5.0± Acre Tract of Vacant Commercial Land 379 Sardis Road, Asheville, NC

Previews: Please Call for Details Auction Location: Online Online Bidding Opens: February 10, 10am ET Online Bidding Closes: February 12, 2:30pm ET Property #: AP15001-14

Tranzon Fox 121 Pennsylvania Avenue Virginia Beach, VA 23462

P: 704-806-3131 F: 757-473-9787 dbarnhardt@tranzon.com

Tranzon Fox | NCAF 4953

TABLE OF CONTENTS Project Summary Page 1 NC Working with Real Estate Agents Form Page 2 Disclaimer Page 6 Property Description Page 7 Area Map Page 8 Property Detail Report Page 9 Portion of Zoning Page 11 Copy of Advertising Page 13 Terms and Conditions for Timed Online Auctions Page 14 Additional Terms and Conditions Page 17 Agreement for Purchase and Sale Page 18 Title Commitment Page 27 Online Auction FAQs Page 37

PROJECT SUMMARY AUCTION – 5.0± Acres Tract of Vacant Commercial Land

Property #: AP15001-14

Online Bidding Commences: Tuesday, February 10, 10am ET Online Bidding Ends: Thursday, February 12, 2:30pm ET Inspections: Please Call for Details Property Address: 379 Sardis Road Asheville, NC Auction Location: Online Only Registration: Parties interested in bidding may register for the sale at

www.tranzon.com any time. Please see FAQ regarding online auctions included in this package for more information.

Summary of Terms: Online-only auction; high bidder will be required to execute a Purchase and Sale Agreement/Contract to Purchase immediately following auction close; if high bid is accepted by seller, high bidder must provide by wire transfer, bank check, cashier’s check or certified check in United States funds a non-refundable deposit equal to 10% of the purchase price within 24 hours following the notification of Seller high bid acceptance; balance will be due and payable within 30 days; property sold as-is with no contingencies; please see complete Terms and Conditions. Our staff is readily available to assist you with any questions you may have regarding the property or the auction process. As a reminder to real estate professionals, we offer a broker participation fee. Please call us at (704) 806-3131 for details. Thank you for your interest in this property, we look forward to hearing from you.

Sincerely,

DAVID BARNHARDT, GRI Auction Associate DB/spr

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NOTICE ATTENTION PROSPECTIVE BIDDERS

Auction Company is acting solely as agent for the Seller

ALL INFORMATION CONTAINED IN THIS AND OTHER ADVERTISEMENTS WAS OBTAINED FROM SOURCES BELIEVED TO BE ACCURATE. HOWEVER, NO WARRANTY OR GUARANTEE, EITHER EXPRESSED OR IMPLIED, IS INTENDED OR MADE. NEITHER THE AUCTION COMPANY NOR ITS EMPLOYEES, AFFILIATES, OR AGENTS (HEREINAFTER “AUCTION COMPANY”) REPRESENT THE BUYER/BIDDER. ALL PROSPECTIVE BUYERS/BIDDERS MUST INDEPENDENTLY INVESTIGATE AND CONFIRM ANY INFORMATION OR ASSUMPTIONS ON WHICH ANY BID IS BASED. NEITHER AUCTION COMPANY NOR SELLERS SHALL BE LIABLE FOR ANY ERRORS OR THE CORRECTNESS OF INFORMATION.

ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ANY OTHER PROPERTY INFORMATION OR PRINTED TERMS OF SALE. ITEMS MAY BE ADDED OR DELETED. THE PROPERTY AND IMPROVEMENTS ARE SOLD “AS IS, WHERE IS, WITH ALL FAULTS” AND WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND WITH RESPECT TO THE ACCURACY, CORRECTNESS, COMPLETENESS, CONTENT OR MEANING OF THE INFORMATION CONTAINED HEREIN. PROSPECTIVE BUYERS/BIDDERS SHOULD VERIFY ALL INFORMATION.

ALL PROSPECTIVE BUYERS/BIDDERS RECOGNIZE AND AGREE THAT ANY INVESTIGATION, EXAMINATION, OR INSPECTION OF THE PROPERTY IS WITHIN THE CONTROL OF THE OWNER OR OTHER PARTIES IN POSSESSION AND THEIR AGENTS. POTENTIAL BUYERS/BIDDERS ARE ENCOURAGED TO SEEK INFORMATION FROM PROFESSIONALS REGARDING ANY SPECIFIC ISSUE OR CONCERN. ANY DECISION TO PURCHASE OR NOT TO PURCHASE IS THE SOLE AND INDEPENDENT BUSINESS DECISION OF THE POTENTIAL BUYER/BIDDER. NO RECOURSE OR CAUSE OF ACTION WILL LIE AGAINST ANY OF THE ABOVE-MENTIONED PARTIES SHOULD BUYER BECOME DISSATISFIED WITH ITS DECISION, WHATEVER IT MAY BE, AT A LATER DATE.

AUCTION COMPANY AND SELLER HAVE THE RIGHT TO POSTPONE OR CANCEL THE AUCTION IN WHOLE OR IN PART, IN ITS SOLE DISCRETION. AUCTION COMPANY AND SELLER RESERVE THE RIGHT TO REFUSE ADMITTANCE TO, OR EXPEL ANYONE FROM THE AUCTION PREMISES FOR INTERFERENCE WITH AUCTION ACTIVITIES, NUISANCE CANVASSING, SOLICITING OR OTHER REASONS.

TRANZON COMPANIES ARE A MEMBER COMPANY OF TRANZON, LLC AND TRANZON INTERNATIONAL, LLC. ALL TRANZON COMPANIES ARE INDEPENDENTLY OWNED AND OPERATED.

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PROPERTY DESCRIPTION

Cleared and mostly flat 5.0± acretract of land on Sardis Road inAsheville, NC

Zoned CI – lends itself for manycommercial uses

211± feet of road frontage

Property Detail Address: 379 Sardis Road, Asheville, NC Tax ID: 9617-92-3229 Zoning: CI – Commercial Industrial District Lot Size: 5.0± acres Frontage: 211± feet along Sardis Road Access: 2.4± miles from Interstate 26 and 1.75± miles from Interstate 40

Tax Information Assessed Value: $762,300.00 (2014 Tax Year) Annual Taxes: $8,111.00

Town/County Contact Information Telephone #: (828) 259-5499 Website: www.ashevillenc.gov

IMPORTANT NOTE: Property was acquired by Seller through foreclosure, deed in lieu of foreclosure, or similar process and as a result, Seller has little or no direct knowledge of the condition of the property. No representations or warranties of any kind are made with respect to the property, including, without limitation, its condition, any use to which it may be put, or environmental conditions. Interested parties should conduct their own investigations and due diligence.

DISCLAIMER: This information is derived from sources believed correct, but is not guaranteed. Buyers shall rely entirely on their own information, judgment and inspection of the property records. All properties sold on an “AS IS, WHERE IS” basis. Tranzon strongly recommends you contact the appropriate offices to verify information as well as review files pertaining to this property, including, but not limited to, Code Enforcement, Zoning, Planning Board, Assessor, and Collector files.

