Chesterfield VA - 9,947± SF Brick Multi-Tenant Office Complex

Transcription

1 Motley s REAL ESTATE AUCTIONS P R O P E R T Y I N F O R M AT I O N PA C K A G E Chesterfield VA - 9,947± SF Brick Multi-Tenant Office Complex 7410 HULL STREET RD., RICHMOND, VA 23235

2 Property Information Real Estate Auction: 7410 Hull Street Road Chesterfield, VA Thursday, June 28, am Page 2 of 39

3 PROPERTY INFORMATION Auction Date: Thurs., June 28, 11 AM Auction Location: 7410 Hull Street Road, Chesterfield, VA Method: Property Information: Absolute/Foreclosure Auction 9,947± SF Multi-Tenant Office Complex on 0.782± AC Hull Street Road Property consists of a 9,947± SF wood framed former medical office building with a brick exterior, built in The 1+ partial 2nd story facility has a flat roof. The building is situated on a 0.782± acre (34,604± SF) level site. Interior features include three separate suites on the first floor each equipped as medical space 2 suites are built out as dental space and 1 suite is regular medical space. Suite 200 has an office located on the second floor. Suite 100-4,605± SF Suite 101-2,267± SF Suite 102-2,240± SF Suite ± SF Ideal for Dental or Medical Use Ample Parking available Monument Signage on Hull Street Road The property is zoned C-5, General Business District. Permitted uses include all types of commercial uses including office, vehicle sales, freight forwarding, motels, and public garages. Highest and best use is General Office, Medical Office, or possibly an alternative service. The building is serviced by public sewer and public water. Zoning: C-5, General Business District Page 3 of 39

4 Deposit Amount: Live bidding: Registered live bidders must present on auction day an initial deposit of $10, Deposit must be cash, certified or cashier s check made payable to Sam Beale, Substitute Trustee. If initial deposit is less than 8% of the high bid, then winning bidder s deposit MUST be increased to 8% of the high bid by cashier s check or wired funds within 3 business days. Online bidding: 48 HOURS PRIOR TO BIDDING: Provide a Master Card, Visa or Discover credit card with open credit of $10, prior to bidding at auction. Agreeing to the terms is authorization to place a hold on a major credit card. Deliver cash, certified or cashier's check for $10, made payable to Sam Beale, Substitute Trustee to Motley s Auction & Realty Group located at 4402 W. Broad Street, Richmond, VA Wire funds to Motley's Auction & Realty Group. Agreeing to the terms is authorization to place a hold on a major credit card. If initial deposit is less than 9% of the high bid, then winning bidder s deposit MUST be increased to 9% of the high bid by cashier s check or wired funds within 3 business days. Buyer s Premium: Live bidding: A Buyer s Premium of eight percent (8%) will be added to the high bid and included in the total selling price paid by the buyer. Online bidding: A Buyer s Premium of nine percent (9%) will be added to the high bid and included in the total selling price paid by the buyer. Closing: Closing is to occur 45 days from the auction date. TIME IS OF THE ESSENCE! Upon settlement, buyer will be provided a Special Warranty deed for the property. Broker Participation: A two percent (2%) Broker Participation Fee will be paid to brokers who represent the winning bidder on the property. Broker participation forms must be received 24 hours prior to auction. Please see Broker Participation Form for full details. Page 4 of 39

5 Tax Assessment Information Real Estate Auction: 7410 Hull Street Road Chesterfield, VA Thursday, June 28, am Page 5 of 39

