The Farm on Cal Young Road

HOMEOWNERS' ASSOCIATION
Buyers of each Unit will become members of The Farm on Cal Young Road Condominium Association, which was formed to maintain roads, exterior building and landscape maintenance, garbage, property management and insurance. Please review the Condominium Declaration, By-Laws and CC&R's in the Supplemental Information Package. Monthly assessments are estimated at:

Studio - $136
One Bedroom - $182
Two Bedroom - $273
Two Bedroom/Den - $296

AUCTION INFORMATION OFFICE/ON-SITE INSPECTIONS/SALES DOCUMENTS
The Auction Information Office is located on-site at 1435 Perdue Loop (Auction Property #17) and will be open during inspection times. Interested bidders are encouraged to conduct a physical inspection of the property. Open House Times are as follows:

Each Auction Unit will be available for inspection. Each Unit will have an Auction Sign for easy identification. It is advised to consider several Units in the event you are not successful in obtaining your first choice.

The following documents are available for examination at either the on-site Auction Information Office, or by calling the Portland Auction Information Office at 1-800-845-3524. The documents contained in the Supplemental Information Package should be thoroughly reviewed for details of this offering:

Bid Instructions and Bid Form/Purchase and Sale Agreement/Real Estate Disclosures
Condominium Declaration, CC&R's, By-Laws and Budget
Maintenance Plan and Reserve Study
Preliminary Title Reports
Project Fact Sheet
Project layout and floor plans

DIRECTIONS
The Farm on Cal Young Road is located at the corner of Norkenzie and Cal Young Road. The Auction Information Office address is 1435 Perdue Loop.

Traveling South on I-5: Take Exit 195B toward Florence/Oregon Coast. Merge onto Beltline Hwy. W/OR 569. Take Coburg Rd. Exit 12, toward Eugene. Turn left onto Coburg Rd. Turn right onto Cal Young Rd. Turn right onto Norkenzie Rd. Property is on the left.

Traveling North on I-5: Take Exit 194B toward Eugene. Take the Coburg Rd. Exit 2 (far right) ramp. Keep left at the fork to go straight across Coburg Rd. on Coburg Rd. Turn left onto Cal Young Rd. Turn right onto Norkenzie Rd. Property is on the left.

FINANCING
Financing available to qualified buyers subject to Fannie Mae requirements for condominiums, and includes a variety of fixed rate and variable loan packages.

MINIMUM BID
A Minimum Bid has been established for each Unit. This means that the Seller has agreed to accept, at this Auction only, all bids equal to or greater than the Minimum Bid for each Unit. No bid below these minimums will be recognized. The Seller reserves the right to reject ALL bids in the event not all 21 Units are sold.

Subject to Fannie Mae guidelines, no more than five units sold at the Auction may be held for investment purposes. Bidders will be required to indicate intent for the acquisition (residence, second home or investment) on the Bid Form and the Seller reserves the option to accept the highest bid from either an individual or investor to meet the Fannie Mae guidelines.

BROKER COOPERATION
Broker cooperation is invited. A 2% commission will be paid to the real estate agent whose Buyer closes on the purchase of an Auction Property. A special broker open house will be held on March 24 from 11 am to 2 pm. Buyers must register their real estate agent on the Auction Bid Form.

BID PROCESS AND CLOSING
Sealed Bids must be submitted to Realty Marketing/Northwest on the Seller's Bid Form no later than 5:00 P.M., Pacific Time April 21, 2010. The bid must be submitted with an executed Purchase and Sale Agreement accompanied by a certified or cashier's check in the amount of five percent (5%) made payable to Realty Marketing/Northwest Client Trust Account (RM/NW CTA), as an earnest money deposit. All due diligence and inspections must be completed prior to bid submission and bidders requiring financing must be pre-qualified.

Bidders will be notified of acceptance or rejection no later than April 26, 2010. Escrows shall close no later than May 30, 2010, unless extended by the Seller in writing. Unsuccessful Bidders' earnest money deposits will be returned within three (3) days of Seller's rejection.

The earnest money deposits for the successful bidder will be considered earned and become non-refundable liquidated damages in the event of Buyer's default. Buyers will be required to pay customary closing costs including, but not limited to, recording fees, normal prorations and documents preparation fees. Seller will provide owner's title insurance at Seller's expense. Any extended coverage will be the responsibility of the Buyer.

FIRST TIME HOME BUYER CREDIT
A First Time Home Buyer Credit of up to $8,000 may be available to Purchasers. Purchase and Sale Agreements must be entered into no later than April 30, 2010, and sales must close by June 30, 2010. For more details on the Credit, visit the First-Time Homeowner Credit page on IRS.gov.

UTILITIES
Each condominium is fully-served with electricity, water, sewer, natural gas, telephone, cable and high speed internet.

ADDITIONAL TERMS AND CONDITIONS
No claim will be considered for allowance, adjustment or rescission based upon failure of the property to correspond to any particular expectation or standard (except the Preliminary Title Report).

Title insurance is available for each Unit insuring the title of such property to be in fee simple, subject to no encumbrances except for current taxes and assessments, easements, rights-of-way, reservations, covenants, conditions and restrictions of record, purchase money financing and printed exceptions in the standard form Owner's Title Policy. A copy of the Preliminary Title Report for the property should be inspected prior to the Auction.

To the extent permitted by law, the property will be sold "As Is". Prospective buyers should examine the property and all supporting documentation carefully. Each bidder is responsible for evaluating the property and shall not rely on the Seller or sales agents. All buyers will take possession at the close of escrow.

Sizes and square footages set forth for each Unit are approximations only, based on the best information available, but the actual sizes and square footages may be different.

Agency Disclosure. The selling and listing agent, Realty Marketing/Northwest, represents the Seller in these transactions.

Seller has the right to postpone or cancel the Auction in whole or in part, at its sole discretion, and to modify or add any terms and conditions of sale and to announce such modifications or additional conditions prior to the bid date.

Offer void where prohibited. Catalog will not be mailed to residents of any state for which this offering is not in compliance with the real estate laws or other laws of that state.

The information contained herein has been gathered from sources deemed reliable; however, Realty Marketing/Northwest makes no warranties expressed or implied as to the accuracy of the information contained herein.

NEED HELP?
Realty Marketing/Northwest prides itself on the quality of its service. If at any time you need special assistance, please contact Sharon Peede at (800) 845-3524 or (503) 228-3248.

Auction Conducted By:

Realty Marketing/Northwest
Oregon Broker
Catalog #1001

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