TERMS AND CONDITIONS OF NATIONALBID.COM AND ARBITRATION AGREEMENT NOTICE TO BIDDERS: BEFORE YOU WILL BE PERMITTED TO BID ON PROPERTIES, YOU MUST AGREE THAT YOU HAVE READ AND UNDERSTAND AND AGREE TO ABIDE BY THE FOLLOWING TERMS AND CONDITIONS OF NATIONALBID.COM AND THE ARBITRATION AGREEMENT (COLLECTIVELY REFERRED TO AS THE “TERMS AND CONDITIONS”). AT THE END OF THE AREA OF THE “CREATE MY ACCOUNT” PAGE WHERE YOU PROVIDE ALL OF THE NECESSARY INFORMATION TO PERMIT YOU TO REGISTER TO BID, THERE IS A BLOCK THAT IS FOLLOWED BY THIS SENTENCE: “I HAVE READ AND ACCEPT THE TERMS AND CONDITIONS.” YOU CAN ACCESS THE TERMS AND CONDITIONS BY CLICKING ON THE WORDS “TERMS AND CONDITIONS.” AFTER YOU HAVE READ THE TERMS AND CONDITIONS, YOU CAN COMPLETE THE REGISTRATION PROCESS BY CLICKING IN THE BLOCK. CHANGES IN TERMS AND CONDITIONS: Any changes in these Terms and Conditions will be effective and enforceable within twenty (20) days after being posted on the website of NationalBid.com (“NationalBid”). NO SALES ARE FINAL UNTIL THE SELLER APPROVES THE PRICE OFFERED BY A BIDDER. For each of the properties offered for sale, NationalBid has included a specific date and time for bidding to begin and a specific date and time for bidding to end. NationalBid has also included a “Value” for the property provided by the Seller. NationalBid makes no warranty nor guarantee as to the accuracy of information provided by the Seller. Only the Seller has the right and ability to approve and accept a Purchase and Sale Agreement submitted by successful Bidders or Brokers representing successful Bidders. The Seller has the sole and absolute right to reject any bid. HOW DO YOU REGISTER TO BID: You do not have to be registered to bid to be able to view all of the properties offered for sale. However, you must be registered to bid on or before twenty-four (24) hours prior to your being permitted to bid on any of the properties offered for sale. AUTOMATIC BID: The “Automatic Bid” feature allows you to automatically raise your bid every time you are outbid. You determine the bid increment. You also determine the maximum bid. No automatic bid can be placed in the final sixty (60) minutes of the auction. INFORMATION ABOUT THE PROPERTY: The Seller of each property offered for sale on the website of NationalBid has provided all of the information about the properties. All information used in the advertising and promotion of the on-line auction sales was provided by the Seller. You can view that information by clicking on the photograph of the property. ALL PROPERTY IS SOLD “AS IS, WHERE IS” AND “WITH ALL FAULTS, IF ANY.” RESTRICTIONS ON BIDDING: NationalBid reserves the right to deny any person the right to bid. You may be denied the right to bid indefinitely if you make fraudulent bids on this site or default on any purchase and do not follow and comply with the NationalBid Terms and Conditions. You may not register to bid unless you have the right to enter into a legal and binding contract, for example, minors cannot enter into legal and binding contracts. If any Bidder misrepresents his or her ability to enter into a legal and binding contract or presents a fraudulent bid or defaults on a purchase contract, NationalBid at its sole and absolute discretion reserves the right to terminate the account of the Bidder. YOU WILL NOT BE PERMITTED TO BID UNLESS YOU AGREE THAT YOU HAVE READ AND ACCEPT THE TERMS AND CONDITIONS BY CLICKING ON THE BLOCK ON THE “CREATE MY ACCOUNT” SCREEN THAT IS FOLLOWED BY THIS SENTENCE: “I HAVE READ AND ACCEPT THE TERMS AND CONDITIONS.” FEES: You will not be required to pay a fee to bid. However, a Transaction Fee that is a percentage of the High Bid Price of the successful Bidder will be added to the contract price included in the Purchase and Sale Agreement signed by the successful Bidder (the “Buyer”) and the Seller. That Transaction Fee which is also referred to as a “Buyer’s Premium” will be paid to NationalBid by the Buyer at the closing of the sale. Click on the photograph of the property on which you want to bid to find the Transaction Fee/Buyer’s Premium for that property. NationalBid reserves the right to change the terms in regard to fees in its sole and absolute discretion. THE TERMS OF THE PURCHASE AND SALE AGREEMENT CONTROL: The terms of the Purchase and Sale Agreement control and supersede any and all information included on this website. NATIONALBID IS NOT ACTING EITHER AS A REAL ESTATE AGENT OR AS A REAL ESTATE BROKER: NationalBid is not a real estate agent or broker and provides only a website for on-line bidding on real estate. NationalBid does not act as an agent or broker for either the Seller or any Bidder or Buyer. NationalBid holds no monies in escrow and all escrowed funds will be paid to the closing agent designated by the Seller. Any Real Estate agent identified as the listing agent for the Seller is an agent of the Seller, not NationalBid. CHANGES IN THE TIME FOR BIDDING: BIDDER UNDERSTANDS AND AGREES THAT NATIONALBID AT ITS SOLE AND ABSOLUTE DISCRETION RESERVES THE RIGHT TO EXTEND THE TIME FOR BIDDING. INSPECTION OF THE PROPERTY: BUYER(S) REPRESENT AND WARRANT THAT BUYER(S) AND BUYER(S)’ EXPERTS HAVE THOROUGHLY AND CAREFULLY INSPECTED THE PROPERTY AND AGREE TO PURCHASE SAME “AS IS, WHERE IS” AND “WITH ALL FAULTS, IF ANY.” NOTICE TO WINNING BIDDER (the “BUYER”): At the close of bidding, notice will be provided to the winning bidder (the “Buyer”). No notice will be