AUCTION TERMS AND CONDITIONS

Brownsville Court Square Commercial Real Estate Auction

Webcast 11/05/2026 | 6:00pm CST

Lot 1: 2,888sqft Commerical/Residental Building�
25 N. Court Sq., Brownsville, TN 38012�
MAP 075F, GROUP F, PARCEL 023.00

Lot 2: 2,584sqft Commerical Building�
23 N. Court Sq., Brownsville, TN 38012 �
MAP 075F, PARCEL F 022.00

Lot 3: Combined Lot 1 and Lot 2
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BIDDER RESPONSIBILITY: It is the Bidder/Buyers responsibility to read and review all Terms & Conditions prior to bidding on any property. By bidding on the property, the Bidder/Buyer agrees that these terms will supersede all prior discussions, negotiations, and agreements, whether oral or written. The bidder/buyer agrees his/her actions shall be binding and obligatory upon the undersigned, their separate heirs, administrators, executors, assigns, and successors in the interest of the undersigned. Bidder may not assign the rights afforded the Bidder to any other party without the Seller�s consent. Successful bidder(s) agree to immediately execute a purchase agreement following the conclusion of the auction per the following terms and conditions. By bidding on the property, bidder/buyer agrees to all terms and conditions set forth and will enter into a contractual real estate purchase agreement to purchase the property under the following terms and conditions.��
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CONCLUSION OF THE AUCTION: The Sellers reserve the right to accept or reject any and all bids. The Winning Bidder(s) will enter into a Real Estate Contract immediately following the�conclusion of the�auction. If the Winning Bidder(s) are not physically present (bidding by phone or online), the Winning Bidder(s) will be sent (electronically via DocuSign) a Real Estate Contract. Winning bidder(s) may print the Real Estate Contract and is/are required to fully and correctly complete and properly sign without any modifications. Bidder(s) are required to return the completed, signed contract to Top Tier Auctions, LLC by email by 5:00 PM CST of the day following the auction. Along with the completed, signed contract, the Winning Bidder(s) will be required to wire ($20.00 wiring fee) the specified non-refundable earnest money deposit as stated in the real estate terms within the Real Estate Contract. This non-refundable earnest money deposit will be held in escrow until closing, and that amount will then be credited to the Buyer as part of the purchase price of the property. Wire transfer instructions and escrow agreement forms will be provided to the Buyer along with the contract after the auction. Purchaser shall be responsible for all wire transfer fees. Successful bidders not executing and returning the completed contract and earnest money deposit by 5:00 PM CST the day after the auction will be considered in default. Such default by the Successful Bidder will result in that Bidder�s liability to both the Seller and Top Tier Auctions, LLC. Seller shall have the right to (a) declare this contractual agreement cancelled and recover full damage for its breach, (b) to elect to affirm this contractual agreement and enforce its specific performance or (c) Seller can resell the property either publicly or privately with Top Tier Auctions, LLC and in such an event, the Buyer shall be liable for payment of any deficiency realized from the second sale plus all costs, including, but not limited to the holding costs of the property, the expenses of both sales, legal and incidental damages of both the Seller and Top Tier Auctions, LLC. In addition, Top Tier Auctions, LLC also reserves the right to recover any damages separately from the breach of the Buyer. Both the Successful Bidder and Seller shall indemnify Top Tier Auctions, LLC for and hold harmless Top Tier Auctions, LLC from any costs, losses, liabilities, or expenses, including attorney fees resulting from Top Tier Auctions, LLC being named as a party to any legal action resulting from either Bidders or Sellers failure to fulfill any obligations and undertakings as set forth in this contractual agreement.��


NO CONTINGENCIES: Bidding is not contingent on or subject to Buyer�s financing, appraisal, survey or inspections of any kind or any other contingencies.��

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BUYER�S PREMIUM: There is no Buyer�s Premium for today�s sale.
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MULTI PAR PROCEDURE: The multi-parcel auction method is used to sell multiple parcels (tracts) of real estate at auction, first offering each tract individually, and then in various combinations. The final sales price is determined by the individual or combination of tracts which realize the highest bid. Top Tier Auctions, LLC reserves the right to group, regroup, and revisit each tract or combination. When the tract(s) are offered individually, in combinations, or as a whole, after the initial bids are determined, Buyer(s) understand there will be a minimum raise for any individual tract or combination. We want to remind anyone that if you bid on an individual tract of land, do not leave until all bidding is complete.�


