MAJESTIC LAKES SUBDIVISION REAL ESTATE AUCTION

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Majestic Lakes Entrance

Majestic Lakes Subdivision

Majestic Lakes Entrance

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Majestic Lakes Clubhouse

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PRIME RESIDENTIAL SUBDIVISION LAND AUCTION

Homesite Lots will be sold Individually with the Option of Buying as a Bulk Package!

Majestic Lakes Subdivision

Lot Number	Square Footage	Acres	Lot Number	Square Footage (ft)	Acres
1	16,932	0.39	38	9, 310	0.21
2	14,275	0.33	39	14, 337	0.33
3	15,928	0.37	40	9, 324	0.21
4	10,737	0.25	41	13, 981	0.32
5	9,506	0.22	42	10, 174	0.23
6	9,310	0.21	43	10, 291	0.24
7	9,310	0.21	44	10, 238	0.24
8	9,310	0.21	45	9, 100	0.21
9	10, 277	0.24	46	9, 310	0.21
10	12, 037	0.28	47	9, 505	0.22
11	15, 051	0.35	48	15, 085	0.35
12	16,429	0.38	49	13, 919	0.32
13	9,401	0.22	50	9, 261	0.21
14	10, 531	0.24	51	9, 310	0.21
15	9, 526	0.22	52	9, 310	0.21
16	9, 310	0.21	53	9, 310	0.21
17	10, 558	0.24	54	9, 313	0.21
18	16, 933	0.39	55	9, 426	0.22
19	13, 359	0.31	56	9, 342	0.21
20	17, 201	0.39	57	9, 434	0.22
21	13, 548	0.31	58	9, 540	0.22
22	16, 000	0.37	59	9, 677	0.22
23	9,956	0.23	60	9, 506	0.22
24	15, 281	0.35	61	9, 295	0.21
25	9, 348	0.21	62	14, 993	0.34
26	9, 998	0.23	63	16, 108	0.37
27	10, 044	0.23	64	9, 310	0.21
28	9, 941	0.23	65	7, 980	0.18
29	9, 927	0.23	66	9, 310	0.21
30	15, 097	0.35	67	9, 310	0.21
31	9, 310	0.21	68	9,315	0.21
32	9, 310	0.21	69	9, 342	0.21
33	16, 478	0.38	70	11, 254	0.26
34	8, 591	0.2	71	18, 901	0.43
35	9, 780	0.22	72	12, 895	0.30
36	12, 229	0.28	73	16, 320	0.37
37	9, 954	0.23	74	15, 553	0.36
			75	17, 325	0.40

Lots & Acreage Being Sold:
75 Developed Single-Family Home Lots
269.26+- Undeveloped Acres

Location:
The Majestic Lakes Subdivision
Unincorporated Lincoln County, MO

Typical Lot Size:
The "typical" lot (those lots that are not located ina cul-de-sac) average apporximately 10,000 sq. ft. and a lot width of 70 ft.

Typical Lot Frontage: 70 ft.

Highest & Best Use: Residential Development

Zoning: There are no zoning requirements in Lincoln County, MO

General Location:
Land is located approximately 50 miles northeast of the City of St. Louis. According to the 2000 Census, Lincoln County is the fastest growing county in the St. Louis Metro Area. The City of Troy serves as the county seat.

Nearby Cuivre River State Park provides 6000 acres of woods, creeks and grasslands and 38 miles of trails. There's swimming, boating and fishing in Lincolon County with plenty of campsites, 2 wild areas and three natural sites noted for their high-quality ecosystems.

There are numberous parochial schools, preschools and daycare centers, higher education may be persued at St. Charles Community College, Lindenwood University in St. Charles and Missouri Baptist College. A satellite branch of Missouri Baptist College is located in Moscow Mills.

Access:
The public and private street systems are in place, are in good condition and adequate for the local traffic needs. Direct access to the subject lots is available from interior streets. Access tot he subdivision is available from Highway MM. The subject has good access to commercial, recreational, and institutional areas, as well as the employment centers of Lincoln and St. Charles Counties.

Easements: There appear to be no adverse easements affecting the subject lots, but only the standard utility and road right-of-way easements.

Utilities:
All public utilities will be available to the developed single family home sites.

