EXHIBIT “B”
TERMS AND CONDITIONS
Holbrook
Rome, Armuchee Community, Floyd County, GA
Thursday, May 7th at 11:00 AM
These “Terms and Conditions” supersede all other printed and oral statements and will be attached to and become a part of the Real Estate Sales Contract as Exhibit “B”, which will prevail over this document and any other agreement between the Buyer and Seller.
CONDITIONS OF SALE: Dempsey Auction Company (Auctioneer/Broker) has entered into a contract with Lebron Jimmy C. Holbrook, Jr & Marla Maria Holbrook (Seller), TO OFFER AT AUCTION, property located at 4065 Martha Berry Hwy, Rome, Floyd County, GA.
All property is selling “AS IS, WHERE IS” and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to their condition. No warranties, either statutory or otherwise, expressed or implied, including those as to the fitness for a particular use or purpose, habitability, merchantability, or environmental conditions, including, but not limited to, any hazardous substances, hazardous waste, petroleum, or petroleum by-products concerning the property are given by the Auctioneer or Seller. Neither the Auction Company nor the Seller makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction that they have inspected the Property and are not relying on any warranty or representation of the Seller, Auctioneer, or any agent thereof.
We require all bidders to register and obtain a bid number in order to participate in the bidding process. All decisions of the Auctioneer will be final, including the increments of bidding, disputes among bidders, or any other issues that might arise before, during, or after the auction.
The Seller has the right, at their sole discretion, to add or withdraw all or any portion of the property before the auction on Thursday, May 7th at 11:00 am. The property is selling subject to Owner Confirmation, reserving the right to hold ALL offers open until Monday, May 11th at 5:00 pm.
CONVEYANCE: All property will be conveyed by Limited Warranty Deed with title insurance available at the Purchaser’s expense.
SURVEY: The property has not been surveyed for this auction. The Property will be conveyed by a legal description as recorded in the Office of the Clerk of Superior Court, Floyd Co., GA, in Deed Book 2874, page 713-714.
RESERVATIONS & RESTRICTIONS: The real estate will be sold subject to any and all restrictions, public utilities, encroachments, zoning ordinances, easements, Floyd County Regulations, any existing rights of way (if any), and all other matters now of record or shown on the attached plat. Property is selling subject to a Reciprocal Easement Agreement as recorded in the Office of the Clerk of Superior Court of Floyd County, Deed Book 1733, Page 1136.
ONLINE PURCHASERS’ PAYMENT: At the close of the auction, successful bidders will be emailed the contract package to execute and return to Dempsey Auction Co. Successful bidders will deposit 10% of the Contract Price as earnest money in the form of cashier’s check or bank wire transfer with Dempsey Auction Co within 24 hours of receipt of the contract package. The entirety of the remaining balance is due at closing as stipulated in the “Terms and Conditions”. The purchaser shall be responsible for all wire transfer fees. Successful high bidders not executing and returning their contract with earnest money deposit within 24 hours of receipt will be considered in default and subject to an Administrative Fee (as defined below). All Administrative Fees are non-refundable.
DEFAULT: In the event a winning bidder fails to submit the signed “Sales Contract” and deposit earnest money as provided in the pre-stipulated Terms and Conditions, the winning bidder will be charged an administrative fee of $2,500 on the credit card provided at auction registration. Additional default remedies are reserved by Dempsey Auction Company and the Sellers as provided in the Terms and Conditions and the Sales Contract.
PAYMENT: A 10% Buyer’s Premium on Real Estate will be added to the Bid Price on all real estate today to arrive at the final purchase price. The purchaser will be required to sign the Real Estate Sales Contract and pay a non-refundable earnest money deposit equal to 10% of the final purchase price immediately following the Auction. This payment may be made with either a personal or company check and this deposit to be held in a registered, non-interest-bearing escrow account under the control of Dempsey Auction Company. No disbursements will be made from this escrow account until closing or otherwise in accordance with this agreement. In the event the purchaser fails to close under the original contractual terms, the deposit WILL be forfeited and retained by the Seller and Auctioneer as liquidated damages in addition to any other legal remedies available to the Seller and Auctioneer.
CLOSING: Closing shall take place within 30 days of auction, in accordance with the Real Estate Sales Contract, or on a date mutually agreed upon by the Seller and Purchaser(s) in writing. The closing attorney is Mr. Wright Smith with Brinson, Askew and Berry Law Firm, 615 W 1st St, Rome, GA, 706.291.8853. We encourage you to contact Mr. Smith’s office as soon as possible to discuss the closing.
CLOSING COSTS: The Seller will provide a Limited Warranty Deed, unless otherwise disclosed, at closing. If, for some reason, the Seller is unable to convey good and marketable title to the property, unless otherwise noted, the Purchaser’s Earnest money deposit will be returned.
All other costs, including but not limited to Attorney’s Closing Fees, Recording and Handling Fees, Deed Transfer Taxes, Title Search, Title Insurance, Loan Origination Fees, etc., will be at the Purchaser’s expense.
POSSESSION: Purchaser(s) will be granted possession of real estate at closing, on or before Monday, June 8, 2026.
TAXES: The Real Estate property taxes will be prorated to the date of closing.
AGENCY: The Auctioneer is acting as Listing Agent and Selling Agent for the Seller only in this transaction and is to be paid a fee pursuant to a separate written agreement between the seller and the Auctioneer. The Auctioneer is not acting as an agent for the purchaser in this transaction. Any third-party broker is not a sub-agent of the Auctioneer.