NEW INFORMATION, CORRECTIONS AND CHANGES: Please review all announcements prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.��


EARNEST MONEY/ DOWN PAYMENT: A down payment for not less than ten (10%) percent of the bid will be required upon acceptance of the high bid(s) by wire transfer only. This down payment shall serve as Earnest Money and the balance of the contract purchase price is due in cash at closing. These funds will be held by Wendell Alexander Realty in its non-interest escrow account. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING OR APPRAISAL. Be certain that you have arranged financing, if needed, and are capable of paying for the property in cash at closing.��


ACCEPTANCE OF BID PRICES: The successful Winning bidder(s) will enter into a purchase agreement immediately following the close of bidding for presentation to the seller. Final bid prices are subject to approval or rejection by the seller.��

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CONFLICTS: In the event of any conflict between this document and the sales contract, the sales contract will prevail.��

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POSSESSION & CLOSING: Possession will be given at closing. Successful bidders are purchasing with no financing contingences and must be prepared for cash settlement of their purchase on or before Monday, December 7th, 2026.��


TITLE: Pentecost & Glenn, PLLC will conduct a title search prior to sale date. In the event any remedies need to be made, they will be made before closing. Title will be conveyed with a General Warranty Deed showing the purchase price as bid. The buyer will be responsible for their own closing costs determined from this day till closing.�����

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REAL ESTATE TAXES AND ASSESSMENTS: Current-year real estate taxes shall be prorated between the Estate and Purchaser as of the date of closing. The Purchaser shall be responsible for all real estate taxes and assessments accruing after the date of closing.

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SURVEY: No survey completed.�����

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AERIAL MAPS AND PHOTOS: All maps and photos displaying acreage, boundary lines, are estimates and for illustration purposes only. These are not surveys.��


EASEMENTS: Sale of property is subject to any and all recorded or apparent easements.��

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CONDITIONS OF THE AUCTION: Top Tier Auctions, LLC and Wendell Alexander Realty are acting as agents for the Seller. Any buyer will be unrepresented unless they have an agent representing them today. You will be required to sign a contract, confirmation of agency, lead based paint disclosure, property exemption disclosure, etc., where applicable, at the drop of the hammer. The Auctioneer�s decision is final in the event of a dispute over any Auction matter. The Auctioneer reserves the right to accept bids in any increments he feels are in the best interest of his clients and reserves the right to waive any previously printed or announced requirements. All Auction Day announcements by the Auctioneer supersede any printed material or any other Auction statements made previously. Top Tier Auctions, LLC and Wendell Alexander Realty agents or employees reserve the right to bid on and/or purchase the property. All Auction Sales Contracts will be presented to the seller for approval. The Auctioneer reserves the right to withdraw any property from the Auction, without penalty. Auctioneer may elect to cancel the Auction without penalty if Auctioneer believes that the outcome will not be in the Seller�s best interest. If Seller is not present, the Auctioneer may elect to start or cancel the Auction without penalty. The Auctioneer shall be held harmless by the buyer and seller should the property fail to go to a successful settlement for any reason. The seller, Auctioneer, and its agents shall not be held liable for any errors or omissions regarding Auction property. The buyer assumes responsibility to check with the appropriate authority/authorities regarding the property�s zoning and current or future intended use as well as any restrictions or covenants affecting the property. Auctioneer complies with all federal, state, and local laws regarding the buying and selling of property.��


PROPERTY CONDITION AND INSPECTIONS: These properties are being sold �as is where is� with no warranties or guarantees expressed or implied by Top Tier Auctions, LLC, Wendell Alexander Realty, representatives of the estate, and/or any of its associates.� We do not know of any adverse facts and have completed no termite letters, well tests, electrical inspections, septic letter, etc. (UNLESS STATED OTHERWISE). If you have any questions or concerns, please ask before bidding.� The sale is subject to any and all current building use, zoning, and restrictions. Purchaser(s) understand they had the right to any and all inspections prior to bidding but specifically understand the due diligence period has expired. Further, Seller, Seller�s Agent, and Auctioneer disclaim any and all responsibility for Bidders safety during any physical inspection of the property. No party shall be deemed an invitee of the property by virtue of the offering of the property for sale.�������

