Landcentral Exclusive Online Auction - July 1

NOTICE: AUCTION STARTS July 1, 2006 AT 10:00AM PST Credit Card submission for a pre-authorization of $500 is required for bidder approval. Your card is not charged unless you are a successful bidder; in which case $500 will be charged. Land Central Terms and Conditions Please read carefully before placing your Bid. All sales are considered sold and final. The highest bid shall be considered an agreement to buy and is final. Pre-Authorization There is no fee to register or to participate in this auction. Instead, participants agree to submit a Credit Card (All major cards accepted) for pre-authorization of $500. The Seller will then either authorize Participant’s bidding limit request and activate the Participant’s bidder status or contact the Participant via e-mail or phone with any questions necessary to confirm authorization. Seller reserves the right to refuse bidder authorization to participants who do not provide credit card pre-authorization. Participant understands that their credit limit will be reduced by $500 dollars for up to 72 hours. Participant’s card is NOT charged unless they are a winning bidder; in which case $500 dollars will be charged as a non-refundable documentation fee. Bidder understands and agrees that upon becoming a successful bidder, their card will be charged a $500 non-refundable documentation fee for EACH ITEM SUCCESSFULLY BID ON. If the participant is not a successful bidder, Seller agrees to release the pre-authorization on bidder’s credit card within 72 hours of the next workday. The credit card issuer may take longer to complete the release and in this instance Seller takes no responsibility for any and all release delays. Seller will NOT check Buyer’s credit and Buyer automatically qualifies for financing upon successful pre-authorization. Winning Bids All properties are being offered subject to Seller accepting the winning bid. Each winning bid will result in Bidder’s credit card being immediately charged $500 as a non-refundable documentation fee. On the first business day following the auction, Buyer will be mailed by overnight carrier all purchase documents. Buyer must sign LAND SALE AGREEMENT and pay all monies due in the form of money order, cashier’s check, personal check, business check, Paypal or American Express credit card. American Express is the only card accepted by Seller for payment of the down payment. Visa, MasterCard, Discover and American Express are all accepted for the $500 documentation fee ONLY. International Buyers must use Paypal as their form of payment. Buyers are required to return all documents and monies owed to Seller, and must be received by seller within 10 calendar days of the first business day after the auction. If the necessary documents and monies owed have not been returned in the allotted time, the Buyer agrees that their pre-authorized, non-refundable documentation monies become deemed liquidated damages and do not constitute a forfeiture or penalty. Buyer and Seller agree that this is a reasonable sum to be paid to the Seller in the event of a Buyer’s default. In the event of Buyer’s default, Buyer agrees to waive all rights to the transaction and shall have no further right or interest to the auction item. Further, in the event of a Buyer’s default they shall be banned from all future auction events with the Seller. All efforts by Buyer at charge-backs or stop payments could constitute fraud and the seller reserves all legal rights to pursue remedies available for such actions. Seller will also file negative feedback indicating a non-paying bidder if Seller does not receive proper payment within 10 calendar days of the first business day after the end of auction. Terms of Sale All of the properties being offered at the auction are for sale with seller financing. You may pay in full for any property, or you may finance it with us. We do not check your credit, and you do not have to qualify for financing. EVERYONE QUALIFIES FOR FINANCING, REGARDLESS OF YOUR CREDIT. You are bidding on the down payment only for these parcels. In addition to the down payment (your bid amount), you are assuming a loan on these properties. All Bids are subject to a 10% buyers premium. The Buyer’s premium is added to the winning bid and is payable as part of the full purchase price. When you are the successful bidder for a property, you have two ways to pay: #1 You may pay in full. For example, let's say you bid $600 for property #1. Remember, you're bidding on the down payment only. The math works like this: Bid Amount (Down Payment) $600 Buyers Premium 10% $60 Built-In Loan Amount $9,500 Closing/Recording Fee $500 Total You Pay at Auction $10,660 In this example, you paid in full, so you would not pay any monthly payments. #2 You may finance the property with us. In the example above, if you bid $600 for property #1, you would pay the following: Bid Amount (Down Payment) $600 Buyers Premium 10% $60 Closing/Recording Fee $500 Total You Pay at Auction $1,160 The balance of the purchase price (the built-in loan amount of $9,500) would be financed. Remember, we don't check your credit, and anyone may finance a property. In this example, the $9,500 would be financed for 5 years (60 months), at 12.9% interest. You would pay 60 payments of $215.67. Buyers will be required to pay state transfer tax on any properties purchased in