Online Auction Bidders Agreement

THIS IS A LEGALLY BINDING DOCUMENT. IF YOU DO NOT UNDERSTAND THE TERMS AND CONDITIONS AS SET FORTH HEREIN, PLEASE CONSULT AN ATTORNEY PRIOR TO SIGNING OR BIDDING.

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:

PROPERTY: 125+/- acres located at: 324 EK/CQ Line, Grenola, KS, 67346, and more particularly and legally described as follows: The West Half of the Southwest Quarter and the Southwest Quarter of the Northwest Quarter of Section 36, Township 31 South, Range 8 East of the 6th P.M., Elk County, Kansas. Subject to public road.

BIDDING OPENS & CLOSES:

• Online Bidding Opens on Saturday, June 1st, 2019 at 7:00pm (CST)
• Online Bidding Closes on Thursday, June 27th, 2019 at 7:00pm (CST), subject to the "soft close" function (see description below)

By signing below, I acknowledge that I have read and fully understand the Online Auction 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 (877) 318-0438 with any questions regarding the auction, purchase agreement or terms & conditions, prior to placing any bids in said auction.
Online Auction Terms & Conditions

1) Confirmation Auction: The property is being offered in an Online Only Auction, subject to confirmation (approval) by the estate, upon conclusion of the auction.

2) Bidding Registration: Online bidder hereby agrees that they must be properly registered for the online auction by completing and signing the (Online Auction Bidders Agreement), which will be sent by email via DocuSign. Upon completing this registration form and receiving 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 (i.e. Internet Auction) bidding shall be opened and begin closing on the dates and times stated above.

4) Property Preview Dates: The property can be previewed on Saturday, June 15th from 1:00pm to 4:00pm. To view the property, contact the auction manager (Darrin Addison 620-338-0894). It is recommended to all bidders to personally inspect the property prior to placing any bids in the auction. Property inspections are the sole responsibility of the bidders.

5) 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 and sale agreement.

6) Buyer's Premium: A Five Percent (5%) 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 an Auction Real Estate Sales Contract to purchase the property. A signed copy of the Auction Real Estate Sales 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 Auction Real Estate Sales Contract may be (hand delivered, faxed, or scanned and emailed). A sample purchase contract is available for review online prior to placing any bids in the auction.

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, July 26th, 2019. Closing shall take place at Walnut Valley Title, LLC, 116 East 9th Ave., Winfield, Kansas 67156. Closing Agent is Debbie Shaver (Escrow Officer) and their contact information is (620) 229-7700 and dshaver@walnutvalleytitle.com. Out of state buyers will be afforded the opportunity to close via email, mail and wire transfer of certified funds.

10) Easements: The sale of the property is subject to any and all easements of record.

11) Minerals: The seller's share of minerals (if any) will transfer with the surface at closing.

12) Survey: Seller does not require any survey. If the Buyer desires survey, it shall be at the Buyer's sole expense.

13) Possession: Possession of the property will be given upon payment in full of the purchase price and transfer of title at closing, subject to an existing agricultural and livestock lease, which expires on October 15th, 2019.

14) Title Insurance: Title Insurance in the full amount of the purchase price will be provided by the seller. Seller shall execute a general warranty deed conveying the property to the buyer(s).

15) Taxes: Seller shall pay the 2018 and all prior year real estate taxes. 2019 real estate taxes will be Pro-Rated to the date of closing.

16) Online Auction Technology (Disclaimer): Under no circumstances shall Bidder have any kind of claim against United Country – Kansas City Auction and Realty, or anyone else, if the Internet service fails to work correctly before or during the auction. Online bidding is subject to technology faults and issues which are outside the control of the auction company. Bidder(s) are encouraged to use the "Maximum Bid" feature on the bidding platform and lock in their maximum bid amount, if they are concerned about technology failure during the auction.

17) Soft Close: If a bid is received within the last 3 minutes of the auction, the auction close time will automatically extend 3 minutes to allow other bidders an opportunity to competitively bid prior to the auction closing. This feature encourages fair and impartial bidding activity from all registered participants.

18) 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. The Auctioneer reserves the right to bid on behalf of the Seller up to, but not beyond the Seller's reserve price (if applicable). The property is available for and subject to sale prior to auction. By participating in this auction, Buyers hereby acknowledge that any bid(s) placed by them is a binding agreement to purchase the property, subject to the bid being approved by Seller (if applicable).

