GENERAL TERMS & CONDITIONS

MARTY MYRICK ESTATE & MILDRED MILLER

LAND AUCTION

SATURDAY, MAY 21, 2016 & TUESDAY, MAY 24, 2016

MARTIN, TN 38237

1. MARTY MYRICK ESTATE 50% UNDIVIDED INTEREST AND MILDRED MILLER 50% UNDIVIDED INTEREST.

2. ALEXANDER AUCTIONS & REAL ESTATE SALES HAS BEEN COMMISSIONED BY THE OWNERS AND THE CHANCERY COURT OF WEAKLEY COUNTY, W. MICHAEL MALOAN, CHANCELLOR REPRESENTING MINOR HEIR’S INTEREST, TO SELL THE MYRICK AND MILLER FARM AND THE MYRICK ESTATE’S PERSONAL PROPERTY AT AUCTION.

3. PROPERTY SELLS SUBJECT TO APPROVAL OF THE WEAKLEY COUNTY CHANCERY COURT, W. MICHAEL MALOAN, CHANCELLOR.

4. REAL ESTATE CONSISTS OF RESIDENCE AND 159.681 ACRES LOCATED IN THE 18^TH CIVIL DISTRICT OF WEAKLEY COUNTY, TN.

5. PROPERTY OFFERED IN 12 TRACTS & COMBINATIONS

TRACT 1: 44.385 ACRES

TRACT 2: 2.588 ACRES

TRACT 3: BRICK RESIDENCE AND 4.135 ACRES

TRACT 4: 2.560 ACRES

TRACT 5: 10.286 ACRES

TRACT 6 : 28.440 ACRES

TRACT 7 : 4.646 ACRES

TRACT 8 : 3.778 ACRES

TRACT 9: HOUSE, BARN, SHEDS & 3.989 ACRES

TRACT 10: 3.970 ACRES

TRACT 11: 20.957 ACRES

TRACT 12: 29.947 ACRES

6. DEED REFERENCES:
BOOK 413 PAGE 1181, BOOK 413 PAGE 1179, BOOK 413 PAGE 1176, AND BOOK 103 PAGE 231 – RECORDED IN THE REGISTER’S OFFICE OF WEAKLEY COUNTY, TENNESSEE. SEE TRACT INFORMATION EXHIBIT NO. 1

7. TAX MAP 91 PARCEL 1 AND TAX MAP 92 PARCEL 17 IN THE WEAKLEY COUNTY, TENNESSEE TAX ASSESSOR’S OFFICE

2015 TAXES – MAP 92 PARCEL 17 -$404.00 AND MAP 91 PARCEL 1 - $717.00

8. 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 38237.

9. TERMS: 20% DOWN DAY OF AUCTION ON INDIVIDUAL TRACTS; 15% DOWN DAY OF AUCTION ON PURCHASES OVER $200,000.00. 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.

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

11. DEED CONVEYANCE WILL BE A GENERAL WARRANTY DEED.

12. PURCHASERS TO ASSUME THE 2016 TAXES.

13. SELLER TO PAY ANY ROLL BACK TAXES.

14. 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.

15. 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.

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

17. SELLER’S RETAIN ANY OLD TRACTORS, VEHICLES, OR EQUIPMENT WHICH MAY BE LOCATED ON THE FARM OR WOODS WHICH HAS NOT BEEN LOCATED. SELLERS HAVE OPTION TO LEAVE ANY OF THESE ITEMS WITH THE LAND, IF THEY DO NOT WANT TO REMOVE.

18. POSSESSION OF RESIDENCE TRACT NO. 3 AND TRACT NO. 9 WILL BE GIVEN UPON DELIVERY OF DEED.

19. POSSESSION OF THE CROPLAND WILL BE GIVEN WHEN THE PURCHASE AGREEMENT IS SIGNED AND THE EARNEST MONEY DEPOSIT IS MADE, SUBJECT TO THE CLEARANCE OF ANY CHECK.

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

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

22. 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.

