales. Firm Office Phone: 731-535-3339 Firm Address: 19456 W Main Street, Huntingdon, TN 38344 Real Estate: 10% Buyer’s premium will be added to final bid price to achieve overall sale. 10% down within 24 hours of auction end. Balance due on or before 30 days of Auction End. Regardless of post auction inspections or contingency. Bidders are encouraged to view and inspect property prior to bidding. Property Descriptions are believed to be accurate but are not guaranteed. Bidders are encouraged to verify information for themselves before bidding. All Real Estate is sold with and on behalf of West Tennessee Realty. Personal Property: 15% Buyer’s premium will be added to final bid price to achieve overall sales price. Each Auction has a specific pick-up date, time, and location. Although these will change with each auction the pick-up date, time and location will be stated when auction begins. With acceptance of these terms, and/or by bidding, bidders agree to pay for and pick-up won items during the stated and specific time period. If it is known that you may not be able to make it to the stated pickup bidders should not bid on items until contacting McDaniel Auctions to check about shipping or other arrangements. Winning bidders that do not pick-up items by the end of stated pick-up date and time, McDaniel Auctions reserve the right to charge your card for your items purchased in the auction and you forfeit your items to McDaniel Auctions LLC. unless shipping has been arranged. In these terms, when McDaniel Auctions is referred to it means McDaniel Auctions LLC, West Tennessee Realty, McDaniel Auctions Staff, Owners, Employees, Personnel, and all Representatives of McDaniel Auctions. 1. AGENCY- McDaniel Auctions personnel, staff and all representatives are agents of the seller. 2. AUCTION ClOSING/END: Online Auctions at McDaniel Auctions are timed auctions set to close at a specific time but time can be extended by what is called a soft close. A soft close is when someone bids within the last minutes before a lot is set to close. In this instance time will extend back out to five minutes allowing time for the opposing bidder to bid again. For example, a lot is set to close at 8:00 a bid comes in at 7:59 the bidding will be extended to 8:04. This process will continue until all bidders have finished bidding and time will expire. Bidders are encouraged not to wait until the last few seconds to bid. McDaniel Auctions is not responsible for bidder internet failure or lag time when bid does go through in time or any technical difficulties that might occur. McDaniel Auctions also may change lot extension at any time if necessary to improve auction. 3. BID INCREMENTS- Bid increments may vary from auction to auction, or lot to lot. Bid increments may change throughout the auction at different price points resulting in a new bid increment. We reserve the right to adjust bid increments at any time during the auction if we feel it is a necessary adjustment to improve the auction. 4. RIGHT TO CHARGE CARD- We reserve the right to charge the card of winning bidders for items won/purchased. If items are not paid for by end of day at pick up winning bidders will be charged for their items and unless shipping or other pick time has been discussed prior to auctions end items shall be forfeited to McDaniel Auctions and items will be dealt with as they see fit. 5. FORFEIT ITEMS: McDaniel Auctions reserve the right to throw away, resale, sell to back up bidder or to deal with items anyway they see fit because these items are property of auction company once forfeited. 6. Property Descriptions/inspections- Descriptions of lots (Real Estate or Personal Property) are attempted to be accurate but are not guaranteed. Bidders are encouraged to preview auctions to see all lots in person. Bidders are encouraged to verify all descriptions for themselves. McDaniel Auctions and staff try to make accurate descriptions but understand that an error could be possible. We understand our description is only an opinion. This is why preview is available for bidders. McDaniel Auctions nor seller will not be held responsible if a description has an error, is inaccurate, or is lacking information. The auctioneer nor seller make any warranty or guarantee, expressed or implied. McDaniel Auctions shall not be held responsible for advertising discrepancies or inaccuracies. Aerial Photos of Real Estate is for illustration Purposes only and are not a surveyed boundary line. Real Estate Acreage is based on legal descriptions. 