Promissory Note and Deed of Trust for Auction

Internet Auction Sale of Promissory Note and Deed of Trust to be conducted by Cunningham & Associates, Inc as auctioneer, described as below:

• All of the bankruptcy estate’s legal or equitable interests in a Promissory Note Secured by Deed of Trust dated January 9, 2007, in the amount of $114,071.97, in which Glenn T. Way is the promisor and Warren C. Way (Debtor Herein) is the payee (the “Note”). The Note states, among other things, the following: “This Note shall be paid in one lump sum which shall be fully paid within five (5) days of the close of escrow in the event the real property commonly known as 405 San Miguel Drive, Arcadia, California is sold; or within sixty (60) days from the date of death of promisor, whichever occurs first. If title to the Property remains in the Promisor’s name upon his death, the remaining principal and interest due, if any, shall be paid in full to Promisee from Promisor’s estate. Interest of Six Percent (6%) per annum shall begin accruing as of the date escrow closes if the property is sold; or shall begin accruing as of the date of death of the undersigned, whichever occurs first.”; and
• All of the bankruptcy estate’s legal or equitable interests in a Short Form Deed of Trust in the amount of $114,071.97, dated January 9, 2007, that recorded on April 25, 2007 at the Recorder’s Office, Los Angeles County, California, Instrument No. 20070991126, in which Glenn T. Way is the Trustor and Warren C. Way is the beneficiary (the “DOT”). The DOT is secured by property identified as: LOT 35, OF TRACT NO. 15337, AS PER MAP RECORDED IN BOOK 346 PAGES 12 AND 13 OF MAPS, IN THE OFFICE OF THE COUNTY RECORDER OF SAID COUNTY. The DOT states its purpose is, among other things, securing payment of the indebtedness evidenced by one Promissory Note of even date herewith, and any extension or renewal thereof, in the principal sum of $114,071.97 executed by Trustor in favor of Beneficiary or order.