10-6-2022 Real Estate Auction Info

Purchase And Sale Agreement

1. Agreement to Sell. For the consideration set forth in this Purchase and Sale Agreement ("Agreement"), and subject to its terms and conditions, Seller agrees to sell and convey to Buyer and Buyer agrees to purchase from Seller approximately 133.66+/- acres located near Comanche Dr./Whispering Pines Dr. in the Indian Mound Area, East Baton Rouge Parish, Louisiana, as more particularly described or shown on Exhibit A ("Property"). The "Effective Date" of this Agreement shall be the last date that this Agreement has been executed by both parties. 2. Consideration. The purchase price for the Property shall be a lump sum of ______________________________________and No/100 Dollars ($___________.00) ("Purchase Price"), payable in cash to Seller at Closing, plus Buyer shall pay a Buyer's Premium of 10% of the Purchase Price. The sale of the Property will be made without any warranty of title, or any other warranty or guarantee of any kind. The Property will be sold subject to all restrictions and servitudes of record ("Permitted Encumbrances"). The Property will be sold "as-is, where is" as to the condition of the Property, which is acknowledged by Buyer. At the Closing an Act of Cash Sale in the form and substance of the attached Exhibit B shall be executed by Buyer and Seller. 3. Deposit. Within three days after the conclusion of the Auction at which Buyer was the high bidder, Buyer will deliver to Henderson Auctions ("Escrow Agent") a deposit in the amount of 10% of the Purchase Price to be placed in its non-interest bearing account ("Deposit"). The Deposit shall be paid by delivery of a cashier’s check to Henderson Auctions. The Deposit shall be applied to the Purchase Price at Closing, or in the event Buyer fails to close on the Property, the Deposit is non-refundable and Seller shall be entitled to retain the Deposit without further obligation to Buyer. The Deposit shall be considered earnest money. In the event any litigation should arise between the parties to this Agreement concerning the Deposit, Buyer and Seller agree to hold Escrow Agent harmless from, and indemnify and defend Escrow Agent for, the payment of any costs or other expenses that may be involved in said litigation (including reasonable attorneys' fees), and from and for any and all loss, damage, liability and expense that may be incurred by Escrow Agent arising out of or in connection with its appointment or duties as Escrow Agent, except for gross negligence, willful misconduct or bad faith of the Escrow Agent. In the event of a dispute, Escrow Agent's only obligation shall be to retain or disburse the Deposit as required by the Louisiana Real Estate Commission rules and regulations, or to pay the Deposit into a court of competent jurisdiction. This provision shall be effective without an obligation of Escrow Agent to execute this Agreement. 4. Closing. The closing on the Property and execution of the Act of Cash Sale ("Closing") shall be held in the City of New Orleans, Parish of Orleans, State of Louisiana and shall be on a date no later than forty-five (45) days after delivery of insurable title to Buyer. Property is being sold absolute and without reserve. Possession of the Property will be provided to Buyer at closing. 5. Closing Expenses and Prorations. Seller shall pay the cost of Seller's attorney. Buyer shall pay all costs of its attorneys and all Closing costs, expenses and associated fees. All prorations of ad valorem taxes, other fees or local government charges shall be prorated through the date of

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