7. SHIPPING AND HANDLING- Shipping is available at the buyer’s expense for ONLY small items. Buyer’s who want their items shipped need to contact McDaniel Auctions prior to bidding to insure shipping will be available for that particular item and allow for auction company to prepare to retrieve item for shipping. If item is won McDaniel Auctions will contact bidder to verify information and collect payment for shipping and Handling. There will be a minimum $5 handling charge on each item shipped and charge can go up according to size and situation. Buyer will pay the entirety for total shipping. Please allow 5 – 7 business days to allow for packaging and shipping preparation. Again, Buyer must notify McDaniel Auctions that you want your item(s) shipped! If you do not contact McDaniel Auctions and you cannot be contacted through information provided by high bid within a reasonable amount of time. Buyer will be charged for items and items will be thrown away. Please keep in mind if many items are to be shipped from a particular auction it could take additional time. 8. EARNEST MONEY (Real Estate)- The 10% Down within 24 Hours is Earnest money on Real Estate. This money will be credited to buyer at closing but is non-refundable in the event of a default buyer. The payments accepted for earnest money shall be cashiers check, certified check, cash, or money wiring. Any money wiring fees shall be paid by the buyer. 9. Real Estate Closing- The specific closing date shall be in the real estate purchase agreement contract. Closing must take place on or before 30 days of Auction end unless otherwise stated. No additional time shall be added so be prepared to close on the property within the 30 day window prior to bidding. Seller will present free and clear deed for property. Possession shall be taken on date of deed. Each Sale is final with no contingency of any kind. The buyer is purchasing the property as is, where is. Bidders are encouraged to preview, inspect, and view property prior to bidding. The sale is final at the expiration of time and bidder has won. In no way is this sale contingent upon Financing, Post Auction Inspection, Survey, Appraisal, or anything that may not be listed. 10. Real Estate Sales Contract- The Real Estate Sales Contract shall be properly, correctly, and fully completed and signed within 24 hours of auction. 11. Closing Cost- Closing cost Shall be paid by purchaser (buyer) unless otherwise stated in contract. Buyer shall also pay for the cost of the deed and all other costs the buyer may have such as title insurance, lender’s fees, recording fees, etc. Seller shall pay any costs incurred by McDaniel Auctions or West Tennessee Realty as agreed upon in the Auction Contract. 12. Zoning and Easements- Real Estate is subject to all Zoning and Easements even if an Easement is not recorded. 13. Real Estate Taxes, HOA’s- Unless otherwise stated in the description and terms of a particular auction. All Real Estate Taxes shall be prorated to the day of closing using the most current tax amount. HOA Fees, Condominium assessments if applicable will also be prorated up to the day of closing. In some cases, the buyer or seller could pay the entirety of the taxes or HOA Fees, etc. In the Instance that this happens it will be clearly stated in the description of the real estate and will also be in the sales agreement contract. 14. Property Condition- Buyer Specifically Acknowledges that the Property is being purchased “AS IS” will all faults of any kind. Neither McDaniel Auctions, the Seller, or cooperating broker, make any warranties or representations, expressed or implied, to the condition, acreage, habitability, square footage, boundary lines of real property conveyed herein. 15. Auction Modification- McDaniel Auctions reserve the right to extend/deduct the length of an auction, change the time of an auction, and/or to cancel the auction entirely, at anytime or any for reason. McDaniel Auctions Reserves the right to remove any item or lot from the auction at anytime prior to auction end even if auction is already posted and running and bids have been placed. 16. Technical Issues/Difficulty-In the event of a technical issue of any kind the auction bidding could be extended, ended or changed and the decision executed shall be final. If Auction is canceled the property could be listed again in the future. Bidders understand and acknowledge that McDaniel Auctions, the seller, and the company providing the bidding platform shall not be held responsible for technical issues of any kind and not limited to Software, internet, hardware, or even human error. This is an Online system and bidders understand that these problems can arise at any time without warning. McDaniel Auctions encourages bidders to not wait until final few seconds to bid to help eliminate some possibility of these issues. If a bidder misses an item for any reason it is the sole responsibility of the bidder. The possibility of a lag time or even a delay from the bidders bidding device to auction server could cause a bidder to miss an item due to the expiration of time because bid was placed to late. 17. Bids/Bidder Refusal- McDaniel Auctions reserves the right to refuse to accept any and all, bidders or bids for any reason. McDaniel Auctions reserves the right to remove any bidder or bid from the auction. As well as to modify or change usernames at any time or to block any bidder from any auction(s) on behalf of McDaniel Auctions or the seller. All bidders must be verified and without proper verification the bidder shall be unaccepted. Online auction is a convenience to the bidder and bidders have no absolute right to bid on any particular auction. 