Minimum Selling Price:
This sale includes 40 condominium residences with minimum selling prices as low as $110,000.

A published minimum selling price has been established for all the residences. This means that the Seller has agreed to accept from registered bidders all bids equal to or greater than the published minimum selling price for each of these residences. No bid below these minimums will be recognized.

Condominium Association:
Buyers become members of the Condominium Owners Association and are assessed a monthly fee. This fee is used towards customary condominium operating expenses except for separately metered utilities for each residence. For details contact the Auction Information Center.

1. Registration
Registration is required to attend the auction and to become eligible to bid. Complete and return the Auction Registration Form prior to auction day.

If you are planning to purchase more than one residence, your completed Auction Registration Form must be received no later than June 16, 2008. Registrants will be notified of the number of homes they have been approved to purchase.

On auction day, all approved registered bidders must present a separate Cashier’s Check, Traveler’s Check, Certified Check or Money Order ("Cash Equivalent") in the amount of $3,500 for each residence that they have been approved to purchase. Each bidder is also required to bring a blank personal check used only if the $3,500 certified funds falls short of 3% of the winning bid price. If $3,500 is not equal to or more than 3% of the winning bid price, the blank check will then be added to the $3,500 to equal the 3% of the winning bid price. Cash Equivalent(s) should be made payable to yourself.

Those who register on auction day will be required to complete the Auction Registration Form and present a $3,500 Cash Equivalent as well as a blank personal check. Auction day registrants will be limited to the purchase of one residence only.

2. ON-SITE INSPECTION AND SALE DOCUMENTS
You should physically inspect all residences you are interested in purchasing. The Condominium Purchase Agreement for Tribute Lofts, a Condominium is available for viewing at the Auction Information Center and should be thoroughly reviewed for details of the offering. Electronic copies of these documents will be made available to Registrants upon request. Please familiarize yourself with the Condominium Purchase Agreement. Winning bidders will be expected to fully execute the Condominium Purchase Agreement immediately after becoming the winning bidder in the auction room. Please note that Buyers will not have time to review the Unit Purchase Agreement at the closing table on auction day. Auction staff will fill in the blanks within the agreement and Buyers will simply review for accuracy and sign the document. If you have any questions, please contact the Auction Information Center or your attorney.

3. PROCEDURE
Once you become a successful bidder, you will be required to sign a Bid Confirmation Sheet immediately upon acceptance of your bid and an auction escort will then accompany you to the contract area where you will complete the Condominium Purchase Agreement. All parties intending to be listed as a Buyer under the Condominium Purchase Agreement must be present at the auction or represented via a “specific” power of attorney. Bidders approved to purchase multiple residences will be allowed to remain in the auction hall until the end of the auction and will complete the Condominium Purchase Agreement(s) immediately following the auction.

4. Financing
Financing is available for qualified Buyers. In the event a successful bidder wants a mortgage financing contingency in the Condominium Purchase Agreement, successful bidder must use financing arranged by the Seller’s preferred lender(s) and title company and must be pre-qualified in writing for a specific dollar amount prior to auction day. If Seller’s preferred lender(s) should then fail to fund that amount, the Buyer may elect to terminate the Condominium Purchase Agreement and Seller, in such event, shall refund the deposit to Buyer in full. No other financing contingency will be accepted.

A mortgage representative from the Seller’s preferred lender(s) will be present on site during open house dates to meet with bidders by appointment to assist with financing.

5. Closing
All sales must close on or before July 22, 2008 (30 days after the auction).

6. Extensions
In certain cases, the Seller may grant a fifteen-day extension of the closing date for a non-refundable extension fee of one percent of the purchase price. This fee will not be credited towards the purchase price. Requests for extensions must be made in writing and delivered to the Seller at least five days prior to the scheduled closing date.

All extension requests are evaluated by the Seller on a case-by-case basis and are solely at the Seller's discretion.

7. Additional Conditions
(A) No claim will be considered for allowance, adjustment or rescission based upon failure of the condominium to correspond to any particular expectation or standard (except the specimen Title Insurance Policy).

(B) No bidder shall offer an advance upon the previous bid of less than such amount as the Auctioneer in his sole discretion directs. In the event of a dispute between bidders, the Auctioneer shall make the sole and final decision to either accept the final bid or rebid the property in dispute. The auction will be recorded and if any dispute arises following the auction, the Auctioneer's record shall be conclusive in all respects.

(C) On auction day, the residences will not necessarily be auctioned in the order in which they appear in the catalogue. The order of the bidding will be announced prior to the auction.

(D) Sizes and square footage set forth for the homes are approximate, and only based on the best information available, but actual sizes and square footage may vary.

(E) Seller reserves the right to refuse admittance to or expel anyone from the auction premises for interference with auction activities, nuisance, canvassing, unauthorized video recording or other reasons.

(F) Seller has the right to postpone or cancel the auction in whole or in part, in its discretion, and to modify or add any terms and conditions of sale and to announce such modifications or additional terms and conditions either prior to or at the auction.

(G) No real estate broker or salesperson commission will be honored unless such real estate broker is present at the time of registration and executes a Broker Registration Form at the time of first visit to the Auction Information Center. If a broker has met the demands above, broker will receive a 1% commission.

(H) Bidders should examine the residences and all supporting documentation carefully as each bidder is responsible for evaluating the residences and shall not rely on the Seller or sales agents. All sales are “where is, as is” without warranties or guaranties of any kind, expressed or implied, except for those warranties stipulated in the Condominium Disclosure Package for Tribute Lofts, a Condominium. All residences will be sold unfurnished.

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

Auction Day
Sunday, June 22nd at the Omni Hotel at CNN Center
100 CNN Center, Atlanta, GA 30303
North Tower M2/International Ballroom Level
Phone: 404.659.0000
Fax: 404.525.5050

Bidders should arrive for check-in at 12:00 Noon
The Auction will begin promptly at 1:00 PM and will last approximately 1.5 hours.

Directions to the Omni Hotel
FROM I-75 North & I-85 North (Traveling North from The Hartsfield-Jackson Atlanta International Airport):
Take I-85 N (Merges with I-75 N) to International Boulevard Exit (exit 248C). At the second light at the top of the exit ramp, turn left onto Andrew Young International Boulevard. Then turn left onto Centennial Olympic Park Drive. Take the first right on Marietta Street. Motor Lobby entrance is 1 block on left side of Marietta Street.

FROM I-75 South & I-85 (Driving South):
Follow I-75/85 S into downtown Atlanta. Take exit 249-C (Williams Street) and continue straight at exit. Go to the 5th traffic light and turn right onto Andrew Young International Boulevard. Turn left onto Centennial Olympic Park Drive and go 3 blocks to Marietta Street and turn right. The Hotel Motor Lobby will be on your left.

FROM the East Via I-20:
Take I-20 West to exit 56B (Windsor Street/Spring Street). Turn right onto Spring Street. Go approximately 1/2 mile to Marietta Street. Turn left onto Marietta Street and go two blocks to Andrew Young International Boulevard. Turn left into the Hotel Motor Lobby.

FROM the West Via I-20:
Take I-20 East to exit 56B (Windsor Street/Spring Street). Turn left onto Spring Street. Go approximately 1/2 mile to Marietta Street. Turn left onto Marietta Street and go two blocks to Andrew Young International Boulevard. Turn left into the Hotel Motor Lobby.