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Copyright © and (P) 1988–2012 Microsoft Corporation and/or its suppliers. All rights reserved. http://www.microsoft.com/streets/Certain mapping and direction data © 2012 NAVTEQ. All rights reserved. The Data for areas of Canada includes information taken with permission from Canadian authorities, including: ©Her Majesty the Queen in Right of Canada, © Queen's Printer for Ontario. NAVTEQ and NAVTEQ ON BOARD are trademarks of NAVTEQ. © 2012 Tele Atlas North America, Inc. All rights reserved. Tele Atlas and Tele Atlas North America are trademarks of Tele Atlas, Inc. © 2012 by Applied Geographic Solutions. All rights reserved. Portions © Copyright 2012 by Woodall Publications Corp. All rights reserved.

AREA MAP

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Property DetailPage 1 of 2

The data within this report is compiled by CoreLogic from public and private sources. If desired, the accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.

Courtesy of David Barnhardt, CAROLINA MULTIPLE LISTING SERVICES INC

Generated on 12/15/2014

379 Sardis Rd, Asheville, NC 28806, Buncombe County

Beds

N/A

Bldg Sq Ft

N/A

Lot Sq Ft

217,800

Sale Price

N/A

Baths

N/A

Yr Built

N/A

Type

COML ACG

Sale Date

N/A

Owner Information

Owner: Td Bank N A Tax Billing Zip: 29601Tax Billing Address: 104 S Main St Tax Billing Zip+4: 2711Tax Billing City & State: Greenville, SC Owner Occupied: No

Location Information

School District : Enka Consol High Sch Carrier Route: R013Subdivision: Banks West Investments Zoning: CITownship: Asheville 05 Neighborhood Code: Sar-SarCensus Tract: 23.02

Tax Information

Parcel ID: 9617-92-3229-00000 Tax Area: CASAlt Parcel ID: 008247751 Tax Appraisal Area: CASLegal Description: BANKS WEST INVESTMENTS

Assessment & Tax

Assessment Year 2014 2013 2012Assessed Value - Total $762,300 $762,300 $374,400Assessed Value - Land $762,300 $762,300 $374,400YOY Assessed Change ($) $0 $387,900YOY Assessed Change (%) 0% 103.61%Market Value - Total $762,300 $762,300 $374,400Market Value - Land $762,300 $762,300 $374,400

Tax Year Total Tax Change ($) Change (%)2012 $3,5382013 $8,111 $4,573 129.25%2014 $8,111 -$0 -0%

Characteristics

Land Use - Universal : Commercial Acreage Lot Sq Ft: 217,800Land Use - County : Commercial Vacant Water: IndividualLot Acres: 5 Sewer: Individual

Last Market Sale & Sales History

Owner: Td Bank N A

Sale Date 05/12/2009 12/06/2005Recording Date 07/08/2009 01/18/2007Nominal Y YBuyer Name Sardis Dev Co LLC West Michael GSeller Name West Michael G & Wendy L Bank-West Investments LLCDeed/Page 4702-484 4348-1612Document Type Warranty Deed Warranty Deed

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Property DetailPage 2 of 2

The data within this report is compiled by CoreLogic from public and private sources. If desired, the accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.

Courtesy of David Barnhardt, CAROLINA MULTIPLE LISTING SERVICES INC

Generated on 12/15/2014

Property Map

*Lot Dimensions are Estimated

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Sec. 7-8-20. - Commercial Industrial District.

(a) Purpose. The Commercial Industrial District is established to provide areas for a wide range of commercial and industrial uses including: light manufacturing, wholesale, warehousing, services, retail sales, offices, and residential uses. The district is established where environmental conditions and urban infrastructure are adequate to support commercial and industrial development.

(b) Allowable land uses. All permitted uses, special uses, conditional uses and uses expressly prohibited are identified in subsection 7-8-1(d), Table of Permitted Uses. Standards for special uses and conditional uses can be found in article XVI of this chapter.

(c) Prohibited uses. Any use not specifically listed as a permitted use or a use by right, subject to special requirements in the Commercial Industrial District is prohibited. In addition, asphalt plants are expressly prohibited.

Gated communities. This shall not include those gated communities lawfully established prior to June 12, 2007, or extend to those properties acquired as part of such communities prior to June 12, 2007, provided it can be demonstrated that these properties were included in a documented community masterplan.

(d) Reserved.

(e) Reserved.

(f) Development standards.

(1) Density standards. The maximum residential density per acre within the Commercial Industrial District shall be 16 dwelling units.

(2) Structure size standards. None.

(3) Lot size standards. None.

(4) Lot width standards. Lots in the Commercial Industrial District shall have a minimum width of 100 feet.

(5) Setback standards. The following minimum setbacks shall be required for uses in the Commercial Industrial District.

Front: Front: 35 feet, except that the minimum setback may be reduced to five feet in pedestrian-oriented areas where road widening is not anticipated provided that all parking is located to the side or rear and not closer to the street than the facade of the principal structure, and where pedestrian-oriented design features are incorporated in building and site design.

Side: None required.

Rear: 10 ft.

Corner lot, street side: 25 ft.

The landscape and buffering standards (section 7-11-3) may require additional setback; if so, the most restrictive requirement shall apply.

The minimum spacing between structures shall, in addition, be as per the Asheville Fire Prevention Code.

(6) Impervious surface standards. None.

(7) Height standards. The maximum height of structures in the Commercial Industrial District shall 80 feet.

(8) Landscaping/buffering standards. Landscaping and/or buffering shall be provided as required by section 7-11-3 of this chapter.

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(9) Parking/loading standards. Parking and loading facilities shall be provided as required by section 7-11-2 of this chapter. No parking shall be permitted in the required front setback.

(10) Sidewalk standards. Sidewalks shall be provided as required by and pursuant to the requirements for sidewalks as set forth in section 7-11-8 of this chapter.

(11) Access standards. Points of access to the street shall be determined by the city traffic engineer following review of the site plan and other relevant information.

(12) Recreational/open space standards. Open space shall be provided as required by section 7-11-4 of this chapter.

(13) Design and operation standards. Open storage shall not be permitted within any required setback.

(14) Emergency wireless communications. Communication requirements shall be provided as required by section 7-11-9 of this chapter.