6 Property Card for Parcel Page 6 of 39 Page 1 of 2 4/29/2012 Print This Window Close this Window Owners Name: GREENBRIAR OFFICE PARK LLC Mailing Address: TH ST NE CHARLOTTESVILLE VA Ownership Type: PRIVATE OWNERSHIP C/O Owners Name: Acreage: Property Class: COMMERCIAL Property Address: 7410 HULL STREET RD Legal Description: N/L ROUTE 360 Magisterial District: MIDLOTHIAN Sale Price: $1,160,000 Sale Date: 8/14/2003 Deed Book: 5308 Deed Page: 74 Plat Book: 112 Plat Page: 14 Will Book: 0 Will Page: 0 Assessment Year: 2012 Land Use Value: $0 Land Value: $224,400 Building(s) Value: $1,024,300 Total Assessment: $1,248,700 Always contact the Chesterfield County Utilities Department (call , utilities@chesterfield.gov, or writechesterfield County Utilities Department; P.O. Box 608; Chesterfield, VA 23832) to verify county water and sewer availability or connections. County Water: Well: Gas: Paved Streets: Storm Drains: Easement %: Connected Not Available Available Available Available County Sewer: Septic: Electricity: Curbing: Connected Not Available Available Available Acres: Flood Plain %: Always contact the Chesterfield County Planning Department (call , planning@chesterfield.gov, or write Planning Dept.; P.O. Box 40; Chesterfield, VA 23832) to verify zoning for any parcel of land. Zoning C5-GENERAL BUS. DISTRICT NO Residential Building(s) Commercial Building(s) 1 of 1 Use: 430 Year Built: 1987 Story Height: 10 Perimeter: 423 Occupancy: MEDICAL OFFICE Foundation: BRICK/BLOCK Class: WOOD FRAME WALLS Elevator: N Sprinkler Area: 0 Roof: TAR/GRAVEL Year Add: 0000 Heat: HEAT PUMP Year Remodel: Floor: 0000 Interior: DRY WALL CARPET Segment Story Ext Finish Dimensions Area

7 Property Card for Parcel Page 7 of 39 Page 2 of 2 4/29/2012 A 1 STORY BRICK 9565 Miscellaneous Improvements Type Construction Exterior Finish Width Depth Total Area OPEN PORCH (DET) BRICK BRICK ENCLOSED PORCH (DET) PAVED AREA ASPHALT BRICK BRICK NOT APPLICABLE NOT APPLICABLE

8 Maps/Plats Real Estate Auction: 7410 Hull Street Road Chesterfield, VA Thursday, June 28, am Page 8 of 39

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13 Zoning Information Real Estate Auction: 7410 Hull Street Road Chesterfield, VA Thursday, June 28, am Page 13 of 39

14 DIVISION 22. C-5 GENERAL BUSINESS DISTRICT Sec Purpose and intent of district. (a) The purpose and intent of the General Business (C-5) District is to provide areas primarily for motor vehicle oriented uses. Sites should be designed to ensure maximum compatibility with, and minimal impact on, existing and future residential development in the area. (b) The C-5 District should generally be located along arterials or near industrial areas. (Code 1978, ) Sec Permitted uses by right. Within any C-5 District, no buildings, structures or premises shall be used, arranged or designed to be used, except for one or more of the following uses: (a) (b) (c) (d) Any permitted uses in the C-3 District. Any permitted uses in the 1-1 District. Commercial automobile parking. Mass transportation. (e) Motor vehicle sales, service, repair and rental, excluding motor vehicle consignment lots. (f) Wholesale trade of any products permitted to be sold at retail in this district. (Code 1978, ; Ord. of , I; Ord. of , 1; Ord. of , 1; Ord.of , 1) Sec Uses permitted with certain restrictions. The following uses shall be permitted in the C-5 District, subject to compliance with the following conditions and other applicable standards of this chapter. If the following restrictions cannot be met, these uses may be allowed by conditional use, subject to the provisions of section19-13: Zoning Information 7410 Hull Street Road Page 14 of 39

15 (a) Unless permitted in the C-5 District, any uses permitted with restrictions in the C-3 District. (b) Travel trailer parks, which were zoned B-T prior to April 12, 1989, and were being operated as such prior to April12, Such uses shall conform to the requirements which were in effect for such districts prior to April12, (c) Auction sales or salvage barns, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (d) Boat sales, service, repair and rental, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (e) Building material sales yards, not including concrete mixing, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (f) Communication towers, provided that such use is not located in the Eastern Midlothian Turnpike Corridor, except as specified in I (i). (g) Contractor's shops and storage yards, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (h) Display sheds, garages, carports and houses sales including "shell" houses sales, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (i) Freight forwarding, packing and crating services, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (j) Farm implements and machinery sales, service, rental and repair establishments, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (k) Manufactured home, modular home and travel trailer sales, service, repair and rental, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (l) Material reclamation receiving centers--aluminum, glass, plastic and paper products only, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (m) Motels, motor courts or tourist homes, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. Zoning Information 7410 Hull Street Road Page 15 of 39

