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Internet Bidding Auction
Monday October 23, 2006 (12 Noon)

Grandma's Kitchen
5230 North Roxboro Road
Durham, NC
On the right about 1 mile North of the intersection of Duke Street and Roxboro Rd.

Established restaurant to be sold as an ongoing business to the highest bidder. Have your own restaurant for a fraction of the cost. This is NOT a liquidation auction. This IS the sale of a successful business in a high growth area with great potential. Buy this restaurant or spend $200,000 opening one like it.

Day of Sale:

• Preview during normal business hours or during the Open House on Monday, October 16 from Noon until 2PM
• Complimentary refreshements will be served

Details:

• Current rent is $3000 per month
• Well-trained staff already in place
• Plenty of parking
• Well-Appointed Dining Room
• Seats 100 people
• Upholstered booths and chairs
• Rich wood colors for a great atmosphere
• Loads of Kitchen Equipment
• Buffet Bars
• Catering Equipment
• Everything You Might Need

The Seller guarantees transfer of the business free and clear of all debt and encumbrances. The landlord is ready to sign a new lease with any qualified lessee.

The Durham County Health Department has approved this business for an ownership transfer with only minor upgrades and modifications needed. (Health Dept. evaluation available at the auction).

Terms of Sale:

1. In the event you cannot be present at the live auction, you may bid on line up until 5:00 PM, October 22, 2006. No on line bidding will be accepted after this deadline. The high bid received on line will be the opening bid at the live auction on October 23.
2. Property is sold AS IS with all faults, amenities, and privileges.
3. In the event you cannot be present at the live auction, you may bid on line up until 5:00 PM, October 19, 2006. No on line bidding will be accepted after this deadline. The high bid received on line will be the opening bid at the live auction on October 20.
4. Buyer has 10 days to acquire a new lease under the same basic conditions.
5. A 10% Buyers Premium will be added to the final bid to determine the Contract Sales Price.
6. Descriptions and measurements are deemed accurate but are not guaranteed. Bids must be based on your inspection and evaluation.
7. 50% of the contract sales price is due upon execution of the Offer to Purchase.
8. Balance is due at closing within 15 days from the contract date.