REAL ESTATE AUCTION TERMS AND CONDITIONS

1. PROPERTY TO BE AUCTIONED: See Auction Listing Information Package

2. SELLER(S): Barri S. Edmondson and Bonnie Sims, as the heirs of the Estate of Melonae W. Sims, Deceased, and Lisa K. Sims and Blake Watson Sims, as the heirs of the Estate of Brent Watson Sims, Deceased. Barri S. Edmondson as the Personal Representative of James O. Sims, Deceased.

3. DATE AND LOCATION OF AUCTION: April 7, 2018, 10:00am at west entrance to property 1089 Neel School Road, Danville, AL 35619
4. TERMS OF SALE:
Real Estate:
A ten percent (10%) buyer's premium will be charged and added to the Buyer's bid price to determine the purchase price for all property sold at auction. The purchase price of the property, including the buyer's premium, will be payable in cash or certified funds as follows: (a) earnest money based on ten percent (10%) of the purchase price will be payable on the date of the auction; and (b) the balance of the purchase price will be payable at the Closing of the sales transaction. The following is an outline of the terms of sale:
OUTLINE OF TERMS OF SALE
High Bid Amount $___________________
Buyers Premium (10%)+ $___________________
Purchase Price $___________________
Earnest Money (10%)- $___________________
Balance Due At Closing $___________________

The Buyer's obligation to close the sales transaction will not be contingent on Buyer's ability to obtain financing. The earnest money will be nonrefundable, except as otherwise provided in the Real Estate Sales Contract, hereinafter described.
If you are the High Bidder on any of the property offered for sale today, you will sign a contract at the conclusion of today's auction.
5. CONDUCT OF AUCTION. All announcements made from the auction block will take precedence over any previous written or oral statements. United Country reserves the right to announce additional Terms and Conditions of the auction and sale prior to or during the course of the auction. All bidders will be bound by announcements made at the auction, even though a bidder may not have actually heard the announcements. The Real Estate Sales Contract for the purchase and sale of the property shall represent the final terms of sale.

In the event of a dispute over any matter at the Auction, United Country shall have the absolute and sole right to make the final decision to resolve the dispute and will also have the right to either accept or reject the final bids or re-open the bidding. Increments of bidding are at the direction of United Country and the Auctioneer conducting the auction. United Country reserves the right to accept absentee bids in advance and place those bids during the course of bidding. United Country reserves the right to accept phone bids and/or absentee bids (arrangements must be made prior to auction date). United Country Reserves the right to cancel the auction or remove any property or tract from the auction.

Auctioneer reserves the right to cancel, postpone or withdraw the property before or up to the start of the auction. The auctioneer reserves the right to offer this property in any manner and reserves the right to sell the property in any manner he so desires up to the start of the auction. The auction does not start until the auctioneer accepts the first bid, day of the auction.

6. ORDER OF AUCTION. Tracts will be offered as individual tracts, combinations of tracts, and as a whole. They will be bid by the acre.
A.) Individual Tracts- To be offered in tracts by the acre until all tracts have a high bid. The Auctioneer reserves the right to offer individual tracts, in combinations of tracts and as a whole, but is not obligated to do so.
B.) Combinations/Splits- When all tracts have a high bid the Auctioneer will ask if there is interest in combining more than one tract. In the combination/split round, the opening bid of any combination, complete combination of all tracts, or split of combined bids will be 5% increase of separate bids. In the case of a split of a combination the total 5% increase will be added to the tract being split back out. All increases will be rounded up to next $100 bid increment.
7. BACK-UP BIDS. An unsuccessful bidder may make a back-up bid to purchase the property in the event of default by the high bidder. A Back-up Bidder Form for the purpose will be provided by United Country, through its representatives at the auction, at request.

8. CLOSING. The sale of the property shall be closed and the deed delivered on or before 30 days from approval of the sale by the Probate Court of Morgan County, Alabama following the close of auction. The closing will be held at the office of Phil D. Mitchell, of Harris, Caddell & Shanks, P.C., 214 Johnston Street, SE, Decatur, Alabama 35601: phone: (256) 340-8037: email: pmitchell@harriscaddell.com

9. CLOSING COSTS AND PRORATIONS. All costs associated with the Closing of the transaction evidenced hereby shall be paid by the buyer. Ad valorem property taxes for the then-current tax will be pro-rated between the Seller and Buyer as of the date of the Closing. All property taxes applicable to the property for prior tax years remaining unpaid at the time of the Closing shall be paid in full by Seller prior to or at the time of the Closing. Any tax arising from a change in use of the property, which results in rollback tax shall be borne by Buyer.

