Custom Home Site, Canyon Pass, Marana AZ

Internet Related Terms & Conditions (in addition to standard onsite Terms & Conditions .... listed below. There will be a 10.5% (ten and one-half percent) online Buyer's Premium added to the high bid to make the Total Purchase Price of the property. Internet bidders are required to submit a Bidder Registration deposit of $5,000 no later than 5pm (MST) Thursday December 4, 2008 in order to be issued a Bidder Registration Number and bid online at the auction. This must be in the form of certified check, US funds, made to Tranzon Asset Strategies. Bidders who bid from off site and do not preview the property before bidding understand and acknowledge that they may not be able to inspect an item 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. Tranzon Asset Strategies shall endeavor to describe in detail each item and any pertinent information about it. Tranzon Asset Strategies is providing Internet pre-auction and live 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 Tranzon Asset Strategies or anyone else if the Internet service fails to work correctly before or during the live auction. Tranzon Asset Strategies 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. Tranzon Asset Strategies reserves the right to withdraw or re-catalog properties in this auction as well as convert the timed-event auction into a realtime interactive webcast auction competing with bidders onsite December 6th, 2008. All Bidders are encouraged to review all available information about the properties, including requesting the Property Information Package by calling 1-949.727.9011 or dowloading from the Tranzon.com website. The Property is offered by Tranzon Asset Strategies ("Auctioneer"), as Seller's agent, subject to the following Terms and Conditions of Sale. In consideration of being permitted to bid at the Auction, the undersigned agrees as follows: TERMS AND CONDITIONS Amended 11/16/2008 1. Tranzon Asset Strategies, in association with John Hughes, Jr, Arizona Broker SE510704000, is conducting the Auction Sale of the real estate described as ±1.070 acres located at 15247 N. Humming Hill Place, Marana, Pima County, Arizona. (APN 218-40-1900). The auction will be held at The Clubhouse at Heritage Highlands Golf Club, 4949 W. Heritage Club Blvd, Marana, AZ on Saturday, December 6, 2008 at 11:30 AM MST. The sale will be offered with a Minimum Bid of $199,900. Online Buyer’s Premium of 10.5% will be added to the High Bid 2. Bids on the real estate will be accepted only from Qualified Bidders who attend the Auction and have in their possession a cashier’s check, made payable to themselves, in the amount of Five Thousand Dollars ($5,000.00). 3. Once a bid is received by the Auctioneer, advances on that bid must be made in increments at least as great as those which the Auctioneer, at his sole discretion, shall designate as being necessary to surpass the last bid acknowledged by the Auctioneer. Should there be any dispute among competitive bidders for the property, the Auctioneer may reopen bidding on the property or he may, at his sole discretion, designate one of the bidders as the successful bidder. All decisions by the Auctioneer shall be final. 4. The successful bidder will be required to sign a Purchase Agreement and other documentation concerning the property immediately upon the completion of the Auction. These documents will contain the precise terms and conditions of the sale. Copies of said documents shall be available through the Auctioneer’s office. 5. At the conclusion of bidding on the property, the successful bidder will be required to confirm its bid amount and tender its $5,000.00 cashier’s check. The successful bidder(s) will also be required to tender any necessary additional deposit to bring its total deposit to an amount equal to ten percent (10%) of the total purchase price on the day of sale. The additional deposit may be by company or personal check and made out to “Title Security Agency of Arizona”. Ref: Escrow 400-590-PT. 6. The sale will not be contingent upon obtaining financing and will not be extended for that purpose. Purchasers who fail to qualify for that reason or any other reason will be required to release their entire deposit to Seller as liquidated damages. 7. All bidders are encouraged to personally inspect the property and documentation relating thereto. The property is being sold “as-is, where is” with no representations or warranties whatsoever. The sale is not contingent upon inspection and will not be extended for that purpose. Neither Seller, Broker nor Auctioneer makes any warranties or representations, either expressed or implied, concerning the property included in the sale. Neither Seller, Broker nor Auctioneer shall be liable for any relief, including damages, rescission, reformation, allowance or adjustment based on the failure of the property to conform to any specific standard or expectation. Tranzon agents will be onsite to answer questions and show the property by appointment only, access to the properties located within Canyon Pass is restricted to residents; guest must be escorted, no exceptions. Contact John Hughes at 520.907.6792 to arrange for property inspection. 