Subdivision Amenities:
The planned soccer fields, baseball diamonds, etc. have not been developed as of yet; however, the clubhouse and pool at the subdivision entrance are complete.

Broker Participation Welcome!
Please download and complete the "Broker Participation Form" located under the "Documents" link to the right!

Please see the Terms and Conditions listed under the "Auction Terms" link to the right

75 Developed Lots and 269.26 +- Undevelopted Acres

Majestic Lakes Subdivision, Lincoln County, Missouri

Date: February 20, 2010 at Noon

Address: 33 Majestic Lakes Court, Moscow Mills, MO 63362

Physical Features

§ Size/Dimensions – The “typical” lot (those lots that are not located on a cul-de-sac) average approximately 10,000 square feet and a lot frontage of 70 feet.

§ Type of Property – 75 detached single-family home lots, approximately 269.26 acres of undeveloped land

§ Topography/Drainage – Topography is best described as gently rolling. Drainage of the lots appears to be adequate.

§ Flood Plain – According to the FEMA Flood Insurance Rate Map panels 290869 0185C dated April 2, 1993, it appears that a portion of the subject site (undeveloped/excess ground) lies in the flood plain. It appears that all of the developed lots which are the subject of the auction are not in the flood plain.

§ Access – Direct access to the subject lots is available from interior streets. Access to the subdivision is available from Highway MM. The subject has good access to commercial, recreational, and institutional areas, as well as the employment centers of Lincoln and St. Charles Counties.

Legal

§ Zoning Analysis – There are no zoning regulations in Lincoln County.

§ Easements/Encumbrances/Moratoriums – There appear to be no adverse easements affecting the subject lots, but only the standard utility and road right-of-way easements.

§ Encroachments – There appear to be no encroachments on the subject property.

§ Utilities – All public utilities will be available to the developed single family home lots.

Auction Terms and Conditions

§ Earnest Money - (10%) non-refundable earnest money in US Funds (cash or cashier’s check) shall be deposited by the highest bidder on the individual lots, which is due the day of the auction. For the highest bidder on the undeveloped land, a cashier’s check for $75,000 made payable to BCL Auction shall be deposited on the day of the auction.

§ Brokers Participation Accepted - A broker fee of 2% will be paid to the properly registered and licensed real estate brokers. Call for pre-registration form or visit www.bclauction.com for additional information.

§ Real Estate Terms -These properties are selling at a public auction in their present condition & are accepted by the buyer(s) without any contingencies. It is the buyer(s) responsibility to exercise their own due diligence and inspection prior to bidding on these properties. Secured Creditor has the right to accept or reject any and all bids. All properties are offered As-Is Condition. Any announcements made day of sale shall take precedence over anything previously stated or printed. Closing will be approximately 30 days from the date of the sale. Taxes will be pro-rated and paid at closing.

Live Auction Protocol

§ The 269.26 undeveloped acres will be the first item auctioned, and it will be auctioned as a single lot. However, the bidding will be per acre. For example, if the highest bidder bids $6,000 then they will

owe: $6,000 X 269.26= $1,615,560.

§ The 75 lots will be the second item to be auctioned. The bidding will start by auctioning off just one of the 75 lots. The winner of the first bid will have their option to purchase as many lots as they wish at the winning bid price. For example, if the highest bidder bids $20,000 then they can pick a single lot and just owe $20,000. On the other hand, the winner bidder could take multiple lots: 15, 35, 40-45 which would result in them owing a total of $160, 000 ($20,000 X 8). This process will continue until all the lots are sold.

§ Lastly, the lots and undeveloped acres will be offered in bulk as a single package. There will be a single winning bid for all 75 lots an 269.26 undeveloped acres.

Auction Terms

Upon registration, the BUYER agrees and accepts the following Terms and Conditions set forth by the auction company:

THIS AUCTION WILL BE CONDUCTED PER THE TERMS AND CONDITIONS LISTED BELOW PLUS ANY OTHER PROVISIONS ADDED BY BCL Auction, Bill Cockrum Liquidations, LLC (auctioneer) AT ANYTIME OR AS POSTED ON www.BCLAuction.com.

