#1 • Terms and Conditions

Part of Trustee's Sale (live auction by Watts Auctions Realty Appraisals)

Status: No sale

TERMS OF SALE Bidders must have their bidder's deposit of ten percent (10%) of the price bid in cash, cashier's check or certified funds payable to LTX Reconveyance 2, LLC in hand. Bidders must present that deposit to the Trustee for review upon demand and be prepared turn over that deposit upon entry of the highest bid, which will be accepted subject to confirmation of the bidder's deposit. Any bid tendered without a bidder's deposit in hand will be rejected. Bids will be accepted in minimum increments of $100.00 or such higher amount as the Trustee deems appropriate for the property. The property is being sold as is, where is, without any representation or warranty of any kind, which terms are used in the commonly understood sense, and are elaborated by definition on this document below. All bidders recognize and agree that the property may currently be occupied, is not within the control of the Trustee or Noteholder, and that neither is obligated to obtain possession of the property for the successful bidder. Risk of loss from fire, vandalism, criminal activity or any other form of casualty whatsoever shall pass to the successful bidder at the conclusion of the bidding, and shall not relieve the bidder from their obligations hereunder. Bidders should take notice and consider obtaining insurance, which shall be at their own cost. The successful bidder is prohibited from initiating or completing any repairs, modifications or alterations to the aforesaid property, and should not incur any significant costs in connection with the premises until the balance of the bid price is paid in full. All taxes, rents and assessments, if any, will be prorated through the date of the sale and will thereafter be the sole responsibility of the successful bidder. The successful bidder shall be responsible for all costs of conveyancing, state and local recording fees, grantor taxes, notary fees, etc. Costs will be incurred for bank wire transfers, which costs shall be the sole responsibility of the Purchaser. If the successful bidder elects to use a settlement company, there will be a $295.00 charge for document review and coordination with that settlement company, which cost shall be borne by the purchaser and paid at settlement. Upon payment of all sums due hereunder, the Purchaser will receive a Trustee’s Deed in Foreclosure which will be a special warranty deed subject to all existing superior liens and encumbrances. TIME IS OF THE ESSENCE in the settlement of the successful bid. The full price bid must be remitted by cashier’s check or certified funds or by bank wire within fourteen (14) days from the date of this sale to the offices of LTX Reconveyance 2, LLC. There are no contingencies for title insurance or financing in this contract. If the successful bidder fails or refuses to settle on the date or in the manner aforesaid, then the bidder shall, without further notice, be in default, the deposit shall stand absolutely and totally forfeit and said bidder shall have no further right or claim against the subject property. The deposit may be applied to costs of sale such as publication and advertisement and the balance shall be retained by Trustee as compensation in connection with the sale. Upon default, the Trustee may sell the real estate to the second highest bidder or may re-advertise and resell the property in the Trustee’s sole discretion. The successful bidder shall be responsible for any deficiency on such a resale and said deficiency may be recovered by the Trustee as damages together with the reasonable attorney’s fees and costs sustained by the Trustee in any proceeding to collect said sums. Sale is subject to post-sale confirmation that the borrower did not file for protection under the U.S. Bankruptcy Code prior to the sale, as well as to post-sale confirmation and audit of the status of the loan with the loan servicer including, but not limited to, determination of whether the borrower(s) entered into any repayment agreement, reinstated or paid off the loan prior to the sale. In any such event, the sale shall be null and void, and the Purchaser's sole remedy, in law or equity, shall be the return of the Purchaser's deposit without interest. If the validity of the sale is challenged by a party in interest, the Substitute Trustee, in its sole discretion, if it believes the challenge to have merit, may declare the sale to be void and return the Purchaser's deposit. In the event this sale is void for any reason, the successful bidder will have no further remedy, and shall have no claim for repairs, modifications or alterations, or any costs expended, as the same are specifically prohibited herein. The foregoing Statement has been read prior to the sale and, by submitting any bid, the bidder acknowledges they have heard, understood, and agree to the terms and conditions set forth herein. * * * DEFINITION OF AS-IS, WHERE IS, WITHOUT ANY WARRANTY OR REPRESENTATION OF ANY KIND: No representation is made by the Trustee or their agent as to the status of the title to the property nor as to the priority or legal sufficiency of any lien or encumbrance on the property including but not limited to easements, restrictions, covenants conditions, rights-of-way, reservations, filed and unfiled mechanic's liens, prior deeds of trust and judgments, any suits whether at law or equity or probate proceedings, tax and United States Attorney liens, the right of redemption of the IRS or United States, special assessments by local government authorities, and all other matters of record taking priority over the subject Deed of Trust whatsoever without limitation. The Trustee makes no warranty or representation as to the condition, status, merchantability or fitness of any improvements, fixtures or contents associated with the property nor as to any zoning, use or environmental conditions, boundaries, topography, soil type, adequacy of ingress, egress, access, availability of public utilities, insurability, marketability of title, or of