4/5/16 ONLINE ONLY BIDDING SPRING BALLROOM AUCTION STATEMENT OF SALE & ONLINE TERMS

The sale of Sales 1-13 and 15-17 APRIL 2016 AUCTION LOCATED IN SEVIER, JEFFERSON, COCKE, AND BLOUNT COUNTIES, TN will be sold as follows:

10% BUYERS PREMIUM WILL BE ADDED TO EACH SUCCESSFUL BID

All newspaper or other publications and all oral and verbal statements as to advertising made by owners of said property and by McCarter Auction, Inc., or any agent of said company, or by Scott E. McCarter, are hereby revoked.

This is an Absolute Auction - All Sales are Final. Each Sale # has its own announcements. Please pay very close attention as this will cover the terms and conditions for that property. The highest bid plus a 10% Buyers Premium will be the total sales price. All successful bidders will be required to sign a note for the deposit amount, in addition to deposit paid day of sale VIA CASH, GOOD CHECK, WIRE TRANSFER, OR CREDIT CARD. CREDIT CARD PAYMENT ONLY UP TO $1,000 AND ANY BALANCE ABOVE $1,000 TO BE PAID VIA CASH, GOOD CHECK OR WIRE TRANSFER. Note shall become null and void when buyer shall complete all requirements for closing as set out in their contract.

ALL ONLINE BIDS ON THIS AUCTION START WEDNESDAY, MARCH 30TH, AT 10:30 AM EDT AND WILL BEGIN ENDING ON TUESDAY APRIL 5TH AT 2:00 PM EDT.

AUCTION END TIMES: McCarter Auction, Inc. Online Auctions are timed events and all bidding will close at specified time. McCarter Auction, Inc. Online Auctions also have an auto extend feature. Any bid placed in the final 5 minutes of an auction, the auction ending will be automatically extended 5 minutes from the time the bid was placed. Example: if an auction scheduled to close at 2:00 receives a bid at 1:59, the close time will automatically extend 2:04. The auto extend feature remains active until no further bids are received within a 5 minute time frame. ALL PROPERTIES IN THIS SALE EXTEND IF ANY ONE OF THEM IS EXTENDED. McCarter Auction, Inc. reserves the right to adjust the auto extension time period.

THE FINAL SALE OF PROPERTIES USING INTERNET BIDS/MAX BIDS WILL DETERMINE THE WINNING BIDDERS OF PROPERTIES AS ADVERTISED.

INTERNET BIDDING INCREMENTS =

$0 TO $2,500.00 --- 50.00

$2,500.01 TO $10,000.00 --- 100.00

$10,000.01 TO $25,000.00 --- $250.00

$25,000.01 TO $50,000.00 --- $500.00

$50,000.01 TO $250,000.00 --- $1,000.00

$250,000.01 TO $500,000.00 -- $5,000.00

$500,000.01 AND UP --- $10,000.00

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 bidders at registration prior to bidding and specified in the attached Auction Sales Contract.

BID PACKAGE: Auction Sales Contract & Promissory Note Package, along with any other paperwork pertaining to each sale #, will be sent by e-mail from McCarter Auction Inc to the successful bidder, who must execute and fax or email back to McCarter Auction Inc within 24 hours of receipt. Successful bidders not executing and returning their contract & promissory note with earnest money deposit (10% non refundable deposit of total purchase price (certified funds or wire) made payable to McCarter Auction Inc) within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable. The entirety of the remaining balance is due at closing. Purchaser shall be responsible for all wire transfer fees and closing fees as set out in Auction Sales Contract and Auction Statement of Sale.

Auction Administrative Fee: In the event a winning bidder fails to submit the signed “Auction Sales Contract,” signed “Promissory Note,” and deposit earnest money as provided in the pre-stipulated Auction Terms, the winning bidder will be charged an administrative fee of $2,500.00 on the credit card provided at auction registration. Additional default remedies are reserved by McCarter Auction Inc and the Seller as provided in the Auction Statement of Sale, the Auction Sales Contract and the Promissory Note. All Administrative Fees are non-refundable.

AUCTION SALES CONTRACT, PROMISSORY NOTE, and STATEMENT OF SALE: Each property is offered under specific terms provided in the auction sales contract, promissory note, and statement of sale. The Auction Sales Contract, Promissory Note, Statement of Sale are available at www.mccarterauction.com in the “View Documents” section of this auction website. Please read and review the contract, promissory note, and statement of sale thoroughly prior to bidding on any property. If you have not read and reviewed the Auction Sales Contract, Promissory Note, Statement of Sale and all other materials available plus completed your own “due diligence” to satisfy all questions, please Do Not Bid!

