AUCTION TERMS & CONDITONS: REAL ESTATE

This auction is for (4) properties, Cherokee County Tax Map #'s included in each description. Please review each property description in full prior to bidding. The auction will be held online through Thursday, March 12th, 2020 at 5:00 PM. Properties are selling per Lavender, Smith & Associates Inc. surveys dated 1.21.20 noting acreage, as Cherokee County Tax Map #'s do not accurately reflect acreage in sale. Buyer will be responsible for survey fee's at closing.

1. Property Inspection & Disclaimer: It is the Purchaser's sole responsibility to perform his own due diligence, including verification of all property information and public records. Information presented herein and in any advertisement or other promotional items, while gathered from sources believed to be reliable, are not warranted or guaranteed by Auctioneer T, Randolph Ligon, nor the seller. Personal inspection and verification of any and all items is the responsibility of the bidder. The property is offered "AS IS" and no warranty or guarantee of value, condition, suitability or fitness for a particular use or purpose is expressed or implied. By placing a bid, Bidder waives all rights to further inspections, including lead based paint inspections.

2. Property Disclosure: The property is selling subject to the rights-of-way and easements of record. See the Property Information Package for further disclosures.

3. Bidder Registration: While there is no obligation to bid, you must register to bid, by showing proper credentials.

4. Buyer's Premium: A ten percent (10%) Buyer's Premium will be added to the final bid price and included in the total contract price. Buyer's Premium does not imply an agency relationship between Auctioneer and Bidder/Buyer.

5. Reserves: This property is being sold subject to seller confirmation, meaning the seller has up to 7 days to accept or reject the high bid. This Property has a Reserve Price, meaning the seller has established an unpublished, minimum selling price. The starting bid is not the reserve price. In order to win the Auction a bidder must meet or exceed the reserve price and have the highest bid. If no bidders meet the reserve price then the seller is under no obligation to sell the property but may do so at their discretion. Auctioneer reserves the right to bid on behalf of the Seller, up to the reserve price. The reserve price is confidential and may not be disclosed.

6. Purchase Contract: Once the high bidder is determined, and the bidding is closed by the Auctioneer, the high bidder will be required to sign the Purchase Contract for the amount of the high bid plus the 10% Buyer's Premium which totals the contract price. Other documents may also require signature. Seller will have 7 business days to accept or reject the contract.

7. Deposit: In addition to signing the contract, the high bidder will be required to pay, in US funds, a down payment of 10% of the final contract price. All down payments are non-refundable and will be held in the auctioneers trust account. Down payments will be credited toward the purchase price at closing. Acceptable forms of payment are bank wire, cash or cashier's check. Personal or company checks may be accepted, at the discretion of the auctioneer. A bank letter of guarantee may be required for personal or company checks. Online bidders who fail to return the deposit and signed contract within 48 hours of the conclusion of the auction will have a $2500.00 service fee charge to the credit card used at registration.

8. Contingencies: There are none. Bidder understands and agrees that the sale is not contingent upon financing, appraisals, further inspections, survey, third party approval, or the like. You are bidding to buy the property AS IS with NO CONTINGENCIES WHATSOEVER.

9. Closing: Closing will take place within 30 days. All closing costs will be paid by the Buyer, including title search, survey, deed preparation, documentary stamps, recording fees, attorney fees, etc. Property taxes will be prorated to the day of closing. Any required additional survey will be the responsibility of the Buyer.

10. Title Insurance, if desired, will be purchased by the Buyer.

11. Agency Disclosure: Auctioneer T, Randolph Ligon is acting exclusively as an agent for the Seller. The Auctioneer is not acting in any way as an agent for the Bidder/Buyer. Auctioneer is not a Dual Agent.

12. Equal Opportunity: All bidding is open to the public. The property is available to all qualified purchasers without regard to race, color, religion, familial status, national origin, or handicap/disability.

13. Miscellaneous: All decisions of the auctioneer are final as to methods of bidding, disputes among bidders, acceptable bidding increments and other matters that may arise before, during, or after the auction sale day announcements take precedence over any prior statements, printed material or advertising.

