REAL ESTATE TERMS for PROPERTY: 113 Beverly Drive, Grenada, MS

PROPERTY IS OFFERED UNDER THE SPECIFIC TERMS PROVIDED. PLEASE READ AND REVIEW THE TERMS THOROUGHLY PRIOR TO BIDDING ON ANY PROPERTY. IF YOU HAVE NOT READ AND REVIEWED THE TERMS and all DOCUMENTATION PROVIDED IN THE FILES TAB IN REGARD TO THE CONTRACT OF THE PURCHASE AND SALE OF REAL ESTATE, DO NOT BID.

This is an online auction only, with the bidding ending on Friday, August 23, 2018 at 12 noon.

This online auction is set for automatic approval. You may register for the auction. However, before you bid, please print from the Files Section a Working with a Real Estate Broker. After printing and reviewing, please acknowledge by your signature above the Customer line your acknowledgement of non-representation. In addition, please print the Property Condition Disclosure Statements, review and acknowledgement receipt of the report and before you bid, sign above Buyer before offer. Please email to ruthie@taylorauction.com or fax to 1.662.227.1653. If you have questions about these forms, please call us at 1.662.226.2080.

Taylor Auction & Realty, Inc. has put forth every effort in preparing the catalog for this auction to provide accurate description of the property. The property is sold as-is with no warranty written or implied by Taylor Auction & Realty, Inc. The following information is provided to you as a matter of convenience only, and no representation or warranty, expressed or implied, is made as to its accuracy or completeness.

It is encouraged that you inspect the property you wish to purchase PRIOR TO THE ONLINE AUCTION. No sale will be contingent upon a property inspection by the successful bidder after the auction or is the sale contingent upon Buyer obtaining financing. You are expected to pre-qualify yourself with a lender before the auction. Please review all information supplied and seek appropriate assistance prior to bidding at auction.

All information contained in regard to the properties was derived from reliable sources and is believed to be correct, but is not guaranteed. Printed statements or descriptions by staff or seller are provided in good faith and are matters of opinion. Buyers shall rely entirely on their own judgment and inspection.

Auctioneer has the right to sell this Property in any form or fashion that is legal and ethical in order to produce the best offer to the Seller.

BIDDER BROKER PARTICIPATION:

A Broker Participation Form with complete instructions is available at www.taylorauction.com

BIDDING PROCEDURES:

Our on-line auctions move quickly! If you are interested in bidding at the last minute, bid quickly. If you are a first time bidder, I encourage you to not wait till the last minute. Bid early so you are familiar with the system.

If you win you will be notified by email. In order to have enough time to conduct authorizations, registration must be completed at least 24 hours in advance of the auction. If the day before an auction falls on a holiday or weekend, the deadline is the day before the holiday or the Friday prior to the auction.

In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, and email address at which they can be contacted. This is to insure good communication between Taylor Auction & Realty, Inc. and the bidder throughout any transactions. Each bidder's identity will be verified. Bidding rights are provisional, and if complete verification is not possible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated.

EXTENDED BIDDING:

This auction features EXTENDED BIDDING on all lots! Any lot that receives a bid within FIVE minutes of the Scheduled Closing Time will extend. Bids will remain open until there are no bids placed for FIVE minutes. If you have questions please call us 662-226-2080.

ORDER OF AUCTION:

OFFERING - The real estate will be offered by online catalog bidding.

TERMS:

BUYER'S PREMIUM:

A 10 % Buyer's Premium will be added to your final bid to equal the contract price.

Buyer's Premium example:

Bid price ($50,000.00) + 10% Buyer's Premium ($ 5,000.00) = Total Contract price ($ 55,000.00)

CLOSING/CLOSING TIME:

Time being of the essence, this contract shall be closed as soon as possible within the 30 day period. The seller will pay for preparation of the deed of conveyance and prior real estate taxes past due. All other closing costs i.e. survey fees, title work and other fees associated with the closing are the buyer's responsibility.

CLOSING LOCATION/AGENT:

Closing agent/location will be provided no later than ten days after the auction date.

