Secured Party Real Estate Auction

Wednesday, June 7^th 11:00AM

Registration begins at 10:30AM

AUCTION HELD AT THE HARRISON COUNTY COURTHOUSE

Property Address:

2 Irwin & 58 E. High St.

Salem, WV

No Zoning

Paved Parking

SUBJECT 1:  2 Irwin St.

Operating Laundromat

All remaining Laundromat equipment conveys with real estate

6,269+/- sqft. Building

Four 2-Bedroom Apartment Units Upstairs

District 19, Map 2706, Parcels 215, & 216

SUBJECT 2:  58 E. High St.

Apartment Building

Three 2-Bedroom Units

District 19, Map 2706, Parcel 212

PLEASE NOTE:  Buildings may be occupied.  Interested parties are advised not to approach the buildings or any occupants.

               TERMS OF SALE: 

               1.            Ten percent (10%) of the sales price shall be paid by cash, cashier’s check, or check guaranteed by bank letter of credit in acceptable form, in hand on the day of sale (the “Good Faith Deposit”), with the balance to be paid in cash at closing within 30 days after the date of sale.  A 10% buyer’s premium is also due and payable to Joe R. Pyle Complete Auction & Realty, LLC, at the close of the auction.

               2             The Real Property shall be sold "AS IS" and "WITH ALL FAULTS."  Neither the Substitute Trustee, the Noteholder, nor their respective agents, successors, and assigns, make any representations or warranties with respect to the Real Property including, without limitation, representations or warranties as to the structural integrity, physical condition, construction, workmanship, materials, habitability, fitness for a particular purpose or merchantability of all or any part of the Real Property.  Without limiting the generality of the foregoing, the Real Property will be sold without representation or warranty as to the environmental condition of the Real Property or the compliance of the Real Property with federal, state, or local laws and regulations concerning the purchase or disposal of hazardous substances.  Acceptance of the deed to the Real Property shall constitute a waiver of any claims against the Substitute Trustee, the Noteholder, and their respective agents, successors, and assigns, concerning the environmental condition of the Real Property, including, but not limited to, claims arising under the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, and/or state or local law, ordinances or regulations.

               3.            The Real Property will be sold subject to all unpaid real property taxes or assessments, personal property taxes or assessments, encumbrances and claims in favor of public service districts/municipal sanitary boards, if any, and also further subject to any covenants, restrictions, conditions, reservations, rights of way and easements recorded in the aforesaid Clerk's office prior to the Deed of Trust and affecting the Real Property.

               4.            Settlement shall be by cashier's check or wire transfer of immediately available federal funds, and shall occur within thirty (30) days from date of sale, TIME BEING OF THE ESSENCE.

               5.            Settlement shall occur in the offices of the Substitute Trustee or such other place as mutually agreed upon. The Substitute Trustee reserves the right to extend the date of settlement as may be necessary to complete arrangements for settlement.

               6.            The Good Faith Deposit, without interest, shall be applied to the credit of the foreclosure purchaser at settlement.  If the foreclosure purchaser fails to complete settlement, the Good Faith Deposit shall be forfeited, and the Substitute Trustee may resell the Real Property at the risk and cost of the defaulting purchaser.

7.            Conveyance of the Real Property shall be by a trustee's deed without representations or warranties, and foreclosure purchaser shall pay for all transfer stamps, recording fees, and other closing costs.

               8.            The risk of loss or damage to the Real Property shall be borne by the foreclosure purchaser from and after the bid strikedown at the time of sale.

               9.            The Substitute Trustee will not deliver possession of the Real Property to the foreclosure purchaser, who shall be solely responsible for obtaining possession of the Real Property.

               10.          At the time of sale, the foreclosure purchaser shall be required to execute a memorandum of sale (the “Memorandum of Sale”) which shall include, by reference, all the terms and conditions contained herein.  The form of Memorandum of Sale shall be available from the Substitute Trustee upon request and will be available at sale time.  Immediately upon the conveyance by the Substitute Trustee of the Real Property to the purchaser at foreclosure, all duties, liabilities and obligations of the Substitute Trustee, if any, with respect to the Real Property shall be extinguished.

               11.          Pursuant to the Deed of Trust, the Substitute Trustee may act by agent in the execution of the sale.  Any sale hereunder may be adjourned from time to time without notice other than oral proclamation at the time and place appointed for the sale.  The Substitute Trustee reserves the right to reject any or all bids.  The Noteholder reserves the right to purchase the Real Property at such sale.

12.          Additional terms and conditions may be announced at the sale.

JOE R. PYLE COMPLETE AUCTION & REALTY SERVICE

(888) 875-1599

5546 Benedum Drive Shinnston West Virginia 26431

www.joerpyleauctions.com

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