ON-LINE AUCTION TERMS & CONDITIONS

COMMERCIAL BUILDING - 0N-LINE ONLY AUCTION

943 EAST MAIN STREET, MARTIN, TN 38237

BID NOVEMBER 19^TH through DECEMBER 9^TH ^~ 7:00 P.M. ~ 2014

REAL ESTATE DESCRIBED IN THESE TERMS WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITION OF SALE AND DESCRIPTION OF ITEMS LISTED BELOW AND IN THE INVENTORY MAY BE AMENDED, UPDATED, OR ALTERED AT ANY TIME BEFORE THE CLOSE OF THE AUCTION. THESE TERMS AND CONDITION OF SALE AND ANY CHANGES OR ADDITIONS SHALL BE BINDING ON ANY BIDDER WHETHER REPRESENTED PERSONALLY OR BY AN AGENT, ANY ABSENTEE BIDDER OR ON-LINE BIDDER. BUYER ARE BOUND BY THESE CONDITIONS OF SALE.

COMMERCIAL BUILDING AND LOTS LOCATED AT 943 EAST MAIN STREET, MARTIN, TN 38237

1. TERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS” AND “WHERE-IS” AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER, NOR THE SELLER MAKES ANY EXPRESSED OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER, NOR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE AUCTION OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES, & THE AUCTIONEER, MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM.

2. REGISTRATION: ALL PROSPECTIVE BIDDERS SHALL PRE-REGISTER FOR A BIDDING NUMBER AND GIVE EVIDENCE OF THEIR CREDIT WORTHINESS.

3. TO BE AN APPROVED ON-LINE BIDDER AT THIS AUCTION YOU MUST HAVE A VALID VISA OR MASTERCARD CREDIT CARD ON FILE. YOUR CREDIT CARD ON FILE WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION FOR THE FULL AMOUNT OF THE WINNING HAMMER PRICE, PLUS PREMIUMS.

4. . THE IDENTITY OF ALL BIDDERS WILL BE VERIFIED. BIDDING RIGHTS ARE PROVISIONAL, AND IF COMPLETE VERIFICATION IS NOT POSSIBLE. ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVE THE RIGHT TO PRECLUDE ANY PERSON FROM BIDDING.

5. BIDDER CONTRACT: THIS BIDDER CONTRACT ENTERED INTO BETWEEN THE BIDDER WHOSE NAME IS REGISTERED AND SHALL GOVERN THIS AUCTION AND HE/SHE AGREES WITH THEM. ADDITIONAL TERMS MAY BE POSTED OR ANNOUNCED FROM THE AUCTION BLOCK WHICH ARE JUST AS BINDING AS THE BELOW TERMS. LETTERS OF GUARANTEE MUST BE FOR THIS AUCTION ONLY, ALONG WITH PROOF OF IDENTITY. BIDDER AGREES NOT TO STOP PAYMENT ON CHECKS OR DISALLOW A BANK DRAFT AND IS RESPONSIBLE FOR ANY EXPENSES DUE TO COLLECTION OF BAD CHECK. IN THE EVENT OF NON-PAYMENT OF BAD CHECK, THE AUCTIONEER RESERVES THE RIGHT TO REPOSSESS AT ANY TIME, AT YOUR LOCATION, THE REAL ESTATE/MERCHANDISE INVOLVED.

6. REAL ESTATE LOCATED 18^TH AND 2^ND CIVIL DISTRICTS OF WEAKLEY COUNTY, TN.

7. PROPERTY DESCRIPTION: SEE EXHIBIT “A” FOR LEGAL DESCRIPTIONS TO BE INCLUDED IN PURCHASER’S DEED.

TRACT NO. 1: BUILDING AND LOT ~ 99 FT. X 150 FT. X 102 FT. X 178 FT.

TRACT NO 2: 158 FT X 90 FT. VACANT LOT ON EAST MAIN STREET/HWY. 431

8. REAL ESTATE DEED REFERENCE: DEED BOOK 419, PAGE 777-779, REGISTER’S OFFICE OF WEAKLEY COUNTY, TN

9. 2014 TAXES WILL BE PAID BY SELLER. 2015 TAXES WILL BE ASSUMED BY PURCHASER.

10. DEED TRANSFER WILL BE BY A TRUSTEE’S DEED PAID FOR BY THE SELLER.

11. PROSPECTIVE PURCHASER(S) SHOULD REVIEW THE PROPERTY TO BECOME FAMILIAR WITH THE PROPERTY DIVISIONAL LINES

12. REAL ESTATE PROPERTY TAXES:

13. TRACT NO. 1: COMMERCIAL BUILDING & LOT ~ MAP 79, PARCEL 4.01 TAX ASSESSOR’S OFFICE WEAKLEY COUNTY, TN

COUNTY: 2014 TAXES: $ 2,733.00

CITY: 2014 TAXES: $1,927.00

TRACT NO. 2: VACANT LOT ~ MAP 79, PARCEL 4.08 TAX ASSESSOR’S OFFICE WEAKLEY COUNTY, TN

COUNTY: 2014 TAXES: $ 66.00

CITY: 2014 TAXES: 47.00

MAP 79, PARCEL 4.10 TAX ASSESSOR’S OFFICE WEAKLEY COUNTY, TN

COUNTY: 2014 TAXES: $44.00

CITY: 2014 TAXES: $31.00

14. POSSESSION OF PROPERTY WILL BE GIVEN UPON DELIVERY OF DEED.

15. ALL BIDS ARE SUBJECT TO ACCEPTANCE BY THE AUCTIONEER. NO BID SHALL BE DEEMED A VALID BID UNTIL ACCEPTED BY THE AUCTIONEER. ALL BIDS ARE ACCEPTED AT THE SOLE DISCRETION OF THE AUCTIONEER.

16. ALL BIDS SHALL BE DEEMED PENDING UNTIL DULY ACCEPTED BY THE AUCTIONEER.

17. AUCTION ENDING: ALEXANDER AUCTIONS & REAL ESTATE SALES ON-LINE AUCTIONS ARE TIMED EVENTS AND ALL BIDDING WILL CLOSE AT A SPECIFIED TIME. ALEXANDER AUCTIONS & REAL ESTATE SALE ON-LINE AUCTIONS HAVE AN AUTO-EXTEND FEATURE. 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. THE AUTO-EXTEND FEATURE REMAINS ACTIVE UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE MINUTE TIME FRAME.

18. ALEXANDER AUCTIONS & REAL ESTATE SALE MAY INCREASE OR DECREASE THE EXTENDED TIME AMOUNT AT ANY TIME UNTIL THE CLOSE OF BIDDING.

19. THE AUCTIONEER HAS THE SOLE DISCRETION TO ADVANCE THE BIDDING AND MAY REJECT ANY AND ALL BIDS WHICH, IN THE AUCTIONEER’S SOLE DISCRETION, DO NOT ADVANCE AND/OR ARE INJURIOUS TO THE AUCTION, INCLUDING BUT NOT LIMITED TO NOMINAL, SUSPICIOUS AND/OR SUSPECT ADVANCES.THE AUCTIONEER WILL DETERMINE THE HIGHEST BID RECEIVED AND THE BUYER OF THE ITEM.