TAXES:

Prior year taxes will be paid by seller. Current year taxes will be prorated to the day of closing.

POSSESSION:

Purchaser shall receive possession of property at closing.

ACREAGE AND AERIAL PHOTOS: Parcel Dimensions and acreages are based on legal descriptions. Aerial photos are for illustration purposes only and not surveyed boundary lines.

RESTRICTIONS:

Property restrictions are subject to all Specific City, County and State of Mississippi laws, ordinances and regulations. Property is selling to all easements of record. Seller is placing no restrictions on the property. The owner does warrant that they have good merchantable title to the real estate and that they will convey the same with a deed, free from all encumbrances, liens or judgments at the time of closing.

SPECIAL INSTRUCTIONS:

Any special instructions must be written on sales contract today. Complete terms and conditions will be provided prior to auction day and specified within the Contract for the Sale and Purchase of Real Estate showcased in the files section of the project.

AUCTION CONTRACTS:

At the close of the auction, successful bidders will be emailed a contract to be executed and returned to Taylor Auction & Realty, Inc. Successful bidders will deposit 10% of contract price per property in the form of cashier's check or wire transfer to Taylor Auction & Realty, Inc. within 24 hours of contract ratification by seller. The entirety of the remaining balance is due at closing. Purchaser will be responsible for all wire transfer fees. You will be closing on property on which you are the successful bidder in the final manner in which you bid at the auction.

AUCTION BID DEFAULT:

Successful bidder not executing and returning the contract with earnest money deposit within 24 hours of the conclusion of the auction will be considered in default. In the event a winning bidder fails to submit the signed Contract for the Sale and Purchase of Real Estate and 10% of High Bid Price in earnest money deposit, the winning bidder will be charged a penalty fee of $1,000.00 on the credit card provided at auction registration. Additional default remedies are reserved by Taylor Auction & Realty, Inc. and the Seller as provided in the Auction Terms and Conditions and the Contract for Sale of Real Estate. Taylor Auction & Realty, Inc. reserves the right to sell to the second-highest bidder in the event the successful high bidder does not comply with the terms of the sale.

LIQUIDATED DAMAGES:

If the buyer chooses not to close within the stated time and no written extension has been granted by the seller, the buyer will forfeit all of the deposit. If such action occurs, Taylor Auction & Realty, Inc. hereby has the right to disperse the deposit as stated in the listing agreement and the buyer has no claims to such money or property being sold. Liquidated damages are to cover cost of auction, cost incurred by seller, labor cost and additional cost of auction as not defined in this agreement.

Taylor Auction & Realty, Inc.'s INVOLVEMENT IN THIS CONTRACT:

Taylor Auction & Realty, Inc. is the agent of the seller and their fiduciary duties of loyalty and faithfulness are owed to their client (the seller). Taylor Auction & Realty, Inc. is not acting as a buyer's agent. TAR reserves the right to remove or cancel the bids and or bidding rights and privileges of any party, deemed not to be in the best interest of the seller, at any time. The seller and buyer hereby agree that Taylor Auction & Realty, Inc. is a part of this contract and shall receive compensation as stated in agreement hereto or as stated in listing agreement hereby made a part of.

PERSONAL PROPERTY TERMS

IMPORTANT INFORMATION / PLEASE READ BEFORE BIDDING.

GENERAL TERMS OF THE AUCTION

ALL PROPERTY IS SOLD AS IS WHERE IS WITH NO WARRANTY, EXPRESSED, WRITTEN OR IMPLIED and ALL SALES ARE FINAL: Taylor Auction & Realty, Inc. has put forth every effort in preparing the catalog for this auction in regard to disclosing facts and any known defects associated with items prior to the close of sale.

