Terms & Conditions

ALL AUCTIONS WILL BE CONDUCTED BY LANDSOURCE AUCTION, LLC (“AUCTIONEER”), AS USED IN THESE TERMS AND CONDITIONS SHALL INCLUDE BUT NOT BE LIMITED TO ANY AND ALL OF ITS AGENTS, EMPLOYEES, REPRESENTATIVES, OFFICERS AND DIRECTORS.  THESE TERMS AND CONDITIONS GENERALLY DESCRIBE THE AUCTION OF REAL PROPERTIES (INDIVIDUALLY, A “PROPERTY” AND COLLECTIVELY, THE “PROPERTIES”) OWNED BY ONE OR MORE SELLING ENTITIES (“SELLER” HEREIN SHALL INCLUDE THE SELLING ENTITY AND ITS PARENT COMPANY, SUBSIDIARIES, OR AFFILIATED COMPANIES).  THE SELLERS OF THE PROPERTIES LISTED HAVE INSTRUCTED AUCTIONEER TO AUCTION THE LISTED PROPERTIES ON THE TERMS AND CONDITIONS SET FORTH BELOW.  TERMS AND CONDITIONS MAY VARY AMONG THE PROPERTIES IN EACH AUCTION, SO PLEASE REVIEW THE TERMS AND CONDITIONS FOR EACH AUCTION CAREFULLY. PROSPECTIVE PURCHASERS WHO REGISTER IN ACCORDANCE WITH THE INSTRUCTIONS BELOW WILL BE DEEMED “BIDDERS” DURING THE AUCTION.  WINNING BIDDERS (EACH A “WINNING BIDDER”) WILL BE REQUIRED TO, EXECUTE A PURCHASE AGREEMENT IN A FORM AND WITH TERMS AND PROVISIONS REQUIRED BY THE SELLER (THE “PURCHASE AGREEMENT”), WHICH PURCHASE AGREEMENT WILL INCORPORATE MANY OF THESE TERMS AND CONDITIONS.  THE PURCHASE AGREEMENT IS POSTED IN THE INDIVIDUAL PROPERTY DOCUMENTS AND IS NOT NEGOTIABLE.

REGISTRATION IS REQUIRED IN ORDER TO VIEW THE PROPERTY INFORMATION AND TO BID ONLINE DURING THE AUCTION. THERE IS NO FEE TO REGISTER.  IN ORDER TO REGISTER, PLEASE TO WWW.LANDSOURCEAUCTION.COM, CLICK ON THE “LOGIN/REGISTER” TAB AT THE TOP RIGHT AND FOLLOW THE INSTRUCTIONS.  IN ORDER TO BID ON THE AUCTION, YOU WILL BE REQUIRED, ON A PER PROPERTY BASIS, TO ENTER A VALID CREDIT CARD NUMBER.  THERE WILL BE NO CHARGE APPLIED TO YOUR CARD UNLESS YOU ARE THE WINNING BIDDER.  IN SUCH CASE, A NONREFUNDABLE “INTERNET SERVICE CHARGE” WILL BE PLACED ON YOUR CARD.  THE AMOUNT OF THE INTERNET SERVICE CHARGE WILL VARY BY PROPERTY AND WILL BE CLEARLY SET FORTH IN THE INDIVIDUAL PROPERTY TERMS AND CONDITIONS.  FOLLOWING REGISTRATION APPROVAL, PRIVATE INVESTOR BIDDERS MAY BE REQUIRED TO PROVIDE, UPON REQUEST, ADDITIONAL PROOF OF READILY AVAILABLE FUNDS AND/OR AND ADDITIONAL INITIAL BIDDING DEPOSIT AMOUNT TO BID OR CONTINUE BIDDING.  IN THE EVENT THE AUCTION HAS BEGUN, THEN AUCTIONEER MAY SUSPEND, IN ITS SOLE DISCRETION, ANY FURTHER BIDDING BY BIDDER UNTIL ADDITIONAL PROOF OF FUNDS AND/OR AN ADDITIONAL INITIAL BIDDING DEPOSIT AMOUNT IS CONFIRMED BY AUCTIONEER.  PLEASE ENSURE YOU REGISTER AS A BIDDER IN THE NAME OF THE PERSON OR THE ENTITY THAT WILL BE THE BUYER IN THE EVENT YOUR BID IS THE WINNING BID.  ONLY THE NAME OF THE REGISTERED BIDDER WHO HAS RECEIVED FINAL REGISTRATION APPROVAL WILL BE PERMITTED ON THE PURCHASE DOCUMENTATION. IF YOU ARE REGISTERING TO BID AS ANYTHING OTHER THAN A NATURAL PERSON, YOU WILL BE REQUIRED TO PROVIDE THE NECESSARY LEGAL DOCUMENTATION EVIDENCING GOOD STANDING AS AN ENTITY, WHICH DOCUMENTATION MAY INCLUDE THE ARTICLES OF INCORPORATION OR ORGANIZATION, A CERTIFICATE OF GOOD STANDING ISSUED WITHIN FORTY-FIVE (45) DAYS, BYLAWS, RESOLUTIONS, OPERATING AGREEMENT, PARTNERSHIP AGREEMENT, TRUST DOCUMENT OR OTHER LEGAL DOCUMENTATION EVIDENCING THE LEGAL EXISTENCE OF THE BIDDER AS MY BE REQUESTED BY THE AUCTIONEER.   PLEASE FOLLOW THE INSTRUCTION ON THE WEBSITE CAREFULLY TO MAKE SURE YOU OBTAIN FINAL REGISTRATION APPROVAL; WHICH APPROVAL CONFIRMATION WILL BE SENT BY EMAIL TO YOU AND WILL ALLOW YOU TO BID ONLINE DURING THE AUCTION.  WE HIGHLY RECOMMEND REGISTERING WELL IN ADVANCE OF THE AUCTION TO ENHANCE YOUR CHANCES OF BEING NOTIFIED OF ANY CHANGES THAT MAY TAKE PLACE PRIOR TO AUCTION DAY.  INDIVIDUALS FROM OUTSIDE THE UNITED STATES MAY REGISTER TO BID ONLINE. 

