CITY OF HARTFORD

TAX SALE

JUNE 14, 2003

BIDDER’S INFORMATION

The following rules will be applicable to the sale by auction of those certain parcels of real estate to be sold on June 14, 2003 in satisfaction of delinquent taxes as provided by Connecticut General Statutes Sections 12-155 and 12-157. Rights of purchasers are subject to the limitations, including rights of redemption of the taxpayer and others, as provided in the General Statutes. In the event any property is not redeemed within the time provided by law, any lien for taxes coming due after the date of the sale will continue to have priority over the rights of the tax sale purchaser and the tax sale purchaser may have personal liability for some or all of such taxes. Prospective bidders are urged to consult with their legal counsel concerning these and other legal implications of purchasing real estate at a tax sale.

1.     Properties described in legal notices published in advance of the sale are subject to being withdrawn at any time upon payment of the taxes, interest and other charges, or at the discretion of the Collector.

2.     Persons wishing to bid on any property offered for sale must be registered on the form provided by the Collector. Such form requires the bidder to provide his or her full name, social security or federal identification number, mailing address, and such other information as the Collector has deemed to be in the interest of the efficient administration of his duties. Bidders will have been assigned bidder numbers. A $4,000.00 deposit in cash, money order or certified check will be required for each property to be bid upon. On those properties with total amounts due of under $4,000.00, the minimum deposit will be $1,000.00 payable in cash, money order or certified check. This $1,000.00 deposit amount, however, will not be a sufficient deposit on any properties where the bidding will start at over $4,000.00.

3.     Successful bidders will be required to make payment in full of the remaining amount due on the bid price no later than 4:30 p.m. on Friday, June 20, 2003 or they shall forfeit their deposit and the right to purchase the property. This payment must be made by cash, money order or certified check, payable to "Tax Collector, City of Hartford".

4.     The tax status of all successful bidders will be checked by the Tax Collector for outstanding real property, personal property or motor vehicle tax delinquency to the City of Hartford. The Tax Collector reserves the right to forfeit any bid if any such delinquency of the successful bidder is not cured by 4:30 p.m. June 20, 2003. The successful bidder shall then be unable to complete the transaction of property purchased at the sale and shall forfeit any deposit tendered towards such purchase. Such deposit shall be applied to the successful bidder’s outstanding delinquency in order of motor vehicle, personal property then real property taxes.

5.     The following are acceptable forms of payment: legal tender of the United States, treasurer’s or cashier’s check from a recognized bank, postal money order or certified check certified by a recognized bank. In the event there is a question whether the paying and / or certifying bank on any check is a recognized bank for purposes of the preceding sentence, the Collector shall take into account such evidence as is immediately available to him concerning such institution, such as membership in the Federal Reserve System, insurance by the Federal Deposit Insurance Corporation and general reputation for credit worthiness. All instruments shall be made payable or endorsed by the payee to the order of "Tax Collector, City of Hartford". The Collector reserves the right to require proof that the person negotiating any check is the payer of such check (in the case of certified checks) or the holder in due course of such check (in the case of treasurer’s or cashier’s checks). Notwithstanding the foregoing, all determinations concerning the acceptance of payment in any form which is not legal tender shall be within the Collector’s sole discretion, and his decision shall be final. Bidders shall complete any reports or returns required by the United States Department of Treasury in connection with the tender of payment in currency or any form deemed to be the equivalent of currency.

6.      The Collector reserves the right (a) to reject any and all bids on any property to be sold, (b) to withdraw any and all properties from sale, (c) to sell to the City of Hartford any property offered for sale for the amount of taxes, interest and charges thereon if no higher bid is received, (d) to amend the auction rules and impose additional rules on the auction to assure its’ efficient administration and (e) to adjourn the sale of one or more properties until a later date at a time and place to be announced at the auction as provided by statute. All announcements made by the Collector will supersede any prior oral or written statements.

7.     Neither the Collector nor the City of Hartford makes any representation or warranty concerning any property offered for sale. In particular, no representation or warranty is made as to title, environmental matters, value, or compliance with any laws, codes, ordinances or regulations. The risk of loss to any property as the result of fire or other casualty shall be borne by the winning bidder and/ or persons entitled to redeem, in accordance with their respective interests, and not by the Collector of the City of Hartford. The making available of information concerning the persons and firms who have abstracted titles to the properties to be sold for purposes of statutory notice shall not constitute a representation or warranty as to the qualifications of such persons or firms or of the accuracy and completeness of the work performed by them. No agreement to offer to the public any policy of title insurance or certificate of opinion of title to any property shall be implied by any person or firm’s performance of such services for the Collector or the City of Hartford or the provision of information concerning such services by the Collector or any official or employee of the City of Hartford. Any of such persons or firms shall, however, be free to provide, for consideration, such related services, policies of title insurance, certificates or opinions of title as they choose to provide to members of the interested public consistent with applicable provisions of law. The information concerning parties receiving notice of the sale shall be available for a reasonable time prior to and at the sale to enable prospective bidders, their attorneys and other interested parties to determine what, if any, interests in properties to be sold may remain outstanding after the sale.

