GENERAL TERMS

HOWARD C. McCLELLAND AUCTION

10971 HWY 641 NORTH~ SUGAR TREE, TN 38380

SATURDAY * NOVEMBER 4^TH, 2017 * 10:00 A.M.

ALEXANDER AUCTIONS & REAL ESTATE SALES HAS BEEN COMMISSIONED BY KAREN McCLELLAND, TO SELL THIS REAL ESTATE AT AUCTION TO THE HIGHEST BIDDER.

THE REAL ESTATE CONSISTS OF A FRAME RESIDENCE & 30.156 ACRES OF TIMBERLAND LOCATED AT 10971 HWY. 641 NORTH, SUGAR TREE, TN 38380.

THE REAL ESTATE IS LOCATED IN THE 8^TH CIVIL DISTRICT OF DECATUR COUNTY, TN.

BEING TAX MAP 18, PARCEL 5.04 IN THE DECATUR COUNTY TAX ASSESSOR’S OFFICE.

A. RESIDENCE & 30.156 ACRES – 719.73 FT FRONTAGE ON HWY 641 AND 703.15 FT FRONTAGE ON YOUAL GIBSON ROAD.

THE LEGAL DESCRIPTION IS ATTACHED AS EXHIBIT “A”.

DEED REFERENCE IN DEED BOOK 285, PAGE 650 - 653 RODCT.

PROPERTY SURVEYED BY ROBERT G. BARRETT, ROBERT G. BARRETT & ASSOCIATES, REGISTERED LAND SURVEYOR TN NO. 898, P.O. BOX 206. BIG SANDY, TN 38221 ON JUNE 13, 2013.

2017 TAXES TO BE PRO-RATED TO DATE OF CLOSING.

2017 COUNTY TAXES: $585.00

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.

9. TERMS ON REAL ESTATE: 15% DOWN DAY OF AUCTION. BALANCE DUE WITHIN 30 DAYS UPON DELIVERY OF DEED. PAYABLE IN CASH, CASHIERS 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.

10. POSSESSION OF PROPERTY GIVEN WITH DEED.

ALEXANDER AUCTIONS & REAL ESTATE SALES AGENTS WORKING AT THIS AUCTION ARE ACTING AS AN AGENT FOR THE SELLER.

NO PERSONAL PROPERTY IS INCLUDED WITH THE REAL ESTATE.

PURCHASERS AND PURCHASER’S REPRESENTATIVES HAVE HAD THE OPPORTUNITY TO INSPECT THIS PROPERTY AND WILL MAKE ALL BIDS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.

SELLER AND ALEXANDER AUCTIONS & REAL ESTATE SALES 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.

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.

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

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 DATE DEADLINE.

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

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ANY INFORMATION SUPPLIED 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 BID ACCORDING TO THEIR DUE DILIGENT SURVEY AND RESEARCH.

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

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

PROPERTY AND IMPROVEMENTS ARE BEING SOLD IN THEIR PRESENT CONDITION “AS IS”. NO IMPROVEMENTS WILL BE MADE. THERE ARE NO WARRANTIES OR GUARANTEES EXPRESSED OR IMPLIED AS TO CONDITION OR FITNESS FOR USE. THE WARRANTIES OF HABITABILITY AND FITNESS FOR A PARTICULAR PURPOSE AND PARTICULAR USE ARE EXPRESSLY EXCLUDED.

ALL TIE BIDS WILL BE SETTLED FROM THE AUCTION STAND BY THE AUCTIONEER AND HIS DECISION WILL BE FINAL. THE AUCTIONEER WILL HAVE THE RIGHT TO RE-OPEN THE BID BETWEEN ALL BIDDERS.

ANY INDIVIDUAL ATTENDING THE AUCTION OR WORKING AT THE AUCTION HAS THE RIGHT TO BID AND PURCHASE THE PROPERTY.

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

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

ALL INFORMATION USED IN THE ADVERTISING AND PROMOTION OF THIS AUCTION HAS BEEN OBTAINED FROM PUBLIC RECORDS AND OTHER SOURCES DEEMED TO BE ELIABLE AND ARE BELIEVED TO BE TRUE AND CORRECT. NO WARRANTIES ARE MADE TO THIS EFFECT.

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

THE PROPERTY WILL BE OFFERED IN ITS ENTIRETY.

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

ALL ANNOUNCEMENTS MADE FROM THE AUCTION STAND WILL TAKE PRECEDENCE OVER ANY PREVIOUS ANNOUNCEMENTS OR STATEMENTS.

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 ~

Office: (731) 587-4244 ~ Cell: (731) 225-7368

Email: www.alexanderauctions@frontiernet.net

SEE OUR WEBSITE: www.alexanderauctions.com

Howard C. McClelland Estate