July 11 Real Estate Auction

CONDITIONS OF SALE FOR REAL ESTATE

 The conditions of the public sale to be held July 11, 2009 at 12 noon of real estate consisting of all the land and improvements situated at 5935 Devonshire Rd, Harrisburg, Pa 17112 

1. The Seller reserves the right to reject any and all bids for the said property and if necessary, to adjourn the sale from time to time.

 2. The highest bidder shall be declared by the auctioneer to be the purchaser, subject to Seller’s right to reject all bids. The successful bidder shall immediately sign the agreement, which is a part of these conditions. If any dispute arises among bidders, the property may immediately be offered for renewal of bidding.

 3. Title to the real estate shall be good and marketable, free and clear of liens, but subject to zoning regulations and subdivision regulations, restrictions, easements and rights-of-way of record. There is no guarantee or warranty as to the precise area to be conveyed. The deed conveying the premises shall be a special warranty deed.

 4. The premises are sold AS IS and there are no warranties express or implied with regard to the premises, fixtures, equipment or improvements.

 5. $15,000 (fifteen thousand) Dollars shall be paid in cash or certified funds (cashier’s check) at the time of the signing of the sales agreement which must occur on the day of the sale, immediately after the sale is declared by the Auctioneer. The balance shall be paid at final settlement.

 6. Final settlement shall be held on or before August 25, 2009 (45 days). Deed to the premises shall be tendered and possession given at final settlement.

 7. At final settlement, state and local realty transfer taxes shall be divided equally between the Seller and the Buyer. The real estate taxes shall be prorated at final settlement on a fiscal year basis. Municipal charges will be prorated at final settlement.

 8. In the event that the buyer fails to fulfill and perform any of the terms and conditions of the sale, the seller, at the seller’s option, may either retain the down payment as liquidated damages, or may pursue its remedies at law or equity. In the event the seller is not able to fulfill and perform any of the terms and conditions of the sale, the seller shall return to the buyer the down payment made on the day of sale and the buyer shall have no further claim against the property or against the owners thereof.

 9. These conditions of sale are to be construed and interpreted in accordance with the laws of the Commonwealth of Pennsylvania.

SELLER                                                                          BIDDER

                                                                              I/WE have received and read conditions of
____________________________________      sale and agree and accept them:
                                                           Date

____________________________________      _____________________________________
                                                           Date               Bidder                                                 Date