20. ALL ITEMS ARE SUBJECT TO SELLER’S CONFIRMATION UNLESS NOTED AS ABSOLUTE.ALEXANDER AUCTIONS RETAINS THE RIGHT TO WITHDRAW OR REGROUP ANY REAL ESTATE OR ANY ITEM IN THE AUCTION.

21. ALEXANDER AUCTION RESERVES THE RIGHT TO REJECT ANY AND ALL BIDS FOR ANY REASON. ALEXANDER AUCTIONS RESERVES THE RIGHT TO CANCEL THE AUCTION OF ANY REAL ESTATE OR ANY ITEM EVEN IF A BID HAS BEEN PLACED.

22. ALEXANDER AUCTIONS RESERVES THE RIGHT TO CHANGE THE ORDER OF AUCTION AS THEY SEE FIT.

23. ALEXANDER AUCTIONS IS NOT RESPONSIBLE AND IS NOT LIABLE FOR ANY BIDS WHICH DO NOT GET SUBMITTED.

24. BUYER’S PREMIUM RATES

A. A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID ON REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE BEING PAID FOR BY CASH, CASHIER’S CHECK, CERTIFIED FUNDS, WIRE TRANSFER OR PERSONAL CHECK.

B. 13% BUYER’S PREMIUM WILL BE ADDED TO THE FINAL BID ON REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE WHICH IS NOT PAID FOR BY CASH, CASHIER’S CHECK, CERTIFIED FUNDS, WIRE TRANSFER OR PERSONAL CHECK. WE ACCEPT VISA AND MASTER CARD ONLY.

25. REAL ESTATE PURCHASE AGREEMENT/CONTRACT: PURCHASER MUST SIGN THE REAL ESTATE PURCHASE AGREEMENT/CONTRACT WITHIN 24 HOURS AFTER THE CLOSE OF THE AUCTION.

26. 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.

27. EARNEST MONEY AND CLOSING PROCEEDS 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.

28. REAL ESTATE 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. CLOSING IS TO ACCRUE IN WEAKLEY OR OBION COUNTY. LOCATION TO BE DETERMINED BY SELLER.

29. THE INTERIOR OF THE BUILDING IS IN NEED OF DEFERRED MAINTENANCE INCLUDING REPAIRS AND DECORATING. 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.

30. PURCHASER IS TO MAKE THEIR OWN INSPECTION OF THE BUILDING INCLUDING BUT NOT LIMITED TO THE ROOF, WALLS & INTERIOR, ELECTRICAL, PLUMBING, HEAT AND AIR CONDITIONING, AND BID ACCORDING TO THEIR INSPECTION AND DUE DILIGENCE RESEARCH. CONDITION OF THE COMPONENTS ARE UNKNOWN BY ALEXANDER AUCTIONS AND OWNER.

31. SELLER WILL NOT MAKE ANY REPAIRS AND IMPROVEMENTS TO THE PROPERTY.

32. NO ONE SHOULD MAKE A BID THAT HE/SHE DOES NOT WANT TO HONOR OR IS NOT FINANCIALLY ABLE TO HONOR. THERE IS NO CONTINGENCY IN THE CONTRACT SUBJECT TO THE PURCHASER OBTAINING LONG TERM FINANCING, APPRAISALS, OR INSPECTIONS AFTER THE AUCTION.

33. EARNEST MONEY AND BECOME SUBJECT TO ALL TERMS STATED IN THE PURCHASER AGREEMENT/CONTRACT.

34. AUCTION BIDDER AND/OR BUYER DEFAULT: SUCCESSFUL BIDDER AND OR BUYER NOT EXECUTING AND RETURNING THE CONTRACT WITH EARNEST MONEY DEPOSIT WITHIN 24 HOURS OF THE CONCLUSION OF THE AUCTION WILL BE CONSIDERED IN DEFAULT. IN THE EVENT A WINNING BIDDER AND OR BUYER FAILS TO SUBMIT THE SIGNED CONTRACT FOR SALE OF REAL ESTATE AND EARNEST MONEY DEPOSIT, THE WINNING BIDDER AND OR BUYER SHALL PAY TO ALEXANDER AUCTIONS & REAL ESTATE SALES AS DAMAGES, AN AMOUNT EQUAL TO THE BUYER'S PREMIUM OR COMMISSION PERCENTAGE, AS SET FORTH IN SAID CONTRACT, AND ANY AND ALL EXPENSES INCURRED BY THE SAID ALEXANDER AUCTIONS & REAL ESTATE SALES FOR SAID AUCTION. SHOULD BUYER'S EARNEST MONEY CHECK BE RETURNED FOR ANY REASON WHATSOEVER, THIS SHALL CONSTITUTE AN ITEM OF DEFAULT, AND IN ADDITION TO THE REMEDIES PREVIOUSLY STATED HEREIN ABOVE, BUYER SHALL ALSO PAY AN ADDITIONAL PENALTY OF FIVE PERCENT (5%) OF THE EARNEST MONEY CHECK TO ALEXANDER AUCTIONS & REAL ESTATE SALES. BUYER SHALL ALSO PAY A REASONABLE ATTORNEY'S FEE AND COSTS INCURRED IN THE COLLECTION OF THESE MONIES OWED BY BUYER AS A RESULT OF BUYER'S DEFAULT. BUYER SHALL ALSO PAY THE SELLER ANY DAMAGES CAUSED BY SAID BREACH OF CONTRACT, INCLUDING ATTORNEY'S FEES AND COSTS. THIS SHALL NOT PRECLUDE THE SELLER FROM SUING FOR SPECIFIC PERFORMANCE OF THE CONTRACT OF SALE, IN ADDITION TO SAID DAMAGES. IT IS SPECIFICALLY UNDERSTOOD AND AGREED BY AND BETWEEN THE SELLER AND ALEXANDER AUCTIONS & REAL ESTATE SALES THAT IN THE EVENT THE BUYER SHOULD DEFAULT IN THE TERMS OF THIS CONTRACT IN ANY MANNER WHATSOEVER, THAT THE EARNEST MONEY, OR SUFFICIENT SUMS THEREFORE, SHALL BE PAID FIRST TO THE AGENT FOR THE BUYER'S PREMIUM OR COMMISSION PERCENTAGE, AND THE BALANCE, IF ANY, TO THE SELLER. ANY DISPUTES WILL BE TRIED IN A COURT OF JURISDICTION IN WEAKLEY COUNTY, TENNESSEE. ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER AND OR BUYER. IN THE EVENT THE SUCCESSFUL HIGH BIDDER AND OR BUYER DOES NOT COMPLY WITH THE TERMS OF THE SALE. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH. THE CONTRACT IS REQUIRED TO BE FULLY AND CORRECTLY COMPLETED, WITHOUT ANY MODIFICATIONS AND PROPERLY SIGNED. A CONTRACT THAT IS INCOMPLETE, INCORRECT, OR MODIFIED IN ANY RESPECT, IS CONSIDERED TO BE IN DEFAULT.