10. CONDITION OF PROPERTY. The property shall be sold "AS IS, WHERE IS" and "WITH ALL FAULTS". Seller and United Country make no representations or warranties, express or implied, regarding the fitness, suitability or condition (environmental, structural or otherwise) of the property. Seller and United Country shall have no duty, liability, obligation and/or responsibility to Buyer or any other person or entity regarding the fitness, suitability or condition (environmental, structural or otherwise) of the property. Seller disclaims any and all warranties as to the status of mineral rights affecting the property, environmental conditions, availability of utilities, zoning, accesses to the property, or quantity of land in the property.

11. PROPERTY INSPECTION. It is the Buyer's responsibility to inspect the property prior to the auction. Buyer's must rely on their own information, judgment, inspections and any public records concerning the property. The failure of the Buyer to be fully and adequately informed as to the condition of the property will not constitute grounds for adjustment of the price or withdrawal of the buyer's bid for the property or return of any earnest money paid in connection with the sale of the property.

12. CONVEYANCE. Seller shall convey to the Buyer of any property sold at auction good and marketable fee simple title to such property by Statutory Warranty Deed subject only to (i) current city, state and county ad valorem taxes not yet due and payable; (ii) easements for the installation or maintenance of public utilities serving the property; (iii) easements and restrictions of record; (iv) rights of way for public roads; (v) subdivision regulations and zoning ordinances of applicable governmental entities; (vi) matters of survey, and (vii) such other matters, if any, as may be acceptable to the Buyer, all of which items collectively are the "Permitted Exceptions".

13. TITLE INSURANCE. Title Insurance will be issued at the Buyer's expense through the offices of Harris, Caddell & Shanks, PC, by First American Title Insurance Company.

14. DISCLAIMER. Seller and United Country (Or United Countries associated salespersons and the closing attorneys) make no representation relative to (a) the legal and tax consequences of the purchase or ownership of the property; (b) the availability of utilities or sewer service; (c) the environmental status of the property; (d) the investment or resale value of the property; (e) the quantity of land comprising the property; (f) the status of the title of property; (g) the status of mineral rights to the property: or (h) matters of survey affecting the property.

15. REAL ESTATE SALES CONTRACT. Real estate sales transactions arising out of the auction shall be evidenced and governed by the Real Estate Sales Contract attached hereto, which shall be executed by Seller and the Buyer of the property at the auction. The terms of the Real Estate Sales Contract are controlling in the event of any perceived inconsistency between its terms and any statements in these Auction Terms and Conditions or any advertisement or other material concerning the property or the auction. It is therefore recommended that all bidders carefully review the attached Real Estate Sales Contract before the commencement of the auction.

16. BIDDER REGISTRATION. All bidders must register with United Country before the auction and receive a bidder registration number and a copy of these Auction Terms and Conditions.

17. BROKER PARTICIPATION. A qualified, duly licensed Alabama real estate broker whose prospect is the successful bidder at the auction, and who closes the sale of the property, will be entitled to receive a commission based on 2% of the prospect's written opening bid for the property, excluding the buyer's premium, and 1% of the difference between the prospect's written opening bid and the prospect's successful bid for the property, also excluding the buyer's premium. To qualify for the commission, a broker must first register the prospect, using the attached "BROKER PARTICAPATION REGISTRATION FORM" , printed on the broker's letterhead, mailed, faxed or hand delivered to United Country. The registration must include the signatures of the broker and prospect, the broker's real estate license number, and the prospect opening bid for the property. The registration must be received by United Country at least 48 hours prior to commencement of the auction. UNDER NO CURCUMSTANCES WILL BROKER REGISTRATION BE ALLOWED ON THE DAY OF THE AUCTION. In addition, to qualify for a commission, the broker must attend the auction with prospect, must have shown the property to the prospect before the auction, and the sale of the property to prospect must close. A BROKER CANNOT ACT AS A PRINCIPAL AND BROKER ON THE SAME TRANSACTION.

18. AGENCY. United Country Auctions is acting exclusively as an agent for the Seller. United Country is not acting as an agent for the buyer with respect to any transaction contemplated under these terms and conditions. United Country has the exclusive right to list and sell the property put up for sale at the auction. All negotiations concerning the sale of the property must be conducted through United Country Four Oaks Realty.

19. APPROVAL OF PROBATE COURT. The closing of the sale of the property shall be contingent upon the approval of the sale for closing by the Probate Court of Morgan County, Alabama. The sale is also subject to owner confirmation


Personal Propety Terms & Conditions

1.1O% Buyer’s Premium for Cash or Certified Funds 13% Buyers Premium for all Other Forms of Payment. Credit & Debit Cards accepted. Announcements on Auction Day take precedence over all printed material.

2.Everything must be PAID IN FULL on the day of the auction, reguardless of when it is picked up.

