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Auction Details

Saturday August 21st @ 11 Am (approximately)

Golden Isles Speedway

Dirt Track

4/10 of Mile Oval Track

11 Degree Banking in Curves

4 Degree Bank in Straight Away

Grand Stand Seats 3,150 Fans

Pit Area Seats 1,016 Fans

Go Kart Track

Scales

Main Concession Stand (Air Conditioned)

Pit Concession Stand (Air Conditioned)

Public Restrooms (Air Conditioned)

2 Story VIP Booth

FM Transmitter

80 RV Hookups

1 Double Wide 32’ x 80’, 6 Bedroom, 3 Bath

1 Single Wide 16’ x 80”, 3 Bedroom, 2 Bath

Closed Tech Room

1,800 s.f. Main Office

(2) 2,000 Gallon Fuel Tanks

TERMS AND CONDITIONS:

REGISTRATION : All bidders must show a valid driver’s license or state issued identification and sign the registration form stating that you agree with the terms and agreement and will perform your duties as a bidder as such.

OFFERING METHOD : The Golden Isles Speedway containing 56.05 acres will be offered as a whole, for total dollars.

DOWN PAYMENT : 10% down payment on the day of auction for individual tracts or combinations of tracts. The down payment may be made in the form of cashier’s check, personal check, or corporate check.

FINANCING CONTINGENCY FORBEARANCE: YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING. THE PURCHASE AND SALES CONTRACT WILL NOT HAVE A FINANCING CONTEGICY CLAUSE IN IT so be sure you have arranged financing, if needed, and are capable of paying cash at closing.

BUYERS PREMIUM: A 10% buyer’s premium will be added to the high to determine the final contract price.

PURCHASE SALE CONTRACT: All successful bidders will be required to sign a Purchase and Sales Contract at the auction site immediately following the close of the auction. All final bid prices are subject to the Sellers’ acceptance or rejection.

DEED: Seller shall provide Warranty Deed(s). Real estate sold subject to all rights of way, legal highways, leases and easements.

CLOSING: The balance of the purchase price is due at closing, which will take place no later than September 20, 2010. Attorney’s fee will be paid by the purchaser(s). All lender costs shall be paid by the purchaser(s).

POSSESSION: Possession of farmland at closing.

REAL ESTATE TAXES: The 2010 taxes will be prorated on the day of closing. All previously owed taxes have or will be paid by the seller.

ACREAGE: All tract acreage, dimensions, and proposed boundaries are approximate and have been estimated based on current legal descriptions and/or aerial photos.

SURVEY: If a new survey is needed for any tracts the cost shall be paid by the purchaser(s). Any boundary lines that are shared with another new purchaser(s) shall be paid 50/50. Combination purchases will receive a perimeter survey only. If the property is sold in multiple tracts than the seller and auction company will choose the surveyor.

PROPERTY INSPECTION: Each potential Bidder is responsible to conduct, at their own risk, their own independent inspections, investigations, inquiries and due diligence concerning the property. Inspection dates have been scheduled and

will be staffed with auction personnel. Please feel free to inspect the land at any other time at your own risk. Please respect the growing crops on the property.

EASEMENTS: Subject to any and all existing easements.

AGENCY: Maier Auctions and Realty, Inc. and its representatives are exclusive agents of the Seller.

 

DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the Purchase Agreement. The property is being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the property is made by the Seller or the Auction Company. All sketches and dimensions in the brochure are approximate. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is subject to verification by all parties relying on it. No liability for its accuracy, errors, or omissions is assumed by the Seller or the Auction Company. Conduct of the auction and increments of bidding are at the direction and discretion of the Auctioneer. The Seller and Selling Agents reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the Auctioneer are final. ANY ANNOUNCEMENTS MADE THE DAY OF THE SALE TAKE PRECEDENCE OVER PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE.

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