Tract 1

EXHIBIT “B”

TERMS AND CONDITIONS
The Robert C. Brown Estate
55.532 ac located on Hall Memorial Rd
Calhoun, Gordon County, GA

These “Terms and Conditions” supersede all other printed and oral statements and will be attached to and become a part of the Real Estate Sales Contract as Exhibit “B”, which will prevail over this document and any other agreement between the buyer and seller.

CONDITIONS OF SALE: Dempsey Auction Company (Auctioneer/Broker) has entered into a contract with the Mr. Steve Brown as Administrator of The Robert C. Brown Estate (Seller), to offer at AUCTION, 55.532 Acres located at 929 Hall Memorial Rd, Calhoun, GA

All property, real and personal, is selling “AS IS, WHERE IS” and being conveyed by Seller as provided for below. It is offered for sale and sold “AS IS and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to their condition. No warranties, either statutory or otherwise, expressed or implied, including those as to the fitness for a particular use or purpose, habitability, merchantability, or environmental condition including, but not limited to, any hazardous substances, hazardous waste, petroleum or petroleum by-products (collectively Hazardous Materials), concerning the property are given by the Auctioneer or Seller. Neither the Auction Company or the Seller makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction, that he/she has inspected the Property and is not relying on any warranty or representation of the Seller, Auctioneer or any agent thereof.

We require all bidders register and obtain a bid number in order to participate in the bidding process.

All decisions of the Auctioneer will be final, including the increments of bidding, disputes among bidders, or any other issues that might arise before, during or after the auction.

The Seller has the right, at their sole discretion; to add or withdraw all or any portion of the property before the auction on Saturday, January 23rd @ 10:00am. This is an estate auction and if you see any of the heirs bidding, they are bidding for themselves as individuals and will close under these same Terms & Conditions. This property is Selling Subject to Owner Confirmation and all offers may be held open until Monday, January 25th @ 5:00pm.

RESERVATIONS & RESTRICTIONS: The real estate will be sold subject to all Restrictions, Public Utilities, Encroachments, Zoning Ordinances, Easements, Gordon County Regulations, Protective Covenants, any Existing Right of Ways, and all other matters now of record. A portion of this property lies within 100-year flood line as depicted by below mentioned survey.

PAYMENT: A 10% Buyer’s Premium on Real Estate will be added to the Bid Price on all real estate today to arrive at the final purchase price. The purchaser will be required to sign the Real Estate Sales Contract and pay a non-refundable earnest money deposit equal to 10% of the final purchase price immediately following the Auction. This deposit will be held in a non-interest-bearing escrow account under the control of Dempsey Auction Co. No disbursements will be made from this escrow account until closing or otherwise in accordance with this agreement. In the event the purchaser fails to close and pay his/her balance when due, the deposit may be retained by the Seller and Auctioneer as liquidated damages in addition to any other remedies available to the Seller and Auctioneer.

ONLINE PURCHASERS PAYMENT: If an Online Bidder is awarded the winning bid, he/she authorizes Dempsey Auction to charge the credit card, on file, for the full amount of the down payment of the contract sales price, unless prior arrangements have been made thru Dempsey Auction.

SURVEY: We are selling this property according to registered and approved boundary survey. Each tract has been surveyed for this auction by Elbert Angel, a Georgia registered land surveyor, License #1742. A survey/development fee of $1,600 for Tract #1, and $4,000 for Tract #2 will be due and collected today. The accuracy of the survey is the sole liability of the surveyor and the Purchaser, and the Purchaser does hereby release the Seller and Dempsey Auction Co from all liability in all matters concerning the survey.

CLOSING: Closing shall take place within 30 days of acceptance, in accordance with the Real Estate Sales Contract, or on a date mutually agreed upon by the Seller and Purchaser(s) in writing. The closing attorney is Giles Jones Attorney at Law, 109 N. Wall St, Calhoun, GA 30701, 706.625.2233.

CLOSING COSTS: The Seller will provide a Conveyance Deed at closing. Good and Marketable Title is guaranteed; and if the Seller is unable to convey clear title to the property, the Purchaser(s) Earnest money deposit will be returned.

All other costs including, but not limited to, Attorney’s Closing Fees, Recording and Handling Fees, Deed Transfer Taxes, Title Search, Title Insurance, Loan Origination Fees, etc., will be at the Purchaser’s expense.

POSSESSION: Purchaser(s) will be granted possession of real estate at closing, on or before February 22, 2021

TAXES: The Real Estate property taxes will be prorated to the date of closing. Any additional taxes assessed resulting from the change of use by the purchaser will be the responsibility of the purchaser.

AGENCY: In accordance to the Georgia Agency Disclosure Law, BRRETA Act Section 19-6A-5, Dempsey Auction Company is acting as agent for the seller only in this transaction and is to be paid a fee pursuant to a separate written agreement between seller and the auctioneer. The auctioneer is not acting as an agent for the purchaser in this transaction. Any third-party broker is not a sub-agent of the auctioneer.

BUYER’S NOTE: Dempsey Auction Company and the Seller reserve the right to amend any terms of conditions of the auction by announcing such amendments prior to or during the auction. 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 Auctioneer. The Auctioneer makes no warranty or guarantee as to the correctness and completeness of any information. Personal on-site inspection of the 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 earnest money after its opening tender. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced and/or distributed information.

METHOD of SALE: The land will be offered in a Pick and Choice by the Acre format. Dempsey Auction reserves the right to offer the property any way we see for to obtain the SELLER the most money.

In accordance with BRRETA Act Section 19-6A-5, Dempsey Auction Company is the “Listing Agent and Selling Agent of the Seller” and our fiduciary duties of loyalty and faithfulness are owed to the Seller, The Robert C. Brown Estate.

NOTE: This auction is being recorded by audio in its entirety for legal purposes.

I have received, read, understand and agree to the information in these “Terms and Conditions” which will become a part of the sales contract and will hereafter be Exhibit “B”.