Bank Foreclosure for Sale

1. Bank Foreclosure for Sale Three Canyons Development Patagonia, Arizona Owned by: Woodland Escrow & Financial 700 W Hwy 24, Ste A Woodland Park, CO 80863 719.687.9215 ed@coloradolandfinancing.com www.coloradolandfinancing.com

2. Three Canyons The Three Canyons subdivision is located one hour south of Tucson between Sonoita and Patagonia and between west side of Hwy 82 and the Coronado National Forest. Conceived as a “green” development, there is a conservation easement on the property granted to the Sonoran Institute. Through a 1% transfer tax paid to La Semilla Foundation on the Three Canyons properties, the easement ensures proper development of Three Canyons. La Semilla manages and maintains the entire easement for conservation purposes. The subdivision, originally marketed in 2007, consists of 198 lots in four phases: 9 are 36 acre estate lots plus approximately 314 acres of ranchland including 3 houses, barns and corrals. 93 of the acres, including improvements, are subject to a life estate to Craig Bell, 80 years old. The declining Tucson housing market in 2007 to the present has halted home construction and building lot sales.  We presently own everything with the exception of Phase 1 which includes the first 66 lots - 50 of those lots are owned by the National Bank of Arizona, 11 are owned by one investor, and the remaining 5 were sold to private individuals.  In addition 1 of the estate lots was sold to a private party. 

3. We currently own 131 lots: 8 estate lots which are 36 acres each Phases 2, 3, and 4 consist of 123 lots.  The water lines are installed; engineering is complete including final plat and county approvals.  See plat for acreage but lots range from 1 to 36 acres with most in the 4 to 8 acre range. Average for entire subdivision is 8.37 acres.  Excluding roads and common property that has been set aside for a waste treatment plant for the smaller lots known as the village, there are 1154 acres in lots, 998 of it subject to the conservation easement, plus 314 acres undeveloped for a total of 1488 acres.  There is a water district and water system in place with an unpaid bond payment of $16,000.00/lot that becomes a water tap fee.  Total bond is $2.1 million for our lots.  Underlying debt is a first mortgage due to the original rancher for $2,456,000.00 at 6.5% interest which may be assumed.  When originally developed and appraised, the subdivision was valued at over $35 million.     Asking price: $ 5 million, plus assumption of note to rancher, and water bond obligation. Go to www.threecanyons.com for original sales information.

4. Distances from Three CanyonsPatagonia: 3 miles Sonoita: 9 miles Nogales International Airport: 15 milesTucson International Airport: 45 miles Downtown Tucson: 55 miles Nogales, Arizona, USA: 20 miles Nogales, Sonora, Mexico: 22 miles Nature Conservancy’s Patagonia- Sonoita Creek Preserve: 4 miles Arizona Trail Head: 6 milesArizona’s Wine Country: 12 miles Patagonia Lake State Park: 15 milesSmithsonian Observatory: 60 miles Coronado National Forest: adjacent Empire Ranch: 19 miles

5. Property We Own

8. 93 Acre Life Estate

9. Filing 1 and Estates

10. Filing 1-4 without Estates*Full Subdivision Plat Map available upon request*

11. Acreage Breakdown by Phase