Online Auction Bidders Agreement I ________________________________ (Buyer) agree to immediately enter into a Purchase Contract if I am declared the high bidder (winning bidder) by the auctioneer during the following auction: " 4.85+/- acre commercial development tract on 217th Street, Spring Hill, Kansas. " 0.60+/- acre commercial development tract on 217th Street, Spring Hill, Kansas. o Online Bidding Opens on Monday, April 23rd at 6:00pm (CST) o Online Bidding Closes on Wednesday, May 23rd at 6:00pm (CST) By signing below I agree that I have read and fully understand the Online Bidders Agreement and the Terms and Conditions of this auction. I fully understand and agree that an Online Auction Bidders Agreement MUST be signed and returned to United Country - Kansas City Auction and Realty, prior to being allowed to bid in the Online Auction. As a bidder, it is solely my responsibility to contact the auction company at (816) 873-0239 with any questions regarding the auction, purchase agreement or terms & conditions, prior to placing any bids in said auction. Online Auction Terms & Conditions 1) Absolute Auction: The property is being sold to the highest bidder regardless of price. 2) Bidding Registration: Online bidder hereby agrees that they must properly register for this online auction by completing and signing the (Online Bidders Agreement), which will be sent by email via DocuSign. Upon completing this registration form and approval, bidding privileges will be turned on. If you need assistance with registration, you may contact Lucinda Terrel at (816) 420-6257 or by email at LTerrel@UC-KC.com. 3) Bidding Opens/Closes: The Online Only Auction (ie. Internet Auction), bidding shall be opened and begin closing on the dates and times stated above. 4) Property Previews: It is highly recommended that all bidders personally inspect the property prior to placing any bids in the auction. Property inspections are the sole responsibility of the bidders and can be held at any time, due to these properties being vacant commercial land parcels. 5) Cash Offer/No Financing Contingency: By participating in this auction, bidders hereby agree that their bid shall NOT be subject to the bidder's ability to obtain financing. By placing a bid in this auction, bidders are making a "cash offer" to purchase the property. Financing is NOT a contingency in the purchase agreement. 6) Buyer's Premium: a Ten Percent (10%) Buyer's Premium shall be added to the final bid price place online, which will determine the Total Contract Sales Price. Bidders hereby understand that the Buyer's Premium shall be added to the winning bid to create the Total Contract Sales Price for which they are obligated to pay for the property. 7) Purchase Contract: Winning bidder hereby agrees to enter into a Contract to Purchase the property immediately upon being declared the Successful Bidder by the Auctioneer. Upon the close of the auction the winning bidder will be forwarded via email a Real Estate Auction Purchase Contract to purchase the property. A signed copy of the Purchase Contract must be received by United Country - Kansas City Auction and Realty no later than 24 hours from the time said Purchase Contract was sent to the winning bidder. The Purchase Contract may be (hand delivered, faxed, or scanned and emailed). A copy of the purchase contract is available for review prior to bidding on the property, contact the auction company with any questions. 8) Escrow Deposit: an escrow deposit of Ten Percent (10%) of the total contract purchase price (which includes the buyer's premium) will be wire transferred or hand delivered in the form of certified funds to the Title Company no later than 48 hours following the close of auction. See closing agents contact information below. The balance of the purchase price will be due in full at closing. 9) Closing: closing shall be on or by Friday, June 22nd, 2018. Closing shall take place at Security 1st Title Company, 9 S. Pearl Street, Paola, Kansas 66071. Closing Agent is Brenda Howell (Escrow Officer) and her contact information is (913) 557-2694. Out of state buyers will be afforded the opportunity to close via email, mail and wire transfer of certified funds. 10) Possession: possession of the property will be given upon payment in full of the purchase price and transfer of title, at closing. 11) Easements: The sale of the property is subject to any and all easements of record. 12) Mineral Rights: The seller's share of mineral rights (if any), shall be conveyed to the buyer at closing. 13) Survey: Sellers are not required to provide a survey of the property. If the buyer desires a survey, it shall be at the buyer's sole expense. 14) Title Insurance: Title Insurance in the full amount of the purchase price will be provided by the seller. Seller shall pay 2017 and all prior year real estate taxes. 2018 real estate taxes will be Pro-Rated to the date of closing. 15) Online Auction Technology (Disclaimer): Under no circumstances shall Bidder have any kind of claim against United Country - Kansas City Auction and Realty, agents, auctioneers, brokers or the Seller, if the internet service fails to work correctly before or during the auction. Online bidding is subject to technology failure and issues without warning, which are outside the control of the auction company. 16) Agency: United Country - Kansas City Auction and Realty and its agents, auctioneers, broker and representatives are Exclusive Agents of the Seller(s). 17) Disclaimer: All information provided is believed to be accurate; however, no liability for its accuracy, errors or omissions is assumed. All lines drawn on maps, photographs, etc. are approximate. Buyers should verify the information to their satisfaction. Information is subject to change without notice. There are no warranties either expressed or implied pertaining to this property. Real estate is being sold "As-Is, Where-Is" with NO warranties expressed or implied. Please make all inspections and have financing arranged prior to the end of bidding.