*SOLD!* Absolute Bank-Ordered Real Estate Auction - Gallitzin, PA

10% or $4,000 Buyers premium applies (Whichever is greater)<br>
10% or $4,000 deposit due day of auction (whichever is greater)<br>
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(F) Deposits will be held by Sherman Hostetter Group LLC (Hostetter Auctioneers), unless otherwise stated here:<br>
(H) Settlement to be made on or before: (Within 30 days of auction)<br>
(I) Conveyance from Seller will be by fee simple deed of general warranty unless otherwise stated here:<br>
(J) Payment of transfer taxes will be divided equally between Buyer and Seller unless otherwise stated here:<br>
(K) Real Estate Taxes will be prorated on a fiscal year basis, unless otherwise stated here:<br>
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(L) At time of settlement, the following shall be adjusted pro-rata on a daily basis between Buyer and Seller, reimbursing where applicable: taxes, rents, interests on mortgage assumptions; condominium fees and homeowner association fees, if any, water and/or sewer rents, if any, together with any other lienable municipal service. The charges are to be pro-rated for the period(s) covered: Seller will pay up to and including the date of settlement; Buyer will pay for all days following settlement.<br>
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4. FIXTURES AND PERSONAL PROPERTY<br>
(A) Included in this sale and purchase price are all existing items permanently installed in the Property, free from liens, including plumbing; heating; HVAC equipment; lighting fixtures (including chandeliers and ceiling fans); water treatment systems; pool and spa equipment; garage door openers and transmitters; television antennas; shrubbery, plantings and unpotted trees; any remaining heating and cooking fuels stored on the Property at the time of the settlement; wall to wall carpeting; shades, blinds, window covering hardware, built-in air conditioners; and built-in appliances.<br>
Also included:<br>
(B) EXCLUDED FIXTURES AND ITEMS:<br>
(C) LEASED items (items not owned by Seller):<br>
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5. SPECIAL CLAUSES<br>
(A) Auction Law - This Real Estate described is sold by auction and under auction law in the Commonwealth of Pennsylvania (whether before, during or after the auction; or by live auction, silent auction, private auction, sealed bid auction, internet auction, absentee bid or a privately negotiated sale). The Sellers have set the terms in this agreement for the conveyance of the real estate and/or have given the authority to the Auctioneers to set the terms and conditions of this auction. The Buyers, upon signing this agreement, acknowledge and accept all terms made by the Sellers and Auctioneers.<br>
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Buyer Initials ________ Seller Initials________<br>
(B) Absolute/Reserve - The Sellers are selling this real estate at [ ] reserve [ ] absolute auction including all rights and powers afforded the Seller by law.<br>
(C) Agency Disclosure - Buyer and Seller acknowledge and understand that Hostetter Auctioneers and their staff, employees, etc., are an agent for the Seller Only. The Buyer has either secured Buyer Representation or is waiving the representation in this transaction.<br>
(D) Residential Lead – Lead Based Paint Hazard Reduction Act Notice Required for Properties Built before 1978. Buyer acknowledges receipt of Lead Base Paint Notice. Buyer has a 10-day period immediately prior to the auction to conduct a risk assessment or inspection of the Property for the presence of lead based paint and/or lead based paint hazards. The Buyer hereby waives the Lead Base Paint risk assessment or inspection of the property and is purchasing the property “As-Is” and agrees to the release set forth in section 23 of this agreement.<br>
(E) Radon – Buyer understands that Buyer has the option to request that the Property be inspected for radon by a certified inspector. BUYER WAIVES THIS OPTION and agrees to the RELEASE set forth in section 23 of this agreement.<br>
(F) Urea Formaldehyde/Environmental Risks – See notice on page 7 of this agreement. Buyers are informed – that Sellers are unaware of any adverse presence of urea formaldehyde insulation or other environmental hazards. The Buyers should obtain any inspections desired to confirm that the property is environmentally safe. Should the condition of the premises be determined as unsafe as to environmental standards as set by the proper authorities, the Sellers may elect to cure the situation, or give credit at closing for remedy, in which event the Buyers will proceed with the purchase, or the Sellers may declare this agreement null &amp; void and only be responsible to the Buyers for the return of all hand money.<br>
(G) Asbestos – Used as a component of any building material may pose a health hazard. The Buyer may wish to have an inspection to determine if hazards are present in subject property or, if known to be present, to what degree. Buyers understand any unfavorable findings are not a condition or contingency of this agreement and agree to release as set forth in section 23 of this agreement.<br>
