TERMS & CONDITIONS

PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING.
IF YOU HAVE NOT READ AND UNDERSTAND THESE TERMS, PLEASE DO NOT BID. BY BIDDING ON THIS
AUCTION, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH AND ENTERS INTO A
CONTRACTUAL AGREEMENT TO PURCHASE THE ITEMS(S) UNDER THE FOLLOWING TERMS AND
CONDITIONS:

1. Conditions of Sale: This is an absolute online auction and not contingent on or subject to financing,
appraisal, survey, or inspections of any kind, as agreed to by bidders at registration prior to bidding and
specified in the attached Agreement to Purchase Real Estate. Buyer acknowledges they are buying
property “as-is”, “where-is”, without inspections or contingencies. Buyer(s) will rely on his/her own
judgment and inspection.

2. Closing Info: A Buyer’s Premium of 10% is added to the high bid. Please take this into consideration
when bidding. At the close of the auction, the successful Bidder will be emailed an Agreement to
Purchase Contract to be executed and returned to Lawson Co. Auctioneers, LLC within twenty-four (24)
hours of the completion of the auction along with 10% deposit of the total contract price. The entirety of
the remaining balance is due at closing on or before Thirty (30) days from Auction Day. Purchaser will be
responsible for all wire transfers. Per the Contract, time is of the essence; you should proceed to closing
within Thirty (30) days. Buyer and seller shall pay their respective closing cost as is customary in
Kentucky. Possession shall be given to the successful Buyer(s) at closing.

3. Liquidated Damages: Successful Bidders not executing and returning their Contract with Earnest
Money deposit within Forty Eight (48) hours of the conclusion of the auction will be considered in
default. If your closing is delayed for any reason, by you, as purchaser, or other parties working on your
behalf, including any lender you involve, you may be declared in breach of this contract, forfeit all
deposits made and could additionally be liable for any and all costs incurred by Seller and Lawson Co.
Auctioneers, LLC incurred in a subsequent resale of the property. If such action occurs, Lawson Co.
Auctioneers, LLC hereby has the right to disperse the deposit as stated in the listing agreement and the
buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of
auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this
agreement. These liquidated damages do not restrict the seller from suing the buyer for performance
damages and/or any additional damages the seller suffers by the default of the buyer.

4. Other Conditions: Buyer(s) must be prepared to make a cash offer. There are no contingencies to this
sale (i.e., financing, appraisal, repairs, or inspections). Therefore, you should be pre-qualified by a lender
prior to bidding if you require financing. This property is being sold for cash “as-is, where-is” with a
closing deadline.
Lawson Co. Auctioneers, LLC reserves the right to remove or cancel the bids and or bidding rights and
privileges of any party at any time deemed not to be in the best interest of the seller. The identity of allbidders will be verified, bidding rights are provisional, and if complete verification is not possible, Lawson
Co. Auctioneers, LLC will reject the registration, and bidding activity will be terminated.
All Lawson Co. Auctioneers , LLC Online Only Real Estate Auctions are timed events that have an auto extend feature. Any bid placed within 10 minutes of the auction ending will automatically extend the
auction for 5 minutes from the time the bid is placed. Example: If an auction scheduled to end at 6:00
p.m. receives a bid at 5:59 p.m., the close time of the auction automatically extends to 6:05 p.m. The
auto-extend feature remains active until no further bids are received within the 5 minute time frame.

5. Real Estate Brokerage Services Disclosure: Lawson Co. Auctioneers, LLC and their representatives are
Exclusive Agents of the Seller(s). We do not represent the buyer(s) in any manner and we must be
completely loyal and faithful to our client. Lawson Co. Auctioneers, LLC has auction listing for this
transaction. All negotiations must be conducted through Lawson Co. Auctioneers, LLC.

6. Lawson Co. Auctioneers, LLC Involvement in this Contract: The seller and buyer hereby agree that
Lawson Co. Auctioneers, LLC is a part of this contract and shall receive compensation as stated in the
agreement hereto or as stated in the listing agreement hereby made a part of.

7. Restrictions: Real Estate is sold subject to any and all existing matter of record, and all easements,
building use or zoning laws and regulations. Taxes and assessments will be pro-rated to the closing date.

8. Additional Auction Information: All information published, announced or contained herein was
derived from sources believed to be correct; however, it is not guaranteed by the seller or the
auctioneers. Personal on-site inspection of all property is recommended. The failure of any bidder to
inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any
claim or demand for adjustment or withdrawal of bid, offer or deposit money after its opening tender.
This includes but is not limited to public information such as easements, restrictions, zoning, right-of ways, flood plain or any other information that can be obtained as public record in the appropriate county court
house concerning subject properties.

9. Bidder Verification: Bidding rights are provisional, and if identity verification is questionable, Lawson
Co. Auctioneers, has the right to reject the registration, and bidding activity will be terminated. The
Seller and Lawson Co. Auctioneers reserve the right to preclude any person from bidding if there is any
question as to the person’s credential as they are responsible for ANY and ALL activity involving their
account. When using the web site you must obey any and all local state and federal laws. Violations will
result in termination of web site use privileges.

10. Technical Issues: In the event there are technical difficulties related to the server, software, internet
or any other online auction-related technologies, Lawson Co. Auctioneers, LLC reserves the right to
extend bidding, continue the bidding or close the bidding. Neither the company providing the software,
nor Lawson Co. Auctioneers, LLC, shall be held responsible for the failure of the software to function
properly for any reason.

YOUR BID ON THIS AUCTION INDICATES BOTH AN UNDERSTANDING AND AN ACCEPTANCE OF THE
TERMS OF THIS CONTRACTUAL AGREEMENT BETWEEN YOURSELF AND BOTH THE SELLER AND LAWSON
CO. AUCTIONEERS AND THAT YOU, AS THE BIDDER, ARE PREPARED TO PURCHASE THE PROPERTY UNDER
THE TERMS AND CONDITIONS OF THIS AUCTION

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