3. Everything will be sold "AS IS WHERE IS" with no guarantees of any kind, reguardless of statement of condition made from the auction block. Buyers shall rely entirely on their own inspection and information.

4. Every effort is made to "guard" merchandise throughout the auction; however, the bidder becomes soley responsible for all items purcased by him immediately following his winning bid. Therefore, he is advised to further guard his items at his own discretion.

5. The bidder is responsible for knowing which item he is bidding on. If he is unsure, he should inquire or not bid. When you become the winning bidder at auction you have effected a contract and will be expected to pay for items in which you were evidenced to be the successful bidder. Auctioneer will not honor "mistakes".

6. The Auctioneer reserves the right to accept bids in any increment he feels isin the best interest of his client the seller. The Auctioneer reserves the right to reject the bidding of any person whose conduct, actions, or adverse comments he feels are not in the best interest of the seller.

Summit Chase Farms Auction 935 Acres including 50 Acre Lake Juby. This is Sportsman's Paradise with Hunting and Fishing Galore. There are Two Homes on the Property. 1) 2332 Square Feet Log Home with 4 Bedrooms, 3 Bathrooms and 2 Large Decks 2) 2608 Square Feet Two Story Brick Home Built in 1964. Property will be offered in 15 Tracts, individually, combinations and as a whole. Auction will have heavy equipment including a 1992 Komatsu Bulldozer Model D-65-E8, 2001 Caterpillar 416C Backhoe, Massey Ferguson Tractor, Trailers, Bushhog, Disc Auction is April 7th at 10am on Site. On Auction Day Use West Entrance to Property: 1089 Neel School Road, Danville, AL 35619 PROPERTY INFORMATION Property Location: The property is located in Morgan County, Alabama. The property has frontage on Boger Loop Road, Boys Ranch Road and Neel School Road. The address for the southeast entrance to the property is 62 Simms Private Drive, Hartselle, AL 35640 and the west entrance is 1089 Neel School Road, Danville, AL 35619. Auction location will be the west entrance. The property is not located in the city limits. Most of the property is located within the planning jurisdiction of the City of Decatur. Property Size/Boundaries: The survey provide by Pugh Wright McAnally, Inc. and the Morgan County Revenue Commissioner show a combined total of 935.26 acres including a 50 acre Lake Juby. No adjustments will be made to sales price if a new survey is different from the current information. The property will be offered in 15 Tracts, combinations and as a whole. Please see chart, maps and surveys included in the auction information package Zoning: The subject property is not subject to zoning. The majority of the property is in the Decatur Planning jurisdiction. The portion of the property in the Decatur Planning jurisdiction would be subject to the City of Decatur subdivision and building regulations. Utilities Information: Joe Wheeler EMC provides the electricity and West Morgan East Lawrence Water and Sewer Authority provides the water. Sewer would be private septic system. Flood Information: A small part of the northern boundary of Lot #1 is in the FEMA Flood Plain. The parts of Lots 14 and 15 around the lake are in the FEMA Flood Plain. The part of Lot 15 along the creek is in the FEMA Flood plain. Please see included Flood Map. There is also a proposed change to the FEMA Flood maps that will be adopted in the future. The change will not remove this property but will adjust the area. That information may be viewed at alabamaflood.com CRP: The Conservation Reserve Program (CRP) is a voluntary program for agricultural landowners. Part of the property is in the CRP as Farm 699  Tract 4587.  The contract ends on 9-30-2018.  Typically with CRP trees, the contract can be renewed for 10 years on  Oct 1.  The renewal would depend on funding in fy 2018 budget which has not been approved . The new owners will need to come to the Farm Service Agency office in Hartselle and change the ownership of the property.  They will need to bring the deed of the property and the CRP contract will be put in their name. There is map in this package showing the locations of the CRP. Stewart Forestry Services, INC planted 13,100 Water Oak, 13,100 Yellow Poplar, 750 Bald Cypress, 13,000 Cherry Bark, 13,700 Nuttall Oak, 13,100 Overcup Oak, 13,100 Shumard Oak trees in March 2004 at a cost of $29,149.90. Lot #1: Lot 1 is 38.53 acres. It has 191 feet of road frontage on Neel School Road. A small part of this lot along the northern boundary is in the FEMA flood plain. Please refer to the flood map included in this package. A part of this lot is in the CRP. This lot is in the Decatur Planning jurisdiction. Lot #2: Lot 2 is 9.48 acres. It has 300 feet of road frontage on