(H) Mold – Buyer agrees to hold the Seller and Seller’s Agents harmless in the event any mold contaminants are discovered on the property. Buyer understands mold is a naturally occurring microbe and that mold should pose no health threat unless concentrated at high levels in the living environment. The only way to determine if a mold like substance is truly mold or is present at high levels is through sample collecting and analytical testing. If Buyer has reason to believe there is a potential of mold contaminates, Buyer should obtain an inspection prior to the auction or making an offer. Any and all inspections and tests are at the Buyer’s expense. Buyers understand any unfavorable findings are not a condition of this agreement and agree to release as set forth in section 23 of this agreement.<br>
(I) Wetlands – Buyer understands and agrees that it is their responsibility to research for any and all wetland and flood plain areas effecting this property and that findings whether favorable or not, are not a contingency in this agreement.<br>
(J) Compliances – Buyer understands and agrees that any and all requirements needed for compliance with all Local, State and Federal laws, ordinances, inspections, permits, zoning, occupancy, etc., to fulfill obligations for property settlement are strictly and solely the Buyer’s expense and obligation.<br>
(K) Leases – Buyer accepts the property with any and all leases, known and unknown, pertaining to buildings, land, crops, mineral rights, including oil, gas, etc, equipment, personal property, etc., including any part thereof subject to a lease. Seller is obligated to provide any known leases to the Auctioneers and potential Buyers in a timely manner for inclusion in bidders packets, marketing program and sales agreement.<br>
(L) Consumer Notice – Buyer &amp; Seller have received the Consumer Notice (when registering or in the bidders packet) as adopted by the Real Estate Commission act 49 Pa. Code 35.366.<br>
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6. AS-IS - The Buyer hereby certify that they understand that they are purchasing the real estate in an “AS IS” condition and will accept the property in spite of any defects or conditions, known or unknown, visible or not visible, and therefore the Buyers do hereby release and forever discharge the Sellers and Auctioneers, their respective heirs, licensees, agents, employees, successors and assigns from any and all claims liabilities, losses, damages, costs, and expenses resulting therefrom. Neither the Sellers, Auctioneers, licensees, agents, nor employees shall be liable for any cost including damages, recession, reformation, allowance or adjustments, based on the failure of any component, property or aspect of the real estate, to conform to any specific standard and/or expectation of the Buyers.<br>
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7. PROPERTY INFORMATION - In entering into this agreement, the Buyers have not relied on any representation, claim, oral understanding, advertising, promotional activity, brochure, or plan of any kind made by the Seller, Auctioneers, licensees, agents or employees. The Sellers, Auctioneers, licensees, agents and employees make no representations, warranties or guarantees either expressed or implied, written or oral of any kind. All information furnished regarding the property is from sources deemed reliable, however it is not guaranteed and is subject to errors and omissions. The Buyers hereby certify they have relied solely on their own personal investigations and inspections relative to making an offer or bid to purchase the subject property. Buyer and Seller acknowledge that any Auctioneer, Brokers, Licensees, Agents and/or employees identified in this agreement, is not an expert in construction, engineering and or environmental matters, and has not made and will not make any representations or warranties, nor conduct investigations of any kind including environmental condition or suitability of the property or any adjacent properties.<br>
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8. NO MORTGAGE CONTINGENCY - This transaction is all cash to the Seller. Buyer understands that there is no mortgage financing contingency in this agreement. If for any reason, Buyer cannot close on this transaction the Buyer will forfeit their deposit and may be subject to legal proceedings. The Buyer understands that any and all required or needed repairs, inspections, surveys, permits, etcetera are strictly and solely the Buyers expense and obligation. The Buyer, upon receipt, will deliver a copy of the mortgage lender’s requirements to Sherman Hostetter Group LLC (Hostetter Auctioneers) and to Seller.<br>
Buyer Initials________ Seller Initials________<br>
