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Page 15 · column 3 of 11 · from the scan, no model involved

THE STUART PROPtRTY" approximately 9 77 acres of vacant land located on Blue Ridge Ave., Route 622. Town of Washington, tax map 20A-1-parcels 15. 16, 17 and 21. believed to be zoned for residential use on 1 1/2 acre minimum lots All of the above-described property (collectively, the "Property") will be sold and conveyed subject to all senior tenancies and all easements, right - of - way. building restriction lines, covenants, conditions, agreements, restrictions and all senior liens and encumbrances of record, including real estate taxes and special assessments, if any. The Schafer Farm will be offered at auction first, followed by an auction of the Stuart Property. A third auction will then be conducted, wherein both properties shall be offered as a single lot If the highest bid of the third auction exceeds the total of the highest separate bids on the first and second auction, the highest bidder of the third auction, subject to the Noteholder s rights to reject all bids, shall be awarded purchase rights, otherwise, purchase rights to the separate properties shall be awarded to the highest bidders of the first and second auction, re^ spectively
TERMS OF SALE: ALL CASH AS A CONDITION TO PARTICIPATING IN THE AUCTION, EACH PROSPECTIVE BIDDER MUST HAVE FIRST DELIVERED TO THE TRUSTEES A BIDDING DEPOSIT IN THE AMOUNT OF $25,000 00. in the form of cash, certified check or
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