Full Conditions of Sale for 6158 Northgap Drive

Do not trespass or disturb the homeowner or occupant! It is a crime to trespass on the Property.

All properties are sold “as-is, where-is.” There are no contingencies.

Agreement with Private Selling Officer

I, Richard Kruse, a Private Selling Officer under Ohio law, have been issued an order of sale by the Court to conduct a public auction of the property identified on the Property Details Page of the Website (the "Property"). These Auction Terms and Conditions (this "Auction Agreement”) set forth important terms and conditions governing the auction of the Property (the "Auction Services"). Your use of the Auction Services indicates your intent and results in your agreement to be bound by the terms and conditions of this Auction Agreement. If you do not wish to be bound by the terms and conditions of this Auction Agreement, you must stop using the Auction Services.

Private Selling Officer LLC – Independent Company

I am providing the Auction Services through www.privatesellingofficer.com (the "Website”). The Website is owned by Private Selling Officer LLC. Private Selling Officer LLC is an independent company; it has its own Terms of Use that are in addition to this Auction Agreement. These Terms of Use are also binding on you. They can be found here.

Allodial Title LLC – Assisting Private Selling Officer

In accordance with section 2329.152 of the Ohio Revised Code, I have hired a title agency, Allodial Title LLC, to assist me with the collection and disbursement of funds and the recording of deeds. If you are the Highest Bidder, your sale deposit payment will be made to Allodial Title LLC and you will wire the balance of the Purchase Price to Allodial Title LLC. More details on this are provided below. You are not in privity of contract with Allodial Title LLC, and you agree that you are not a third-party beneficiary of my contract with Allodial Title LLC.

Amendments to this Auction Agreement

I reserve the right to amend the terms of this Auction Agreement at any time in my sole discretion by posting the amendment via a link on the Website. All amendments become effective upon posting. I may also notify you of any amendment via e-mail. If you object to any amendment, your sole recourse will be to stop using the Auction Services. Your continued use of the Auction Services constitutes your acknowledgement of the amendment and agreement to be bound by the terms and conditions of this Auction Agreement, as amended. You agree that you are solely responsible for keeping apprised of any amendments to this Auction Agreement.

Jurisdiction of the Court

The Property and the auction process are subject to the exclusive jurisdiction of a court, usually the Court of Common Pleas in the county in which the Property is located (the "Court"). The name of the Court, the case number, and other information about the case are shown on the Property Details Page.

Your rights and obligations are governed and interpreted by the laws of the State of Ohio, other applicable law, orders from the Court (collectively, "Applicable Law"), and the terms and conditions of this Auction Agreement. If there is conflict between this Auction Agreement and Applicable Law, you agree that the conflict will be resolved in favor of Applicable Law.

This Auction Agreement shall be construed, and the legal relations between the parties determined, in accordance with the laws of the State of Ohio, without regard to its conflicts of law rules. Any allegation, controversy or claim arising from or relating to the Auction Services or brought in connection with this Auction Agreement shall be brought in the Court or, if the Court no longer has jurisdiction over the Property, then in the Franklin County, Ohio, Court of Common Pleas or the United States District Court located in Franklin County, Ohio. You hereby irrevocably consent to the exclusive jurisdiction and venue of these courts. You agree to submit to the personal jurisdiction of these courts, and you agree not to assert the doctrine of forum non conveniens in any action in these courts.

Auction Conducted by Private Selling Officer

I am conducting the auction as a Private Selling Officer by appointment of the Court. The County Sheriff is not conducting the auction. The Property is not an REO or a bank-owned Property. The law firm involved in the case is subject to client confidentiality and other ethical requirements that limit what the law firm is permitted to say to others. You should not contact the sheriff, the bank, or the law firm for information about the Property or the auction.

