REAL ESTATE AUCTION TERMS AND CONDITIONS

PROPERTY LOCATION: 5113 Pine Shadow Lane, North Port, FL 34287

Sarasota County Parcel (Account) #: 0991010040

Located in Heron Creek, A Deed Restricted Golf Course Community www.heroncreekgcc.com

Bronze Limited Membership Required: See Documents section for details or call Heron Creek Membership at 941-240-5100.

SALE: The Property will be offered to the public via an Online Auction.

Pre-Approval Required: All Bidders must provide Auctioneer with proof of funds or a letter of credit in the amount up to their planned max bid. All information received is kept confidential.

PROPERTY INSPECTION: All interested bidders are highly encouraged to view the site prior to placing an online bid. Review Inspection Reports in the Auction Documents Section regarding roof tile, ceiling drywall, insulation and/or any other damage due to hurricane Ian in 2022.

BUYERS'S PREMIUM: 7% Buyer's Premium will be added to the high bid.

BROKER PARTICIPATION: A 2.% Buyer’s Broker commission (based on High Bid, not including the Buyers Premium) will be paid to any properly licensed Real Estate Agent/Broker who 1) registers prior to the end of the auction AND 2) represents a winning buyer, which successfully closes on the property. All commissions (including Buyer's Broker Fees) shall be paid out at closing. To qualify for a Buyer's Broker Commission, the real estate licensee must be a active licensed real estate broker/agent with a broker in the state of the property is located, who is not prohibited by law from being paid such commission and has completed the required Buyer's Broker Registration form provided by the auction company.

PROPERTY CONDITION: The information given in this auction listing is subject to inspection and verification by all parties. No liability for its accuracy, errors or omissions is assumed by the Seller, Auctioneer or its Agent(s). Any information contained in the listing and all related materials are subject to the Real Estate Auction Terms and Conditions and Real Estate Sales Agreement. The winning bidder shall approve all terms of the Real Estate Sales Agreement without any amendment upon Seller’s acceptance of a high bid. The property is being offered with Reserve, "As Is, Where Is" with all faults. Bidder's complete and thorough inspection of the property is highly recommended prior to placing bids. This property may be withdrawn or modified without notice at anytime.

AUCTION PROCEDURE: The property shall be sold at Online Auction. The Auctioneer shall at his sole discretion offer the property in any order, format, group or bid increment, which he determines is in the best interest of the Seller.

Winning Bid Deposit: A deposit equal to 10% of the high bid in the form of bank wire or certified funds, within 1 business day of the auction close. The Auctioneer may require a bank statement, a brokerage statement or a financial institution letter showing sufficient funds to close on the purchase up to the amount of your winning bid invoice, within 2 business day following the closing of the auction.

CLOSING AGENT: North Port Title, LLC 941-423-0360 13801 Tamiami Trail North Port, Fl 34287

REAL ESTATE SALES AGREEMENT: Winning bidder is required to execute a Real Estate Sales Agreement within 1 business days following the closing of the auction. BUYER PAYS ALL CLOSING COST including cost of Owners Title Insurance. Seller shall pay state doc stamps on deed transfer.

NO CONTINGENCIES: Financing is not a contingency of the sale, buyer must close with cash or certified funds in US Dollars. The Auctioneer will require a bank statement, a brokerage statement or a financial institution letter showing sufficient funds to close on the purchase up to the amount of your winning bid invoice, within 1 business day following the closing of the auction.

FINANCING: The sale is not contingent on Buyer’s ability to obtain financing. Buyers should arrange for their financing prior to the auction up to the amount that you plan to bid.

CLOSING: Following the date of the auction, closing shall be no later than thirty (30) days. Possession shall be delivered to the buyer at closing. All escrow monies and the closing shall be held by North Port Title, LLC.

TITLE CONVEYANCE: Seller will convey ownership via Warranty Deed.

HOA Dues: As of 4/2023 $1,086.13 per quarter. Buyer Must Submit Application to HOA for Approval.

TAXES: The current year’s Property Taxes & HOA dues shall be prorated between Seller and Buyer at closing based upon the amount of taxes for the prior year. All unpaid taxes for prior years, if any, shall be the responsibility of Seller. Buyer shall assume the payment of taxes for the year of Closing and all subsequent years.

