Dale McPherson – Broker

Todd McPherson – Broker Associate

Kevin McPherson – Broker Associate

1. McPherson Auction & Realty and its agents are representing the seller/s in the transaction, and are not responsible for statements made by other parties. Any third party agent is not a subagent of McPherson Auction & Realty

2. Any person or persons interested in purchasing this property can do so by bidding at the auction site or from their own computer, via the internet. We will be happy to help you in any way possible, let us know how we can help. Click on the link in the auction information area the read the internet bidding rules.

3. All bids are in US dollars.

4. All auctions, either onsite or online are cash auctions. All prospective bidders must have their financial arrangements made prior to bidding on any real estate or personal property sold at our auctions. At no time will the sale of any property be contingent upon the high bidder's ability to receive financing, unless otherwise stated in the terms of the sale for that auction. Each auction is different in many respects, therefore terms of the sale are developed to accommodate each auction, be certain to understand the terms for each auction before bidding.

5. An earnest money deposit of 10% will be required from the successful bidder/s day of auction. This earnest money deposit can be in the form of cash, personal or company check or wire transfer.

6. The 10% earnest money deposit will be calculated on the final selling price and will not be refunded to you should you not close on this transaction. At the conclusion of the auction we will meet with you in order to sign the Offer and Agreement to Purchase, and to collect the earnest money deposit. If we are unable to meet in person, we must have a way of contacting you AND you must have a way of receiving fax or email in order to complete the Offer & Agreement to Purchase documents.

7. Should the high bidder not complete the Offer & Agreement to Purchase or not make the required 10% earnest money deposit or not close on this transaction, McPherson Auction & Realty reserves the right to offer the property to the next highest bidders, in their order of finish until a subsequent buyer has been identified, or to return the property to the open market.

8. Seller will furnish buyer with a properly executed deed.

9. Seller will pay the real estate transfer tax.

10. All real estate taxes will be prorated to date of closing.

11. Buyer will pay for the recording of the deed.

12. This transaction will be closed @ Lawrence County Title Company. They are located at 245 N Main Street, Spearfish, SD 57783. 605-642-7304

12A. Seller and Buyer will equally share the cost of the title insurance and the closing fee charged by Pennington Title Company.

13. Property sells "as is where is - with all faults”.

14. Possession will go to the buyer at closing. Closing will take place no later than 30 days after the close of the auction. (see item # 18, below for extended closing period.) We would like to close this transaction as soon as possible, all necessary documents and procedures are in place, we are ready to close.

15. McPherson Auction & Realty are representing the seller's interest in this transaction. Announcements, verbal or message, made during the auction take precedence over any and all other advertising and representations.

16. A (theee percent) 3% buyer premium will be added to the winning bid to arrive at the total contract price being paid for the property.

17. This is a public auction. This property is available to qualified purchasers without regard to race, color, religion, sex, familial status, national origin, or physical handicap.

18. Buyer/s can elect to close on the property after the first of the year (January 2, 2015) if this will accommodate the needs of the buyer/s.

19. Possession of the property will go to the buyer at closing.