If you have questions about the auction, you should contact me. My contact information is:

Richard Kruse

Gryphon USA, Ltd.
PO Box 78

Lewis Center, OH 43035
Phone: 614-885-0020
Email: rfk@gryphonusa.com

Recommendation to Obtain Counsel

If you have questions about the legal process or the conditions or requirements related to the auction of the Property, you should consult your own legal counsel. In deciding whether you should to do this, you should consider this important information:

Various federal, state, or local laws may be applicable to the auction of the Property, such as the U.S. Bankruptcy Code, the U.S. Service Members Civil Relief Act, and Chapter 2329 of the Ohio Revised Code. These are just examples. Other federal, state, or local laws may also be applicable.
The sale of the Property is subject to confirmation by the Court in accordance with applicable provisions of the Ohio Revised Code.
The homeowner has the right to redeem the Property prior to confirmation of the sale in accordance with applicable provisions of the Ohio Revised Code.
The judgment creditor or the Court might postpone or cancel the auction at any time.
The Court might vacate the sale after the auction is completed.
If you are the Highest Bidder, you may be held in contempt of Court if you do not complete your purchase or you may be subject to other consequences, such as forfeiture of the sale deposit.

Defined Terms

In this Auction Agreement:

Bidder means a prospective buyer who places a Bid on the Property.

Bid means an offer to purchase the Property at the stated price. Each Bid is an irrevocable offer.

Buyer’s Premium refers to the amount, calculated as a percentage of the highest Bid, that is payable by the Highest Bidder to the Private Selling Officer for the Private Selling Officer's own account. The Buyer’s Premium is added to the amount of the highest Bid in determining the Purchase Price.

Highest Bidder means the Bidder whose Bid (1) is the highest Bid, (2) was made at the conclusion of the time limit for the auction, which may include anti-sniping time, (3) meets the minimum Bid requirement, if applicable, and (4) is acknowledged by the Private Selling Officer as the highest Bid.

Indemnitees means Richard Kruse, Gryphon USA, Ltd., Allodial Title LLC, and each of their respective affiliates, officers, directors, shareholders, employees and assigns.

Private Selling Officer has the meaning found in Section 2329.01 of the Ohio Revised Code.

Property Details Page means the screen on the Website that identifies a particular property and where Bids are placed for that property.

Searching for Property

You may search for properties marketed on the Website at no charge. You do not need to register with the Website to search for properties.

Caveat Emptor Warning

The principle of caveat emptor (generally, “buyer beware”) applies to the auction of the Property. The Property is being offered “AS IS, WHERE IS,” and there is no inspection or financing contingency. More information about this is given below under the heading “No Contingencies; Your Due Diligence Obligations.”

Appraisal Warning

Unless an exception applies or the Court ordered otherwise, the Property was appraised in accordance with section 2329.17 of the Ohio Revised Code. An appraisal conducted under this section of the Ohio Revised Code does not have to follow customary real estate appraisal requirements. Such an appraisal does not, for example, have to be done by licensed appraisers and almost never includes an interior inspection of the Property. The primary purpose of the appraisal is to establish a minimum Bid for the auction as a safeguard against an unreasonably low sale price. You should not rely on the Property’s appraised value in deciding whether or how much to Bid or as an estimate of the Property’s fair market value or as an indication of the condition of the Property.

No Contingencies; Your Due Diligence Obligations

You acknowledge and agree that the Property (and all other properties) is offered, and is being sold, in its "as is" and "where is" condition, with all faults, defects, and limitations, whether apparent or not.

If you are the Highest Bidder, you will be bound by Ohio law and the terms of this Auction Agreement to complete your purchase of the Property in its then-current state and condition, with all defects, both patent and latent, and with all faults of the Property whether known or unknown, currently existing or that may arise in the future.

By placing a Bid on the Property, you represent that you have conducted all necessary research and due diligence about the Property that you deem appropriate or necessary in order for you to place your Bid.

If you are the Highest Bidder, your obligation to purchase the Property is not subject to any contingencies, including mortgage or inspection contingencies. You acknowledge and agree that any and all required or needed repairs, inspections, surveys, or permits are strictly and solely at your own expense and obligation.

For more information on this, see "Disclaimers Regarding Information" below.

Registering to Bid

Placing a Bid on the Property indicates your intent to purchase the Property. If you are the Highest Bidder, Ohio law requires that you complete your purchase of the Property.

There are no contingencies. As described below under the heading "Defaulting on Your Purchase – Consequences," you may be held in contempt of Court under section 2329.30 of the Ohio Revised Code and/or suffer other severe consequences if you default on your obligation to purchase the Property.

