Friday, July 10,2009 04:00 PM  thru  06:00 PM
Saturday, July 11,2009 09:00 AM  thru  12:00 PM

From Spencer, TN: At the intersection of Hwy 111 and Hwy 30 travel east on Hwy 30 approximately 7.7 miles to the property entrance which will be located on the right. Watch for auction signs!

From Crossville, TN: Follow the directions included below from Knoxville through Crossville to Hwy 30. At Hwy 30 turn right on Hwy 30 West and travel approximately 8.2 miles to the property entrance on your left.

Fall Creek Falls State Park Inn Conference Center
2536 Lakeside Drive, Pikeville, TN 37367

Directions to Fall Creek Falls State Park:
Follow the directions below to the Park and from there follow the Park signs to the Inn.

From Nashville: Take I-40 East to Cookeville (82 miles). Turn right onto 111 South (exit 288). Park entrance is on the left on Highway 284 (40 miles from I-40 to the park).

From Atlanta: Take I-75 North to Chattanooga, take I-24 toward Nashville, take Hwy 27 North toward Dayton and follow Highway 111 North to the park entrance on the right.

From Knoxville: Take I-40 West to Crossville, Peavine Road, exit 322. Take a left off the exit, onto Hwy 101 South. At the 4-way stop, go straight on Hwy 392, through the first traffic light (at 127). Continue straight to the 2nd traffic light (Lantana Road, Hwy 101). Take a left turn onto Hwy 101 South, and travel approx. 30 minutes to T-intersection. Turn left (still on Hwy 101 South) and go approx. 4 miles to Hwy 30. Turn right on Hwy 30 West. Park entrance is approx. 5 miles on the left (at Hwy 284).

THE PROPERTY:
The characteristics of this property set it apart from every other on the Cumberland Plateau. The breathtaking views and over 1.6 miles of common border with Fall Creek Falls State Park are only the beginning. Each tract has access along Hwy 30 and nearly all are adjacent to the most visited state park in Tennessee. You could not ask for a better neighbor to protect the natural scenery and untouched beauty. With tracts of every size, this is a once in a lifetime opportunity for every buyer. Dont take our word for it but rather plan your trip to the Fall Creek Falls area to visit this property and enjoy natures finest for yourself! Inspection Dates (CDT): Friday, July 10 " 4:00pm to 6:00pm Saturday, July 11 " 9:00am to 12:00pm Meet a Westchester representative at the property entrance along Hwy 30 for additional auction information. On Saturday aerial tours of the property will be available. Food will also be provided.

BUYERS PREMIUM: An eight percent (8%) buyers premium will be added to the final bid price to arrive at the total contract purchase price paid by the buyer(s).
PROCEDURE: The property will be offered in 10 individual tracts, any combination of tracts, or as a whole property. The property will be sold in the manner resulting in the highest total sale price.
DOWN PAYMENT: A 10% down payment of the total contract purchase price will be due immediately after being declared the buyer. The down payment may be paid in the form of personal check, business check, or cashiers check. The balance of the contract purchase price is due in cash at closing. YOUR BIDDING IS NOT CONDITIONAL UPON FINANCING.
ACCEPTANCE OF BID PRICES: All successful bidders will sign an Agreement to Purchase at the auction site immediately following the close of bidding. All final bid prices are subject to the sellers acceptance or rejection.
BROKER PARTICIPATION: A commission will be paid to any properly licensed Broker who registers a successful buyer according to the Broker Participation Guidelines. Broker Registration Forms are available from the Auction Company. Forms must be completed and returned no later than 72 hours prior to the auction.
CLOSING: Closing shall occur as soon as possible after applicable closing documents have been completed. Anticipated closing date is on or before August 28, 2009. Possession will be given at closing.
TITLE: Seller shall furnish the buyer(s) at buyers expense an Owners Policy of Title Insurance in the amount of the purchase price, and agrees to provide and execute a proper deed conveying merchantable title to the real estate to the buyer(s).
REAL ESTATE TAXES AND ASSESSMENTS: The 2009 calendar year taxes shall be prorated to the date of closing and shall be paid by the Seller in the form of a credit to the Buyer at closing. Buyer will be responsible for all subsequent taxes.
EASEMENTS AND LEASES: Sale of said property is subject to any and all easements of record and any and all government leases.
SURVEY: AT THE SELLERS OPTION, the Seller shall provide a new survey where there is no existing legal description. Any need for a new survey shall be determined solely by the Seller unless such surveys are required by State or local law. The cost of the survey shall be split equally between Buyer and Seller. The type of survey performed shall be at the Sellers option and sufficient for providing title insurance and the transfer of merchantable title.
MINERAL RIGHTS: The sale of the property shall include all mineral rights owned by the Seller, if any.
AGENCY: Westchester Auctions, LLC and its representatives are Exclusive Agents of the Seller.
DISCLAIMER AND ABSENCE OF WARRANTIES: All information contained in this brochure and all related materials are subject to the terms and conditions outlined in the agreement to purchase. ANNOUNCEMENTS MADE BY THE AUCTIONEER AT THE AUCTION PODIUM DURING THE TIME OF THE SALE WILL TAKE PRECEDENCE OVER ANY PREVIOUSLY PRINTED MATERIAL OR ANY OTHER ORAL STATEMENTS MADE. The property is being sold on an AS IS, WHERE IS basis, and no warranty or representation, either express or implied, concerning the property is made by the Seller or the auction company. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the property. The information contained in this brochure is believed to be accurate but is subject to verification by all parties relying on it. No liability for its accuracy, errors or omissions is assumed by the Seller or the auction company. All sketches and dimensions in this brochure are approximate. All acreages are approximate and have been estimated based on legal descriptions or aerial photographs. Conduct at the auction and increments of bidding are at the direction and discretion of the auctioneer. The Seller and Auction Company reserve the right to preclude any person from bidding if there is any question as to the persons credentials, fitness, etc. All decisions of the auctioneer are final.
NEW DATA, CORRECTIONS AND CHANGES: Please arrive prior to scheduled auction time to inspect any changes, corrections, or additions to the property information.
NOTE: Videotaping, flash photography, and/or public announcements will be allowed on auction day ONLY with prior approval from Westchester Auctions, LLC.
SELLER: Tennessee Land & Development, G.P.