Inspection Dates:

• Saturday, April 14, 10:00 AM - 2:00 PM or
• By Appointment

Directions:

• From Memphis or Nashville, take Exit 126 from I-40 onto Hwy 641 and go South. Turn at first road on Left (McIllwain Rd) and drive 1.8 miles to end of road; turn Right onto Old Hwy 69. Travel 1.2 miles to Y intersection in Sugar Tree; bear Right. Travel 1/10 mile and pass Sugar Tree Post Office; just past post office turn Left onto Hog Creek Rd (careful - limited sight for oncoming traffic). Travel 4.7 miles, passing Ponderosa Marina. Bear Left on Cotham Town Lane. Continue 2 miles on Cotham Town Lane to main gate of River Breeze Estates. Watch for Riverbreeze directional signs.
  

• 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.
• 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.
• 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.
• 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.
• 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.
• Soft Close Groups
  Items in this auction have been placed in soft close groups. The above notwithstanding, if a bid is placed in the last 5 minutes remaining for any item in the soft close group, bidding for all items in the soft close group will remain open for an additional 5 minutes.
• 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.
• Escrow Agent / Closing Attorney
  The purchase monies in respect of the property shall be paid to and deposited with J. Gilbert Parrish, Jr., Attorney at Law, 60 Brazelton St., Unit 9, Savannah, TN 38372.
• No New Survey
  The Property shall be conveyed to the Purchaser according to the existing legal description.
• Deed
  Seller shall provide a warranty deed.
• 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.
• 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.
• Real Estate Taxes
  Real estate taxes and assessments shall be pro-rated to the date of Closing.
• Closing Costs
  The Owner shall pay the following closing costs:
  • Title commitment fee;
  • Costs to prepare the deed;
  • 50% of the closing agent’s cost to close the sale; and
  • Any legal counsel retained by Owner in connection with the conveyance of the Property.
  The Purchaser shall pay the following costs:
  • The cost of the standard owner’s ALTA title policy, if Purchaser chooses to have a title policy issued;
  • Any special endorsements to the title policy;
  • Any costs associated with title insurance issued in favor of Purchaser’s lenders, if any;
  • All costs arising from or relating to any loan sought by Purchaser to finance the conveyance;
  • All recording costs, transfer taxes and mortgage taxes arising from the deed, deed of trust and any other financing documents required by Purchaser’s lenders, if any;
  • 50% of the closing agent’s cost to close the sale; and
  • Any legal counsel retained by Purchaser in connection with the conveyance of the Property.
• Cash Sale
  This is a cash sale and is not contingent on Purchaser's ability to obtain financing.
• Possession
  The Purchaser will receive possession at closing, subject to the rights of parties in possession and existing leases, if any.
• 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.
• Personal Property
  No personal property shall be conveyed to the Purchaser at Closing.
• 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.
• 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.
• 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.
• 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.
• 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.
• Age Requirement
  All bidders must be 18 years of age or older.
• 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.
• Seller
  Beck's Branch, Inc. (Lot 30) and Glenn Rutherford and Ben Bayless (Lots 12 and 22)