ADDITIONAL TERMS & CONDITIONS APPLY. PLEASE READ THE FOLLOWING IN ITS ENTIRETY:

-REFRESH BIDDING: REFRESH YOUR SCREEN CONSTANTLY DURING THE CLOSING MINUTES OF THE BIDDING.  THE SYSTEM WILL AUTOMATICALLY UPDATE BUT YOU SHOULD REFRESH TO ENSURE YOU ARE SEEING THE LATEST RESULTS.

-BIDDING INCREMENTS: EACH LANDSOURCE AUCTION MAY HAVE DIFFERENT BIDDING INCREMENTS. THE WEBSITE WILL AUTOMATICALLY CALCULATE THE NEXT MINIMUM BID AMOUNT FOR YOU.

-TIME INCREASE OR DECREASE: LANDSOURCE MAY INCREASE OR DECREASE THE EXTENDED TIME AMOUNT AT ANY TIME DURING THE AUCTION UNTIL THE CLOSE OF BIDDING.

-OUTBID NOTIFICATION: UNTIL THE AUCTION BEGINS TO CLOSE, 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. DUE TO VARYING INTERNET CONNECTIONS/SPEED, PLEASE CONSTANTLY MONITOR THE AUCTION AT CLOSE OF BIDDING. SOMETIMES EMAIL NOTIFICATIONS CAN BE DELAYED.

CONTRACT FOR SALE OF REAL ESTATE: THE CONTRACT IS REQUIRED TO BE FULLY AND CORRECTLY COMPLETED, WITHOUT ANY MODIFICATIONS AND PROPERLY SIGNED WITHIN 24 HOURS OF AUCTION CLOSING BETWEEN 8AM- 5PM THE NEXT BUSINESS DAY.

-SERVER & SOFTWARE TECHNICAL ISSUES: IN THE EVENT THAT THERE ARE TECHNICAL DIFFICULTIES RELATED TO THE SERVER, SOFTWARE OR ANY OTHER ONLINE AUCTION-RELATED TECHNOLOGIES, LANDSOURCE RESERVES THE RIGHT TO EXTEND BIDDING, CONTINUE THE BIDDING, OR CLOSE THE BIDDING. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR LANDSOURCE SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. EMAIL NOTIFICATIONS MAY BE SENT TO REGISTERED BIDDERS WITH UPDATED                                   INFORMATION AS DEEMED NECESSARY BY LANDSOURCE.

BIDDING AND WINNING. THE BIDDER AUTHORIZATION AND LOG-IN INFORMATION GIVEN TO YOU UPON SUCCESSFULLY REGISTERING TO BID ONLINE SHALL BE USED BY YOU DURING THE AUCTION TO BID ON PROPERTIES.   TO PURCHASE A PARTICULAR PROPERTY AT THE AUCTION, ONE MUST BE ACKNOWLEDGED BY THE AUCTIONEER AS THE WINNING BIDDER (THE BIDDER TO WHOM THE AUCTIONEER ACKNOWLEDGES THE PROPERTY AS BEING "SOLD" TO), AND SUCH PROPERTY IS NOT IDENTIFIED AS BEING SOLD "SUBJECT TO CONFIRMATION" (SEE BELOW). IF YOU ARE THE WINNING BIDDER, YOU WILL BE CONTACTED BY PHONE BY AN AUCTIONEER REPRESENTATIVE AT THE PHONE NUMBER YOU PROVIDED. ONCE CONTACTED BY AN AUCTIONEER REPRESENTATIVE, THE WINNING BIDDER WILL BE SENT, BY E-MAIL, THE PURCHASE AGREEMENT AND CERTAIN

OTHER DOCUMENTS FOR ELECTRONIC SIGNATURE, UNLESS OTHERWISE DIRECTED BY SELLER. THE PURCHASE AGREEMENT WILL CONTAIN THE EXACT TERMS AND CONDITIONS OF THE SALE. AS BETWEEN WINNING BIDDER AND SELLER, THE PURCHASE AGREEMENT SUPERSEDES ANY AND

ALL OTHER DOCUMENTS OR INFORMATION (INCLUDING WITHOUT LIMITATION THESE TERMS AND CONDITIONS) AND SERVES AS THE GOVERNING DOCUMENT FOR THE SALE OF EACH PROPERTY. AFTER EXECUTING THE PURCHASE AGREEMENT ELECTRONICALLY, WHICH SHALL BE EXECUTED WITHIN THIRTY (30)   MINUTES   OF AUCTIONEER’S ACKNOWLEDGMENT OF THE WINNING BID, WINNING BIDDER WILL BE CONTACTED BY

AUCTIONEER, AN ESCROW/CLOSING AGENT OR SETTLEMENT ATTORNEY, WHO WILL PROVIDE THEM CERTAIN ADDITIONAL INFORMATION PERTAINING TO THE CLOSING PROCESS.