Every bidder having interest in real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning.� Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory.� Lead poisoning also poses a particular risk to pregnant women.� The seller of any interest in real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller�s possession and notify the buyer of any known lead-based paint hazards.� A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase.��

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RELEASE OF LIABILITY: The Participant understands that participation in the Auction may involve inherent risks, including but not limited to the risk of injury, illness, or property damage. The Participant acknowledges that they are fully aware of these risks and voluntarily assume all such risks. The Participant hereby releases, discharges, and holds harmless Top Tier Auctions, LLC, Wendell Alexander Realty, and their agents, employees, volunteers, and affiliates (hereinafter referred to as "Released Parties") from any and all claims, demands, or causes of action that may arise from injury or illness to the Participant or any damages to Participant's property, arising out of or related to participation in the Auction.��

All interested parties are strongly encouraged to conduct any and all desired inspections prior to bidding. The seller and auction company assume no liability for the property�s condition, including but not limited to structural, mechanical, or environmental issues. The property is being sold as is, where is, with no warranties or guarantees, expressed or implied. By placing a bid, the bidder acknowledges that they have been given the opportunity to inspect the property and agrees to accept it in it�s current condition. The seller and auction company assume no liability for the property�s condition, including but not limited to structural, mechanical, or environmental issues.��


TECHNICAL ISSUES DISCLAIMER: In the event there are technical difficulties related to the server, software, internet or any other online auction-related technologies, Top Tier Auctions, LLC reserves the right to extend bidding, continue the bidding, or close the bidding. Neither the company providing the software, nor Top Tier Auctions, LLC, shall be held responsible for a missed bid or the failure of the software to function properly for any reason.��


AGENCY AND AUCTIONEER: Top Tier Auctions, LLC and Wendell Alexander Realty are Designated Agents for the Seller.�
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�SELLER: Felica Kobeck and Robert Hamilton


�CLOSING ATTORNEY: Donald Glenn with Pentecost & Glenn, PLLC
162 Murray Guard, Suite B, Jackson, TN 38305

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LIVE WEBCAST & ONLINE MULTI-PARCEL REAL ESTATE AUCTION! Online bidding opens October 5 and concludes with a LIVE WEBCAST on Thursday, November 5, 2026, at 6:00 PM Central at www.TopTierAuctions.com. Don't miss this opportunity to purchase TWO beautifully remodeled commercial buildings located directly on the historic downtown Court Square in Brownsville, Tennessee! Offered individually or in combination, these adjoining properties offer approximately 5,472 combined square feet of commercial and residential space. 23 N Court Square, built in 1952, offers approximately 2,584 SF of beautifully remodeled commercial space, plus a basement with concrete floors. Previously home to an established retail business until the owner's retirement, this property provides versatile space for a variety of business opportunities. 25 N Court Square, built in 1900, offers approximately 2,888 SF, featuring remodeled commercial space, basement storage, and an upstairs 2-bedroom, 2-bath apartment with a separate entrance from Lafayette Street. Significant improvements include the installation of a structural support beam. The property offers potential for both commercial and residential rental income. Located in the heart of historic downtown Brownsville, with convenient access to I-40, Jackson, Memphis, and surrounding West Tennessee communities. BUY ONE OR BUY BOTH! Properties sell using the Multi-Parcel Auction Method. ONLINE BIDDING: OCTOBER 5 � NOVEMBER 5, 2026 LIVE WEBCAST: NOVEMBER 5 AT 6:00 PM CENTRAL BID AT: www.TopTierAuctions.com TOP TIER AUCTIONS | Amanda Driver, Principal Auctioneer | TN License #7664 | 731-499-1461 Auction terms and conditions apply. Square footage, permitted uses, and income potential should be independently verified by prospective bidders.