AGENCY: Southeast Re-Marketing Service, LLC is acting as a Transaction Broker.

BROKER/AUCTIONEER: Daniel Platt, Florida License: BK640617 & AU5120

GENERAL TERMS AND CONDITIONS

511Auction.com, 511VacationAuction.com & 511GolfAuction.com are owned and managed by Southeast Re-Marketing Service, LLC (SRS) they are one in the same, as it relates to the Terms & Conditions stated here within;

Auction Eligibility: An individual or entity (Corporation, LLC, Trust, Partnership, Non-Profit, etc) must register and be approved prior to bidding. Individuals must be at least 18 years of age. Entities must have an individual named as the authorized person to act on behalf of the entity. SRS does not approve or disapprove of an entity or its legal status to conduct business. The authorized individual is personally accepting the Terms & Conditions on behalf of the named entity.

Credit Card Required To Register: In order to register to bid on SRS websites, a valid credit card in the bidder’s name is required. Credit card information is for bidder identity verification. If you are bidding on Vacation & Golf auction items, the same card will be used to pay for your winning bid(s). For Specialty auctions bidders will be required to provide up-dated payment information, once they receive their invoice. Card data will be processed thru our credit card processor. Your card information is only retained by the merchant card processor, we do not retain your card data on our auction site/sever. Our Servers use industry standard encryption for all online connections.

Auctioneer’s Discretion: SRS has full discretion to modify the date and time, order and details of the sale of any asset or cancel any auction item for any reason, including but not limited to technical issues, emergencies, and convenience of SRS or the Seller.

Dealers: Licensed Dealers must provide additional documentation, including but not limited too, their dealer license and sales tax exemption numbers, prior to being approved.

Title: The name entered when you register at SRS will be the name that appears on all invoices, bill of sale, title and/or original documents. The Bidder’s email address, mailing address and phone number(s) are used for correspondence between SRS and the registered bidder. It is the bidder's responsibility to ensure their information is accurate and up-dated at all times.

Inspection: The bidder is encouraged to inspect Specialty (personal property) auction item(s) PRIOR to submitting a bid. (pick-up day is NOT inspection day) Auction items will be available for inspection during the auction period, during business hours, at the place and times specified on SRS websites.

Bidding: Your bid is an offer that has been determined independently by you, without restricting competition or consultation with any other bidder(s) on the same item(s) or competitor relating to the price. As a bidder, you are obligated to complete any purchase for which your bid is accepted in accordance with the terms of the item(s) you are bidding on. You may not retract your bid. You may not influence or manipulate the bidding process to compel other bidders to accelerate their bids.

Real Estate: All real estate auctions are subject to “Additional Terms & Conditions” as disclosed at the time of the auction and a Real Estate Purchase & Sales Agreement.

State Sales Tax: SRS is registered with the respective State(s) where the auction item is located and shall collect applicable sales tax at the time of the sale.

Payment: All payments are payable to “Southeast Re-Marketing Service, LLC” for an amount equal to the full amount the auction item(s) Invoice. Cash payments in excess of $10,000.00 will require the Bidder to provide additional documents relating to the transaction, including signing a US Treasury form, as it relates to the auction item(s). Winning bidders of items that required to have the title processed by SRS, shall provide a Limited Power of Attorney, appointing Southeast Re-Marketing Service as their agent, specifically for title transfer. Partial payments are not accepted.

Reserve Price: All auction items are offered with a reserve. If an item has a “Reserve” price that has not received a bid that matches or exceeds the reserve, the item will not sell upon the end of the timed auction. The high bidder may have an opportunity to purchase that item for the “Reserve Price”. If the high bidder does not choose to purchase the item for the “Reserve Price”, the item will be closed and marked “No Sale or Closed”. The seller retains the right to lower the reserve price at their discretion at anytime.

