GENERAL TERMS

WALNUT GROVE CUMBERLAND PRESBYTERIAN CHURCH

1383 WALNUT GROVE ROAD ~ BURLISON, TN 38015

BIDDING ENDS THURSDAY – SEPTEMBER 13^TH, 2018 AT 1:00 P.M.

BURLISON, TN 38015

ALL BIDDERS MUST REGISTER ON ALEXANDER AUCTIONS & REAL ESTATE SALES WEBSITE (WWW.ALEXANDERAUCTIONS.COM) TO OBTAIN A BID NUMBER.

1 DAY PICK-UP ONLY. ALL PERSONAL PROPERTY ITEMS MUST BE REMOVED ON PICK-UP DAY. THE DAY FOR PICK-UP IS MONDAY – SEPTEMBER 17^TH BETWEEN THE HOURS OF 9:30 A.M. AND 4:30 P.M. NO SHIPPING. BRING YOUR HELP AND TRAILERS

1. ALEXANDER AUCTIONS & REAL ESTATE SALES HAS BEEN COMMISSIONED BY WEST TENNESSEE PRESBYTERY OF THE CUMBERLAND PRESBYTERIAN CHURCH TO SELL THIS REAL ESTATE AT PUBLIC AUCTION.

2. THE REAL ESTATE CONSISTS OF A BRICK AND METAL CHURCH BUILDING & LOT LOCATED AT 1383 WALNUT GROVE ROAD, BURLISON, TN 38015.

3. THE REAL ESTATE IS LOCATED IN THE 3^RD CIVIL DISTRICT OF TIPTON COUNTY, TN.

4. BEING TAX MAP 015, PARCEL 031.00 IN THE TIPTON COUNTY TAX ASSESSOR’S OFFICE.

THE DEED REFERENCE IS PLAT BOOK H, PAGES 1000, LOT 001 IN REGISTER’S OFFICE OF TIPTION COUNTY, TN.

5. PROPERTY HAS NOT RECENTLY BEEN SURVEYED AND WILL BE SOLD ACCORDING TO THE LEGAL DESCRIPTION IN THE OWNER’S DEED.

6. A 10% BUYER’S PREMIUM WILL BE ADDED TO THE FINAL BID ON THE REAL ESTATE TO REACH THE TOTAL SALES PRICE AND CONTRACT PRICE.

7. PURCHASER TO ASSUME ANY 2018 PROPERTY TAXES ASSESSED TO THE PURCHASER. WALNUT GROVE COMBERLAND PRESBYTERIAN CHURCH HAS A RELIGIOUS EXEMPTION FROM PROPERTY TAXES.

8. PROPERTY LIES WITHIN FAR (FORESTRY – AGRICULTURAL – RESIDENTIAL) ZONE IN THE COUNTY OF BURLISON, TN.

9. NO TERMITE LETTER IS BEING PROVIDED.

10. AUCTION ENDING: ALEXANDER AUCTIONS & REAL ESTATE SALES ONLINE AUCTIONS ARE TIMED EVENTS AND ALL BIDDING WILL CLOSE AT THE SPECIFIED TIME.

11. TIME EXTENSION: ALEXANDER AUCTIONS & REAL ESTATE SALES ONLINE AUCTION HAVE AN AUTO-EXTEND FEATURE. THIS EXTENSION WILL BE AN EXTEND ALL TO THE REAL ESTATE AND ALL ITEMS.

12. ANY BID PLACED IN THE FINAL FIVE (5) MINUTES OF THE AUCTION, THE AUCTION ENDING TIME WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE TIME THE BID WAS PLACED ON THE REAL ESTATE AND ALL ITEMS. THE AUTO-EXTENDED FEATURE REMAINS ACTIVE UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE-MINUTE TIME FRAME.

13. REFRESH BIDDING: REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING OR ENABLE THE “AUTO-REFRESH” FEATURE.

14. AUCTIONEER’S DISCRETION: ALEXANDER AUCTIONS & REAL ESTATE SALES HAS FULL DISCRETION TO MODIFY DATE AND TIME, ORDER, AND DETAILS OF THE AUCTION FOR ANY REASON OR NO REASON AT ALL, INCLUDING BUT NOT LIMITED TO TECHNICAL ISSUES, EMERGENCIES, AND CONVENIENCE OF ALEXANDER AUCTIONS & REAL ESTATE SALES OR THE SELLER, ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO MODIFY, CHANGE OR REMOVE USERNAMES AT ANY TIME.

