Inspection: By appointment. Please call or text the auction manager to schedule an appointment.

Payment: The Purchaser shall pay an amount equal to 15% of the total contract sales price to the Closing Attorney by 4:00 PM CT on January 18, 2018. The Closing Attorney shall accept the following forms of payment: wire transfer or cashier's check. There may be a fee associated with payment of the deposit or purchase money by wire transfer. Contact the Closing Attorney if you intend to pay this way.

Bid Deposit / Authorization: A $50.00 credit card authorization will be processed when submitting your first bid at this auction. This authorization is not actually charged to your card. If you are the winning bidder any payment you make for your purchases will be a completely separate transaction. If you are not the high bidder, there will be no charges against your account.

Debit Card Warning: We require bidders to secure their accounts with a credit or debit card. Some of our auctions further require a deposit. If you use a credit card to secure your account, the auction deposit will take the form of a credit card authorization and will count against your credit limit for the duration of the authorization (up to 10 business days). If you use a debit card to secure your account, the auction deposit will take the form of a hold on funds in your bank account for the duration of the authorization. McLemore Auction Company, LLC highly recommends you secure your account with a credit card and is not responsible for any issues arising from the use of a debit card to secure your bidding account. Add a debit card at your own risk.

1. Agreement of Purchase and Sale
   Immediately following the close of the bidding, the high bidder will be required to enter into a Purchase and Sale Agreement.
2. Buyer's Premium
   A 10% buyer's premium will be added to the high bid price to determine the total contract sales price for the Property.
3. Reserve Auction Conditions
   Unless otherwise indicated, all lots in this auction are offered subject to a reserve, which is the confidential minimum price below which such lot will not be sold. Reserves are agreed upon between the Owner and Auctioneer. The Auctioneer reserves the right to bid as agent for the Owner up to the amount of the reserve by placing successive or consecutive bids for a lot or by placing bids in response to other bidders.
4. Auction Ending
   Beginning at the stated closing time, the auction software will conclude bidding for 5 lots each minute in catalog order with the following exception: if a bid is placed in the last 5 minutes remaining for that auction lot, bidding for that lot will remain open for an additional 5 minutes.
5. Payment and Closing
   The Purchaser shall pay an amount equal to 15% of the total contract sales price to the Escrow Agent / Closing Attorney by 4:00 PM CT on the first business day following the conclusion of the auction. The Escrow Agent / Closing Attorney will only accept payment by wire transfer or cashier's check. The Purchaser shall pay the remainder of the total contract sales price at the real estate closing. Closing shall take place within 30 days of the conclusion of the auction or within 15 days of the presentation of the applicable closing documents to the Purchaser, whichever is later. The Escrow Agent / Closing Attorney will schedule and conduct closing.
6. Escrow Agent / Closing Attorney
   The purchase monies in respect of the property shall be paid to and deposited with Mid-State Title & Escrow, Yvette Meldrum, Contact, (615) 790-3156, yvette@midstatetn.com.
7. No New Survey
   The Property shall be conveyed to the Purchaser according to the existing legal description.
8. Deed
   Seller shall provide a warranty deed.
9. Evidence of Title
   Auctioneer shall post a preliminary title commitment on its website before the conclusion of the auction. Seller agrees to provide merchantable title to the Property subject to matters of record, general conditions of title and similar or related matters identified in the preliminary title commitment.
10. Title Insurance
    The Purchaser may obtain an owner's title insurance policy in the amount of the purchase price from the Escrow Agent / Closing Attorney at the Purchaser's cost.
11. Real Estate Taxes
    Real estate taxes and assessments shall be pro-rated to the date of Closing.
12. Closing Costs
    The Purchaser shall pay a closing fee to the Escrow Agent / Closing Attorney. In addition, the Purchaser shall pay for any and all recording fees, transfer taxes, courier fees, wire transfer fees and all other sale, financing or closing fees as required. Please refer to the Property Information Package for estimated closing costs.
13. Cash Sale
    This is a cash sale and is not contingent on Purchaser's ability to obtain financing.
14. Possession
    The Purchaser will receive possession at closing, subject to the rights of parties in possession and existing leases, if any.
15. As-Is Sale
    The Purchaser shall accept the property in an as-is condition with all faults as of the closing date and the Purchaser shall specifically agree that the Seller has not and does not make any representations or warranties of any kind whatsoever, expressed or implied, to the purchaser regarding the property or any improvements thereon. The property is selling subject to anything an accurate survey or personal inspection of the property may reveal, including any existing rights-of-way, easements or claims to easements, encroachments, rights or claims of parties in possession, restrictive covenants and easements, flood zones, zoning or subdivision regulations, building codes, governmental agencies regulations, environmental conditions, lead-based paint, asbestos, radon gas, hazardous materials, any mineral rights, water rights, riparian or littoral rights, and reservations or conveyances, if any. The purchaser shall have satisfied himself as to the location and condition of the property, and all descriptions thereof, before bidding. All information contained in the brochure and all promotional materials, including, but not limited to, square footages, acreage, dimensions, maps, taxes, etc., was provided by the Seller and is believed to be correct; however, neither the Seller nor the Auctioneer makes any guarantee or warranty as to the accuracy or completeness of such information.
16. Personal Property
    No personal property shall be conveyed to the Purchaser at Closing.
17. Lead Based Paint Disclosure:
    Bidders agree that they have had the benefit of a 10-day period to inspect the subject premises for lead-based paint or lead-based paint hazards. Bidders further agree that this 10-day period began with the first appearance of advertising promoting the property for sale at auction. If such inspection has not taken place within the aforementioned 10-day period, the Purchaser agrees to waive the right to perform any further such inspections or tests before closing the transaction, and will agree to accept the property in "as is" condition at time of signing the purchase contract.
18. Agency Disclosure
    McLemore Auction Company, LLC and its representatives are exclusive agents of the Seller and are agents of no other party to this transaction.
19. Miscellaneous
    All decisions of the Auctioneer are final as to the methods of bidding, disputes among bidders, increments of bidding and any other matters that may arise before, during, or after the auction. Seller reserves the right to deny any person the right to participate in the auction or to ban anyone from the auction who attempts to disrupt it.
20. Equal Opportunity Clause
    All bidding is open to the public. The Property is available to qualified purchasers without regard to a prospective Purchaser's race, color, religion, sex, familial status, national origin, or physical handicap.
21. Debt Collection and Interest Charge
    The bidder agrees to pay all reasonable attorney fees and other costs incurred by McLemore Auction Company, LLC in its efforts to collect unpaid funds from the bidder. The bidder agrees that a fee of 2% of the outstanding balance per month be added to any unpaid balance due McLemore Auction Company, LLC. Any debt collection or dispute proceedings will be heard in Davidson County, Tennessee.
22. Guaranty Agreement
    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 of any bid amount not paid when due by the business entity or corporation, for any reason, together with all collection expenses incurred to enforce collection, including a reasonable attorney's fee.
23. Age Requirement
    All bidders must be 18 years of age or older.
24. Bidder Information and Security
    All registration information the bidder provides to McLemore Auction Company, LLC shall be current, complete, and accurate. All bidders are responsible for any bids placed under their bidding numbers and passwords. Bidders must notify McLemore Auction Company, LLC if they believe that their bidder number and password have been compromised.
25. Seller
    MWC, LLC