The Winning Bidder’s Bid Deposit will be applied towards the required Earnest Money Deposit.

All Bidder Deposits from bidders other than the Winning Bidder will be released after the conclusion of the Auction.

Property is sold Subject to Approval.  The final acceptance or rejection of any bid will be made at the next regularly scheduled meeting of the Board on March 17, 2020.  Winning Bidder performance is non contingent upon acceptance or rejection.

Purchase Documents will be circulated for electronic signature via DocuSign.  The Winning Bidder will need to be available to access and sign the electronic documents within 2 hours of receipt on the day of the Auction.

Earnest Money Deposit is due to escrow on or before 5:00 p.m. PST on the first business day following the close of the Auction, the Winning Bidder shall deposit with Fidelity a non-refundable Earnest Money Deposit of twenty percent (20%) of the highest bid.

No real estate sales or brokerage commissions or like commissions are or may be due in connection with this transaction.

Buyer may assign this Agreement to an entity wholly owned and controlled by Buyer, Buyer must provide Seller with prior written notice of such assignment, for any such assignment to be effective, at least ten (10) days prior to the Closing Date.

The consummation of the transaction with respect to the conveyance of the Property by Seller to Buyer (the “Closing”) shall occur on the date that is one hundred eighty (180) days after the Opening of Escrow (the “Closing Date”).

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