3/21/17 ONLINE ONLY BIDDING 8 PROPERTIES IN 5 LOCATIONS PIGEON FORGE AND PIGEON FORGE AREA COMMERCIAL AND RESIDENTIAL ABSOLUTE AUCTION STATEMENT OF SALE & ONLINE TERMS

The sale of Sales 1-5 MARCH 21ST ONLINE ONLY AUCTION LOCATED IN SEVIER COUNTY, 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, MAR 15TH, AT 10:30 AM EDT AND WILL BEGIN ENDING ON TUESDAY MAR 21ST 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 $2,499 --- 50.00

$2,500 TO $9,999 --- 100.00

$10,000 TO $24,999 --- $250.00

$25,000 TO $49,999 --- $500.00

$50,000 TO $249,999 --- $1,000.00

$250,000 TO $499,999 -- $5,000.00

$500,000 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 2017 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 March 21st, 2017. 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: 11 AC ON VETERANS BLVD IN 4 TRACTS ZONED C-6 & R-1 CITY OF PIGEON FORGE W/OLD UNLIVABLE DOUBLEWIDE:  All properties to be sold in “as is” condition with no guarantees or warranties expressed or implied.  Sale 1a (Lot 1) zoned R-1 Residential City of Pigeon Forge.  44X24 Doublewide on Lot 1 is in poor condition and is deemed “not livable” at this time.  All personal property inside doublewide and on this property at time of closing will remain with property.  Per Title Opinion, there a 15 foot driveway easement along the western property line that gives access to neighbor’s barn and residence.  The neighbor’s barn also has an easement to a well on Lot 1.

Sales 1b (Lot 2), 1c (Lot 3) and 1d (Lot 4) zoned C-6 Commercial City of Pigeon Forge.  Note:  There is a permanent slope easement along Veterans Blvd to the City of Pigeon Forge.  City Planners said this easement area may be used as long as grading and building plans are approved by the City of Pigeon Forge.  Per City of Pigeon Forge, city sewer is only a few hundred feet away from property.  Sewer can be extended to property at Buyers’ expense.

Sales 1a, 1b, 1c, and 1d will be sold using our Ultimate Choice Bidding system, buyers will have the opportunity to buy individual tracts, groups or the property as a whole throughout the auction.  This feature will be available the final day of bidding, Tuesday, March 21, 2017.

SALE #2: 9 AC CREEKFRONT IDEAL CAMPGROUND SITE ZONED C-6 & R-1 CITY OF PIGEON FORGE W/OLD UNLIVABLE LOG CABIN: All properties to be sold in “as is” condition with no guarantees or warranties expressed or implied.    The old log home is in poor condition and not livable at this time.  Note floodway and flood zone areas as shown on map.  Where the old log home sits is not in the flood zone as shown on map.

Most of this property is zoned C-6 City of Pigeon Forge.  The position of this property on the west side of Mill Creek in the northwest corner of the property is zoned R-1 City of Pigeon Forge.  Note there is a small encroachment of neighbor’s concrete pad and fire pit on the R-1 portion of this property.  Also note sewer line easement as map shows crossing property.

SALE #3: LOT 8 OF MIDDLE CREEK PLAZA SUBDIVISION, WOODED HOME SITE ON PLAZA WAY W/CITY WATER & SEWER, ZONED R-1 CITY OF PIGEON FORGE, Lat/Long 35.790490/-83.542912  All properties to be sold in “as is” condition with no guarantees or warranties expressed or implied.

SALE #4: LOT 22 HOLLY TREE OFF BIRDS CREEK RD ZONED A-1 SEVIER COUNTY, TN Lat/Long 35.782852/-83.462658:  All properties to be sold in “as is” condition with no guarantees or warranties expressed or implied.  Please see restrictions available online. 

SALE #5:  COURT ORDERED DOCKET #14-10-319 MAPLES ESTATE 2422 UPPER MIDDLE CREEK RD SEVIERVILLE TN:  All properties to be sold in “as is” condition with no guarantees or warranties expressed or implied.  Property zoned C-2 Sevier County ON FRONT OF PROPERTY, zoned A-1 Sevier County BACK OF PROPERTY.  Home is in poor condition and is deemed “not livable” at this time.  All personal property inside home and on this property at time of closing will remain with property.  This is a court-ordered sale and court must approve.  Buyer will have 30 days to close after court approval.  If court does not approve sale, all earnest money deposit will be refunded.

10% BUYERS PREMIUM TO BE ADDED TO EACH SUCCESSFUL BID