50 ACRES • HICKORY, KY

TERMS & CONDITIONS

PROPERTY: 50 Acres – Graves County, Kentucky

LOCATION: Near State Route 301, Hickory, KY 42051

BIDDING CLOSES: Wednesday, November 4, 2026, at 10:00 AM CST

1. AUCTION FORMAT & RESERVE

This is an Online-Only Reserve Land Auction. All bidding will take place online through Harris Real Estate & Auction. The property is being offered subject to seller confirmation. The seller reserves the right to accept or reject any offers made through the online auction.

2. BUYER'S PREMIUM

A 10% Buyer's Premium will be added to the final bid price and included in the deed transaction sale price.

3. DEPOSIT & PAYMENT TERMS

A 15% down payment is required on the day of the auction, with the remaining balance due within 30 days of the auction.

Earnest money will be deposited into the Harris Auction Escrow Account or into an escrow account maintained by an attorney or title company selected by Harris Real Estate & Auction, in accordance with the purchase contract.

4. PROPERTY CONDITION – AS IS, WHERE IS

The property is being sold AS IS, WHERE IS, without warranties or representations, either expressed or implied, concerning the property's condition.

The seller makes no warranties or representations concerning compliance with applicable building or fire codes.

Buyers are responsible for conducting their own inspections, investigations, and due diligence prior to bidding. Buyers shall rely solely on their own evaluations and inspections of the property.

The buyer is responsible for any required permits, inspections, or repairs prior to closing.

5. PROPERTY INSPECTIONS & DUE DILIGENCE

All prospective bidders are responsible for independently verifying property boundaries, acreage, title, easements, rights-of-way, restrictions, and any other matters affecting the property.

Buyers are encouraged to review all available property documents and complete their investigations prior to placing a bid.

6. SURVEY

The buyer and seller shall split the survey costs equally, with each party responsible for 50% of the survey expense.

7. TITLE & CONVEYANCE

The seller shall convey marketable title to the property by general warranty deed, subject to easements of record, applicable restrictions, and other permitted exceptions as provided in the purchase agreement.

Any defects in title shall be corrected by the seller at the seller's expense, as provided in the auction agreement.

8. CLOSING & POSSESSION

Closing shall take place within 30 days of the auction.

Possession of the property shall be given on or before 30 days from the auction date, in accordance with the purchase agreement.

9. CLOSING COSTS

Seller Responsibilities:

Preparation of the deed

Transfer tax stamps or other applicable documentary stamps

Buyer Responsibilities:

Title examination fees

Title insurance premiums

Recording of the deed

Preparation and recording of any mortgage or financing documents

Attorney closing fees

Other costs necessary for the buyer to satisfy themselves as to the sufficiency of title

Buyers are advised to obtain a title examination and/or purchase title insurance.

10. DEFAULT BY BUYER

In the event the successful buyer fails to complete the purchase after making the earnest money deposit, the deposit shall be distributed between the auctioneer and seller as provided in the auction agreement.

The auctioneer's portion shall not exceed the contracted commission fee.

Harris Real Estate & Auction makes no warranty or guarantee concerning any final bid and shall not be responsible for buyer default.

11. FARM SERVICE AGENCY CONTRACTS

The buyer shall be required to assume any applicable contracts associated with the property through the United States Farm Service Agency, as provided in the auction agreement.

12. PROPERTY RESTRICTIONS & ENCUMBRANCES

The property is subject to applicable easements of record, rights-of-way, covenants, restrictions, and other matters affecting title.

Buyers are responsible for independently investigating all matters concerning the property prior to bidding.

13. BIDDING & PURCHASE AGREEMENT

All bidding shall take place online. The highest bid is subject to seller acceptance.

Upon acceptance of a bid, the successful bidder shall be required to complete the applicable purchase agreement and satisfy the required deposit and closing obligations.

14. ADDITIONAL CONDITIONS

All bidders are encouraged to review the survey, property information, and auction terms prior to bidding.

The terms of the executed purchase agreement shall govern the obligations of the buyer and seller.

HARRIS REAL ESTATE & AUCTION

3855 State Route 45 North

Mayfield, KY 42066

270-247-3253

HarrisAuctions.com

Michael Harris — Principal Broker/Auctioneer