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

24. 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.

25. PROPERTY SELLS SUBJECT TO EXISTING EASEMENTS.

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

27. 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.

28. PURCHASER(S) SHALL CONTACT THE WEAKLEY COUNTY WATER PROTECTION AGENCY AND/OR AN APPROVED 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.

29. ALEXANDER AUCTIONS & REAL ESTATE SALES HAS NO KNOWLEDGE AS TO THE TYPE AND EXISTANCE OF THE SEPTIC TANK AND SEPTIC SYSTEM LOCATED ON TRACT 3 AND TRACT 9.

30. 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.

31. THERE IS SOME HOUSEHOLD AND FARM TRASH VISIBLE ON THE LAND IN AT LEAST 3 OR MORE DIFFERENT LOCATIONS WHICH WILL REMAIN WITH THE FARM.

32. SOME SCRAP IRON AND PERSONAL PROPERTY MAY BE GROWN INTO TREES. ANY ITEMS THAT CAN BE SOLD SEPARATELY WILL BE SOLD AND TREES MAY HAVE TO BE CUT TO REMOVE ITEMS

33. THE RESIDENCES ON TRACT 3 AND TRACT 9 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 HAZARDS BEGAN ON MAU 9^TH, 2016 WITH THE FIRST ADVERTISEMENT FOR THE SALE OF THIS PROPERTY AT AUCTION AND MAY 19^TH, 2016

34. PURCHASER HAS HAD THE OPPORTUNITY TO INSPECT THE PROPERTY AND WILL MAKE ALL BIDS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.

35. 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.

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

37. 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!

38. 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.

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

40. 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.

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

42. 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.

43. 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.

44. 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 8 TRACTS ARE COMBINED INTO 1 COMBINATION TRACT, THE TRACTS WILL BE OFFERED INDIVIDUALLY AND AS COMBINATIONS AGAIN.

45. 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 MORE BIDS ARE RECEIVED.

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

47. 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 BIDDER TERMS AND ANY TERMS ANNOUNCED AT THE AUCTION).

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

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

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

SPECIFIC TERMS & CONDITIONS

MARTY MYRICK & MILDRED MILLER

HOUSE & LAND AUCTION

THERE HAS BEEN SOME ROOFING MATERIALS DEPOSITED TO HELP CONTROL EROSION ON TRACT 1 NEAR THE EAST BOUNDARY LINE.
TRACT 3: BRICK RESIDENCE – HAS A BASEMENT WITH UTILITY CONNECTIONS AND A GARAGE. IT APPEARS THE BASEMENT PART SEEPS WATER OR THERE ARE PLUMBING LEAKS.
TRACT 3: THE DETACHED GARAGE, SHOP AREAS, AND DOG PENS NEED REPAIR. SOME OF THE ROOFS HAVE ROTTED AND FALLEN IN.
THERE IS SOME TRASH ON TRACT 6 & 7.
THERE IS TRASH ON TRACT 8 & 9.
ALEXANDER AUCTIONS & REAL ESTATE SALES HAS NO KNOWLEDGE AS TO THE TYPE AND EXISTENCE OF THE SEPTIC TANK AND SEPTIC SYSTEM LOCATED ON TRACT 3 AND TRACT 9.
ON EACH OF THESE TRACTS THERE MAY BE TRASH OR HOUSEHOLD ITEMS LEFT IN RESIDENCES AND BUILDINGS.
TRACT 9: FRAME RESIDENCE – IN DETERIORATED CONDITION WITH OPEN HOLES IN BATHROOM FLOOR. AREAS THROUGHOUT THE HOUSE APPEAR TO HAVE ROTTEN OR DETERIORATED JOISTS. FLOORS ARE VERY SOFT – MAY BE ONLY SUPPORTED BY CARPETING.
TRACT 9: BASEMENT AREA HAS WATER.
TRACT 9: SELLER HAS NO KNOWLEDGE OF THE CONDITION OF ANY HEATING, PLUMBING, ELECTRICAL SERVICES OR WELL.
THE SINCLAIR GAS PUMP ON TRACT 9 IS BEING SOLD SEPARATE AND WILL BE DISCONNECTED FROM THE PROPERTY.
THERE MAY BE OTHER AREAS WHICH HAVE SCATTERED METAL, TRASH DEBRIS AND APPLIANCES LOCATED IN THE WOODED AREAS.
THE IMPLEMENT SHED NEEDS REPAIR.
THE STOCK BARNS NEED REPAIR.
ADDITIONAL SHED AND STORAGE BUILDINGS NEED REPAIR.
CONCRETE MILK BARN ONLY HAS SOME PARTIAL WALLS STANDING.