IF A WINNING BIDDER CANNOT BE REACHED WITHIN TWO (2) HOURS OF AUCTIONEER'S ACKNOWLEDGMENT OF THE WINNING BID, OR WINNING BIDDER FAILS TO ELECTRONICALLY EXECUTE THE PURCHASE AGREEMENT WITHIN TWO (2) HOURS OF AUCTIONEER'S ACKNOWLEDGMENT OF THE WINNING BID, THEN AUCTIONEER OR SELLER CAN DECLARE THE WINNING BIDDER TO BE IN DEFAULT.  IN THE EVENT OF SUCH DECLARATION, THE

WINNING BIDDER'S BID SHALL BE NULL AND VOID AND THE AUCTIONEER AND SELLER SHALL HAVE ABSOLUTELY NO FURTHER LIABILITY OR OBLIGATION TO THAT BIDDER. IN ADDITION, SUCH WINNING BIDDER SHALL BE SUBJECT TO LIQUIDATED DAMAGES EQUAL TO TEN PERCENT (10%) OF THE PURCHASE PRICE AND AUCTIONEER AND SELLER RESERVE THE RIGHT TO SEEK ANY AND ALL

OTHER REMEDIES, INCLUDING SPECIFIC PERFORMANCE. ADDITIONALLY, SELLER SHALL HAVE THE RIGHT TO RETAIN THE INITIAL BIDDING DEPOSIT AS PART OF THE LIQUIDATED DAMAGES. FURTHERMORE, AUCTIONEER AND SELLER RESERVE THE RIGHT TO IMMEDIATELY PUT THE PROPERTY BACK UP FOR SALE OR NEGOTIATE A CONTRACT WITH THE SECOND HIGHEST BIDDER.

RESERVE AUCTION. SOME AUCTIONS ARE RESERVE AUCTIONS THAT HAVE A RESERVE PRICE ("RESERVE PRICE"), MEANING THE SELLER OF EACH PROPERTY CAN ACCEPT OR REJECT ANY BID AND HAS ALSO ESTABLISHED AN UNPUBLISHED, MINIMUM SELLING PRICE.  THE STARTING BID IS NOT THE RESERVE PRICE. IN ORDER TO BECOME THE WINNING BIDDER FOR A PROPERTY, A BIDDER MUST MEET OR EXCEED THE RESERVE PRICE AND THE BID MUST BE ACCEPTED BY THE SELLER (SEE "SUBJECT TO CONFIRMATION" SECTION BELOW). EXCEPT WHERE PROHIBITED BY LAW, DURING A LIVE BIDDING EVENT (ONLINE OR OTHERWISE) THE AUCTIONEER MAY OPEN BIDDING ON ANY PROPERTY BY PLACING A BID ON BEHALF OF THE SELLER AND MAY FURTHER BID ON BEHALF OF THE SELLER, UP TO THE AMOUNT OF THE RESERVE PRICE, BY PLACING SUCCESSIVE OR CONSECUTIVE BIDS FOR A PROPERTY, OR BY PLACING BIDS IN RESPONSE TO OTHER BIDDERS. IF NO BIDDERS MEET THE RESERVE PRICE, THE SELLER IS UNDER NO OBLIGATION TO SELL THE PROPERTY.  THE SELLER MAY WITHDRAW A PROPERTY AT ANY TIME PRIOR TO THE ANNOUNCEMENT OF THE COMPLETION OF THE SALE BY THE AUCTIONEER. AUCTIONEER IS NOT ACTING AS AN AGENT FOR ANY BIDDER IN ANY CAPACITY AND IS ACTING EXCLUSIVELY AS THE SELLER'S AGENT.

SUBJECT TO CONFIRMATION. IN THE EVENT THE WINNING BID AMOUNT IS NOT IMMEDIATELY ACCEPTED BY THE SELLER, THE AUCTIONEER WILL INFORM THE WINNING BIDDER THAT ACCEPTANCE OF THEIR WINNING BID IS "SUBJECT TO CONFIRMATION." WINNING BIDDER ACKNOWLEDGES AND AGREES THAT WINNING BIDDER'S PURCHASE IS SUBJECT TO, AND CONTINGENT UPON, THE SELLER APPROVING THE PURCHASE, WHICH SHALL BE GIVEN OR DENIED AT THEIR SOLE AND ABSOLUTE DISCRETION WITHIN FIFTEEN (15) BUSINESS DAYS FOLLOWING THE CLOSE OF THE AUCTION AND EXECUTION OF THE PURCHASE AGREEMENT BY WINNING BIDDER, OR AS MAY OTHERWISE BE SET FORTH IN THE PURCHASE AGREEMENT. WINNING BIDDER WILL RECEIVE A REFUND OF MONIES DEPOSITED IN THE EVENT SELLER CHOOSES NOT TO ACCEPT THE BID.

IN ORDER TO ALLOW FINAL BIDS TO BE PROPERLY INPUT AND PROCESSED, THE AUCTIONEER MAY EXTEND THE CLOSE OF BIDDING FOR ANY PROPERTY IN CERTAIN TIME INCREMENTS TO ALLOW FOR ADDITIONAL BIDS. ONCE AN EXTENSION OF TIME HAS ELAPSED WITH NO ADDITIONAL HIGHER BIDS, THEN THE BIDDING WILL BE CLOSED.

Text HereGENERAL AUCTION INFORMATION

SELLERS AND AUCTIONEER RESERVE THE RIGHT TO DENY ANY PERSON THE ABILITY TO BID AND/OR ACCESS TO THE ONLINE BIDDING PLATFORM FOR ANY REASON. SELLER AND AUCTIONEER HAVE THE RIGHT TO POSTPONE OR CANCEL THE AUCTION, TO WITHDRAW ANY PROPERTY FROM THE AUCTION AND TO CHANGE ANY TERMS OF THE AUCTION OR PARTICULAR CONDITIONS OF SALE UPON ANNOUNCEMENT PRIOR TO OR DURING THE COURSE OF THE AUCTION. IN THE EVENT OF A DISPUTE AMONG BIDDERS, THE AUCTIONEER SHALL MAKE THE SOLE AND FINAL DECISION TO EITHER ACCEPT THE FINAL BID OR TO RE-OFFER AND RESELL THE PROPERTY IN DISPUTE.