(Ord. No. 2369, § 1, 5-27-97; Ord. No. 2462, §§ 1(a), 2, 4-14-98; Ord. No. 2539, § 1, 1-26-99; Ord. No. 2649, § 1(d), 12-21-99; Ord. No. 2663, § 1(g), 2-8-00; Ord. No. 2664, § 1(t), 2-8-00; Ord. No. 2792, § 1(c), 2-13-01; Ord. No. 2904, § 1(t), 3-12-02; Ord. No. 3002, § 1b, 2-25-03; Ord. No. 3010, § 1(c), 3-25-03; Ord. No. 3156, § 1, 8-24-04; Ord. No. 3209, § 1b, 1-25-05; Ord. No. 3272, § 1(b), 7-26-05; Ord. No. 3337, §§ 1(b), (c), 2-28-06; Ord. No. 3390, § 1(b), 9-12-06; Ord. No. 3483, § 1(b), 6-2-07; Ord. No. 3583, § 1(a), 2-12-08; Ord. No. 3643, § 1a, 7-22-08; Ord. No. 3685, §§ 1b, d, 1-13-09; Ord. No. 3743, § 1a, 6-9-09; Ord. No. 3856, § 1b, 5-25-10; Ord. No. 3874, § 1g, 6-8-10; Ord. No. 3908, § 1b, 10-26-10; Ord. No. 3959, §§ 1n, p, 4-12-11)

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TRANZON.COM 704-806-3131

Tranzon Fox | NCAF 4953Sales subject to Terms & Conditions. Brokers welcome.

COPY OF ADVERTISING

Bank Owned Properties13 Land Parcels & 3 Commercial Properties - North CarolinaLand:- Larger Lots Ranging From 32± to 93± Acres- Many Residential Single Family Home Lots• Arden • Hendersonville (4)• Asheville • Weaverville (2)• Brevard (2) • Zirconia• Burnsville (2)

Commercial Properties:• Clyde • Hendersonville • Marion

Online Bidding Opens: February 10 | 10amLive Auction: Marion - February 10 | 12pm

BURNSVILLE

HENDERSONVILLE

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Terms and Conditions for Timed Online Auctions The following Terms and Conditions apply to all online auctions conducted by Tranzon member companies. The auction company or companies conducting this auction is or are referred to as “we” or “our” or “Auctioneer” in the following Terms and Conditions, and references to the Auctioneer include all of the Auctioneer’s employees, officers, directors, principals, employees, agents and other representatives. The Auctioneer is a member company in Tranzon, LLC and Tranzon International, LLC. All Tranzon member companies are independently owned and operated. The Auctioneer is conducting this auction as an online auction only. Bidders are referred to as “you” or “your” or “Bidder(s)” in the following Terms and Conditions. You are required to acknowledge that you have read and understand these Terms and Conditions before you will be allowed to register for and bid at this auction. In addition, the Auctioneer may add additional terms and conditions (the “Additional Terms and Conditions”) for this auction, and you will be required to acknowledge that you have read and understand any such Additional Terms and Conditions. Such Additional Terms and Conditions may include notification that there is a published or unpublished reserve, or that the results of the bidding at this auction are subject to Seller confirmation. In the event of any conflict between these Terms and Conditions and any such Additional Terms and Conditions provided by the Auctioneer, the Additional Terms and Conditions shall apply and shall supersede any conflicting provisions in these Terms and Conditions. Agent for Seller: The Auctioneer does not own the property being sold in this auction. The property being sold in this auction is owned by one or more parties referred to in these Terms and Conditions as the “Seller.” The Auctioneer is representing the Seller exclusively in this auction transaction. Due Diligence: It is your responsibility to obtain and read the Property Information Package relating to the property being sold at this auction, as well as any and all other information made available on the Tranzon website relating to this auction and the property being sold at this auction. You acknowledge and represent that you have done so. Notwithstanding the foregoing, you also acknowledge and agree that the sale pursuant to this auction is being made on an “as-is, where-is” basis, with no representations or warranties of any kind, expressed or implied, by the Seller and/or the Auctioneer. You further acknowledge that any information contained in the Property Information Package or otherwise obtained through the Tranzon website or directly or indirectly from the Auctioneer and/or the Seller is being presented to the best of the Auctioneer’s and the Seller’s actual knowledge without independent verification. Therefore, it is your sole and exclusive responsibility to inspect the property; review the documents relating to the property; assess the accuracy and completeness of the information contained in the Property Information Package and any such other documents; and independently verify and confirm any estimates, projections, or assumptions relating thereto, none of which may be considered to be guaranties. In connection therewith, you have the sole and exclusive responsibility to select and consult with any and all professional advisors of your choosing in determining whether to bid at this auction. You acknowledge that you have relied exclusively on your own investigation and determinations and the advice or your own professional advisors, and expressly represent that you have not relied upon any information provided by the Seller or the Auctioneer in any way, whether through the Property Information Package or other documents, through the Auctioneer’s website, or by any oral, written or electronic communications with the Auctioneer or the Seller, or otherwise. No Conditions or Contingencies: Without limiting the generality of the foregoing, you acknowledge and agree (i) that the completion of the sale following the conclusion of the auction is not contingent upon any inspection or verification of any such information, and the Closing Date or Closing Time (as defined below) will not be extended in order to permit any such inspection or review; (ii) that neither the Seller nor the Auctioneer nor any broker participating in the transaction to which this auction relates shall have any liability for any relief, including. damages of any kind, rescission or reformation of the Purchase Contract (as defined below) or adjustment to the terms of the Purchase Contract based upon any failure of the property to conform to any description contained in the Property Information Package, or to any standard or any expectation that you may have in connection with the property and (iii) that the completion of the sale is not subject to any financing or other contingency of any sort. You represent and warrant that by registering to bid and bidding during this auction, yo u have conducted all necessary investigations, and have determined to place a bid relying solely on your own independent investigation or verification of material facts concerning the sale and the suitability of the property for your intended use if you are the successful bidder. Registration and Verification: In order to bid at this auction, you will be required to register at the Tranzon website, www.tranzon.com (the “Tranzon website”). All Bidders seeking to register for this auction must be eighteen (18) years of age or older, must be eligible to bid in the Auctioneer’s sole discretion based on the Auctioneer’s past experience with the registering bidder or otherwise, and are subject to verification through credit card information that must be provided in the registration process. You will be asked to provide credit card information for this purpose, and we will use a third party service to verify that your credit card is valid and has available credit. We will not place a charge against your credit card, but a “hold” may be placed on an amount of funds on your credit card until the auction bidding has been completed and for a reasonable period of time to allow for a release of any such hold after the conclusion of the auction. When your registration to bid on this auction has been approved, you will receive an email notification that you have been approved for bidding. If we are unable to verify your credit card, you will have no rights to bid at this auction, and your