However, Taylor Auction & Realty, Inc. may attempt to describe the merchandise in advertising, on the internet and at the auction, but makes no representations to authenticity, genuineness or defects herein and makes no warranty in connection therewith in regard to description. Descriptions are provided by consignors/sellers. Printed statements or descriptions by staff are provided in good faith and are matters of opinion. In no event shall Taylor Auction & Realty, Inc. be held responsible for having made or implied any warranty of merchant-ability or fitness for a particular purpose. It is the responsibility of the Bidder/Buyer to have thoroughly inspected the item(s) and to have satisfied himself or herself as to the condition and value. Bidders who bid from off-site understands and acknowledges that they may not be able to inspect an item as well as if they examined in person. Taylor Auction & Realty, Inc. will not be responsible for any errors or omissions in the description of the merchandise. Bidder agrees that everything is sold as is and that they may not return any item they purchase. Taylor Auction & Realty, Inc. reserves the right to withdraw or re-catalog items in this auction. All prospective bidders when registering for the auction warrant and represent that they have either inspected the lots or have had the opportunity to inspect the lots and will accept each and every lot in its current condition and location.

Removal Dates and Times: Friday, August 24, 2018 1:00 pm to 5:00 pm; Saturday, August 25, 2018 8:00 am– 12 pm

PAYMENT and REMOVAL TERMS:

If you are picking up at the location site, check or cash is preferred at removal. Please let us know during the bidding process how you are paying. All accounts must be settled at the conclusion of the auction. We request Payment made in full at the end of the auction or on removal day(s). We prefer Cashier's Checks or Wire Transfer if payment is over $5000.00. Visa, American Express, MasterCard and Discover can also be utilized for amounts less than $1000.00 No credit card charge backs allowed. Bidders are charged a 10% Buyers Fee (3% surcharge for usage of credit card). APPLICABLE SALES TAX is CHARGED, UNLESS a resale tax permit number is on file with Taylor Auction & Realty, Inc.

Photo Identification must be presented by the registered buyer to initiate the payment process if unknown to our staff. Payment on each lot must be made by the successful registered bidder for that specific lot. If the registered bidder was bidding for another party and wishes to transfer specific lot(s) to a third party, the registered bidder must affirm to the auction firm that fact. All credit cards presented by the buyer must have been issued to the buyer or the business he/she registered to represent at the auction. Electronic bank transfers for final payment of purchases must originate from an account of the registered buyer or the business the buyer represents. The transfer must include the bidder number and the invoice number.

DECLINED CREDIT CARDS or RETURNED CHECKS:

Any bidders with credit cards declined on reconciliation day or who write us an insufficient check are black-flagged from our system and will not be able to bid on any Marknet auctions.

RETURN CHECK POLICY:

If Taylor Auction & Realty, Inc. receives a returned check; the buyer agrees to pay a $30 returned check fee. Buyer will either agree to pay via certified funds for the entirety of the returned check plus $30 OR return the merchandise. If the buyer returns the merchandise, they are responsible for paying a commission for selling the merchandise, paying the difference in the amount owed after it sells & any other expenses incurred from the resale of the items.

REMOVAL POLICY:

Arrangements for removal must be made prior to the end of the sale. It is the buyers' responsibility to check the entire lot contents before removing from the premises in the presence of a Taylor Auction & Realty, Inc. employee. We will not be held responsible for damaged or missing pieces once the package is in possession of the bidder. It is your responsibility to review your purchases and their condition. Our staff is limited. Therefore, when you purchase large items, please bring enough help. Our staff is here to assist you and all other purchasers in locating items, but not here to transport or load them.

SHIPPING:

The auction company through the United States Postal Service, United Parcel Service or UPS agent can arrange packing and shipping ONLY on small items. Packing and shipping cost are the responsibility of the buyer and includes not only postage but labor and handling charges. Fragile or larger items are shipped by a professional shipping company and may result in higher shipping costs. All items are insured for the purchase price. For practical purposes for both parties, larger items should be physically removed by purchaser and not shipped because of increased cost.