Buyer’s Premium: A 10% buyer’s premium will be added to the bid price on all properties to determine the final contract price.

McCarter Auction Inc has the sole authority to resolve any bidding disputes as they may arise.

McCarter Auction Inc is providing internet/online bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the ending day of the auction. Under no circumstances shall Bidder have any kind of claim against McCarter Auction Inc or anyone else if the internet service fails to work correctly before or during the ending of the auction. McCarter Auction Inc will not be responsible for any missed bids from any source.

Taxes for the 2016 year to be prorated at closing and any back taxes to be paid by seller at closing. Closing on all Real Estate will be on or before 30 days from April 5th, 2016. Possession of all properties to be given at closing, unless otherwise stated in individual property terms. All properties to be sold in “as is” condition with no guarantees or warranties expressed or implied. Please rely on your previous inspections of all properties. Copies of surveys, restrictions, zoning regulations and any other paperwork pertaining to the properties are available online.

The properties will be sold subject to zoning, easements and restrictions of record and will be sold as described from maps. The properties will be sold free from all encumbrances and a Warranty Deed will be executed by the owner to the purchaser for said land.

Terms for Real Estate are 10% down day of online bidding end, balance at closing within 30 days. Buyer to pay one-half of closing fee, in addition to their other individual closing costs. Please note that Johnson Murrell & Associates will be the exclusive closing agent for all transactions.

REMEMBER, this is an Absolute Auction and all sales are final. Do not bid unless you are prepared to pay appropriate deposit and meet all conditions to close as set out in your contract. Bidders must be ready, willing and able to close within 30 days. Please do not bid unless prepared to do so.

INDIVIDUAL PROPERTY TERMS:

SALE #1: 17.20 AC IN 3 TRACTS W/DOUBLEWIDE 3870 WILHITE RD, SEVIERVILLE TN: All property sold in “as is” condition. Home needs some major repairs. Please inspect to your satisfaction. Zoned A-1 Sevier County. Selling from map dated March 9, 2016 by Eddy R. Garrett, Registered Land Surveyor. Note: there is a joint use access easement at front of Tract 2 and Tract 3, which provides access to all 3 Tracts. Per Field Line Layout obtained from Sevier County Health Department, Tract 2 has a 2 bedroom approval. This property currently subject to a greenbelt assessment. Seller to pay any rollback taxes if necessary.

SALE #2 LOTS 24 & 25 OF OMA LEE WILLIAMS PROPERTY OFF JONES COVE RD, SEVIER COUNTY, TN: All property sold in “as is” condition. Zoned A-1, Sevier County. Selling from recorded map. Per recorded map, these lots have 3 bedroom approval from Sevier County Health Department. See restrictions available online.

SALE #3 CHOOSE 1 FROM 6 LOTS (LOT 20, 22, 29, 46, 68 OR 72) COOL SPRINGS S/D, OFF BOYDS CREEK RD, SEVIER COUNTY, TN: all property sold in “as is” condition. Zoned R-1 Sevier County. See restrictions available online. Buyer must join Homeowner’s Association and abide by their rules and regulations and pay any necessary fees, which includes pool and playground privileges. Selling from recorded map. Utility water and sewer available. McCarter Auction staff will contact successful bidder immediately after auction closes to determine lot number chosen by bidder to complete auction sales contract.

SALE #4 CHOOSE 1 FROM 5 LOTS (LOT 25, 26, 33, 34, OR 35) HIGH MEADOWS S/D, SEVIER COUNTY, TN: all property sold in “as is” condition. Zoned R-1 Sevier County. See restrictions available online. Buyer must join Homeowner’s Association and abide by their rules and regulations and pay any necessary fees. Selling from recorded map. Utility water available. See notes on recorded map showing 3 bedroom approval for drain fields. Also note drainage easements as shown on recorded map. McCarter Auction staff will contact successful bidder immediately after auction closes to determine lot number chosen by bidder to complete auction sales contract.

SALE #5 PART OF LOT 5 TYROLEA SEC 2, GATLINBURG TN: all property sold in “as is” condition. Zoned R-1 City of Gatlinburg. Selling from map dated February 7, 2012 by Ronnie L. Sims, Registered Land Surveyor. Utility water available. City sewer not available. Buyer of this lot is buying “as is” and would be responsible for obtaining possible septic approval from Sevier County Health Department. See restriction available online.