To place a Bid on the Property, you must complete the registration form on the Website and comply with the sale deposit requirements applicable to the Property.

The Property may be subject to a minimum bid, as determined by the Ohio Revised Code or an order of the Court. The minimum bid is usually two-thirds of the Property’s appraised value in accordance with section 2329.20 of the Ohio Revised Code. This section of the Ohio Revised Code, however, might not always apply. If there is a minimum bid, it will be incorporated into the Property Details Page.

The registration requirements are subject to section 2329.154 of the Ohio Revised Code. You must choose a password. You must also provide contact information, an email address, a phone number, and a credit card number (or debit card if it functions as a credit card) or ACH payment information. Private Selling Officer LLC and the Website do not store credit card numbers or ACH payment information. You may have to provide other personally identifiable information. All information required to complete the online registration form is called “Registration Information” in this Auction Agreement. Accounts are not usually reviewed for authenticity. However, I may require, at any time, proof of the accuracy of your Registration Information in a form that I find acceptable or I may reject the use of any password, username, or email address for any reason in my discretion. Failure to provide such proof may lead to, among other things, termination or suspension of your use of the Auction Services.

Section 2329.154 of the Ohio Revised Code requires that you complete the registration form under penalty of perjury. By doing so, you swear or affirm that your Registration Information is, to the best of your knowledge and belief, true, correct, and complete. You may not impersonate, imitate or pretend to be someone else when registering to Bid on the Website.

You may register to Bid only if you are able to form a legally binding contract to purchase real property under the law of the State of Ohio. You cannot Bid if you are a minor or incompetent or do not have the mental capacity or authority to enter into a contract to purchase real property.

If you register to Bid on behalf of an entity, your registration constitutes a representation and warranty to me that you have the mental capacity to enter into a contract to purchase real property and that you also have actual authority to legally bind that entity to such a contract. If you lack such authority, you agree that you will be personally liable for your conduct. In no event may you place a Bid if you have been temporarily or permanently suspended from using the Website.

If any of your Registration Information changes, you must update it promptly. You agree that the Indemnitees have no liability associated with or arising from your failure to maintain accurate, complete, or up-to-date Registration Information and that the Indemnitees are not responsible for verifying your Registration Information.

I have right, but I am not obligated, to resolve any disputes regarding registration or accounts, including authenticity disputes, as I determine appropriate, without notice.

To provide security for payment of the sale deposit if you are the Highest Bidder, if you designate a credit card as your payment mechanism, you hereby irrevocably authorize me and/or Allodial Title LLC to place a temporary hold for all or a portion of the sale deposit on your credit card pending the outcome of the auction. The amount of the hold will be shown on the Property Details Page. The hold will be subject to the terms and conditions of the credit card carrier. If you are not the Highest Bidder, the hold will be released according to the credit card carrier’s requirements.

Safeguarding Your Registration Information

You are solely responsible for your Registration Information and for updating and maintaining it. You are responsible for all actions taken with the use of your Registration Information, including all Bids placed on the Property or any other property.

You may not authorize or permit anyone else to access or use your Registration Information. You may not access or use anyone else’s Registration Information. You may not sub-license, transfer, sell, rent or assign your Registration Information to any third party. Any attempt to do so will be null and void.

If you have reason to believe that your account or profile are no longer secure, you must immediately notify Private Selling Officer LLC via the contact page on the Website and also change the affected Registration Information on the Website or close your account or profile.

The Sale Deposit

If you are the Highest Bidder, you must pay the sale deposit applicable to the Property. The amount will be shown on the Property Details Page. If a required sale deposit is not shown or the amount shown is incorrect, you agree that the error may be corrected at any time and payment of the correct amount of the sale deposit can be required.

You may pay the sale deposit by one of the following payment mechanisms: (1) a credit card (or debit card if it functions as a credit card) or (2) the Automated Clearing House Network (an ACH transaction). The use of a corporate credit card or bank account will be conclusive of your authority to act on behalf of, and to bind, the corporate cardholder or bank account holder. International transactions, whether by credit card or ACH transaction, are not accepted.

