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<br />Terms of Annual Sale <br />Sale Date - November 20, 2007 <br />10:00 A.M. <br />Cass County Auditor's Office <br /> <br />1. Each parcel of land will be sold at auction to the highest bidder for not less than the <br />posted minimum sale price. Terms are cash or check to be deposited immediately with <br />the Cass County Treasurer's Office. The county is deeding its interest in the property. <br />We recommend the successful bidder perfect their title. The county issues what is known <br />as a "county deed". Any questions ofa legal nature should be discussed with your <br />attorney. <br /> <br />Please note that the former owner has the right to redeem the property up until the <br />time of sale by paying the entire amount of taxes, specials, penalty, and interest <br />against the property. <br /> <br />2. The descriptions provided are based on the Official Records of the County Recorder's <br />Office and are presumed to be correct. <br /> <br />3. Prospective purchasers are urged to examine the title, location and desirability ofthe <br />properties available to their own satisfaction prior to the sale. The County makes no <br />guarantee, expressed or implied, relative to the title, location or condition of the <br />properties for sale. The County assumes no liability for any other possible liens, <br />encumbrances or easements, recorded or not recorded. <br /> <br />4. Prospective purchasers are advised that some assessments which are levied by agencies <br />or offices other than the County may still be outstanding after the tax sale; in addition, the <br />I.R.S. has the option of redeeming, up until 120 days after the sale, any property on <br />which there is an I.R.S. lien recorded. <br /> <br />5. When property is sold at public auction on which the IRS holds a tax lien, the United <br />States has the right of redemption for 120 days from the date of such sale (26 USC Sec. <br />3712(g) and 7425(d)). The IRS will pay the actual amount paid for the property by the <br />bidder, plus interest at 6% per annum from the date of sale, plus the expenses of sale that <br />exceed any income received from the property. <br /> <br />6. If the successful purchaser desires a survey of the property, it will be at the purchaser's <br />own initiative and expense. The County makes no warranty, either expressed or implied, <br />relative to the usability, the ground location, or property lines of the properties. The <br />prospective purchaser must determine the exact location, desirability, and usefulness of <br />the properties. <br /> <br />Continued <br />