16 (n) Motor vehicle storage/towing lots provided that: (1) Such use was in existence prior to November 25, A change in ownership shall not affect the right to continue such use. (2) Vehicle storage areas shall be screened from view of adjacent properties on which such uses are not permitted or do not exist, from external public roads and from A Districts that are shown on the comprehensive plan as R, R-TH, R-MF or 0 districts. (3) No more than two motor vehicles and/or pieces of machinery stored onsite shall exceed the height of the screening. (o) Public garages, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (p) Public utility service buildings, including facilities for construction or repair, or for the service or storage of utility materials or equipment, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (q) Recreational establishments, commercial--outdoor, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (r) Satellite dishes, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (s) Tractor-trailer service stations, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (t) Utility trailer and truck sales, service, repair and rental, provided that such use is not located in the Eastern Midlothian Turnpike Corridor. (u) Drive-in theaters, provided they are located outside of the boundaries of the Eastern Midlothian Turnpike Corridor. (v) Truck terminals, provided they are located outside of the boundaries of the Eastern Midlothian Turnpike Corridor. (Code 1978, ; Ord. of , 1; Ord. of , I; Ord. of , I) Zoning Information 7410 Hull Street Road Page 16 of 39

17 Sec Accessory uses, buildings and structures. The following accessory uses, buildings and structures shall be permitted in the C-5 District: (a) Accessory uses, buildings and structures as permitted in the C-3 District. (b) Other accessory uses, buildings and structures not otherwise prohibited, customarily accessory and incidental to any permitted use. (Code 1978, ) Sec Conditional uses. The following uses may be allowed by conditional use in the C-5 District, subject to the provisions of section 19-13: (a) Any conditional use allowed in the C-3 District, unless previously permitted in the C-5 District. (b) (c) (d) (e) Adult businesses. Bondsman. Check cashing establishment. Motor vehicle consignment lots. (f) Occult sciences (includes fortune tellers, palmists, astrologists, numerologists, clairvoyant, craniologist, phrenologist, card readers, spiritual readers, tea leaf readers, prophets and psychics). (g) (h) (i) Outdoor flea market. Pawnbroker. Travel trailer parks. (j) Subject to the following requirements, other uses which are not specifically enumerated in this chapter and which are of the same general character as the specifically enumerated uses allowed in this district. Before the planning commission and board of supervisors hear an application pursuant to this subsection, the director of planning shall consider, among other things, the following: the size and proposed configuration of the site; the size, height and exterior architectural appearance of any proposed structure or structures; noise; light; glare; odors; dust; outdoor activities; traffic; parking; signage; and hours of operation. Based on these considerations, he shall determine that the proposed use's operating characteristics are substantially similar to, and its impact on Zoning Information 7410 Hull Street Road Page 17 of 39

18 neighboring properties no greater than, the operating characteristics and impacts of the specifically enumerated uses allowed in this district. (Code 1978, ; Ord. of , 1; Ord. of , 1; Ord. of , 1) Sec Conditional use criteria for adult businesses. (a) Unless the applicant consents to a longer period of review, an application for a conditional use for an adult business must be approved or denied within 90 days of the filing of a complete application. (b) In reviewing the application, the planning commission and board of supervisors may consider the following factors as well as other appropriate land use considerations: (1) The nature of the surrounding area and the extent to which the proposed use might significantly impair its present or future development; (2) The proximity of dwellings, churches, schools, parks or other places of public gatherings; (3) The probable effect of the proposed use on the peace and enjoyment of people in their homes; (4) The limitations of fire and rescue equipment and the means of access for fire and police protection; (5) The preservation of cultural and historical landmarks and trees; (6) The probable effect of noise, vibrations, and glare upon the uses of surrounding properties; (7) The conservation of property values; (8) The contribution, if any, such proposed use would make toward the deterioration of the area and neighborhoods; and (9) The probable effect that alcohol sales or consumption at the adult business would have in heightening the risk of violations of local laws, and any negative secondary effects on surrounding properties and the neighborhood. Zoning Information 7410 Hull Street Road Page 18 of 39