EXHIBIT NO. 1

SURVEYOR TRACT INFORMATION-

DEED REFERENCES – TAX MAP & PARCEL NO.

TRACT INFORMATlON:

TRACT 1: 44.385 ACRES

PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK, II ESTATE

DB. 413 PG. 1179 (PART OF TRACTS

1 AND 2 OF DEED) MILDRED MILLER

DB. 413 PG. 1176 (PART OF TRACTS

1 AND 2 OF DEED) ALSO PART OF

DB. 103 PG. 231 (J.H. AND LEEAMMIE

DAVIS. GERTRUDE MYRICK AND

MILDRED MILLER, DAUGHTERS OF

LEEAMMIE DAVIS)

TRACT 2 - 2.588 ACRES

PART OF PARCEL 1 TAX MAP 91
PART OF DB. 103 PG. 231

(J.H. AND LEEAMMIE DAVIS.
GERTRUDE MYRICK AND MILDRED
MILLER. DAUGHTERS OF LEEAMMIE DAVIS)

TRACT 3 - 4.135 ACRES

PART OF PARCEL 1 TAX MAP 91
PART OF DB. 103 PG. 231

(J.H. AND LEEAMMIE DAVIS,

GERTRUDE MYRICK AND MILDRED MILLER, DAUGHTERS OF LEEAMMIE DAVIS) ALL OF PARCEL 17 TAX MAP 92

JAMES (MARTY). MYRICK, II ESTATE

DB. 413 PG. 1181 PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK. II ESTATE

DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED)
MILDRED MILLER DB. 413 PG. 1176 (PART OF TRACT 1 OF DEED)

TRACT 4 - 2.560 ACRES

PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK. II ESTATE

DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED)
MILDRED MILLER DB. 413 PG. 1176 (PART OF TRACT 1 OF DEED)

TRACT 5 - 10.286 ACRES

PART OF PARCEL 1 TAX MAP 91 JAMES (MARTY) MYRICK. II ESTATE

DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED)
MILDRED MILLER DB. 413 PG. 1175 (PART OF TRACT 1 OF DEED)

TRACT 6 - 28.440 ACRES

PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK, II ESTATE

DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED)
MILDRED MILLER

DB. 413 PG. 1175 (PART OF TRACT 1 OF DEED)

TRACT 7 - 4.646 ACRES

PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK, II ESTATE

DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED)
MILDRED MILLER

DB. 413 PG. 1176 (PART OF TRACT 1 OF DEED)

TRACT 8 - 3.778 ACRES

PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK, II ESTATE

DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED)
MILDRED MILLER DB. 413 PG. 1176 (PART OF TRACT 1 OF DEED)

TRACT 9 - 3.989 ACRES

PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK, II ESTATE DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED) MILDRED MILLER DB. 413 PG. 1176 (PART OF TRACT 1 OF DEED)

TRACT 10 - 3.970 ACRES

PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK, II ESTATE DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED) MILDRED MILLER DB. 413 PG. 1176 (PART OF TRACT 1 OF DEED)

TRACT 11 - 20.957 ACRES

PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK, II ESTATE DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED) MILDRED MILLER DB. 413 PG. 1175 (PART OF TRACT 1 OF DEED) (TO BE COMBINED WITH OTHER TRACT OR ADJOINING TRACT, NOT INTENDED TO BE AN INDEPENDENT TRACT)

