1). This is a sealed bids sale. Bids must be submitted using the Offer to Purchase Real Estate form included in, and otherwise in compliance with the bid package instructions provided by the seller.
2) Acceptance of a bid by the Seller creates a binding, enforceable and unconditional contract to purchase the real estate. Seller reserves the right to select, in the Seller's sole and exclusive discretion, the winning bid and/or Buyer, or to reject all submitted bids.
3) The sale of this real estate shall be 'AS IS, WHERE IS, WITH ALL FAULTS.' All due diligence shall be completed prior to bid submission.
4) Each bid shall be accompanied by a $100,000 earnest money deposit. Within (1) business day of bid acceptance the successful bidder shall increase its earnest money deposit to not less than ten percent (10%) of the purchase price under its bid.
5) Upon acceptance of the bid, the initial and any additional earnest money thereafter submitted shall be non-refundable.
6) The Seller reserves the right to accept a bid prior to or after the bid submission deadline.
7) Subject to Seller's discretion the closing date shall be within 14 days of bid acceptance.
8) Bidders must have cash or certified funds sufficient to close the acquisition of the property and shall submit to the Seller upon request or instruction proof of such capacity. Such proof shall be reasonably satisfactory to the Seller in its sole and exclusive discretion.