19 (c) If an application for conditional use for an adult business is denied and the applicant desires to appeal the denial, the county will facilitate the applicant's obtaining prompt review of the decision from the circuit court of the county. Unless the applicant agrees to an extension, the county will file a responsive pleading within ten days of service upon the county of an appeal, will file a responsive brief within 15 days of service of the applicant's brief and will agree to any reasonable expedited trial or hearing date. (Ord. of , I) Sec Special exceptions. The following uses may be allowed by special exception in the C-5 District, subject to the provisions of section 19-2I: Any special exception allowed in the C-3 District, unless previously permitted in the C-5 District. (Code I978, ) Sec Required conditions. In addition to the other requirements of this chapter, the conditions specified in this section shall be met in the C-5 District. (a) No goods may be produced for retail sale on the premises, if more than I5 persons are engaged in such production. (b) No outside display of merchandise for sale is permitted unless such display area conforms to the parking setbacks of this district. Further, there shall be no elevated structures to display motor vehicles. (Code I978, ; Ord. ofi2-19-0l, 1) Sec Manufactured homes. A manufactured home used as the principal residence of the owner/operator or employee of a business located on the property will be permitted, subject to obtaining a manufactured home permit from the board of supervisors. (Ord. ofi2-19-0l, I) Zoning Information 7410 Hull Street Road Page 19 of 39

20 Demographic Information Real Estate Auction: 7410 Hull Street Road Chesterfield, VA Thursday, June 28, am Page 20 of 39

21 Central Virginia Regional MLS - Demographics HULL STREET RD, NORTH C... Page 21 of 39 Page 1 of 1 6/6/2012 Central Virginia Regional MLS - IMAPP Demographics HULL STREET RD, NORTH CHESTERFIELD, VA Report Prepared By Chip Jones Demographic Overview For A 5 Mile Radius from Subject Property* Persons 200,940 Families 51,688 Households 78,718 Persons Per Household 2.6 Percent Children % Source: 2010 Census / US Census Bureau House Median Year Built 1971 Per Capita Income $28,252 Average Home Value $189,835 Average Household Income $57,376 Average Rent $959 Source: 2009 American Community Survey, 5 year estimates / US Census Bureau *Includes all data from census blocks completely or partially located inside the noted radius. imapp, Inc, 2012 Information is believed accurate but not guaranteed and should be independently verified.

22 Terms & Conditions Real Estate Auction: 7410 Hull Street Road Chesterfield, VA Thursday, June 28, am Page 22 of 39

23 TERMS AND CONDITIONS FOR THIS LIVE ONSITE AND ONLINE AUCTION Deposit Amount: Live bidding: Registered live bidders must present on auction day an initial deposit of $10, Deposit must be cash, certified or cashier s check made payable to Sam Beale, Substitute Trustee. If initial deposit is less than 8% of the high bid, then winning bidder s deposit MUST be increased to 8% of the high bid by cashier s check or wired funds within 3 business days. Online bidding: 48 HOURS PRIOR TO BIDDING: Provide a Master Card, Visa or Discover credit card with open credit of $10, prior to bidding at auction. Agreeing to the terms is authorization to place a hold on a major credit card. Deliver cash, certified or cashier's check for $10, made payable to Sam Beale, Substitute Trustee to Motley s Auction & Realty Group located at 4402 W. Broad Street, Richmond, VA Wire funds to Motley's Auction & Realty Group. Agreeing to the terms is authorization to place a hold on a major credit card. If initial deposit is less than 9% of the high bid, then winning bidder s deposit MUST be increased to 9% of the high bid by cashier s check or wired funds within 3 business days. Buyer s Premium: Closing: Broker Co-op: Live bidding: A Buyer s Premium of eight percent (8%) will be added to the high bid and included in the total selling price paid by the buyer. Online bidding: A Buyer s Premium of nine percent (9%) will be added to the high bid and included in the total selling price paid by the buyer. Closing is to occur 45 days from the auction date. TIME IS OF THE ESSENCE! Upon settlement, buyer will be provided a Special Warranty deed for the property. A two percent (2%) Broker Participation Fee will be paid to brokers who represent the winning bidder on the property. Broker participation forms must be received 24 hours prior to auction. Please see Broker Participation Form for full details. Page 23 of 39

