SUPPLEMENTAL BIDDER REGISTRATION OPENING BID INCENTIVE, AGENT REPRESENTATION, ESCROW AGENT WIRE INSTRUCTIONS AND KEY TO KEY DONATION Bidder Name: ( Bidder ) To register to participate in a Concierge auction, you must agree to Concierge s Bidder Terms and Conditions, a copy of which may be found at www.conciergeauctions.com. Those Bidder Terms and Conditions are incorporated into this Supplemental Bidder Registration by this reference. Opening Bid Buyer Incentive. If you agree to make an opening bid for a Property which meets the criteria set forth below, and you are the high bidder at the Auction ( Opening Bid ), you may qualify for an Incentive from Seller in the form of a credit against the Purchase Price that would have otherwise paid for the Property, in an amount of the Opening Bid. The Opening Bid Buyer Incentive will be deducted from the purchase price to be paid by the Bidder at closing if the Buyer is the successful purchaser of the Property. To determine whether there is an Opening Bid Buyer Incentive for a particular property and the amount of such Opening Bid Buyer Incentive, please visit the applicable property web page at www.conciergeauctions.com. a. In order to qualify for the Opening Bid Buyer Incentive, your opening bid must be submitted in writing via email to Concierge at register@conciergeauctions.com, fax at 888-317- 9503, or directly to a Concierge representative, for receipt prior to 5:00 p.m. EST on the day before the scheduled commencement of the Auction. Concierge may, in its discretion, accept opening bids after the deadline described above. Concierge may also, in its discretion, offer additional incentives to bidders. b. Bidder understands that Opening Bid Amounts are legally binding and irrevocable. c. Bidder further understands that a Bidder who submits an Opening Bid that qualifies for the Opening Bid Buyer Incentive may be required to complete and sign the residential purchase and sale contract form and any addendum for the sale of the Property provided on the applicable Property web page (the Purchase and Sale Contract ) in the Purchase Price amount of such Opening Bid prior to Auction Day, which Purchase and Sale Contract may be presented to the Seller as an offer to purchase the Property. Buyer hereby acknowledges that he/she has reviewed the Purchase and Sale Contract, agrees to execute the Purchase and Sale Contract upon request, to make any additional earnest money deposits required under the Purchase and Sale Contract, and further understands that the Purchase and Sale Contract will be legally binding when executed by the Seller. An Opening Bid shall be considered the Bidder s initial bid at the Auction. If the same Opening Bid Amount has been submitted by more than one Opening Bidder, the first qualifying form received by Concierge will be given precedence as determined by Concierge. Property(s) Opening Bid Sales Associate/Broker Commission. In some cases, a commission/referral fee will be paid by Seller to a properly registered and licensed real estate Sales Associate or Broker in the jurisdiction in which the Property is located and whose client is the successful Buyer at the Auction and whose client completes the purchase of the Property(s). For more details regarding applicable commissions/referral fees, please visit the applicable Property s web page at www.conciergeauctions.com. Title to the Property(s) must be transferred and the client must pay the Purchase Price for the Property(s) for such commission/referral fee to be paid. In order to be entitled to any commission/referral fee, the Real Estate Broker must:
a. Register his or her client by completing and executing this Registration form in full. b. Submit this executed form via email to Concierge at register@conciergeauctions.com or via fax at 888-317- 9503, or directly to a Concierge representative, for receipt prior to 5:00 p.m. EST on the day before the scheduled commencement of the Auction. Concierge may, in its discretion, extend this deadline. c. Abide by Concierge s Bidder Terms and Conditions. d. The Real Estate Broker s client must close the purchase of the Property in accordance with the Purchase and Sale Contract. e. Comply with all applicable laws and regulations relating to broker duties and commissions. Concierge is not acting in any capacity as an agent or broker for any Bidder. Concierge is not acting in any capacity as an agent or broker for the Seller. Please note the amount or rate of real estate commissions is not fixed by law. They are set by each broker individually and may be negotiable between the client and broker. IF BIDDER IS REPRESENTED BY A SALES ASSOCIATE OR BROKER: Sales Associate/Broker: Email Address: Cellular Phone: Firm or Company: License Number: Work Phone: Broker Number: Company Address: Make a Charitable Donation to the Concierge Key for Key Program: Join Concierge Auctions and Giveback Homes in our life- changing efforts