35. PURCHASER IS RESPONSIBLE FOR PAYMENT OF ALL THEIR CLOSING COST, RECORDING FEES, STATE DEED TRANSFER TAXES, TITLE OPINION, AND TITLE POLICY IF DESIRED.

36. 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!

37. REAL ESTATE SELLS SUBJECT TO EXISTING EASEMENTS INCLUDING BUT NOT LIMITED TO SHOPPING CENTER EASEMENTS FOR PARKING AND ACCESS.

38. PROPERTY IS ZONED B-2, CENTRAL BUSINESS INTERMEDIATE.

39. PROPERTY SELLS SUBJECT TO ANY CITY, COUNTY AND STATE ZONING RESTRICTIONS THAT EXIST.

40. AUCTIONEER & BROKER IS NOT AN EXPERT OR QUALIFIED IN DETERMINING ENVIRONMENTAL HAZARDS AND HAZARDOUS MATERIAL. PURCHASER ACCEPT 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.

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

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

43. 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 DUE DILIGENCE SURVEY AND RESEARCH.

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

45. 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.

46. SERVER & SOFTWARE TECHNICAL ISSUES: IN THE EVENT THAT THERE ARE TECHNICAL DIFFICULTIES RELATED TO THE SERVER, SOFTWARE OR ANY OTHER ONLINE 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 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.

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

48. THE DESCRIPTIONS OF THE REAL ESTATE APPEARING IN ADVERTISING AND AUCTION CATALOG PRIOR TO THIS AUCTION ARE BELIEVED TO BE CORRECT. NEVERTHELESS, NEITHER THOSE DESCRIPTIONS NOR ANY ORAL STATEMENTS MADE BY THE OWNER (OR HIS AGENTS OR OFFICERS) OR THE AUCTIONEERS (OR HIS AGENTS OR OFFICERS) CONCERNING REAL ESTATE OR ANY ITEM SHALL BE CONSTRUED AS WARRANTY, EITHER EXPRESSED OR IMPLIED, BIDDER AGREES TO INSPECT THE ITEMS THEY ARE BIDDING ON AND TO SATISFY THEMSELVES AS TO THE PROPER NAME, AGE AND CONDITION OF THE ITEM. I, THE BIDDER, HAVE EXAMINED THIS MERCHANDISE AND ACCEPT IT IN “AS IS” CONDITION.

49. DISPUTES: THE AUCTIONEER SHALL DESIGNATE THE WINNING BIDDER FOR THE REAL ESTATE AND ANY ITEM AFTER EACH ITEM IS AUCTIONED. IF A DISPUTE ARISES BETWEEN TWO OR MORE BIDDERS, THE AUCTIONEER RESERVES THE RIGHT TO REOPEN THE BIDDING. THE AUCTIONEER’S DESIGNATION OF A BUYER SHALL BE FINAL.

50. FAILURE TO COMPLY: IF SUCCESSFUL BIDDER FAILS TO COMPLY WITH WRITTEN AGREEMENT OR PAYMENT AS REQUIRED, THE SUCCESSFUL BIDDER SHALL BE LIABLE TO DEFICIENCY IN SELLING PRICE, ATTORNEY FEES, OR ANY OTHER DAMAGES THEY MAY OCCUR AS RESULT OF NONCOMPLIANCE BY BIDDER.

51. ANY DISPUTE BETWEEN ALEXANDER AUCTIONS & REAL ESTATE SALES, ITS AGENTS OR REPRESENTATIVES AND THE BUYER(S) WILL BE TRIED IN A COURT OF JURISDICTION IN WEAKLEY COUNTY, TN. BY BIDDING ON ANY ITEM, BUYER AGREES TO ALL TERMS AND CONDITION SET FORTH. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.

52. ATTORNEY FEES: IN AN ACTION OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT, THE PREVAILING PARTY SHALL BE ENTITLED TO REASONABLE ATTORNEY FEES AND COST.

53. HOLD HARMLESS: BUYER AND OR BIDDER AGREES TO HOLD HARMLESS ALEXANDER AUCTIONS & REAL ESTATE SALES AND ITS AGENTS, OWNERS, DIRECTORS, EMPLOYEES AND ITS REPRESENTATIVES FROM ANY AND ALL CLAIM DAMAGES OR SUITS INCLUDING BUT NOT LIMITED TO AWARDS, JUDGMENTS, COST, FEES, ETC.

54. AGENCY: THE AUCTIONEERS ARE ACTING AS THE OWNER’S AGENT ONLY.

55. RESERVE: THIS REAL ESTATE IS BEING SOLD WITH RESERVE. THE SELLER AND THEIR AGENTS, HEREBY, RESERVE THE RIGHT TO BID AT TODAY’S AUCTION. IF REAL ESTATE DOES NOT MEET SET PRICE, EITHER TRACT OF REAL ESTATE MAY BE PASSED OR SELLER MAY CONFIRM PRICE.

56. WRITTEN MATERIAL: ANY WRITTEN MATERIAL SUPPLIED TO YOU SHOULD BE USED AS A GUIDE ONLY. REAL ESTATE HAS BEEN IDENTIFIED AND DESCRIBED BASED ON INFORMATION AVAILABLE TO US AND IS BELIEVED TO BE ACCURATE, HOWEVER, NO WARRANTY OR GUARANTEE IS MADE TO THIS.

57. ABSENTEE BIDDERS: AUCTIONEER MAY BID OR HAVE SOMEONE BID ON BEHALF OF ABSENTEE BIDDER. CREDIT CARD NUMBER MUST BE LEFT WITH MARKNET AND ALEXANDER AUCTIONS UNLESS BIDDER HAS MADE DIFFERENT ARRANGEMENTS WITH ALEXANDER AUCTIONS & REAL ESTATE SALES.

58. BIDDERS WHO BID OFF-SITE OR DO NOT MAKE A PERSONAL INSPECTION OR PREVIEW, UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT THE REAL ESTATE 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.

59. ALEXANDER AUCTIONS IS PROVIDING INTERNET ON-LINE 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 AUCTION.

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

61. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD USE THE PROXY-BIDDING FEATURE AND LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION ENDS.

62. THE REAL ESTATE IS AVAILABLE FOR YOUR VIEWING BEFORE THE REAL ESTATE IS OFFERED FOR AUCTION. YOU SHOULD MAKE AN INSPECTION OF THE PROPERTY BEFOREHAND SO THAT YOU ARE SATISFIED WITH ITS CONDITION. ANY AND ALL INSPECTIONS THAT A BUYER MAY WANT MUST BE COMPLETED AT BUYER’S EXPENSE PRIOR TO THE CLOSE OF THE ON-LINE BIDDING. ALEXANDER AUCTIONS & REAL ESTATE SALES, AGENTS, REPRESENTATIVES OR EMPLOYEES MAY BID. ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER AND OR BUYER IF THE WINNING BIDDER AND OR BUYER IS IN DEFAULT OF THESE ITEMS. WINNING BIDDER AND OR BUYER MUST EXECUTE THE PURCHASE AGREEMENT/CONTRACT WITH NO CHANGES, MODIFICATION, ADDITIONS, OR DELETION.