THE RESPECTIVE RIGHTS AND OBLIGATIONS OF THE PARTIES WITH RESPECT TO THESE AUCTION TERMS AND CONDITIONS AND THE CONDUCT OF THE AUCTION SHALL BE GOVERNED BY, INTERPRETED AND ENFORCED UNDER THE LAWS OF THE STATE OF MISSOURI.  BY BIDDING IN THE AUCTION BY THE INTERNET, EACH BIDDER SHALL BE DEEMED TO HAVE IRREVOCABLY SUBMITTED TO THE COURTS OF COMPETENT JURISDICTION IN COLE COUNTY, MISSOURI (INCLUDING THE FEDERAL COURTS) IN CONNECTION WITH ANY SUIT, PROCEEDING OR OTHER LEGAL PROCESS RELATING TO THE AUCTION AND/OR THE OFFERING OR SALE OF ANY PROPERTY. UPON EXECUTION OF THE PURCHASE AGREEMENT, ALL RIGHTS AND REMEDIES WITH RESPECT TO THE PROPERTY COVERED BY SUCH PURCHASE AGREEMENT SHALL BE GOVERNED BY SUCH PURCHASE AGREEMENT.

OFFERS MADE DURING THE AUCTION ARE VOID WHERE PROHIBITED BY LAW. ANY INFORMATION ON ANY WEBSITE, IN ANY BROCHURE, E-MAIL OR POSTCARD AND ANY AND ALL INFORMATION AVAILABLE REGARDING THE PROPERTIES SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF ANY OFFER TO BUY ANY OF THE PROPERTIES REFERENCED HEREIN. IN ADDITION, AND WITHOUT LIMITATION OF THE FOREGOING, ANY WEBSITE OR BROCHURE SHALL NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF ANY OFFER TO BUY NOR SHALL THERE BE ANY SALES OF ANY OF THE PROPERTIES IN ANY STATE IN WHICH SUCH OFFER, SOLICITATION, OR SALE WOULD BE UNLAWFUL PRIOR TO THE REGISTRATION OR QUALIFICATION UNDER THE APPLICABLE SECURITIES LAWS OF THAT STATE. NO OBLIGATION TO SELL SHALL BE BINDING ON SELLER UNLESS AND UNTIL A WRITTEN CONTRACT OF SALE OR PURCHASE AGREEMENT IS SIGNED AND DELIVERED BY SELLER. SELLER RESERVES THE RIGHT TO RESCIND ANY ORAL ACCEPTANCE OF A WINNING BID PRIOR TO THE EXECUTION AND DELIVERY OF AN EXECUTED CONTRACT OF SALE OR PURCHASE AGREEMENT FOR ANY REASON.

AUCTIONEER'S DISCRETION: LANDSOURCE HAS FULL DISCRETION TO MODIFY THE DATE AND TIME, ORDER, AND DETAILS OF THE AUCTION FOR ANY REASON OR NO REASON AT ALL, INCLUDING BUT NOT LIMITED TO TECHNICAL ISSUES, EMERGENCIES, AND CONVENIENCE OF LANDSOURCE OR THE SELLER. LANDSOURCE RESERVES THE RIGHT TO MODIFY, CHANGE, OR REMOVE USERNAMES AT ANY TIME.

AUCTION ENDING: LANDSOURCE AUCTIONS ARE TIMED EVENTS AND ALL BIDDING WILL CLOSE AT A SPECIFIED TIME. LANDSOURCE ALSO HAS AN AUTO-EXTEND FEATURE. ANY BID PLACED IN THE FINAL FIVE (5) MINUTES OF AN AUCTION, THE AUCTION ENDING WILL BE AUTOMATICALLY EXTENDED FIVE (5) MINUTES FROM THE TIME THE BID WAS PLACED. EXAMPLE: IF AN AUCTION IS SCHEDULED TO CLOSE AT 6:00 RECEIVES A BID AT 5:59, THE CLOSE TIME WILL AUTOMATICALLY EXTEND 6:04. THE AUTO EXTEND FEATURE REMAINS ACTIVE UNTIL NO FURTHER BIDS ARE RECEIVED WITHIN A FIVE (5) MINUTE TIME FRAME. LANDSOURCE RESERVES THE RIGHT TO ADJUST THESE TIMES AS NECESSARY.  THESE TIMES ARE SET AND VARY FOR EACH PROPERTY.  PLEASE REVIEW THE INDIVIDUAL PROPERTY TERMS AND CONDITIONS. 

AUCTION CANCELLATION - BID REJECTION: LANDSOURCE RESERVES THE RIGHT TO REJECT ANY AND ALL BIDS FOR ANY REASON. LANDSOURCE RESERVES THE RIGHT TO CANCEL THIS AUCTION OR REMOVE ANY ITEM OR LOT FROM THIS AUCTION PRIOR TO THE CLOSE OF BIDDING EVEN IF A BID HAS BEEN PLACED.

CLOSING - PROPERTY IS TO BE CLOSED WITHIN 30 DAYS AFTER THE AUCTION, OR AS OTHERWISE SPECIFIED IN THE PURCHASE AGREEMENT.  NO EXTENSIONS WILL BE GRANTED. 

CLOSING COSTS: SELLER AND BUYER SHALL PAY A CLOSING FEE AND DOCUMENT PREPARATION FEE. SELLER SHALL ALSO PAY FOR ANY COSTS INCURRED BY LANDSOURCE, AS AGREED UPON IN THE AUCTION CONTRACT. SELLER SHALL PAY NO CLOSING COSTS FOR BUYER, INCLUDING ANY LENDER'S FEES OR RECORDING FEES UNLESS OTHERWISE AGREED TO IN THE PURCHASE AGREEMENT.

PAYING FOR YOUR PURCHASE: NO FINANCING WILL BE MADE AVAILABLE FOR THE AUCTION.  ALL PURCHASES WILL BE CASH ONLY.  NO FINANCING CONTINGENCIES SHALL BE APPLICABLE TO ANY PROPERTIES. AUCTIONEER DOES NOT PROVIDE ANY LENDING OR FINANCIAL SERVICES.