If you designate a credit card as your payment mechanism, you will be charged a credit card processing fee equal to 3.50% of the amount charged. This fee is non-refundable. You will not receive a refund of this fee for any reason, even if the auction is cancelled or postponed, or the Court does not confirm the sale of the Property, or the sale is vacated.

You hereby irrevocably authorize me and/or Allodial Title LLC, consistent with your designated payment mechanism, to initiate credit or debit transactions, as applicable, to obtain the sale deposit due on the Property and the credit card transaction fee, if applicable, and to initiate any debit or credit entries or reversals, as the case may be, as may be necessary to correct any error in a payment or transfer, with the objective of discharging your obligation to pay the sale deposit on the Property and related credit card transaction fee, if applicable.

A charge made on a credit card will appear on your statement as a payment made to Allodial Title LLC. An ACH transaction will cause funds to be transferred from your bank account to an account held by Allodial Title LLC. Funds held by Allodial Title LLC do not earn interest.

Since the use of a bank account, credit card or debit card account, or the making of an ACH transfer may be limited by your agreement with your financial institution and/or by applicable law, the Indemnitees shall not be liable to you if your sale deposit payment is not completed as a result of any such limit, or if a financial institution fails to honor any credit or debit to or from an account, and you shall remain obligated to pay the sale deposit and credit card transaction fee, if applicable.

If a charge-back request is initiated, you will be in default on your obligation to purchase the Property. You may be subject to severe consequences if you default on your obligation to purchase the Property as a result of a charge-back or return of your sale deposit. For more detail, see "Defaulting on Your Purchase – Consequences" below.

The Buyer's Premium

If a Buyer's Premium applies to a Property, it will be shown on the Property Details Page.

The Auction Period

Bidding is required to be open for at least seven (7) days under section 2329.152 of the Ohio Revised Code. The originally scheduled end of the auction will be displayed on the Property Details Page.

The originally scheduled end of the auction may be extended if bidding activity occurs in the final moments of the auction. If such activity occurs, the end of the auction will automatically be extended for successive fixed periods of time (usually five minutes or less) (the “Anti-Snipe Time”). The auction will end when no bidding occurs during the Anti-Snipe Time.

Auction Might be Cancelled or Postponed

An auction might be cancelled or postponed for a variety of reasons. There is no guarantee that an auction will take place or be completed. If an auction is postponed or canceled, a notice of this will be given on the Property Details Page on the Website. I will also use my best efforts to notify you of the postponement or cancellation via the e-mail address that you provided when you registered to bid. You should visit the Property Details Page for the most up-to-date information on the auction.

Winning the Auction: The Highest Bidder

As the Private Selling Officer, I have sole and absolute discretion to determine the Highest Bidder, but my determination is subject to review and/or confirmation by the Court.

If you are the Highest Bidder, you will be bound by the terms of this Auction Agreement and provisions of Ohio law to complete your purchase of the Property without any contingencies and without regard to the condition of the Property. For more information on this, see the paragraph above titled "No Contingencies; Your Due Diligence Obligations."

No Guarantee of Purchase

If you are the Highest Bidder, there is no guarantee that the sale process will not be postponed or that you will be able to complete your purchase of the Property. The process might be postponed or the sale of the Property might be vacated by the Court or your purchase of the Property might be canceled for a variety of reasons, including the following:

The Property might be redeemed under applicable provisions of the Ohio Revised Code.
The Court might not confirm the sale of the Property.
The sale of the Property might be vacated by order of the Court.
The sale of the Property might be void under the United States Bankruptcy Code.

I will notify you if the Court vacates the sale or your purchase is canceled using the contact information that you provided when you registered to bid.

The Balance Due

If you are the Highest Bidder, the amount necessary to complete your payment of the Purchase Price (the "Balance Due") will be equal to:

the amount of your Bid, less
the amount of the sale deposit held by Allodial Title, plus
the amount of the credit card transaction fee, if applicable, plus
the Buyer's Premium, if applicable.

