Real Estate Telephon Bidding

REAL ESTATE TELEPHONE BIDDING AUTHORIZATION

This Telephone Bidding Authorization (the "Authorization") is entered into for the purpose of permitting the Bidder identified below to participate in telephone bidding for the sale of the real property described in this form. The Bidder authorizes the Auctioneer or its authorized agent to act on Bidder's behalf in placing telephone bids in accordance with the terms set forth herein. This Authorization creates binding obligations between the parties upon execution.

Parties

Individual Company/Entity Trust

Property Identification

Auction and Telephone Bidding Details

Auction Date:   Start Time:

Bid Increments Preference:

Deposit, Payment and Closing

Wire Transfer Certified Check Escrow to Title Company Other

Contingencies & Inspection

Financing Contingency: Yes No

Disclosures

Lead-Based Paint Disclosure: Yes No

Known Mold or Water Intrusion: Yes No

Prior Material Damage or Repair: Yes No

Authorizations, Representations and Remedies

Appointment and Authority: The Bidder hereby appoints and authorizes the Auctioneer and its designated representatives to place telephone bids on Bidder's behalf for the Property up to the Maximum Authorized Bid specified above. The Auctioneer shall exercise reasonable care in communicating with the Bidder and authorized representative but is not responsible for missed connections, transmission failures, or inability to reach the Bidder. The Auctioneer shall not be required to confirm each bid when multiple competing bidders are present on the telephone or in person.

Binding Offer and Acceptance: If the Auctioneer places a successful bid on the Bidder's behalf that is accepted by the seller or auction terms, the Bidder acknowledges that such acceptance creates a binding purchase agreement subject to the sale terms announced by the Auctioneer and the auction rules. Bidder agrees to execute any purchase documents and tender required deposits as set forth above.

Recording Consent: Bidder consents to the recording of any telephone communications between Bidder and Auctioneer for the purpose of documenting bids, and agrees such recordings may be used as evidence of Bidder's instructions and as admissible proof in any dispute.

Default and Remedies: In the event Bidder fails to timely perform under the resulting purchase contract, Bidder will forfeit any deposits as liquidated damages or, at the seller's election, the seller may pursue specific performance, actual damages, and costs of collection including reasonable attorney fees. Remedies provided are cumulative and do not exclude other remedies at law or equity.

Indemnification: Bidder agrees to indemnify and hold harmless the Auctioneer, its affiliates and agents from and against any claims, losses or liabilities arising from Bidder's breach of this Authorization or Bidder's acts or omissions in the auction process, except to the extent caused by the Auctioneer's gross negligence or willful misconduct.

Governing Law and Entire Agreement: This Authorization and any resulting sale agreement shall be governed by the laws of the state in which the Property is located. This Authorization constitutes the entire agreement between the parties with respect to telephone bidding and supersedes all prior negotiations and understandings. If any provision is held invalid, the remainder shall remain in full force.

Acknowledgment and Certification

The undersigned Bidder certifies that all information provided in this Authorization is true and correct and that the undersigned has the full authority to bind the Bidder (or entity) to the terms herein. Bidder further certifies that funds for required deposits and closing are available or will be available in accordance with the purchase terms.

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