PROCEDURE: Tracts 1 through 4 will be offered in individual tracts, in any combination of these 4 tracts, or as a total unit. There will be open bidding on all tracts and combinations during the auction as determined by the Auctioneer. Bids on tracts, tract combinations and the total property may compete. The high bid(s) will be that bid or combination of bids representing the highest total for all tracts. The high bidder(s) will be required to enter into a purchase agreement at the auction site immediately following the close of bidding. Seller reserves the right to accept or reject any or all of the high bid(s).

BUYERS PREMIUM: The contract purchase price will include a Buyers Premium equal to 4% of the bid amount.

DOWN PAYMENT: 10% of the total contract purchase price will be due as a down payment on the day of auction, with the balance due in cash at closing. The down payment may be made in the form of cashiers check, personal check, or corporate check. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING, SO BE SURE YOU HAVE ARRANGED FINANCING, IF NEEDED, AND ARE CAPABLE OF PAYING CASH AT CLOSING.

EVIDENCE OF TITLE: A minerals title search will be available for review prior to the auction. With respect to the surface rights, preliminary title insurance schedules (or other evidence of title) will be available for review prior to the auction, but the Buyer will be responsible for the cost of issuing any title insurance. The property will be conveyed using existing legal descriptions without a new survey unless otherwise provided in the purchase contract. All title evidence provided with respect to surface rights and/or mineral rights is subject to verification by prospective bidders who are responsible for completing all due diligence, including all title investigations, searches and reviews, prior to bidding.

DELIVERY OF TITLE: Seller will furnish at closing a Mineral Deed with respect to the mineral rights and a Special Warranty Deed with respect to the surface rights, subject to any permitted exceptions described in the purchase contract.

CLOSING: The closing will be held on or before July 3, 2014 (or as soon as possible, after said date, upon completion of Sellers closing documents).

POSSESSION: Possession shall be delivered at closing.

TAXES: Real estate taxes shall be prorated to the date of closing.

ACREAGE AND TRACTS: All acreages and tract maps are approximate and have been estimated based on county parcel information, current legal descriptions and/or aerial photos.

AGENCY: Schrader Real Estate and Auction Company, Inc. and their representatives are exclusively the agents of the Seller.

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. OFFICIAL ANNOUNCEMENTS MADE FROM THE AUCTION PODIUM ON THE DAY OF THE SALE TAKE PRECEDENCE OVER ANY OTHER ORAL STATEMENTS AND/OR MARKETING MATERIALS.

CHANGES: Please arrive prior to scheduled auction time to inspect any changes or additions to the property information.

Information Booklet

Auction Brochure

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