1568 SF Twin Residential/Office Building. This information is deemed reliable, but not guaranteed.

Transcription

1 Large Corner Double Lot Off Street Private Parking Black Horse Pike Frontage 1050 SF Retail Building 1568 SF Twin Residential/Office Building 1472 SF Residential/Office 3BR, 2Bath This information is deemed reliable, but not guaranteed. 6,000 SQF Total Approx Taxes: 11, Approx. Lot 1,2&3= 25,000 SF Block 143 Large Corner Commercial Property on Double Lot. Two Buildings, Three Total Units. The 1050 sq' retail building is currently occupied. The twin residential/office building, one unit tenant occupied, vacant second unit is 1472 square feet. Excellent location off of Route 295 on the Black Horse Pike in Haddon Heights. Large vacant lot is also included. Property measures 100' by 125' deep. Property being sold As Is. A few yards from Exit 28, Route 295 on the corner of High Street and the Black Horse Pike which is a highly traveled two lane Highway offering premium exposure.

2

3 AGREEMENT TO SELL AND TO BUY REAL ESTATE AT AUCTION This is a legally binding contract Oct 15th, 2015 SELLER and BUYER, relying on each others promises and assurances in this Agreement, agree as follows: 1. PROPERTY By this Agreement, there is being sold and bought all of the real estate at Black Horse Pike, Haddon Heights, NJ Also known as Block _143 Lots 1, 2, & 3, lot size( approximately ) less than 1 acre All of the estate means the land and any structure which is on the land and any fixtures which are permanently attached, and all of Seller s rights relating to the land. In the Agreement that which is being sold and bought will be referred to as the PROPERTY. 2. SELLER The SELLER is "M I S I, Lp". The above SELLER is the owner of the PROPERTY and represents and assures the BUYER that there are no other owners, and that no other person, firm, or agency has any interest in the PROPERTY which would require them to sign this agreement and the Deed. 3. BUYER The BUYER is: or his assignee BUYER represents and assures SELLER that he, the BUYER has the ability, financial and otherwise, to properly perform all terms and requirements of this Agreement. 4. PURCHASE PRICE AND MANNER OF PAYMENT The total Purchase Price, to be paid as set forth below, is: ( $ ) Dollars. $ 5, dollars Deposit is required from the Buyer upon signing this Agreement. $ Additional Deposit that must total 10% of the purchase price is due within (3) days of of Agreement by all parties. signing Buyers Premium In addition to the above agreed upon price the Buyer will pay a Ten Percent (10%) Buyers Premium to be paid to Associated Auctioneers, at the time of Settlement.. $( ) Dollars. $( ) Dollars. Total Purchase All Deposit moneys to be held in Escrow until Settlement by Northeast Executive Abstract 479 Old York Rd., Jenkintown PA, Pursuant to the provisions of this Agreement. ( Title Company).

4 MORTGAGE CONTINGENCY 5 This Agreement is not subject to BUYER being able to obtain a Mortgage loan or any other contingency. 6. SETTLEMENT (CLOSING) Place, Date and Time: shall be held on or before 60 days at the hour to be determined, which date is of the essence of this agreement, and unless the date for Settlement is extended in writing by SELLER and BUYER, the failure of either to make Settlement according to the terms of this Agreement, may, at the option of the other be regarded as a breach and default of this Agreement 7. SETTLEMENT COSTS AND MONEY ADJUSTMENTS Seller shall pay for the preparation of the Deed, realty transfer fee, lien discharge fees, if any, and one-half of the title company charges for disbursements and attendance allowed by the Commissioner of Insurance; but all searches, title insurance premium and other conveyancing expenses are to be paid by the Buyer unless the Seller and Buyer provide differently in writing. 8. TITLE: SELLER shall deliver to BUYER a Bargain and Sale Deed with covenants against Grantor s Acts. The title shall be insurable at regular rates and shall be free and clear of encumbrances, including municipal liens and assessments and liability for assessments for improvements now constructed. The title is to be subject to all existing restrictions of record. PROPERTY use or occupancy is : Commercial. 9. SELLER S RIGHT TO PAY CLAIMS SHOWN ON TITLE REPORT SELLER may satisfy any claim, judgment, lien or encumbrances shown on the title report, from the proceeds of the sale, at time of Settlement. 10. ITEMS INCLUDED IN SALE: This sale includes all fixtures permanently attached to the building(s) and specifically includes the following items: 11. CONDITION OF PROPERTY: AS IS 12. BUYER S FAILURE TO PERFORM In the event Buyer shall fail to perform any of Buyer s material covenants, agreements and/or obligations hereunder within the time or times provided herein, after written notice to Buyer and a two (2) business day opportunity to cure, then the Deposit shall be paid to Seller as liquidated damages, and not as a penalty, for such breach as Seller s sole and exclusive remedy, and thereafter Buyer and Seller shall be released from all obligations hereunder, except those which are specifically stated to survive termination of this Agreement, if any, and this Agreement shall terminate and be null and void. 13. SELLER S FAILURE TO PERFORM In the event that Seller shall fail to perform any of Seller s material covenants, agreements and/or obligations hereunder within the time or times provided herein, after written notice to Seller and a two (2) business day opportunity to cure, Buyer may, as its sole and exclusive remedy for such default, terminate this Agreement by written notice to Seller and receive an immediate refund of the Deposit and, upon receipt of such refund by Buyer, neither party shall have any further rights, obligations or liabilities hereunder, except those which are specifically stated to survive termination of this Agreement, if any. 14. POSSESSION AND TENANCIES Possession will be turned over to BUYER on the day of Settlement, free of any tenancies.