24 Auctioneer s Authority on Bidding Procedures and Bidding: Bidding Procedures: Bidding: Bidder's Card: Live bidding: Open and verbal. Announcements made on the day of the auction will take precedence over all printed material or oral statements made. (1) Method, order of sale, and bidding increments shall be at the sole discretion of the auctioneer. (2) The auctioneer reserves the right to delete or add additional properties at his discretion. The auctioneer shall have absolute and sole discretion in the order and conduct of the auction. The auctioneer has the authority, at his sole and absolute discretion, to deviate from, change, alter, or modify, the bidding procedures and conduct of the auction at any time including after commencement of the auction. All Bidding is open to the public without regard to race, color, sex, religion, or national origin. As used in these conditions of sale the term 'the final bid' means the highest bid acknowledged by the auctioneer; and the term 'purchase price' means the sum of the final bid and the buyer s premium. The highest bidder acknowledged by the auctioneer shall be the buyer. The auctioneer has the right to reject any bid or raise any bid which, in his opinion, is not commensurate with the value of the property being offered. The auctioneer may advance the bidding at his absolute discretion and, in the event of any dispute between bidders, may determine the successful bidder or re-offer and resell the property in dispute. Should there be any dispute after the sale; record of final sale shall be conclusive. All Bidders are required to have a Bidder's Number to bid. To obtain a Bidder's Number, a registration form must be filled out giving full name, address and phone number. This information must be verified by proper identification. Evidence of correct form of deposit must be made in order to register at the auction. Online bidding: Bid Execution: To obtain a Bidder's Number, a registration form must be filled out giving full name, address and phone number. Credit card approval must be received by auctioneer prior to auction in order to authorize registration. Live bidding: Bids which are submitted to Auctioneer in writing or otherwise left with Auctioneer prior to an auction (Order Bids) for execution at or below a specified price shall be entertained and executed by Auctioneer for the convenience of bidders. Auctioneer shall not be responsible for failing to execute such bids or for errors relating to the execution of such bids. Page 24 of 39

25 Online bidding: Bids are also accepted online. Auctioneer is not responsible for failing to execute bids due to Buyer s technological difficulties. Buyer's Premium: Live bidding: An 8% buyer's premium shall be paid by the Buyer and will be added to the final bid on the property. Example: High bid on property is: $100, Add 8% buyer's premium: + $ 8, Total on Sales Contract: $108, Online bidding: A 9% buyer's premium shall be paid by the Buyer and will be added to the final bid on the property. Earnest Money: Live bidding: Example: High bid on property is: $100, Add 9% buyer's premium: + $ 9, Total on Sales Contract: $109, Registered bidders must present on auction day an initial deposit of $10, Deposit must be cash, certified or cashier s check made payable to Sam Beale, Substitute Trustee. If initial deposit is less than 8% of the high bid, then winning bidder s deposit MUST be increased to 8% of the high bid by cashier s check or wired funds within 3 business days. Online bidding: 48 HOURS PRIOR TO BIDDING: Provide a Master Card, Visa or Discover credit card with open credit of $10, prior to bidding at auction. Agreeing to the terms is authorization to place a hold on a major credit card. Deliver cash, certified or cashier's check for $10, made payable Sam Beale, Substitute Trustee to Motley s Auction & Realty Group located at 4402 W. Broad Street, Richmond, VA Wire funds to Motley's Auction & Realty Group. Agreeing to the terms is authorization to place a hold on a major credit card. If initial deposit is less than 9% of the high bid, then winning bidder s deposit MUST be increased to 9% of the high bid by cashier s check or wired funds within 3 business days. Page 25 of 39