18. Bidding Disclosure- McDaniel Auctions LLC reserve the right for any auctioneer, employee, owner, associate, or anyone connected to McDaniel Auctions the right to bid on or purchase any item in any auction and will be held to the same terms/conditions/standards as every other bidder. 19. Storage- McDaniel Auctions does not have storage availability, this is why it is critical that winning bidders come to set pick up times to pick up items. McDaniel Auctions is not responsible to hold items that buyer failed to pick up. This is why bidders credit card will be charged and items shall be forfeited to McDaniel Auctions for them to deal with said items accordingly. 20. Hold Harmless- Buyers, bidders and/or Auction Participants Agree that McDaniel Auctions LLC, affiliates, representatives, employees, owners, or agents are to be held harmless of any and all suits, damages, claims including but not limited to judgements, fees, costs, etc. Also to be held harmless of any and all liabilities of injuries to person(s) or property of any type whatsoever caused during the sale or by removal or shipping of items purchased. 21. Default Buyer- In the event that a purchaser of real property did not (within 24 hours of auction end), return real estate sales contract/agreement, or pay the 10% earnest money the buyer will be in default. In which case the default buyer will be held responsible for damages, in the amount equal to, 10% buyer’s premium, the commission stated in Auction Contract and all remaining cost of McDaniel Auctions LLC in stated auction. In the case of Earnest money being paid with a check and the check is returned for any reason, the winning bidder/buyer shall be treated as a default buyer and the stated actions above shall come into place with an additional penalty of six percent of earnest money shall be paid to McDaniel Auctions LLC. The default buyer will also be responsible for any court costs, reasonable attorney fees and any other incurred cost in the process of collecting said balances stated above. The default buyer will also be responsible for the amount of damages caused to seller by breach of contract as well as any attorney fees, court costs, etc. The seller may also sue for specific performance of contract of sale and damages. By bidding on Real Property bidders agree to these terms and fully understand that they will be held responsible for the list above in the event of default. In the event of default, McDaniel Auctions reserves the right to sell the property to next highest bidder or a back up bidder. 22. Legal Disputes- Any and all legal disputes or litigation, that may arise for any reason, McDaniel Auctions LLC and bidders shall be tried in the courts of jurisdiction of Carroll County, Tennessee. By bidding on any items, bidder agrees to all terms and conditions that are set forth. Each party from here on knowingly, voluntarily and intentionally waives any right to have a trial by jury of any dispute arising under or relating to this agreement and agrees such disputes shall be tired before a judge sitting without a jury to the extent permitted by applicable law. Furthermore, successful purchasers agree to pay any and all reasonable attorney fees, court cost, or costs incurred by McDaniel Auctions, LLC, the seller and/or assigns, employees or agents in the beginning or defense of any action herein. 23. Bidders/Buyers Responsibility- Bidders/Buyers Agree to pay for and pick-up won/purchased items during the stated and specific time period. All items are being sold “AS IS” and remember the majority, if not all items are used. No guarantees of any kind on any items sold. If it is known that you may not be able to make it to the stated pickup bidders should not bid on items until contacting McDaniel Auctions to check about shipping or other arrangements. Winning bidders that do not pick-up items by the end of stated pick-up date and time McDaniel Auctions reserve the right to charge your card for your items purchased in the auction and you forfeit your items to McDaniel Auctions unless shipping has been arranged. In the event that a buyer does not pay for or pick up their items they can be banned from future auctions. Bidders are also responsible for all that happens through their auction account so each bidder should keep their username and password confidential. 24. Any Announcements made day of sale supersede all printed material.