63. BIDDER RESPONSIBILITIES: BIDDER RESPONSIBILITIES INCLUDE, BUT ARE NOT LIMITED TO: BIDDERS AGREE TO KEEP THEIR USERNAME AND PASSWORD CONFIDENTIAL, AS THY 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. AUCTION COMPANY EMPLOYEES AND/OR AUCTION COMPANY MAY BID ON AUCTION. WE GATHER AGGREGATE INFORMATION FROM THE WEB SITE WHICH MAY INCLUDE BUT IS NOT LIMITED TO: NUMBER OF PAGE VISITORS, MOST VISITED PAGES, AND ANY AND ALL CORRESPONDENCE.

64. GUARANTY AGREEMENT: BY SUBMITTING A BID IN THE NAME OF A BUSINESS ENTITY OR CORPORATION, THE INDIVIDUAL SUBMITTING THE BID ENTERS INTO A GUARANTY AGREEMENT WHEREBY HE OR SHE PERSONALLY GUARANTEE EARNEST MONEY AN FULL PAYMENT TO ALEXANDER AUCTIONS & REAL ESTATE SALES.

65. AGE REQUIREMENT: ALL BIDDERS MUST BE EIGHTEEN (18) YEARS OF AGE OR OLDER.

66. CONDUCT OF AUCTION: ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT, WITHOUT GIVING ANY REASON, TO PUT UP REAL ESTATE OR TRACTS OUT OF NUMERICAL SEQUENCE AND TO WITHDRAW ANY TRACT OR REAL ESTATE FROM THE AUCTION.

67. 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.

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

69. ANY PROSPECTIVE BIDDER WHO REGISTERS FOR A BIDDER’S NUMBER AND BIDS ACCEPTS THESE TERMS AND ANY ADDITIONAL TERMS ANNOUNCED DURING THE AUCTION.

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, Auctioneer TL9, FL 107

239 University Street * P.O. Box 129, MARTIN TN 38237 * (731) 587-4244

Email: alexanderauctions@frontiernet.net

AMENDMENT “A”

REAL ESTATE LEGAL DESCRIPTIONS

TRACT NO. 1:

BEGINNING AT A BEND IN THE NORTH SIDE OF THE SIDEWALK RUNNING ALONG THE FRONT OF THE RESTAURANT BUILDING, SAID POINT BEING IN THE EAST LINE EXTENDED OF SAID RESTAURANT BUILDING: THENCE SOUTH 150 FEET WITH SAID EAST BUILDING LINE TO A POINT IN THE NORTH MARGIN OF A 20 FOOT WIDE STREET; THENCE WEST ABOUT 102 FEET WITH THE NORTH MARGIN OF SAID STREET TO A POINT, SAID PONT BEING IN LINE WITH THE WEST WALL OF SAID RESTAURANT BUILDING; THENCE NORTH ABOUT 178 FEET WITH SAID WEST WALL TO A POINT IN THE NORTH MARGIN OF THE SIDEWALK; THENCE EAST 99 FEET WITH THE NORTH MARGIN OF SAID SIDEWALK TO THE BEGINNING CORNER.

A STRIP OF LAND WHICH IS APPROXIMATELY 10 FOOT IN WIDTH BY APPROXIMATELY 156.5 FEET IN LENGTH, LOCATED ALONG THE EAST SIDE OF A TRACT SOLD TO SCHWAN’S SALES ENTERPRISE, INC. OF RECORD IN DEED BOOK 267, PAGE 3941, ROWCT.

BEING A PART OF THE COMMERCIAL PROPERTY LOCATED IN HAPPY TOWN SHOPPING CENTER, A PLAT OF WHICH IS OF RECORD IN THE REGISTER’S OFFICE, WEAKLEY COUNTY, TENNESSEE, IN PLAT BOOK 2, PAGE 67, REFERENCE TO WHICH IS HEREBY MADE FOR A MORE COMPLETE DESCRIPTION OF THE PARKING AREA, STREETS AND ALLEYS IN SAID SUBDIVISION AND THIS CONVEYANCE IS SUBJECT TO THE SAME AND IS INTENDED TO GRANT ALL RIGHT AFFORDED OCCUPANTS OF THE SHOPPING CENTER REGARDING PARKING, ETC.

TRACT 2:

BEGINNING AT A STAKE AT BILLY R. WILSON’S (FORMERLY LEX MAXEY) SOUTHEAST CORNER ON THE NORTH LINE OF PROPERTY OWNED BY GALLIMORE, MCCREIGHT, AND DAMRON, AND RUNS THENCE SOUTH 64 DEGREES 45 MINUTES EAST 108 FEET WITH THEIR NORTH LINE TO THEIR INSIDE CORNER; THENCE NORTH 25 DEGREES 15 MINUTES EAST 90 FEET WITH THE WEST LINE OF GALLIMORE, MCCREIGHT, AND DAMRON TO THEIR NORTHWEST CORNER ON THE SOUTH RIGHT OF WAY LINE OF TENNESSEE HIGHWAY 431 (FORMERLY HIGHWAY 22); THENCE NORTH 64 DEGREES 45 MINUTES WEST 108 FEET WITH THE SOUTH RIGHT OF WAY LINE OF TENNESSEE HIGHWAY 431 TO A STAKE AT BILLY R. WILSON’S (FORMERLY LEX MAXEY) NORTHEAST CORNER; THENCE SOUTH 25 DEGREES 15 MINUTES WEST 90 FEET WITH WILSON’S EAST LINE TO THE POINT OF BEGINNING. MAP 79, PARCEL 4.10

BEGINNING AT WADE’S NORTHEAST CORNER ON THE SOUTH RIGHT OF WAY MARGIN OF STATE HIGHWAY 22, BEING THE NORTHWEST CORNER OF THE LOT DESCRIBED; THENCE SOUTH 25 DEGREES 15 MINUTES WEST 90 FEET WITH WADE’S EAST LINE TO THE SOUTHWEST CORNER OF THE LOT DESCRIBED; THENCE SOUTH 64 DEGREES 45 MINUTES EAST 50 FEET AND PARALLEL WITH THE HIGHWAY TO THE SOUTHEAST CORNER OF THE LOT DESCRIBED; THENCE NORTH 25 DEGREES 15 MINUTES EAST 90 FEET TO THE SOUTH RIGHT OF WAY MARGIN OF THE HIGHWAY; THENCE NORTH 64 DEGREES 4 MINUTES WEST 50 FEET WITH THE SOUTH RIGHT OF WAY MARGIN OF THE HIGHWAY TO THE POINT OF BEGINNING. MAP 79, PARCEL 4.08

BEING A PART OF THE COMMERCIAL PROPERTY LOCATED IN HAPPY TOWN SHOPPING CENTER, A PLAT OF WHICH IS OF RECORD IN THE REGISTER’S OFFICE, WEAKLEY COUNTY, TENNESSEE, IN PLAT BOOK 2, PAGE 67, REFERENCE TO WHICH IS HEREBY MADE FOR A MORE COMPLETE DESCRIPTION OF THE PARKING AREA, STREETS AND ALLEYS IN SAID SUBDIVISION AND THIS CONVEYANCE IS SUBJECT TO THE SAME AND IS INTENDED TO GRANT ALL RIGHT AFFORDED OCCUPANTS OF THE SHOPPING CENTER REGARDING PARKING, ETC.

