ENDS 5/1 MINERAL ONLINE ONLY AUCTION
Ended: 05/01/18 at 10:00 AM CDT
Minerals will transfer with Mineral Quit Claim Deed. 100% due at the end of the auction.
Buyer will have 30 days to do any diligence. SUBJECT TO ANY EXISTING LEASES
Abstract of Title: Buyer understands and agrees that it is Buyer’s sole responsibility to satisfy himself or herself as to the quantity of oil, gas and other minerals owned by Seller and as to the status of the title of any oil, gas and other mineral interest owned by Seller. Seller makes no representation or warranties of any kind as to the quantity of the mineral acres or fractional interest in the oil, gas and other minerals owned by Seller. Seller has no obligation whatsoever to furnish to Buyer an abstract of title to the oil, gas and other minerals being sold pursuant to this Agreement, or furnish any other evidence of title to Buyer. In no event shall Seller be required to pay for any cost associated with updating, supplementing or compiling an abstract of title. Except as otherwise stated herein, Seller agrees to deliver to Buyer marketable title to the oil, gas and other minerals Seller owns in and under the Property, subject to surface use and ownership, reasonable utility easements, rights-of-way, restrictive or protective covenants of record, if any, oil and gas leases, if any, and outstanding oil, gas and other mineral interests owned by third parties. Buyer agrees to satisfy himself as to the status of Seller’s title in the oil, gas and other minerals in and under the Property and will notify Seller of any objections to title within 10 days of the date of this contract first written above.
Notwithstanding anything herein to the contrary, Buyer and Seller agree that Seller shall have no obligation to furnish to Buyer Certificates of Non-Development or Certificates of Records Search from the Oklahoma Corporation Commission, or to furnish to Buyer an abstract of spacing covering the Property, or any other information concerning the spacing and unitization that may exist for the Property.
No matter shall be construed as a valid objection to title under this contract unless it is so construed under the Real Estate Title Examination Standards of the Oklahoma Bar Association, where applicable. In case of valid objections to title, Seller shall have 60 days from being notified of such objections, or such additional time as may be agreed to in writing by Buyer and Seller, to satisfy such objections. If such valid objections cannot be satisfied within the time specified in this paragraph, any earnest money paid pursuant to paragraph 2(A) herein shall be returned to Buyer and this contract shall be of no force and effect
Any and All Items sold: Lippard Auctioneers Inc will not be responsible for any errors or omissions in the description of the merchandise unless it is a material and intentional misrepresentation of the item itself. Bidder agrees that everything is sold as is and that they may not return any item they purchase. Bidders who bid from off site and are not present to preview understand and acknowledge that they may not be able to inspect an item as well as if they examined it in person. It is the Bidder’s responsibility to determine condition, age, genuineness, value or any other determining factor. Lippard Auctioneers Inc. shall endeavor to describe in detail each item and any pertinent information about it. 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 Lippard Auctioneers Inc or anyone else if the Internet service fails to work correctly before or during the live auction.
Auction Company reserves the right to bid on their own behalf, on the behalf of a bid left by other buyers