sent to losing bidders. The Buyer will promptly receive a Purchase and Sale Agreement for the property and other information regarding the closing details. The Buyer must return the executed Purchase and Sale Agreement and other required information within five to ten days after receipt of those documents and information. The local real estate broker who represents the Seller will coordinate all closings. The earnest money deposit required by the Seller in the Purchase and Sale Agreement will be non-refundable if the Buyer fails to close. Included in the purchase price will be a Transaction Fee that will be a percentage of the winning high bid price. That transaction fee will be paid to NationalBid at closing. Any changes in the closing details will be sent to the winning bidder by either the local real estate broker or the closing agent. DISPUTE RESOLUTION--AGREEMENT FOR ARBITRATION Bidder (s), NationalBid, and the Seller agree that any disputes, controversy, or claims between the Bidder(s), NationalBid and/or the Seller that arise out of or relate in any way to on line bidding or the purchase of any property via on-line bidding on the website of NationalBid and any events occurring before or after the auction shall be settled by arbitration and shall be administered in accordance with Title 9 of the United States Code (United States Arbitration Act) and the Commercial Arbitration Rules of the American Arbitration Association except as to such rules provided for herein. The parties agree to be bound exclusively by final and binding arbitration as described herein. Judgment on the award rendered by the Arbitrator(s) may be entered in any Court having jurisdiction thereof. Bidder(s), “NAG” and/or the Seller shall upon the written request of the other party, promptly provide the other party with copies of documents on which the producing party may rely in support of or in opposition to any claim or defense. Any dispute regarding discovery, or the relevance or scope thereof, shall be determined by the Arbitrator(s) which determination shall be conclusive. All discovery shall be completed on or before ninety (90) days after the appointment of the Arbitrator(s). At the request of a party, the Arbitrator(s) shall have the discretion to order examination by deposition of witnesses to the extent the Arbitrator(s) deems such additional discovery relevant and appropriate. However, depositions shall be limited to a maximum of three (3) per party and shall be held within forty-five (45) days of the date of the Order of the Arbitrator approving the taking of depositions. Each deposition shall be limited to a maximum of six hours duration. All objections are reserved for the arbitration hearing except for objections based on privilege and proprietary or confidential information. The arbitrator(s) will have no authority to award damages not measured by the prevailing party’s actual damages. Bidder(s), NationalBid, and the Seller shall each bear their own costs and expenses (including attorneys’ fees) and an equal share of the arbitrators’ fees and the administrative fees of arbitration. The award of the arbitrator(s) shall be accompanied by a reasoned opinion, signed by the arbitrator(s) and shall include a statement regarding the reasons for the disposition of any claim including findings of fact and a breakdown as to specific claims. Except as may be required by law, neither a party nor an arbitrator(s) may disclose the existence, content, or results of any arbitration hereunder without the prior written consent of all parties. The place of arbitration shall be Birmingham, AL. Bidder(s), NationalBid, and Seller agree to keep such dispute resolution and arbitration proceedings confidential except as necessary to effectuate such dispute resolution and arbitration. Bidder(s), NationalBid and the Seller agree and acknowledge that the business of NationalBid and this on line auction sale involve interstate commerce. Bidder(s), NationalBid, and the Seller agree that this Agreement to Arbitrate is an integral part of the agreement of NationalBid and the Seller to allow Bidder(s) to participate in the bidding during any on-line auction conducted by NationalBid. Bidder(s), NationalBid and the Seller further agree that there is adequate consideration between the parties for this Dispute Resolution--Agreement to Arbitrate. As a condition of being permitted to bid, Bidder(s) hereby agree to arbitrate all disputes with NationalBid, Seller(s), and any Broker representing the Seller(s). For the purposes of selecting an Arbitrator, if Seller and Broker are parties to an arbitration proceeding, they shall jointly select only one Arbitrator. For the purposes of selecting an Arbitrator, Bidder(s) and NationalBid may each select one Arbitrator. If only two Arbitrators are selected by the parties to the dispute, the two Arbitrators selected will then choose a third Arbitrator. The decision of two of the three Arbitrators selected will resolve the dispute. If three Arbitrators are selected by the parties to the dispute, the decision of two of the three Arbitrators selected will resolve the dispute. BIDDER(S) UNDERSTAND AND AGREE THAT IF ANY PROVISION OF THE TERMS AND CONDITIONS OF NATIONALBID.COM AND/OR THE DISPUTE RESOLUTION - AGREEMENT FOR ARBITRATION, OR ANY PORTION THEREOF, IS HELD TO BE INVALID AND UNENFORCEABLE, THEN THE REMAINDER OF THIS AGREEMENT SHALL NEVERTHELESS REMAIN IN FULL FORCE AND EFFECT.