IT BEING THE SAME CONVEYED TO REELFOOT BANK BY DEED IN LIEU OF FORECLOSURE OF JESSIE R. JAMES AND WIFE, MARK K. JAMES, ALSO KNOWN AS MARY A. JAMES DATED JUNE 8, 2011, AND RECORDED IN BOOK D419, PAGE 777, ROWCT.

RESTAURANT & PERSONAL PROPERTY ON-LINE ONLY AUCTION TERMS

943 EAST MAIN STREET, MARTIN, TN 38237

BIDDING STARTS NOVEMBER 19^TH AND ENDS DECEMBER 9^TH ~ 7 P.M.

PROPERTY DESCRIBED IN THESE TERMS WILL BE OFFERED UNDER THE FOLLOWING TERMS AND CONDITIONS OF SALE, WHICH TERMS AND CONDITION OF SALE AND DESCRIPTION OF ITEMS LISTED BELOW AND IN THE INVENTORY MAY BE AMENDED, UPDATED, OR ALTERED AT ANY TIME BEFORE THE CLOSE OF THE AUCTION. THESE TERMS AND CONDITION OF SALE AND ANY CHANGES OR ADDITIONS SHALL BE BINDING ON ANY BIDDER WHETHER REPRESENTED PERSONALLY OR BY AN AGENT, ANY ABSENTEE BIDDER OR ON-LINE BIDDER. BUYER ARE BOUND BY THESE CONDITIONS OF SALE.

1. TERMS OF SALE: ALL PROPERTY IS SOLD “AS-IS” AND “WHERE-IS” AND NEITHER ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER, NOR THE SELLER MAKES ANY EXPRESSED OR IMPLIED WARRANTY OR REPRESENTATION OF ANY KIND OR NATURE WITH RESPECT TO THE PROPERTY BEING SOLD. IN NO EVENT SHALL ALEXANDER AUCTIONS & REAL ESTATE SALES, THE AUCTIONEER, NOR THE SELLER BE RESPONSIBLE FOR THE CORRECTNESS OF OR BE DEEMED TO HAVE MADE ANY REPRESENTATION OR WARRANTY OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, DESCRIPTION, SIZE, GENUINENESS, YEAR OF MANUFACTURE, ATTRIBUTION, PROVENANCE OR CONDITION CONCERNING THE PROPERTY OR ANY WARRANTY THAT ANY ITEM COMPLIES WITH ANY APPLICABLE FEDERAL OR STATE LAWS. NO STATEMENT SET FORTH IN THE ATTACHED LIST OR MADE AT THE AUCTION OR IN THE BILL OF SALE OR INVOICE OR ELSEWHERE, WHETHER ORAL OR WRITTEN, SHALL BE DEEMED SUCH A WARRANTY OR REPRESENTATION OR AN ASSUMPTION OF LIABILITY. ALEXANDER AUCTIONS & REAL ESTATE SALES, & THE AUCTIONEER, MAKES NO REPRESENTATION OR WARRANTY AS TO THE ACCURACY OF THE DESCRIPTIONS OR REPRESENTATIONS WHICH WERE PROVIDED BY THE SELLER AND ARE LISTED ON THE ATTACHED OR AS TO THE CONDITION OF THE ITEM.

2. REGISTRATION: ALL PROSPECTIVE BIDDERS SHALL BE PRE-REGISTER FOR A BIDDING NUMBER AND GIVE EVIDENCE OF THEIR CREDIT WORTHINESS.

3. THE IDENTITY OF ALL BIDDERS WILL BE VERIFIED. BIDDING RIGHTS ARE PROVISIONAL, AND IF COMPLETE VERIFICATION IS NOT POSSIBLE. ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVE THE RIGHT TO PRECLUDE ANY PERSON FROM BIDDING.

4. ALL BIDS ARE SUBJECT TO ACCEPTANCE BY THE AUCTIONEER. NO BID SHALL BE DEEMED A VALID BID UNTIL ACCEPTED BY THE AUCTIONEER. ALL BIDS ARE ACCEPTED AT THE SOLE DISCRETION OF THE AUCTIONEER.

5. IF YOU ARE THE SUCCESSFUL BIDDER, YOU AGREE TO PAY THE AMOUNT OF YOUR BID PLUS ALL BUYER’S PREMIUMS, TAXES IF APPLICABLE, LOADING AND MOVING EXPENSES IN ACCORDANCE WITH ALL WRITTEN OR ORAL TERMS AND CONDITIONS OF THE AUCTION.

6. ALL BIDS SHALL BE DEEMED PENDING UNTIL DULY ACCEPTED BY THE AUCTIONEER.

7. AUCTION ENDING: ALEXANDER AUCTIONS & REAL ESTATE SALES ON-LINE AUCTIONS ARE TIMED EVENTS AND ALL BIDDING WILL CLOSE AT A SPECIFIED TIME. ALEXANDER AUCTIONS & REAL ESTATE SALE ON-LINE AUCTIONS HAVE AN AUTO-EXTEND FEATURE. 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. THE AUTO-EXTEND FEATURE REMAINS ACTIVE UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE MINUTE TIME FRAME.

8. ALEXANDER AUCTIONS & REAL ESTATE SALE MAY INCREASE OR DECREASE THE EXTENDED TIME AMOUNT AT ANY TIME UNTIL THE CLOSE OF BIDDING.

9. THE AUCTIONEER HAS THE SOLE DISCRETION TO ADVANCE THE BIDDING AND MAY REJECT ANY AND ALL BIDS WHICH, IN THE AUCTIONEER’S SOLE DISCRETION, DO NOT ADVANCE AND/OR ARE INJURIOUS TO THE AUCTION, INCLUDING BUT NOT LIMITED TO NOMINAL, SUSPICIOUS AND/OR SUSPECT ADVANCES. THE AUCTIONEER WILL DETERMINE THE HIGHEST BID RECEIVED AND THE BUYER OF THE ITEM.

10. ALL ITEMS ARE SUBJECT TO SELLER’S CONFIRMATION UNLESS NOTED AS ABSOLUTE. ALEXANDER AUCTIONS RETAINS THE RIGHT TO WITHDRAW OR REGROUP ANY REAL ESTATE OR ANY ITEM IN THE AUCTION.

11. ALEXANDER AUCTION RESERVES THE RIGHT TO REJECT ANY AND ALL BIDS FOR ANY REASON. ALEXANDER AUCTIONS RESERVES THE RIGHT TO CANCEL THE AUCTION OF ANY REAL ESTATE OR ANY ITEM EVEN IF A BID HAS BEEN PLACED.

12. ALEXANDER AUCTIONS RESERVES THE RIGHT TO CHANGE THE ORDER OF AUCTION AS THEY SEE FIT.

13. ALEXANDER AUCTIONS IS NOT RESPONSIBLE AND IS NOT LIABLE FOR ANY BIDS WHICH DO NOT GET SUBMITTED.

14. BUYER’S PREMIUM RATES

A. A 10% BUYER'S PREMIUM WILL BE ADDED TO THE FINAL BID ON REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE BEING PAID FOR BY CASH, CASHIER’S CHECK, CERTIFIED FUNDS, WIRE TRANSFER OR PERSONAL CHECK.