8. The sale will be fee simple title, as is, with a standard coverage title policy available at Seller’s expense, subject only to current taxes, assessments, easements, rights-of-way, conditions, restrictions, other matters of record and any printed exceptions specified in the preliminary title report. 9. Sale must close by January 6, 2009 unless extended by the Seller, at its option, in writing. In certain cases, the Seller may, for a fee or an increased deposit, grant an extension of the closing date. Requests for extensions must be made at least five days prior to the scheduled closing date. All extension requests are evaluated by the Seller on a case-by case basis and are solely at Seller’s discretion. Purchasers who fail to close in a timely manner shall forfeit their deposit(s) as liquidated damages. Seller retains the unilateral right to cancel escrow and retain the deposit in the event buyer fails to close as per the contract. Title Security Agency of Arizona, 1790 E. River Road #233, Tucson, AZ 85718 is the Escrow Company in this transaction. Ms. Paula Trimmer, Branch Manager/Escrow Officer (520) 577-8414 10. With exception to Seller-paid Standard Title Insurance, the buyer will be required to pay all closing costs, including, but not limited to, document preparation fees, documentary transfer tax, recording fees, property tax pro-rations, title fees, and closing fees. 11. Broker participation is welcomed. You must be a licensed Arizona Real Estate broker and complete the Broker Registration Agreement. A referral fee of 3% of the written opening bid plus 1% of the difference to high bid will be paid to the licensed real estate broker whose prospect pays and closes on the property. To qualify for a referral fee, the real estate broker must: (a) be a licensed Arizona real estate broker who will abide by the National Association of Realtors Code of Ethics, (b) first register the prospect by completing the Broker Registration Agreement (available from the Tranzon Asset Strategies office) and returning it by fax to 520.844.6331 prior to 5pm December 4, 2008 and the registration form must be (1) signed by the prospect; (2) received before any inspection of the property by the prospect. The agent must be present at the auction to submit the bid with their prospect. Each agent must submit a copy of the form when their prospect registers for the auction. A complete registration file on all prospects will be maintained. No broker will be recognized on a prospect who has previously contacted or been contacted by the Sellers or their representatives. Referral fees will only be paid upon closing and receipt of commissions by Tranzon Asset Strategies. No referral fees will be paid if the agent or a member of his immediate family is participating in the purchase of the property and an affidavit will be required that the agent is serving only as broker and not as a principal. 12. The Auctioneer reserves the right to deny any person admittance to the Auction, to postpone or cancel the Auction, to withdraw the property from the Auction and to change any terms of the Auction or particular conditions of sale upon announcement prior to or during the course of the Auction. 13. The information contained in the information package is subject to inspection by all appropriate parties. No liability for its accuracy, errors, or omissions is assumed by the Auctioneer or its Agents, the Brokers, Seller or its agents. Prospective bidders should independently verify any information being materially relied upon in making a purchasing decision. 14. Only the Purchase Agreement shall set forth Seller's obligations to the successful Bidder. 15. The auction is being conducted pursuant to all local and state laws. 16. If you are unable to attend the auction event and still want to bid by telephone or online, Tranzon Asset Strategies will facilitate your request, providing that you qualify with the Auctioneers within a 48-hour time period prior to the auction. This option will be subject to available telephone service at the auction site. All phone bidders must sign an affidavit stating that they have inspected the property prior to bidding. In addition, online bidding is available through www.Proxibid.com. Online bidders must comply with ProxiBid terms and conditions in addition to the Auction Terms & Conditions as set forth herein. 17. Bidders participating through proxibid.com, the on-line bidding agent, will be subject to the on-line bidding agent’s terms as well as additional terms mandated by the Auctioneer. This information is available at the on-line bidding agent’s website. Auctioneer is providing Internet pre-auction and live 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 assert any claim against Auctioneer or its agents, the brokers, seller or its agents or anyone else if the Internet service fails to work correctly before or during the live auction. Auctioneer 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.