THIS AUCTION HAS BEEN POSTPONED FROM THE ORIGINAL AUCTION DATE OF 8/30 DUE TO HURRICANE ISAAC. The new auction date is Sat, Sept 8, 2012, 10AM Property will be sold to the highest bidder(s) on auction day subject to owner confirmation and/or Bankruptcy Court Approval, which ever applies. High Bid plus 10% Buyer Premium will determine contract price. Successful bidder shall deposit irrevocable earnest money to equal the 10% down payment within 24 hours of the auction, to be credited to buyer at closing on or before October 9, 2012. All properties are Sold without buyer contingency of any kind, have financial arrangements secured prior to bidding. Marketable title conveyed by Special Warranty Deed, subject to any easements, restrictions and reservations of record. Possession given upon closing. 2012 taxes will be prorated to closing date based on the 2011 tax levy. Rental income on 1905-07 Washington Avenue also pro-rated to closing. Descriptions and information are from sources deemed reliable, however, neither Seller nor Auctioneer/Brokers are making any guarantees or warranties, actual or implied. Property sold "AS-IS" with “Waiver of Redhibition” therefore, buyers are encouraged to inspect the property to the extent deemed necessary, both on and off premise and rely on your own judgment when bidding. It is the Bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. ServCorp International, Inc/Sencore Properties will attempt to describe the properties in advertising, on the Internet auction but makes no representations. In no event shall ServCorp International, Inc or Sencore Properties be held responsible for having made or implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge of value. Bidders who bid from off site and are not present at the preview understand and acknowledge that they may not be able to inspect the property as well as if they examined it in person. It is the Bidder’s responsibility to determine condition, age, genuineness, value or any other determinative factor. ServCorp International, Inc./Sencore Properties shall endeavor to describe the property in detail and any pertinent information. Auctioneer - Brokers are representing the Sellers’ interests in this transaction. Announcements made at the auction take precedence over any printed material or prior representations. ADDITIONAL TERMS & CONDITIONS OF REAL ESTATE AUCTION: Sencore Properties & ServCorp International Inc., herein referred to as auctioneers, reserves the right to deny or revoke any buyer or seller at any time, without notice or consent at their sole discretion. Defaulting or fraudulent bidders are responsible for auction commissions, loss of earnest money, collection and/or attorney fees, and may be reported to authorities. Auctioneer reserves the right to add or remove any property from the auction and make alterations to any auction listings or terms & conditions at any time. All properties will be sold with a reserve and are subject to the Seller’s confirmation or Bankruptcy Court approval, which ever applies. Auctioneers at their discretion will have the final say as to disputes among bidders and sellers. Auction day announcements supersede written terms and conditions. All auction participants must be of legal age and properly registered in order to bid or sell. Any person buying or selling on behalf of another person or entity must have a valid, legally enforceable, unexpired, recordable Power of Attorney approved by AUCTIONEER prior to the auction. If a Bidder is bidding on behalf of a corporation, the bidder shall be individually bound until the bidder presents a corporate resolution prior to closing. The act of bidding is deemed a representation and warranty to the Seller and Auctioneer that he/she has read the “Agreement to Purchase” and the “ Auction Terms and Conditions” in its entirety, including addendums or amendments, prior to bidding. If a bidder has not read and agreed to be bound by these documents, he/she should not bid. Sellers reserve the right to accept or reject any offers at their sole discretion, regardless of the manner in which they are received. High Bids for properties in Bankruptcy will be held accountable for up to seven (7) business days while the Trustee/Owners/attorneys have time to evaluate the offer and communicate the decision back to ServCorp/Sencore. No offer shall be deemed fully accepted until the “Real Estate Agreement to Purchase Contract” is signed by both parties. All bidders must be prepared to pay a 10% buyers’ premium in addition to the final high bid amount equaling the properties Total Contract Price. A successful bidder must, 1.) Complete an Agreement to Purchase Contract immediately following the auction. 2.) Pay the stated Earnest Money Deposit in the form of a bank wire. 3.) Close on the property within thirty (30) days of the auction. If a high bid is not accepted by the seller, all earnest money will be promptly refunded. All properties are sold with cash contracts, and are NOT CONTINGENT UPON FINANCING. ServCorp International, Inc. is providing Internet online bidding as a service to Bidder. Bidder acknowledges and understands that this service may or may not function correctly the day of the auction. Under no circumstances shall Bidder have any kind of claim against ServCorp International, Inc or anyone else if the Internet service fails to work correctly before or during the auction. ServCorp International, Inc. will not be responsible for any missed bids from any source. Internet bidders who desire to make certain their bid is acknowledged should use the proxy-bidding feature and leave their maximum bid 24 hours before the auction begins. ServCorp International, Inc. reserves the right to withdraw or re-catalog items in this auction. This is a ServCorp International, Inc./Sencore Properties Joint-Venture Auction. Penny Mutz, CAI, Broker, Auctioneer, LA 655-12. Penny Mutz is licensed by the LA & MS Real Estate Commissions.