PUBLIC REAL ESTATE AUCTION

WEDNESDAY, JUNE 9, 2004 10:00 A.M.

BANKRUPTCY

DESERT OASIS RV PARK

29 SPACE MOBILE HOME AND RV PARK

WITH SINGLE FAMILY RESIDENCE

SUBJECT PROPERTY LOCATION:

37233 WEST BUCKEYE ROAD

TONOPAH, ARIZONA 85354

NOTE:  You may drive by the park between 9A - 4P but please do not make contact with any of the residents

map to location not auction site

AUCTION LOCATION:

CUNNINGHAM & ASSOCIATES, INC.

3138 WEST DURANGO STREET

PHOENIX, AZ 85009

NO RESERVE

NO BUYERS PREMIUM

• ASSESSOR’S PARCEL NUMBERS:  506-41-147C, 506-41-140R, 506-41-140Q

• LOT SIZE:  402,493 SqFt +/- (13+ acres)

• FRONTAGE:  325 lineal feet

• ZONING:  R-43 with special use permits

• UTILITIES:  APS, City Gas, well, septic, Qwest

• YEAR BUILT:  1957

• STREETS:  The interior roads in the park are asphalt paved

• PAD-SPACE AMENITIES:  Concrete pads, asphalt driveways, utility hook-ups for electricity, natural gas, sewer, and telephone.

• Income potential: $10,000 - $12,000/mo. with trailers renting for $400-$500/mo.

• A litigated easement award will be given to the debtor.  This award is not part of the auction.

This park has 19 mobile home spaces and 10 RV spaces and one single family residence.

TERMS:  $20,000.00 cash or cashier’s check deposit (cashier’s check made out to bidder).  10% of highest bid will be payable by June 9, 2004 5:00 P.M. as a non-refundable earnest money deposit.  Balance of high bid due a close of escrow.   Close of escrow will be scheduled for July 1, 2004.  Escrow company shall be Fidelity National Title Title Agency.  This property will be sold “as is” and “where is”.  The property is in bankruptcy and this sale is subject to all liens and encumbrances.  Bidders are encouraged to conduct all due diligence prior to bidding.  Due diligence includes, but is not limited to:  appraisals, termite inspections, title research, roof inspections, soil tests, etc.  All due diligence must be conducted and paid for by the bidder.  A 2% co-broke will be offered to any properly licensed Arizona real estate broker who’s client closes escrow as per auction terms.