toward building homes for deserving families around the globe. Yes! I would like to make a donation: o Entire House ($5,000) o $2,500 o $1,000 o $500 o Other: $ o I do not wish to donate If you chose to make a donation, you acknowledge and agree that Boston National Title will disburse your donation to Giveback Homes out of your Bidder Deposit without any further action on your part upon closing of the sale of the Property. In the event the auction is cancelled or postponed, your bidder deposit will be returned in full. Please check with your tax adviser to determine the deductibility of your Giveback Homes contribution. ESCROW AGENT WIRE INSTRUCTIONS Must be received prior to 5:00 pm EST on the day before the scheduled commencement of the Auction RETURN WIRE INSTRUCTIONS Boston National Bank Name: 129 W Trade Street, 9 th Floor Charlotte, NC 28202 Phone/Contact: PAY VIA FED WIRE Bank Address To Wells Fargo Bank, N.A. 420 Montgomery San Francisco, CA 94104 ABA Number: 121000248 FOR FURTHER CREDIT OF ABA Number: Boston National Escrow Account Account No.: 5878636728 Account Name: Regarding: AUCTION PROPERTY Attn: Irenelle Redfearn Account #:
Registered bidders are asked to submit a bank letter along with the appropriate registration forms. Below is a sample format acceptable to Concierge Auctions. The Bank Letter or another acceptable form provided by your bank must be provided on bank letterhead. BANK LETTER [DATE] Concierge Auctions, LLC. 405 Lexington Avenue New York, NY 10174 RE: [BIDDER S NAME] Dear Sir/Madam: As of today, [BIDDER NAME] has an available balance of [BALANCE] and has had an average balance of [BALANCE] over the past six months. This letter will serve as notification that [BIDDER S NAME], between bank accounts and investments with [BANK S NAME], has the ability to wire transfer from account number(s) [ACCOUNT NUMBER] to cover up to a purchase of [BID LIMIT]. Further, [BIDDER S NAME] has had no instances of non- payment due to non- sufficient funds within the last year. If further information is needed, please contact this office at [DIRECT LINE OF SIGNING OFFICER], and if I am not available, please contact [ALTERNATIVE BANK CONTACT] at [ALTERNATIVE PHONE NUMBER]. [BANK OFFICER SIGNATURE] [BANK OFFICER NAME] [DIRECT PHONE NUMBER]
129 W. Trade St, 9 th Floor Charlotte, NC 28202 Phone: 704-373-4000 Servicer File No. Property Address: Bidder Deposit Escrow Agreement (Concierge Auctions) Parties to this Bidder Deposit Escrow Agreement ( Agreement ) are Boston National Title Agency, LLC, as servicing agent ( Servicer ), and the bidder identified below ( Bidder ). Servicer will act as Bidder s servicing agent for the purpose of holding funds in reserve for the sole purpose indicated in this Agreement. Bidder Information Registered Bidder's Name: ( Bidder ) Mailing Address: City: State: Zip: Daytime Phone: Mobile Phone: Preferred Email Address: For deposits made by wire, please provide bank information from which the wire will be sent to Servicer: Bank Name: Account Name: Routing Number: Account Number: GENERAL TERMS OF AUCTION DEPOSIT: 1. Bidder agrees to deposit with Servicer the amount indicated on the Bidder Registration provided by Concierge Auctions and incorporated herein by reference ( Bidder Registration), by wire transfer of immediately available funds (the Bid Deposit Amount ). Any Bid Deposit Amount paid by wire transfer must be received by Servicer, and not subject to chargeback or recall, prior to the Auction. Servicer shall have no liability for any Bid Deposit Amount not received in time to ensure collection of funds prior to the Auction. 2. One (1) Agreement and one (1) set of Deposit Instructions may be submitted for multiple assets only if all assets are associated with the same Auction and each asset is individually delineated on the Bidder Registration with an individualized deposit amount for each asset. In the event that one Bid Deposit Amount includes funds for multiple assets, the deposit amount will be divided equally per asset until further notice from Concierge Auctions. 3. Bidder directs Servicer to provide Concierge Auctions with the details of this Agreement and the fact of receipt of Bidder Registration and the Bid Deposit Amount to facilitate Bidder's qualification for participation in the Auction. 4. The Bid Deposit Amount will be held in Servicer s non-interest bearing escrow trust account. 5. If Bidder is not the winning bidder for any asset at the Auction, the entire Bid Deposit Amount (less Charitable Donation to the Concierge Key for Key Program as marked on the Bidder Registration) shall be returned to the Bidder within two (2) business days after the close of the Auction provided the Servicer has all necessary and Boston National Title Agency, LLC Bidder Deposit Escrow Agreement Page 1
