GENERAL TERMS AND CONDITIONS:

ENVIRONMENTAL DISCLAIMER:  A Phase I Environmental Site Assessment, dated January, 8^th 2010, can be accessed by signing the appropriate disclaimer.  The company that conducted the study found multiple environmental concerns.  All bidders will be required to acknowledge that they have reviewed the referenced study, and are strongly advised to perform their own due diligence, and draw their own conclusions before bidding. Neither Trustee nor Auctioneer make any environmental warranties.

AUCTION REGISTRATION: Auction registration will begin one hour before the auction. In order to register, you must present a valid drivers license or other form of identification, certified funds (or other cash equivalent) in the amount of $50,000 made payable to yourself, and evidence of a checkbook or other means of paying the balance of the required 10% earnest money deposit.
PROPERTY INSPECTION:  Tuesday, April 13^th from 11am-2pm.  To schedule an appointment, please call Scott Schwartz @ 404-550-3490.

BROKER PARTICIPATION INVITED: Unless noted otherwise in property listing or herein, a broker commission of twenty (20%) of Auctioneer commission will be paid on real estate.  A commission will be paid to the properly licensed broker whose prospect purchases and closes on the real estate. To qualify for a commission, the Broker must register by mail, fax or hand delivery using the broker registration form provided on our website at www.auctionEbid.com for the property listings. The registration form must be signed by the prospect and the Broker, and must be received at an office of Auction Management Corporation no later than 5:00 PM two (2) days prior to each auction via fax or mail. Broker must also attend the auction and sign the Auction Real Estate Sales Contract if their client is the winning bidder. Commissions to be paid only upon closing. A Broker cannot act as a principal and a broker on the same transaction.

AUCTION INFORMATION OFFICES: The auction information office is located at 1827 Powers Ferry Road, Building 5, Atlanta, Georgia 30339, phone (770) 980-9565. Fax: (770) 980-9383. Brochures, Auction Real Estate Sales Contracts, and other information may be obtained by calling the office, or by visiting our website at www.auctionEbid.com .

BUYER’S PREMIUM FEE ADDED:  A ten percent (10%) buyer’s premium fee will be added to all winning bids to determine the purchase price.

TERMS OF SALE FOR REAL ESTATE: Successful bidders will pay an initial earnest money deposit of the greater of $50,000 or ten (10%) of the purchase price (bid amount plus buyers premium) made payable to First American Title as escrow agent. At least $50,000 of this earnest money deposit must be in the form of certified funds or other cash equivalent. Upon conclusion of the auction, winning bidder will sign an Auction Real Estate Purchase & Sales Agreement (available for inspection on our website at www.auctionEbid.com ), endorse $50,000 certified funds over to escrow agent, and may write a locally drawn personal or business check for the balance of the required earnest money deposit. The earnest money deposit is non-refundable for all sales.

Closing must occur within 30 days unless extended in writing by mutual consent of the parties. The Auction Real Estate Sales Contract which successful bidders must sign at the auction contains an acknowledgment that the purchaser has inspected the property prior to the auction, is relying solely on his/her inspection, and is purchasing the property As Is with all faults and without reliance on any warranty of any kind whatsoever. NO CHANGES WILL BE MADE TO SAID AUCTION REAL ESTATE SALES CONTRACT OR ANY EXHIBITS ATTACHED THERETO, AND THE HIGH BIDDER WILL BE OBLIGATED TO EXECUTE AND DELIVER SAID AUCTION REAL ESTATE SALES CONTRACT ON AUCTION DAY. Provided, however, Bankruptcy Trustee reserves the right to modify or amend said Auction Real Estate Sales Contract, to complete blank sections, to attach appropriate exhibits, and to comply with federal, state and local laws as may be enacted or amended from time to time.  

KEYS: Neither Auctioneer nor Bankruptcy Trustee warrant key availability on any property. If available, keys will be provided at closing. However, bidders are strongly advised to re-key any properties immediately after closing.

AUCTION POWER OF ATTORNEY: For interested bidders who cannot attend the auction but would like to have a representative bid at the auction on their behalf, an Auction Power of Attorney can be obtained by contacting the Auction Information Office at (770) 980-9565.

BUYER'S NOTE: Auctioneer reserves the right to add or delete property from this auction or to alter the order of sale from that published herein. Real property to be conveyed by Trustees Deed, using the legal descriptions provided by Trustee from Bankruptcy Case #08-83029-JAC11 for the property. Personal on-site inspection of the property is strongly recommended. Failure to inspect property prior to auction does not relieve purchaser of contractual obligations of purchase. Property sells As Is - Where Is with no warranties expressed or implied. Only the following sale closing costs will be paid by seller: (1) Commissions or brokerage fees to auctioneer and/or cooperating Brokers as set forth in separate agreement with auctioneer, and as established in these Terms and Conditions; (2) reasonable title corrective expenses, in Seller’s sole determination; and (3) Prorated property taxes and back taxes due, if any. All other closing costs, including but not limited to surveys, title examination, loan closing costs, and purchaser’s attorney fees are at the expense of the Buyer. Sale shall be closed at the offices of Seller’s Designated Closing Agent (“Closing Agent”), First American Title, 100 NE Loop 410, Ste 250, San Antonio, Texas 78216, attn: Carol Perry, phone (210) 321-0707, email caperry@firstam.com, or as announced at the auction. Closing Agent fees to be split between Buyer and Seller.

Information was gathered from reliable sources and is believed to be correct as of the date the information was posted, however, this information has not been independently verified by Auctioneer. It is purchaser's responsibility to verify all information provided herein. All acreage and dimensions are approximate and could be subject to change upon an actual field survey.  ALL ANNOUNCEMENTS MADE AT THE AUCTION TAKE PRECEDENCE OVER ALL ADVERTISING. Neither Trustee nor Auctioneer have any liabilities whatsoever for any oral or written representations, warranties or agreements relating to the property (including information appearing in this brochure or announcements made at the time of the auction) except as expressly set forth in the Auction Real Estate Sales Contract. Buyers accept all conditions, restrictions, and easements of record. All sales are cash sales and not subject to financing. There is no minimum starting bid required on any unit. Bid increments are at the sole discretion of Auctioneer. There is no obligation on the part of the Trustee to accept any backup bids in the event the high bid falls through.

DISCLOSURE: In all transactions, the Auctioneer is acting as agent for the Seller, not as buyer's agents.

 FOR DETAILED INFORMATION call 770-980-9565, or contact Scott Schwartz at 404-550-3490 (scott@auctionEbid.com ).

Julian E Howell, TXAL# 14026

Hunter Schuehle, TX Broker