#0000 • TERMS & CONDITIONS

Part of 3 Parcels | KPB 2026 Land Auction (Online Only) (timed auction by Alaska Premier Auctions & Appraisals)

Status: Available

BY BIDDING IN THIS AUCTION YOU AGREE TO THE FOLLOWING POSTED TERMS & CONDITIONS AND THE TERMS & CONDITIONS SET BY KENAI PENINSULA BOROUGH IN THE 2026 GENERAL LAND SALE AUCTION BROCHURE 1. AGREEMENT: This agreement outlines the sale of Real Property at public auction on behalf of the Owner or Representative hereafter called Seller, Alaska Premier Auctions and Appraisals LLC hereafter called Auctioneers, and the individuals executing this Terms & Conditions Contract, hereafter called Buyer for the properties for sale. This real estate transaction will be facilitated in partnership with Realty ONE Group Aurora hereafter called Listing Brokerage. 2. TERMS OF AUCTION: a. Online Registration: Visit AlaskaPremierAuctions.com/KPB2026-2 to register for the auction online. Bidding and registration are available when this auction is published. This is an online-only auction. Lots begin closing Monday, November 16, 2026 at 6:00 p.m. AKST. Use the hamburger menu (three lines) at the top right > SIGN IN > NO ACCOUNT? SIGN UP HERE to create an account, or SIGN IN to your existing account. Open any lot available for bidding in the KPB auction and click the purple REGISTER TO BID button. Creating an account alone does not register you for this auction. Follow the registration prompts; your status will be pending. After you register for this auction and accept its Terms & Conditions, APAA will email you the Notary Packet - KPB 2026 Online Registration. The packet is not available to download before registration. Complete the packet received by email. Fill out Forms 1 and 2, but do not sign yet. Sign Forms 1 and 2 with the notary present, and have the notary complete, sign and stamp/seal Form 3 at the same appointment. Email all four pages and your photo ID to Abigail@AlaskaPremierAuctions.com. Send a clear scan showing the notary stamp, or the original digitally signed PDF with its verifiable certificate. If signed in ink, also mail the original packet to 325 W Potter Drive, Anchorage, Alaska 99518. Your completed packet and photo ID must be received by 5:00 p.m. AKST on Monday, November 16, 2026 to allow time for approval. Late approval depends on staff availability and is not guaranteed. APAA will review your documents and email you when your registration is approved. Once approved, you can bid competitively or place a Max Bid. Watch each lot countdown; this auction does not transition to a live auction. The Max Bid feature will bid for you automatically up to your maximum, as long as there is someone bidding against you. All bidding history is published anonymously online during and after the sale. b. The properties are sold “as-is, where-is”. Buyers are encouraged to do their own due diligence before bidding in the auction. c. This auction is additionally bound by all terms of the KPB Land Sale as provided in the KPB 2026 General Land Sale Brochure. Download the brochure at: https://www.kpb.us/landsales 3. REGISTRATION: a. You must be at least 18 years old have a valid credit card on file with our company to register for and participate in our auction. When you register for this real estate auction, there will be a $50 soft hold to confirm there are funds available. This hold will automatically fall off 2-3 business days. b. Buyer must accept the Terms & Conditions for this online-only auction before bidding. c. Bidder registration is approved on a case by case basis with one of our Auction Managers. d. Auctioneers reserve the right to deny service to anyone for any reason. e. Be prepared with a form of government issued identification such as Driver's License, Passport, etc. f. Online bidders must complete the full three-form, four-page APAA Notary Packet in one notary appointment and return all four pages with photo ID before approval. g. All registration information the Buyer provides shall be current, complete, and accurate. h. All bidders are responsible for any bids placed under their bidder accounts and passwords. The security of bidder information is the responsibility of the bidder. Bidders must notify Auctioneers company if they believe that their bidder account and password have been compromised. i. All pre-registration electronic or hardcopies must be complete and received by 5:00 p.m. AKST on Monday, November 16, 2026 in order to ensure your registration has time to be approved. Registrations may be approved after this time based solely on staff availability with no guarantees. 