BUYER’S NOTE: Dempsey Auction Company and the Seller reserve the right to amend any terms or conditions of the auction by announcing such amendments prior to or during the auction. All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the Seller or the Auctioneer. The Auctioneer makes no warranty or guarantees as to the correctness and completeness of any information. Personal on-site inspection of the property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer, or earnest money after its opening tender. All announcements made from the auction stand take precedence over all other verbal, printed, announced, and/or distributed information.
TECHNICAL SOFTWARE ISSUES: NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR THE AUCTION COMPANY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Dempsey Auction Company provides online bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against Dempsey Auction Company or anyone else if the internet service fails to work correctly. Dempsey Auction Company will not be responsible for any missed bids from any source.
METHOD of SALE: DAC reserves the right to offer the property in any way we see fit to obtain the seller the most money.
Dempsey Auction Company is the “Listing and Selling Agent of the Seller”, and our fiduciary duties of loyalty and faithfulness are owed to the Seller.
NOTE: This auction is being recorded by audio in its entirety for legal purposes.
I have received, read, understand, and agree to the information in these “Terms and Conditions”, which will become a part of the sales contract and will hereafter be Exhibit “B”.
TERMS AND CONDITIONS
Rome, Floyd County, GA
Thursday, May 7, 2026
CONDITIONS OF SALE: Dempsey Auction has entered a contract with the Seller TO OFFER AT AUCTION miscellaneous farm implements, equipment, and inventory.
All personal property is selling “AS IS, WHERE IS” free and clear from all liens and judgments. It is offered for sale and sold “AS IS and WITH ALL FAULTS, IF ANY” without representation or warranty of any kind as to their condition. No warranties, either statutory or otherwise, expressed or implied, including those as to the fitness for a particular use, purpose or merchantability, concerning the property are given by the Auctioneer or Seller. Neither the Auction Company nor the Auctioneer makes any representation concerning the property whatsoever. All bidders acknowledge and agree by their participation in the Auction that they have inspected the Property, have had the opportunity to inspect the Property and have declined, or have not inspected the Property at all, and in any event, are not relying on any warranty or representation of the Seller, Auctioneer, or any agent thereof. No claim will be considered for allowance, adjustment, or rescission of any sale based upon the failure of the property to correspond to any particular standard of expectation.
We require all bidders to register and obtain a bid number in order to participate in the bidding process. As far as possible, the auction will proceed in numerical sequence; however, it shall be at the Auctioneer's option to consolidate or break down lots or quantities offered and sell lots out of the scheduled numerical sequence.
All decisions of the Auctioneer will be final, including the increments of bidding, disputes among bidders, or any other issues that might arise before, during, or after the auction. In the event of a tie bid, the Auctioneer shall have the right to reopen the bidding to determine the highest bidder between the tie bidders only.
The Seller has the right, at their sole discretion, to add or withdraw all or any portion of the property prior to auction on Thursday, May 7th at 11:00 am.
While quantities and descriptions are believed to be correct, neither the Auctioneer nor the Sellers make any guarantees and will not be held responsible for listings, or advertisement inaccuracies or discrepancies. Please inspect the merchandise, as no adjustment will be made for errors in description or quantity estimate. Be sure you bid on the lots you wish to buy - We cannot correct any errors on your part.
Upon the award of bid, title and all risk of loss, damage to or destruction of the purchased item, passes to the Purchaser, and the Auctioneer or Seller shall have no liability whatsoever for any damages to or destruction of any such lots. Dempsey Auction Company is not responsible for equipment left on premises upon completion of the auction. Buyers are advised to remove their purchases as soon as possible or obtain insurance for potential loss.
It shall be the prerogative of the Auctioneer, at his discretion, to have the right to call upon any bidder at any time during the auction sale to pay 25% bid deposit of his purchases during the auction sale. The decision of the Auctioneer shall be final in all matters pertaining to property removal and/or extent of contents of lots sold, etc.
PAYMENT:
ONSITE: All purchases must be paid for in full at the sale’s conclusion on sale day. Purchases must be paid for in cash, debit/credit card (3.5% convenience fee), cashier's check/certified check, or APPROVED personal or company check. Driver’s license will be required for CC purchases.
ONLINE BIDDING: Online bidding is available through our MarkNet Platform. Bidding is subject to Dempsey Auction and MarkNet Alliance Terms, Conditions, and Fees. Unless requested prior to auction day, all purchases must be paid for in full at the sale’s conclusion with the debit/credit card (3.5% convenience fee) on file with your Marknet Alliance online bidding account.
There will be a 10% BUYER’S PREMIUM charged on ALL confirmed sales. 7% Sales tax must be paid on the full purchase price (full purchase price consists of bid price plus buyer’s premium) unless you hold a valid sales tax exemption certificate and execute a sales tax exemption form or have a valid GATE card. Sales tax WILL NOT be collected on any farm items with a valid GATE Card.
CHECK OUT: NO Purchases may be removed until the conclusion of the auction, and NO items may be removed without a PAID receipt. Checkout times will be from the sale’s conclusion until 6:00 pm, and on Friday, May 8th, 8:30 AM-4:30 PM. All other times must be coordinated with the Auctioneer.
BUYER’S NOTE: Dempsey Auction Company and the Seller reserve the right to amend any terms and/or conditions of the auction by announcing such amendments prior to or during the auction. All information published, announced, or contained herein was derived from sources believed to be correct; however, it is not guaranteed by the Seller or the Auctioneer. Neither the Auctioneer nor the Seller makes any warranty or guarantee as to the correctness and completeness of any information. Personal on-site inspection of the property is recommended. The failure of any bidder to inspect, or to be fully informed as to the condition of the property, will not constitute grounds for any claim or demand for adjustment or withdrawal of bid, offer, or earnest money after its opening tender. Any and all announcements made from the auction stand take precedence over all other verbal, printed, announced, and/or distributed information.
