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.

I ________________________________ (Buyer) agree to immediately enter into the Real Estate Auction Purchase Contract approved by Seller, if I am declared the high bidder (winning bidder) by the auctioneer during the following auction: 104 1st Ave E Units 1-15 Newton, IA 50208
Legal Description: The full legal description shall be provided by the Title Company.

Online Auction Dates:
- Online Bidding Opens on Wednesday April 1st 2026 at 6:00 pm (CT)
- Online Bidding Closes on Thursday, April 30th, 2026 at 6:00 pm (CT)
By signing below, I agree 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 | Heritage Brokers & Auctioneers, 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) Seller Confirmation Auction: The property is being offered in an Online Only Auction, with all bids being subject to the Seller�s approval.
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 lucinda@buyheritage.com. Seller(s) may at their sole discretion request additional registration requirements from any bidder unknown to them or the auction company.
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, subject to the soft close feature as outlined below.
4) Property Preview Dates: It is highly encouraged that prospective bidders tour the property and conduct their own assessment, prior to bidding. The Property will be open for preview on the following dates.
- Saturday, April 11th at 10:00am to 12:00pm (CST)
- Saturday, April 25th at 10:00am to 12:00pm (CST)
To arrange a tour of the property, please contact Scot Bergman with Agency Iowa at
Direct: (515) 571-4363 or email: scotbergmanrealestate@gmail.com
5) Buyer�s Premium: A Ten Percent (10%) 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. Example: (winning online bid $100,000 + 10% buyer�s premium = total purchase price of $110,000).
6) Cash Offer/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 agreement. Purchase and sale are conducted in U.S. Funds only.
7) Purchase Contract: Winning bidder hereby agrees to enter into the Real Estate Auction Purchase Contract which has been approved by the Seller, immediately upon being declared the Successful Bidder by the Seller. 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 the Auctioneer, 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 e-signed, hand delivered, or scanned and emailed. A sample purchase contract is available for Bidder to review prior to bidding in the auction.
8) Down Payment: A Ten Percent (10%) non-refundable down payment based on 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, May 29th, 2026. Closing shall take place with Danielle Guisinger at Settle Up Iowa, email is danielle.g@settleupiowa.com, phone number is (515) 864-9370. 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: No survey is required to transfer the property as the property is legally described. If the buyer desires any additional survey, it shall be at the buyer 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.
14) Abstract and Title: Seller shall provide Buyer an abstract of title showing marketable title in accordance with Iowa State Bar Association standards and the laws of the State of Iowa. Buyer shall have the opportunity to examine title, and Seller shall make reasonable efforts to cure defects (if any). If marketable title cannot be conveyed, Buyer may accept title as-is or terminate and receive a return of down payment as Buyer�s sole remedy. The abstract shall become the property of Buyer upon payment in full of the Purchase Price.
15) Taxes & HOA Fees: Seller shall pay any previous years taxes & fees (if due), and the current year�s real estate taxes & fees shall be prorated to the date of closing.
16) Online Auction Technology (Disclaimer): Under no circumstances shall Bidder have any kind of claim against Agency Iowa or United Country - Heritage Brokers & Auctioneers, Broker of record, or anyone else, if the Internet service fails to work correctly 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. The SELLER and/or Auction Company reserves the right to (pause) the online auction bidding in the event of any internal or external technology failure, to preserve the integrity of the auction event and maintain a fair and impartial bidding environment.
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 eliminates "snipers" and encourages fair and impartial bidding from all 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 agent for the Seller, the Auctioneer must 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 should meet the auction terms and conditions, and must be submitted to the Auctioneer on the approved Auction Real Estate Sales Contract, along with the required down payment. Properly submitted offers will be presented to the Seller in a timely manner. Seller may accept or reject such offers at their sole and absolute discretion. All pre-auction offers should allow a minimum of 24 hours for seller�s acceptance.

ONLINE ONLY AUCTION * IOWA COMMERCIAL REAL ESTATE * 15-UNIT CONDOMINIUM PORTFOLIO The Jewel Condominiums � 2nd Level | Newton, Iowa Online Bidding Ends: April 30th at 6:00 PM (Central Time) Register & Bid Online: www.BidHeritage.HiBid.com Property Address: 104 1st Ave E Units 1-15 Newton, IA 50208 Downtown Investment Opportunity with Upside Located in the heart of downtown Newton, across from the courthouse, this offering includes 15 deeded condominium units selling as a complete portfolio. A rare opportunity to acquire and complete a nearly finished multifamily redevelopment project. Property Highlights - 15 Total Units (All Deeded Condominiums) - 10 Units Nearly Complete - Renovated with quality Amish craftsmanship - 5 Units Ready for Completion - Taken down to the studs - Some remaining building materials on-site - Total Building Area: 7,693 � Sq. Ft. - Unit Mix: - 11 � 1 Bedroom - 4 � Efficiency Units - Common Areas Updated - Located on the 2nd level of the historic Jewel Building - (2) Entrances: 1st Avenue & 1st Street - Taxes: $7,552 (2025) - HOA Association Dues: $12,250 Building Features - City water & sewer - Electric forced air heat - Central air conditioning - Concrete streets, sidewalks, and walkable downtown location - Elevator service - New Roof replaced (2025) Investment Potential This project was a passion redevelopment by the current owner and remains vacant, allowing a new investor to complete construction and implement their own leasing or resale strategy. Ideal for investors seeking: - Multi-family portfolio opportunity - Desirable location, near completion - Strong small-market rental demand Auction Details - Online-Only Bidding: www.bidheritage.hibid.com - Offering: All 15 condo units as (1) portfolio package - Online Bidding Ends: April 30th at 6:00 PM (CT) - Terms: Cash and closing on or before 30 days following auction Showings & Information It is highly encouraged that prospective bidders tour the property and conduct their own assessment, prior to bidding. The Property will be open for preview on the following dates. - Saturday, April 11th at 10:00am to 12:00pm (CST) - Saturday, April 25th at 10:00am to 12:00pm (CST) To arrange a tour of the property, please contact Scot Bergman with Agency Iowa, at the contact information below. Contact For details, due diligence materials, or to schedule a tour contact: Scot Bergman, associate broker Agency Iowa License: #B66742000 Direct: (515) 571-4363 Email: scotbergmanrealestate@gmail.com Disclaimer All information is believed to be accurate but not guaranteed. Buyers should conduct their own due diligence and personally inspect the property prior to bidding. Property is being offered at auction in �As Is� condition.