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registration will be deemed to be not accepted and/or terminated or extinguished without notice. In addition, bidding rights are not absolute, and all registrations, even if successfully verified by credit card as described above, are subject to manual verification at any time, and from time to time, by the Auctioneer. We may suspend or terminate your registration for this auction at any time, and for any and all reasons or for no reason, in our sole discretion. We will notify you by email if your approval to bid at this auction has been terminated or suspended. Bidding Time: This auction is a timed auction event. Bidding is scheduled to begin and close at the times set forth on the Tranzon website. All time references on the bidding site for Tranzon online auctions are expressed in Eastern Time, and you should therefore be mindful of the need to convert to local time when bidding on auctions of properties located in other time zones. It is your responsibility to check the Tranzon website carefully so that you are aware of the scheduled closing time. Extended Bidding Time: Notwithstanding the scheduled closing time for this auction, in the event that a bid is made at any time during the final two (2) minutes of the scheduled bidding time, the bidding time will automatically be extended for an additional two (2) minutes. For example, if the bidding is scheduled to close at 3:00 PM ET, and a bid is placed at 2:58 PM ET, the bidding will be extended until 3:02 PM. Subsequent and additional extensions shall be applied to any and all bids placed during any such extension period until an extension period has expired without additional bids being placed, at which time the bidding time, as extended, shall be closed. Bidder Responsibility: Bidders must take care in entering bids, and each Bidder will be responsible for all bids placed under the Bidder’s approved registration. Once entered and recorded online, a bid is deemed to be final on behalf of the registered Bidder and may not be modified, retracted or rescinded in whole or in part. Bid Increments: Once bidding has commenced, any advances on a bid must be made in increments at least as great as those which we, in our sole discretion, have determined. We may, in our sole discretion, change or modify the required bid increments from time to time, or at multiple times, during the auction. We also provide opportunities for a bidder to submit a maximum bid amount (often called a “max bid”) and to direct that our website bid on such bidder’s behalf in scheduled increments until the maximum amount identified by the bidder has been reached. In the event that you bid the same amount as was previously authorized by another bidder’s max bid, the other bidder’s max bid will be deemed to be the prevailing bid at that amount. In the event that there should be any dispute among competitive bidders with regard to the identity or amount of the high bid, the Auctioneer may reopen bidding on the property and may, in conjunction with such reopening of the bidding, designate one of the bidders as the “High Bidder” in the Auctioneer’s sole discretion. All decisions by the Auctioneer shall be final. Technical Problems: We have made reasonable efforts to provide for online bidding for this auction. You recognize and acknowledge, however, that technical problems with hardware, software, or internet connectivity, as well as human errors, may arise and may affect, without limitation, the Tranzon website, our online bidding program and process, your or our internet service and access, and your connection to this auction’s bidding program and process. You further acknowledge that these and other technical problems may develop at any time and with or without notice. You acknowledge and agree that neither we nor the Seller is in anyway responsible for any such technical problems, and that you have no absolute or other right to be able to bid on this auction in the event of any such technical problems. Notwithstanding the foregoing, you further acknowledge and agree that, in the event of any such technical problems, we reserve the right to postpone or cancel the auction and/or extend the bidding time for this auction and/or relist the property for auction at another time, in our sole discretion, and that our decision with regard to any such actions is and will be final. Terms Specific to This Auction or Property: As noted above, the Auctioneer may provide Additional Terms and Conditions that are specific to this auction or the property or properties being sold at this auction. Without limiting the generality of the foregoing, such Additional Terms and Conditions may, but shall not necessarily be required to, relate to the following provisions, among others:

Bid Deposit: A bid deposit in an amount set forth on the Tranzon website or as communicated by the Auctioneer in the Additional Terms and Conditions may be required in order to bid. Any such deposit may be required in the form of a credit card authorization or actual funds, which the Auctioneer may hold until the completion of bidding and for a reasonable period of time to allow for the release of any such deposit and/or the return of any such funds after the conclusion of the auction. Earnest Money Deposit: If you are the successful bidder, you may then be required to tender an additional deposit in the form of a cashier’s check or wire transfer, within 24 hours or such other time as may be specified by the Auctioneer following the close of the auction, to be held by the Auctioneer or a designated escrow agent, all as set forth on the Tranzon website or in the Additional Terms and Conditions. Purchase Contract: If you are the successful bidder, you will be required to sign a purchase and sale agreement or similar agreement or document, however captioned or titled (the “Purchase Contract”) and other necessary documents in the form designated by, and within the time periods established by, the Auctioneer, generally 24 hours. The terms of the Purchase Contract are expressly not negotiable and the Purchase Contract must be signed in the name of the high

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bidder and, except as may specifically be permitted by the terms of the Purchase Contract or expressly agreed upon in writing by the Seller or Auctioneer in their sole discretion, may not be assigned to any other person or party. The Purchase Contract and such other documents will set forth the specific terms and conditions of the sale, including the time by which the high bidder’s sale of the property must be completed. Copies of some or all of these documents are available on the Tranzon website or may be obtained from the Auctioneer, and it is your responsibility to obtain, read, and understand the provisions of any such documents before bidding at this auction. The Seller’s obligations to the successful bidder are exclusively as set forth in the Purchase Contract. Buyer’s Premium: A buyer’s premium (“Buyer’s Premium”) in a percentage specified by the Auctioneer as noted on the Tranzon website or in the Additional Terms and Conditions may be added to the successful bidder’s highest bid price. Any such Buyer’s Premium shall become part of the total purchase price in the Purchase Contract, and must be paid by the successful bidder. Closing: All sales must close within a period of time (the “Closing Time”) or on a date certain (the “Closing Date”) set forth in the Purchase Contract, unless extended by the Seller in writing. Unless otherwise provided in the Purchase Contract or other documents pertaining to this particular auction, any extensions shall be requested in writing not later than five (5) days before expiration of the Closing Time or the scheduled Closing Date, as the case may be, and any such requests may or may not be considered by the Seller and granted by the Seller in the Seller’s sole discretion. In preparation for the closing, the balance of the purchase price and any and all other funds necessary to complete the purchase must be provided by the successful bidder to the Seller or its closing agent(s), in immediately available funds or by wire transfer as directed by the Seller’s closing agent(s), not later the forty-eight (48) hours before the scheduled closing or at such other time as may be expressly designated by the Seller’s closing agent(s),. High Bidder’s Default: Successful Bidders who fail to close in a timely manner for any reason shall be required to release their deposit(s) to Seller as liquidated damages and not as a penalty, and the Seller retains the unilateral right to cancel any escrow and retain the successful bidder’s deposit in the event the successful bidder fails to complete the purchase as required by the terms of the Purchase Contract. In addition, in the event the successful bidder fails to submit the executed Purchase Contract and any required earnest money deposit as required by these Terms and Conditions and any Additional Terms and conditions, the successful bidder authorizes the Auctioneer to charge a fee of Five Thousand Dollars ($5,000) or such other amount as may be specified in any Additional Terms and Conditions, which amount may be charged to the high bidder’s credit card provided in conjunction with the bidder’s registration, or may be paid by retention of the high bidder’s deposit check, in the sole discretion of the Auctioneer. These remedies are in addition to any other remedies, including specific performance and/or additional money damages, that the Seller and/or the Auctioneer may have in equity or at law. The Auctioneer and the Seller also reserve the right immediately to put the property up for sale again.

