AUCTION TERMS AND CONDITIONS                        
        

GENERAL TERMS OF SALE

1. GENERAL INFORMATION

The placement of a successful bid at this auction establishes a legally binding
contract between the successful bidder and the SELLER.  The auctioneer's
announcement of the high bid amount and the bidder's number establishes the
contract, which is subject to final acceptance by the Seller.  This contract
is bound by these Terms and Conditions.  The successful Bidder is legally
bound to pay for property awarded in accordance with his/her bid.

Claire Hunter Realty, Inc. is acting as the agent for the SELLER with respect
to the sale of real property at this auction. Claire Hunter Realty, Inc., may
videotape the auction and record sealed bids to assist in any future contract
resolution actions

2. ELIGIBILITY OF BIDDERS

The Bidder warrants that he/she is not:

a) Under 18 years of age;
b) An employee or agent of SELLER;
c) An agent or immediate member of the household of SELLER.;
d) An employee, contractor or subcontractor of Claire Hunter Realty, Inc, who
   has access to information concerning the property to be sold at auction
   that is not generally available to the public.

3. REGISTRATION OF BIDDERS

Persons wishing to participate in the bidding process of the sale are required
to obtain, fill out and deliver a bidder registration form during the
registration process for the sale. Click here to view
Bidder Registration Form. This form can be printed out and completed prior
to the auction.  You do not need to mail or fax the completed form, just bring
it to the preview or auction to register.  The form will also be available at
the auction.

In the event a person is bidding on behalf of another party, an original
notarized Power of Attorney must be presented at the time of registration.
Power of Attorney must include the buying party's social security number.

An individual's signature on the bidder registration form is an acknowledgement
of his/her full understanding of all terms and conditions and his/her agreement
to be bound thereby.  Thereby, bidders are cautioned to read all applicable
terms and conditions contained in this document and the sales flyer before
signing the Bidder registration card.  Bidders must present a photo ID and
evidence of earnest money deposit in the form of a cashier's check or
certified check made out to Claire Hunter Realty Escrow as a prerequisite of
registration.

Each registered Bidder will be issued a Bidder number upon completion of the
registration process.  Each bidder is solely responsible for the use of his/her
Bidder number and any use by another person is presumed to be with the
consent of and contractually binding on the registered Bidder.

The registrant agrees that, should the registrant be the successful Bidder
of this property, the following information regarding the transaction shall
be published on the Claire Hunter Realty, Inc. website: 1) The registered
Bidder's name; 2) the property's address; 3) the purchase price of the
property.

4. INSPECTION OF PROPERTY

The Bidder is invited, urged, and cautioned to inspect the property prior to
submitting a bid.  Failure to inspect property shall not constitute cause for
the cancellation of sale.  Property will be available for inspection / open
house at the times published by Claire Hunter realty, Inc.  Other than the
scheduled inspection / open house dates, absolutely no access to the property
will be allowed without prior authorization by Claire Hunter Realty, Inc. At
their own expense, potential bidders may have property inspectors examine the
property during regularly scheduled inspection / open houses.



5. ORAL STATEMENTS AND MODIFICATIONS

Changes may be made on the day of the sale, to the property status or
descriptions in the sale flyer.  These changes take precedence over previous
sale flyer information pertinent to that property, but do not alter in any
way, the basic terms and conditions of sale.
Further, no interpretation of any provision of the sale contract, including
applicable performance requirements, shall be binding on the SELLER unless
furnished to and agreed upon by SELLER.

6.  WITHDRAWAL / ADDITION OF A PROPERTY
 
SELLER reserves the right to withdraw from sale the property listed in the
sales flyer or to sell at the auction, property not listed.

7. REAL PROPERTY DESCRIPTIONS

The Bidder understands and agrees that the property is offered, purchased
and accepted by the BUYER in "AS IS" and "WITH ALL FAULTS".   The SELLER and
Claire Hunter Realty, Inc., make no warranties or guarantees whatsoever
whether written, oral or implied as to quality, condition or habitability.

All information contained in the sale flyer was derived from sources believed
to be correct, but there is no guarantee.  Buyer acknowledges that he / she
relied entirely on his / her own, judgement and inspection of the property.

If a legal misrepresentation is determined before the final closing on the
property, the SELLER reserves the right to cancel the sale and refund any
earnest / deposit money paid.

Properties built prior to 1978 have been tested for lead-based paint.  The
Disclosure of Information on Lead-Based Paint and Lead Based Paint Hazards
will be available, if appropriate, at scheduled viewing times.

Due diligence information pertaining to the property offered for sale will
be made available during the scheduled viewing(s).  Buyer acknowledges
responsibility for all costs associated with the abatement and remediation
of any disclosed or potential hazards associated with the property.

8. PROPERTY FOR AUCTION AND SUBMISSION OF BIDS

The auctioneer will offer each property in accordance with sales flyer
sequence or by special announcement.  Bidders will communicate their bids
orally and by raising their number card, or by such other means as may be
specified by the flyer or the auctioneer.

