NO BUYERS PREMIUM

NO RESERVE

November 9th, 2005 10:00 A.M.

SUBJECT PROPERTY:

BANKRUPTCY

• 5.4-acres in Fruitland, NM

• San Juan County ID:  R0083017

• Address:  42 CR 6700, Fruitland, NM

• Lot Size:  5.434 +/- acres

• Legal description:  Check attached document

TERMS:  $1,000.00 cash/cashier’s check deposit made out to bidder 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 11/10/05 12 P.M. or forfeit deposit.  All bidders are encouraged to personally inspect the subject property prior to auction as this property will be sold “as is” and “where is”.  Sale is subject to Bankruptcy Trustee approval.  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.  Bankruptcy Trustee will make available a Trustee’s Deed to the buyer within 2 weeks of the auction.  Above information is deemed reliable, however it is the responsibility of each bidder to confirm above information prior to auction.

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.