The Property is being offered in its present AS-IS condition. This property includes a well that is currently active and not abandoned. The City has no plans for its use. Upon purchase of this property, the new owner will assume responsibility for the well and its future abandonment. ADEQ and the City will require a permit to have the well decommissioned prior to any development of the property. The new owner would need to inform the State of the transfer of ownership/responsibility for the well. Information on the well can be obtained on the website.

DESCRIPTION OF REAL PROPERTY

Property Location: The Property is located at 81 Southwester Lane, Lake Havasu City, Arizona. There has been a request/application to make this property available for sale, and it has been determined that this public property is no longer necessary for a public purpose. See Attachment: Tract Map.

APN: 108-16-210

Tract-Block-Lot: Tract 118, Lot A

Appraisal/Value Assessment: The Property was appraised on February 9, 2021. The appraisal established the value at $173,000. See Attachment: Appraisal

Current City Zoning: R-1 (Single-Family Residential)

General Plan Designation: Low-Density Residential

Future City Zoning: The property is currently zoned R-1 (Single Family Residential). The General Plan supports this zoning; therefore, the City anticipates single family residential development of the property.

OFFER PRICE

Offer Price should be no less than the Citys set auction reserve; however, all offers will be considered. Final purchase price will also include all costs incurred for the sale of the Property, including but not limited to: Application fee, appraisal cost, staff processing time, closing costs, and Buyers Premium Administrative Fee. Lake Havasu City reserves the right to deny any and all bids.

BID DEPOSIT REQUIRED

The auction is subject to a $1,000 bid deposit. The deposit will be fully refunded to those who do not win the auction. Please see attached Bid Deposit Instructions. YOU MUST REGISTER AS A BIDDER PRIOR TO SUBMITTING A BID DEPOSIT. Bid deposits will be refunded to all bidders, other than the winning bidder, within five (5) business days. Winning Bidder's deposit will be applied to the 5% Buyer's Administrative Fee.

ATTACHMENTS

Buyer is responsible for reviewing all attached documents:

1. Public Notice

2. Tract Map

3. Appraisal

4. Bid Deposit Instructions

5. Payment Instructions

6. Real Estate Purchase Contract

7. Standard Disclaimer for Online Sales

8. Standard Terms and Conditions for Online Sales

9. Auction Description