DISCLAIMER

NEITHER SELLER, BROKER NOR AUCTIONEER MAKES ANY REPRESENTATIONS OR WARRANTIES AS TO THE ACCURACY OR COMPLETENESS OF ANY INFORMATION CONTAINED ONLINE AT THE AUCTION WEBSITE OR MADE AVAILABLE BY THE SELLER, BROKER OR AUCTIONEER. ALL PROSPECTIVE PURCHASERS ARE REQUIRED AND ENCOURAGED TO CONDUCT THEIR OWN DUE DILIGENCE AND INVESTIGATE ALL MATTERS RELATING TO THE PROPERTIES THAT THEY ARE INTERESTED IN PURCHASING IN THE AUCTION. ONLINE BIDDING IS PROVIDED ON AN "AS IS, AS AVAILABLE" BASIS. NO WARRANTIES, EXPRESSED OR IMPLIED, INCLUDING, BUT NOT LIMITED TO, THOSE OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE, ARE MADE WITH RESPECT TO THE ONLINE BIDDING PLATFORM OR ANY INFORMATION OR SOFTWARE THEREIN.

NEITHER SELLER, BROKER NOR AUCTIONEER WILL BE LIABLE FOR ANY DAMAGES OR INJURY, INCLUDING, BUT NOT LIMITED TO, THOSE CAUSED BY ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, INTERRUPTION, DEFECT, DELAY IN OPERATION OF TRANSMISSION, COMPUTER VIRUS, OR LINE FAILURE. NEITHER SELLER, BROKER NOR AUCTIONEER WILL BE LIABLE FOR ANY DAMAGES OR INJURY, INCLUDING, BUT NOT LIMITED TO, SPECIAL OR CONSEQUENTIAL DAMAGES THAT RESULT FROM THE USE OF, OR THE INABILITY TO USE, THE WEBSITE, THE MATERIALS ON THE WEBSITE, OR THE ONLINE BIDDING PLATFORM EVEN IF THERE IS NEGLIGENCE OR AUCTIONEER OR AN AUTHORIZED AUCTIONEER REPRESENTATIVE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES, OR BOTH. THE ABOVE LIMITATION OR EXCLUSION MAY NOT APPLY TO YOU TO THE EXTENT THAT APPLICABLE LAW MAY NOT ALLOW THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. SELLER'S, BROKER'S OR AUCTIONEER'S TOTAL LIABILITY TO YOU FOR ALL LOSSES, DAMAGES, AND CAUSES OF ACTION (IN CONTRACT, TORT (INCLUDING WITHOUT LIMITATION, NEGLIGENCE), OR OTHERWISE) WILL NOT BE GREATER THAN THE AMOUNT YOU PAID TO ACCESS THIS SITE.

"AS IS, WHERE IS AND WITH ALL FAULTS". ALL OF THE PROPERTIES WILL BE SOLD BY SELLER, BROKER AND AUCTIONEER "AS IS, WHERE IS AND WITH ALL FAULTS" AS MORE PARTICULARLY DESCRIBED IN THE PURCHASE AGREEMENT. ALL PROSPECTI\/E PURCHASERS/BIDDERS ACKNOWLEDGE AND AGREE THAT SELLERS, BROKER AND AUCTIONEER HAVE NOT MADE, DO NOT MAKE: AND SPECIFICALLY NEGATE AND DISCLAIM ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANT$, A HEEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS OR IMPLIED, CONCERNING. OR WITH RESPECT TO THE PROPERTIES.   EACH PROSPECTIVE PURCHASER/BIDDER AND ANYONE CLAIMING

BY, THROUGH OR UNDER THE SAME HEREBY FULLY AND IRREVOCABLY RELEASES SELLERS, BROKER AND AUCTIONEER,

THEIR RESPECTIVE EMPLOYEES, OFFICERS, DIRECTORS, REPRESENTATIVES, ATTORNEYS, BROKERS AND AGENTS ("REPRESENTATIVES") FROM ANY AND ALL CLAIMS THAT HE/SHE/IT OR THEY MAY NOW HAVE OR HEREAFTER ACQUIRE AGAINST SELLERS, BROKERS, AUCTIONEER AND THEIR REPRESENTATIVE FOR ANY COST, LOSS, LIABILITY, DAMAGE,

EXPENSE, DEMAND, ACTION OR CAUSE OF ACTION ARISING FROM OR RELATING TO ANY ERRORS, OMISSIONS OR OTHER CONDITIONS AFFECTING THE   PROPERTIES.      THIS   RELEASE   INCLUDES   CLAIMS   OF   WHICH PROSPECTIVE

PURCHASER/BIDDER IS PRESENTLY UNAWARE OR DOES NOT PRESENTLY SUSPECT TO EXIST IN HIS/HER/ITS FAVOR WHICH    IF KNOWN BY PROSPECTIVE   PURCHASER/BIDDER WOULD   MATERIALLY AFFECT PROSPECTIVE

PURCHASER’S/BIDDER’S RELEASE OF SELLERS, BROKER AND AUCTIONEER.   EACH PROSPECTIVE PURCHASER/BIDDER

SPECIFICALLY WAIVES THE PROVISIONS OF MISSOURI CIVIL CODE SECTION 1542, AND OTHER APPLICABLE STATE STATUTE WHICH PROVIDE AS FOLLOWS:  "A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR

DOES NOT KNOW OR SUSPECT TO EXIST IN HIS OR HER FAVOR AT THE TIME OF EXECUTING THE RELEASE WHICH IF KNOWN BY HIM OR HER MUST HAVE MATERIALLY AFFECTED HIS OR HER SETTLEMENT WITH THE DEBTOR."

