GENERAL TERMS & CONDITIONS

JOSEPH KRULISKI AUCTION

SATURDAY, JULY 30^TH, 2016

1680 KINGS ROAD, PALMERSVILLE, TN 38241

1. ALEXANDER AUCTIONS & REAL ESTATE SALES HAS BEEN COMMISSIONED BY THE OWNER, JOSEPH KRULISKI.

2. REAL ESTATE CONSISTS OF RESIDENCE AND 47.997 ACRES LOCATED IN THE 25^TH CIVIL DISTRICT OF WEAKLEY COUNTY, TN.

3. PROPERTY OFFERED IN 5 TRACTS AND COMBINATIONS.

TRACT 1: BRICK RESIDENCE & 5.00 ACRES.

TRACT 2: 5.884 ACRES

TRACT 3: 10.00 ACRES

TRACT 4: 13.796 ACRES

TRACT 5: 13.317 ACRES

4. DEED REFERENCES:

BOOK 185 - PAGE 407, BOOK 185 - PAGE 482, BOOK 211 - PAGE 152, BOOK 387- PAGE 392 IN THE REGISTER’S OFFICE OF WEAKLEY COUNTY, TN. SEE TRACT INFORMATION EXHIBIT NO. 1.

5. TAX MAP 47, PARCEL 16.01 IN THE WEAKLEY COUNTY, TN TAX ASSESSOR’S OFFICE.

6. PROPERTY SELLS ACCORDING TO SURVEY BY CROCKER-PRATHER LAND SURVEYING, LLC, JAMES W. CROCKER, TN RLS 3364- SCOTT PRATHER, TN RLS 2956, 397 HERMAN BROOKS ROAD, MARTIN, TN 382387.

7. TERMS: 20% DOWN DAY OF AUCTION ON INDIVIDUAL TRACTS; 15% DOWN DAY OF AUCTION ON PURCHASES OVER $200,000. PAYABLE IN CASH, CASHIER’S CHECK OR PERSONAL CHECK WITH CURRENT BANK LETTER OF GUARANTY MADE TO ALEXANDER AUCTIONS & REAL ESTATE SALES REQUIRED BY ALL PERSONS NOT PERSONALLY KNOWN BY AUCTION COMPANY.

8. FAILURE TO PAY THE BALANCE DUE WILL REQUIRE PURCHASER TO FORFEIT THEIR EARNEST MONEY AND BECOME SUBJECT TO ALL TERMS IN THE PURCHASE AGREEMENT.

9. DEED CONVEYANCE WILL BE A GENERAL WARRANTY DEED.

10. 2015 TAXES: $ 559.00

11. 2016 TAXES TO BE PRORATED CALCULATED ON THE 2015 TAX AMOUNT UNLESS 2016 AMOUNT IS AVAILABLE.

12. SELLER TO PAY ANY ROLL BACK TAXES.

13. A 10% BUYER’S PREMIUM WILL BE ADDED TO THE FINAL BID ON THE REAL ESTATE TO DETERMINE THE TOTAL SELLING PRICE AND CONTRACT PRICE.

14. A 13% BUYER’S PREMIUM WILL BE ADDED TO THE FINAL BID TO REACH THE TOTAL SELLING PRICE FOR ANY TRACT OR ITEM PAID BY CREDIT CARD.

15. LAND EARNEST MONEY DOWN PAYMENTS BY CREDIT CARD MUST BE PRE-APPROVED BY ALEXANDER AUCTIONS & REAL ESTATE SALES.

16. POSSESS OF THE PROPERTY WILL BE GIVEN UPON DELIVERY OF DEED.

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

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

19. 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 SHOULD FOR CASH “AS- IS, WHERE-IS” WITH A CLOSING DEADLINE.

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

21. 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.

22. PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS.

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

24. THE OWNERS, SELLERS AND SALES MANAGEMENT HAVE NOT HAD OR REQUESTED ANY PERK TEST OR SOIL CLASSIFICATION INSPECTIONS TO BE RUN BY THE HEALTH DEPARTMENT TO DETERMINE THE APPROVAL OR REQUIREMENTS FOR SEPTIC TANKS OR SEPTIC LINES FOR ANY OF THE TRACTS.

25. PURCHASER(S) SHALL CONTACT THE WEAKLEY COUNTY WATER PROTECTION AGENCY AND/OR AN APPROVE SOIL SCIENTIST TO OBTAIN A SOIL ANALYSIS AND APPROVAL FOR A SEPTIC SYSTEM. ALEXANDER AUCTIONS AND THE SELLERS MAKE NO WARRANTY OR GUARANTY AS TO SOIL TYPES.

