SUNNYLAND ONLINE MEGA LAND AUCTION

Online Bidding Terms of Sale: Online bidding will be made available for ALL Auction properties. Online Bidding will be available through www.eBayliveauctions.com (eBay's Live Online Auction Company). The high bidder will be charged a Technology Fee of 5% of the TOTAL PURCHASE PRICE (in case of a Term Auction this is on the down payment PLUS the built in loan). If you register and don't win the bidding, there will not be a 5% charge. Auction Registration: REGISTRATION IS FREE. ALL YOU NEED TO HAVE IS AN ACTIVE EBAY ACCOUNT. Approval is automatic and you DO NOT NEED a Credit card to register. Registration will begin on May 31st, 2007 and continue every day and throughout auction day throughout the day. Bidders must complete the online registration only. Auction Registration is Free. All bidders must register online through www.ebayliveauctions.com and will bid using their eBay IDs. Absentee Bidding: If you are unable to attend the auction event, you may submit your bid on any number of properties via an Absentee Bid online for each property listing on www.ebayliveauctions.com after successful registration. Online Absentee Bidding can only be done up to 2 hours before the auction start. Auction Catalog: The ebayliveauction.com Auction Catalog contains the list of online auction properties and is released approximately 3 weeks prior to the auction date. This allows our customers to do as much auction property research as possible. For questions about the upcoming land auction, please contact us online or call 1-866-SUNNYLAND (786-6952). General Auction Terms: The "Sunnyland.com MEGA LAND AUCTION" will be an online auction of 55 Properties. All Auction properties are being sold to the highest bidder, meaning that these properties will be offered with only a very low Minimum Opening Bid (usually between $25.00 and $3,000.00). Each property does have a hidden reserve and each sale is subject to the seller's acceptance of the high bid. Seller reserves the right to place floor Bids in the name of the reserve up to the reserve amount which is determined weeks prior to the auction. All parcels classified as CASH(In House Only) are being sold on a "CASH(In House Only) or TERMS" basis. This means that the properties can be purchased with cash(In House Only) or financed through seller financing. All loans extended the day of the auction are fully amortized at an interest rate of 12.9%. A low down payment of 25% of the winning high bid (or $1,000.00, whichever is greater) is required immediately after individual property auction ends. There is no pre-payment penalty for early loan pay-offs. All parcels sold at auction can also be paid in full the day of the auction. All properties being classified as "TERMS" are being sold with built in financing and the bidding is in addition to the financing. Even on these properties of course the loan can be paid off any time with NO pre-payment penalty. The length of the loan term (time to pay-off) depends on the final winning bid amount. The loan term is based on the guidelines below: Length of Loan Term If the financed loan amount is: $1 - $4,999 Loan can be financed for up to 3 years (= 36 months) $5,000 - $9,999 Loan can be financed for up to 5 years (= 60 months) $10,000 - $19,999 Loan can be financed for up to 8 years (= 96 months) $20,000 - $29,999 Loan can be financed for up to 10 years (= 120 months) $30,000 - $39,999 Loan can be financed for up to 12 years (= 144 months) $40,000 - $59,999 Loan can be financed for up to 15 years (= 168 months) $60,000 + Loan can be financed for up to 16 years (= 180 months) With the above Length of Loan Term information your expected monthly payment will be within the following range: (note: all monthly payment amounts are calculated taking into consideration the 25% cash(In House Only) down payment on auction day and an interest rate of 12.9%). Estimated Monthly Payment If the financed loan amount is: $1 - $4,999 The monthly payment will be in the range of $60.00 to $163.66 $5,000 - $9,999 The monthly payment will be in the range of $108.73 to $217.40 $10,000 - $19,999 The monthly payment will be in the range of $157.08 to $314.15 $20,000 - $29,999 The monthly payment will be in the range of $275.44 to $413..24 $30,000 - $39,999 The monthly payment will be in the range of $376.07 to $501.41 $40,000 - $59,999 The monthly payment will be in the range of $467.62 to $701.42 $60,000 The monthly payment will be in the range of $681.96 and higher Conditions of Sale: All properties are being sold in an "As Is, Where Is, and with All Faults" condition as of the date of the auction (date of sale). All sales are considered SOLD and FINAL. Buyer understands that Seller will abide by all state disclosure laws and will disclose all known facts regarding the property. Buyer acknowledges that all properties are being sold at public auction subject to all existing covenants, conditions, restrictions, reservations, exploration and mineral rights, easements, rights of way, assessments, zoning, and all other land use restrictions as there may be on or off record. Property Inspection: Inspect The Property Before You Buy! All bidders are required to personally inspect each property and its physical condition prior to placing a bid at the auction or via the online auction. All winning bidders will be required to personally sign an affidavit stating that the Bidder has inspected the property and is satisfied with its suitability for