BY REGISTERING FOR THE AUCTION, BIDDER AGREES TO THESE TERMS AND CONDITIONS, AS MAY BE UPDATED FROM TIME TO TIME PRIOR TO THE AUCTION.· SUCH FORM OF ACCEPTANCE BY BIDDER IS BINDING AND BIDDER ACKNOWLEDGES IT SHALL BE BINDING AND ENFORCEABLE PURSUANT TO THE ELECTRONIC SIGNATURES IN GLOBAL AND NATIONAL COMMERCE ACT ("E-SIGN ACT"), TITLE 15, UNITED STATES CODE, SECTIONS 7001ET SEQ., THE' UNIFORM ELECTRONIC TRANSACTION ACT (“UETA1”) AND APPLICABLE STATE LAWS.

HOLD HARMLESS: BUYER AND OR BIDDER AGREES TO HOLD HARMLESS AND INDEMNIFY LANDSOURCE AUCTION, LLC AND ITS AGENTS, OWNERS, EMPLOYEES AND ITS REPRESENTATIVES FROM ANY AND ALL CLAIMS, DAMAGES OR SUITS INCLUDING BUT NOT LIMITED TO AWARDS, JUDGMENTS, COSTS, FEES, ETC.

DISPUTES: ANY DISPUTE BETWEEN LANDSOURCE AUCTION, LLC, ITS AGENTS OR REPRESENTATIVES AND THE BUYER(S) WILL BE TRIED IN A COURT OF JURISDICTION IN COLE COUNTY, MO. BY BIDDING ON ANY ITEM, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH. EACH PARTY HEREBY KNOWINGLY, VOLUNTARILY AND INTENTIONALLY WAIVES (TO THE EXTENT PERMITTED BY APPLICABLE LAW) ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY OF ANY DISPUTE ARISING UNDER OR RELATING TO THIS AGREEMENT AND AGREES THAT ANY SUCH DISPUTE SHALL BE TRIED BEFORE AJUDGE SITTING WITHOUT A JURY.

AUCTION BIDDER AND/OR BUYER DEFAULT: SUCCESSFUL BIDDER AND OR BUYER 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 AND OR BUYER FAILS TO SUBMIT THE SIGNED CONTRACT FOR SALE OF REAL ESTATE AND EARNEST MONEY DEPOSIT, THE WINNING BIDDER AND OR BUYER SHALL PAY TO LANDSOURCE AUCTION, LLC, AS DAMAGES, AN AMOUNT EQUAL TO THE BUYER'S PREMIUM OR COMMISSION PERCENTAGE, AS SET FORTH IN SAID CONTRACT OR PROPERTY TERMS AND CONDITIONS, AND ANY AND ALL EXPENSES INCURRED BY LANDSOURCE, FOR SAID AUCTION. SHOULD BUYER'S EARNEST MONEY CHECK BE RETURNED FOR ANY REASON WHATSOEVER, THIS SHALL CONSTITUTE AN ITEM OF DEFAULT, AND IN ADDITION TO THE REMEDIES PREVIOUSLY STATED HEREINABOVE, BUYER SHALL ALSO PAY AN ADDITIONAL PENALTY OF FIVE PERCENT (5%) OF THE EARNEST MONEY CHECK TO LANDSOURCE. BUYER SHALL ALSO PAY A REASONABLE ATTORNEY'S FEE AND COSTS INCURRED IN THE COLLECTION OF THESE MONIES OWED BY BUYER AS A RESULT OF BUYER'S DEFAULT. BUYER SHALL ALSO PAY THE SELLER ANY DAMAGES CAUSED BY SAID BREACH OF CONTRACT, INCLUDING ATTORNEY'S FEES AND COSTS. THIS SHALL NOT PRECLUDE THE SELLER FROM SUING FOR SPECIFIC PERFORMANCE OF THE CONTRACT OF SALE, IN ADDITION TO SAID DAMAGES. IT IS SPECIFICALLY UNDERSTOOD AND AGREED BY AND BETWEEN THE SELLER AND LANDSOURCE AUCTION, LLC, THAT IN THE EVENT THE BUYER SHOULD DEFAULT IN THE TERMS OF THIS CONTRACT IN ANY MANNER WHATSOEVER, THAT THE EARNEST MONEY, OR SUFFICIENT SUMS THEREFORE, SHALL BE SPLIT BETWEEN THE SELLER AND LANDSOURCE.

ANY DISPUTES WILL BE TRIED IN A COURT OF JURISDICTION IN COLE COUNTY, MO. LANDSOURCE RESERVES THE RIGHT TO SELL TO THE NEXT HIGHEST QUALIFIED BIDDER AND OR BUYER IN THE EVENT THE SUCCESSFUL HIGH BIDDER AND OR BUYER DOES NOT COMPLY WITH THE TERMS OF THE SALE. BY BIDDING ON THE PROPERTY, BUYER AGREES TO ALL TERMS AND CONDITIONS SET FORTH. THE CONTRACT IS REQUIRED TO BE FULLY AND CORRECTLY COMPLETED, WITHOUT ANY MODIFICATIONS AND PROPERLY SIGNED. A CONTRACT THAT IS INCOMPLETE, INCORRECT, OR MODIFIED IN ANY RESPECT, IS CONSIDERED TO BE IN DEFAULT.

BIDDER VERIFICATION: THE IDENTITY OF ALL BIDDERS WILL BE VERIFIED. BIDDING RIGHTS ARE PROVISIONAL, AND IF COMPLETE VERIFICATION IS NOT POSSIBLE, LANDSOURCE CAN REJECT THE REGISTRATION, AND BIDDING ACTIVITY CAN BE TERMINATED. THE SELLER AND LANDSOURCE RESERVE THE RIGHT TO PRECLUDE ANY PERSON FROM BIDDING.

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 WEBSITE, YOU MUST OBEY ANY AND ALL LOCAL STATE AND FEDERAL LAWS. VIOLATIONS WILL RESULT IN TERMINATION OF WEB SITE USE PRIVILEGES. AUCTION COMPANY EMPLOYEES AND/OR AUCTION COMPANY MAY BID ON AUCTION.

