Sale Terms and Important Information

Terms & Conditions of Looper Auction & Realty

NOTICE: By Placing a Bid, Bidder agrees to the following terms.

There will be a 10% Buyer`s Premium.

There will be a 3% premium for Use of a Credit / Debit Card.

We accept Visa, American Express, or Master Card.

Accepted Payment Methods are:

Master Card, American Express, Visa, & U.S. Dollars. All Funds are Due at Close of Auction on (July 27, 2015).

Auction Company:  Looper Auction & Realty II, LLC

                                  4525 Palestine Road

                                  Huntington AR 72940

                                  (479) 996-4848

                                  Terms

Registration finalizes – Each bidder agrees to terms and conditions of sale.  Do not bid unless you agree to be bound by these terms.Property to be sold as is where is with faults, without express or implied warranties of any kind.  Buyer is to perform all inspections prior to auction with professionals of their choosing.  Looper Auction & Realty  II, LLC represents the sellers only and does not inspect properties on behalf of buyers and assumes no responsibility for the correctness of any descriptions.

Buyer must make a 10% non-refundable deposit at the conclusion of bidding.  Buyer must also execute the sales contract and property disclosure (if available) which will be posted prior to the auction.  Balance of purchase price along with all closing costs will be due in approx. 30 days. Buyer to pay all closing costs including 10% buyer’s premium, title insurance, revenue stamps, closing fees, survey, filing costs, and any other fees.  Seller will cure any title problems if necessary.  Taxes will be pro-rated to day of closing.  Auctions are conducted subject to Court, Bank, or Seller approval.  Possession will be upon closing with filing of deed.  10% earnest money will be refunded if seller defaults.Property is sold with no contingencies, buyer should conduct all inspections required by lender prior to auction.  If a lender is being used, buyer should be pre-qualified.

All information given orally or in writing was derived from sources believed to be correct, but is not guaranteed.All real estate dimensions are only approximations.  Buyers shall rely entirely on their own information, judgement and inspection of the property and records.

In Addition:

1. Buyer (The Winning Bidder) acknowledges that s/he has conducted a thorough inspection of the merchandise being purchased hereunder. All merchandise is sold in an AS-IS, WHERE-IS, and AS INSPECTED condition WITH ANY AND ALL FAULTS.

2. The Seller makes no warranties or guarantees, expressed or implied, as to the genuineness, authenticity or merchantability of, or defect in any item, and will not be held responsible for any discrepancies or inaccuracies in any printed materials or otherwise.

3. No warranties are made as to the merchantability of any item or its fitness for any purpose.

4. When paying by credit card, Buyer is waiving any and all rights to initiate a credit card charge-back against the transaction and or the Seller.

5. Credit card transactions will appear on the Buyer`s credit card statement as: Looper Auction & Realty, Greenwood, Arkansas.

6. The Seller reserves the right to withdraw any listed item from the sale, to sell items that are not listed, to group one or more items into one, to subdivide items and to sell any/all items in bulk.

7. You are signing a written, binding contract signifying that you have read these terms and all posted terms and agree to the terms and conditions of the sale. If you do not agree or understand the terms and conditions of the sale, please return your bid card to registration. The sales invoice identifies the merchandise being sold to Buyer.

 8. In the event the Buyer fails to comply with any of the terms and conditions of the sale, the Seller may collect from Buyer damages. Buyer agrees to pay any and all charges and expenses incurred by reason of any breach of the terms and conditions of this sale, including, without limitations, reasonable attorneys` fees and reasonable attorneys` fees on appeal.  Any disputes between the Buyer and the Seller must be filed and litigated in Ft. Smith, Ark., without regard to choice of law provisions, and each party irrevocably submits to the jurisdiction of the Arkansas courts in any such action, suit or proceeding. The validity, meaning and effect of this agreement shall be determined in accordance with the laws of the State of Arkansas. In the event any action, proceeding or hearing is required to enforce any of the terms of this agreement, the prevailing party shall be entitled to recover its costs and expenses incurred therein, including reasonable attorneys` fees and reasonable attorneys` fees on appeal.

9. These written terms and conditions of sale supersede any other terms and conditions, either written or verbal and cannot be modified. The terms of this agreement are for the benefit of Seller and Buyer and no third party shall have any rights hereunder.

10. Buyer shall not permit any liens to stand against the Building or any property related thereto or any portion thereof for any work done in the purchase of this property. Without limiting the foregoing, Buyer shall, at its sole expense and within ten (10) days after receipt of written notice from Seller, cause any outstanding lien to be satisfied and released of record or transferred to bond in accordance with applicable law.

11. Buyer shall indemnify and hold Seller harmless from and against any and all loss, damage, liability or claims (including, without limitation, costs and expenses of litigation and reasonable attorney`s fees collectively "Claims arising from or connected with this agreement, except to the extent such Claims are due to Seller`s gross negligence or willful misconduct. Purchaser does hereby indemnify and hold harmless auctioneer and seller from any and all damages, claims or liabilities from injuries to persons or property of any type whatsoever caused during the sale of items purchased and therefore will not be liable for anyone getting hurt.

12. If for any reason whatsoever, Seller is unable to effect delivery of any purchase or clear title to the same, or any necessary documentation required in respect of any purchase, whether before or after delivery of such purchase, Sellers sole liability, if any, shall be the return of any monies paid on such purchase upon its return to Seller. Any purchase the subject of this paragraph shall be returned or surrendered to the Seller forthwith upon demand, such demand to be at the sole option of the Seller.

13. You are signing a written, binding contract signifying that you have read these terms and all posted terms and agree to the terms and conditions of the sale. If you do not agree or understand the terms and conditions of the sale, please return your bid card to registration.

Bidder Number: ___________________________

By: ______________________________________

Printed Name: _____________________________

Date: ____________________________________