TRACT 12 - 29.947 ACRES

PART OF PARCEL 1 TAX MAP 91
JAMES (MARTY) MYRICK, II ESTATE

DB. 413 PG. 1179 (PART OF TRACT 1 OF DEED)
MILDRED MILLER

DB. 413 PG. 1176 (PART OF TRACT 1 OF DEED)

(TO BE COMBINED WITH OTHER TRACT OR ADJOINING
TRACT, NOT INTENDED TO BE AN INDEPENDENT TRACT)

TOTAL ACREAGE TRACTS

1-12: 159.681 ACRES

ON-LINE AND OFF-SITE ADDITIONAL BIDDING TERMS

MARTY MYRICK AND MILDRED MILLER - HOUSE AND LAND AUCTION

1. 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 BIDDER TERMS AND ANY TERMS ANNOUNCED AT THE AUCTION).

2. AT THE CLOSE OF THE AUCTION, THE SUCCESSFUL ON-LINE OR OFF-SITE BIDDER WILL BE EMAILED A SALES AND PURCHASE AGREEMENT TO BE EXECUTED AND RETURNED TO ALEXANDER AUCTIONS & REAL ESTATE SALES WITHIN 48 HOURS OF COMPLETION OF THE AUCTION ALONG WITH THE EARNEST MONEY DEPOSIT.

3. THE SUCCESSFUL BIDDER IS REQUIRED TO MAKE AN EARNEST MONEY DEPOSIT ACCORDING TO THE GENERAL TERMS: 20% DOWN DAY OF AUCTION ON INDIVIDUAL TRACTS; 15% DOWN ON DAY OF AUCTION ON PURCHASES OVER $200,000.00.

4. EARNEST MONEY PAYABLE BY 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 TO ALEXANDER AUCTIONS & REAL ESTATE ESCROW. NO CREDIT CARD PAYMENTS ACCEPTED.

5. CLOSING DATE: BALANCE DUE WITHIN 30 DAYS UPON DELIVERY OF DEED.

6. FAILURE TO PAY THE BALANCE DUE WILL REQUIRE YOU TO FORFEIT YOUR EARNEST MONEY AND BE SUBJECT TO ALL TERMS STATED IN THE PURCHASE AGREEMENT.

7. LIQUIDATED DAMAGES: SUCCESSFUL BIDDERS NOT EXECUTING AND RETURNING THEIR PURCHASE AGREEMENT ALONG 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 COST INCURRED BY SELLER AND ALEXANDER AUCTIONS & REAL ESTATE SALES INCURRED IN A SUBSEQUENT RESALE OF THE PROPERTY. IF SUCH ACTION OCCURS, ALEXANDER AUCTIONS & REAL ESTATE SALES 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.

8. BACK-UP BIDS: IF YOU ARE NOT THE SUCCESSFUL BIDDER ON THE REAL ESTATE AND WISH TO MAKE A BACK-UP BID IN CASE OF DEFAULT BY THE HIGH BIDDER, PLEASE SEE ALEXANDER AUCTIONS & REAL ESTATE SALES TO RECEIVE A BACK-UP BIDDER FORM.

9. ALEXANDER AUCTIONS & REAL ESTATE SALES 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 ALL BIDDERS WILL BE VERIFIED, BIDDING RIGHTS ARE PROVISIONAL, AND IF COMPLETE VERIFICATION IS NOT POSSIBLE, ALEXANDER AUCTIONS & REAL ESTATE SALES WILL REJECT THE REGISTRATION, AND BIDDING ACTIVITY WILL BE TERMINATED.

10. ALEXANDER AUCTIONS & REAL ESTATE SALES INVOLVEMENT IN THIS CONTRACT: THE SELLER AND BUYER HEREBY AGREE THAT ALEXANDER AUCTIONS & REAL ESTATE SALES 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.

