GIGANTIC LAND LIQUIDATION!! OCTOBER 22, 2006

TERMS AND CONDITIONS FOR AUCTION BEING HELD OCTOBER 22, 2006. PLEASE READ CAREFULLY!!! Live auction will take place Sunday, October 22nd, 2006, at the Hyatt Regency Dallas 300 Reunion Boulevard Dallas, TX 75207 Follow signs to: Marsalis Hall Section A. Registration begins at 8:30 AM and continues until the end of the auction. THERE IS NO COST TO REGISTER. To register, simply complete the Bidder Register Card. You will be given a bidder number. You must register prior to bid. The auction will begin at 10:00. WHEN YOU ARE THE SUCCESSFUL BIDDER All successful bidders will be required to sign purchase paperwork and pay for the balance of your down payment immediately following their winning bid. When you are the successful bidder, you will be escorted to the documentation area, where you will sign purchase documents and pay the required funds. You may continue to bid on other properties, from the documentation area, while you are completing your paperwork. All final paperwork shall be completed within 90 days of the auction. When you are the winner on Ebay Live we will send closing and payment instructions within 72 hours. THE FIRST $500 OF EVERY PURCHASE MUST BE PAID IN CASH OR CASH EQUIVALENT. Cash equivalent means traveler's check, money order, or cashiers check made payable to yourself, if you are the winning bidder you will then endorse it over to us. Any additional amounts due (over and above the $500) may be paid with a personal check, business check, money order, traveler's check or cashier's check made payable to yourself and if you are the winning bidder you can endorse it over to Usalandsale.com, LLC. ALL MAJOR CARD CARDS WILL ALSO BE ACCEPTED. The buyer shall be required to pay a non-refundable documentation fee of $595, for each property purchased, to cover the costs of document preparation, deed recording, and mailing. All bids are subject to a 10% Buyers Premium. The Buyers Premium is added to the winning bid and is payable as part of the purchase price. Unless paid in full at the auction, all parcels are sold on a Real Estate Purchase Contract. Parcels purchased with financing shall make use of a Promissory Note. Buyers my NOT assign contracts to third parties. Title to each property will be conveyed to buyer only after the entire loan balance has been paid in full. The Properties are separated into Two Groups: 1. Live Auction - known as straight auction or CASH OR TERMS 2. Contract for Deed - BIDDING ON THE RIGHT TO ASSUME THE LOAN. THE FOLLOWING GUIDELINES APPLY TO FINANCING Winning Bid: $1-$9,999 No financing available. Must be paid within closing period. $10,000-19,999 May be financed up to 2 year/ 24 months $20,000-29,999 May be financed up to 3 years/ 36 months $30,000-$49,999 May be financed up to 4 years/ 48 months $50,000 + May be financed up to 5 years/ 60 months The above financing is based on a 15 year amortizations with a balloon at the end of each term. WARRANTIES & DISCLAIMERS • All sales are considered sold, final and binding • Any property which sells for $1,000 or less must be paid in full at the auction and if the winning bid is for $10,000 or less it must be paid with in the closing period usually 30 days. • If financing a parcel, the minimum monthly payment shall be $100. When a monthly payment is paid, it will first be credited to interest then due, then toward principal. THERE IS NO PREPAYMENT PENANLTY FOR PAYING THE LOAN OFF EARLY. A late fee of $50 shall be charged if any payment is more than ten days delinquent. A returned check fee of $30 shall be charged for any check which is returned unpaid. If a buyer purchases more than 3 parcels, the 4th and all subsequent parcels must be paid in full within the closing period usually 30 days. Seller and Auctioneer reserve the right to limit the number of purchases made by any bidder. This is per household. SELLER DOES WARRANT THAT: (A) Title to each parcel is marketable title. (B) No monetary liens on property other than recurring assessments or bonds (C) Real property taxes which are due and payable prior to the auction day shall be paid by seller. If the property is purchased with financing, then the property taxes and homeowner's association fees (if any) will be added to and included with the monthly payment. If the property is not being financed, the purchaser shall be responsible for property taxes which become due after the auction date. Some states have taxes which are billed in the rears, meaning this year you will receive a bill for the previous the year’s taxes, because the bill came out after the auction buyer will be responsible for this tax. 