Terms

U.S. Bankruptcy Courts Auction

REAL ESTATE
AUCTION

These announcements supersede any prior oral or printed
statements and will be attached to and become a part of the
contract.

Winning bidder must sign a non contingent contract and pay
earnest money within 24 hours of auctions end.

All properties are sold
by the lot or tract, not by the acre. Acreage amounts are not guaranteed by the
auctioneer or the trustee and was obtained from the Winston County, Alabama tax
records.

The property will be sold by legal description and
transferred by trustees deed.

Properties sell subject to courts
approval.

The terms are 10% down payment with the balance due within
30 days.

Purchaser to receive possession of the property upon
delivery of deed at closing.

Purchaser to pay closing cost and title
insurance. Seller guarantees

title to be free and clear.

Closing
attorneys: Rosen Harwood, Tuscaloosa, Alabama.

Ad Valorem taxes will
be prorated at closing.

PROPERTY SOLD SUBJECT TO THE FOLLOWING: All
outstanding easements of any kind on said property, including but not limited to,
roads, right of ways, utilities, water lines, and the like; any mineral, oil and past
conveyances, leases or reservations; to any cemeteries that might exist on the
property, outstanding leases recorded or unrecorded; zoning ordinances affecting the
property; restrictions of record; wet lands; all rules and regulations of any
appropriated authority having jurisdiction over the property, and any recorded
encroachments of record.

BUYERS NOTE: Prior to the auction all
prospective purchases should examine the property and all surrounding documents
carefully as each bidder is responsible for evaluating the property and shall not
rely on the sellers nor the auctioneers. Sellers and Auctioneers are assuming that
the bidders have inspected the property and are satisfied and accept it
Â“As

IsÂ” without warranties expressed or implied. Personal on-site inspection
of the property is recommended. Failure of any bidder to inspect or to be fully
informed as to the condition of all or any portion of the property offered, will not
constitute any grounds for any claim or demand for adjustment or withdrawal of a bid,
offer or earnest money after its opening

or tender.

All
information was obtained from sources deemed reliable. Although every precaution has
been taken to insure accuracy, the sellers and all of their agents will not be
responsible for any errors or omissions herein.

Default by the Seller:
If the Sellers are unable to make conveyance and to give title as herein agreed, the
earnest money shall be refunded to the buyer and all obligations of either party
shall wholly cease.

Default by the Buyer: Should the Buyer default in
the performance of his/her contract in the time and the manner specified, then the
earnest money shall be retained as partial liquidated damages and the seller may sue
for specific performance.

AGENCY DISCLOSURE: Larry Â“ChipÂ” Pearce Jr.
has not been an agent for the Buyer in this

transaction. Larry Â“ChipÂ” Pearce
Jr. has been an agent for the Seller in this

transaction and is to be paid a
commission by the Seller.

The Auctioneer reserves the right to reject
bids from anyone who does not comply

with the terms and conditions of this
auction.

Bidding: Bidding info- When you bid your max the current bid
price doesn't 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.

This auction has what is called an auto
extend feature, meaning the auction will not close until all bidding parties are
satisfied. If any bids are placed within the last 5 minutes of the auction, the bid
on lot(s) will extend for 5 minutes. The bidding will extend in 5 minute increments
from the time the last bid is placed until there are no more bids, and the lot sits
idle for 5 minutes.

2 Lots in Walton County Florida