COMMERCIAL REAL ESTATE AUCTION — TERMS & CONDITIONS

Property: 7874 E State Road 28, Elwood, IN 46036 (Tipton County)Parcel ID: 80-09-08-400-048.000-007

Online Bidding Opens: Wednesday, August 12, 2026 at 12:00 PM (Noon)Live Auction: Friday, August 14, 2026 at 12:00 PM

Conducted by Burgess Auctions LLC in partnership with Jason Snider, J. Snider Real Estate (RB14045952)

1. Method of Sale

This property will be offered via a combined online/live auction format. Online bidding opens Wednesday, August 12, 2026 at 12:00 PM Noon and continues through the live auction event on Friday, August 14, 2026 at 12:00 PM, at which time bidding will conclude at the live event location. Bidders may participate online through the bidding platform or in person at the live auction.

2. Registration

All bidders must register prior to bidding, either through the online bidding platform or in person at the auction site. Registration may require identification and, at the auctioneer's discretion, proof of funds or a pre-qualification letter. Burgess Auctions LLC reserves the right to refuse registration to any prospective bidder.

3. Buyer's Premium

A 10% Buyer's Premium will be added to the final high bid to determine the total contract sales price. Example: a high bid of $300,000 results in a contract sales price of $330,000.

4. Down Payment

The winning bidder must deliver a non-refundable down payment of $15,000 immediately following the close of bidding on auction day, in the form of certified funds, cashier's check, or wire transfer as directed by the auction company. This down payment will be credited toward the total contract sales price at closing.

5. Purchase Agreement

The winning bidder will be required to execute a Real Estate Purchase Agreement immediately following the auction, incorporating these Terms & Conditions. Failure to execute the purchase agreement or deliver the down payment as required will constitute a default, and the property may be re-offered at the auctioneer's discretion. The defaulting bidder remains liable for any resulting damages, including re-marketing costs and any shortfall in sale price.

6. Closing

Closing shall occur within 30 days of the auction date. Time is of the essence. Closing costs, prorations, and title-related fees will be allocated per standard local practice unless otherwise stated in the purchase agreement. Seller will convey title by warranty deed, free and clear of liens, subject to easements, restrictions, and rights-of-way of record.

7. Property Condition — Sold As-Is, Where-Is

The property is sold AS-IS, WHERE-IS, with all faults, and without any warranty or representation, express or implied, as to condition, fitness for a particular purpose, or compliance with any code or regulation. Buyers are strongly encouraged to conduct all desired due diligence, inspections, and investigations prior to bidding. By bidding, each bidder acknowledges they are relying solely on their own inspection and judgment, and not on any statement made by the auctioneer, seller, or their representatives.

8. Possession

The property currently contains contents belonging to the seller. The seller will have the property fully emptied and cleared prior to closing. Possession will be delivered to the buyer at closing, free of the seller's personal property and debris.

9. Financing

There is no financing contingency. Bidders are responsible for arranging any financing prior to bidding and should be prepared to close within the stated timeframe regardless of financing status.

10. Billboard Rights & Income

Billboard rights located on the parcel are included in the sale and will transfer to the buyer at closing, subject to any existing agreements of record, which will be disclosed in the bidder packet.

11. Broker Participation

Licensed real estate brokers may register prospective buyers in accordance with the terms outlined in the bidder packet. Any broker co-op commission, if applicable, will be paid per the terms disclosed prior to the auction; broker registration forms must be submitted by the deadline stated in the bidder packet to qualify.

12. Announcements

Any announcements made by the auctioneer on auction day, whether in person or via the online platform, take precedence over any previously printed or published material.

13. Auctioneer's Discretion

Burgess Auctions LLC reserves the right to withdraw the property, reject any bid, resolve bidding disputes, and set bid increments at its sole discretion. All decisions of the auctioneer regarding the conduct of the sale are final.

14. Bidder Acknowledgment

By registering to bid, each bidder acknowledges they have read, understood, and agree to be bound by these Terms & Conditions, along with any additional terms disclosed in the full bidder packet.

For full bidder packet, disclosures, and property specifications, contact the Burgess Auctions team.

Integrity in Every Lot. Care in Every Sale.