Neel School Road. A part of this lot is in the CRP. This lot is in the Decatur Planning jurisdiction. Lot #3: Lot 3 is 9.50 acres. It has 300 feet of road frontage on Neel School Road. A part of this lot is in the CRP. This lot is in the Decatur Planning jurisdiction. Lot #4: Lot 4 is 9.53 acres. It has 300 feet of road frontage on Neel School Road. A part of this lot is in the CRP. This lot is in the Decatur Planning jurisdiction. Lot #6: Lot 6 is 9.43 acres. It has 300 feet of road frontage on Neel School Road. A part of this lot is in the CRP. This lot is in the Decatur Planning jurisdiction. Lot #7: Lot 7 is 9.34 acres. It has 300 feet of road frontage on Neel School Road. A part of this lot is in the CRP. This lot is in the Decatur Planning jurisdiction. Lot #8: Lot 8 is 9.25 acres. It has 300 feet of road frontage on Neel School Road. A part of this lot is in the CRP. This lot is in the Decatur Planning jurisdiction. Lot #9: Lot 9 is 25.70 acres. It has 187 feet of road frontage on Neel School Road. The southern 664 feet of the lot facing Neel School Road does not touch the Neel School Road right of way. There is small tract of land between the lot and Neel School Road. A part of this lot is in the CRP. This lot is in the Decatur Planning jurisdiction. Lot #10: Lot 10 is 9.1 acres. It has approximately 195 feet of road frontage on Neel School Road. Lot 10 is a combination of two tax parcels. The parcel numbers are 13 05 21 0 000 009.002 and 13 08 28 0 000 001.014. This lot is in the Decatur Planning jurisdiction. Lot #11: Lot 11 is 32 acres. It has approximately 1120 feet of road frontage on Boys Ranch Road and 1280 feet of road frontage on Boger Loop Road. Lot 11 is Morgan County Tax Parcel number 13 08 34 0 000 007.000. There are two out parcels in this tract with houses on them. Both houses have a right a way across this tract to their property. Lot#12: Lot 12 is 3 acres. It has approximately 110 feet of road frontage on Boger Loop Road. Lot 12 is tax parcel number  13 08 34 0 000 005.000 . The home is in very poor condition. There are two out parcels on Lot 11 that have access to Simms Private Drive and right of way for their driveway. Lots 13,14, and 16 have a right of way for Simms Private Drive. Lot #13: Lot 13 is 39 acres. Lot 13 is a tax parcel number 13 08 34 0 000 006.000. Road access is provided by Simms Private Drive. Lot will have a right of way to use Simms Private Drive to Boger Loop Road. Lots 14 & 16 have a right of way to use Simms Private Drive across Lot 13. This lot has a two story brick home on it. Morgan County Revenue Commission list the base area of the home at 2608 square feet with a total adjusted area of 5728 square feet. Records show the home to have been built in 1964. It is a two story brick home. The home has been vandalized. There are two old chicken houses/barns approximately 8000 square feet each. There is a barn with hay loft. Lot #14: Lot 14 is 161 acres. Lot 14 consist of two tax parcels 13 08 27 0 000 007.000 and 13 08 27 0 000 006.000. Road access is provided by Simms Private Drive. Lot will have a right of way to use Simms Private Drive to Boger Loop Road. Lot 16 has a right of way for their driveway and Simms Private Drive. This lot has 28 acres of Lake Juby on it. The area around Lake Juby is in the FEMA flood plain. Part of Lot 14 is in the Decatur Planning Jurisdiction. A small area of Lot 14 north of big lake may be in the CRP. Lot #15: Lot 15 is 569.4 acres. 22 acres of Lake Juby is on this lot. It has approximately 300 feet of road frontage on Neel School Road. Lot 15 is a combination of seven tax parcels consisting of 13 08 34 0 000 003.003, 13 08 27 0 000 005.000, 13 05 22 0 000 015.000, 13 07 26 0 000 007.001, 13 07 26 0 000 012.005, 13 07 26 0 000 012.006 and 13 07 26 0 000 013.000. It also includes Lot #5 shown in the Pugh Wright, McAnally survey. Lot 5 provides the public road access for this lot. Part of the lot is in the FEMA flood plain. Flood map is included in this package. A portion of this lot is in the CRP. Part of this lot is in the Decatur Planning Jurisdiction. A portion of the North and East boundary is West Flint Creek. Lot #16: Lot 16 is 1 acre. It is has a right of way for Simms Private Drive across Lots 12, 13 and 14. It also has a right of way from the end of Simms Private Drive to it’s property line. There is 2,332 square foot log home with two car garage, basement, and two decks. The basement is a daylight finished basement. The basement is 1166 square feet of the home. Home has 4 bedrooms, 3 bathrooms and a safe room. The decks are 12x28 with 4x16 side area with one over the other. The decks overlook Crawford Creek. Address for this tract is 182 Simms Private Drive, Hartselle, AL 35640 Preview By Appointment Call Mark Hampton at (256) 565-5907 Auctioneers Mark Hampton AAL# 5114 & Dwight Tankersley AAL# 5325