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 property. (B) Utilities or lack thereof. Contact the City or County Building department for information on utilities. (C) Mineral rights or lack thereof. (D) Location and size of the property. Sizes advertised are approximate. (E) Assessments and/or bonds for utilities or homeowner's association due/fees. (F) Zoning or building codes. Contact the City or County building department. (G) Access. Seller makes no representation on guarantee regarding physical and/or legal access. All properties are being sold in "as is" condition. The winning bid is a final, binding agreement to purchase. All properties are offered subject to Seller's acceptance of the winning bid. Auctioneer may accelerate bids on behalf of the owner. The sale of these properties is subject to all existing exploration rights, easements, rights of way, assessments, zoning, land use restrictions, covenants, conditions and restrictions. 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 sell. These warranties extend only to the purchaser, and do not extend to third parties. If buyer wishes to purchase title insurance it will be at buyer's expense. Current Property List is subject to changes, auction day notes will be handed out prior to the start of the auction. TITLE BY DEED Deeds conveying title from Seller to Buyer shall be recorded in accordance with the contract terms. The Seller warrants that title to each parcel is, on the date of sale, free of all recorded monetary liens unless disclosed. Some properties being offered may have been previously acquired by tax deed and some title insurance companies will not insure tax deeded properties, so Buyers of tax deeded properties will be required to sign an acknowledgement form. The Seller has attempted to provide accurate information on all documents. In the event that a typographical error exists in the legal description, Assessor's Parcel Number, or parcel size, the Seller may correct the error and proceed with the recording or re-recording. BIDDERS MUST PERSONALLY INSPECT AND INVESTIGATE EVERY PARCEL ON WHICH THEY BID Look before you buy! Failure to do so will not be grounds for a cancellation or adjustment of sale. Buyers must rely on their own interpretation of property value, and not rely on any statements made by seller, broker and/or auctioneer. Inspect the property; investigate the property and its approved uses. Be an informed buyer! Some parcels were purchased by seller sight-unseen. Buyer will be required to acknowledge that they have personally inspected and investigated each property they purchase. THE SELLER HAS MADE EVERY EFFORT TO VERIFY THE ACCURANCY OF INFORMATION CONTAINED HEREIN. HOWEVER, ERRORS DO OCCUR. ALL INFORMATION CONTAINED HEREIN WAS OBTAINED FROM COUNTY MAPS OR OTHER SOURCES DEEMED RELIABLE, BUT IS NOT GUARANTEED AND MAY BE IN ERROR. SELLER DOES NOT WARRANT THE ACCURANCY THEREOF. Remember, each parcel of real estate is unique. The properties we sell may be dry or wet, flat or slopped, rocky or sandy, with or without roads, with or without legal access, with or without utilities, etc. Seller, Auctioneer and/or Broker assume no responsibility for the providing or absence of any information whatsoever, or for the accuracy thereof. Usalandsale.com reserves the right to deny any person access to the auction site for interference, solicitation, canvassing, nuisance or any other reason. Announcements made at the auction take precedence over any printed material, or misprints. Michael Patrick Hanley Auctioneer # AUCTNR00015050, Texas RE # 537416 LIVE AUCTION EXPLANATION – PROPERTIES DESIGNATED AS CASH OR TERMS Properties designated as CASH OR TERMS may be purchased with cash or financed on terms if over $10,0000, by paying a down payment of 15%, plus 10% Buyers Premium of the full purchase price, plus the documentation fee of $595. The remaining balance may be financed with us at 12.9%. We do not check your credit, and everyone qualifies for financing. Most of the properties being offered at the auction are for sale with seller financing. You may pay cash, or you may finance it with us (over $10,000). We do not check credit, and you do not have to qualify for financing. EVERYONE QUALIFIES FOR FINANCING, REGARDLESS OF YOUR CREDIT. FINANCING TERMS Winning Bid: $1-$9,999 No financing available. Must be paid within closing period. $10,000-19,999 May be financed up to 2 year/ 24 months $20,000-29,999 May be financed up to 3 years/ 36 months $30,000-$49,999 May be financed up to 4 years/ 48 months $50,000 + May be financed up to 5 years/ 60 months The above financing is based on a 15 year amortizations with a balloon at the end of each term. CONTRACT FOR DEED EXPLANATION – PROPERTIES DESIGNATED AS BIDDING ON THE PROPERTY IN ADDITION TO A LOAN Most of the properties being offered at the auction are for sale with seller financing. You may pay cash, or you may finance it with us. We do not check credit, and you do not have to qualify for financing. EVERYONE QUALIFIES FOR FINANCING, REGARDLESS OF YOUR CREDIT. You are bidding on the right to assume