General Terms and Conditions: You acknowledge and understand that the Auctioneer reserves the right, for any reason or for no reason in the Auctioneer’s sole discretion, (i) to determine who has access to a n d wh o ma y b i d a t this auction, ( i i ) to postpone or cancel the a uction, ( i i i ) to withdraw the property or any one or more properties from the auction, (iv) to change any terms of the auction or particular conditions of sale upon announcement prior to or during the course of the auction, (v) to bid on behalf of the Seller up to the amount of any reserve price, where permitted by law, (vi) to reject any and all bids, and (vii) to select the winning bid. You further acknowledge that neither the Seller nor the Auctioneer nor any broker involved in this auction is making any representation or warranty as to the manner in which the sale process will be managed, and that, except as may otherwise be provided by law, any acceptance of a winning bid prior to the execution of a binding Purchase Contract may be rescinded by the Seller in the Seller’s sole discretion and for any reason whatsoever including the receipt of a subsequent bid, and that the Seller’s obligation to sell any property or properties in this auction shall not be binding until such final Purchase Contract is signed and delivered by the Seller and the winning bidder. The Auctioneer may sell the property or any one or more properties subject to this auction in advance of the auction, in the Auctioneer’s sole discretion. The sole and exclusive venue for any d i s p u t e s regarding or relating i n a n y w a y to this auction or the transactions made in conjunction with this auction shall be in the state courts of general jurisdiction located in the jurisdiction where the property that is subject to this auction is located, or if more than one such jurisdiction is related to such property or properties, in any one of such jurisdictions as the Auctioneer may select, or, at the election of the Seller in its sole discretion in any jurisdiction where the Seller maintains a principal or other place of business, and you irrevocably submit to the jurisdiction of such courts.

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Additional Terms and Conditions

• Credit Card Hold: $1,000.00 credit card hold at the time of registering to bid online.

• Subject to Sale Prior to Auction: Property may be sold prior to commencement of online bidding.

• Auction Type: Seller has the right to reject or accept high bid. High Bidder will be notified if high bid has been accepted or rejected.

• Buyer’s Premium: N/A.

• Purchase & Sale Agreement Execution: At the time of registering to bid for an online auction, bidders must provide an e-mail and telephone number they can be reached at immediately following the close of the online bidding event. Immediately after the close of the online bidding event, High Bidder must execute the Purchase and Sale Agreement/Contract to Purchase via a secure online document signing service.

• Deposit: If High Bidder’s bid is accepted, High Bidder will be required within twenty-four (24) hours following the notification of Seller high bid acceptance to submit by wire transfer, bank check, cashier’s check or certified check in United States funds, a non-refundable Deposit equaling ten percent (10%) of the Purchase Price.

• Closing: Within thirty (30) days as described in the Purchase and Sale Agreement/Contract to Purchase.

• Broker Participation Fee: Tranzon Fox encourages Cooperating Brokerage participation with

licensed real estate brokers. A fee of two percent (2%) of the high bid will be paid at closing by Tranzon Fox to a cooperating buyer's broker who registers the successful buyer who closes on the property. (No commission will be paid if the buyer fails to close). Broker must register their client by mail,e-mail or fax with Tranzon Fox, (Mail: 121 Pennsylvania Avenue, Virginia Beach, VA 23462; Fax:757-473-9787;or E-mail: dbarnhardt@tranzon.com) prior to the client placing any bids in the online bidding event. The form must be signed by both the broker and the client. Registration must be on the Broker/Client Registration form provided by Tranzon Fox. Brokers acting as principals are not eligible for this commission. There will be NO EXCEPTIONS to this procedure.

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AGREEMENT FOR PURCHASE AND SALE OF REAL PROPERTY

THIS AGREEMENT made this _______ day of ___________________________, 2015 by and between __________________________________________________________________________(“Buyer”), and TD Bank, N.A., and/or any wholly owned subsidiaries of TD Bank, N.A., with a mailing address of P.O. Box 9540, Portland, ME 04112 (“Seller”). FOR AND IN CONSIDERATION OF THE MUTUAL PROMISES SET FORTH HEREIN AND OTHER GOOD AND VALUABLE CONSIDERATION, THE RECEIPT AND SUFFICIENCY OF WHICH ARE HEREBY ACKNOWLEDGED, THE PARTIES HERETO AGREE AS FOLLOWS: Section 1. Terms and Definitions: The terms listed below shall have the respective meaning given them as set forth adjacent to each term.

(a) “Property”: ____________________________________________________, North Carolina.

___ If this box is checked, “Property” shall mean that property described on Exhibit A attached hereto and incorporated herewith by reference as if fully set forth herein, together with all buildings and improvements thereon and all fixtures and appurtenance thereto and all personal property, if any, itemized on Exhibit A. (b) “Irrevocable Offer and Purchase Price” shall mean the sum of: $___________ Dollars. No obligation to sell shall be binding on Seller unless and until Agreement is signed by Seller and delivered by Seller or Seller’s agent/representative. Buyer agrees to pay the Purchase Price, payable on the following terms:

$____________(c) “Earnest Money” (equals 10% of the Purchase Price). Buyer shall pay the non-refundable Earnest Money to Ward and Smith, P.A. (the "Escrow Agent") via wire transfer, bank check, cashier's check or certified check in United States funds within 24 hours of written or verbal notification of Seller’s acceptance of Buyer's high bid. Checks should be made out to Ward and Smith, P.A. Trust Account. Escrow Agent shall hold the Earnest Money and shall (i) pay it over to Seller at Closing for application to the payment of the Purchase Price, (ii) return it to Buyer when instructed to do so by Seller upon the conditions set forth herein, or (iii) in the event of Buyer’s default and at Seller’s option, pay it over to Seller for application as set forth in Paragraph 8 below. Any interest accruing on the Earnest Money while held by the Escrow Agent shall be retained by the Escrow Agent. All Purchase Price funds paid pursuant to this Agreement, including Earnest Money and the remainder of the Purchase Price paid at Closing, shall be deposited and held by the Escrow Agent in a trust account maintained at TD Bank, N.A.

(d) Buyer shall pay the remainder of the Purchase Price to Seller at Closing in cash, by wire transfer, bank check, cashier's check or certified check in United States funds.

(e) “Closing” shall occur no more than thirty (30) days following the Effective Date of this Agreement. As to the Buyer, there will be no exceptions to this Closing date. The term "days" shall mean consecutive calendar days, including Saturdays, Sundays and holidays, whether federal, state, local or religious. For the purposes of calculating days, the count of "days" shall begin on the day following the day upon which Seller has executed this Agreement (f) “Broker(s)” shall mean: Tranzon Fox (“Listing Agency”), and _____________________________ as (“Listing Agent”) acting as Seller’s Agent; and ______________________________________________ acting as Buyer's agent (the"Cooperating Broker"). A fee of two percent (2%) of Buyer's high bid will be paid at Closing by Escrow Agent to Cooperating Broker if, and only if, Buyer closes on the purchase of the Property. No commission shall be paid if Buyer does not purchase the Property for any reason.