California, Nevada, Washington and any other state where a transfer tax is customary. There is also an $8.00 per month processing fee for each property financed with us. When a monthly payment is paid it will first be credited to interest due and any outstanding late fees, then toward principle. There is no penalty for early payoff. A late fee of $25 or 10% of the monthly payment, whichever is greater, will be charged on any payment that is over 10 days delinquent. A returned check fee of $25 shall be charged for any check which is returned unpaid. All real property taxes that are due and payable up to and including the day of the Auction shall be paid by the Seller. If the property is being financed, then the property tax and homeowners association fees (if any) will be added to the monthly payment. If the property is being paid in full, the buyer shall be responsible for any taxes or fees due after the date of the auction. Warranties & Disclaimers The seller has made every effort to verify the accuracy of the information contained herein. However, errors do occur. All information was obtained from county maps or other sources deemed reliable, but is NOT guaranteed and may be in error. Seller does NOT warrant the accuracy thereof. Seller does Warrant that: (A.) Title to each property is a marketable title. (B.)There are no monetary liens on the property other than reoccurring assessments and bonds. (C.) No Trust Deeds are on the property unless otherwise disclosed. (D.) All taxes due on the property prior to the day of the Auction shall be paid by the Seller. (E.) Seller shall provide buyer with a Warranty Deed upon payment in full (Grant Deed in California.) Seller does NOT Warrant that and assumes no liability for any of the following: (1.) Utilities or lack thereof. Please contact the county the property is located in to answer all questions regarding available utilities. (2.) Mineral rights or lack thereof. (3.) Location and size of property. Only a surveyor can accurately ascertain a properties exact size and location. (4.) Zoning or building codes. Please contact the county the property is located in to answer all questions regarding available zoning or building code. (5.) Access or lack thereof. Seller makes no representations regarding streets that may appear on any maps. (6.) Bonds for water, sewer, street improvements, association fees and /or any city or county assessments which are to be assumed by the buyer over and above the sales price. (7.) Physical encumbrances discernable by physical inspection of the property. All parcels are sold “AS IS, WHERE IS AND WITH ALL FAULTS” condition as of the date of the Auction. (8.) Any claims or actions resulting from the construction of any such improvements on any property. Buyer(s), at Buyer(s) expense shall obtain title insurance before making any improvements on any property. If buyer discovers a violation of the above guarantees, and seller is unable to remedy such violation within a reasonable period of time, then buyer's sole remedy shall be limited to cancellation of the sale, and a refund of all refundable monies paid by buyer to seller. These warranties extend only to the purchaser, and do not extend to third parties. As seller, we do not warrant, and we assume no liability for any of the following: (A) Encumbrances which are identifiable via a physical inspection of the parcel. (B) Utilities or lack thereof. Contact the City or County building department for information on utilities. (C) Mineral rights or the lack thereof. (D) Location and size of the property. Sizes advertised are approximate. (E) Assessments and/or bonds for utilities or homeowner's association dues/fees. (F) Zoning or building codes. Contact the City or County building department. (G) Access. Seller makes no representation or guarantee regarding physical and/or legal access. Feedback on eBay© Positive Feedback on eBay is appreciated and will be reciprocated by Seller. If positive feedback is received by Buyer on eBay, Seller will leave positive feedback for Buyer on eBay following successful completion of transaction. Negative feedback is strongly discouraged unless Buyer has exhausted any and all efforts with Seller to reasonably settle any dispute. If for any reason Buyer is not satisfied with their purchase, Buyer agrees to first contact Seller immediately to resolve any issues. If Buyer does not contact Seller before leaving Negative Feedback, Seller shall leave Negative Feedback accordingly. Governing Law and Jurisdiction These Terms and Conditions, as well as Buyers’ and Sellers’ rights and obligations hereunder shall be governed by and construed and enforced in accordance with the laws of the State of Oregon, United States of America. By registering and by bidding on the auction items included herein, whether present in person or by agent, telephone, online or by any other means, the Buyer shall be deemed to have consented to the jurisdiction of the state and federal courts located in the state of Oregon, County of Multnomah, U.S.A. Buyer is entering into a binding contract. There are no refunds or bid cancellations. The registered bidder is personally responsible, legally and financially for all auction items bid upon whether representing one’s self or acting as an agent. An online bid accepted at public auction is a legal and binding contract to purchase.

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