MISSING ITEMS/PROBLEMS IN REGARD TO ITEMS:

We document the contents of each package. We are not responsible for missing items. If we have missed an item in your shipment our documentation will show that. Please notify us within 2 business days of receiving the package if you think something is not included. If our documentation shows it was not packed we will forward immediately at our cost. We are not responsible for boxes opened by anyone other than the owner. Please check the entire box and packaging for contents. DO NOT discard the original shipping box and packaging if you think something is missing. ALSO, if you see a problem with any item received, please notify us within 2 business days of receiving the package to address the particular issue. No claim is responded to after 2 days.

ITEMS NOT PICKED UP:

Any item not picked up on the day(s) of removal, will automatically be charged to your credit card. If items are not picked up, you must contact us (662-226-2080), otherwise the items are held for 7 days at a $10.00 charge per day. If you have a large amount, other charges may apply. In addition to the storage fee, the buyer is also responsible for paying labor costs to prepare your items for removal. If items are not picked up within 7 days of removal day, all items left become the sole property of Taylor Auction & Realty, Inc. & no refund is given. Absolutely NO leniency in regard to this policy! If buyer does not pick up items or make payments up to date on merchandise, the buyer is black-flagged for all MarkNet auctions. This includes all auction companies that are a part of the MarknetAlliance Organization www.marknetalliance.com. This means, you will not be able to bid on any online auction of auction companies associated with Marknet Alliance.

BIDDING TERMS AND BID ACCEPTANCE: All bids are subject to acceptance by the AUCTIONEER/AUCTION COMPANY.

Registration:

In order to better serve our customers, all bidders must provide their name, address, daytime phone number or cell number, and email address at which they can be contacted. Credit card and Driver’s License Information are required at registration also. This is to insure good communication between Taylor Auction & Realty, Inc. and the bidder throughout any transactions. Each bidder's identity will be verified. Bidding rights are provisional, and if complete verification is not possible, Taylor Auction & Realty, Inc. will reject the registration, and bidding activity will be terminated.

BIDDING:

Our online auctions move quickly! If you are interested in bidding, bid quickly, especially at the close of the bidding time. The bidding software will notify bidders by email when they have been outbid. Bidders may also find out if they have been outbid by refreshing the individual lot information or the entire screen. Due to varying internet connections/ speed, please place a max bid or constantly monitor the auction at close of bidding. Sometimes email notifications can be delayed. If you win you will be notified by email. It is recommended that you watch the auction at the extended bidding time session to make sure you are the high bidder.

By placing a bid, you agree to all of the terms and conditions which may be set forth by each individual auction company and expressly acknowledge and affirm that you have read and are familiar with the terms and conditions of each individual auction company as well as each term and conditions of each individual auction. The Auctioneer/Auction Company has the sole discretion to advance the bidding and may reject any and all bids which in the Auctioneers sole discretion does not advance and/or injurious to the auction, including but not limited to minimal suspicious and/or suspect advances. The Auctioneer shall have sole discretion in deciding the successful bidder in the event of a bidding dispute. By placing a bid, you acknowledge that your bid is a legally binding offer to purchase the item or property being auctioned. Times shall be of the essence. Taylor Auction & Realty, Inc. reserves the right to withdraw or re-catalog items in this auction.

Auction company employees may bid on auction items for personal consumption. Winning high bidders are notified by email when all items in the auction have closed. Bidders are responsible for checking their email to receive notification that they have won a lot(s). Auction company employees and/or auction company may bid on auction for absentee bidders or at the direction of interested bidders who refuse to create an online account but desire to bid at the auction.

STAGGERED ENDING: This Auction utilizes a staggered end time of a certain number of lots ending XX minutes. This information will be provided in an information lot before auction end date.

EXTENDED BIDDING:

Our auctions use the Auto-Extend feature. The basic rule is, there must be a minimum of 5 minutes for a bidder to react to a bid. If there is a bid placed in the final 5 minutes for an item, the ending time for that item is automatically extended to allow the 5 minute reaction time. If another bid is received during that 'extended time', the ending time is extended again--and again, if necessary, for 5 additional minutes for each extension. This continues and repeats until there are no more bids submitted. This 'Auto-Extend' feature allows the bidding process to be fairer for every bidder and gives all bidders a chance to respond to any last-minute snipe bid(s). Items are Auto-extended ONLY if a bid is placed within 5 minutes of the scheduled closing time.