WE GATHER AGGREGATE INFORMATION FROM THE WEB SITE WHICH MAY INCLUDE BUT IS NOT LIMITED TO: NUMBER OF PAGE VISITORS, MOST VISITED PAGES, AND ANY AND ALL CORRESPONDENCE.

GUARANTEE 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 EARNEST MONEY PAYMENT TO LANDSOURCE.

DUE DILIGENCE

INSPECTION: EACH PROPERTY WILL HAVE DUE DILIGENCE DOCUMENTS AVAILABLE FOR VIEWING IN A SECURE DATA VAULT AT WWW.LANDSOURCEAUCTION.COM. A CONFIDENTIALITY AGREEMENT MAY BE REQUIRED TO BE ACKNOWLEDGED AND AGREED TO PRIOR TO ENTERING THE DATA VAULT. ALL BIDDERS MUST FULLY COMPLETE THEIR PROPERTY DUE DILIGENCE PRIOR TO BIDDING, INCLUDING REVIEWING THE INFORMATION CONTAINED IN THE DATA VAULT. NO BIDDER SHALL ENTER ONTO THE PREMISES OR INTO THE PROPERTY, OR CONTACT ANY OCCUPANTS OR TENANTS OF THE PROPERTY, WITHOUT THE AUTHORIZATION OF THE SELLER OR SELLER'S BROKER ("BROKER"). HOWEVER, VIEWING THE PROPERTY WITHOUT ENTERING ONTO THE PREMISES IS PERMISSIBLE.

EASEMENTS: PROPERTIES ARE SUBJECT TO ANY AND ALL EASEMENTS OF RECORD WHETHER RECORDED OR NOT RECORDED.

ZONING: THIS PROPERTY IS SUBJECT TO ALL STATE AND LOCAL ZONING ORDINANCES.

ACREAGE & AERIAL PHOTOS: PARCEL DIMENSIONS AND ACREAGES ARE BASED ON LEGAL

DESCRIPTIONS. AERIAL PHOTOS ARE FOR ILLUSTRATION PURPOSES ONLY AND NOT SURVEYED BOUNDARY LINES.

TERMS: 10% OF THE FINAL BID PRICE REQUIRED (REAL ESTATE) AS NON-REFUNDABLE EARNEST

MONEY IN THE FORM OF A CERTIFIED CHECK, CASH OR WIRE TRANSFER WITHIN 24 HOURS OF THE CLOSE OF AUCTION, WITH THE BALANCE OF PURCHASE PRICE DUE AT CLOSING. PURCHASER SHALL BE RESPONSIBLE FOR ALL WIRE TRANSFER FEES. CLOSING WILL BE AS SPECIFIED IN THE CONTRACT FOR SALE OF REAL ESTATE.  THIS ONLINE ONLY AUCTION IS A CASH SALE NOT CONTINGENT ON OR SUBJECT TO FINANCING, APPRAISAL, SURVEY OR INSPECTIONS OF ANY KIND, AS AGREED TO BY BIDDER AND OR BUYERS AT REGISTRATION. BUYER MAY OBTAIN FINANCING, BUT SAID FINANCING IS IN NO WAY CONTINGENT UPON BUYER'S OBLIGATION TO CLOSE ON THE TRANSACTION IN A TIMELY MANNER.

PAYMENT OF DEPOSIT AND REMAINING BALANCE. AS THE EARNEST MONEY DEPOSIT, WINNING BIDDER SHALL BE REQUIRED TO PAY AN AMOUNT EQUAL TO THE GREATER OF (I) TEN PERCENT (10%) OF THE TOTAL PURCHASE PRICE OR (II) $20,000 ON ANY PROPERTY PURCHASE (UNLESS OTHERWISE SPECIFIED IN THE PROPERTY TERMS AND CONDITIONS DOCUMENTATION). THE EARNEST MONEY DEPOSIT MUST BE MADE NO LATER THAN TWENTY-FOUR (24) HOURS FOLLOWING THE CLOSE OF THE AUCTION (INCLUDING FOR PROPERTIES SOLD "SUBJECT TO CONFIRMATION"). ALL MONIES WILL BE IMMEDIATELY DEPOSITED WITH AN ESCROW/CLOSING AGENT OR SETTLEMENT ATTORNEY AND SHALL BE RELEASED TO THE SELLER WITHIN TWENTY-FOUR (24) HOURS FOLLOWING RECEIPT BY THE ESCROW/CLOSING AGENT OF THE DEPOSIT AND THE FULLY EXECUTED PURCHASE AGREEMENT. THE BALANCE OF THE TOTAL PURCHASE PRICE, ALONG WITH ALL OTHER COSTS AND/OR FEES, MUST BE PAID AS REQUIRED IN THE PURCHASE AGREEMENT.

IF WINNING BIDDER FAILS TO DELIVER THE EARNEST MONEY DEPOSIT WITHIN TWENTY-FOUR (24) HOURS FOLLOWING THE CLOSE OF THE AUCTION, THEN AUCTIONEER OR SELLER CAN DECLARE THE WINNING BIDDER TO BE IN DEFAULT. IN SUCH EVENT, THE WINNING BIDDER SHALL BE SUBJECT TO LIQUIDATED DAMAGES EQUAL TO TEN PERCENT (10%) OF THE PURCHASE PRICE AND AUCTIONEER AND SELLER RESERVE THE RIGHT TO SEEK ANY AND ALL OTHER REMEDIES, INCLUDING SPECIFIC PERFORMANCE. ANY FURTHER

LIABILITY RESULTING FROM SUCH DEFAULT BY WINNING BIDDER SHALL BE CONTROLLED BY THE TERMS OF THE PURCHASE AGREEMENT. ADDITIONALLY, SELLER SHALL HAVE THE RIGHT TO RETAIN THE INITIAL BIDDING DEPOSIT AS PART OF THE LIQUIDATED DAMAGES.

