SPORTSMAN MOTEL REAL ESTATE AUCTION, LINCOLN, MT

General Motel Description: 9 units, each room measures 20’ x 20’ Each room has its own wood fireplace and gas wall heater. Water source: Private well; City sewer Brick structure; metal roofing Utililties: Average $1500 per month, includes motel and managers quarters usage Motel occupancy for the last 5 years has ranged from 48% to 55%. Financial records will be provided to serious and qualified prospective buyers. Lot size: 28,482 square feet Many updates and improvements since 2004. Manager’s Quarters: 2 bedrooms and 2 full baths. Efficiency apartment on the upper level was new in 2001. Water: water well Septic: City sewer system Attached 2 car garage, Exterior walls: Brick and masonite TERMS & CONDITIONS: Cash to seller at closing. EARNEST MONEY: Earnest money, in the amount of $10,000, in the form of cash or check, due and payable immediately following the auction. Earnest money is non-refundable. Successful internet bidder must wire the earnest money to auction company’s trust account within 24 hours. CONTINGENCIES: This property sells without contingencies. Prospective buyers must have financial arrangements made prior to bidding. TITLE INSURANCE: Sellers to provide the Buyer with Title Insurance. TAXES: $3,962.61 per year, prorated to the date of closing CLOSING FEE: Sellers and Buyers will share equally the closing agent closing fee, not to exceed $150 per party. CLOSING: On or before July 11th, 2009 AGENCY: The Auctioneers are working solely as the agents for the Sellers. POSSESSION AT CLOSING SELLERS RESERVE THE RIGHT TO APPROVE OF THE FINAL BID. VIEWING: By appointment with the Auctioneers, Jayson Shobe @ 406-538-5125 or Kyle Shobe, 406-366-0472