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Cooperating Broker shall register his or her client with Auction Firm by mail, e-mail or fax with Tranzon Fox, (Mail: 121 Pennsylvania Avenue, Virginia Beach, VA 23462; Fax: 757-473-9787; or E-mail: dbarnhardt@tranzon.com). (g) “Seller’s Notice Address” shall be as follows: except as same may be changed pursuant to Section 10. (h)“Buyer’s Notice Address” shall be as follows: __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ � (i) If this block is marked, additional terms of this Agreement are set forth on Exhibit B attached hereto and incorporated herein by reference. Section 2. Proration of Expenses and Payment of Costs: Seller and Buyer agree that all property taxes, water, sewer, association assessments, rents (if collected), or any other assumed liabilities as detailed on attached Exhibit B, if any, shall be prorated as of the date of Closing. Seller shall pay deed stamps and other conveyance fees or conveyance taxes, and Buyer shall pay recording costs, costs of any title search, title insurance, and survey obtained by Buyer, Buyer's own attorneys' fees and legal costs, and the following additional costs: ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Section 3. Sale of Property: Seller agrees to sell the Property for the Purchase Price as forth on page 1. Section 4. Payment of Purchase Price: Buyer shall pay the Purchase Price in accordance with all the terms and conditions of this contract. Section 5. Title: Seller agrees to convey title in the Property by North Carolina Special Warranty Deed. At Closing, Seller shall use its best efforts to deliver to Buyer good and marketable title to said Property, subject, however, to the following permitted circumstances (each a “Permitted Encumbrance”): (i) matters that do not render title to the Property unmarketable; (ii) rights of tenants, if any; (iii) the lien of ad valorem real estate taxes not yet due and payable; (iv) such state of facts as an accurate survey and physical inspection of the Property would reveal; and (v) ordinary and customary easements, encumbrances and other restrictions of record.. If, prior to Closing hereunder, Buyer identifies a title defect other than a Permitted Encumbrance, Seller shall have the opportunity, but not the obligation, to attempt to cure the title defect, and Seller may in its sole discretion extend the Closing date accordingly. If Seller does not elect to attempt to cure the title defect, or if Seller attempts but is not successful in curing the title defect, Buyer or Seller shall have the option to terminate the Agreement, in which case Seller shall (a) instruct the Escrow Agent to return the Earnest Money (less interest) to Buyer as Buyer's sole and exclusive remedy, and neither party shall have any further obligation or liability to the other; or (b) Buyer may waive the title defect and proceed to Closing hereunder, without any adjustment or modification of the Purchase Price. Notwithstanding the above, if an owner’s title policy can be obtained without exception or with affirmative protection over any title defect, Buyer shall be required to waive its objection to the title defect and proceed to Closing, or otherwise agrees that it shall forfeit its Earnest Money deposit to Seller.

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Buyer acknowledges that prior to Closing but after this Agreement has been entered into between the parties, it may be determined that Seller is legally obligated to comply with the terms of an Offer to Purchase or a Right of First Refusal with a third party. In such event, Seller, in its sole discretion, shall have the option to terminate this Agreement, in which case Buyer shall be entitled to receive its Earnest Money (less interest) as Buyer's sole and exclusive remedy, and neither party shall have any further obligation or liability to the other. Section 6. Conditions: The Property shall be sold to Buyer in AS-IS, WHERE-IS condition. . The Seller makes no representations or warranties as to the condition of the Property. BUYER'S OBLIGATIONS UNDER THIS AGREEMENT ARE NOT CONDITIONED UPON OBTAINING OR CLOSING ANY LOAN. Buyer's failure to close on the purchase of the Property due to failure to obtain financing shall be deemed a breach by Buyer, and Buyer shall forfeit its Earnest Money deposit to Seller. Section 7. Risk of Loss/Damage/Repair: Until the Closing, the risk of loss or damage to the Property, except as otherwise provided herein, shall be borne by seller. In the event the Property is damaged so that the Property cannot be conveyed in substantially the same condition as it was on the date of this Agreement, Buyer may select to terminate this Agreement and the Earnest Money shall be returned to the Buyer as the Buyer’s sole remedy. Seller shall have no responsibility for the repair for the Property, including any improvements, and shall have no further obligation to Buyer hereunder. Section 8. Earnest Money Disbursement: In the event Buyer breaches this Agreement by failing to purchase the Property on or before the Closing date for any reason other than the existence of a title defect that does not qualify as a Permitted Encumbrance, then the Buyer's Earnest Money shall be forfeited to Seller, and such forfeiture shall not affect or limit any other remedies available to Seller for such breach. It is acknowledged by the parties that payment of the Earnest Money to Seller in the event of a breach of this Agreement by Buyer is compensatory and not punitive, such amount being a reasonable estimation of the actual loss that Seller would incur as a result of such breach. The payment of the Earnest Money to Seller shall not constitute a penalty or forfeiture, but actual compensation for Seller's anticipated loss, both parties acknowledging the difficulty in determining Seller's actual damages for such breach. NOTE: In the event of a dispute between Seller and Buyer over the return or forfeiture of Earnest Money held in escrow by the Escrow Agent, the Escrow Agent is required by state law to retain said Earnest Money in its trust or escrow account until it has obtained a written release from the parties consenting to its disposition, or until disbursement is ordered by a court of competent jurisdiction. Alternatively, the Escrow Agent may deposit the disputed monies with the appropriate clerk of court in accordance with the provisions of North Carolina Genera Statutes Section 93A-12. Section 9. Closing: The Closing shall consist of the execution and delivery by Seller to Buyer of a North Carolina Special Warranty Deed and other documents customarily executed by a seller in similar transactions, including without limitation, an owner’s affidavit, lien waiver forms, and a non-foreign affidavit, and the payment by Buyer to Seller of the Purchase Price in accordance with the terms of the Purchase Price hereunder. At Closing, the Earnest Money shall be applied as part of the Purchase Price or as otherwise provided in Section 1(c). The Closing shall be held at the office of Buyer’s attorney or such other place as the parties hereto may mutually agree. Possession shall be delivered at Closing, unless otherwise agreed herein. Buyer’s acceptance of title at Closing shall constitute Buyer’s acceptance of the Property in its then existing condition, and Buyer's agreement that Seller has fully complied with Section 5 hereof. Section 10 . Release. BUYER HEREBY RELEASES SELLER AND ANY SERVICER, AGENT REPRESENTATIVE, MANAGER, AUCTIONEER, AFFILIATE, OFFICER, PARTNER, SHAREHOLDER OR EMPLOYEE OF SELLER (A “SELLER RELATED PARTY”) FROM ALL CLAIMS, LOSSES, DAMAGES, LIABILITIES, COSTS AND EXPENSES WHICH BUYER OR ANY PARTY RELATED TO OR AFFILIATED WITH BUYER (A “BUYER RELATED PARTY”) HAS OR MAY HAVE ARISING FROM OR RELATED TO ANY MATTER OR THING RELATED TO THE PHYSICAL CONDITION OF THE PROPERTY, ANY CONSTRUCTION DEFECTS, ANY ERRORS

