BY REGISTERING TO BID, BUYER ACCEPTS THE PREMISES "AS-IS WHERE IS", WITHOUT REPRESENTATION OR WARRANTY OF ANY KIND BY SELLER OR PSO INCLUDING ANY REPRESENTATIONS REGARDING ENVIRONMENTAL CONDITIONS AFFECTING THE PREMISES. THE WARRANTIES EXCLUDE, BUT ARE NOT NECESSARILY LIMITED TO OCCUPANCY, VALIDITY OF ANY LEASE, FREEDOM FROM STRUCTURAL DEFECTS, CONSTRUCTION IN A WORKMANLIKE MANNER AND FITNESS FOR HABITATION. DESCRIPTIONS AND PHOTOGRAPHES HAVE BEEN PROVIDED BY THIRD PARTIES AND ARE BELIEVED TO BE ACCURATE BUT NOT GUARNATEED. Binding Auction Agreement The terms and conditions set forth in this agreement apply to the auction of the property identified on the property details page. Your participation in the auction of the property indicates your intent - and results in your agreement - to be bound by the terms and conditions of this agreement. If you do not wish to be bound by the terms and conditions of this agreement, you should not participate in the auction of the property. Do Not Trespass or Disturb the Occupant Until the court orders a transfer of title to the property, the current owner retains all of its rights in the property, including the right to exclude people from the property. Your participation in the auction does not give you any right to enter the property. It is a crime to trespass on the property. You agree that you will not trespass on the property or disturb the homeowner or occupant. Defined Terms A bidder is a prospective buyer who places a bid on the property. A bid is an irrevocable offer to purchase the property at the stated price. The buyer's premium is the amount added to the highest bid to determine the contract price. The buyer's premium is calculated as a percentage of the highest bid. For example, if the highest bid is $100,000 and the buyer's premium is 10%, the buyer's premium is $10,000 and the contract price is $110,000. The buyer's premium is due and payable to the PSO. The contract price is the price of the property, payable by the highest bidder. The contract price is the sum of the highest bid and the buyer's premium. The highest bidder is the bidder who submits the highest bid at the auction of the property and satisfies the terms and conditions of the auction. The Private Selling Officer determines the highest bidder. The property details page is the page of the website that identifies the property up for auction. It is the page where bids are placed for that property. The website is the one located at www.gryphonusa.com. Public Auction; Not a Private Sale A court in a foreclosure case has appointed a Private Selling Officer ("PSO") to conduct an auction of the property. The auction is not a private sale of real estate. As a result, you will not receive disclosure and other documents customarily used in a private sale of real estate, such as Agency Disclosures, Property Disclosures and Lead Based Paint Disclosures. Property Offered "As-Is" and "Where-Is" / No Contingencies The property is offered and being sold "as is" and "where is," with all faults, defects, and limitations, whether apparent or not. If you are the highest bidder, you must accept the property in whatever state and condition the property is in, with all defects, both patent and latent, and with all faults, whether known or unknown, existing at the time or arising in the future. All repairs, inspections, surveys, or permits related to the property are at your own risk and expense. None of the contingencies that might apply in a private sale of real estate apply to the auction of the property. If you are the highest bidder, your obligation to complete your purchase of the property will be subject only to the court's confirmation of the sale. You will not be able to make the sale subject to a financing contingency, an inspection contingency, an occupancy contingency, or any other contingency. Interior Access The interior of the property may not be able to be inspected by you or your appraiser, lender, or real estate agent. We will make all efforts to arrange interior showings however the owner/tenant has no obligation to allow access. Registering to Bid If you want to bid on a property, you must register in accordance with the website's registration requirements. When registering, you may not provide false information or impersonate, imitate or pretend to be someone else. The PSO may require proof that your registration information is accurate. If you do not provide such proof, the PSO may terminate or suspend your use of the website. You may not bid on any property if you have been temporarily or permanently suspended from using the website. The PSO may reject the use of any password, username, or email address for any reason. You may register to bid only if you are able to form a legally binding contract to purchase real property under Ohio law. You cannot bid if you are a minor or incompetent or do not have the mental capacity or authority to enter into a contract to purchase real property. If you are registering an entity, your registration constitutes a representation