B. 13% BUYER’S PREMIUM WILL BE ADDED TO THE FINAL BID ON REAL ESTATE TO REACH THE TOTAL SALES PRICE AND TOTAL CONTRACT PRICE WHICH IS NOT PAID FOR BY CASH, CASHIER’S CHECK, CERTIFIED FUNDS, WIRE TRANSFER OR PERSONAL CHECK. WE ACCEPT VISA AND MASTER CARD ONLY.

15. ON-LINE & ABSENTEE BIDDING: YOUR CREDIT CARD WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION FOR ANY PERSONAL PROPERTY YOU PURCHASE.

16. IF YOUR CREDIT CARD IS DENIED THERE WILL A $30.00 CHARGE DUE ALEXANDER AUCTIONS & REAL ESTATE SALES.

17. PERSONAL PROPERTY PAYMENT: PAYMENT MUST BE MADE ON ALL PURCHASES IN FULL AT SALE CONCLUSION. ALL PROSPECTIVE BIDDERS SHOULD PRE-REGISTER FOR A BIDDING NUMBER AND GIVE EVIDENCE OF THEIR CREDIT-WORTHINESS. ALL PAYMENTS ARE TO BE MADE IN U.S. CURRENCY. ALL BUYERS AGREE TO PAY FOR THEIR PURCHASES NO LATER THAN THE DAY OF THE AUCTION, UNLESS OTHER ARRANGEMENTS HAVE BEEN MADE, BY CASHIER’S BANK CHECK, CERTIFIED BANK CHECK, OR IRREVOCABLE LETTER OF CREDIT OF GUARANTEE ALEXANDER AUCTIONS & REAL ESTATE SALES, REQUIRED OF ALL PURCHASERS NOT PERSONALLY KNOWN BY THE AUCTION COMPANY. PURCHASERS WHO WISH TO PAY BY PERSONAL CHECK MUST BE CLEARED BY ALEXANDER AUCTIONS & REAL ESTATE SALES OR BY OWNER.

18. ON-LINE & ABSENTEE BIDDING: YOUR CREDIT CARD WILL BE CHARGED IMMEDIATELY FOLLOWING THE AUCTION FOR ANY PERSONAL PROPERTY YOU PURCHASE.

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

20. 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.

21. SERVER & SOFTWARE TECHNICAL ISSUES: IN THE EVENT THAT THERE ARE TECHNICAL DIFFICULTIES RELATED TO THE SERVER, SOFTWARE OR ANY OTHER ONLINE 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 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.

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

23. WARRANTY: ALL ITEMS ARE SOLD AS IS, WHERE IS, WITHOUT GUARANTEE OF ANY KIND. NO WARRANTY OF QUALITY, CONDITION, MERCHANTABILITY, OR FITNESS FOR INTENDED USE OR ANY PARTICULAR PURPOSE OR PARTICULAR USE IS GIVEN. ALL MERCHANDISE IS EITHER NEW, USED OR SALVAGE. ALL SALES ARE FINAL!! NO RETURNS OR CHARGE BACKS ALLOWED!! RETURNS AND CHARGE BACKS WILL RESULT IN A BLACK FLAG WITH MARKNET.

24. DESCRIPTION TAKE PRECEDENCE OVER THE PICTURE.

25. RESTAURANT TABLES, CHAIRS, AND ALL OTHER ITEMS ARE USED. SOME ITEMS MAY BE FOR PARTS AND OTHER SALVAGE ONLY.

26. ALL PROPERTY IS SOLD “AS IS”. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE THE NATURE, CONDITION AND STATE OF TITLE OF EACH ITEM PURCHASED. THERE SHALL BE NO RETURNS OR EXCHANGES.

27. CONDITION OF EQUIPMENT AND ITEMS SOLD: ALL INFORMATION IS BELIEVED TO BE ACCURATE, BUT NEITHER THE AUCTIONEER NOR THE SELLER SHALL BE RESPONSIBLE FOR THE CORRECT DESCRIPTION, GENUINENESS, AUTHENTICITY OF, OR DEFECT IN ANY LOT, AND MAKES NO WARRANTY IN CONNECTION THEREWITH. NO SALE SHALL BE SET ASIDE NOR ALLOWANCE MADE ON ACCOUNT OF ANY INCORRECTNESS, ERROR IN CATALOGING, OR ANY IMPERFECTION NOT NOTED. NO ADJUSTMENT WILL BE ALLOWED ON DAMAGED ARTICLES, ALL ITEMS ARE AVAILABLE FOR INSPECTION AND SOLD “AS IS” WITHOUT RECOURSE.

28. THE DESCRIPTIONS OF ITEMS APPEARING IN ADVERTISING AND AUCTION CATALOG PRIOR TO THIS AUCTION ARE BELIEVED TO BE CORRECT. NEVERTHELESS, NEITHER THOSE DESCRIPTIONS NOR ANY ORAL STATEMENTS MADE BY THE OWNER (OR HIS AGENTS OR OFFICERS) OR THE AUCTIONEERS (OR HIS AGENTS OR OFFICERS) CONCERNING REAL ESTATE OR ANY ITEM SHALL BE CONSTRUED AS WARRANTY, EITHER EXPRESSED OR IMPLIED, BIDDER AGREES TO INSPECT THE ITEMS THEY ARE BIDDING ON AND TO SATISFY THEMSELVES AS TO THE PROPER NAME, AGE AND CONDITION OF THE ITEM. I, THE BIDDER, HAVE EXAMINED THIS MERCHANDISE AND ACCEPT IT IN “AS IS” CONDITION.

29. DISPUTES: THE AUCTIONEER SHALL DECLARE THE WINNING BIDDER FOR THE REAL ESTATE AND ANY ITEM AFTER EACH ITEM IS AUCTIONED. IF A DISPUTE ARISES BETWEEN TWO OR MORE BIDDERS, THE AUCTIONEER RESERVES THE RIGHT TO REOPEN THE BIDDING. THE AUCTIONEER’S DECISION OF A BUYER SHALL BE FINAL.

30. BY PLACING A BID, YOU AGREE TO ALL OF THE TERMS AND CONDITIONS WHICH ARE SET FORTH BY ALEXANDER AUCTIONS & REAL ESTATE SALES AND EXPRESSLY ACKNOWLEDGE AND AFFIRM THAT YOU HAVE READ AND ARE FAMILIAR WITH THESE TERMS AND CONDITIONS.

31. ALL SALES ARE FINAL UPON THE DETERMINATION OF THE SUCCESSFUL BIDDER BY THE AUCTIONEER. NO SALES CAN BE CANCELLED. NO ITEMS CAN BE RETURNED.

32. BY PLACING A BID, YOU ACKNOWLEDGE THAT YOUR BID IS A LEGALLY BINDING OFFER TO PURCHASE THE ITEM OR PROPERTY BEING AUCTIONED.