5 15. RISK OF LOSS The risk of loss or damage to the property by fire or otherwise, excepting ordinary wear and tear, is the responsibility of SELLER until Settlement. 16. BROKER S COMMISSIONS At the time of conveyance of title, SELLER agrees to pay a real estate broker s commission of: % to. 17. NO RELIANCE ON OTHERS This Agreement is entered into by SELLER and BUYER based on their knowledge of the values of the PROPERTY and their full understanding or the meaning and significance of all the provisions of this Agreement and not on any representations made by either of them to the other, or by any other person. The Realtor/Auctioneer named above, their personnel and associates, have been acting as Transaction Agents only, and are not to be held liable either to SELLER or BUYER for the performance or nonperformance of any of the terms of this Agreement. SELLER and BUYER agree that they are entering into this Agreement without any reliance upon any representations or statements which may have been made by the personnel or members of the said Realtors/Auctioneers. 18. ASSIGNMENT BUYER may assign this Agreement to any other person or firm without the prior written consent of the SELLER and shall not be unreasonably withheld. 19. ENTIRE AGREEMENT This Agreement contains all the understandings of the parties. Any representations not contained in this Agreement are of no effect. 20. SINGULAR AND PLURAL The words SELLER and BUYER and pronouns referring to them, as used in this Agreement shall be regarded as being in the singular or plural, depending on whether there are one or more SELLERS and or more BUYERS in this Agreement. 21. ATTORNEY REVIEW Seller and buyer agree to waive attorney review. This agreement is binding upon signing, and this is a final sale. 22. COMPLETE AGREEMENT This Contract is the entire and only Agreement between the BUYER and the SELLER. This Contract cancels any previous Agreements between the BUYER and the SELLER. This Contract can only be changed by an Agreement in writing signed by both the BUYER and the SELLER. The SELLER states that he has not made any other Contract to sell the PROPERTY to anyone else. No representations have been made by any of the parties, REALTOR(S) AUCTIONEER (S) or their agents other than as set forth in this AGREEMENT. 23. LEAD BASED PAINT DISCLOSURE Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from

