The Property is to be Sold upon the following Terms/Conditions: TERMS: REAL ESTATE: Property to be sold at ABSOLUTE PUBLIC AUCTION, WITHOUT RESERVE (the definition of ABSOLUTE AUCTION as defined by the Kentucky Board of Auctioneers has been provided to the sellers, and is attached hereto by reference). Purchaser(s) of real estate to place a deposit equal to 10 percent of purchase price down with contract immediately following sale (down payment deposit check to be made payable to Craig A. Stanfield Real Estate & Auction Escrow. No two-party checks will be accepted; prospective purchasers who are not Kentucky residents to pay down payment by means of cash, certified funds, money order, or cashier’s check), non-refundable, with balance due in full on or before DECEMBER 30, 2008 (with regards to closing date, “Time is of the Essence” as sellers desire to close within 2008 tax year in order to save on capital gains taxes as said taxes will reportedly increase in Tax Year 2009), with possession to transfer with deed at closing. Terms of purchase are Cash to Seller: NO CONTINGENCIES OF ANY KIND PERMITTED. Property is to transfer utilizing existing legal description (no survey to be provided by the sellers). Purchasers may have possession of the property with deed at closing. Sellers to maintain insurance on property though date of closing (including liability; auctioneer is not responsible for accidents); however successful purchaser will have an insurable interest in the property as of date of sale and is encouraged to obtain insurance immediately upon sale. Year 2008 real estate taxes to be paid by the seller. Prospective purchasers are encouraged/advised to inspect the property thoroughly prior to sale as REAL ESTATE SOLD “AS IS” WITHOUT WARRANTY WHATSOEVER -- INCLUDING WITH REGARD TO FITNESS OR MERCHANTABILITY/ MARKETABILITY FOR ANY DESIRED/IMPLIED/SPECIFIC USE -- EITHER EXPRESSED OR IMPLIED. Purchased subject to zoning, easements, highway right of way, local ordinances, restrictions, and any facts that might be disclosed by an accurate survey. HOME CONSTRUCTED PRIOR TO 1978: Thus Lead-Based Paint could potentially be in evidence. Prospective purchasers concerned about possible existence of lead-based paint are encouraged to have premises inspected prior to auction, as purchaser will be required to waive any rights to any inspections or contingencies as a condition of purchase. Likewise, purchasers must have performed any and all due diligence inspections of the property prior to purchase, at purchaser’s sole expense, including but not limited to: Whole House Inspection, Wood-Boring Insect Inspection, Radon Gas Inspection, survey, etc. Contact agent/auctioneer for arranging testing. Agent/auctioneer not responsible for accidents. Announcements made date of sale take precedence over printed matter. NOTE: Any returned checks shall be subject to the following: 1). A $50 returned check fee (plus expenses of collection); 2). A 2% penalty in amount of check; and 3). Plus shall be subject to interest to extent that law permits until funds are made good; and 4). Bad checks will be turned over for prosecution to proper authorities.

AUCTION CONDUCTED BY

CRAIG A. STANFIELD REAL ESTATE & AUCTION SERVICES

2126 W. KY 10 (Office located KY 10-KY 57 intersection) * TOLLESBORO, KY 41189

PHONE: (606) 798-2009, MOBILE: (606) 301-3350, FAX: (606) 798-2115

CRAIG A. STANFIELD, REAL ESTATE BROKER & AUCTIONEER

2003 KY STATE CHAMPION AUCTIONEER, MEMBER NATIONAL AUCTIONEERS ASSOCIATION AND KENTUCKY AUCTIONEERS ASSOCIATION

ERIC DOWNS, APPRENTICE AUCTIONEER (606) 564-5085

EQUAL HOUSING OPPORTUNITY BROKER & AUCTION FIRM. EQUAL HOUSING: IT’S THE LAW!!!