SALES 1-10 (JUNE 27, 2015 AUCTION) STATEMENT OF SALE & ONLINE BIDDING TERMS

The sale of ALL PROPERTIES SALES 1-10 TO BE SOLD JUNE 27th, 2015, 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.

Sales 1-10 will be an Absolute Auction - All Sales are Final and will sell to the highest and best bidder. 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. 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 JUNE 27TH 2015 AUCTION START WEDNESDAY, JUNE 27TH AT 10:30 AM EDT AND WILL END ON SAT, JUNE 18TH DURING LIVE AUCTION BEGINNING AT 10:30 AM EDT. BY PLACING AN ONLINE BID FOR LIVE EVENT, SALES 1-10, YOU AUTHORIZE MCCARTER AUCTION, INC. OR ITS AFFILIATES TO IMPLEMENT YOUR BIDS AT THE LIVE AUCTION.

NOTE: during the live close of this simulcast auction a system operator will sit next to the auctioneer and offer online bidders the same bid opportunities that are being offered to the onsite bidders. If a bid is made via the internet, the operator will represent that bidder. Note that the operator may be bidding for several different online bidders at the same time. No preference is made for either onsite or online bidders; the bid will go to the first accepted by the auctioneer. Any tie bid or other issues regarding who has the high bid are always resolved by the Auctioneer, who has complete and final authority.

THE FINAL SALE OF PROPERTIES USING INTERNET BIDS AND LIVE ONSITE BIDS WILL DETERMINE THE WINNING BIDDERS OF PROPERTIES AS ADVERTISED.

This is an Absolute Auction and will sell to the highest and best bidder. Auctioneer is in full charge of auction having the right to set bid increments throughout the sale, settle any bid disputes, and accept or reject any bids at his discretion.

Terms for Real Estate are 10% down today, 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 and Associates will be the exclusive closing agent for all transactions.

NOTICE!! A 10% Buyer’s Premium will be added to all successful bids. The highest bid plus the 10% (ten percent) Buyer’s Premium will be the total sales price. Any changes made to buyer’s paperwork, including Warranty Deed or Trust Deed, must be made by this Wednesday, July 1st, or buyer may be charged for double paperwork at closing. Bidders must be ready, willing and able to close within 30 days. Please do not bid unless prepared to do so.

The properties will be sold in tracts and adopt the sale which brings the highest and best bid. The contract you sign on this property is final and binding. All successful bidders will be required to sign a note for the deposit amount with the contract, in addition to deposit paid day of sale. Note shall become null and void when buyer shall complete all requirements for closing as set out in the contract.

Taxes for the 2015 year to be prorated at closing and any back taxes to be paid by seller at closing. Closing for real estate will be on or before 30 days.

Possession of all properties to be given at closing.

Homes, buildings, and all other 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 and zoning regulations of properties are available online and here today.

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.

REMEMBER, this is an Absolute Auction and all sales are final. Do not bid unless you are prepared to pay appropriate deposit today and meet all conditions to close as set out in your contract.

NOTICE!! Please pay very close attention as each property is presented. Some properties will have specific pertinent information, which will be online and announced prior to that property being sold.

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 online bidder, who must execute and fax or email back to McCarter Auction Inc within 24 hours of receipt. Successful online 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 online 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 online 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.

INDIVIDUAL PROPERTY TERMS:

SALE #1 – 7.36 AC BABY FARM – OLD TIM ROGERS PLACE, SEVIERVILLE TN: Property zoned A-1, Sevier County. Home, outbuildings and all property sold in “as is” condition. A lead based paint disclosure must be signed by buyer of home. Home is not livable. Possession of property to be given at closing. Billboard is presently leased to Lamar Corporation for $100 per month. Billboard lease payment to be prorated at closing. The term of the lease is 10 years and provides that Lease may be continued per the original Lease Agreement. Lease Agreement contains an Option to purchase a perpetual easement for the sign. The option is to be exercised within thirty days of written notification by registered mail to Lamar Corporation. This notice has been made. If the option is exercised by Lamar Corporation, all proceeds will go to Seller and there will be no future rent income to Buyer. This property is being sold by survey done by Michael K. Suttles, RLS dated June 7, 2004. Copies of this survey are available online and at Civic Center during Open House and day of sale.

SALE #2 – DOUGLAS LAKEFRONT LOT W/DOCK LOT 5 OF BURCHFIELD ESTATES II, JEFFERSON COUNTY, TN

Property zoned A-1, Jefferson County. See copy of restrictions available online and at Civic Center during Open House and day of sale. 0.92 ac of this lot lays above the 1002 TVA easement. This lot has 3 bedroom approval Jefferson County Health Department. Note shaded area on map is reserved for field line use only.

