MORTGAGEE'S SALE AT PUBLIC AUCTION
1825 ACUSHNET AVENUE, NEW BEDFORD, MASS.

WELL KNOWN NEIGHBORHOOD BAR WITH LIQUOR LICENSE


WEDNESDAY FEBRUARY 24, 2010 AT 10:00 A.M.

OUR CLIENT HOLDS THE MORTGAGE ON THE REAL ESTATE, FIXTURES, EQUIPMENT AND LIQUOR LICENSE. THIS NEIGHBORHOOD BAR "THE BULL PEN" HAS APPROX. 2992 SQ. FT. AS YOU ENTER ON THE RIGHT IS A LARGE BAR WITH SEATING, ON THE LEFT IS LARGE OPEN AREA FOR ENTERTAINMENT. BEHIND THE BAR`AREA IS A ROOM WITH A POOL TABLE. THERE IS A LARGE KITCHEN AREA AND TWO HALF BATHS. THERE IS AN ADDITIONAL AREA FOR STORAGE. THE BUILDING IS HEATED BY GAS.

THE AUCTION WILL BE HELD IN THE FOLLOWING MANNER

FIRST: FURNITURE, FIXTURES, EQUIPMENT AND REAL ESTATE WILL BE OFFERED FOR SALE TO THE HIGHEST BIDDER: SECOND:THE ALCOHOLIC BEVERAGE LICENSE WILL BE OFFERED TO THE HIGHEST BIDDER. THIRD: THE REAL ESTATE, ALCOHOLIC BEVERAGE LICENSE, FURNITURE, FIXTURES AND EQUIPMENT IN THE ENTIRETY WILL BE OFFERED TO THE HIGHEST BIDDER. IF THE HIGHET BIDDER FOR SALE # 3 SHALL EQUALL OR EXCEED THE CUMULATIVE TOTAL OF THE TWO HIGHEST BIDS FOR SALE #1 AND SALE # 2, THEN SALES #1 AND SALE #2 SHALL BE VOIDED AND ANY AND ALL DEPOISTS PAID THEREFORE SHALL BE RETURNED TO THE HIGHEST BIDDERS ON EACH AND ALL OF THE PROPERTY SHALL BE SOLD TO THE HIGHEST BIDDER FOR SALE # 3. IF THE CUMULATIVE TOTAL OF HIGHEST BIDS FOR THE SEPERATE SALES #1, AND SALE # 2 EXCEEDS THE TOTAL OF THE BID FOR SALE # 3. THEN SALE # 3 WILL BE VOIDED, AND THE HIGHEST BIDDERS OF SALE #1 AND SALE #2 WILL BE THE WINNING BIDDER FOR EACH OF THE TWO SALES.


TERMS:Twenty-Five Thousand ($ 25,000) Dollars in cash, certified or bank check on the "Real Estate and Personal Property Unit and the "Entire Unit";at the time of sale. Ten Thousand ($ 10,000) Dollars in cash, or certified or bank cashier's check on the "Alcoholic Beverage License Unit"; Balance in thirty (30) days of the deed. The succesful bidder(s) shall be reqired to sign a Memorandum of Terms of Sales at the auction sale. Premises to be sold and conveyed subject to and with the benefit of all rights, rights of way, restrictions, easements, covenants, liens or claims in the nature of liens, improvements, public assessments, any and all unpaid taxes, rights of redemption for unpaid federal taxes, tax liens, water and sewer liens and any other municipal assessments or liens or existing encumbrances of record which are in force and applicable over the mortgage whether or not referenced to such restrictions, easements improvements, liens or encumbrances made in the deed. The disposition of the New Bedford Licensing Board and the Alcoholic Beverage Control Commission. Successful bidder resposible for any Mass. Documentary Stamp fee upon delivery of deed. Undersigned reserves the right to accept or reject any and all bids. Other terms announced at the sale, if any.

Note: Neither the Auctioneer or the Attorney makes any representations as to the accuracy of the information contained herein.

MASS LIC. #1344    RI. LIC. #3293
FLA. LIC.#AU-2341
P.O. BOX 41268 NEW BEDFORD, MA.
508-997-0768