19) Pre-Auction Sales: As an exclusive agent for the Seller, the Auctioneer shall present any and all bona fide written offers to the Seller, which may be created outside of the online bidding platform. Therefore, all properties are subject to pre-auction sales. Pre-auction offers must meet all of the auction terms and conditions, and must be submitted to the Auctioneer on the Auction Real Estate Sales Contract, along with the required earnest deposit. Properly submitted offers will be presented to the Seller in a timely manner. Seller may accept or reject such offer at their sole and absolute discretion.

ONLINE ONLY AUCTION PRIME HUNTING LAND * LIVE WATER * KANSAS DEER MANAGEMENT UNIT 12 * FLINT HILLS REGION QUIET AREA * CATTLE GRAZING * HOME * MACHINE SHOP * ELK COUNTY, KANSAS ONLINE BIDDING OPENS: Saturday, June 1st, 2019 at 7:00 PM (CST) ONLINE BIDDING CLOSES: Thursday, June 27th, 2019 at 7:00 PM (CST) REGISTER & BID ONLINE: Go to www.AuctionKansasCity.com and register online. All bidding is conducted online only and registration can take up to 24 hours, so please register before the last day. PROPERTY LOCATION: From Grenola, KS – Go 1 mile West on Highway 160, and turn South on Road 4. Continue South for 3 miles, then turn West on Valley Road (Elk/Chautauqua County Line) and go ¾ mile. The property is on the North side of the road. Watch for Auction signs. MAP LINK: https://uc.mapright.com/ranching/maps/80862add38063ce9885b295e2da7fa3c/share LEGAL DESCRIPTION: The West Half of the Southwest Quarter and the Southwest Quarter of the Northwest Quarter of Section 36, Township 31 South, Range 8 East of the 6th P.M., Elk County, Kansas. Subject to public road. ACREAGE: There are 125 +/- acres according to Elk County, Kansas. PREVIEW DATES: Saturday, June 15, 2019 from 1:00pm to 4:00pm GENERAL DESCRIPTION: This 125 +/- acre farm is located in the Flint Hills Ecoregion of Southeast Kansas, on the Elk and Chautauqua County line. It is comprised of a mix of open pasture/ hay ground and moderate to heavy timber. The property is fenced for cattle, with ample water provided by Spring Creek as well as multiple ponds. The property has excellent access via county road, which ends at the southwest corner of the farm. There is a home, garage and large equipment shop. HOMESTEAD: The two-story farmhouse is over 100 years old, and contains 3 bedrooms and one bathroom and approximately 1600 sq. ft. of living space. There is a detached garage, as well as a large equipment shop complete with concrete floor. Interesting point: next to the home, there are several very large Oak trees believed to be over 350 years old – and according to the family, KSU ranked these oak trees as some of the oldest and largest in the state of Kansas! The history of this property continues with the remnants of a primitive ice-house, with one of the stones stamped "1806". The property is located on a dead-end county road and the house is a quarter mile back from the road, so the location is perfect for privacy and secluded enough for quality recreation and hunting. HUNTING LAND: The Flint Hills Ecoregion covers 11,400 square miles and contains the last large pieces of tallgrass prairie in the country. Located in Kansas Deer Management Unit 12 and Turkey Management Unit 6, there is excellent opportunity for whitetail deer, turkey, prairie chicken, and quail hunting. A trail system allows for convenient access of the entire property by truck or UTV, and there are multiple blinds already in place to hunt from. The mix of open and cover areas along with water sources make this prime habitat for a variety of wildlife. SOIL TYPES: The primary soil types on the farm are: Ivan silt loam, Benfield cherty silt, Mason silt loam, Eram silty clay loam, Clime-Sogn complex and Bates loam. TAXES: The general taxes for 2018 were $2,137.62. MINERALS: The Seller's share of mineral rights will sell with the surface. AUCTIONEERS NOTE: This farm has been in the Miller Family for many years and due to the passing of their father (Charles F. Miller), it is now being made available. The farm will offer the new owners an excellent opportunity for hunting, cattle grazing and rural Kansas living. Don't miss this opportunity to purchase a nice Elk County, Kansas farm. SELLER: CHARLES F. MILLER ESTATE