15. SERVER & SOFTWARE TECHNICAL ISSUES: IN THE EVENT THAT THERE ARE TECHNICAL DIFFICULTIES RELATED TO THE SERVER, SOFTWARE OF ANY OTHER ONLINE AUCTION RELATED TECHNOLOGIES, ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVE THE RIGHT TO EXTEND BIDDING, CONTINUE THE BIDDING, OR CLOSE THE BIDDING. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR ALEXANDER AUCTIONS & REAL ESTATE SALES WILL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. EMAIL NOTIFICATIONS MAY BE SENT TO REGISTERED BIDDERS WITH UPDATED INFORMATION AS DEEMED NECESSARY BY ALEXANDER AUCTIONS & REAL ESTATE SALES.

16. IF YOU HAVE ANY PROBLEMS WITH THE WEBSITE, CALL MARKNET CUSTOMER SERVICE AT 1-888-307-6545 AND ALEXANDER AUCTIONS (731) 587-4244 OR (731) 225-1157.

17. PURCHASE AGREEMENT: PURCHASER MUST SIGN THE REAL ESTATE AGREEMENT WITHIN 24 HOURS AFTER THE CLOSE OF THE AUCTION INCLUDING ALEXANDER AUCTIONS & REAL ESTATE SALES AGENCY AGREEMENT.

18. EARNEST MONEY DEPOSIT: PURCHASER SHALL BE REQUIRED TO MAKE AN EARNEST MONEY DEPOSIT OF 15% OF THE PURCHASE AGREEMENT PRICE WITHIN 24 HOURS AFTER THE AUCTION CLOSES AT THE TIME THE PURCHASE AGREEMENT IS SIGNED

19. EARNEST MONEY PAYABLE BY CASH, CASHIER’S CHECK OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTEE MADE TO ALEXANDER AUCTIONS & REAL ESTATE SALES REQUIRED BY ALL PERSONS NOT PERSONALLY KNOWN BY AUCTION COMPANY TO ALEXANDER AUCTIONS & REAL ESTATE ESCROW.

20. CLOSING: BALANCE OF THE CONTRACT PRICE IS DUE ON OR BEFORE 30 DAYS AFTER THE PURCHASE AGREEMENT IS SIGNED FOLLOWING THE CLOSE OF THE AUCTION.

21. BID INCREMENT:

$1.00 ~ $50.00 - $ 1.00

$51.00 ~ $100.00 - $ 2.50

$101.00 ~ $300.00 - $ 10.00

$301.00 ~ $500.00 - $ 20.00

$1,0000.00 ~ $10,000.00 - $50.00

$10,000.00 ~ $25,000.00 - $100.00

$25,000.00 ~ $ 50,000.00 - $500.00

22. POSSESSION OF PROPERTY GIVEN WITH DEED TRANSFER AT CLOSING

23. PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS. PROPERTY SELLS SUBJECT TO ANY CITY, COUNTY, STATE OR SUBDIVISION ZONING REGULATIONS OR RESTRICTIONS THAT EXIST.

24. PROPERTY LIES WITHIN FAR ZONING (FORESTRY – AGRICULTURAL – RESIDENTIAL) IN THE COUNTY OF BURLISON, TN.

25. ALEXANDER AUCTIONS & REAL ESTATE SALES AND SELLER HAS NOT MADE, DOES NOT MAKE, AND EXPRESSLY DISCLAIMS ANY WARRANTIES, REPRESENTATIONS, COVENANTS OR GUARANTEES, EXPRESSED OR IMPLIED, OR ARISING OUT BY OPERATION OF LAW, AS TO THE MERCHANTABILITY, HABITABILITY, QUANTITY, QUALITY OR ENVIRONMENTAL CONDITION OF THE PROPERTY OR ITS SUITABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OR PARTICULAR USE.

26. THE PURCHASER DOES HEREBY ACKNOWLEDGE THAT THE SUBJECT PROPERTY IS PURCHASED AT PUBLIC AUCTION AND THAT A PREREQUISITE TO BIDDING IS THAT THE REAL ESTATE IS PURCHASED ABSOLUTELY “AS IS” WITH NO WARRANTY WHATSOEVER AS TO THE CONDITION OF THE SAME.

27. NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR.

28. NO PURCHASE IS CONTINGENT ON FINANCING, APPRAISALS, PROPERTY OR HOME INSPECTIONS OR ANY OTHER CONTINGENCIES.

29. THE BUILDING HAS A LEAK IN ONE OR MORE ROOMS. CEILING TILE IS MISSING IN AT LEAST ONE OF THE SCHOOL ROOMS. NO FUTURE IMPROVEMENTS WILL BE MADE. THE BUILDING WILL SELL IN ITS PRESENT CONDITION.

