Travis Selby

Land Broker and Auctioneer

IL Lic.# 441001485

Mobile Phone: 217-304-1686

AUCTION TERMS and CONDITIONS

Procedure: The property shall be offered as two individual tracts and as a combination of the two individual tracts.

Online and In Person Public Auction

Bidding shall remain open until the auctioneer announces bidding closed.

Acceptance of Bid Prices/Contracts: The seller reserves the right to accept or reject any and all bids.

The successful bidder will sign a sale contract at the auction site immediately following the close of the bidding.

Copies of such contracts are available for review at the office of the auctioneer.

Down Payment: A 10% earnest money deposit of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of a personal check, business check, or cashiers check. The balance of the contract purchase price is due at closing.

Closing: Closing shall take place 34 days after auction day, or as soon thereafter as applicable closing documents are completed.

The anticipated closing date is on or before October 21st, 2024.

Possession: Possession will be given at closing.

Title: Sellers shall provide an Owners Policy of Title Insurance in the amount of the purchase price and shall execute a warranty deed conveying to the buyer(s). Sellers shall pay the premium for the Title Insurance Policy and the sellers search charges. Commitments for Title Insurance will be available for review at the office of the auctioneer and at the auction site. Bidders shall be deemed to have reviewed and approved the Title Commitments by submitting bids.

Real Estate Taxes and Assessments: The 2023 real estate tax due and payable in 2024 shall be paid by the seller.

The 2024 real estate tax due and payable in 2025 shall be prorated to the day of closing.

Survey: A new survey shall be provided where there is no existing legal description. Any need for a new survey shall be determined solely by the seller. The cost of a new survey will be split equally between buyer and seller. The type of survey performed shall be at the sellers option and sufficient for providing title insurance. The final sale price will be the high bid amount times the surveyed acres.

Mineral Rights: The sale of the property shall include all mineral rights owned by the seller, if any.

Agency: Ag Exchange Inc. and its representatives are Exclusive Agents of the Seller.

Disclaimer and Absence of Warranties: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the sales contract.

ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

The property is being sold on an as is basis, and no warranty or representation either expressed or implied, concerning the condition of the property is made by the seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning this property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the sellers or the auction company. All sketches and dimensions in this brochure are approximate. Photographs are used for illustrative purposes only. Conduct at the auction and increments of the bidding are at the discretion of the auctioneer. The sellers and the auction company reserve the right to preclude any person from bidding and to remove any person from the auction if there is any question as to the persons credentials, fitness, conduct, etc. All decisions of the auctioneer are final.

Seller: LAKE CHARLENE LLC