the purpose intended, including the availability of utilities and rights of way or the lack thereof. Failure of a Buyer to obtain full information about the condition of a property, or to conduct their own on-site or off-site property inspection, will in no way constitute grounds for any claim against the Seller nor the cancellation or adjustment of the sale. Seller's and Auctioneer's Disclaimer: Any announcements made online on auction day will supersede any oral or written statements made prior to that time. Information contained herein was derived from sources believed to be correct, but is not guaranteed. Broker/Auctioneer does not accept responsibility for information presented. It is the responsibility of the Buyer to determine the accuracy of all measurements and specifications of property. The Auction will be conducted by Real Estate Broker Orbit Investments, LLC. Closing / Recording Fee and Property taxes: A. Closing / Recording Fee: There is a one-time, non-refundable Closing / Recording Fee of $490.00 per property purchased. This fee covers document transfer fees (for CA Properties) charged by the respective counties, county recording fees of the Real Estate Sale Agreement, the recording fees of the Deed once the property is paid off. B. Loan Servicing Fee: If a property is financed, a monthly loan servicing fee of $12.00 per property will also be included to cover the cost of processing the loan payments by the loan-servicing agency. C. Impound Fee/Property Taxes/Association Fees: If Buyer chooses the financing option, Seller will require that a portion (representing 1/12th) of the annual property taxes be added to the monthly loan payment, plus an additional amount if applicable, for assessments/association fees, etc. Seller will be responsible for payment of property taxes on an annual basis. Buyer is responsible for all property taxes due after the date of the auction. Taxes will be prorated such that Seller is responsible for all property taxes due and payable until and including the day of auction. D. Early Loan Pre-Payment: There is NO PRE-PAYMENT PENALTY. Any loan can be paid off at any time without any fees or additional charges. E. Late Payment Penalty: A $25.00 fee is due from Buyer to Seller for any monthly payment that becomes more than 10 days delinquent. A charge of $25.00 is due for any check that is returned by the payer's bank. Payment Requirements for all Purchases: Once a property is sold to an ebayliveauctions.com bidder, the winning bidder will be required to contact us within 24 hours by electronic mail or telephone to provide instructions on document preparation and payment of amounts due. Following the auction, Buyer will be required to submit the full amount due (down payment amount if financed or full purchase amount if cash(In House Only) purchase) within 3 business days. Seller will then mail all purchase documents via overnight carrier to buyer. Buyers will be required to sign all purchase documents and return documents immediately within 5 business days to seller. Any funds due can be paid in the form of a Credit Card (Master Card, VISA, American Express) or via Bank cashier's check, money order, PayPal or Personal Check (personal checks will be held for 10 days before purchase papers are mailed out). Paying more than the required 25% Down Payment or $1,000.00, whichever is greater, is acceptable. The Buyer needs to inform the Closing Agent at time of purchase of such intent. Any increase in Down Payment needs to be in increments of $100.00. Submission of a larger than required Down Payment will reduce the amount of the monthly payment. The length of the loan term (time to pay off the loan) will remain as stated in the above "Length of Loan Term" table. Note: The monthly loan installment payments can be made using any of the above stated forms of payment. This includes automated Credit Card authorizations. Multiple Property Purchase: Each bidder can bid on and purchase as many properties as desired. However, only three (3) properties can be purchased with seller financing. Any properties purchased in excess of three (3) must be all-cash(In House Only) purchases. Purchase / Sale Contract: All properties will be sold on a Real Estate Sale Agreement (CONTRACT FOR DEED) which upon request will be recorded with the County Official (Recorder/Clerk) of the county in which the property is located. Where required by law, an Affidavit of Property Disclosure will also be recorded, along with the Real Estate Sale Agreement and/or Deed. The Affidavits of Property Disclosure will be available to the public through this website. Buyers cannot assign a contract to a third party. Ownership Transfer: Unless otherwise stated, once the loan is paid off, the Seller will convey ownership to properties using a "Special Warranty Deed" (name of actual document used for ownership transfer might vary by state of property location). Seller will not issue title insurance for the property and acquiring title insurance is solely up to the Buyer after ownership transfer has occurred. Deed will be recorded in accordance with the Purchase Contract with the county where the property is located. County officials will be advised to return the Deed to Buyer after completion of recording procedures. Seller will not provide escrow or title insurance. Instead, Seller will honor the following five Seller Guarantees. Seller Guarantees: Seller guarantees that: 1. At the time of sale (auction date) the property is free and clear from liens other than recurring assessments and bonds and that the property has marketable title. 