the loan amount, and your high bid will be added to the loan amount. In addition to your bid amount, you are assuming a loan on these properties. The loan is based on a 15 year amortizations with a balloon at the end of each term. WHEN YOU ARE THE SUCCESSFUL BIDDER ON THE CONTRACT FOR DEED AUCTION, YOU HAVE TWO WAYS TO PAY: Remember your bidding on the right to assume the loan amount. The math works like this. 1. You may pay in full. For example, let’s say you bid $1000 for property #76. Bid Amount $1,000 Built-in Loan Amount $5,000 Closing/Recording $ 595 Total to Pay at Auction $6,595 2. You may finance the property Bid Amount $1,000 Closing/ Recording Fee $ 595 Built in Financing $5000 Total to Pay at Auction $1,595 Finance the Built-in Loan (see terms) The balance of the purchase price would be financed. Terms are specified FREQUENTLY ASKED QUESTIONS Q. Do you need any experience to bid at the auction? A. No… bidding is simple. If you are a first timer, come to the auction, explore and ask questions. Our staff will be happy to assist you in anyway we can. And after a few items have been sold you will see how easy and fun the process is and be ready to make a bid for yourself. Q. Do I need to register to bid at the auction? A. Yes. It begins an hour and half before the start of the auction and continues throughout the day. Registration is free of charge and everyone is welcome. You will have show $500 cash or cash equivalent and a picture ID. Q. What kind of properties can you buy at this gigantic land auction? A. There is something for everyone. We offer a wide variety of land parcels… from small city lots to large piece of acreage. And the best part is we offer very financing and low minimum bids so almost anyone can afford to own property. Q. Who owns the properties being sold at auction? A. We own everything that we sell. We are not real estate brokers or agents. Q. How do you acquire your properties? A. We acquire properties from many different sources. Basically, we look for bargains, so that hopefully you buy a bargain. Q. Are there any liens on the property? A. No. We guarantee free and clear title on all properties we sell. Q. Should I look at the property prior to bidding? A. Yes. We have not seen some of the properties and it is your responsibility to make sure that a particular property suits your needs. You shouldn’t buy land without looking at it first. (See conditions of sale for details) Q. If I buy something, do I need to pay the entire purchase price on auction day? A. No. We offer financing for any purchase over $10,000. B. The down payment is 15% plus a 10% Buyers Premium of the purchase price and the documentary fee (See auction terms and conditions for details) C. Contract for deeds have separate terms Q. Do I need to qualify for financing and how long does it take? A. No, we finance anything over $10,000. The Table Auction has its own built in financing. Q. Can I buy as many properties as I want? A. Yes, but we will only finance three purchases. All other purchases must be paid for in full on auction day. Q. Do I pay any sales tax on my purchase? A. The only taxes are State/County/City required transfer or excise tax. Usually this is minimal amount and is part of the documentary fee. You will also be responsible for any taxes being billed after the auction date regardless of the year, many states bill in the rears, ex: 2005 will be billed in 2006, usually billed in November due in January, if this bill comes after the auction date, you will be responsible. Q. Is there any penalty for paying a loan off early? A. No. There are no prepayment penalties. As a matter a fact, if you payoff your loan within the first 30 days you pay no interest at all. Also you may obtain your own financing, you will still be required to pay the down payment and within the payment terms. Q. When do I get a deed to my property? A. You will receive your deed about 90 days after you payoff the property. Q. What if there is a problem with the deed? A. In the event that a typographical error exists in the legal description, Assessor's Parcel Number, or parcel size or any error, the Seller may correct the error and proceed with the recording or re-recording. Q. What if I want more information on the property I bought? A. All research was to be done prior to bidding. We have provided as much information as we have, we suggest you pull the plat or map of your parcel and contact the county assessor for further information. Q. What if I buy a property and I find out that it’s not what I want? A. All sales are final and there are no refunds. That’s why it's so important that you investigate before you buy. Remember, you get to choose the property and you set the price. This FAQ page is for reference only and in the event of conflict, the Terms and Conditions of Sale shall prevail and control."

Local Taxes Apply