4. BUYER RESPONSIBILITIES: a. You should inspect the property before purchasing. The properties are sold “as-is, where-is”. It is the responsibility of the potential bidder / purchaser to conduct their own due-diligence and thoroughly research and inspect each interested parcel prior to the sale. It is the Buyer's responsibility to perform any inspections they deem pertinent to the purchase of the property to their satisfaction prior to bidding, including but not limited to review of posted inspections, disclosures, and/or a personal on-site inspection. You are recommended to independently verify all information you deem important. Alaska Premier Auctions and Appraisals LLC assumes no liability for errors or omissions in these disclosures or any other property listings or advertising, promotional or publicity statements and materials. b. Buyer may not withdraw a bid because of any discovery during or in relation to an inspection(s). The Buyer must be prepared before placing a bid. c. In the course of your inspections, if the property is damaged by the Buyer or their chosen contractors, Buyer will be liable for all costs of repair and any related damage. d. Buyer agrees to execute and deliver all documentation and submit funds in an efficient and timely manner. e. Buyer agrees to not make false or misleading claims or statements regarding their availability of funds, or their ability or interest to purchase the property. f. Buyer agrees to ensure their availability of funds before placing a bid. g. Buyer agrees to comply with all applicable laws regarding the sale of real property in Alaska. h. Collusion between bidders is prohibited by the Federal Anti-Trust Laws. If Auctioneers perceive attempted collusion, they may cancel the auction, ban the bidders, or seek other remedy they deem fit. 5. CLOSING & RECORDING: a. NO BUYER'S PREMIUM!! b. INTERESTED BIDDERS ARE ENCOURAGED TO OBTAIN AN OWNER’S POLICY OF TITLE INSURANCE AT BUYER’S EXPENSE. If a buyer desires to obtain a preliminary commitment for title insurance or title insurance on the land, it shall be the buyer's responsibility to obtain and pay for such commitment or insurance. Per the 2026 KPB brochure, title insurance is required for online winning bidders, KPB-financed sales, and/or POA transactions, and will be paid by the buyer. c. Down payment is 10% of the winning bid or $1,500, whichever is greater, of which $500 is a non-refundable review fee (2026 brochure). All online winning bidders must submit down payment by cashier’s check or wire directly to Stewart Title of the Kenai Peninsula within five (5) business days of the sale, and must close through Stewart Title of the Kenai Peninsula. d. Winning bidders must indicate if title insurance is desired (where optional) and the financial option selected to close the transaction. Option A. "All Cash": Winning bidder(s) will pay cash (in the form of a cashier’s check or wire) at closing, including the balance of the winning bid amount plus closing costs. The down payment will be held by the KPB (unless otherwise designated by KPB) and credited towards the purchase price. Option B. "Financed": Winning bidder(s) will pay the required down payment (10% or $1,500 floor / $500 review fee as above). Upon credit approval, the balance will be financed by KPB. The winning bidder(s) shall execute a deed of trust and note, secured by the property sold, in favor of KPB. The note for initial principal amount will be payable in 120 equal monthly payments (ten years), at the U.S. Prime Rate plus two percent (2%), with Prime determined prior to commencement of the online-only auction (2026 brochure). The deposit will be held by the KPB (unless otherwise designated by KPB) and credited towards the purchase price. f. The buyer shall be responsible for paying all closing costs which may include, but are not limited to; recording fees, document preparation fees, mortgagee's title insurance policy (if sale is financed by KPB), owner's policy of title insurance (if required or requested by buyer), all long term escrow fees, and any other fees associated with the closing process and financial option selected. h. If purchaser should fail to meet any and all terms and conditions contained in the purchase agreement, KPB may retain the $500 review fee and up to $1,000.00 as liquidated damages per the 2026 brochure / PA. Any amounts due to the purchaser will be deducted from their down payment and returned to purchaser only after deposited funds have been verified as cleared, by KPB. Please review attached purchase and sale agreement for additional details. i. All parcels shall be conveyed by Quitclaim Deed (2026 brochure FAQ/T&C), subject to the following: i) reservations, exceptions, easements, rights-of-way, covenants, conditions and restrictions of record or created by operation of law; ii) governmental regulations including but not limited to, setbacks, zoning, and permit requirements; iii) the applicable general conditions contained in KPB 17.10.240, and iiii) any matters including, but not limited to issues associated with existing trails or encroachments, if any, which would be disclosed to the buyer by an actual inspection or survey of the property. For Gray Cliff parcel 02533008, the deed expressly reserves subsurface mineral interests to KPB. None of the three properties in this auction are eligible for the Land Affordability Program. 