33. TIME SHALL BE OF THE ESSENCE.

34. THE SUCCESSFUL PURCHASER AGREES TO PAY ANY AND ALL REASONABLE ATTORNEY’S FEES AND COSTS INCURRED BY THE AUCTION COMPANY, THE SELLER AND/OR THEIR SERVANTS, AGENTS OR EMPLOYEES IN THE COMMENCEMENT OR DEFENSE OF ANY ACTIONS HEREUNDER AS WELL AS IN THE COLLECTION OF ANY OBLIGATIONS HEREUNDER.

35. FAILURE TO COMPLY: IF SUCCESSFUL BIDDER FAILS TO COMPLY WITH PAYMENT TERMS OR PAYMENT AS REQUIRED, THE SUCCESSFUL BIDDER SHALL BE LIABLE TO DEFICIENCY IN SELLING PRICE, ATTORNEY FEES, OR ANY OTHER DAMAGES THEY MAY OCCUR AS RESULT OF NONCOMPLIANCE BY BIDDER.

36. ANY DISPUTE BETWEEN ALEXANDER AUCTIONS & REAL ESTATE SALES, ITS AGENTS OR REPRESENTATIVES AND THE BUYER(S) WILL BE TRIED IN A COURT OF JURISDICTION IN WEAKLEY COUNTY, TN. BY BIDDING ON ANY ITEM, BUYER AGREES TO ALL TERMS AND CONDITION SET FORTH. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE A JUDGE SITTING WITHOUT A JURY.

37. ATTORNEY FEES: IN AN ACTION OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT, THE PREVAILING PARTY SHALL BE ENTITLED TO REASONABLE ATTORNEY FEES AND COST.

38. UCC SECTION 2-328 (4) DISCLAIMER: SECTION 2-328(4) OF THE UCC STATES, “IF THE AUCTIONEER KNOWINGLY RECEIVED A BID ON THE SELLER’S BEHALF OR THE SELLER MAKES OR PROCURES SUCH A BID, AND NOTICE HAS NOT BEEN GIVEN THAT LIBERTY FOR SUCH BIDDING IS RESERVED, THE BUYER MAY AT HIS OPTION AVOID THE SALE OR TAKE THE GOODS AT THE PRICE OF THE LAST GOOD FAITH BID PRIOR TO THE COMPLETION OF THE SALE”.

39. BUYER’S RESPONSIBILITY: AFTER A BIDDER HAS WON THE BID WITH HIS/HER HIGH BID; THEY HAVE BECOME THE NEW OWNERS OF THE ITEM, EVEN THOUGH THEY MAY NOT HAVE PAID FOR THE ITEM YET. THE ITEM(S) BECOMES THE FULL AND SOLE RESPONSIBILITY OF THE BUYER AT THIS POINT AND BUYER ASSUMES ALL RISK OR LOSS AND DAMAGE. BUYERS SHOULD GUARD THEIR ITEMS ACCORDINGLY. BUYER SHOULD INSURE THEIR PURCHASES IMMEDIATELY AFTER PURCHASER.

40. BIDDER ACKNOWLEDGES THAT NO RELATIONSHIP OF ANY NATURE OR TYPE, AGENT, EMPLOYEE, INDEPENDENT CONTRACTOR OR OTHERWISE, IS CREATED BETWEEN BIDDER AND AUCTIONEER, AFFILIATED AUCTION COMPANIES, AFFILIATED SOFTWARE COMPANIES AND/OR ANY SERVANT, AGENT OR EMPLOYEE OF THE SAME BY BIDDER’S PARTICIPATION IN THIS AUCTION.

41. DISCLAIMER OR WARRANTIES: THERE ARE NO UNDERSTANDINGS, AGREEMENTS, REPRESENTATIONS OR WARRANTIES, EXPRESS OR IMPLIED NOT SPECIFIED HEREIN, RESPECTING THIS CONTRACT OR THE ITEM OR PROPERTY SOLD HEREIN, RESPECTING THIS CONTRACT OR THE ITEM OR PROPERTY SOLD HEREUNDER, INCLUDING BUT NOT LIMITED TO THE MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR PARTICULAR USE.

42. INJURY AND DAMAGE: BIDDER ACKNOWLEDGES RESPONSIBILITY FOR ANY PERSONAL INJURY OR PROPERTY DAMAGE CAUSED BY THE BIDDER OR HIS AGENT, AND FURTHER AGREES TO HOLD THE AUCTIONEERS HARMLESS FROM ANY PERSONAL INJURY TO HIMSELF OR HIS AGENTS AND ANY PROPERTY DAMAGE INCURRED ON AUCTION PREMISES.

43. HOLD HARMLESS: BUYER AND OR BIDDER AGREES TO HOLD HARMLESS ALEXANDER AUCTIONS & REAL ESTATE SALES AND ITS AGENTS, OWNERS, DIRECTORS, EMPLOYEES AND ITS REPRESENTATIVES FROM ANY AND ALL CLAIM DAMAGES OR SUITS INCLUDING BUT NOT LIMITED TO AWARDS, JUDGMENTS, COST, FEES, ETC.

44. AGENCY: THE AUCTIONEERS ARE ACTING AS THE OWNER’S AGENT ONLY.

45. RESERVE: ALL ITEMS ARE SOLD WITH RESERVE UNLESS STATED OTHERWISE. THE SELLER AND THEIR AGENTS, HEREBY, RESERVE THE RIGHT TO BID AT TODAY’S AUCTION. IF RESERVE ITEM DOES NOT MEET SET PRICE, ITEM MAY BE PASSED OR SELLER MAY CONFIRM PRICE.

46. WRITTEN MATERIAL: ANY WRITTEN MATERIAL SUPPLIED TO YOU SHOULD BE USED AS A GUIDE ONLY. ITEMS HAVE BEEN IDENTIFIED AND DESCRIBED BASED ON INFORMATION AVAILABLE TO US BUT MAY NOT BE ACCURATE.

47. ABSENTEE BIDDERS: AUCTIONEER MAY BID OR HAVE SOMEONE BID ON BEHALF OF ABSENTEE BIDDER. CREDIT CARD NUMBER MUST BE LEFT WITH MARKNET AND ALEXANDER AUCTIONS UNLESS BIDDER HAS MADE DIFFERENT ARRANGEMENTS WITH ALEXANDER AUCTIONS & REAL ESTATE SALES.

48. BIDDERS WHO BID OFF-SITE OR DO NOT MAKE A PERSONAL INSPECTION OR PREVIEW, UNDERSTAND AND ACKNOWLEDGE THAT THEY MAY NOT BE ABLE TO INSPECT THE REAL ESTATE OR AN ITEM AS WELL AS IF THEY EXAMINED IT IN PERSON. IT IS THE BIDDER’S RESPONSIBILITY TO DETERMINE CONDITION, AGE, GENUINENESS, VALUE OR ANY OTHER DETERMINATIVES FACTOR.

49. ALEXANDER AUCTIONS IS PROVIDING INTERNET ON-LINE 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 AUCTION.

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

51. INTERNET BIDDERS WHO DESIRE TO MAKE CERTAIN THEIR BID IS ACKNOWLEDGED SHOULD USE THE PROXY-BIDDING FEATURE AND LEAVE THEIR MAXIMUM BID 24 HOURS BEFORE THE AUCTION ENDS.