SALE #6: 0.67 AC W/SMALL OLDER HOUSE THAT NEEDS REPAIRS, 3426 BENT RD, KODAK TN: All property sold in “as is” condition. Zoned A-1 Sevier County, TN. Selling from recorded map. Utility water and natural gas available per seller. Per Sevier County Health Department, there was no record found of septic approval. Buyer of this lot is buying “as is” and would be responsible for obtaining possible septic approval.

SALE #7 LOT 33 RIVER POINTE S/D, SEVIER COUNTY TN: all property sold in “as is” condition. Zoned R-1 Sevier County. Utility water available. Selling from recorded map. See restrictions available online.

SALE #8: LOT 17B OF J. C. ALLEN ESTATE, SEVIER COUNTY, TN: all property sold in “as is” condition. Zoned R-1 Sevier County. Utility water available. Selling from recorded map. See restrictions available online.

SALE #9: LOT CU-1 TRILLIUM COMMERCIAL COVE, A PLANNED UNIT DEVELOPMENT, 123 PAINTED TRILLIUM WAY, TOWNSEND TN: all property sold in “as is” condition. Zoned B-1 General Business District, City of Townsend. Selling from recorded map. See restrictions available online. Buyer must join Property Owner’s Association and abide by their rules and regulations and pay any necessary fees. Water and sewer available.

SALE #10: LOT 94 TALL OAKS PLANNED COMMUNITY PHASE III, 4514 PRIMROSE CIRCLE, MARYVILLE TN: all property sold in “as is” condition. Zoned R-1, Blount County. Selling from recorded map. See restrictions available online. Buyer must join Homeowner’s Association and abide by their rules and regulations and pay any necessary fees. Utility water and sewer available. It appears that part of the neighbor’s portable carport encroaches on part of this property.

SALE #11: LOT 89 ECHOTA RESORT, SEVIERVILLE TN: all property sold in “as is” condition. Zoned R-3 City of Sevierville. Selling from recorded map. See restrictions available online. Buyer must join Homeowner’s Association and abide by their rules and regulations and pay any necessary fees. Per seller, Homeowner’s Association is not active at this time. The roads and easements in Echota Resort are private and shall be maintained by the Echota Homeowner’s Association. Utility water, sewer & cable available. Note: there is a joint use right-of-way across front of Lot 89 for access to Lot 90.

SALE #12: LOT 16 MOUNTAIN CREST S/D, JEFFERSON COUNTY, TN: all property sold in “as is” condition. Zoned R-1 Jefferson County. Selling from recorded map. See restrictions available online. Water service is from Shady Grove, per seller.

SALE #13: LOTS 26 & 27 RIDGE CREST ACRES, SEVIER COUNTY, TN: all property sold in “as is” condition. Zoned A-1, Sevier County. Selling from recorded map. Each lot has 1 bedroom approval from Sevier County Health Department. Both lots have a right to use a shared well across the street, see well agreement available online. Note 30 ft easement for ingress and egress as shown on recorded map.

SALE #14: 0.547 AC PARCEL AND 1.65 AC PARCEL LOCATED ON CLIFTON HEIGHTS RD, NEWPORT TN will not sell in this auction

SALE #15: LOTS 11, 12, & 17 OF ENGLISH PARK ESTATE, COCKE COUNTY, TN: all property sold in “as is” condition. Selling from recorded map dated 1972. Lot 17 fronts a paved Janus Road. Lots 11 & 12 front Briggs Drive, an unimproved road. See restrictions available online.

SALE #16: LOTS 116 & 118 RIVERCREST S/D, COCKE COUNTY, TN: all property sold in “as is” condition. Selling from recorded map. See restrictions available online. Buyer must join Homeowner’s Association and abide by their rules and regulations and pay any necessary fees.

SALE #17: LOTS 925, 961, 986 & 1413 OF BANEBERRY TN: All property sold in “as is” condition. Property zoned City of Baneberry, TN. No new survey, selling from recorded maps. Per City of Baneberry, utility water is available. Per Jefferson County Health Department, there was no record found of septic approval. Buyer(s) of these lots are buying “as is” and would be responsible for obtaining possible septic approval. See copy of restrictions online.

10% BUYERS PREMIUM TO BE ADDED TO EACH SUCCESSFUL BID

Online Only 26 PROPERTIES 4/5/16 Absolute Auction