MAX BIDS:

Internet bidders who desire to make certain their bids are acknowledged should use the internet bidding feature and leave their maximum bid. When you bid your max, the current bid price does not automatically go to your max bid. Someone else has to bid to increase the current price and the computer will automatically bid up to your max in the increments specified.

REFRESH YOU SCREEN:

Please remember to REFRESH your screen to find out if you have been outbid. To refresh your screen, you need to click on `RESET CATALOG` or REFRESH ALL for the whole page to refresh or use the refresh button on your browser. This is most important at the end of the auction. Please call with any questions 662-226-2080. YOU MUST REFRESH THE SCREEN TO KEEP THE TIME ACCURATE.

SERVER & SOFTWARE TECHNICAL ISSUES:

In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Taylor Auction & Realty, Inc., reserve the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE nor Taylor Auction & Realty, Inc. SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Taylor Auction & Realty, Inc.

Time Increase or Decrease:

In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Taylor Auction & Realty, Inc., reserve the right to extend bidding, continue the bidding, or close the bidding or increase of decrease the extended time amount at the end of the auction.

SOLE AND EXCLUSIVE VENUE & JURISDICTION OF ALL DISPUTES:

Any and all claims, including debt collection and all other disputes of any kind, nature, or character whatsoever arising from this auction sale shall be brought in the appropriate court of Grenada County, Mississippi, and shall be governed by the laws of the State of Mississippi; Seller, Bidder and Buyer each individually and collectively by virtue of participating in the Auction conducted by Taylor Auction & Realty, Inc. do hereby irrevocably agree to submit themselves and any claims to the jurisdiction and venue of the courts of Grenada County, Mississippi, and the laws of the State of Mississippi, which shall be the sole venue and jurisdiction for the resolution of any claims between them and Taylor Auction and Realty, Inc. regardless of the nature or location of the property sold/purchased or the physical location of the Auction. The successful purchaser agrees to pay any and all reasonable attorney fees and costs incurred by the Auction Company, the seller and/or their servants, agents or employees in the commencement or defense of any actions hereunder as well as in the collection of any obligations hereunder. The purchaser agrees that a fee of 2% per month be added to the balance of any unpaid balance due the Auction Company and any other costs or losses incurred by the purchaser’s failure to adhere to these terms.

HOLD HARMLESS:

Buyer and or bidder agrees that Taylor Auction and Realty, Inc. is a representative of the Seller and agrees to hold harmless and indemnify Taylor Auction & Realty, Inc. and its Agents, Owner, Directors, Employees and its Representatives from any and all claims, demands, expenses, damages which bidder/buyer may claim on account of or any way growing out of said auction and to look solely to the Seller for any remedy demanded.

BIDDER ACKNOWLEDGMENT:

Bidder acknowledges that no relationship of any nature or type, agent, employee, independent contractor or otherwise is created between bidder and auctioneer, affiliated auction companies, affiliated software companies and/or any servant, agent or employee of the same by bidder’s participation in this auction. Bidder acknowledges and agrees that Auctioneer is acting solely as the agent for the seller in this auction.

BIDDER RESPONSIBILITIES:

Bidder responsibilities include, but are not limited to: Bidders agree to keep their username and password confidential, as they are responsible for ANY and ALL activity involving their account. When using the web site you must obey any and all local, state and federal laws. Violations will result in termination of web site use privileges.

Guaranty Agreement in regard to bidding for a business entity: By submitting a bid in the name of a business entity or corporation, the individual submitting the bid enters into a guaranty agreement whereby he or she personally guarantees payment to Taylor Auction & Realty, Inc. and completion of the transaction.

Announcements from the Auction block Website will take precedence over any previously printed material or any other oral statements made. Information is subject to change.

Thank you for your interest in this auction.

Benny Taylor CAI AARE CAGA

Taylor Auction & Realty, Inc.

The Estate of O'Dell Pase Real Estate & Personal Property