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This auction will be conducted by Purple Wave Realty, Aaron Mckee, broker

Questions regarding real estate should be directed to Purple Wave Realty at 785.537.5057.

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46 acres +/-, Flush Road, St. George, KS | September 10 Kansas Multiple Property Real Estate Auction
September 10, 4 p.m. CDT

Auction | details

Internet bidding · location · property information · pictures · auction recommendations · broker participation · auction terms

Auction date and time
The auction will be held at 4 p.m. CDT on September 10, 2008.

Property inspection
Please contact Dave Sommers for information on viewing this property at 785.341.9238.

Property location
Southeast corner of Flush Road and John Scott Road, just north of St. George, KS

Internet | bidding

property | location

property information

Property Overview

46 +/- acres located just north of St. George, Kansas at the southeast corner of Flush Road and John Scott Road in Pottawatomie County. Adjacent to a nice, established residential development this property has numerous possibilities and is already zoned for residential use. The land will be offered multi-parcel in two tracts of 23 +/- acres. Bid on the tract of your dreams or purchase the whole acreage!

Questions

If you have any questions about the property or the auction schedule please contact Dave Sommers at 785.341.9238 or email sommers@purplewave.com.

View a copy of the water availability letter from Rural Water District No. 1 in Pottawatomie County, Kansas.

Property | pictures

Southeast corner of Flush Road and John Scott Road

Land Views

Overhead view of tracts

Crossroads

View down Flush Road

Property views

View down John Scott Road

Property views

auction | recommendations

Thoroughly read the property information document and familiarize yourself with the properties offered and the auction terms and conditions. If you will require financing, please see a lender for pre-qualification. If you have questions about the terms, conditions or purchase agreement, contact our office and speak with one of the auction staff.

Attend an open house/preview and inspect or drive-by each property in which you are interested. Establish a range of value for the property and bid within your limits. We do not recommend that you bid on a property that you have not seen. There is not an inspection period after the auction.

The deposit listed in the terms is due upon being declared the winning bidder on auction day. The deposit is non-refundable.

When preparing a sealed bid, if offered, read through the property information package. It may contain title information, income/expense statements, surveys, and general property information. It will also completely detail the sealed bid process.

All information about the property has been provided by the seller. All bidders must verify all information to their own satisfaction prior to bidding.

Immediately upon completion of the auction, winning bidders will be required to execute an Auction Contract. Please be prepared to close the transaction within 30 days.

auction | buyer broker participation

For the properties located at Southeast corner of Flush Road and John Scott Road in St. George, KS, to be auctioned on September 10, 2008, a commission will be paid to any properly licensed real estate broker whose buyer is the successful purchaser of this property and who actually closes and pays the total contract sale price for the property. The commission shall be paid as follows:

Three percent commission will be paid on any pre-sale or written opening bid amount shown on the broker participation form, included in this document or available upon request. A one percent commission will be paid on the amount by which the successful high bid at auction, not including the buyer's premium, exceeds the bid amount indicated on the broker participation form.

If an opening bid is not written on the broker participation form, or the form is not submitted according to the terms listed thereon, then a one percent commission will be paid to the broker on the full amount of the successful high bid.

To earn the buyer broker commission, the participating broker must register his or her bidder by completing the broker participation form in full and must fax, mail, or email it to the auctioneer. The form must be received no later than 24 hours prior to the start of the auction.

Purple Wave Auction, Inc.
825 Levee Dr
Manhattan, KS 66502

auction@purplewave.com
785.539.5356 f

auction | terms

Purple Wave Realty, LLC, and its real estate salespeople and administrative staff (collectively "Auctioneer"), set the following terms of auction ("Auction Terms"). The Auction Terms shall control the auction of the Property (defined below) on September 10, 2008. The Auction Terms may not be modified except in writing or by Auctioneer's announcements on the day of the auction. The Auction Terms shall be incorporated into and become part of the applicable Auction Contract to be executed by the winning bidder(s) and Seller. The Auction Contract and the Auction Terms are intended to be supplemental and complimentary to each other and collectively they govern this auction and purchase and sale of the property. In the event of a conflict or inconsistency between the Auction Contract and the Auction Terms, the Auction Contract shall control.