6 risk assessment or inspections in the seller s possession and notify buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase. Seller s Disclosure (initial) (a) Presence of Lead-based paint and/or lead-based paint hazards (check one below) Known lead-based paint and/or lead-based paint hazards are present in the housing (explain). Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. (b) Records and reports available to the seller (check one below): Seller has provided the purchaser with all available records and reports pertaining to lead-based paint and/or lead-based paint hazards in the housing (list documents below). Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housing. Purchaser s acknowledgement (initial) (c) Purchaser has received copies of all information listed above. (d) Purchaser has received the pamphlet Protect your family form Lead in Your Home. (e) Purchaser has (check one below): Received a 10-day opportunity (or mutually agreed upon period) to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards; or Waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. 24. MEGAN S LAW STATEMENT: Under New Jersey Law, the county prosecutor determines whether and how to provide notice of the presence of convicted sex offenders in an area. In their professional capacity, real estate licensees are not entitled to notification by the county prosecutor under Megan s Law and are unable to obtain such information for you. Upon closing, the county prosecutor may be contacted for such further information as may be disclosed to you. 25. OFF-SITE CONDITIONS STATEMENT Notice on off-site conditions: Pursuant to the New Residential Construction Off-site Conditions Disclosure Act, PL 1995,c253 the clerks of municipalities in New Jersey maintain lists of off-site condition. Purchasers may examine the lists and are encouraged to independently investigate the area surrounding this property in order to become familiar with any off-site conditions which may affect the value of the property. In cases where a property is located near the border of a municipality, purchasers may wish to also examine the list maintained by the neighboring municipality. 26. Compensation (Buyer s Premium): Seller and Buyer acknowledge that Associated Auctioneers, is the sole, moving efficient and procuring cause of this sale and in consideration of its services in making this sale, Buyer hereby agrees to pay the auctioneer 10% Buyer s Premium (Ten Percent 10% of the Purchase Price) to be paid to Associated Auctioneers,, at Settlement in accordance with the Real Estate Auction Terms and Contract Agreement executed by and between the Buyer and Associated Auctioneers,, at or before the auction.

7 Facsimile documents and signatures sent through fax machine shall be treated as originals. This agreement may be executed in counterpart, in which event delivery of the executed counterparts to each party shall constitute a binding agreement. CONSUMER INFORMATION STATEMENT ACKNOWLEDGMENT By signing below, the sellers and purchasers acknowledge they received the Consumer Information Statement on New Jersey Real Estate Relationships from the brokerage firms involved in this transaction prior to the first showing of the property. IN WITNESS WHEREOF, the parties have signed their names and places their seals on the dates appearing alongside their names. Dated: BUYER Dated: Dated: Dated: BUYER SELLER: "M I S I, Lp" SELLER

8

9 Associated Auctioneers 2400 East Tioga Street Philadelphia, PA , Fax Real Estate Auction Terms and Conditions A. The real property is to be sold at auction to the highest bidder, subject to conformation by the owner B. Bidding. The highest bidder shall be required, at the conclusion of the sale and at the auction site to (1) sign a written contract of sale, (2) to pay a deposit of $ by cash, certified check, cashier s check, or treasurer s check, payable to ASSOCIATED AUCTIONEERS, INC. C. The balance of 10_% of the purchase price will be due at signing of the Agreement of Sale.. D. The balance of the purchase price, together with the net amount of any adjustments and charges shall be paid by certified check, cashiers check or treasurers check made payable to the Title Insurance, to be determined and paid at final settlement. E. Title to said property shall be conveyed by special warranty deed which shall be delivered in recordable form. The purchaser shall pay for the recording of the deed. F. Contract is not subject to an attorney s review and is legally binding upon signature. G. If the purchaser fails to appear at the closing of title, or shall appear and refuse to close at the time and place fixed therefore, by the parties, or shall otherwise fail to comply with any of the Terms and Conditions of the purchase contract, the auctioneer, at his option, may declare the purchaser in default and retain all money paid as liquidated damages. H. In the event that the owner is unable to convey title, the successful bidder shall be entitled only to the return of his deposit and the parties shall be mutually released from all of their obligations under the contract of sale. I. The purchaser will be required to accept the property in its AS IS condition on the date of the auction sale. J. Real estate taxes shall be apportioned at the closing of title. K. Oral statements made at or before the time of the auction and statements made in any sales catalog, sales brochure, or advertisements in connection with the sale, pertaining to location, zoning, taxes, condition, titles, surveys etc. of the property are for information only and should be verified by the purchasers. Purchasers will be bound by any statements or facts disclosed in any current tax maps, zoning maps and ordinances, building restrictions, surveys and other data pertaining to the property. L. Seller has neither employed nor hired any agent, auctioneer, or salesman except foe ASSOCIATED AUCTIONEERS. M. Upon execution of a signed contract, purchaser shall cause liability and property insurance to be in effect on said property. N. This sale is subject to a -10%- Buyers Premium to be paid by the purchaser to Associated Auctioneers at settlement. Purchaser Signature Date Purchaser Signature