Property will be sold to the highest bidder when the SELLER accepts the
bid amount unless the bid or Bidder is rejected as provided herein.  If
the high bid does not exceed the SELLER's reserve price, and the SELLER
does not waive or lower the reserve price, the auctioneer will close the
bidding.

The Bidder who placed the bid accepted by the SELLER, is legally bound to
pay for property awarded to him / her in accordance with the successful
bid.  Payment of the full purchase price must be made within the time
specified in the sales flyer / brochure.

Once the auctioneer accepts a bid, a contract is established and that
successful Bidder may not withdraw the bid.  The auctioneer will not
accept unilateral conditions asserted by any bidder.

In the vent of a dispute as to a final bid amount, the SELLER reserves
the right to review the video tape of the auction for clarification or
to re-offer the property in question.

Once the SELLER accepts a bid, a final written sales contract will be
prepared to include the individual information of the high Bidder along
with the accepted bid amount.  A contract will also be established with
the recognized back-up Bidder for execution if the high Bidder defaults
for any reason or is rejected by the SELLER.

9. WRITTEN BIDS

Written bids may be delivered by the Bidder or by registered mail,
overnight delivery service or by agent of the Bidder.  The written bid
must comply with all requirements stated for a written bid in the sale
flyer and must be accompanied by the Bidder's contact information or
completed Bidder Registration Form, written bid amount clearly stated,
a cashier's check (s) for each property, as appropriate.  Written bids
with all required documents must be received by the time specified.
Claire Hunter Realty, Inc. and SELLER accept no responsibility for any
carrier's failure to deliver written bids by the deadline. Written bids
will not be disclosed prior to the auction.

10. ELECTRONIC BIDS

At this time, there will be no electronic bidding.

11. COLLUSION

Practices that eliminate competition, such as collusive bidding, may
result in criminal, civil and / or administrative action against the
participants.

12. CONSIDERATION OF BIDS

The SELLER reserves the right to reject any and all bid, and to waive
any technical defects in bids.  Property is sold with a minimum reserve
price unless the property is, in explicit terms, offered without a
minimum reserve price.  The minimum reserve price is not released to
the public.  If the minimum reserve price is not achieved, the SELLER
may withdraw the property at any time before the sales contract is
executed.

13. FORM OF PAYMENT

Acceptable forms of payment are a cashier's or certified check made
payable to Claire Hunter Realty Escrow.  Personal or business checks,
bank letters, or letters of credit are not acceptable.  All cash
payments of $10,000 or more will be reported to the IRS in accordance
with 26 USC 6050 Section I (d).  In order to comply with this
requirement, Bidders must provide their Social Security Number at the
time of Bidder Registration to facilitate the completion of IRS Form
8300.

14. FINANCING

This is a cash sale.  The buyer is responsible for obtaining his / her
own financing arrangements as required.  Claire Hunter Realty, Inc.
does not provide financing for the purchase of any property offered
under these terms and conditions.  Bidders are strongly recommended
to investigate and secure financing arrangements, if required, prior
to attendance at a public offering.

Failure to obtain financing during the closing process does not relieve
the buyer of his/her legal responsibility and obligation for completion
of the contract. Failure to comply with all provisions of the sales
contract regarding closing may result in termination of the contract
because of the buyer's default and may result in the forfeiture of any
earnest / deposit funds.

15. DEPOSITS

Deposits, as defined in the applicable sales flyer,  will be made by
the high Bidder immediately upon conclusion of the bidding process.  In
addition, the back-up Bidder will also make deposit as defined in the
applicable sales flyer.  If you are not the high Bidder or second high
Bidder, we do not collect your deposit.

16. CLOSING

In addition to the forms of payment listed in paragraph 13 above, bank
wires can be used for final payments.  All final payments must be made
by the date specified in the sales flyer or the Bidder can be placed in
default of the contract.


17. APPLICABLE TAXES

Buyer is responsible for payment of any or all applicable taxes imposed
by any state, county or political subdivision as specified in the flyer.

18. TITLE

A Warranty Deed as specified at the time of sale will convey title to
the property to the buyer at time of closing.  SELLER will provide Title
Insurance to the buyer at closing.

19. DEFAULTS

Failure to make required deposit or final payments and / or comply with
the time frames specified in the sales flyer shall be deemed default of
the high Bidder and may result in cancellation of the contract and
forfeiture of any rights, title, and interest the Buyer may have acquired.
In that case, title of the property will remain with the SELLER and will
result in the forfeiture of the deposit.  If the default occurs because
of failure to make the deposit required, the Buyer shall be liable to the
SELLER for liquidated damages in the amount of the that deposit.

20. COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS

It is the Buyer's responsibility to ascertain and comply with all
applicable Federal, state, local and multi-jurisdictional laws, ordinances
and regulations pertaining to the registration, licensing, sale, use or
disposal of the property purchased.

Buyers of real property are not excused from any violation of such laws.  

Buyer must comply with all environmental restrictions or obligations that
are incurred as a result of the purchase of real property.

END

AUCTION GENERAL TERMS OF SALE


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AUCTION GENERAL TERMS OF SALE








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