REAL ESTATE AUCTION

BANKRUPTCY

Auction held at:

Cunningham & Associates, Inc.

3138 W. Durango St.

Phoenix, AZ 85009

October 13, 2004 10:00 A.M.

NO BUYERS PREMIUM

NO RESERVE

SUBJECT PROPERTY:

• ·         Vacant land in Tonopah, AZ

• ·         APN:  401-57-378A and 401-57-380

• ·        Legal Description:  Harlaqua Ranches 2, lot 1 and lot 3 (adjacent lots)

• ·         Maricopa County Assessed Full Cash Value:  $6,000.00 (for both lots)                       

• ·         Lot size:  54,250 +/- square feet (1.25 +/- acres) and 54,670 +/- square feet (1.25 +/- acres) respectively for a total of 108,920 +/- square feet.

• ·         Zoned:  Residential

• ·         Houses and double-wide homes only, no single-wide mobile homes.

• ·         Utilities:  APS, Eagle Tail water company, TDS telecom.

• ·         These lots are on county maintained gravel roads.

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 10/14/04 12:00 P.M.  Close of escrow to occur on or before 10/30/04.  Buyer to pay all closing costs.  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, including title searches.   Above information is deemed reliable but it is the bidder’s responsibility to confirm this information.

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