30. ANY INFORMATION SUPPLIES IN THE TERMS AND CONDITIONS CONCERNING THE PROPERTY INFORMATION AND TAX AMOUNTS ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASER’S SOLE RESPONSIBILITY TO HAVE COMPLETED THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION, CHECKING AND SHOULD BID ACCORDING TO THEIR DUE DILIGENT SURVEY AND RESEARCH.

31. FAILURES TO PAY THE BALANCE DUE WILL REQUIRE YOU TO FORFEIT YOUR EARNEST MONEY AND BECOME SUBJECT TO ALL TERMS IN THE CONTRACT.

32. PURCHASERS SHOULD CONTACT THEIR ATTORNEY TO COMPLETE THEIR TITLE OPINION IMMEDIATELY FOLLOWING THE AUCTION. CONTRACT DOES NOT PROVIDE FOR AN EXTENSION DUE TO ATTORNEY FAILING TO COMPLETE TITLE WORK OR YOUR LOAN CLOSING NOT BEING SET UP IN TIME TO MEET THE THIRTY (30) DAYS CLOSING PERIOD. CONTACT YOUR ATTORNEY IMMEDIATELY!

33. COMPLIANCE WITH THE TERMS OF SALE: 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 MONEYS RECEIVED AS DEPOSIT OR OTHERWISE, AS LIQUIDATED DAMAGES. LOTS NOT PAID FOR WITHIN THE TIME SPECIFIED HEREIN MAY BE RESOLD AT PUBLIC OR PRIVATE SALES WITHOUT FURTHER NOTICE. ANY RESULTING DEFICIENCY TOGETHER WILL ALL EXPENSE AND COSTS OF RESALE WILL BE THE RESPONSIBILITY OF THE DEFAULTING PURCHASER.

34. BIDDERS WHO BID OFF-SITE AND DO NOT MAKE AN INSPECTION UNDERSTANDS AND ACKNOWLEDGES THAT THEY MAY NOT BE ABLE TO INSPECT THE PROPERTY AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVE FACTOR.

35. ALEXANDER AUCTIONS & REAL ESTATE SALES IS PROVIDING INTERNET BIDDING AS A SERVICE TO BIDDER. BIDDER ACKNOWLEDGES AND UNDERSTANDS THAT THIS SERVICE MAY OR MAY NOT FUNCTION CORRECTLY THE DAY OF THE AUCTION. UNDER NO CIRCUMSTANCES SHALL BIDDER HAVE ANY KIND OF CLAIM AGAINST ALEXANDER AUCTIONS & REAL ESTATE SALES OR ANYONE ELSE IF THE INTERNET SERVICE FAILS TO WORK CORRECTLY BEFORE OR DURING THE LIVE AUCTION. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS FROM ANY SOURCE. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION BEGINS.

36. ALL TIE OR DISPUTED BIDS WILL BE SETTLED BY THE AUCTIONEER AND HIS DECISION WILL BE FINAL. THE AUCTIONEER WILL HAVE THE RIGHT TO RE-OPEN THE BID BETWEEN ALL BIDDERS.

37. ALEXANDER AUCTIONS & REAL ESTATE SALES AND ALL AGENTS WORKING AT THIS AUCTION ARE ACTING AS AN AGENT FOR THE SELLER. ANY INDIVIDUAL ATTENDING THE AUCTION OR WORKING AT THE AUCTION HAS THE RIGHT TO BID AND PURCHASE THE PROPERTY.

38. AUCTIONEER AND SALES MANAGEMENT RESERVE THE RIGHT TO BID OR EXECUTE ANY ABSENTEE OR OTHER BIDS THAT RE TURNED INTO THEM PERSONALLY OR ONLINE, PERSONALLY.

39. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT BE RESPONSIBLE FOR ANY MISSED BIDS OR UNEXECUTED BIDS FROM ANY SOURCE.

40. 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 BELIEVED TO BE TRUE AND CORRECT. NO WARRANTIES ARE MADE TO THIS EFFECT.

41. ALL BIDDERS AGREE AND ACCEPT THESE TERMS AND CONDITIONS AND AGREE TO BID ACCORDING TO THESE TERMS WHEN THEY REGISTER FOR A BID NUMBER.