6. DOCUMENTS & DISCLOSURES: a. Buyer must be prepared to execute all documents outlined below immediately following the conclusion of the auction. Blank copies of these documents can be downloaded from our website AlaskaPremierAuctions.com/KPB2026-2 and from the 2026 brochure appendix. Online winning bidders must sign their purchase agreements on Tuesday, November 17, 2026, within 24 hours after the auction closes, unless KPB staff directs otherwise. - Purchase & Sale Agreement - As provided by Kenai Peninsula Borough 7. BUYER DEFAULT: a. In the event the Buyer is the winning bidder, and fails to submit deposits or complete documentation in a timely manner, the Auctioneers may terminate this agreement and ban you from future participation. Time is of the essence. b. If the transaction fails to close and record due to any fault of the Buyer, known or unknown, remedies follow the 2026 KPB brochure and purchase agreement (including retention of the review fee and liquidated damages as stated there). The parcel may be offered to a backup bidder, or otherwise sold. c. Buyer agrees to not withdraw any bid or offer, including offers in writing with a Purchase and Sale Agreement. By participating in our auction Buyer agrees they will not retract or lower their offer in any way. d. Bidding on the property is a legally enforceable commitment by the buyer to purchase the property. e. If Buyer is found to be in violation of any of these terms herein in any way, the Auctioneers reserve the right to terminate the agreement and ban the Buyer from future participation. f. In the event of Buyer default, Auctioneers reserve the right to sell to the next highest qualified Buyer. g. In any event of Buyer Default, the Buyer will be blocked and banned from future participation in any auctions. h. If the transaction fails to close and record due to any fault of the Buyer, known or unknown, they will forfeit down-payment amounts per terms of the KPB Land Sale as provided in the 2026 General Land Sale Brochure. 8. BIDDING ONLINE: a. All bidding is open to the public. The property is available to purchasers without regard to race, color, religion, sex, familial status, national origin, or physical handicap. b. Bidder registration must be manually approved by the Auctioneers. Approval will be on a case by case basis determined by Buyer’s availability of funds and genuine intent to purchase the property. The identity of all bidders will be verified, bidding privileges are provisional, and if complete verification is not possible, Auctioneers reserve the right to reject the registration and bidding activity is subject to termination. Auctioneers reserve the right to refuse service to any bidder or reject any bid for any reason. c. Auctioneers reserve the right to ban Buyer from bidding at any time, for any reason. d. Any person bidding on behalf of another person or entity must have a valid, legally enforceable, unexpired, Power of Attorney approved by Auctioneers before being approved to place bids. Per the 2026 brochure, transactions involving a Power of Attorney must be closed through a title insurance company selected by KPB. e. This is an online-only timed auction. Lots begin closing on Monday, November 16, 2026 at 6:00 p.m. AKST, one lot per minute. Each lot has a 60-second automatic extension when a bid is placed during its closing window. Lots extend independently. Review each lot countdown before bidding. f. Company Defined Online Bidding Increments: $1 - 1,000,000+: $1000 g. Bid increments are subject to change during the online auction at Auctioneers discretion. h. During this auction process, there is a chance that you will be outbid. If you have the bidding app, you will receive a popup notification, otherwise, you will receive an email. It is the responsibility of the Buyer to realize and maintain their desired bidding position. i. Placing a Maximum Bid will place a bid for the next bid increment and will automatically bid for the Buyer up to the value of their Maximum Bid unless there is a reserve as outlined in below. j. When a user places a Maximum Bid it will be placed at the reserve price if said Maximum Bid exceeds the reserve. If the Maximum Bid amount is below the reserve the bid will be placed for the full amount. i. The MaxBid function on the online bidding platform is private to users; however, it can be seen by the Auctioneers. 9. LEGAL & TAX ADVICE: a. Alaska Premier Auctions and Appraisals will not provide any legal or tax advice. Any and all disclosures to third parties are the sole responsibility of the Buyer. 