Abandoned Asset Policy: Auctioneer may declare an asset abandoned when a buyer fails to make full payment by the stated payment deadline or when a buyer fails to remove an asset from the auction site by the stated removal deadline. When auctioneer declares an asset abandoned, they may take the following steps in their sole discretion:

Auctioneer may resell the asset in an upcoming auction on the buyer’s behalf for an additional administrative fee of 20% of the original invoice price (minimum $1,000 fee) and account for the resale as follows:
Net proceeds, if any, will be released to the buyer, calculated as the resale bid price collected plus any amounts paid by the buyer against the original invoice, less all administrative and storage fees accrued;
If the resale bid price collected plus amounts paid by the buyer against the original invoice are insufficient to cover the buyer's administrative and storage fees accrued, the deficiency will continue to be owed by the buyer, and Auction Company and the seller will retain all legal remedies to obtain that deficiency;
Net proceeds may be retained and used by SRS to offset any amounts owed by the buyer related to other past or pending purchases or sales of assets by the buyer or a related party.
Where the original invoice price is more than $2,000.00, SRS may allow the seller to retain or dispose of the asset, declare the buyer’s rights to the asset immediately terminated, and retain all payments by buyer as liquidated damages.

Where an asset is declared abandoned under this policy after the buyer has been issued a Certificate of Title, the buyer agrees SRS and its administrative personnel are appointed as buyer’s true and lawful attorney-in-fact to apply for a Certificate of Title and/or Registration upon and/or endorse and transfer title for the asset(s) in issue and, by acknowledging these terms and conditions, the buyer swears or affirms that this appointment is true and correct.

Default: If an item has met the reserve and the winning bidder fails to tender payment on the third business day following the close of the auction, the accepted winning bid shall be deemed null and void effective at 12:01 am Eastern Time on the following day (4th day). If the bidder defaults in making timely payment or is in violation of any other Terms, SRS shall be held harmless from future liabilities as it may relate to the specific item. The bidder’s account will be Flagged and prevented from future bidding on SRS. SRS reserves the right to charge a default fee not to exceed $2,500.00 to cover the cost of the auction.

Errors: If SRS determines there is an error in the auction item invoice total, including but not limited to miscalculated fees, taxes, sale price, etc., the high bidder (buyer) has 3 business days from the time they are notified of the error to pay the difference. SRS reserves the right to collect this amount through the credit card, hold item(s) or any other means necessary. False or missing information and/or documentation, such as claiming tax exempt status and not providing a current permit, will result in an adjustment to the invoice.

Changes: SRS reserves the right to amend these Terms & Condition at any time. All modifications and amendments will be posted on the SRS website. Each Bidder is responsible for reviewing and understanding these modified or amended terms and conditions prior to placing a bid. Changes are effective immediately once posted to the auction site, unless prohibited by law.

Holds or Cancellations: In the event an item is put on hold or cancelled due to legal issues (ie; Bankruptcy) as instructed by the consignor, or any other unforeseen legal issue occurs during an active auction, the item will be put on hold by SRS. All bids will be cancelled or put on hold. When the item has been cleared for sale again, the current auction may be extended or re-run the item at a later date. SRS reserves the right to put on hold or cancel any auction at any time up to the closing time of the auction.

Complying with Applicable Laws & Regulations: Bidder's shall bear the responsibility of researching and complying with all applicable Federal, State, local, and multi-jurisdictional laws, ordinances, and regulations pertaining to the auction registration, licensing, handling, possession, transportation, transfer, export, processing, manufacture, sale, use or disposal of the item(s) offered, prior to bidding.

Privacy & Use of Information: When you register as a bidder of SRS, you provide us with information about you and your business. SRS's primary goal in collecting information is to “know our customer” and facilitate the sale of an item listed on the SRS website(s). You are sharing the information that you provide with SRS only, unless it is specifically stated otherwise. We also provide to bidders the information necessary to facilitate auction transaction between the bidder and SRS. SRS may utilize aggregated bidder statistics that do not identify individual bidders, in order to market our services to prospective partners, advertisers, and other third parties, and for other lawful purposes. SRS may disclose account information in special cases when we have reason to believe that disclosing this information is necessary to identify, contact or bring legal action against someone who may be violating SRS's Terms and Conditions, use of our auction site or may be causing injury to or interference with (either intentionally or unintentionally) SRS's rights or property, other SRS bidders, or anyone else that could be harmed by such activities. SRS may disclose your account information when we believe in good faith that the law requires it and for administrative and other purposes that we deem necessary to maintain, service, and improve our products and services. AT NO TIME WILL SRS SELL OR SHARE A BIDDERS PERSONAL DATA FOR COMMERCIAL PURPOSES.