11. PROPERTY AND IMPROVEMENTS ARE BEING SOLD IN THEIR PRESENT CONDITION. NO IMPROVEMENTS WILL BE MADE. THERE ARE NO WARRANTIES OR GUARANTEES EXPRESSED OR IMPLIED AS TO CONDITION OR FITNESS FOR A PARTICULAR PURPOSE OR PARTICULAR USE.

12. PURCHASER IS TO MAKE THEIR OWN INSPECTION OF THE BUILDING, STRUCTURE AND LOTS AND BID ACCORDING TO THEIR INSPECTION AND DUE DILIGENCE RESEARCH.

RESTRICTIONS:

13. ALL REAL ESTATE SELLS SUBJECT TO ANY AND ALL EXISTING MATTER OF RECORD AND ALL EASEMENTS, CITY, COUNTY AND STATE, BUILDING, USE OR ZONING LAWS AND RESTRICTIONS.

14. PURCHASER(S) ARE INFORMED THAT THE SELLERS AND ALEXANDER AUCTIONS & REAL ESTATE SALES ARE NOT EXPERTS OR QUALIFIED TO OFFER ANY INFORMATION CONCERNING ENVIRONMENTAL HAZARDS, ASBESTOS HAZARDS, LEAD BASE PAINT AND ETC. AND MAKE NO WARRANTY, GUARANTEE OR STATEMENTS IN CONNECTION WITH SUCH.

15. AUCTIONEER & BROKER IS NOT AN EXPERT IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. PURCHASER ACCEPT THIS PROPERTY IN ITS PRESENT CONDITION, AGREE 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.

16. PURCHASER HAS HAD THE OPPORTUNITY TO INSPECT THE PROPERTY AND AGREES TO MAKE ALL BIDS AND PURCHASE SAID PROPERTY AS A RESULT OF THEIR INSPECTION.

17. ALEXANDER AUCTIONS & REAL ESTATE SALES AND ALL AGENTS ARE ACTING AS AN AGENT FOR THE SELLERS.

18. ANY REAL ESTATE TERMS AND INFORMATION SUPPLIED IN THE TERMS AND CONDITIONS

CONCERNING TAX AMOUNTS AND OTHER INFORMATION ARE SUPPLIED TO ACCOMMODATE THE PURCHASER(S). IT IS THE PURCHASER’S SOLE RESPONSIBILITY TO HAVE COMPLETED THEIR OWN DUE DILIGENCE SURVEY, RESEARCH, INSPECTION AND CHECKING AND SHALL BID ACCORDING TO THEIR RESEARCH.

19. 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, OR ANY OTHER INFORMATION THAT CEN BE OBTAINED AS PUBLIC RECORD IN THE APPROPRIATE COUNTY COURT HOUSE CONCERNING SUBJECT PROPERTIES.

20. TECHNICAL ISSUES: IN THE EVENT THERE ARE TECHNICAL DIFFICULTIES RELATED TO THE SERVER, SOFTWARE, INTERNET OR ANY OTHER ON-LINE AUCTION-RELATED TECHNOLOGIES, ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO EXTEND BIDDING, CONTINUE THE BIDDING OR CLOSE THE BIDDING. NEITHER THE COMPANY PROVIDING THE SOFTWARE, NOR ALEXANDER AUCTIONS & REAL ESTATE SALES, SHALL BE HELD RESPONSIBLE FOR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON.

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

22. PROPERTY IS BEING SOLD SUBJECT TO THESE TERMS WHICH WILL BE INCORPORATED INTO THE SALES CONTRACT FOR FUTURE REFERENCE.

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

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

Email: alexanderauctions@frontiernet.net

WEBSITE: www.alexanderauctions.com

EXHIBIT NO. 2

“MULTI PARCEL AUCTION RULES"

1. ALL BIDDERS AGREE TO REMAIN AT THE AUCTION UNTIL ALL LOTS ARE EITHER DECLARED SOLD INDIVIDUALLY OR IN COMBINATIONS OR THE SALE OF ANY OR ALL TRACTS ARE REJECTED.