Bidders Acknowledgement: I have received a copy of these terms and conditions understand them and agree to abide by them. I have received a copy of the agency disclosure brochure and understand that the auctioneer is the agent of the seller, and only the seller. I agree to the terms and conditions stated herein. Should I become the high bidder, I will sign the Purchase Contract and other documents as may be required. This document will become part of the non-contingent contract of sale to purchase the property described herein.

BY REGISTERING FOR THIS AUCTION YOU HEREBY AGREE TO THE TERMS AND CONITIONS THEREIN

Online Bidding Tips:

Bidding Style is Staggered: Each lot will close 1 minute after the first lot in the auction consecutively. Lots will begin closing at 5 PM and continue until the final lot has closed.

& Soft Close: If a bid is placed on a lot during the last two minutes of bidding, the time will be extended by two minutes each time.

**** If you are bidding at the close of the Auction, please make sure to select "LIVE CATALOG VIEW" to view the auction in real time. If you do not view the "LIVE CATALOG" at the conclusion of the Auction, you may need to manually refresh your computer screen. We recommend being signed into the Auction at least 15 minutes prior to closing, if you wish to bid during auction closing.

**** You may also enter your "Maximum Bid" to have the computer bid on your behalf up to a set amount.

Please contact our office at 803-366-3535 for assistance with Online Bidding.

Multi-Property Auction in Gaffney, SC: 3 Commercial Development Sites & Restaurant Opportunity Bid online through March 12th at 5:00 PM, EST www.TheLigonCompany.com Lot 1: 1.5± Acre Prime Commercial Development Site 139 Lemmons Lane, Gaffney, SC: Great visibility and frontage, with easy access to I-85 and high traffic count, excellent topography for commercial development. Located near Gaffney Outlets, ideal location for Hotel, fast food or retail. Cherokee County parcel #063-00-00-045.003 Lot 2: GrandDaddy's BBQ Turnkey Restaurant 139 Lemmons Lane, Gaffney, SC: Popular Restaurant & Country Store specializing in slow-smoked BBQ alongside delicious homemade sides. Kitchen fully equipped, Outdoor/Patio Dining, continuously in operation since 2015. Keep same model or bring your own concept. Great reviews on Google, TripAdvisor & Yelp. 2.7k followers on Facebook. Excellent location less than a half mile from Exit 90, near Gaffney Outlets. Great visibility and high traffic count. 3,000± Sq. ft. building on 1.36± Acres, Cherokee County parcel #063-00-00-045.003. Lot 3: 2.67± Acre Prime Commercial Development Site 144 Lemmons Lane, Gaffney, SC: Great visibility and frontage, with easy access to I-85 and high traffic count, excellent topography for commercial development. Located near Gaffney Outlets, ideal location for Hotel, fast food or retail. Cherokee County parcels #063-00-00-045.002 & .003 Lot 4: 1.04± Acre Prime Commercial Development Site 1035 Hyatt St, Gaffney, SC: Great visibility and frontage, with easy access to I-85 and high traffic count, excellent topography for commercial development. Located across from Gaffney Outlets, ideal location for Hotel, fast food or retail. Cherokee County parcel #062-00-00-029.008 Accepting pre-auction offers. Broker participation offered. Call Randy Ligon, CAI, CES, BAS o 803-366-3535 Please visit www.TheLigonCompany.com for complete details, terms and conditions. Commercial Investments | Brokerage | Auctions SCAL1716, SCRL17640, SCAFL4120, NCAL8951, NCRL183864, NCAFL10066, NCRFL28666 Online Bidding Tips: Bidding Style is Staggered: Each lot will close 1 minute after the first lot in the auction consecutively. Lots will begin closing at 5 PM and continue until the final lot has closed. & Soft Close: If a bid is placed on a lot during the last two minutes of bidding, the time will be extended by two minutes each time. **** If you are bidding at the close of the Auction, please make sure to select "LIVE CATALOG VIEW" to view the auction in real time. If you do not view the "LIVE CATALOG" at the conclusion of the Auction, you may need to manually refresh your computer screen. We recommend being signed into the Auction at least 15 minutes prior to closing, if you wish to bid during auction closing. **** You may also enter your "Maximum Bid" to have the computer bid on your behalf up to a set amount. Please contact our office at 803-366-3535 for assistance with Online Bidding.