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Pickens Mississippi Real Estate

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					               Taylor Auction & Realty, Inc.
                 P. O. Box 357     Grenada, Mississippi 38902
                                (662) 226-2080
                 Benny Taylor – Auctioneer –MS Broker/Realtor
                      Ruthie Taylor – MS Broker/Realtor
Mississippi Auctioneer’s Association                    National Auctioneer’s Association


                                     January 7, 2009


Thank you for your inquiry:

Taylor Auction & Realty, Inc. is pleased to have the opportunity to offer this property at
auction.

                      Real Estate A/K/A – Four Star Meat Company of LA., Inc.
                      Location: Industrial Park Road, Collins, MS.



Please be aware as you bid that the 10% Escrow on the Real Estate is due today.

Please review the buyer’s guide carefully. If you should have any questions, please do not
hesitate to inquire further.

Sincerely,



Benny Taylor
Taylor Auction & Realty, Inc.
                     Terms of Real Estate
                          Auction
General Information

Taylor Auction & Realty, Inc. will be offering this property at auction on
Wednesday, January 28, 2009 @ 11:00 a.m.

Auction Location – Onsite, Four Star Meat Company, Industrial Park Road,
Collins, MS.

Seller’s Confirmation on the Real Estate

Standare Real Estate Terms:

                                  o 10% Escrow Deposit
                                  o Real Property Selling AS-IS
                                  o Close within 30 Days
                                  o Seller to convey marketable title & is responsible
                                    for Deed preparation
                                  o Taxes are to prorated
                                  o All other closing costs responsibility of purchaser
                                    unless a mutual agreement between buyer & seller
                                    takes place in reference to other closing
                                    negotiations

Starting Time & Registration:

Registration will begin at 10:00 a.m. with the real estate auction beginning at 11:00 a.m.

Property Information & Inspections:

You should inspect any property you wish to purchase PRIOR TO THE AUCTION. No
sale will be contingent upon a property inspection by the successful bidder after the
auction OR is the sale contingent upon Buyer obtaining financing.

You may obtain information about the property from the Auctioneer. The seller, the
Auctioneer and its agents shall not be held liable for any errors or omissions regarding
auction property. THE AUCTIONEER DOES NOT WARRANT OR REPRESENT
THAT INFORMATION SUPPLIED ABOUT THE PROPERTY IS COMPLETE OR
ACCURATE. YOU ARE RESPONSIBLE FOR PERFORMING YOUR OWN DUE
DILIGENCE INVESTIGATION AND OBTAINING INFORMATION ABOUT ANY
PROPERTY YOU WISH TO PURCHASE. Buyer assumes responsibility to check with
the appropriate authority/authorities regarding the property’s current or future intended
use as well as any planning or zoning.

The Auctioneer complies with all federal laws regarding the buying and selling of
property.

Auction Procedures:

Although there is no obligation to bid, all prospective buyers must register at the auction
site. Bidder registration will begin at 10:00 am. In order to register you must:

   1) Complete and sign a bidder registration form with your name, address and phone
      number, please bring picture ID if not known to auction company representative
      or seller of the property. In addition, each prospective buyer must sign and
      receive a Working with a Real Estate Broker Form, a required form by the MS
      Real Estate Commission which details seller’s, buyer’s and agent’s roles in this
      transaction.

   2) The auction will be open and verbal. Any announcements made by the
      Auctioneer on the day of the auction will take precedence over all prior oral or
      written terms. The Auctioneer may postpone or cancel the auction, determine the
      bidding increments, reopen bids, settle disputes between bidders, and resolve all
      other auction matters in his sole discretion. In essence, the auctioneer regulates
      all matters relating to the conduct of the auction and his decision shall be final and
      binding on all bidders.

   3) The Auctioneer reserves the right to deny entry to the auction for any reason.

   4) Buyer and Seller shall hold the Auctioneer harmless should the property fail to go
      to settlement for any reason.

   5) If you are the successful bidder at the auction, you will be required to submit a
      10% escrow deposit in the form of cash or cashier’s check, or a personal or
      company check accompanied by an irrevocable letter of guarantee from your bank
      immediately following the auction to the auction assistant and sign a real estate
      contract. The 10% escrow deposit will be applied toward the contract price with
      the balance due at closing. Pre-approval for a mortgage loan is not a requirement
      to bid at an auction sale, but is highly recommended. All closing costs will be the
      responsibility of the buyer.

   6) If settlement does not take place on or before the scheduled Settlement Date, the
      Sales Contract shall be deemed null and void and Buyer shall forfeit the down
      payment in such event. Settlement agent and/or Auctioneer shall disburse the
      down payment as follows: fifty percent (50%) to the Seller and fifty percent
      (50%) to the Auctioneer. The Sales Contract authorizes said disbursement but
      does not limit damages to any party/parties to the amount of the down payment.
   7) If the high bidder (Buyer) fails to perform for any reason, the Auctioneer may
      contact any of the other bidders on the property. However, the seller has no
      obligation to accept any backup bid in the event that the high bidder defaults.

Terms After the Auction:

The successful bidder (Buyer) shall do the following:

   1) Purchase the property in “As-Is, Where-Is” condition with no contingencies other
      than those stipulated in the Sales Contract or those stated or offered by the seller
      and the Auctioneer.

   2) Deposit a 10% escrow deposit in the form of cash or cashier’s check, or a
      personal or company check accompanied by an irrevocable letter of guarantee
      from your bank immediately following the auction to the auction assistant and
      execute a real estate contract based upon the successful bid. The 10% escrow
      deposit will be applied toward the contract price with the balance due at closing.

   3) These terms and conditions of the Auction shall become part of the Sales
      Contract.

   4) Settle within 30 days following the date of the auction sale.

   5) YOU WILL NOT OWN THE PROPERTY UNTIL YOU CLOSE THE SALE.
      You cannot enter the property until after the sale has closed.

   6) Seller to convey marketable title, and be responsible for deed preparation. The
      closing costs are the responsibility of the purchaser unless a mutual agreement
      between buyer and seller takes place in reference to other closing negotiations.

				
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