42. PROPERTY IS BEING SOLD SUBJECT TO THESE TERMS AND ANY SPECIFIC TERMS. THERE TERMS WILL BE ATTACHED TO THE SALES CONTRACT FOR FUTURE REFERENCE.

43. ALEXANDER AUCTIONS AND REAL ESTATE SALES AND THE SELLER OFFERING THE SOUND EQUIPMENT, TABLES, CHAIRS, AND OTHER PERSONAL PROPERTY SEPARATE FROM THE REAL ESTATE.

44. THE PURCHASER SHALL BE RESPONSIBLE FOR DISMANTLING AND REMOVING ITEMS FROM THE BUILDING. PURCHASER SHALL USE CARE NOT TO DAMAGE THE INTERIOR OF THE BUILDING.

45. ANY FLOOR, WALL OR DOOR SCRATCHES ARE TO BE REPAIRED BY THE PURCHASERS. PURCHASERS SHALL BE RESPONSIBLE FOR THEIR RIGGERS, DISMANTLERS OR CARPENTERS.

46. PURCHASERS ARE RESPONSIBLE FOR REMOVAL OF ALL PERSONAL PROPERTY.

47. ALL TIE BIDS OR DISPUTES WILL BE SETTLED BY THE AUCTIONEER AND HIS DECISION WILL BE FINAL.

48. AUCTIONEER AND SALES MANAGEMENT RESERVE THE RIGHT TO BID OR EXECUTE ANY ABSENTEE OR OTHER BIDS THAT ARE TURNED IN TO THEM OTHER THAN ONLINE.

49. ALL BIDDERS AGREE THAT ANY BIDS THEY MAKE ON THE REAL ESTATE OR PERSONAL PROPERTY WILL STAND AND REMAIN ACTIVE UNTIL THE AUCTION IS COMPLETED.

50. ALL BIDDERS ON-SITE, ONLINE, AND OFF-SITE AGREE TO ACCEPT THESE GENERAL TERMS AND RULES STATED IN THE ATTACHED MULTI-PAR AUCTION RULES. (SPECIFIC TERMS, ON-LINE AND OFF-SITE BIDDER TERMS AND ANY TERMS ANNOUNCED DURING THE AUCTION).

51. ON-LINE AND OFF-SITE BIDDING IS ALLOWED TO PRE-APPROVED BIDDERS THROUGH ALEXANDER AUCTIONS & REAL ESTATE SALES.

52. ALL ANNOUNCEMENTS MADE BY THE AUCTIONEER AND BY THE AUCTION COMPANY DURING THE AUCTION WILL TAKE PRECEDENCE OVER ANY PREVIOUS ANNOUNCEMENTS OR STATEMENTS.

53. ALL BIDDERS AGREE AND ACCEPT TO BID ACCORDING TO THESE TERMS.

54. PROPERTY IS BEING SOLD SUBJECT TO THESE TERMS AND ANY OTHER TERMS ANNOUNCED DURING THE AUCTION. THESE TERMS WILL BE INCORPORATED INTO THE SALES CONTRACT FOR FUTURE REFERENCE.

55. PROPERTY IS BEING SOLD SUBJECT TO THESE TERMS AND ANY OTHER TERMS ANNOUNCED DURING THE AUCTION. THESE TERMS WILL BE INCORPORATED INTO THE SALES CONTRACT FOR FUTURE REFERENCE.

56. 1-DAY PICK-UP ONLY. ALL PERSONAL PROPERTY ITEMS MUST BE REMOVED ON PICK-UP DAY. THE DAY FOR PICK-UP IS MONDAY – SEPTEMBER 17^TH BETWEEN THE HOURS OF 9:30 A.M. AND 4:30 P.M. NO SHIPPING. BRING YOUR HELP AND TRAILERS.

WE APPRECIATE YOU ATTENDING THIS AUCTION AND WE WILL BE GLAD TO ANSWER ANY QUESTIONS YOU MAY HAVE.

ALEXANDER

AUCTIONS & REAL ESTATE SALES

MARVIN E. ALEXANDER CAI – LIC. 9, FL 107

239 UNIVERSITY STREET ~ P. O. BOX 129

MARTIN, TN 38237 ~ (731) 587-4244

EMAIL: WWW.ALEXANDERAUCTIONS@FRONTIERNET.NET

SEE OUR WEBSITE: WWW.ALEXANDERAUCTIONS.COM

WALNUT GROVE CUMBERLAND PRESBYTERIAN CHURCH ONLINE AUCTION