CLOSING: ALL SALES ARE EXPECTED TO CLOSE WITH A NATIONAL OR REGIONAL ESCROW/CLOSING FIRM OR A SETTLEMENT ATTORNEY WITHIN THIRTY (30) DAYS OF THE CLOSE OF THE AUCTION OR AS SET FORTH IN THE PURCHASE AGREEMENT. WINNING BIDDERS SHALL BE REQUIRED TO PAY ALL CLOSING COSTS, INCLUDING, BUT NOT LIMITED TO, ESCROW/CLOSING FEES, RECORDING FEES, NORMAL PRORATIONS, DOCUMENT PREPARATION FEES, ALL TITLE RELATED FEES AND ALL DOCUMENTARY TRANSFER TAXES (OR OTHER TAXES) AS APPLICABLE AND AS SET FORTH IN THE PURCHASE AGREEMENT. WINNING BIDDERS ALSO MAY BE REQUIRED TO PAY ADDITIONAL FEES AND COSTS AS PROVIDED IN THE PURCHASE AGREEMENT.

CONVEYANCE: EXCEPT AS MAY BE SET FORTH IN THE PURCHASE AGREEMENT, ALL PROPERTIES ARE TO BE CONVEYED AS INSURABLE TITLE, WITH TITLE INSURANCE BY STANDARD TITLE POLICIES (AS APPLICABLE), SUBJECT TO CURRENT TAXES, RIGHTS-OF-WAY, ASSESSMENTS, EASEMENTS AND OTHER CONDITIONS OF RECORDS, AND ANY EXCEPTIONS WRITTEN IN THE PRELIMINARY TITLE REPORT OR COMMITMENT AND OTHER STANDARD TITLE EXCLUSIONS.

BUYER’S PREMIUM AND TOTAL PURCHASE PRICE: THE TOTAL PURCHASE PRICE WILL INCLUDE A BUYER'S PREMIUM WHICH WILL BE IDENTIFIED IN THE PROPERTY TERMS AND CONDITIONS. THEREFORE, THE ACTUAL TOTAL PURCHASE PRICE IS EQUAL TO THE WINNING BID AMOUNT PLUS THE BUYER'S PREMIUM (THE "TOTAL PURCHASE PRICE") BUT DOES NOT INCLUDE OTHER AMOUNTS PAYABLE BY THE BUYER DURING CLOSING, SUCH AS ESCROW/CLOSING FEES, ETC. PLEASE REVIEW THE PURCHASE AGREEMENT FOR SPECIFIC DETAILS.

TO QUALIFY FOR A COMMISSION, IF APPLICABLE, AND BECOME A REGISTERED BROKER/AGENT, YOU MUST:

COMPLETE IN FULL THE BROKER/AGENT PARTICIPATION FORM ONLINE AT WWW.LANDSOURCEAUCTION.COM AND PROVIDE A COPY TO THE ESCROW/CLOSING AGENT OR SETTLEMENT ATTORNEY PRIOR TO CLOSING, ALONG WITH A COPY OF YOUR VALID REAL ESTATE LICENSE.  IF YOU ARE AN AGENT, YOU MUST ALSO PROVIDE A LETTER, SIGNED BY YOUR BROKER ON COMPANY LETTERHEAD, WHICH SETS FORTH COMMISSION PAYMENT INFORMATION INCLUDING BROKER LICENSE NUMBER, NAME AND TAX IDENTIFICATION NUMBER. PRIOR TO CLOSING, YOU WILL BE REQUIRED TO PROVIDE THE ESCROW/CLOSING AGENT OR SETTLEMENT ATTORNEY WITH AN IRS FORM W-9 OR ELECTRONICALLY COMPLETE AN IRS FORM W-9 IN ORDER TO RECEIVE A COMMISSION. THIS W-9 MUST BE COMPLETED BY YOUR BROKER AS PAYMENT CAN ONLY BE MADE THROUGH THE BROKER WHO HOLDS YOUR LICENSE; AND PARTICIPATING BROKERS/AGENTS MAY BE REQUIRED TO SIGN THE PURCHASE DOCUMENTATION BY ELECTRONIC MEANS, ALONG WITH THEIR CLIENT. ANY REGISTERED BROKER/AGENT WHO FAILS TO SIGN THE PURCHASE DOCUMENTATION WITHIN THE TIME PRESCRIBED SHALL NOT BE ENTITLED TO ANY COMMISSION.  COMMISSIONS WILL BE PAID UPON CLOSING. NO COMMISSION WILL BE PAID TO A REGISTERED BROKER/AGENT (A) ACTING AS A PRINCIPAL IN THE PURCHASE OF ANY PROPERTY, (B) ACTING AS THE BROKER/AGENT ON BEHALF OF AN ENTITY (INCLUDING ANY CORPORATION, PARTNERSHIP, LIMITED LIABILITY COMPANY, OR TRUST)  IN  WHICH  THE BROKER/AGENT HAS AN INTEREST, (C) ACTING AS THE BROKER/AGENT ON BEHALF OF AN IMMEDIATE FAMILY MEMBER (DEFINED AS A SPOUSE, PARENT, SIBLING, OR CHILD INCLUDING IN-LAW RELATIONSHIPS). THERE ARE NO EXCEPTIONS TO THE BROKER/AGENT PARTICIPATION RULES.

CANCELLATION AND REFUND POLICY

LANDSOURCE HAS A POLICY TO NOT ISSUE ANY REFUNDS.  WINNING BIDDERS WILL BE CHARGED A NON REFUNDABLE INTERNET SERVICE FEE WHICH WILL BE CREDITED TO THE BUYERS PREMIUM AS DESCRIBED IN THE INDIVIDUAL PROPERTY TERMS AND CONDITIONS. THE ACTUAL SALES WILL OCCUR AT A BANK, TITLE COMPANY OR OTHER LOCATION TO BE IDENTIFIED IN THE PURCHASE AGREEMENT.  ALL SALES ARE FINAL.