correct return wiring instructions for the Bidder. 6. Bidder hereby irrevocably agrees that if Bidder is the winning bidder for any asset at the Auction, Servicer may transfer the Bid Deposit Amount (or portion thereof) associated with such asset to the designated escrow/closing agent immediately following the conclusion of the Auction without further authorization or direction from Bidder. In addition, if Bidder fails to (1) timely execute and return the purchase documentation for such asset as required by the Auction terms and conditions or (2) timely submit the required Earnest Money Deposit for such asset as required by the Auction terms and conditions, then Concierge Auctions may direct Servicer to release to Concierge Auctions (and Concierge Auctions may retain) the Bid Deposit Amount (or applicable portion thereof) without further authorization or direction from Bidder. Please refer to the Bidder Registration and Executed Purchase Contract in regards to matters of this nature. TERMS AND CONDITIONS 1. Rights, Duties and Responsibilities of Servicer. Servicer is acting hereunder only as Bidder s escrow agent for the limited purpose of holding and disbursing funds in accordance with the provisions of this Agreement, and Servicer is not responsible or liable in any manner whatsoever for the sufficiency, correctness, genuineness, or validity of any instrument or for the identity, authority, or rights of any person executing or depositing it. Notwithstanding any provision herein incorporating other instruments by reference, Servicer shall not be charged with notice of the terms of any such instruments, and its duties, responsibilities, and immunities shall be determined solely by reference to this Agreement. 2. Relationship. Bidder understands and agrees that Servicer has no authority, express or implied, to act as agent for Bidder other than for the limited purpose of holding and disbursing funds in accordance with the provisions of this Agreement. Bidder further agrees that Bidder has no right or authority whatsoever to direct or control the actions of Servicer other than Servicer s limited undertakings as explicitly set forth in this Agreement. 3. Dispute. In the event of a disagreement between the Bidder and the Seller, the matter must be taken to Concierge Auctions for remediation. Under circumstances that no agreement is reached between Concierge and the Bidder, in the event of conflicting claims to the funds held pursuant to this Agreement, Bidder expressly agrees that Servicer shall have the right, at its election, to discontinue any acts or services under this Agreement, terminate this Agreement, or commence an interpleader action in the appropriate court requiring the claimants to answer and litigate their several claims and rights among themselves, and Servicer is authorized to deposit with the clerk of the court all documents and funds held in escrow on behalf of Bidder pursuant to this Agreement. In the event such action is filed, Bidder severally agrees to pay all cancellation charges and costs, expenses and reasonable attorneys' fees which Servicer is required to expend or incur in such interpleader action, the amount thereof to be fixed and judgment therefore to be rendered by the court. Upon the filing of an interpleader action, Servicer shall be fully and completely absolved from all further obligation or liability under this Agreement. 4. Severability. In the event any provision of this Agreement is found to be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions shall not in any way be affected or impaired. 5. Facsimile and Electronic Signatures. Facsimile copies of documents, documents executed, scanned and transmitted electronically, and electronic signatures shall be deemed original signatures for purposes of this Agreement and all matters related thereto, with such facsimile, scanned and electronic signatures having the same legal effect as original signatures. 6. Entire Agreement. This Agreement constitutes the entire understanding between Servicer and Bidder. No amendment or modification of this Agreement shall be effective unless set forth in writing and signed by both Boston National Title Agency, LLC Bidder Deposit Escrow Agreement Page 2
Servicer and Bidder. It is understood by the parties signing this Agreement that the Agreement sets forth the complete instructions between Servicer, as escrow agent, and Bidder, as principal, for the escrow transaction embodied in the Agreement. Read this Agreement carefully and do not sign it unless it is acceptable to you. DATE: BIDDER: [Insert Bidder Corporate Name, if applicable, or Individual Signature] By [Signature and Title of Authorized Corporate Officer, if applicable, or Printed Name of Individual] SERVICER: Boston National Title Agency, LLC [Servicer Representative] [Servicer Title] [Date] EACH PARTY HAS READ AND AGREES THAT THE INFORMATION GIVEN IS ACCURATE AND AGREES TO THE TERMS AND CONDITIONS ON ALL PAGES OF THE AGREEMENT. Boston National Title Agency, LLC Bidder Deposit Escrow Agreement Page 3