and warranty that you have the mental capacity to enter into a contract to purchase real property and actual authority to legally bind the entity to a contract to purchase real property. If you do not have this authority, you agree that you will be personally liable for your conduct. If any of your registration information changes, you must update it promptly. Your failure to do so is at your own risk. You will not seek to hold anyone else liable for your failure to keep your registration information up to date. Safeguarding Your Registration Information You are solely responsible for safeguarding your registration information and for updating and maintaining it. You are responsible for all actions taken with the use of your registration information. You may not authorize or permit anyone else to access or use your registration information, and you may not access or use anyone else's registration information. You may not sub-license, transfer, sell, rent, or assign your registration information to any third party. Any attempt to do so will be null and void. Bidding on Property If you place a bid on a property, your bid is an indication of your intent to purchase the property for the amount of your bid plus the buyer's premium. If you are the highest bidder and the court confirms the sale, you will be obligated to complete your purchase of the property for the contract price in accordance with orders from the court, Ohio law, instructions from the PSO, and the terms of this agreement. Paying the Sale Deposit If you are the highest bidder, you must pay the required sale deposit within twenty-four (24) hours of the end of the auction. You must make your payment to the title company identified on the property details page and in the email sent to the highest bidder. Your payment must be made by wire transfer. You will receive wire transfer instructions. No other method of payment is permitted. If you fail to pay the sale deposit, you will be in default of your obligation to purchase the property. Your default may subject you to contempt of court proceedings or other legal consequences, including potential liability for damages. If the website shows an incorrect sale deposit, the PSO may correct the error and require you to pay the correct amount of the sale deposit. The Buyer's Premium If you are the highest bidder and a 10% buyer's premium applies to your purchase, the amount of the buyer's premium will be added to your bid to determine the contract price. You agree that you will pay the contract price to complete your purchase of the property and that the buyer's premium will be paid to the PSO. Extension of Auction Period If bidding occurs in the final moments of the auction, the end of the auction will be extended automatically for successive fixed periods of time (the "Anti-Snipe Time"). The auction will end after no bidding occurs during the Anti-Snipe Time. Auction Might be Cancelled or Postponed / Sale Might be Vacated Because the property is subject to a court proceeding, the auction might be cancelled or postponed at any time or the court might vacate the sale after the auction takes place or decide to not confirm the sale. If you are the highest bidder, your purchase of the property might be delayed indefinitely or you might not be able to complete your purchase of the property. You will bear all risk of loss in these circumstances and will not seek to hold anyone liable for any costs, expenses, or losses you may incur. The Highest Bidder The PSO has sole and absolute discretion to determine the highest bidder, subject to the court's review of the results of the auction and the court's confirmation of the sale. If you are the highest bidder, you will have to complete and sign a Purchaser Information Form and return it to the PSO within twenty-four (24) hours of the end of the auction. Paying the Balance Due If you are the highest bidder, you must pay the following amounts by the payment deadline: (1) the balance of the contract price, (2) county transfer taxes, (3) county deed recording fees, and (4) any costs, allowances, and taxes that the contract price is insufficient to cover. The payment deadline is thirty (30) days after the court's confirmation of the sale. You must make your payment to the title company identified on the property details page and in the email sent to the highest bidder. Your payment must be made by wire transfer. You will receive wire transfer instructions. No other method of payment is permitted. Your wire transfer must reference the Auction ID No. and the property address. The Deed The PSO will convey title to the property via a Private Selling Officer's deed in accordance with section 5302.31 of the Ohio Revised Code. No warranties of title are made in connection with the conveyance of title. If you wish to take title in the name of an entity, the PSO may require documentation or information relevant to an entity's purchase of real property, such as entity formation documents and resolutions authorizing the transaction, all of which must be