52. SOME LOTS WITH MULTIPLE ITEMS ARE SOLD AS A SINGLE LOT AND SOME LOTS ARE SOLD INDIVIDUALLY (TIMES THE MONEY PER PIECE).

53. NO SHIPPING WILL BE DONE – PURCHASES MUST BE PICKED UP AT 943 EAST MAIN STREET, MARTIN, TN 38237 ON WEDNESDAY, DECEMBER 10^TH AND THURSDAY, DECEMBER 11^TH BETWEEN 10 A.M. TO 5 P.M. BY APPOINTMENT WITH ALEXANDER AUCTIONS & REAL ESTATE SALES. REMOVAL DATE WILL NOT BE EXTENDED.

54. REMOVAL OF PROPERTY OR STORAGE: NONE OF THE PROPERTY MAY BE REMOVED FROM THE PREMISES UNTIL THE TOTAL PURCHASE PRICE HAS BEEN PAID. ANY ITEMS LEFT AND NOT REMOVED FROM THE PREMISES REMAIN AT THE SOLE RISK OF THE BUYER.

55. THE REAL ESTATE AND ALL ITEMS ARE AVAILABLE FOR YOUR VIEWING BEFORE THE REAL ESTATE OR THE ITEM IS OFFERED FOR AUCTION AND YOU SHOULD MAKE AN INSPECTION OF THESE ITEMS BEFOREHAND SO THAT YOU ARE SATISFIED WITH THEIR CONDITION. ANY AND ALL INSPECTIONS THAT A BUYER MAY WANT MUST BE COMPLETED AT BUYER’S EXPENSE PRIOR TO THE CLOSE OF THE ONLINE BIDDING. ALEXANDER AUCTIONS & REAL ESTATE SALES, AGENTS, REPRESENTATIVES OR EMPLOYEES MAY BID. ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER AND OR BUYER IF THE WINNING BIDDER AND OR BUYER IS IN DEFAULT OF THESE ITEMS. WINNING BIDDER AND OR BUYER MUST EXECUTE THE PURCHASE AGREEMENT/CONTRACT WITH NO CHANGES, MODIFICATION, ADDITIONS, OR DELETION.

56. BIDDER RESPONSIBILITIES: BIDDER RESPONSIBILITIES INCLUDE, BUT ARE NOT LIMITED TO: BIDDERS AGREE TO KEEP THEIR USERNAME AND PASSWORD CONFIDENTIAL, AS THY 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. AUCTION COMPANY EMPLOYEES AND/OR AUCTION COMPANY MAY BID ON AUCTION. WE GATHER AGGREGATE INFORMATION FROM THE WEB SITE WHICH MAY INCLUDE BUT IS NOT LIMITED TO: NUMBER OF PAGE VISITORS, MOST VISITED PAGES, AND ANY AND ALL CORRESPONDENCE.

57. GUARANTY AGREEMENT: BY SUBMITTING A BID IN THE NAME OF A BUSINESS ENTITY OR CORPORATION, THE INDIVIDUAL SUBMITTING THE BID ENTERS INTO A GUARANTY AGREEMENT WHEREBY HE OR SHE PERSONALLY GUARANTEE EARNEST MONEY AN FULL PAYMENT TO ALEXANDER AUCTIONS & REAL ESTATE SALES.

58. AGE REQUIREMENT: ALL BIDDERS MUST BE EIGHTEEN (18) YEARS OF AGE OR OLDER.

59. ALL SALES ARE FINAL. ALL PURCHASERS ARE RESPONSIBLE FOR THE ITEM UPON THE FALL OF THE HAMMER. ALEXANDER AUCTIONS & REAL ESTATE SALES WILL NOT ACCEPT ANY MERCHANDISE BACK BECAUSE YOU HAVE DECIDED THAT YOU DO NOT WANT IT OR YOU MAY DECIDE YOU HAVE OVERPAID FOR IT. IF YOU PURCHASE AN ITEM AND LEAVE AND DO NOT PAY FOR ITEM WE WILL PROCEED TO COLLECT FOR THE ITEM IN A LEGAL MANNER.

60. ALEXANDER AUCTIONS & REAL ESTATE SALE WILL NOT TOLERATE ANY PILFERING OR TAKING OF ANY ITEM OR THEFT OF ANY ITEM. ANY WRONG DOING WILL BE PROSECUTED TO THE FULLEST OF THE LAW.

61. CONDUCT OF AUCTION: ALEXANDER AUCTIONS & REAL ESTATE SALES RESERVES THE RIGHT, WITHOUT GIVING ANY REASON, TO PUT UP REAL ESTATE OR ITEMS OUT OF NUMERICAL SEQUENCE AND TO WITHDRAW ANY ITEM, ITEMS OR LOT FROM THE AUCTION.

62. 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.

63. PRE REGISTER ON-LINE AT WWW.ALEXANDERAUCTIONS.COM. WHEN YOU REGISTER YOU ARE AGREEING TO THESE TERMS.

64. 24. BIDDING: EXECUTE YOUR BIDS AT WWW.ALEXANDERAUCTIONS.COM. ALL BIDS MUST BE RAISED IN INCREMENTS. BIDS CANNOT BE RETRACTED. WHEN YOU PLACE A BID, THE BIDDER IS LEGALLY OBLIGATED TO PURCHASE THE ITEM IF THEIR BID IS THE SUCCESSFUL HIGH AMOUNT. BIDDERS MAY PLACE A “MAX BID” ON ANY ITEM, MEANING YOUR BID WILL BE AUTOMATICALLY RAISED TO THE NEXT INCREMENT WHEN NEEDED.

65. BID INCREMENTS: UP TO $50.00 - $1.00

$51.00 UP TO $100.00 - $2.50

$101.00 UP TO $200 - $5.00

$201.00 UP TO $500 - $10.00

$501.00 AND UP - $25.00

66. ALEXANDER AUCTIONS RETAINS THE RIGHT TO CHANGE BID INCREMENTS BEFORE OR DURING THE AUCTION DUE TO SITUATIONS THAT ARISE OR FOR NO SPECIFIC REASON WHATSOEVER.

67. BUYER’S PREMIUM

a. 10% BUYER’S PREMIUM ADDED TO FINAL BID OF EACH ITEM TO REACH THE TOTAL SALES PRICE FOR ALL ITEMS PAID FOR BY CASH, CASHIER’S CHECK, CERTIFIED FUNDS, OR WIRE TRANSFER.

b. 13% BUYER’S PREMIUM ADDED TO THE FINAL BID OF EACH ITEM PAID FOR BY VISA AND MASTERCARD ONLY.

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

69. ANY PROSPECTIVE BIDDER WHO REGISTERS FOR A BIDDER’S NUMBER AND BIDS ACCEPTS THESE TERMS AND ANY ADDITIONAL TERMS ANNOUNCED AT THE AUCTION.

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, Auctioneer TL9, FL 107

239 University Street * P.O. Box 129, MARTIN TN 38237 * (731) 587-4244

Email: alexanderauctions@frontiernet.net

Reelfoot Bank On-Line Only Restaurant Auction