2. The pictures displayed on our website and corresponding property description for each particular property describes Seller's opinion of the property condition and/or property area based upon Seller's visit to the property and/or property area. 3. At the time of the sale, the properties do not have any delinquent taxes due. 4. Land Sale Agreement (Contract for Deed) for each parcel will be recorded with the appropriate county office promptly and within a reasonable timeframe after the auction. 5. Any Affidavits of Disclosure or other Seller property disclosure statements have been made to the best of the Seller's knowledge. Seller and Broker do not guarantee: 1. The property boundaries and corner markers to be accurate since they have been identified only by the location of the surrounding corner markers. The exact property boundaries and locations can only be identified by an official property survey. 2. Suitability of property for building site. Some property encumbrances can only be identified by a detailed expert inspection of a property. Unless otherwise stated, Sellers are unaware of such encumbrances. 3. Availability of municipal water or water via a private well. All Bidders are urged to contact local municipal planning and zoning departments or the State Department of Water Resources for information on water availability and local municipal development departments for future water availability plans. 4. Availability of Utilities. Contact the local utility company for information on availability, cost and future development plans for extending electric and telephone lines to the property. 5. Feasibility to place a "standard" septic system on the property. Seller has not engaged in any kind of soil or percolation testing. Some properties might require the installation of an "alternative" (i.e. Hydraulic, Sand Filtered, or Mounted, to name a few) septic system. Unless otherwise stated, Seller is unaware of such conditions. 6. Physical or legal road access or lack thereof. Seller is unaware of such encumbrances unless specifically stated in the individual property listing. Some parcels might be "land-locked." 7. That any roads existing on third party maps (amongst them but not limited to: County Maps, google.maps.com, www.mapquest.com, Delorme Streetfinder, MapUSA, etc.) actually exist. All maps were provided by the Sellers and were provided for information and orientation purposes only. No liability is assumed for the accuracy of the data delineated thereon. 8. Any zoning restrictions, building codes, permit requirements or any other land use restrictions. Contact local municipal Planning and Zoning Departments or affiliated Departments (like Building and Public Safety Department) of the municipality or county in which the property is located. 9. The existence of Mineral Rights for the property. Unless otherwise stated for a particular auction property, Buyer should assume that No Mineral Rights come with the property (since the vast majority of all properties in Arizona come without Mineral Rights). Contact appropriate local authorities for clarification on Mineral Rights on a particular property you are interested in. 10. Existence of Homeowners Association Fees, local or regional Bonds for Utilities, Water, Sewer, and street improvement. Unless otherwise stated for a property, Seller is unaware of such assessments. 11. Directions to properties. Directions to properties are provided for orientation purposes only and Seller does not guarantee the accuracy of such directions. Affidavit of Contract Termination - Right of Rescission: The purchaser or lessee has the legal right to rescind (cancel) this agreement without cause or reason of any kind, and to the return of any money or other consideration by sending or delivering a written notice of rescission to the seller or lessor by midnight of the seventh calendar day following the day the purchaser or lessee executed the agreement. Breach of Seller Guarantees: If after the close of the Sale (Cash(In House Only) or Financed) a breach in any one of the five Seller Guarantees issued by the Seller is discovered, the possible actions will be limited to one of the following two options to be determined by the Seller(s): 1. The Land Sale Agreement may be cancelled and all funds paid, including all fees, will be returned to the buyer. In turn the buyer agrees to sign an "Affidavit of Contract Resolution" which will be recorded with the County Recorder/Clerk in the county in which the property is located. 2. Seller can also choose to cure the defect at Seller's expense. If the Deed had already been conveyed to the Buyer before the breach was discovered and Buyer and Seller agree to rescind the ownership transfer, the Buyer shall execute and deliver ownership and possession of the property in question back to the Seller via Warranty deed. Property shall be re-conveyed to Seller in same condition as it was received. Guarantees do not extend to any party other than the Seller and the Buyer at auction and do not extend to any third parties. Auction is considered to be based out of Arizona and broadcasted online. All contents of this Auction Catalog are copyrighted ©2007 by Sunnyland.com, owned and managed by Arizona licensed Real Estate Broker Orbit Investments, LLC. Contents may not be reprinted, copied, reproduced, or used without written permission of owner.