• DO NOT BID unless you have read the Williams & Williams Terms & Conditions of Sale, the Contract for Sale, Property Disclosures, all available due diligence materials, and the Auction Day Notes for each property. BY PLACING YOUR BID, YOU AGREE TO BE BOUND BY THE PROPERTY SPECIFIC CONTRACT FOR SALE, DISCLOSURES, AUCTION DAY NOTES, AND THE WILLIAMS & WILLIAMS TERMS & CONDITIONS OF SALE.

• Due diligence materials (environmental, survey, title, contract, etc.) available under cover of CNRA.

• See “Closing Costs” paragraph of the Contract for additional closing costs associated with this property.

· Deed Restriction Disclosure.  Purchaser herein acknowledges that the Property is subject  to certain covenants, conditions and restrictions (“CC&Rs”), including, but not limited to, any CC&Rs listed on the Commitment and provided for in the Permitted Exceptions attached hereto in Exhibit C and, specifically, that certain Declaration of Covenants, Conditions and Restrictions document dated as of October 15, 1981 and recorded in Docket 15578, Page 444 in the public records of Maricopa County, Arizona.  Purchaser further acknowledges and agrees that Seller does not make any representations or warranties as to whether Purchaser’s future use of the Property will be in compliance with such CC&Rs and Purchaser shall indemnify and hold Seller harmless from and against any and all claims, costs, damages, or other liability, including attorney’s fees, incurred by Seller as a result of Purchaser’s non-compliance with such CC&Rs.   This Section shall survive the Closing.

• Buyer acknowledges that Bank of America employees and their spouse, domestic partners, dependent children and business entities in which an employee has an interest are prohibited from purchasing the properties.

• No Buyer Broker compensation will be offered

• All properties are sold "AS IS, WHERE IS" with no financing, inspection or other contingencies to sale.

• Escrow. Buyer acknowledges receipt of the Joint Escrow Instructions that modifies the Contract for Sale to provide for a designated Escrow Agent to hold down payment funds. Buyer and Seller agree that the Escrow funds may be held in a trust/escrow account located outside of the state where the Property is located.

· Property Tax Disclosure Summary: Buyer Should Not Rely On The Seller’s Current Property Taxes As The Amount Of Property Taxes That The Buyer May Be Obligated To Pay In The Year Subsequent To The Purchase. A Change Of Ownership Or Property Improvements Triggers Reassessments Of The Property That Could Result In Higher Property Taxes. If You Have Any Questions Concerning Valuation, Contact Property Appraiser’s Office For Information.

· Square Footage/Acreage Disclosure. The source of the square footage or acreage represented for the property is from public record. Buyer understands and acknowledges that square footage or acreage measurements of a property can vary from a few feet to several hundred feet regardless of source (County Assessor’s records, appraisal or appraisal measurement report, survey, etc.). Buyer shall be solely responsible for satisfying that the size and/or square footage or acreage of the property is acceptable to the Buyer.

• Personal Property Not Included.  Only title to the real estate is being conveyed. Personal property may be present, but is not included in the auction. Removal of personal property remaining on site at the time of closing is the responsibility of the Buyer.

· Zone, Code, and Use Disclosure.  Buyer acknowledges that the Property shall be purchased “AS-IS, WHEREIS, WITH ALL FAULTS.” The Property may be subject to city, village, and/or county code or zoning violations, and Buyer accepts the property subject to any such violations.  Buyer agrees to conduct an independent search of all property records in the city, county, and/or village prior to bidding and has bid accordingly.  Buyer shall be responsible for any and all required remediation of the property, if any.  Buyer shall not rely on any information provided by the Seller or Williams & Williams regarding the status of any code or zoning violations, and shall base its decisions on its independent inspection.  Buyer also acknowledges that the property may be subject to city, village, and/or county occupancy regulations and requirements which may impact the current and/or future use of the properties.  Buyer acknowledges that the seller and Williams & Williams make no warranties of any nature, express or implied, as to the permitted uses of the property, and any prohibition of buyer’s intended use of the property shall not be a grounds for terminating the contract.

• Pictures may not reflect specific parcel, entire parcel, or current conditions of any structures that are present.

· Septic Inspection.   Buyer acknowledges that a state mandated septic inspection may be required prior to conveyance of the Property.  If required, Buyer understands that Seller will order the inspection, and the inspection must be completed prior to closing. Buyer agrees to comply with all requirements to obtain any necessary permits, and shall make arrangements to correct any noted violations at Buyers expense, accepting all responsibility for any remediation, fees, or terms required. Buyer is responsible for submitting a notice of transfer form within 15 days of closing. Buyer acknowledges and understands that neither Seller, Williams & Williams, nor its agents make any assertions or guarantees as to the condition of any septic system, and Buyer is purchasing this property "as-is, where-is". Buyer should conduct an investigation into cost of compliance with septic requirements prior to bidding.

The Land referred to herein below is situated in the County of Maricopa, State of Arizona, and is described as follows:  THAT PORTION OF THE NORTHEAST QUARTER OF SECTION 17, TOWNSHIP 1 SOUTH, RANGE 5 EAST, GILA AND SALT RIVER BASE AND MERIDIAN, MARICOPA COUNTY, ARIZONA, MORE PARTICULARLY DESCRIBED AS FOLLOWS:  COMMENCING AT THE NORTHEAST CORNER OF SAID SECTION 17; THENCE ALONG THE EAST LINE OF SAID SECTION 17, SOUTH 01 DEGREES 50 MINUTES 53 SECONDS EAST, A DISTANCE OF 50.00 FEET; THENCE ALONG A LINE PARALLEL WITH THE NORTH LINE OF SAID SECTION 17, SOUTH 88 DEGREES 14 MINUTES 42 SECONDS WEST, A DISTANCE OF 33.00 FEET TO A POINT ON THE WEST RIGHT OF WAY LINE OF NORTH ALMA SCHOOL ROAD AND THE TRUE POINT OF BEGINNING; THENCE ALONG THE SAID WEST RIGHT OF WAY LINE, PARALLEL WITH AND 33.00 FEET WEST OF THE EAST LINE OF SAID SECTION 17, SOUTH 01 DEGREES 50 MINUTES 53 SECONDS EAST, A DISTANCE OF 220.00 FEET; THENCE ALONG A LINE PARALLEL WITH THE NORTH LINE OF SAID SECTION 17, SOUTH 88 DEGREES 14 MINUTES 42 SECONDS WEST, A DISTANCE OF 202.36 FEET; THENCE NORTH 01 DEGREES 45 MINUTES 18 SECONDS WEST A DISTANCE OF 220.00 FEET TO A POINT ON THE SOUTH RIGHT OF WAY LINE OF WEST ELLIOT ROAD; THENCE ALONG THE SAID RIGHT OF WAY LINE, PARALLEL WITH AND 50.00 FEET SOUTH OF THE NORTH LINE OF SAID SECTION 17, NORTH 88 DEGREES 14 MINUTES 42 SECONDS EAST, A DISTANCE OF 202.00 FEET TO THE TRUE POINT OF BEGINNING. EXCEPT THAT PROPERTY AS SET FORTH IN FINAL ORDER OF CONDEMNATION RECORDED JULY 25, 2001 AS 2001-0665292 OF OFFICIAL RECORDS.