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OR OMISSIONS IN THE DESIGN OR CONSTRUCTION OF THE PROPERTY AND ANY ENVIRONMENTAL CONDITIONS AT, IN, ON OR UNDER THE PROPERTY, AND BUYER WILL NOT LOOK TO SELLER OR ANY SELLER RELATED PARTY IN CONNECTION WITH THE FOREGOING FOR ANY REDRESS OR RELIEF. Section 11. Notices: Unless otherwise provided herein, all notices and other communications which may be or are required to be given or made by any party to the other in connection herewith shall be in writing and shall be deemed to have been properly given and received on the date delivered in person or deposited in the United States mail, registered or certified, return receipt requested, to the addresses set out in Section 1(g) as to Seller and in Section 1(h) as to Buyer, or at such other addresses as specified by written notice delivered in accordance herewith. Section 12. Entire Agreement: This Agreement constitutes the sole and entire agreement among the parties hereto and no modification of this Agreement shall be binding unless in writing and signed by all parties hereto. Section 13. Survival of Representations and Warranties: All representations, warranties, covenants and agreements made by the Seller shall not survive the Closing and delivery of the deed. Section 14. Applicable Law: This Agreement shall be construed under the laws of the State of North Carolina. Section 15. Effective Date: The Effective Date of this Agreement is agreed to be the date on which the Seller executes this Agreement, constituting Seller's acceptance thereof. Section 16. Assignment. This Agreement may not be assigned by Buyer without the written consent of Seller. In the event that Seller agrees to permit assignment of this Agreement, then this Agreement shall be binding on the assignee and the assignee's heirs and successors. Section 17. Execution. This Agreement may be signed in multiple originals or counterparts, all of which together constitute one and the same instrument, and the parties adopt as their seals the word "SEAL" beside their signatures below. THIS DOCUMENT IS A LEGAL DOCUMENT. EXECUTION OF THIS DOCUMENT HAS LEGAL CONSEQUENCES THAT ARE ENFORCEABLE IN A COURT OF LAW. THE PARTIES ACKNOWLEDGE THAT SELLER, LISTING AGENCY, LISTING AGENT, AND AUCTION FIRM, INCLUDING THEIR AGENTS AND AFFILIATES, MAKE NO REPRESENTATIONS CONCERNING THE LEGAL SUFFICIENCY, LEGAL EFFECT OR TAX CONSEQUENCES OF THIS AGREEMENT OR THE TRANSACTION TO WHICH IT RELATES. IF YOU DO NOT FEEL THIS DOCUMENT MEETS YOUR NEEDS, YOU SHOULD CONSULT YOUR ATTORNEY BEFORE YOU SIGN IT. BUYER: SELLER: TD BANK, N.A. Individual __________________________________(SEAL) ___________________________________(SEAL) Date:______________________________ Dated (Effective Date)______________________ __________________________________(SEAL) Date:______________________________

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Business Entity: __________________________________ (Name of Firm) By: ______________________________ (SEAL) Title:______________________________ Date:______________________________ The undersigned hereby acknowledges receipt of the Earnest Money set forth herein and agrees to hold said Earnest Money is accordance with the terms hereof. ______________________________________________________________________________________

(Name of Firm) Date:___________________________________ By:________________________________________

BUYER STATEMENT OF NON-RELATEDNESS

I/We hereby state that I/we am/are not employed by The Toronto-Dominion Bank or any of its subsidiaries or affiliated corporations, including TD Bank, N.A. (the “Bank”) nor am I related in any way with attorneys (solicitors) or agents retained by or on behalf of the Bank in relation to the property that is the subject of this transaction and confirm that I am dealing at arm’s length with the aforementioned parties. To the extent that any such relationships exist, the relationships are as follows: ______________________________________________________________ Dated: ______________________ BUYER_______________________

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______________________________________________________________________________Prepared by Ward and Smith, P.A., 1001 College Court (28562), Post Office Box 867, New Bern, NC 28563-0867Please return to ________________________________________________________________.

No opinion on title is rendered by Ward and Smith, P.A., without a separate written opinion on title from Ward and Smith, P.A.

SPECIAL WARRANTY DEED

Parcel: 9617–92–3229–00000

TD Bank 53931 – 30649

Revenue Stamps: $______________

The property does not include the primary residence of the party of the first part. (N.C. Gen.

Stat. § 105-317.2)

STATE OF NORTH CAROLINA

COUNTY OF BUNCOMBE

THIS SPECIAL WARRANTY DEED, made and entered into this the ____ day

of ______________, 201__ by and between TD BANK, N.A., party of the first part (the address

of the party of the first part is: 104 South Main Street, Greenville, SC 29601); and

_________________________________________________________________, party of the

second part (whether one or more) (the address of the party of the second part is:

__________________________________________________________________________).

W I T N E S S E T H :

That the party of the first part in consideration of the sum of Ten and No/100

Dollars ($10.00) and other good and valuable considerations paid to the party of the first part by

the party of the second part, the receipt and sufficiency of which hereby are acknowledged, has

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granted, bargained, sold and conveyed and by these presents does grant, bargain, sell and convey

unto the party of the second part, said party's heirs, successors, and assigns, the following

described property to wit:

All that certain tract or parcel of land lying and being situate in Buncombe County, North Carolina, and being more particularly described as follows:

Being all of that 5 acre tract or parcel of land being shown as the Westernmost 5 acre tract as shown on that plat recorded in Plat Book 106, at Page 199, in the Office of the Register of Deeds for Buncombe County and being more particular described as follows:

Beginning at an existing iron pipe, marking the Eastern most corner of the Lana A. Robinson property shown as Lot #2 on that plat recorded in Plat Book 86, at Page 170, Buncombe County Registry and further described in Deed Book 2184, at Page 438, Buncombe County Registry and from the beginning corner thus established, runs North 33 degrees 3 minutes 38 seconds East 640.94 feet to a point located in the center of Hominy Creek; thence with the center of Hominy Creek, the following two calls and distances: South 49 degrees 27 minutes 25 seconds East 117.47 feet; thence South 65 degrees 9 minutes 29 seconds East 204.86 feet; thence leaving the center of Hominy Creek running South 37 degrees 16 minutes 20 seconds West 909.39 feet to a point located in the center of Sardis Road (NC 112); thence with the center of Sardis Road and running with the Robinson property, North 33 degrees 3 minutes 38 seconds East 258.01 feet to the point and place of beginning.

Containing 5.0 acres, more or less, and being a portion of that property as set forth on a map entitled "Survey for Banks–West Investment" as recorded in Plat Book 106, at Page 199, Buncombe County Registry.

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Being the same property as described in that deed recorded in Deed Book 4348, at Page 1612, Buncombe County Registry.

Being the same property conveyed to TD Bank, N.A. in Book 5166, page 949 in the office of the Register of Deeds of Buncombe County, North Carolina.