Governing Law: These Terms & Conditions are governed by the laws of the State of Florida, U.S.A. You hereby consent to the exclusive jurisdiction and venue of courts in Sarasota County, Florida, U.S.A., in all disputes arising out of or relating to the use of SRS. All claimants consent to the personal jurisdiction of those courts. Use of SRS is unauthorized in any jurisdiction that does not give effect to all provisions of these terms and conditions, including without limitation this paragraph. You agree that no joint venture, partnership, employment, or agency relationship exists between you and SRS as a result of these Terms or your use of SRS. SRS's performance as stated in these Terms, is subject to existing laws and legal process, and nothing contained in this outline shall limit SRS's right to comply with governmental, court and law enforcement requests or requirements relating to your use of SRS or information provided to or gathered by SRS with respect to such use. If any part of these Terms are determined to be invalid or unenforceable pursuant to applicable law including, but not limited to, warranty disclaimers and liability limitations set forth above, then the invalid or unenforceable provision will be deemed superseded by a valid, enforceable provision that most closely matches the intent of the original provision and the remainder of these Terms shall continue in effect. Unless otherwise specified herein, these Terms and the terms disclosed on the auction item, constitutes the entire disclosures between the bidder and SRS with respect to SRS and it supersedes all prior communications, whether electronic, oral or written, between the bidder and SRS with respect to SRS. A printed version of these Terms and of any notice given in electronic form shall be admissible in judicial or administrative proceedings based upon or relating to these Terms to the same extent and subject to the same conditions as other business documents and records originally generated and maintained in printed form. In the event a bidder serves or files a lawsuit against Southeast Re-Marketing Service, LLC and/or their related entities and corporate officers, for a matter arising out of the purchase of an item, or other use of their website, in a jurisdiction other than that referenced in the terms and conditions (Sarasota County, FL), the bidder shall be responsible for reasonable attorney fees, filing fees and expenses incurred by Southeast Re-Marketing Service, LLC and it’s affiliates, in the event the case is dismissed, either by Order of the Courts or voluntarily by the Plaintiff.

Tax & Legal Opinions: Employees are prohibited from giving legal and/or tax opinions. Any information supplied by any employee or agent of SRS, whether in-person or a form of communication, is solely as general guidance on the on-line auction services provided by SRS. At no time shall their guidance constitute legal, tax, accounting or professional advice.

No Warranty or Guarantee: SRS provides its products and services “AS-IS" and without any warranty or representation as to the condition, express or implied. All implied warranties of title, merchantability, fitness for a particular purpose are specifically disclaimed, unless otherwise stipulated by law. Inspect auction items closely for make, year, VIN and condition before bidding. SRS does not guarantee any item; rather the buyer is responsible to verify condition and mileage. Years posted are not guaranteed. If a title is marked “Salvage” then the item is offered as such and will not be re-titled in any other form.

Indemnification: SRS is not responsible for any communication or transaction among bidders. As a bidder, you agree to release, indemnify and hold harmless SRS and its officers and employees from any and all claims, demands and damages (whether actual and/or consequential), including reasonable attorney's fees, resulting from or associated in any way with your use of SRS or your violation of these Terms & Conditions.

Right to Independent Action: SRS reserves the right, in its sole discretion, to take any independent action it deems is necessary or desirable to protect the interests of SRS and prevent or mitigate any potential liability or injury to any party which may arise.

No Waiver: In the event SRS fails to enforce any of the Terms here within or respond to a breach by a Bidder or other parties, shall not in any way waive its right to enforce subsequently any terms or conditions here within or to act with respect to similar breaches.

Website Non-Responsive: In the event of a website/internet outage during an item closing time, the items that were not able to take new bids because of the outage, may be extended, once SRS site is back on-line.

Mandatory Shut Down of Non-Essential Businesses: In the event the Governor of the State or any other authority institutes a mandatory shut down of non essential businesses, affected auction items will be "held in place" until businesses are allowed to reopen and new closing date and time can be established.

Fraudulent Activity: Any activity suspected by our management to be fraudulent, will be reported to the appropriate law enforcement authorities. Registering or attempting to register with any name other than your legal name, may be fraud and will be reported. If a bidder attempts to manipulate bids in any manner or collude with others to reduce or enhance bids, will be prosecuted.

Notices: Southeast Re-Marketing Service, LLC PO Box 380921 Murdock, FL 33938

V6 2/2023

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