complete and accurate at the time it is provided. Title Insurance If the property is subject to section 2329.191 of the Ohio Revised Code, the highest bidder is covered by title insurance applicable to foreclosure actions. Section 2329.191 of the Ohio Revised Code requires the plaintiff in a foreclosure action relating to residential property to file a Preliminary Judicial Report (a "PJR") with the court and to update it with a Final Judicial Report. The PJR is a guarantee of the record title only and is made for the use and benefit of the guaranteed party, as defined in the PJR, and the purchaser at the judicial sale, subject to all of the exclusions, exceptions, conditions, and stipulations set forth in the PJR. A PJR does not provide the same coverage that an owner's title insurance policy provides. An owner's policy provides greater coverage. If you wish to obtain an owner's policy, you may contact the title company identified on the property details page for additional information. Any additional title insurance coverage will be solely at your expense. Consequences of Defaulting on Your Purchase If you default on your obligation to purchase the property by the payment deadline, then: (1) you agree to forfeit or pay the amount of the sale deposit to the plaintiff or judgment creditor who requested the sale of the property and further agree that such an amount is reasonable to cover the costs of your default, (2) you hereby consent to the personal jurisdiction of the court that ordered the sale of the property and agree to the issuance of an order from that court vacating the sale of the property, (3) you agree to pay damages to the plaintiff or the judgment creditor who requested the sale of the property in an amount equal to the difference between your contract price and the contract price at a subsequent sale of the property. You also acknowledge that, in addition to the foregoing, you may be held in contempt of court under section 2329.30 of the Ohio Revised Code and that your eligibility to use the website may be suspended or terminated. These consequences of default are in addition to any other remedies provided by law; you may be subject to other consequences not described in this agreement. Disclaimers Regarding Information The PSO has not made, does not make, and specifically negates and disclaims any representations, warranties, promises, covenants, agreements or guarantees of any kind or character whatsoever, whether express or implied, oral or written, past, present or future, of, as to, concerning or with respect to the property, including whether any information is complete, accurate, reliable, current, or error-free. All descriptions of properties on the website are based solely on visual observations or information available from public records and are provided solely for identification purposes. Occupancy Status No representations are made about whether the property is occupied. If you are the highest bidder, all eviction proceedings and other duties and responsibilities of a real property owner and/or landlord, including compliance with federal, state or local laws, ordinances and regulations, will be your sole responsibility and obligation. Jurisdiction of the Court The property and the auction process are subject to the jurisdiction of a court (the "Court"), usually the Court of Common Pleas in the county in which the property is located. Your rights and obligations are governed and interpreted by the laws of the State of Ohio, other applicable law, orders from the Court (collectively, "Applicable Law"), and the terms and conditions of this agreement. If there is conflict between this agreement and Applicable Law, the conflict will be resolved in favor of Applicable Law. This agreement shall be construed, and the legal relations between the parties determined, in accordance with the laws of the State of Ohio, without regard to its conflicts of law rules. Any allegation, controversy or claim arising from or relating to an auction of property or brought in connection with this agreement shall be brought in the Court or, if the Court no longer has jurisdiction over the Property, then in the Franklin County, Ohio, Court of Common Pleas or the United States District Court located in Franklin County, Ohio. You hereby irrevocably consent to the exclusive jurisdiction and venue of these courts. You agree to submit to the personal jurisdiction of these courts, and you agree not to assert the doctrine of forum non conveniens in any action in these courts. Amendments to this Agreement The PSO reserves the right to amend the terms of this agreement at any time. All amendments become effective upon posting to the website. If you object to any amendment, your sole recourse will be to stop using the website and/or participating in an auction on the website. Your continued use of the website and/or participation in any auction on the website constitutes your acknowledgement of the amendment and agreement to be bound by the terms and conditions of this agreement, as amended.