As an example, let's assume you are the highest Bidder with a winning Bid of $150,000. Let's assume you used your credit card to pay the $5,000 sale deposit and that a 5% Buyer's Premium applies to the sale of the Property. In this scenario, the Balance Due would be:

Highest bid : $ 150,000.00

Application of sale deposit : $ (5,000.00) $ 175.00

5% Buyer's Premium (charged on bid) : $ 7,500.00

Balance Due : $ 152,675.00

You are not responsible for calculating the Balance Due. I will notify you of the Balance Due using the e-mail address that you provided when you registered to bid.

Deadline for Making Your Payment

You must pay the Balance Due within thirty (30) days of the Court's confirmation of the sale of the Property. This deadline is required by Section 2329.31 of the Ohio Revised Code.

Where to Send Your Payment

Your payment of the Balance Due must be made by wire transfer to Allodial Title LLC. No other form of payment will be accepted. The wire-transfer information for Allodial Title is as follows:

Beneficiary Bank

First Merchants Bank

14500 Davis Drive

Daleville, IN 47334

Beneficiary ABA

074900657

Beneficiary Name

Allodial Title LLC

Account #

9001045641

Reference

Please reference Auction ID No. and Property address

Please be sure to follow these wire instructions carefully. Wiring funds to the wrong account may result in a delay.

Issuance of Deed

Assuming the sale process has not been postponed or the sale of the Property has not been vacated, I will execute a deed and instruct Allodial Title LLC to record the deed only after the Court has issued an order instructing me to execute and issue a deed to you and you have paid the Balance Due.

Title to the Property will be conveyed via a Private Selling Officer’s deed prepared in accordance with section 5302.31 of the Ohio Revised Code and the Court's order. No warranties of title are made in connection with the conveyance of title.

If you wish to take title in the name of an entity, I may require additional documentation or information relevant to an entity's purchase of real property, such as entity formation documents and resolutions authorizing the transaction, all of which must be complete and accurate at the time it is provided.

Title Insurance

If the Property is subject to section 2329.191 of the Ohio Revised Code and you are the Highest Bidder, you should be covered by a particular type of title insurance that applies to foreclosure actions. Section 2329.191 of the Ohio Revised Code requires the plaintiff in a foreclosure action relating to residential property to file a Preliminary Judicial Report (a "PJR") with the court and to update it with a Final Judicial Report. The PJR is a guarantee of the record title only and is made for the use and benefit of the guaranteed party, as defined in the PJR, and the purchaser at the judicial sale, subject to all of the exclusions, exceptions, conditions, and stipulations set forth in the PJR. You should check the Court’s docket to see whether a PJR was filed in the case.

A PJR does not provide the same coverage that an owner’s title insurance policy (an “Owner’s Policy”) provides. An Owner’s Policy provides greater coverage. If you wish to obtain additional title insurance coverage, an Owner's Policy and/or a Lender's Policy may be available from Allodial Title LLC or a title agency of your choice. Any additional title insurance coverage will be solely at your expense.

Disbursement of Funds

Allodial Title will disburse the proceeds of the sale only after I instruct Allodial Title to do so. I will instruct Allodial Title to disburse the proceeds of the sale in accordance with the Court's order of distribution in the confirmation entry.

Defaulting on Your Purchase – Consequences

If you default on your obligation to purchase the Property as a result of a charge-back or return of the payment of your sale deposit, or if you fail to pay the Balance Due within thirty (30) days of the Court's confirmation of the sale, or if you otherwise default on your obligation to purchase the Property, you hereby agree with the following: (1) you will forfeit or pay the amount of the sale deposit to the plaintiff or judgment creditor who requested the sale of the Property, (2) you will consent to the issuance of an order from the Court vacating the sale of the Property, and (3) you may be subject to additional consequences, such as the following:

You may be held in contempt of court under section 2329.30 of the Ohio Revised Code.
You may be held liable for damages calculated as the difference between your Purchase Price and the purchase price of the Property at a subsequent sale plus the costs and attorney fees related to the subsequent sale of the Property.
Your eligibility to use the Website may be suspended or terminated.

The consequences of default provided in this Auction Agreement are in addition to any other remedies provided by law. You may be subject to other consequences not described in this Auction Agreement.