26. AUCTIONEER & BROKER IS NOT AN EXPERT IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. PURCHASER ACCEPTS THIS PROPERTY IN ITS PRESENT CONDITION AND AGREES TO HOLD HARMLESS THE BROKER, HIS AGENTS AND ALEXANDER AUCTIONS & REAL ESTATE SALES FROM ANY ENVIRONMENTAL HAZARDS AND THE COST TO DEFEND HIMSELF, HIS AGENTS OR ALEXANDER AUCTIONS & REAL ESTATE SALES FROM ANY CLAIMS.

27. THE RESIDENCE ON TRACT 1 SELLS SUBJECT TO THE LEAD BASE PAINT DISCLOSURE: LEAD BASE PAINT NOTIFICATION APPLIES; RESIDENCE DISCLOSURE OF INFORMATION ON LEAD-BASED PAINT AND LEAD-BASED PAINT HAZARDS; EVERY PROSPECTIVE PURCHASER IS INFORMED THIS HOUSE WAS BUILT PRIOR TO 1978 AND NOTIFICATION IS GIVEN THAT THE PROPERTY MAY PRESENT EXPOSURE TO LEAD-BASED PAINT. PROSPECTIVE PURCHASERS ARE GRANTED, BY LAW, 10 DAYS THE RIGHT TO HAVE THIS HOME INSPECTED FOR LEAD-BASED PAINT. THE PERIOD OF TIME ALLOWED FOR RISK ASSESSMENT OR INSPECTION FOR POSSIBLE LEAD-BASED PAINT HAZARD BEGAN ON JULY 13^TH, 2016 WITH THE FIRST ADVERTISEMENT FOR THE SALE OF THIS PROPERTY AT AUCTION THROUGH JULY 27^TH, 2016.

28. PURCHASE(S) HAS HAD THE OPPORTUNITY TO INSPECT THE PROPERTY AND WILL MAKE ALL BIDS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.

29. 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.

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

31. 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.

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

33. AUCTIONEER AND SALES MANAGEMENT RESERVE THE RIGHT TO BID OR EXECUTE ANY ABSENTEE OR OTHER BIDS THAT ARE TURNED IN TO THEM BEFORE THE AUCTION, ONLINE AND BY PHONE DURING THE AUCTION.

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

35. 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.

36. 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.

37. AUCTION WILL BE HELD AS A MULTI-PARCEL AUCTION WHICH MEANS THE TRACTS WILL BE OFFERED INDIVIDUALLY, IN COMBINATIONS, AND AS A WHOLE. IF COMBINATIONS ARE MADE AND IF THE 5 TRACT ARE COMBINED INTO 1 COMBINATION TRACT. THE TRACTS WILL BE OFFERED INDIVIDUALLY AND AS COMBINATIONS AGAIN.

38. IF BIDS ARE RAISED ON INDIVIDUAL LOTS AND COMBINATION OF LOTS THAT EXCEED ANY PREVIOUS TOTAL BIDS, THE PROPERTY WILL BE OFFERED IN ITS ENTIRETY. THE PROCESS CONTINUES UNTIL NO MORES BIDS ARE RECEIVED.

39. PURCHASER(S) SHOULD REVIEW AND BECOME FAMILIAR WITH THE TERMS AND PROCEDURE OF THE MULTI-PARCEL AUCTION. (SEE ATTACHED EXHIBIT).

40. ALL BIDDERS ON SITE, ON-LINE AND OFF-SITE AGREE TO ACCEPT THESE GENERAL TERMS AND RULES STATED IN THE ATTACHED MULTI-PARCEL AUCTION RULES. (SPECIFIC TERMS, ON-LINE AND OFF-SITE TERMS, AND ANY TERMS ANNOUNCEMENTS MADE FROM THE AUCTION STAND).

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

42. ON-LINE AND OFF-SITE BIDDERS MUST REVIEW THE GENERAL TERMS, SPECIFIC TERMS & ADDITIONAL ON-LINE AND OFF-SITE TERMS AND ANNOUNCEMENTS MADE FROM THE AUCTION STAND.

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

ALEXANDER

AUCTIONS & REAL ESTATE SALES

MARVIN E. ALEXANDER CAI, AUCTIONEER TL9, FL 107

239 UNIVERSITY STREET * P O BOX 129, MARTIN, TN 38237 * (731) 587-4244

SEE OUR WEBSITE: WWW.ALEXANDERAUCTIONS.COM

JOSEPH KRULISKI LAND AUCTION