BUYER’S ACKNOWLEDGMENT OF AUCTION TERMS AND CONDITIONS

“ADDENDUM A”

This Addendum is attached to and forms part of the Seller Representation Agreement #HLB210706.
1958612 Alberta Ltd, herein referred to as “The Vendor” enters into a contract with Hansen
Land Brokers Inc, herein referred to as “The Brokerage” to sell their property at Cardston
County, Alberta by way of Public Online Auction.
The Online Auction will commence on September 28, 2021 at Twelve O’clock p.m. MDT and will conclude with a soft close at 5 pm.on September 28. In the event a bid is received within 2 minutes of the closing time, an additional 2 minutes will be added to the sale time and all of the lots will “reset” until a 2 minute interval has been reached without any bidding taking place. The auction will be conducted pursuant to the following terms:

The Auction will be conducted pursuant to the following terms:

1. PLATFORM: The Online Auction will be accessed on the Internet using the platform of
[URL]www.liveauctionworld.com[/url]

2. UNRESERVED POST-STARTING BID: This Auction Sale is Unreserved Post-Starting Bid which means that once the starting bid of $59,000 has been initiated, the highest bid on each lot at the end of the auction will be accepted as the final sale price.

3. RIGHT TO SELL PRIOR, RIGHT TO CANCEL, POSTPONE OR WITHDRAW Hansen Land Brokers reserves the right to cancel, postpone or withdraw the Property(s) up to the start of the auction. Seller reserves the right to sell the property(s) in any manner it so desires before or up to 10 Days prior to the auction. The Buyer's Premium will still apply to any sales effected prior to or after the Auction as per the Exclusive Seller Representation Agreement #'(s) HLB210706

4. BIDDERS MUST PRE-REGISTER: All bidders will be required to pre-register prior to participating in the auction and the registration will include confirmation of a valid credit card as well as the collection of Purchaser’s Bank and Banker contact information. Bidders will have customer status as set out in Real Estate Council of Alberta’s Consumer Relationship Guide.
([URL]https://www.reca.ca/wp-content/uploads/2019/03/Consumer-Relationships-Guide-FormNew-logo-2018.pdf[/url])

5. BUYER'S PREMIUM & COOPERATING BROKERS A Buyer's Premium of 6% will be added to the final bid and will constitute a portion of the selling price. The 6% Buyer's Premium plus GST will be retained by the Brokerage as commission for their services
rendered. Hansen Land Brokers Inc. cooperates with other brokers and offers 1.5% of Final Sale Price as compensation. In order to qualify for the commission the Agent must contact Hansen Land Brokers Inc. to register their bidder prior to their client registering as a bidder in the sale.

6. GST: Applicable GST (5%) will be added to the final purchase price and will be calculated into 2 categories: the portion of the selling price that excludes the Buyer’s Premium and the portion that constitutes the Buyer’s Premium.

7. TITLE(S): The Title(s) shall be free and clear of all financial encumbrances except Restrictive Covenant 211152652, Encumbrance 211153099, a Caveat in respect of the Development Agreement entered into between the Seller and Cardston County dated March 12, 2018, and those implied by law including easements, utility rights-of-way, restrictive covenants and conditions that are normally found registered against property of this nature.

8. AS IS WHERE IS: The Purchaser shall accept the Property “AS IS”, “WHERE IS”, and “WITH ALL FAULTS” as of the closing date and the Purchaser specifically agrees that neither the Seller nor Hansen Land Brokers Inc. (The Brokerage) or Live Auction World make any representations or warranties of any kind whatsoever, expressed or implied, to the Purchaser as to the value, condition or fitness of the Property, environmental or otherwise, or any part thereof or improvements thereon. All descriptions, measurements and acreage provided by the Vendor and the Brokerage are to be used as a guide only.
The Purchaser acknowledges and agrees that it is the Purchaser’s sole responsibility to make such legal, factual and other inquiries, inspections and investigations as Purchaser considers necessary prior to bidding on the Property, and Purchaser will warrant and represent that he shall have satisfied himself as to the location and condition of the Property, and all descriptions with respect thereto, prior to bidding, and that he has had the opportunity to do so.

9. FOREIGN OWNERSHIP: Foreign citizens and foreign controlled corporations may own or beneficially own up to 2 parcels of controlled land not exceeding 20 acres in total. Canadian citizens and permanent residents (landed immigrants) aren't affected by the Regulations. See:
[URL]https://www1.agric.gov.ab.ca/$department/deptdocs.nsf/all/ofa16521/$file/foreign.pdf?O
penElement[/url]

10. COMPLETION DAY: Completion Day will be 30 days following acceptance of Purchase Contract, unless otherwise suggested by the Vendor’s lawyer. Completion and closing of the real estate transaction will be handled by the Vendor’s lawyer. The Purchaser will be required to retain the services of a lawyer to complete the transaction, to ensure the purchase is executed by the closing date (“Completion Day”) The Purchaser and the Vendor shall be responsible for their own legal fees.

11. SUCCESSFUL BIDDER REQUIREMENTS: The successful bidder will be required to complete an unconditional Offer to Purchase Contract within 72 hours of the closing of the Auction.

12. DEPOSITS: The Offer is to be accompanied by a 10% Deposit in the form of a direct wire transfer of immediately available funds to the appropriate account or Bank Draft. Both Offer and Deposit are to be received within 72 hours of the conclusion of the Auction. All Deposits will be held in accordance with the terms of the signed Purchase Contract. The Deposits must be held in trust according to the Real Estate Act of Alberta. The Deposit(s) will be non-refundable.

13. SETTLEMENT OF DISPUTES: Hansen Land Brokers Inc. may, in the event of any dispute between bidders, determine the successful bidder or re-offer the subject Property for auction. Should there be any dispute after the Auction, The Live Auction World’s record of the High Bid, and the Purchase Price shall be conclusive to resolve the dispute.

14. LAWS IN OF PROVINCE OF ALBERTA: The respective rights and obligations of the parties with respect to these Terms and Conditions and the conduct of the Auction shall be governed, enforced and interpreted by the laws of the Province of Alberta, without regard for conflicts of law principles.

15. By registering with Hansen Land Brokers Inc., Hansen auctions and liveauctionworld.com, you accept and agree to be bound by all of the Terms and Conditions indicated above.

16. Bidders must satisfy themselves as to the exact current acres, property lines, and fence
locations, building sizes, taxes and assessments, zoning and permitted uses, Home Owner’s Association registrations, Restrictive Covenants & surface lease revenue details, as well as any other information pertaining to the property. The information is a guide only.

Disclosure; Hansen Auctions is a wholly owned subsidiary of Hansen Land Brokers Inc. which
is a licensed real estate company in the Province of Alberta and a member of the Calgary Real
Estate Board.