Agents of Seller Only
Auctioneer represents only Seller in this transaction. Auctioneer does not represent any bidder or buyer in any manner. Auctioneer has an exclusive right to list and market the Property, and all inquiries and transactional matters must be conducted through Auctioneer. The winning bidder(s) will be required to acknowledge receipt of a "Disclosure Regarding Agency Relationships" prior to signing the Auction Contract.

Property Description
The property to be sold is that real property described in the last preliminary report and commitment for title insurance issued by Capital Title Insurance Company, Manhattan, KS, such property commonly known as the southeast corner of Flush Road and John Scott Road, Pottawatomie County, Kansas. Both the Preliminary Report and the Auction Contract are available for inspection on www.purplewave.com or from Auctioneer at any time.

Registering to Bid
To be eligible to bid, all interested parties must be registered. Bidders registering for the first time at the auction site on auction day will be required to (1) provide proof of identity and minimum age of 18 years, and (2) complete a registration form. Bidders who submit Pre-Auction Internet Bids (as defined below) are required to complete Auctioneer's online bidder registration and will also be required to complete the Auction Registration Requirements before the live auction commences. Any bidder desiring to place bids other than in person at the auction site on auction day or via Pre-Auction Internet Bids will be required to complete the Auction Registration Requirements. Nothing in this paragraph shall be deemed to affect or modify the section of these Auction Terms titled "Internet Bids Prior to the Live Auction." Auctioneer may waive some or all of the requirements set forth in this paragraph on a case-by-case basis, but any such waiver shall not impair or restrain Auctioneer's ability to enforce any registration requirements at any other time or with respect to any other bid or bidder.

Internet Bids Prior to the Live Auction
Bids placed prior to the live auction through Auctioneer's website ("Pre-Auction Internet Bids") are binding and may not be withdrawn. Pre-Auction Internet Bids shall be considered absentee bids. All bidders making Pre-Auction Internet Bids irrevocably authorize Auctioneer to implement those bids at the live auction. Auctioneer makes no guarantee that the bidder with the highest Pre-Auction Internet Bid before the live auction will be the ultimate winning bidder. Auctioneer will strive to implement Pre-Auction Internet Bids effectively, but no implementation guarantees or warranties are made.

Buyer's Premium; Purchase Price; Non-refundable Good Faith Deposit
A 10% buyer's premium will be added to the winning bids to determine the final price to be paid by the winning bidder(s) ("Purchase Price"). The Purchase Price shall be paid as follows: A $5,000, non-refundable deposit will be due from buyer immediately after buyer is declared the winner, which shall then be delivered by Auctioneer to Capital Title Insurance Company("Escrow Holder") and which shall be credited against the Purchase Price (the "Initial Deposit Money"); and the balance of the Purchase Price (not including closing costs) shall be deposited on or before 30 days with Escrow Holder.

Property Sold As-Is, Where-Is
All bidders and interested parties shall rely solely on their or their agents' personal inspection of the Property and not on information provided by Auctioneer or Seller. If the property sells as two separate parcels, the buyer(s) will be responsible for survey cost and completion before the 30 day closing window. Failure to inspect or otherwise be fully informed as to the nature, quality, condition, quantity, or size of the Property will not constitute grounds for any claim, adjustment, refund, termination of the Auction Contract or refusal to close the sale. Any information provided about the property has been provided by Seller or is a matter of public record and is believed to be accurate but is not guaranteed; all information should be independently verified by any interested party. By registering to bid or placing a bid, any bidder or interested party acknowledges (1) the Property is to be sold and conveyed to, and accepted by the winning bidder(s), in an "AS IS" condition with all faults, if any, except as otherwise set forth in the Auction Contract; (2) they have investigated and have knowledge of operative or proposed governmental laws and regulations, including, without limitation, zoning, environmental and land use laws and regulations, to which the Property is or may be subject and accepts the Property solely upon the basis of their review and determination of the applicability and effect of such laws and regulations; (3) they are placing a bid and, if they are a winning bidder, they will enter into the Auction Contract on the basis of their own investigation of the physical and environmental conditions of the Property, including subsurface conditions, and they assume the risk that adverse physical and environmental conditions may not have been revealed by their own investigation; (4) Seller, its agents and employees and other persons acting on behalf of Seller, have made no representation or warranty of any kind in connection with any matter relating to the condition, value, fitness, or zoning of the Property upon which the bidder or interested party has relied directly or indirectly for any purpose. Seller has no knowledge of any adverse physical or environmental conditions of the Property, except as Seller has disclosed in writing. By registering to bid or placing a bid, any bidder or interested party (1) waives, releases, and forever discharges Auctioneer, Seller, and their members, directors, officers, managers, employees, agents, successors, assigns, or any other person acting on behalf of Seller, of and from any claims, actions, causes of action, demands, rights, damages, costs, expenses or compensation whatsoever, direct or indirect, known or unknown, foreseen or unforeseen, which the bidder or interested party now has or which may arise in the future on the account of or in any way growing out of or connected with the physical or environmental condition of the Property or any law or regulation applicable thereto, and (2) agrees to indemnify, defend and hold harmless Auctioneer, Seller, and their members, directors, officers, managers, employees, agents, successors, and assigns, from and against any and all loss, damage, liability, claim, cost or expense including, without limitation, attorneys' fees and court costs, resulting from any injury to persons or damage to property, arising from and adverse physical or environmental condition of the Property. The Property is sold subject to all city, county, and state laws, ordinances, and regulations as well as any and all easements, encumbrances, and restrictions of record.

