REAL ESTATE AUCTION

BANKRUPTCY

Auction held at:

Cunningham & Associates, Inc.

3138 W. Durango St.

Phoenix, AZ 85009

September 8, 2004 10:00 A.M.

NO RESERVE

NO BUYERS PREMIUM

SUBJECT PROPERTY:

• 3 vacant residential lots in Tonopah, AZ

• These 3 lots are adjacent to eachother

• APN:  401-57-522, 401-57-524, and 401-57-526

• Legal Description:  Harquahala Ranches, Lots 145, 147, and 149

• Maricopa County Assessed Full Cash Value:  $9,000.00             

• Lot size:  48,868, 48,868, and 49,162 +/ square feet, respectively or 146,898 square feet total.  3.37 +/- acres.

• Zoned:  Residential

• Utilities:  Utilities are in the subdivision – APS, Eagle Tail Water Co., TDS Telecom

• Houses and double-wide mobile homes are permitted.  No single-wide mobile homes allowed.

• County maintained gravel road

• Existing homes are within 1 block of the subject lots. 

TERMS:  $1,000.00 cash/cashier’s check deposit made out to TSA Title Agency in order to obtain bidder’s card.  This deposit is refundable to all unsuccessful bidders.  Successful bidder must pay balance in-full no later than 9/9/04 12:00 P.M.  All bidders are encouraged to personally inspect the subject property prior to auction as this property will be sold “as is” and “where is”.  This property is owned free and clear.  Bidders must conduct all due diligence to satisfy themselves prior to bidding.   Buyer to pay all closing costs.  Close of escrow to occur on or before 9/30/04.

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