SALE #3 – 20.87 AC FARM IN 4 TRACTS, SEYMOUR, TN

Property zoned R-1, Sevier County. These lots will sell High Bidder Choice then offered as a group with a 5% raise as per Grouping Outline available online and at Civic Center during Open House and day of sale. Note power line easement across front of all tracts. Knox Chapman Utility District has a 15 foot utility easement along the front of all tracts with a 16 inch water main. Contact Knox Chapman Utility District before digging over water line. Current water tap fee is $950. This property currently subject to a greenbelt assessment. Seller to pay any rollback taxes if necessary.

SALE #4 – LOT 39 MAJESTIC MEADOWS S/D, SEVIER COUNTY TN

Property zoned R-1, Sevier County. This lot has 3 bedroom approval and utility water is available. See copy of restrictions available online and at Civic Center during Open House and day of sale. This property is subject to Home Owners Association. Buyer(s) must join Home Owners Association and abide by their rules and regulations and pay appropriate fees. Per Seller, current fees are $75 per lot per year.

SALE #5 – LOTS 31 & 32 COOL SPRINGS S/D, SEVIER COUNTY TN

Property zoned R-1, Sevier County. Utility water and sewer available. See copy of restrictions available online and at Civic Center during Open House and day of sale. This property is subject to Home Owners Association. Buyer(s) must join Home Owners Association and abide by their rules and regulations and pay appropriate fees. Per Seller, current fees are $650 per lot per year, which include pool and playground privileges.

SALE #6a – 8.97 AC W/OLD BARN MIDWAY RD, KNOX COUNTY TN

Zoned C-4 City of Knoxville. Utility water available. Note TVA transmission line easement and small cemetery as shown on map. Barn and all property sold in “as is” condition. Sales 6a & 6b will sell individually then offered as a group with a 5% raise as per Grouping Outline available online and at Civic Center during Open House and day of sale.

SALE #6b – 1.07 AC MIDWAY RD, KNOX COUNTY TN

Zoned A Agricultural Knox County. Utility water available. Note center line of existing cemetery access road and TVA transmission line easement as shown on map. Sales 6a & 6b will sell individually then offered as a group with a 5% raise as per Grouping Outline available online and at Civic Center during Open House and day of sale.

SALE #7 – LOT 55 TIMBER LAKE S/D DOUGLAS LAKEFRONT, SEVIER COUNTY TN

Property zoned R-1, Sevier County. See copy of restrictions available online and at Civic Center during Open House and day of sale. Per map 0.595 ac of this lot lays above 1007 TVA easement. Note a portion of existing gravel drive to lake encroaches on neighboring property as shown on map.

SALE #8 – COURT ORDERED UNDERWOOD ESTATE 520 BENT RD KODAK TN NO. 13-12-5500

Property zoned R-1, Sevier County. Home and other buildings and all property sold in “as is” condition. A lead based paint disclosure must be signed by buyer of home. Home is not livable. Possession of property to be given at closing. Utility water is available. Subject to easement for Bent Rd along front of property. Note powerline across front corner to neighboring property as shown on map.

SALE #9 – COURT ORDERED GIBSON ESTATE 125 PANTHER CREEK, RD SEVIERVILLE TN NO. 13-05-5338

Property zoned A-1, Sevier County. Home, outbuildings and all property sold in “as is” condition. A lead based paint disclosure must be signed by buyer of home. Termite inspection letter will be provided to buyer of home. Please see copy of termite inspection letter available online and at Civic Center during Open House and day of sale. No live termites were found, but treatment for termites and carpenter bees was recommended. Buyer will be responsible for treatment. Note 100 year flood boundary along Panther Creek and 15 foot joint right of way from Panther Creek Rd to home as shown on map.

SALE #10 – LOTS 22 & 23 PHEASANT RIDGE S/D, SEVIER COUNTY TN

Property zoned R-1, City of Sevierville. Utility water and sewer available. See copy of restrictions available online and at Civic Center during Open House and day of sale. This property is subject to Home Owners Association. Buyer(s) must join Home Owners Association and abide by their rules and regulations and pay appropriate fees. Per Seller, current fees are $300 per lot per year.

10% BUYERS PREMIUM TO BE ADDED TO EACH SUCCESSFUL BID

Sales 1-10 Live Ballroom 2015 Summer