8.     Parties already claiming an interest in a property to be sold should seek legal advice concerning the effect of a successful bid for such property.

9.     The Auctioneer conducting the auction shall, in the case of each sale, identify the property to be sold and announce the amount of taxes, interest and other charges sought to be collected. The Auctioneer shall then open bidding at such amount. If there is more than one bid at such price he shall seek higher bids in such increments as he shall determine in his sole discretion, until there is only one remaining bidder. When there is only one remaining bidder, the Auctioneer may, at his discretion, declare such bid to be the winning bid. If there are no bids on a property when first offered the Auctioneer may re-offer said property at the conclusion of the auction.

10.     If the individual or company determined to be the successful bidder of any property does not tender their balance due on the outstanding bid price of such property by the deadline of 4:30 p.m. Friday, June 20, 2003, this will constitute a default of their purchase. The Tax Collector and the City of Hartford reserve the right to then contact the individual or company whose bid was the next highest amount bid on said property if there exists such a bid. The next highest bidder may, by agreement with the City of Hartford, tender their bid to the Tax Collector by cash, money order or certified check no later than 4:30 p.m. Thursday, June 26, 2003, and assume all rights and privileges of the successful bidder. If the next highest bidder is unable or unwilling to tender their bid at this time the Tax Collector and the City of Hartford reserve the right to contact the third highest bidder (if one exists) or other such original bidder of the subject property for the purpose of sale at their bid price.

11.     Assignment of a bid may be requested by a successful bidder to change the name that will appear on the deed from that name under which he or she registered. The assignment may only be a change from the individual to an entity that has been set up by the same individual (an LLC, for example), or from one corporate name to another within the same organization. No assignment will be accepted between unrelated individuals or companies. A bidder wishing to assign their bid in the manner described above must make their request to the Tax Collector in writing on or before June 20, 2003. The City of Hartford reserves the right to reject any request.

12.     Nothing contained in these rules shall be construed to create any contract between the Collector or the City of Hartford and any other person.

13.     The aforesaid properties are sold subject to the taxes on the list of October 1, 2002 and all subsequent years. Properties will accrue taxes and interest on the 2002 Grand List, beginning on July 1, 2003, during the six-month redemption period. If title passes to the successful bidder they will be responsible for payment in full (including interest) to satisfy the amount due.

14.     The aforesaid properties are sold subject to the rights, if any, held by the Federal Deposit Insurance Corporation or the Resolution Trust Corporation (whether in their corporate capacities or as receiver, conservator or otherwise), the United States or any of its governmental instrumentalities, and to easements, covenants, restrictions and similar interests appurtenant to land taxed as a separate parcel.

     The Internal Revenue Service reserves the right to redeem any property with a federal tax lien during an additional one hundred eighty (180) day period following the six month redemption period. This right of additional redemption time applies only to properties with federal tax liens. Such properties with federal tax liens will be noted and announced. If the I.R.S. does not redeem during the additional 180 day period the federal tax lien encumbering the property is extinguished. The successful bidder is not held responsible for the amount liened. Should the need for clear title arise during the additional 180 day period or should the new owner for any reason wish to know of the I.R.S.’s intentions regarding redemption, they may apply for a release from the right of redemption. There is a specific form for this purpose that may be requested from the U. S. Attorney’s Office.

15.     Neither the Collector nor the City makes any warranty or representation as to any interest in the aforesaid premises created, or exempted from levy and sale, or rights of the United States to redeem, under laws of the United States, and, by acceptance of this deed, the said grantee agrees that it shall have no claim or cause of action against the Collector or the City by reason of any such interest or rights.

16.     The Collector reserves the right to make any sale subject to any lien or other interest in favor of the City of Hartford, the State of Connecticut, or any other governmental, public or municipal entity in the interest of avoidance of litigation over questions of priority or immunity from levy and sale of such interests, to further harmonious intergovernmental relations, or for any other purpose. In such cases, the interest (s) subject to which the property is to be sold will be (a) announced at the commencement of bidding, (b) noted on the written acknowledgment of the winning bid, and (c) stated as an exception on the Collector’s Deed.

17.     All decisions of the Tax Collector and of the Auctioneer conducting the sale are final as to the sale order, the methods of bidding, disputes among bidders, increments of bidding, and any other matters that may arise before, during or after the auction.