AUCTION   AUCTION   AUCTION

119.31 ACRES FARM LAND AND HOUSE IN

NASH COUNTY

SATURDAY, MAY 3, 2008 - 11:00 AM

MORGAN FARM

SPRING HOPE     NORTH CAROLINA 

MACEDONIA RD, RIDGE RD & DALMAR RD

TO BE SOLD IN 9 TRACTS, combinations OR AS A WHOLE

Terms and conditions of sale:

Terms: 15% earnest money deposit due day of auction with balance to be paid in full within 30 days of auction. Deposit must be in form of cash, or company check. If no prior relationship with auction company then certified funds or bank letter of guarantee must be presented at registration. Sample letter: As a custom of our bank, we will guarantee payment of checks drawn on our account# _______not to exceed the amount of ________for purchases at the auction of FOSTER’S AUCTIONEERS & REAL ESTATE, INC. on MAY 3, 2008 in Nash County, North Carolina.

Closing: Closing will take place at the law office of Davis, Sturges & Tomlinson, 101 Church Street, Louisburg NC 27549. Pete Tomlinson is the closing attorney and can be reached at 919-496-2137. Buyer will be responsible for all their attorney expenses.

Buyers Premium: A 10% buyer’s premium will apply to Real Estate.

Agency Disclosure: In all transactions the auctioneers are acting as agents for the sellers not the buyers.

Disclosure: See auction brochure on this site for Lead Paint disclosure. Inspection dates for lead paint April 18^th to April 28^th.

Inspection Times: There will be representatives from Fosters Auctioneers available on site April 26 & May 2 from 1pm until 4pm each day, or call for appointment to arrange a private showing.

Survey: There is a current recorded survey, plat book 35, page 282 on the 65.22 acres & plat book 35 page 277 on the 54.09 acres. The proposed tracts 1, 2, 3, 4,5,6,7,8 & 9 have been divided and will be recorded at seller’s expense, before closing, if bidder buys an individual tract.

Buyers Note: Auction Company does not guarantee any written material or facts about this property. Auction Company has to the best of its ability tried to give all information available from seller and other gathered information. Buyer is responsible for their own investigation of the property. Property is sold as is where is with no seller’s representation of its merit in any way.

Property sold: Property is being sold free and clear of all liens. Taxes will be prorated between buyer and seller to day of closing. Purchaser will be required to sign a North Carolina real estate contract day of sale and any other disclosure forms necessary.