26 Closing: Closing Costs: Title: Financing: The successful buyer must sign all documents and contracts the day of the auction and will be required to make an appointment with the closing agent to pay the balance of the purchase price and receive the deed to the property. All closings must occur on or before forty-five (45) days from the Auction Date, unless otherwise specified in the Property Information Packet or purchase agreement. Buyer acknowledges and agrees that time is of the essence. The deed shall be prepared and acknowledged by Seller at Seller s expense and recorded at the expense of Buyer. The buyer shall pay all title searches, title insurance charges, survey expenses, usual conveyance expenses, and recordation taxes, including the Grantor s and Grantee s Tax. Real estate taxes, water and sewer charges, if any, will be prorated as of the date of closing. Title to the offered property shall pass to the buyer at formal settlement. Sale of the property is not contingent upon the buyer obtaining financing. Conditions of Default: State Laws: If any conditions contained herein are not complied with by the buyer, Auctioneer may, in addition to asserting all remedies available by law, including the right to hold defaulting buyer liable for the purchase price, either, a) cancel the sale, retaining as liquidated damages any payment made by such buyer, b) resell the property without reserve at public auction or privately on seven days' notice to such buyer, or c) take such other action as it deems necessary or appropriate. If Auctioneer resells the property, the original defaulting buyer shall be liable for the payment of any deficiency between the purchase price and all costs and expenses, the expenses of both sales, reasonable attorney's fees, commissions, incidental damages and all other charges due hereunder. In any event, the buyer s earnest money deposit will be retained by Auctioneer as liquidated damages. The respective rights and obligations of the parties with respect to the Conditions of Sale and the conduct of the auction shall be governed and interpreted by the laws of the state in which the auction is held. By bidding at an auction, whether present in person or by agent, written bid, telephone, online or other means, the buyer shall be deemed to have consented to the jurisdiction of the courts of such state and the federal courts sitting in such state. Page 26 of 39

27 Real Estate Brokers/Agents/Auctioneers: Live bidding: A fee equal to a specified commission calculated on the successful purchaser's final bid (not including any Buyer's Premium), will be paid (where allowed by law) to any qualified broker/auctioneer who is duly licensed in the state where the property is located, and whose properly registered client successfully buys and closes on the property. To qualify for a commission, the licensed broker/agent must first register the prospective bidder by mail or fax, (804) on Motley s Broker Participation Acknowledgment Form, with Motley's Auction & Realty Group, 4402 West Broad Street, Richmond, VA Registration letters must be countersigned by the prospect and include the broker's and agent's or auctioneer's license number, identification of the property, any agency disclosure statements, the letter and participation acknowledgment form. All Broker forms, letters and statements must be received no later than 5:00 P.M. one day (24 Hours) prior to the auction. In addition, agents/auctioneers must also attend with and register their prospects at the auction. Online bidding: Inspection: To qualify for a commission, the licensed broker/agent must first register the prospective bidder online and include the broker's and agent's or auctioneer's license number, identification of the property, and any agency disclosure statements. Registration must occur no later than 5:00 P.M. one day (24 Hours) prior to the auction. All property is sold 'As Is, With All Faults.' Descriptions are provided as a service to customers only and do not constitute a warranty, either expressed or implied. Auctioneer disclaims all responsibility for physical condition. All buyers are responsible for prior inspection of properties on which they bid, and by bidding are deemed to have so inspected the property. Placing a bid on the offered property, whether in person, or by agent, by written bid, telephone bid or other means, constitutes an agreement by bidder to these conditions of sale. For residences built prior to 1978, buyer waives the right to a 10-calendar-day opportunity to conduct a risk assessment or inspection for the presence of Lead-Based Paint and/or Lead-Base Paint Hazards. Square footage dimensions and acreage are approximate and should be independently verified prior to bidding. Auctioneer, its agents and subagents, and the sellers assume no liability for errors or omissions in this or any other property listing or advertising or promotional/publicity statements and materials. Although information has been obtained from sources deemed reliable, the auctioneer makes no guarantee as to the accuracy of the information herein contained or in any other property listing or advertising or promotional/publicity statements and materials. Liquidated Damages Clause For Failure to Timely Close: In the event that the Buyer does not close on time, 'Time being of the essence,' and the Seller and Auctioneer agree to an extension of the closing time, the Buyer agrees to pay liquidated damages in the amount of $80.00 for each day closing is delayed beyond the original closing date. The sum of the liquidated damage charge will be deducted from the Buyer's deposit and any deficit of deposit will be paid at closing. The remedy provided by this paragraph shall be in addition to any other remedy available to Seller. Page 27 of 39