2. ALL BIDS ARE TO REMAIN ACTIVE AND LIVE THROUGHOUT AUCTION.

3. ALL LOTS WILL BE OFFERED INDIVIDUALLY, IN COMBINATIONS, AND AS A WHOLE.

4. PURCHASER(S) CAN BID ON ANY COMBINATION OF TRACTS.

5. PURCHASER(S) SHALL BE ALLOWED TO BID ON ANY TRACT WHEN THEY ARE OFFERED INDIVIDUALLY OR AT ANY TIME THEREAFTER, REGARDLESS IF THEY ARE INVOLVED IN A COMBINATION OR NOT UNTIL THE END OF THE AUCTION.

6. A BIDDER COULD BE PUT OUT OF THE WINNING POSITION BY A COMBINATION BID OR RAISED INDIVIDUAL BIDS AND THEN A BIDDER CAN COME BACK INTO THE WINNING POSITION WHEN SOMEONE ELSE RAISES OTHER LOTS OR OTHER COMBINATION BIDS ARE MADE.

7. MINIMUM BID RAISES TO MAKE A NEW COMBINATION OF LOTS SHALL BE AT LEAST $500.00 OR 2% WHICHEVER IS GREATER.

9. A BIDDER CAN BID AND RAISE THE SALES PRICE ON ANY INDIVIDUAL LOT LISTED ON THE BOARD OR ANY COMBINATION LISTED ON THE BOARD AT ANY TIME AFTER THEY ARE OFFERED INDIVIDUALLY EVEN THOUGH THE AUCTIONEER MAY NOT BE ASKING FOR A BID ON THAT PARTICULAR LOT. THESE BIDS MAY BE LESS THAN THE MINIMUM RAISE STATED ABOVE BECAUSE THIS IS CONSIDERED TO BE HEADS UP BIDDING AND EACH INDIVIDUAL HAS THE SAME OPPORTUNITY.

10. TO MAKE A BID AND RAISE A BID AS STATED IN THE PREVIOUS NUMBER TURN YOUR BID INTO ONE OF THE RING PERSONNEL ALONG WITH YOUR BIDDER NUMBER SO THEY CAN BE ENTERED AND RECORDED.

11. THE COMPUTER WILL CALCULATE ALL INDIVIDUAL BIDS AND COMBINATION BIDS ARE IN THE WINNING POSITION DURING THE AUCTION. WHEN SOMEONE MAKES A HIGHER BID ON ALL THE LOTS AND ACREAGE AND THE BIDDING CEASES, THAT BID IS ENTERED IN THE COMPUTER.

12. THE AUCTIONEER WILL THEN ASK FOR RAISES ON INDIVIDUAL LOTS AND COMBINATIONS. WHEN INDIVIDUAL BIDS AND COMBINATION BIDS ARE RAISED AND THEY TOTAL MORE THAN THE TOTAL COMBINATION BID. ANYONE RAISING ALL THE LOTS AND ACREAGE MUST MAKE A BID ABOVE THE NEW TOTAL. WHEN THIS HAPPENS THE PROCESS STARTS ALL OVER.

12. IT IS POSSIBLE IN THIS AUCTION TO HAVE A TIE AMONG BIDDERS AT THE END OF THE AUCTION. IN THE EVENT NONE OF THE PURCHASERS WILL INCREASE THEIR BID, MARVIN E. ALEXANDER AND SELLERS SHALL MAKE THE DETERMINATION OF THE FINAL PURCHASER/PURCHASERS CONSIDERING THE TOTAL MONEY SPENT BY AN INDIVIDUAL AND/OR POSSIBLY THE TOTAL NUMBER OF LOTS PURCHASED.

MULTIPLE BIDDERS OR BY ONE BIDDER, THE MULTI-PAR PROGRAM TRACKS EACH INDIVIDUAL BID AND EACH COMBINATION TO REACH THE HIGHEST TOTAL.