Western Auction Company

PREQUALIFICATION REQUIREMENTS FOR
BIDDING ON THE 2002 MODULINE MODULAR HOME

1. To receive a bidding number to bid on the 2002 Moduline modular home, you must first present a cashiers check or cash in the amount of $5000.00 made out in your name or the same amount in cash only. Should you be the successful bidder, the $5000.00 will be considered the down payment and it is NON-REFUNDABLE UNDER ANY AND ALL CIRCUMSTANCES. All other bidders money will be returned. It is imperative that you have the full purchase price or financing available since as previously stated no refunds will be issued to the successful bidder under any circumstances.

2. The home will be sold subject to "seller confirmation". Upon receiving the highest attainable bid, Western Auction Company will confer with the Timms (owner) to confirm or deny that bid as acceptable. In the event the Timms reject the bid at this time Western Auction Company will give all bidders the opportunity to continue the bidding to an amount acceptable to the Timms. Should there not be an acceptable bid made the home will be declared a "No Sale" and all bidder's deposits will be refunded. Western Auction Company does retain the right to sell the home for a period of 30 days after the date of the auction. All fees will be in place during that time and all offers will be made directly to Western Auction Company.

3. Full payment must be received within 30 calendar days of the auction. Failure to meet this deadline will constitute a "No Sale", and forfeiture of the $5000.00 down payment. The home will then be offered to the next highest bidder or resold. Appropriate taxes and a 5% "Buyers Premium" will be added to the purchase price.

4. "THE HOME MUST BE MOVED". Moving the home and all expenses incurred in said move are the sole responsibility of the successful bidder. The home does sit on private property and you must make arrangements with Steve Timm before moving. You are responsible as the successful bidder for any damage that may occur during said move and that may occur at it's final destination. As the successful bidder, you have 30 days to move the home from it's present location from the date final payment is received.

5. The home is sold 'as is, where is' with no warranties and none implied. We recommend you employ a private inspection company to inspect the home prior to purchase. Although the home was lived in for less than two years, it was not lived in by it's present owners and consequently they have no knowledge of any adverse conditions that may be present in the home at this time.

6. Closing on the home consists of payment in full plus applicable taxes and the 5% buyers premium in effect at the time of the sale. You will receive a clear title to the home at that time, similar to an auto title, and it is your responsibility to transfer said title into your name and make payment to any appropriate government agency fees due at the time of transfer.

7. HOLD HARMLESS: I have read all the above terms and conditions and agree to and understand same. I have the right to ask questions about any terms I do not understand and exercised that right if needed. With my signature below, I agree to these terms and agree to HOLD HARMLESS Steve and John Timm, the current owners, and Western Auction Company as selling agents for the Timms.

You must read and agree to all terms of this prequalification package and sign the package at the auction BEFORE you can receive your bidder number.

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