28 Definition of Auction Types: A. Auction with Reserve: This method of auction gives the Seller the right to accept or reject a high bid, usually at the time and place of sale. B. Auction Subject to Confirmation: This method of auction is with a Reserve, subject to an existing mortgage, a minimum bid opening or condition of sale such as a court order or court confirmation. Note: In the context of these terms and conditions an 'Absolute above (an amount) with owner confirmation if below' means that if the minimum bid is not achieved, the Seller has the opportunity to accept a lower bid, usually within 48 hours. C. Absolute Auction: This method of auction, property will be sold to the highest bidder. Megan s Law Disclosure: Purchaser(s) should exercise whatever due diligence they deem necessary with respect to information on any sexual offenders registered. Such information may be obtained by contacting your local police department or the Department of State Police. Page 28 of 39

29 Memorandum of Foreclosure Sale Real Estate Auction: 7410 Hull Street Road Chesterfield, VA Thursday, June 28, am Page 29 of 39

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35 Registration Forms Real Estate Auction: 7410 Hull Street Road Chesterfield, VA Thursday, June 28, am Page 35 of 39

36 BIDDER REGISTRATION FORM Property Address Full Name If Purchasing for a Company, Give Company Name Bidder # FOR CURRENT AUCTION INFORMATION: address: Street Address City & State Zip Code Area Code & Telephone: Daytime Home Cell Fax Driver s License # Sales Tax Exemption # How did you hear about our sale? Currently on List Flyer Friend Walk In/Drive By Newspaper Trade Publication Internet Sign Radio Other Mailing List Interests CURRENTLY ON LIST CONSTRUCTION AUTOMOBILES SURPLUS ANTIQUE/ART TRUCKS MARINE EQUIPMENT RESTAURANT HOUSEHOLD MACHINERY UTILITY EQUIPMENT OFFICE SUPPLY COLLECTIBLES WOODWORKING DRILLING EQUIPMENT REAL ESTATE I personally guarantee payment and personally agree to and understand all of the terms and conditions of this auction as set forth in the Bid Package or from the auction stand. Prior to the start of bidding, I have had the opportunity to inspect the Property and all public records related thereto, and to review with an attorney all documents related to the Property, including this Bidder Registration Form. I further understand that I am liable for payment of all real estate purchased on my Bidder Number and that Motley s Auctions, Inc. has the right to pursue the legal means necessary to collect any funds due and that I am personally liable for any costs incurred in the collection of said funds (i.e., expenses of re-auctioning the property, any deficit realized on a re-sale from the original selling price, any commission to Motley s Auctions, Inc., the original sales price, Buyer s Premium, and deposits paid plus any attorney s fees, court costs, and all incidental damages or charges involved). I irrevocably submit to the jurisdiction of the Circuit Court of the County of Henrico, Virginia, for all actions brought by Motley s Auctions, Inc. to collect any sum due under this agreement. I agree that any other dispute arising out of this auction sale shall be resolved solely by final and binding arbitration held in the City of Richmond, Virginia, under the Real Estate Industry Arbitration Rules of the American Arbitration Association. Bidders and purchaser acknowledge that disclosure of the brokerage relationship, if any was made to them by the signing of this form. Motley s Auctions, Inc. and Motley s Auction and Realty Group are agents for the Seller. Payment must be in the form of Cash, Money Order, Cashier s Check or Personal/Company Check, accompanied by Bank Letter of Guarantee, in order to register. Print Name: Sign Name: (Date) If represented by a Broker, Broker must sign below on the day of Auction with Client. Buyer s Agent Buyer s Agent Print Name: Sign Name: (Date) PRINT NAME (S) AS IT IS TO APPEAR ON THE PURCHASE AGREEMENT OF SALE : Page 36 of 39