10. CONDITIONS OF SALE: a. All property is sold “AS IS”, and ALL SALES ARE FINAL. Any condition statement given, as a courtesy to a client, is only an opinion and should not be treated as a statement of fact. Buyers are always encouraged to inspect items in person prior to bidding to make their own determinations as to condition, safety, and more. Alaska Premier Auctions and Appraisals LLC accepts no responsibility for any error or omission in regards to their statements or the statements of independent contractors. b. It is the Buyer’s sole responsibility to determine condition, safety, value or any other determining factor. Alaska Premier Auctions and Appraisals LLC may attempt to describe the property in advertising, on the Internet, and at the auction but makes no representations. In no event shall Alaska Premier Auctions and Appraisals LLC be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Buyer shall be the sole judge of value and authenticity and may not make any contest regarding any determining factor. Buyers who participate from off-site and forego the opportunity to be present at the preview understand and acknowledge that this affects their ability to inspect the property as well as if they examined it in person. Alaska Premier Auctions and Appraisals LLC will not be responsible for any errors or omissions in the description unless it is a material and intentional misrepresentation of the property. Buyer agrees that everything is sold as-is. THERE ARE NO REFUNDS. c. KPB and its affiliates are not responsible for interruptions, delays, or failures in internet service or devices affecting online bids (2026 brochure). 11. WARRANTIES: a. The Buyer warrants that they have the purchasing power and legal right to bid on the property and complete the sale. b. The Buyer warrants that they are committing to purchase the property by placing a bid. In the event the Buyer is unable to complete the purchase for any reason, known or unknown, non-refundable amounts under the 2026 brochure / PA may be forfeited. By bidding at the auction, you represent, warrant and agree that you have inspected the property to your satisfaction and that you have made your bid after having relied solely upon your own independent investigation and/or analysis of third parties’ inspection, appraisal and evaluation of the property and the facts and circumstances related thereto. c. Alaska Premier Auctions and Appraisals LLC is providing Internet auction bidding as a service to Bidder. 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 Alaska Premier Auctions and Appraisals LLC or anyone else if the Internet service fails to work correctly before or during the timed online auction. Alaska Premier Auctions and Appraisals LLC will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bids are acknowledged should use the website feature and leave their maximum bid 24 hours before the auction ends. 12. GOVERNING LAW & VENUE: a. This agreement is governed by and construed in compliance with the domestic laws of the State of Alaska without giving effect to any choice-of-law or conflict-of-law provision or rule (whether of the State of Alaska or of any other jurisdiction) that would cause the application of the laws of any jurisdiction except the State of Alaska. All disputes related to this agreement shall be resolved in a court of law located in Anchorage, Alaska. 13. INDEMNIFY: a. Buyer agrees to indemnify and save harmless the Auctioneers and their employees, agents, successors, or assigns, against any and all claims, injury, loss, liabilities, damages, demands, action or cause of action whatsoever in any manner arising from this auction or privately negotiated sale; before, during, or after the auction. 14. BINDING: a. Parties agree that this agreement shall be binding upon the undersigned and their respective heirs, administrators, executors, powers of attorney, trustees, agents, receivers, successors, and assigns, etc. If there is more than one party described as Buyer herein, the obligations imposed by this agreement shall be joint, and several. If any term of this agreement is determined by a court to be unenforceable, the remainder of this agreement shall not be affected. The terms & conditions of this agreement shall survive settlement or lack thereof. 15. ACKNOWLEDGEMENT & ACCEPTANCE: a. This written agreement constitutes the entire agreement between the parties and no modification of this agreement shall be effective unless made in writing and signed by both Buyer and Auctioneers. Buyer has read the foregoing agreement, agrees to, and understands the responsibilities, obligations, and conditions thereof. Buyer acknowledges receipt of a copy of this agreement and attached schedules, if any. YOUR PARTICIPATION IN THE AUCTION, OR SIGNATURE (WHETHER ELECTRONIC OR HAND-WRITTEN) CONSTITUTES ACKNOWLEDGEMENT AND ACCEPTANCE OF ALL TERMS HEREIN. Register & Bid Online At: AlaskaPremierAuctions.com/KPB2026-2 Would you like to sell your land or other property in one of our upcoming real estate auctions? Act now, we may be able to include your land, cabin, or residence in one of our upcoming sales! We're pleased to offer 3 pieces of real estate to the highest bidder in the Kenai Peninsula Borough. Please direct all questions to our in-house Realtor, Abigail McLagan at 907.570.7050 x 703 or Abigail@AlaskaPremierAuctions.com Thank you for your interest in the Kenai Peninsula Borough 2026 General Land Sale Auction! Best of luck on your bids!