8878 N. Hwy 70, Pampa, TX 79065
348573 00--KC-/10-2017

Relocation Sale

Auctioned
9:00 AM Sunday, October 22, 2017

Open to the Public:
1-4PM Sunday October 8th and 15th.

Nominal Opening Bid:
$100,000

Note: A Buyer’s Premium (Buyer’s Fee in WI) will apply for this property. Buyer pays a $199 Technology Fee at closing. Please see Terms of Sale for details.

Legal Description:
SEE EXHIBIT A ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE

Terms of Sale:

Thank you for participating in Williams & Williams Online Auctions. It is important that you familiarize yourself with the terms and conditions as all sales are final and irrevocable. The terms of sale are non-negotiable. Good luck and good bidding!

Registration at the auction (online and/or in person) finalizes each bidder's agreement to the terms and conditions of sale as stated in the Contract and its Addenda which are incorporated by reference into your bidding. Do not bid until you have read the terms and conditions. In order to bid on the auction items, all Bidders must be signed up as Members of williamsauction.com and register to bid on the specific property in question. There is no fee to register although a valid credit card will be required to verify identity and funds and the High Bidder will be required to pay a Williams & Williams Technology Fee of $199 at closing. By bidding you are representing to Williams & Williams ("Broker" and/or "Auctioneer") and the seller that you have read and agree to be bound by the terms and conditions for this sale as stated herein.. DO NOT BID unless you have read and agreed to be bound by the terms of sale in the Contract as they are enforceable against you upon becoming a high bidder.

THE SALE WILL BE CONTROLLED BY THE AUCTIONEER PROGRAM. Williams & Williams is not responsible for malfunctions or system errors which cause a bid or bidder to fail to be recognized or registered. If there is a dispute, the Auctioneer may re-open the bidding at the Auctioneer's sole discretion and shall serve as the sole arbiter as to who is or is not allowed to bid. The Auctioneer reserves the right to group, add to, delete, withdraw, consolidate or break down properties or quantities offered, to sell out of scheduled sequence, to reject any bid which is only a fraction advance over the preceding bid, to regulate bidding and to accept or reject any or all bids. Absentee bids may be accepted at the discretion of the Auctioneer. Any and all decisions of the Auctioneer regarding the order and conduct of the auction shall be final and absolute without liability to any party. Seller reserves the right to cancel or withdraw any property at any time.

All auctions are subject to court or seller approval. Most sales are approved within 14 days. Buyers are not allowed possession until filing of the deed, at which time the property should be re-keyed. "Showing" requests from Buyers after the auction may not be able to be accommodated.

Bidding starts at the nominal Opening Bid(s) indicated and is open to all who registered and are approved. The Auctioneer will call the sale and control any increments of bidding. The bidding will continue for a period of five (5) to seven (7) days for each property. The auction ends at a predetermined time with an Overtime Period if necessary, which is defined as follows: if a bid is placed within three (3) minutes of the close of bidding, then another three (3) minute period commences from the time of the last bid until no bids are placed within the next three (3) minutes. The last bid shall be made final.

A Buyer's Premium of 5% ($10,000 minimum) will be added to the high bid and included in the total purchase price. Please see the Auction Day Notes, The Contract for Sale, and/or the Auctioneer for specifics about the property you wish to bid on.

Each high bidder must make a 10% non-refundable deposit per property ($5,000 MINIMUM - whichever is greater) at the conclusion of the auction. Electronic wire funds, ACH Debits, and cashier's checks are the only forms of payment accepted. If you are a resident / citizen of a country outside of the US, certified funds (bank check, wire transfer, certified checks) are required for the down payment and closing. Once the Seller approves the Sale, the deposit will be credited to the Contract. The balance of the purchase price all closing costs, and the Technology Fee are due at closing. Buyer is responsibe for all escrow and closing fees typically ranging from $750-$3000. IT IS THE BUYER'S RESPONSIBILITY TO CONTACT A LOCAL TITLE AGENCY OR REAL ESTATE ATTORNEY FOR A PROPERTY SPECIFIC ESTIMATE PRIOR TO PLACING A BID.

Within 24 hours immediately following the close of the auction, Auctioneer or Title Company shall contact Buyer by electronic mail, telephone or facsimile to provide documents for execution. All purchase documents will be provided to the Buyer and Buyer will be required to sign and return all purchase documents to Auctioneer via overnight delivery. Buyer shall have two (2) days following the auction to return all completed documents or shall be subject to paying a liquidated damages amount equal to the down payment. If you wish to have the purchase documents reviewed by an attorney, please contact Auctioneer PRIOR to the Auction and we will provide them to you for review so as to not delay the post auction process. You may also obtain a copy of our current contract on our website at www.williamsauction.com. The contract is not subject to negotiation.

