(1) Payment to the Master Commissioner for the estimated costs of each sale in the amount of Seven Hundred and Fifty Dollars ($750.00). Any additional expense requested by the party seeking a date of sale will be addressed on an individual basis by the Master Commissioner.

(2) A legal description of the property(ies) to be sold with a street address or a brief description of its location if no property address is available, AND any number(s) assigned to the property/parcel by the tax assessor for purposes of identification and record keeping such as the parcel or property identification number.

(3) The name and address of each person or entity who is to be served notice by the Master Commissioner.

(4) The name of the party or parties whose interest is being sold or conveyed.

(5) The source of title of the party or parties whose interest is being sold or conveyed.

The terms of sale to be stated in all Judgments and Orders of Sale and are as follows:

(1) The terms of the sale shall be either cash or ten (10%) percent of the purchase price in the form of a cash deposit at the time of sale and balance of the purchase price on a credit of 30 days. If the purchaser elects to take credit for the balance, then the purchaser will be required to execute a bond at the time of sale and furnish sufficient surety thereon approved by the master commissioner prior to the sale to secure the unpaid balance of the purchase price. Pursuant to KRS 426.705 the bond shall be for the unpaid balance of the purchase price and bear interest at the rate the judgment bears, from the date of sale until paid.

(2) The purchaser shall be required to assume and pay all taxes levied against said property for the current tax year and all subsequent years. The property shall be sold “as is”, “where is” and without warranty. Possession shall pass to the purchaser upon delivery of deed. Risk of loss shall pass to the purchaser upon execution of bond of sale or payment of the purchase price in full whichever occurs first.

(3) The property shall be sold free and clear of any right, title or interest of all parties to the action and all liens and encumbrances thereon of any party to the action. The sale of the real estate shall be made subject to all zoning and building regulations, restrictions, ordinances, easements, covenants, and rights-of-way, of record or otherwise.

Orders of Distribution of funds held by the Master Commissioner shall:

(1) Set forth the amounts collected, including the advance costs deposit referenced in 3.10(1) herein.

(2) If disbursements are to be made to a taxing authority, then the taxing authority with the outstanding tax bill number and year must be listed in the Order of Distribution and copy of the tax bill or bills and the amounts due upon disbursement must be furnished to the Master Commissioner.

(3) The preparation of the Order of Distribution shall be the responsibility of the lien holder of first priority and shall address all secondary lienholder's interests.

If the amount of a secondary lienholder's interest is unknown, then that is to be stated in the Order of Distribution and the balance is to be held by the Master Commissioner pending further Orders of the Court.