Properties to be Sold: The City of Hartford, CT., and/or its affiliates, subsidiaries or designees (collectively hereinafter referred to as "Seller"), will conduct a series of absolute auction sales (subject to a minimum bid equal to the deposit amount) of certain municipally owned real property located and described in the Auction Brochure on May 19, 2001.

Method of Sale: Aaron Posnik & co., Inc. (hereinafter referred to as "Auctioneer") will conduct the sales by public auction of the properties, which will be sold ABSOLUTE to the highest bidder, subject to a minimum bid equal to the deposit amount. Multiple property purchases shall require multiple deposits, pursuant to Paragraph 5 below. The highest bidder shall sign a Purchase and Sales Agreement in the form included in the Bidder's Informational Packages, immediately upon acceptance of the bid.

Bidding: All bidding is open to the public without regard to race, color, sex, religion or national origin. The properties will be auctioned in the order they are presented in the Auction Brochure or Bidder's Informational Package, subject to change by the Auctioneer. Each sale is complete when the Auctioneer announces "SOLD" and identifies the winning bidder and the amount of the bid. Properties will be sold "AS IS, WHERE IS" and "WITH ALL FAULTS" AND SELLER MAKES NO REPRESENTATION OR WARRANTY WHATSOEVER EXPRESSED OR IMPLIED WITH RESPECT TO ANY MATTER CONCERNING THE PROPERTIES.

Qualifying to Bid: In order to qualify as a bidder you must deposit with the Auctioneer the required deposit in cash, money order, certified or cashier's check, drawn on a U.S. financial institution, at the time and place of the auction (the "Deposit"). All checks for the deposit are to be made payable to yourself, or the Auctioneer, and you must have a separate deposit for each property that you intend to purchase. A form of personal identification is required.

Deposit: The deposit for each successful bidder shall be considered as earnest money and shall be endorsed over to Aaron Posnik & Co., Inc. and shall be held by the Seller or its designees subject to the terms of the Purchase and Sales Agreement. IF THE HIGH BIDDER FAILS TO DELIVER THE BALANCE OF THE PURCHASE PRICE IN ACCORDANCE WITH THE TERMS HEREOF, THE DEPOSIT SHALL BE NON-REFUNDABLE. ALL DEPOSITS MADE BY PURCHASER OF PROPERTY SHALL BE SUBJECT TO THE TERMS HEREOF. PROPERTY SALES ARE NOT CONTIGENT UPON FINANCING. IT IS STRONGLY RECOMMENDED THAT PROSPECTIVE PURCHASERS PREQUALIFY FOR FINANCING PRIOR TO THE AUCTION, IF APPLICABLE.