If Buyer is a winning bidder and refuses or fails to complete the transaction for ANY reason (including, but not limited to, remitting the total purchase amount), Buyer shall relinquish ANY right to complete the transaction and shall have no rights or interest in the property, as well as forfeit all deposit monies as liquidated damages to Seller. PLEASE BE ADVISED: Various state statutes give Seller the right to pursue legal action against bidders who refuse to complete transactions. This may include (but is not limited to) suit to compel completion of the sale, and/or criminal charges of fraud or other intentional act.

All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale. Williams & Williams represents the Sellers only and does not inspect properties on bidder's behalf. Buyers must conduct their own due diligence and investigation of each property and must also investigate the suitability of each parcel prior to making a bid and purchase at the auction. Buyers must rely solely upon their own investigation and not any information provided by the Seller or Auctioneer. Failure of a Buyer to be fully informed on the condition of a property will not constitute grounds for any claim adjustment or right to cancel sale.

Buyers receive a deed and Title Insurance Policy as provided by the Closer indicated in the Contract (any mobile/manufactured housing not legally affixed to the property shall only be conveyed by a Hold Harmless Agreement or Quit Claim Bill of Sale unless otherwise noted in the Disclosures). Current year's taxes are pro-rated through day of closing as is customary.

All the information contained on this property was obtained from official county maps or other sources deemed reliable, but is not guaranteed and may be in error. Seller DOES NOT WARRANT the accuracy thereof. Seller has made no independent investigation of any information provided, and assumes no responsibility for the providing of or absence of any information, whatsoever, or for the accuracy thereof.

NOTICE: Institutional and Fiduciary Sellers (courts, government agencies, banks and trustees) have not occupied the properties and have NO information to provide for disclosure. Properties are sold 'As Is - Where Is' and should be fully inspected prior to bidding on.

SELLER AND AUCTION COMPANY HAVE NO KNOWLEDGE OF THE SUBJECT PROPERTY OR ITS FIXTURES OR CONDITION AND ARE NOT RESPONSIBLE FOR SUCH.

YOU ARE ENTERING INTO A BINDING CONTRACT. THERE ARE NO REFUNDS OR BID CANCELLATIONS. THE REGISTERED BIDDER IS PERSONALLY RESPONSIBLE, LEGALLY AND FINANCIALLY FOR ALL AUCTION ITEMS BID UPON WHETHER REPRESENTING ONE'S SELF OR ACTING AS AN AGENT. AN ONLINE BID ACCEPTED AT PUBLIC AUCTION IS A LEGAL AND BINDING CONTRACT TO PURCHASE. ANY BIDDER WHO FAILS TO CONSUMATE A PURCHASE WILL BE BANNED FROM BIDDING AT ALL FUTURE SELLER AUCTION EVENTS AND MAY BE PURSUED FOR CIVIL AND/OR CRIMINAL VIOLATIONS.

Disclosures:
• All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale.

• Wastewater Treatment Disclosure. The Property herein has been reported to have an on-site wastewater treatment system/cesspool/septic tank. Buyer is purchasing the Property as-is, where-is with no warranties or assertions by Seller, Williams & Williams, or their agents as to the condition thereof. The Property may be subject to city/county septic inspections. Buyer agrees to comply with all requirements necessary to complete the inspection and closing, including, but not limited to, obtaining the necessary permits and making arrangements to correct any noted city/county violations at Buyers expense.

• Propane Disclosure. Neither Seller, Williams & Williams, nor its agents make any assertions or guarantees as to the condition of the propane tank or location of lines that may be located on the property herein. Buyer is purchasing the Property as-is, where-is, and is responsible for all costs for any required remediation thereto. In the event the propane tank is leased, the Buyer is responsible for any and all costs/remediation required for the propane tank, assuming all lease terms, and/or negotiating a new lease agreement for use of any propane tank.

• Water Source and Well Potability Disclosure. The water source for this property is a well(s) located on the property. Regarding any assertions as to the condition or potability of the well(s) reported to be on this Property, please see Seller's Property Disclosure. Buyer is purchasing the Property as-is, where-is.

• Texas law requires that auctioneers notify consumers that consumers may contact the Texas Department of Licensing and Regulation, PO Box 12157, Austin, TX 78711 or by phone at 800-803-9202 for the purpose of making a complaint regarding a Texas auction.

• If the Property adjoins an impoundment of water with a normal operating capacity of 5,000 acre-feet, Buyer acknowledges receipt of the following: NOTICE OF WATER LEVEL FLUCTUATIONS. The water level of the impoundment of water adjoining the Property fluctuates for various reasons, including as a result of: (1) an entity lawfully exercising its right to use the water stored in the impoundment; or (2) drought or flood conditions.

• Escrow. Buyer acknowledges receipt of the Joint Escrow Instructions – Addendum A that modifies the Contract for Sale to provide for a designated Escrow Agent to hold
down payment funds.