PUBLISHED RESERVE: $375,000

APPRAISED VALUE: $450,000

SIZE: 5.41± Acre site with four buildings

ELEVATION: 800± Feet

ZONING: Rural Public Facility

PROPERTY INSPECTION: Please Call Auction Information Office

FINANCING: Subject to Seller's approval of Purchaser's credit: A 25% down payment with the balance secured by a first deed of trust, amortized over 20 years at 6.5% interest, calling for monthly payments of principal and interest; all due and payable at the end of three years.

DESCRIPTION: This lender-owned property was operated as a charter school until it closed in 2008. It is located 7 miles south of Cottage Grove and Interstate 5. It has potential for re-use as an art and music center, camp, school or other additional uses under the Rural Public Facility Zone. The 5.4± acre site is along Blue Mountain Road and across the road from Lane County's Blue Mountain Park. A 4,752± sq. ft. main school building was built in the 1960's. The building has four classrooms, library, art room, computer room and two restrooms. The building had renovations made in 2003-2006 by the former owner and is in good condition. A 1,216± sq. ft. multi-purpose building with kitchen/eating area, lounge and restroom is next to the main building. It was built in 1980, with a renovation in 2005. There is also a newer 480± sq. ft. building with classroom and restroom near the multi-purpose building. An older 2,280± sq. ft. building that has been used as a gymnasium is located by a field and playground area with equipment. The balance of the site is undeveloped, has residual timber, and is crossed by a creek that is a tributary to Mosby Creek.

The Blue Mountain School property is within a 15 minute drive of the I-5 exit at Cottage Grove, Middlefield Golf Course Community, the new Cottage Grove Community Hospital, and small airport, providing accessibility for its re-use for education, camp or retreat purposes. It is also near both Cottage Grove and Dorena Lakes, with fishing, swimming and water skiing. The property is served by power and phone, as well as having on-site well and septic system with drain field and sand filter. The zoning may allow accommodations/lodging that supports and is ancillary to the allowed uses. (See Supplemental Information Package for details.)

Please Note: Sketch plan is conceptual only. Neither the Seller nor its agents have submitted plan or made any applications to a public agency.

LOCATION: 76132 Blue Mountain Road - Lane County, Oregon. From I-5 Cottage Grove exit 174, proceed east on Row River Road to N. Thorton and turn right and then left onto Mosby Creek Road. Proceed south 4.6 miles to Blue Mountain School Road and then south 1.4 miles to property.

SEALED BIDS DUE NO LATER THAN 5:00 P.M., APRIL 28, 2010

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