NO BUYERS PREMIUM

NO RESERVE

September 14, 2005 10:00 A.M.

SUBJECT PROPERTY:

• 10-acre vacant near St. Johns, AZ

• Apache County Assessor Parcel Numbers:  212-10-015

• Legal description:  SE4 SW4 SE4 SEC 13 T13N R26E

• Lot size:  10+/- acres (435,600 +/- square feet)

TERMS:  $1,000.00 cash/cashier’s check deposit made out to Cunningham & Associates Real Estate, LLC 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 9/15/05 12 P.M. or forfeit deposit.  Balance of purchase price is non-refundable.  All bidders are encouraged to personally inspect the subject property prior to auction as this property will be sold “as is” and “where is”.  Seller guarantees this property is owned free and clear.  Bidders must conduct all due diligence to satisfy themselves prior to bidding, including on-site inspections, land investigations, title searches.   Buyer understands buyer is bidding on above property in “as is” condition and as such waives his/her review and approval of seller disclosure statement.  First American Title Company shall be the escrow/title company.  Buyer to pay all escrow fees/closing costs.  Close of escrow to occur on or before 10/15/05.  Above information is deemed reliable, however it is the responsibility of each bidder to confirm above information prior to auction.  This document to be incorporated into the Vacant Land Purchase Contract.

By signing below, the successful bidder agrees to the above terms and conditions, waives all inspections/surveys after auctioneer says “sold”, and agrees to agency disclosure that Cunningham & Associates Real Estate, LLC represents the seller exclusively.

*Please Note:  Buyers must read the terms and conditions of each property they are interested in prior to auction as the deposit amounts and/or who the cashier’s check is made out to may be different for each property to be sold in auction.