The above-described property is conveyed subject to the following:

1. Matters that do not render title to the above-described property unmarketable.

2. Rights of tenants, if any.

3. The lien of ad valorem real estate taxes not yet due and payable.

4. Condominium and property owner association assessments, if any, not yet due and payable.

5. Such state of facts as an accurate survey and physical inspection of the above-described property would reveal.

6. Ordinary and customary easements, encumbrances and other restrictions of record.

TO HAVE AND TO HOLD said property and all privileges and appurtenances

thereunto belonging to the party of the second part, said party's heirs, successors, and assigns,

forever, subject to the matters set forth above.

And the party of the first part covenants that except as set forth above said party

has done nothing to affect such title to the aforesaid property as was received by said party, and,

the party of the first part agrees to warrant and defend the title to said property against the lawful

claims of all persons claiming by, through or under said party, but no further, subject however to

the matters set forth above.

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IN TESTIMONY WHEREOF, the party of the first part has caused this

instrument to be executed in such form as to be binding, this the day and year first above written.

TD BANK, N.A.

By: ____________________________________Margaret Broughman, Vice President

STATE OF ________________________ COUNTY OF ______________________

I certify that the following person personally appeared before me this day, acknowledging to me that she signed the foregoing document for the purpose(s) stated therein, in the capacity indicated therein: Margaret Broughman.

Date: _____________________ _____________________________________Signature of Notary Public

_____________________________________Notary's printed or typed name

My commission expires: _________________ (Official Seal)

Notary seal or stamp must appear within this box. ND: 4847-4077-0337, v. 1

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When should I register for an online auction?We recommend that you register as soon as possible. This allows you to become familiar with the online process and makes things easier when the auction opens.

6.2013

Am I obligated to bid once I register?You are under no obligation to bid once you register. Registering for the auction gives you the option to bid, but nothing else.

If you ask for my credit card number during the registration process, do you actually charge my card?Your credit card will be used as part of the authorization process. A temporary hold may be placed on your card, typically in the amount of $1,000, but the amount may vary for some auctions (read the specifi c terms and conditions for your auction on our website or in the Property Information Package for the auction in which you are interested). If you are not the successful bidder, any hold will be removed after the auction, generally within 24 hours. If you are the high bidder, the hold will remain in place until the closing of the transaction.

Is the credit card “hold” a part of my deposit, or part of any additional deposit if I am the high bidder?No. The credit card “hold” is simply part of the process of obtaining authorization to bid when you are registering. You will need to comply separately with any deposit requirements in order to bid, and with any increased deposit requirements if you are the high bidder. You will want to consult the terms and conditions for the auction in which you are

interested to make sure you understand these requirements.

Where do I register?You can register for an online auction through the Tranzon website. Simply go to www.tranzon.com and click “Online Auctions” in the Search area. Find the auction you are interested in and click the green button that says “Login & Register to Bid” and then the green button that says “Register to Bid.” Then, simply follow the instructions to register. After your registration has been approved, you will be notifi ed of your approval either immediately on the registration site, or by email notifi cation, or both. After you have received that notifi cation, you can return to the auction at any time when bidding is open, login, and click “Bid Now” to bid.

When will the auction start? When will bidding end?Bidding on any Tranzon online auction will begin and end at the times clearly shown on the listing page on the Tranzon website and in the Property Information Package for the particular auction. Please be careful to note that all times are expressed in Eastern Time (ET, meaning either Eastern Standard Time or Eastern Daylight Saving Time, depending on the season), so be sure to convert to local time for auctions in the Central, Mountain, or Pacifi c Time Zones.

Where can I fi nd additional information on a property?In our Property Information Package (PIP), which you can download from the Tranzon website. Actually, we require that you download a PIP and assure us that you have done so when you accept the terms and conditions for your auction. To download a PIP for the auction of your choice, start on the listing page for that auction, look under the yellow box for “Documents to download” and click the link for the Property Information Package. You may also download any other documents that might be available for the auction in which you are interested.

Should I wait until the last minute to bid?You can certainly bid whenever you choose during the time that bidding is open. We recommend, however, that you not wait until the last minute to bid, in order to make sure that you do not miss an opportunity to bid because of technical or other issues that might arise. There is no particular advantage to waiting until the very last moment, as all Tranzon auctions feature an anti-sniping extension called auto-extend (see below) that limits a bidder’s ability to be the winning bidder by submitting a bid at the very last moment.

What is the auto-extend feature?If someone bids within the last few minutes of the auction, the timer for the auction will automatically extend. Typically, the time periods are: any bid within the last 2 minutes of the auction will extend the bidding for an additional 2 minutes. These “auto-extend” time periods may change for particular auctions, however, so be sure to check the auto-extend times for your particular auction, which will be clearly noted in the “Terms and Conditions for Timed Online Auctions” for the auction. The extension process will continue happening until no further bids are taken before the closing time, as extended. For example in an auction with a 2 minute auto-extend provision, if bidding is scheduled to close at 11:00 AM and you bid at 10:59 AM, the bidding will automatically be extended for an additional 2 minutes, until 11:02 AM. If someone then bids at 11:00 AM, the bidding will extend again, for 2 additional minutes, until 11:04 AM … and so forth until no bids have been taken before the closing time for bidding, as extended.

What is the maximum bid feature?The maximum bid feature allows you to put into the system your highest bid. The system will then bid on your behalf in the next increment up to but not exceeding that number. If no one bids against you the system will not further raise your bid. Max bidding is kind of a “set it and forget it” bid, but you will want to stay tuned to see if other bidders have exceeded

your maximum.

What happens if two people enter the same maximum bid?If two bidders enter the same number as a max bid, the bidder who entered the max bid fi rst will be considered the current high bidder at the full max bid amount (tie goes to the runner, in this case to the max bidder who was fi rst-in-time to enter the max bid at that amount). For this reason if you plan to enter a maximum bid we recommend you enter it as soon as possible once the bidding starts.

After I have entered a maximum bid, what happens when someone enters a manual bid that is less than my max bid, or at the same level as my max bid?After you have entered a max bid, if another bidder enters a specifi c (manual) bid at an amount less than your max bid, your bid will be advanced to the next increment higher than the other bidder’s manual bid, subject always to not exceeding your max bid amount. If the other bidder enters a manual bid in the same amount as your previously-registered max bid, your max bid will match the manual bid and your max bid will be considered the high bid at that amount (again, tie goes to the runner, in this case the max bidder who had previously entered a max bid at that amount instead of the bidder who entered a manual bid at the same amount).

I won, what happens next?Soon after the bidding closes, and certainly within 24 hours, you will receive a phone call or email from us with instructions on increasing your deposit, scheduling the closing, and other post-auction details.

Online Auctions FAQs

What if I have further questions?Call the Tranzon company conducting the auction in which you are interested. Telephone and email contact information can be found on the Tranzon website at www.tranzon.com. Our auction professionals will be always happy to help with any questions that you might have.

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