***OVERBID INFORMATION on 6.01 acres (portion of the listing)*** A hearing date for sale approval and overbid is scheduled for September 24th at 9:30 AM at the US District Court, 2500 Tulare Street, Department B, Courtroom 13 (5th floor), Fresno, CA 93721. The current accepted offer is $60,000. The sale is “As-Is”, with any due diligence of the property conducted and approved prior to the hearing date. The proposed purchaser has agreed that the sale of the 6.01 acres is subject to overbid prior to approval by the Bankruptcy Court. Prior to considering approval of the sale of 6.01 acres, Plan Administrator requests the Court to entertain higher and better offers from qualified bidders. Plan Administrator requests the Court to utilize the following overbid procedure. 1. As a condition of its ability to submit an overbid, any overbidder must notify Plan Administrator of its intent to submit an overbid at least 3 court days prior to the hearing on this motion. 2. Any potential overbidder must submit documentation reasonably requested by Plan Administrator to establish the potential overbidder’s financial ability to close the transaction. 3. Immediately prior to the hearing on this motion any person wishing to submit an overbid must provide Plan Administrator with a deposit in the amount of $20,000 payable to Stewart Title Company. 4. Any overbidder must submit its bid(s) on the same terms and conditions as set forth in the offer and counter offers, except that the price component shall be fixed at the amount of the successful overbid. Within one day following submission of a successful overbid, the bidder must provide Plan Administrator with a signed contract on the terms and conditions set forth in the original offer and counter offers, except as to price. 5. Closing shall be 15 days following the court approval of the successful bid. *** Please contact agents for additional information. *** The subject property consists of 201.29± acres of grazing ground located just northwest of the city of San Andreas. Currently the property is being used as a grazing ground/recreational property, however the San Andreas General Plan, adopted in 2019, has a portion of the property (47.93± acres) designated for low density residential, (38.68± acres) zoned for community center, (96.11± acres) zoned for residential and agriculture, with the balance (18.57± acres) zoned for agriculture. This property offers many possible future development opportunities.
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