Real Estate Auction 2503 Moose Drive, Laurel, MS

INSPECTION: AUCTIONEERS WILL BE AVAILABLE FOR INSPECTION ON

JANUARY 27, 3:00 - 5:00; JANUARY 30, 2:00 - 4:00 FEBRUARY 10, 2:00 – 4:00 PM

AND 10:00 – 11:00 AM ON AUCTION DAY

(800) 340-2185 • (985) 847-1242 • Fax (985) 847-1224

www.servcorpii.com

THIS PROPERTY WILL BE

AUCTIONED ON SITE AT 2503 MOOSE DRIVE

ON

THURSDAY

FEBRUARY 12, 2015 11:00 AM

INSPECTION FOR REAL ESTATE: BY APPT. ONLY, MON – FRI 10AM – 3PM

& DAY OF AUCTION

MOVABLES TO BE SOLD STARTING AT 10AM INSPECTION FOR MOVABLES:

MORNING OF AUCTION

Bidder’s INFORMATION Package

ServCorp International, Inc. Sencore Properties

101 Magnolia Street Slidell, LA 70460 U.S.A.

Auction Site:

2503 Moose Drive • Laurel, MS

ServCorp International, Inc.

Sencore Properties

January, 2015 To: Prospective Bidders From: Penny Mutz Subject: Auction of Real Property Conducted from 2503 Moose Drive, Laurel, MS This property information package has been prepared to assist you in your

pre-auction due diligence. I welcome and encourage you to attend these auctions and take advantage of quality real estate properties selling at public auction. Should you desire an inspection for lead based paint, environmental studies or any other reports, they will be at your expense. You have ten (10) days prior to the auction to inspect for legal, environmental, etc. Please do not hesitate to contact us if you have any questions. I look forward to meeting you. Yours truly,

Penny Mutz Penny Mutz, CAI Auctioneer / Broker PM/ymm

101 Magnolia Street • Slidell, LA 70460

(985) 847-1242 • Fax (985) 847-1224 • (800) 340-2185

www.servcorpii.com

GENERAL DESCRIPTION

The property is located on west side of Interstate 59 near the golf course and the City of Laurel Public

Works.

Legal Description

See the Legal Description at the bottom of the survey. Please note that it contains: Less and except

75’ x 125’ which is where the cell tower is located.

Improvements thereon bear the Municipal No. 2503 Moose Drive, Laurel, MS 39440

(Some sources have 2507 Moose Drive.)

Physical Characteristics

The topography of the area is gently rolling hills, with the Subject sloping to the rear. There are no

apparent drainage problems.

Streets and Access

From Interstate 59, Exit South Laurel to Highway 11 (Ellisville Road) to Sanderson, then to 7th, go

north on Hillcrest to Moose Drive. Turn right (most GPS and mapping programs indicate left) onto

Moose Drive, the auction site will be on the left.

Zoning

The subject property is in an industrial zone. Information from the City of Laurel Zoning Enforcement

and Inspections indicate that due to being closed for more than a year, the permitted use for

club/fraternal organizations has lost the grandfathered state. Permitted uses are industrial unless a

Special Exception is granted. For more information contact the zoning department at (601) 428-6438.

Utilities

Public utilities available include electricity, telephone and water.

Police and Fire Protection

These services are provided by the City of Laurel.

Special Assessment and Fees

There are no known special assessments or fees.

Flood Zone

The property is located in Flood Zone “X” not considered a Flood Hazard zone.

DESCRIPTION OF IMPROVEMENTS The general description of the improvements is typical for a lodge or fraternal organization.

General Description

Living Area 9096 Square Feet (approx.)

Covered Patio Area 495 Square Feet (approx.)

Open Patio Area 558 Square Feet

Covered Entry 98 Sq. Ft & 112 Sq. Ft.

Lot Size 295.16’ x 295.16’ Less and Except 75’ x 125’ (where cell tower is located.)

Year Built 1981 (approximately)

Construction Features

Foundation Slab

Exterior Walls Brick/concrete block

Roof Shingles (new in 2013!)

Insulation Unknown

Finish Schedule – Finished Area

Floors Tile and carpet.

Walls Paneling, Drywall

Ceiling Acoustical Tile

Mechanical and Equipment

Air Conditioning Central and Heating

Plumbing Three sets of men’s/ladies restrooms

Electrical All Electric, energy efficient

Site Improvements

Landscaping Moderate

Parking Large Lot

Comments: This property has easy and quick access to Interstate 59 and Highway 11 leading to

downtown Laurel or elsewhere throughout the state.

Directions to property being auctioned: From I-59 & Hwy 11, go to Sanderson, then to Hillcrest, go north

to Moose Drive, turn right. Property will be on the left.

PHOTOGRAPHS

Front View Rear View

Multipurpose Room with Bar Multipurpose Room

Kitchen Commercial Exhaust Hood

ADDITIONAL PHOTOGRAPHS

Activity Room Keeping Room

Room for Cold Storage Office

Rest Room

Dressing Room

PHOTOGRAPHS

View of Entry Entry View

Kitchen Multipurpose Room

Office Pass thru from activity room to kitchen

ADDITIONAL PHOTOGRAPHS

Rear Rear View

Rear Yard A/C systems on each end of the building

View from East Side Street Scene

LOCATION MAP

FLOOD MAP

SKETCH OF THE IMPROVEMENTS

Survey Note: Less 75’ x 125’ taken from southwest corner.

BUYER’S TERMS AND CONDITIONS FOR REAL ESTATE

1. AUCTION LOCATION: The auction will be held at 2503 Moose Drive, Laurel Mississippi at 11:00 am on

February 12, 2015.

2. INSPECTION: The property may be inspected during open house on January 27th from 3pm to 5pm,

January 30th from 2pm to 4pm, February 10

th from 2pm to 4pm, on auction day between 10 – 11:00 am

and by appointment.

3. TERMS: 10% DOWN PAYMENT on auction day ~ Buyers must register with $2,000 cash or CERTIFIED

FUNDS for bidding. These funds will become a part of the down payment and will be credited to the buyer

at closing. ~CLOSING to be held within (30) thirty-days. This deposit is non-refundable.

4. “AS IS, WHERE IS” – Buyer shall have ten (10) days before the auction to conduct termite, lead based

paint and any other tests required by Buyer or Lender (at Buyer’s expense). All information contained

herein was taken from sources believed to be correct, but is not guaranteed.

5. 2% BROKER PARTICIPATION for pre-registered clients that are registered by Wednesday, February 11

by 5PM CST in writing. Call for Broker Participation Registration Package. No oral registration will be

accepted. No commission will be paid to a Broker/Agent who is acting as a principal.

6. Auction SUBJECT TO LEGAL DESCRIPTION of record. Note that the cell tower is not a part.

7. FINANCING must be arranged before the auction date and will not be a contingency of the bid at auction.

8. THE HIGH BID FOR THE REAL ESTATE will be accepted on Auction Day “Subject to Owner

Confirmation.” A 10% Buyer’s Premium will be added to the final bid to determine the Contract Price.

9. ANNOUNCEMENTS made by the Auctioneer at the time of the auction will take precedence over any

printed material. Conduct of the auction and increments of bidding are at the sole discretion of the

Auctioneer. Other terms may also apply.

Please plan to attend inspection and open house to become familiar with each property.

Additional Terms of Auction

Property will be sold to the highest bidder(s) on auction day subject to owner confirmation and/or

Bankruptcy Court Approval, which ever applies. High Bid plus 10% Buyer Premium will determine

contract price. Successful bidder shall deposit irrevocable earnest money to equal the 10% down

payment on auction day, to be credited to buyer at closing on or before March 14, 2015. All properties are

Sold without buyer contingency of any kind, have financial arrangements secured prior to bidding.

Marketable title conveyed by Special Warranty Deed, subject to any easements, restrictions and

reservations of record. Possession given upon Close of Escrow. Taxes will be prorated to closing date

based on the 2014 - 2015 tax levy. Descriptions and information are from sources deemed reliable,

however, neither Seller nor Auctioneer/Brokers are making any guarantees or warranties, actual or

implied. Property sold "AS-IS" with “Waiver of Redhibition” therefore, buyers are encouraged to inspect

the property to the extent deemed necessary, both on and off premise and rely on your own judgment

when bidding. It is the Bidder’s responsibility to determine condition, age, genuineness, permitted uses

under the industrial zoning, value or any other determinative factor. ServCorp International, Inc./Sencore

Properties will attempt to describe the properties in advertising, but makes no representations. In no

event shall ServCorp International, Inc. or Sencore Properties be held responsible for having made or

implied any warranty of merchantability or fitness for a particular purpose. Bidder shall be the sole judge

of value. ServCorp International, Inc./Sencore Properties shall endeavor to describe the property in detail

and any pertinent information. Auctioneer - Brokers are representing the Sellers’ interests in this

transaction. Announcements made at the auction take precedence over any printed material or prior

representations. Sencore Properties & ServCorp International Inc., herein referred to as auctioneers,

reserves the right to deny or revoke any buyer or seller at any time, without notice or consent at their sole

discretion. Defaulting or fraudulent bidders are responsible for auction commissions, loss of earnest

money, collection and/or attorney fees, and may be reported to authorities. Auctioneer reserves the right

to add or remove any property from the auction and make alterations to any auction listings or terms &

conditions at any time. All properties will be sold with a reserve and are subject to the Seller’s

confirmation or Bankruptcy Court approval, which ever applies. Auctioneers at their discretion will have

the final say as to disputes among bidders and sellers. All auction participants must be of legal age and

properly registered in order to bid or sell. Any person buying or selling on behalf of another person or

entity must have a valid, legally enforceable, unexpired, recordable Power of Attorney approved by

AUCTIONEER prior to the auction. If a Bidder is bidding on behalf of a corporation, the bidder shall be

individually bound until the bidder presents a corporate resolution prior to closing. The act of bidding is

deemed a representation and warranty to the Seller and Auctioneer that he/she has read the “Auction

Terms and Conditions” in its entirety, including addendums or amendments, prior to bidding. If a bidder

has not read and agreed to be bound by these documents, he/she should not bid. Sellers reserve the

right to accept or reject any offers at their sole discretion, regardless of the manner in which they are

received. No offer shall be deemed fully accepted until the “Real Estate Agreement to Purchase Contract”

is signed by both parties. All bidders must be prepared to pay a 10% buyers’ premium in addition to the

final high bid amount equaling the properties Total Contract Price. A successful bidder must,

Additional Terms of Auction, Continued

1.) Complete an Agreement to Purchase Contract immediately following the auction. 2.) Pay the stated

Earnest Money Deposit in the form of certified funds. 3.) Close on the property within thirty (30) days of

the auction. If a high bid is not accepted by the seller, all earnest money will be promptly refunded. All

properties are sold with cash contracts, and are NOT CONTINGENT UPON FINANCING.

(985) 847-1242 • (800) 340-2185 • FAX (985) 847-1224

penny.mutz@servcorpii.com

www.servcorpii.com

This is a ServCorp International, Inc./Sencore Properties Joint-Venture Auction.

Penny Mutz, CAI, Auctioneer, LA 655-15, MS 1319/1239F • Real Estate Broker LA & MS

Penny Mutz is licensed by the LA & MS Real Estate Commissions.

ServCorp International, Inc. Sencore Properties

101 Magnolia Street Slidell, LA 70460 U.S.A.