GIGANTIC LAND LIQUIDATION - 130 PROPERTIES

TERMS AND CONDITIONS FOR AUCTION BEING HELD MARCH 11, 2006. PLEASE READ CAREFULLY!!! Date, Time, & Location: The auction will take place Saturday, March 11th, 2006, at the HOUSTON MARRIOTT NORTH LOCATED AT GREENSPOINT 255 SAM HOUSTON PARKWAY HOUSTON, TEXAS 77060 PHONE: (281) 875-4000. Registration begins at 8:00 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. FREE LAND A number of valuable, free land will be given away during the auction. When you register, you will be given a ticket, making you eligible to win free land. One free property will be given away every hour. You must be present to win. No purchase necessary. When you win a free property, you will be escorted to the documentation area. 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 via federal express within 30 days of the auction. 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 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 secured by a Mortgage or Deed of Trust. 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. If your bidding online your card is not charged unless you are a sucessful bidder. In which case $500 will be charged. The Properties are separated into Two Groups: Properties #1-#100 are designed as CASH OR TERMS, (see full explanation) Properties #101-#130 are designated as BIDDING ON THE RIGHT TO ASSUME THE LOAN (see full explanation). These terms and conditions apply to all groups of properties. 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. 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 with cash or cash equivalent. 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. 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. 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. 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. Properties are being auctioned using 2 different formats. Items 1-100 are being sold in the live auction format. You are bidding on the full purchase price of these properties. Items 101-130 are being sold in the table auction format. You are bidding on the down payment. LIVE AUCTION EXPLANATION – PROPERTIES DESIGNATED AS CASH OR TERMS 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. Items 1-100 are being sold in the live auction format. You are bidding on the full purchase price of these properties. 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. TABLE AUCTION 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. Items 101-130 are being sold in a table auction format. You are bidding on the right to assume the loan amount, your high bid will be in added to the loan amount. In addition to your bid amount, you are assuming a loan on these properties. 10% Buyers Premium is based on the full purchase price. Your bid amount will be due the day of the auction. WHEN YOU ARE THE SUCCESSFUL BIDDER AT THE TABLE 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 #101. Bid Amount $1,000 Built-in Loan Amount $5,000 Closing/Recording $ 595 10% Buyers Premium $ 600 Total to Pay at Auction $7,195 2. You may finance the property Bid Amount $1,000 Closing/ Recording Fee $ 595 10% Buyers Premium $ 600 (Total purchase price $6,000) Total to Pay at Auction $2,195 Finance the Built-in Loan (see terms) The balance of the purchase price would be financed. Terms are specified

Local Taxes Apply