Disclaimers Regarding Information

You acknowledge and agree that I have not made, do not make and specifically negate, and disclaim, any representations, warranties, promises, covenants, agreements or guarantees of any kind or character whatsoever, whether express or implied, oral or written, past, present or future, of, as to, concerning or with respect to the Property or any other property marketed, auctioned, or sold on the Website, including whether any information is complete, accurate, reliable, current, or error-free. All descriptions of properties on the Website are based solely on visual observations or information available from public records and are provided solely for identification purposes.

I do not make any representations or warranties, express or implied, about the description, condition, or occupancy status of the Property or any other property. Without limiting the foregoing, this disclaimer includes:

the description of the Property (including, for example, the size of the Property, the square footage of a residence or other structure on the Property, or the number of bedrooms or bathrooms in a residence),
the occupancy status of the Property (including whether the Property is owner-occupied, tenant-occupied, unlawfully occupied, or otherwise occupied).
the zoning classification of the Property and uses permitted on the Property
the existence of unpaid taxes, assessments, or other charges on the Property and whether you will be required to pay some or all of these items
the existence of leasehold interests or other lien interests or title defects on the Property
the value, nature, quality or condition of the Property, including, without limitation, the water, soil and geology
any income to be derived from the Property
the suitability of the Property for any and all purposes, including occupancy, and any activities or uses which may be conducted on the Property
the compliance of or by the Property or its operation with any laws, rules, ordinances, or integrity of the land or any buildings or improvements of any applicable governmental authority or body
the habitability, merchantability, marketability, profitability or fitness of the Property for any particular purpose
the manner or quality of the construction or materials, if any, incorporated into the Property
the manner, quality, state of repair or lack of repair of the Property
the existence of any view from the Property or that any existing view will not be obstructed in the future
the conformity of the Property to applicable zoning or building code requirements
the existence of soil instability, past soil repairs, susceptibility to landslides and/or sinkholes, sufficiency of under-shoring, sufficiency of drainage, or any other matter affecting the stability or integrity of the land or any buildings or improvements situated thereon
whether the Property is located in a special studies zone under the public resources code or a seismic hazards zone or a state fire responsibility area, or a special flood hazard zone
compliance with the Americans With Disabilities Act or with any environmental protection, pollution or land use laws, rules, regulations or orders or requirements
the disposal or existence, in or on the Property, of any hazardous substance, as defined by applicable environmental or other law
the existence of termites or other pests, radon, lead, defective drywall, methamphetamine contamination, or other illegal or industrial chemicals
any other matter with respect to the Property

If you are the Highest Bidder, you acknowledge and agree that all eviction proceedings and other duties and responsibilities of a real property owner and/or landlord, including compliance with federal, state or local laws, ordinances and regulations, will be your sole responsibility and obligation.

Contact Information

If you have any questions, you may contact me. My contact information is:

Richard Kruse

Gryphon USA, Ltd.
PO Box 78

Lewis Center, OH 43035
Phone: 614-885-0020
Email: rfk@gryphonusa.com

Indemnification

In no event will the Indemnitees be liable for any act or omission of any third party, including, but not limited to, your financial institution, any payment system, any third party service provider, any provider of telecommunications services, Internet access or computer equipment or software, any mail or delivery service or any payment or clearing house system or for any circumstances beyond the control of the Indemnitees (including but not limited to, fire, flood or other natural disaster, war, riot, strike, terrorism, act of civil or military authority, equipment failure, computer virus, infiltration or hacking by a third party, or failure or interruption of electrical, telecommunications or other utility service).

You agree to indemnify and hold the Indemnitees harmless from any claim, demand, expense or damage, including reasonable attorneys' fees and court costs, arising from or relating to your use of the Auction Services or any violation of this Auction Agreement.

No Waiver

My failure to exercise or enforce any right or provision of this Auction Agreement shall not constitute a waiver of such right or provision unless acknowledged and agreed to by me in a writing that expressly references this provision of this Auction Agreement.

Severability

In the event any provision of this Auction Agreement is determined to be invalid or unenforceable by a court of competent jurisdiction, such invalidation shall not invalidate the remaining portions of this Auction Agreement, and those remaining provisions shall be enforced and remain in full force and effect.

Last updated January 7, 2017