37 BROKER PARTICIPATION ACKNOWLEDGMENT FORM REMIT TO: Motley s Auction & Realty Group Phone: (804) West Broad Street Fax: (804) Richmond, VA nterry@motleys.com AUCTION DATE AUCTION PROPERTY ADDRESS BUYER NAME BUYER ADDRESS BUYER PHONE # It is understood and agreed that the Broker commission structure will be based on the stated Terms and Conditions of sale of the above referenced auction and that said commission will be based on the successful high bid (the Hammer Price)* on the property. Commission is to be paid only to the licensed Real Estate Broker named herein upon closing, where permitted by law, if the above named Buyer is the high bidder at auction and the subject property is sold to the same buyer. Only the first registration of a prospective bidder received will be honored. Brokers/Real Estate Agents may not represent themselves as a buyer. The intent of this broker co-op arrangement is to encourage Realtors to find potential purchasers for the auction. Persons not originally represented by a Broker who have contacted the auction and requested information will be ineligible for subsequent broker co-op. BROKER PARTICIPATION FORMS MUST BE RECEIVED 24 HOURS PRIOR TO AUCTION! A 2% Broker Participation Fee will be paid to brokers who represent the winning bidder on the property, if broker complies with all the terms and conditions of this agreement and the sale. In the event a commission reduction is required to consummate a sale, Motley s reserves the right to proportionately reduce the commission. Brokers must be present at the auction and assist their Buyers during the auction in which their Buyers are the successful bidders and the preparation of the agreement of sale to receive said commission. No commission will be paid to Brokers on any sale to an entity of which (or any affiliate of which) they are principals, employees or affiliates, or immediate family members. No Broker Acknowledgement Forms will be accepted at the auction site. Broker Name Printed Agent Name Printed Broker Signature Date Agent Signature Date Broker License No. Agent License No. Real Estate Agency Real Estate Agency s Address Phone: Fax: Prospective Buyer(s) Signature Date RECEIVED BY: MOTLEY S AUCTION & REALTY GROUP Motley s Representative: Date: Time: *High bid is defined as purchase price less Buyer s Premium, if applicable, or the Hammer Price. BROKER PARTICIPATION FORMS MUST BE RECEIVED 24 HOURS PRIOR TO AUCTION! Page 37 of 39

38 ATTENTION PROSPECTIVE BIDDERS ALL INFORMATION CONTAINED IN THIS PACKET AND OTHER ADVERTISEMENTS WAS OBTAINED FROM SOURCES BELIEVED TO BE ACCURATE. HOWEVER, NO WARRANTY OR GUARANTEE, EITHER EXPRESSED OR IMPLIED, IS INTENDED OR MADE. ALL PURCHASERS MUST INDEPENDENTLY INVESTIGATE AND CONFIRM ANY INFORMATION OR ASSUMPTIONS ON WHICH ANY BID IS BASED. NEITHER AUCTION COMPANY NOR SELLERS SHALL BE LIABLE FOR ANY ERRORS OR THE CORRECTNESS OF INFORMATION. THESE PROPERTIES ARE OFFERED FOR SALE TO QUALIFIED PURCHASERS WITHOUT REGARD TO PROSPECTIVE PURCHASER S RACE, COLOR, RELIGION, SEX, MARITAL STATUS, OR NATIONAL ORIGIN. ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ANY OTHER INFORMATION OR PRINTED MATTER. PROPERTIES MAY BE ADDED OR DELETED. THE PROPERTIES AND IMPROVEMENTS WILL BE SOLD AS IS WITHOUT ANY REPRESENTATION OR WARRANTY OF ANY KIND INCLUDING ANY REPRESENTATIONS REGARDING ENVIRONMENTAL CONDITIONS AFFECTING THE PROPERTY. THE WARRANTIES EXCLUDE, BUT ARE NOT NECESSARILY LIMITED TO, FREEDOM FROM STRUCTURAL DEFECTS, CONSTRUCTION IN A WORKMANLIKE MANNER, FITNESS FOR HABITATION, AND EACH WARRANT SET FORTH IN SECTION OF THE VIRGINIA CODE. ROOM DIMENSIONS AND SQUARE FOOTAGE ARE APPROXIMATE. ACCURACY IS NOT GUARANTEED. All Information Deemed Reliable But Not Guaranteed Page 38 of 39

39 Motley s Auction & Realty Group 4402 West Broad Street Richmond, VA Phone: Fax: TOLL FREE: