Non-Debtor Bankruptcy Real Estate Auction – Tremont Outdoor Resort

PRE-AUCTION OFFER

Summary of Auction Terms of Sale: The auction of Tremont Outdoor Resort will be held at 118 Stables Drive, Townsend, TN  37882 on Friday, October 20, 2017 at 12:00PM local time.  To register to bid, prior to the start of the auction, each bidder must provide to the auction company (a) a certified or cashier’s check, payable to themselves, for $250,000 or (b) a Bank Letter of Guaranty on bank letterhead and signed by an authorized bank employee guaranteeing a $250,000 company or personal check written by the bidder with funds available immediately after the auction.  In order to bid online during the auction, you must pre-register with the auction company by Wednesday, October 18, 2017 at 12:00PM local time. Prior to receiving approval to bid online, you must either deliver by Thursday, October 19, 2017 at 3:00pm local time the required $250,000 deposit in the form of a cashier’s check, certified check or wire transfer to the auction company or deliver an acceptable Bank Letter of Guaranty.  The Deposit becomes non-refundable upon ratification of the Specific Performance Real Estate Sales Contract by the Seller.  No online registrations will be accepted after Wednesday, October 18, 2017 at 12:00PM.  Contact kenny@powellauction.com to pre-register to bid online.

A 10% Buyers Premium applies.  Closing must occur on or before December 8, 2017.   All other terms of sale are provided for in the Specific Performance Real Estate Sales Contract that is available in the online due diligence room sale and available upon request from kenny@powellauction.com or stephen@auctionmarkets.com.  If the Seller amends the Specific Performance Real Estate Sales Contract prior to the auction, the auction company will make the updated version available by email, by adding it to the due diligence room and by having printed copies available at the auction.  By bidding at the auction, you are agreeing to all of the pre-printed text in the final Specific Performance Real Estate Sales Contract as presented at the auction.   No changes to the pre-printed text will be allowed.  At the conclusion of the auction, the high bidder will be required to immediately sign the Specific Performance Real Estate Sales Contract and tender the required $250,000 deposit.  All sales are subject to seller approval.

To obtain access to the online data room, you must sign and return the approved Confidentiality Agreement.  You may request a copy of the Confidentiality Agreement by emailing kenny@powellauction.com or stephanie@auctionmarkets.com.  Broker participation is welcome.  Contact kenny@powellauction.com for broker registration guidelines.

Additional terms and conditions may be announced at the auction.