Execution of Auction Contract; No Contingencies
Immediately after Auctioneer declares the winning bidder(s), the winning bidder(s) will execute the Auction Contract without modification or negotiation. The Auction Contract is a cash contract and is not contingent upon the winning bidder(s) obtaining financing, conducting inspections or appraisals, or any other contingency of any kind. The Auction Contract will be cancelled only if Seller is unable to deliver clear title to the Property as described in the Preliminary Report. The Auction Contract is available for review on www.purplewave.com and from Auctioneer at any time.

Taxes, Assessments, Shared Ownership Costs and Closing Costs
The winning bidder(s) will pay all closing fees. The winning bidder(s) will also pay all of the cost of an owner's policy of title insurance, all fees charged by a lender or lenders, mortgage insurance, credit report(s), property legal survey, all recording fees, termite or other pest inspection fees, whole house or lead based paint inspection fees, and fees and expenses charged by the bidder's attorney. Buyer shall have the option of taking over any existing policies of insurance on the Property, if assumable, in which event premiums shall be prorated. All references in the Auction Contract to prorations as of date of closing will be deemed "date of occupancy" if occupancy occurs prior to closing, unless otherwise provided for herein.

Dispute Resolution
Any dispute, claim, counterclaim, controversy, action or grievance arising out of or relating to this auction, or marketing, sale or purchase of the Property or the breach, termination, enforcement, interpretation or validity of the Auction Terms or the Auction Contract, including the determination of the scope or applicability of this arbitration clause, shall, if not resolved within ten days after any aggrieved party gives notice to the others of its desire to arbitrate, be determined by arbitration in Reno, Nevada, before three arbitrators, one of whom shall be a lawyer with at least ten (10) years' experience in legal disputes involving real estate auctions. The arbitration shall be administered by JAMS pursuant to its Streamlined Arbitration Rules and Procedures. Judgment on the Award may be entered in any court having jurisdiction. This clause shall not preclude parties from seeking provisional remedies in aid of arbitration from a court of appropriate jurisdiction. The arbitrators shall, in the Award, allocate all or part of the costs of the arbitration, including the fees of the arbitrator, expert witness fees, arbitration filing fees, and reasonable attorneys' fees of the prevailing party. The arbitration record, award and enforcement proceedings, if any, shall be permanently kept sealed and confidential among the parties, and the parties agree to jointly petition all relevant tribunals for an order sealing all records pertaining to enforcement or enforceability of the arbitration award.

Miscellaneous
The Auction Terms, except as modified by the Auctioneer in writing or during announcements at the live auction and except as modified by the Auction Contract, constitute the complete terms of this auction. They shall be construed in accordance with and governed by the laws of the state of Kansas. No delay or failure by Auctioneer or Seller to exercise any right hereunder, and no partial or single exercise of such right shall constitute a waiver of that or any other right, unless otherwise expressly provided in these Auction Terms. These Auction Terms shall be binding upon and inure to the benefit of all bidders, Seller, Auctioneer, and their respective heirs, legal representatives, and assigns.