1. Terms & Conditions:

§ Earnest Money - (10%) non-refundable earnest money in US Funds (cash or cashier’s check) shall be deposited by the highest bidder on the individual lots, which is due the day of the auction. For the highest bidder on the undeveloped land, a cashier’s check for $75,000 made payable to BCL Auction shall be deposited on the day of the auction.

      § Real Estate Terms -These properties are selling at a public auction in their present
             condition & are accepted by the buyer(s) without any contingencies. It is the buyer(s)
              responsibility to exercise their own due diligence and inspection prior to bidding on these
              properties. Secured Creditor has the right to accept or reject any and all bids. All
              properties are offered As-Is Condition. Any announcements made day of sale shall take
              precedence over anything previously stated or printed. Closing will be approximately 30
              days from the date of the sale. Taxes will be pro-rated and paid at closing.

Live Auction Protocol

§ The 269.26 undeveloped acres will be the first item auctioned, and it will be auctioned as a single lot. However, the bidding will be per acre. For example, if the highest bidder bids $6,000 then they will

owe: $6,000 X 269.26= $1,615,560.

§ The 75 lots will be the second item to be auctioned. The bidding will start by auctioning off just one of the 75 lots. The winner of the first bid will have their option to purchase as many lots as they wish at the winning bid price. For example, if the highest bidder bids $20,000 then they can pick a single lot and just owe $20,000. On the other hand, the winner bidder could take multiple lots: 15, 35, 40-45 which would result in them owing a total of $160, 000 ($20,000 X 8). This process will continue until all the lots are sold.

§ Lastly, the lots and undeveloped acres will be offered in bulk as a single package. There will be a single winning bid for all 75 lots an 269.26 undeveloped acres.

2. Registration: BCL, at its sole discretion, may deny registration to any person or entity.

3. Broker Participation: Broker participation is welcome with a 2% Commission paid to the winning Broker/Agent upon completion of the sale. Broker/Agent MUST BE REGISTERED WITH BCL PRIOR TO THE AUCTION DATE. The Broker Registration Form with all Terms and Conditions are posted on this site. Call for pre-registration details or download the Broker's Participation Form on this website and fax to 866.257.6128 before 4PM on February 19th, 2010.

4. Any and all announcements made by the Auctioneer on the day of the auction sale shall supercede any other written or oral information previously distributed.

5. Auctioneer and seller make no representations, warranties, promises, covenants or guarantees, expressed or implied, as to defects in or the completeness or accuracy of the description in any advertising of the property being auctioned and is not responsible for any advertising discrepancies or inaccuracies of any kind. Property is sold on an AS IS, WHERE IS AND WITH ALL FAULTS BASIS WITHOUT EXCEPTION. The AUCTIONEER AND SELLER MAKE NO REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS OR GUARANTEES OF ANY KIND, EXPRESSED OR IMPLIED, AS TO THE NATURE, QUALITY, VALUE OR CONDITION OF THE PROPERTY BEING AUCTIONED OR ITS (THEIR) SUITABILITY FOR ANY USE. THE AUCTIONEER AND SELLER EXPRESSLY AND SPECIFICALLY DISCLAIM, WITHOUT LIMITATION, ANY WARRANTY OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. The buyer hereby waives, releases, remises, acquits and forever discharges the Auctioneer and seller, and their respective employees, agents, or any other person acting on behalf of the Auctioneer and seller, of and from, and shall indemnify and hold the Auctioneer and seller, and their respective employees, agents, or other persons acting on behalf of the Auctioneer and seller from and against any claims, actions, causes of action, demands, rights, damages, costs, expenses or compensation whatsoever, direct or indirect, known or unknown, foreseen or unforeseen, which the buyer now has or which may arise in the future on the account of or in any way growing out of or connected with any defects, latent or otherwise, or the physical condition of any item(s) purchased or any law or regulation applicable thereto.

6. The Auctioneer and seller encourage the buyer to avail itself of the opportunity to make inspections prior to bidding and/or purchasing. The buyer hereby acknowledges that it has inspected or voluntarily waived said inspection of the property upon which it will be bidding and/or does purchase. Auction sales are subject to cancellation.

The seller’s secured creditors must confirm all sales and has the right to accept and/or reject any and all bids.

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Gallery: Majestic Lakes

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Bank Ordered Real Estate Land Auction!

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Auction Terms

Directions/Map

Gallery: Majestic Lakes