9. DEPOSIT - Buyer and Seller hereby agree that the deposit monies will be placed in Sherman Hostetter Group LLC (Hostetter Auctioneers) Real Estate Escrow account until closing or termination of this agreement. Buyer’s deposit is non-refundable. This offer is irrevocable by the Buyer. If the Buyer fails to comply with the terms and conditions of this agreement, Buyer shall forfeit the deposit, as assessed and liquidated damages, and the Seller may proceed to make a resale of this property, either at public or private auction or at a privately negotiated sale. Upon retention of the Buyers deposit, the Sellers and Auctioneers will divide said deposit 50-50 or in accordance with the Auction Listing Agreement, and the Auctioneers in no case or manner will be held responsible by the Sellers or Buyers for either parties performance or non-performance to purchase. Sellers agree that the return of the Buyer’s deposit (for any reason) does not relieve the Seller of the Auctioneers fee/commission due.<br>
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10. INSPECTIONS<br>
(A) The Buyers, before bidding and before signing this agreement, were afforded the opportunity to personally inspect the real estate and to have, at the Buyers expense and obligation, professional inspectors, reputable certifiers, insurer representatives, appraisers, bankers, surveyors, title insurers, municipal officials, etcetera, investigate and inspect the real estate for the Buyer.<br>
(B) The Buyers are purchasing solely in reliance upon their own investigation and inspection and that there are no representations or warranties, expressed or implied, made by the Sellers, Auctioneers, agents or employees. Seller further agrees to permit any other inspections required by lending institutions, insuring agencies, etceteras, or provided for in the terms of this agreement. Any and all expenses and obligations for all repairs, inspections, surveys, permits, etc. are strictly and solely the Buyers responsibility.<br>
(C) Buyer understands that Buyer has the option to request inspections of the property (wood infestation, certificate of occupancy, lead base paint, radon, mold, urea formaldehyde, environmental risks, water, sewer, home, building, or mechanical inspections, etc.) Any and all expenses and obligations for such inspections and remedies are strictly and solely the Buyers. The Buyers understand they are purchasing the property “AS-IS” and agree to the release set forth in section 23 of this agreement.<br>
(D) If an occupancy certificate is required, Buyer shall, at Buyer’s expense and obligation, order the certificate for occupancy. The transaction is not contingent upon the Buyers ability to obtain an occupancy permit. In the event repairs/improvements are required for the issuance of the certificate, Buyer shall, make the required repairs/improvements at Buyers expense and obligation.<br>
(E) Buyer understands and agrees that any and all inspections and their findings (favorable or not) are not a contingency in this agreement.<br>
(F) The Buyers should obtain any inspections desired to confirm that the property is environmentally safe. Should the condition of the premises be determined as unsafe as to environmental standards as set by the proper authorities, the Sellers may elect to cure the situation, or give credit at closing for remedy, in which the Buyer will proceed with purchase, or the Sellers may declare this agreement null and void and only be responsible to the Buyers for the return of all hand money.<br>
(G) Buyer reserves the right to make a pre-settlement walk-through inspection of the property.<br>
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11. TITLE, SURVEYS, AND COSTS<br>
(A) The Sellers shall convey the title in fee simple deed of special warranty. The property is to be conveyed free and clear of all liens, encumbrances, and easements, EXCEPTING HOWEVER the following; existing deed restrictions, historic preservation restrictions or ordinances, building restrictions, ordinances, easements of roads, easements visible upon the ground, easements of record, privileges or rights of public service companies, if any; otherwise the title to the above described real estate shall be good and marketable and such as will be insured by a reputable Title Insurance Company at the regular rates. All Title work, Title insurance, and all expenses incurred by the Buyer (prior to and after the closing) are strictly and solely the expense and obligation of the Buyer. The Buyer accepts present condition of the Title of the Real Estate. The Buyer will give a two-month extension past the closing date listed in 3H of this agreement for the Seller to correct any title problems to convey a free and clear deed.<br>
(B) In the event Seller is unable to give a good and marketable title and such as will be insured by a reputable Title Insurance Company at the regular rates, the Buyer shall have the option of taking such title as Seller can give without changing the price, or of being repaid the deposit paid by the Buyer to Seller on account of purchase price, and there shall be no further liability or obligation on either of