Competitive Written Bid Auction

Cotton Center LPG, Inc. has ceased operations and will offer the Real Estate and Inventories at Public Auction.

The Real Estate and Inventory will be offered as one Lot.

Written Bids will be received from 4-7-03 to 5-5-03 10:00 AM
Bids must be in the possession of Cullen Johnson Equipment & Auction before
5-5-03 10:00 AM to be recognized.

The winning bidder will be determined at the office of Cotton Center LPG, Inc. Cotton Center, Texas 5-5-03 at 10:00 AM.

Cotton Center LPG, Inc. reserves the right to accept or reject any and or all bids.

Contact Cullen Johnson Equipment & Auction to make an appointment for inspection and obtain a bid packet at 806-298-4607 Office, 806-298-2811 Fax,
or johnsonequipment@door.net e-mail.

Real Estate
Legal Description: Post Office CC BLK 3 Lots 6-12, Cotton Center, Hale County, Texas.

Located North on FM179 from Cotton Center, Texas South of the water tower on the East side of road.

Improvements
Approximately 1950 square feet metal structure commercial building, concrete floor, restroom, security system, 2 walk through doors, 2- 10’ x 9’ roll up metal doors, Globe bay hoist, exterior concrete apron.

4000 gallon in ground fuel tank, Veerer-Root TLS-350 UST Monitoring System, key pump distribution system. This system was updated in November of 1998 and is in compliance with state regulation to the best of our knowledge.

Approximately 1400 square feet storage building, concrete floor, wooden structure with metal exterior.
See pic See pic

Shop Equipment Coats Rim Clamp Limited Edition Tire Machine Coats 40-40 A Tire Machine 3HP Single Ph 220V Air Compressor 1976 Ford F-150 Pickup Associated Battery Charger Hein-Werner Hyd Bumper Jack Hein-Werner Hyd 4T Floor Jack Hein-Werner Hyd 2T Floor Jack Dayton Oil Fired 150,000 BTU Heater New Tires Tires pic Tires pic Tires pic 4- 9.5 L-15 Implement 2- 5.9-15 Implement 2- 6.70-15 Implement 2- 8.5-14 Implement 1- 9.5-15 3 Rib 1- 23x8.5-12 Lawn 2- 6.9-9 Lawn 1- 10.00-16 4 Rib 2- 10.00-16 3 Rib 1- 11.00-16 3 Rib 2- 12.5L-15SL 2- 11L-14 2- 9.5L-14 1- 11L-16 1- 12.5L-16 5- 11L-1 1- 10.00-20 Truck 1- 8.25-20 Truck 1- 7.50-20 Truck 1- 31x10 50R-15 New Automotive Tires: 2- P195/75 R14 1- P195/70 R14 1- 6.70-15 1- P225/75 R15 2- P205/75 R15 3- 215/75 R15 5- 225/75 R15 1- 235/70 R15 1- P215/70 SR14 1- P235/70 R15 2- LT 225/75 R16 Large Assortment of New Tire Tubes, Boots, Valve Stems, Patches, and Misc. of all kinds New Tillage Parts Sweeps pic 13- 12” Cult Sweep 10- 12” Hard Surf Cult Sweep 14- 12” Cult Sweep 7- 16” Hard Surf Cult Sweep 12- 16” Cult Sweep 2- 20” Hard Surf Cult Sweep 3- 20” Cult Sweep 8- 18” Cult Sweep 10- 24” Cult Sweep 15- 8” Cult Sweep 4-10” Cult Sweep 16- 4” Cult Sweep 18- 4” Cult Sweep 14 Springtooth Spikes Shank Savers R-A-C 24” Stubble Mulch Sweeps 6- 8” Busters 10- 14” Busters 4- 12” Chisel Sweeps 9-8” Chisel Sweeps 16- 8” HS Chisel Sweeps 8- 10” HS Chisel Sweeps 11- 12” HS Chisel Sweeps 8- 6” Chisel Sweeps 9- 16” Shovels 11- 16” Chisel Sweeps 6- Springtooth Tires RAC Hub RAC Ripper Knives RAC Harrow Teeth 2- 1x3 RAC S Shanks 2- 4x4 RAC 1x3 Offset Clamps 2- 1x3 Shanks 2- Knife Clamps	New Wheels 2- 15x6 4H 1- 15x10 8H 1- 15x8 6H 3- 15x8 5H 1- 15x10 6H 2- 14x5 4H Shop Tools And Miscellaneous Grease Pump 3- Oil change Canisters 5- Grease Guns 1- Air Grease Gun 1- Suction Filter Wrenches Camel Vulcanizer 1.25 HP 5 gal. Shop Vac 2 Wheel Dolly 1” Air Impact Wrench IR ½ Impact Wrench B&D ½ Impact Wrench ½ , ¾, 1’ Impact Sockets ¾ Socket Set Cheetah Model CH-5 Tire Tools of all kinds Table with Vice 2- AL Scoops 2- 4 Ways Air Hoses Air Blower Drum of Naptha Drum of Kerosene Cast Iron Bath Tub Wheel weights 2 Boxes Nails US Berkel Scale Shop Brooms Evaporative Cooler New Fuel Nozzle Large Assortment of Hand Tools B&D Jig Saw IR ½ Air Racket Mend-Rite Vulcanizer Brass Fittings Exchange Starters & Alt Tire Racks Used Wheels Used Tires of all sizes Kelvinator Ice Box Sharp Microwave Dearborne Heater New Nuts, Bolts and Fasteners Large Variety of Nuts & Bolts ¼ to 1½ Plow Bolts Carriage Bolts Grade 5 Hex Bolts Oil and Grease 5 gal 85 W-150 Gear Oil 5 gal 80W-90 Gear Oil 11- Cases 1 gal Service Pro Antifreeze 5- Cases SAE30 Texaco Quarts 6- Cases SAE30 Havoline 4- Cases Preferred Choice 2-2.5 gal Hyd Oil 3- Cases Preferred Choice 303 2-2.5 gal Hyd oil 3- Preferred Choice 5 gal hyd oil 5- 1 gal Windshield Wash 1- Case 15-40 Pennzoil Qt 1- Case 10-40 1- Case SAE 30 Pennzoil Qt 2 Qts SAE30 Castrol 3 Cases Pennzoil Tube Grease Large Assortment of Engine Oil & Transmission Oil in Qts
New Parts Inventory
Auto Sealed Beam Lamps & Bulbs 4- 1,000,000 Candle Power Spot Lights Heat Lamp Nicholson Files Shovel, Yo-Yo, Hoes, Fork Garden Hose Heat Tape Machine Washers Turnbuckles Irrigation Pipe Gaskets Pull Pins, Clevis, 3 pt Pins & Bushings Rubber Straps Polish, Cleaner Caulk Chain Lube Hyd Ends & Fittings Wix, Fram, AC Delco, Motorcraft, Baldwin Air, Oil & Fuel Filter Pipe Fittings, Large Assortment of Pipe Valves Wagner Brake Shoes, Pads & Parts 2- 5 gal Cotton Spray Oil Fire Power 60” & 13 Welding Rods, Strikers, Cast Rod Milton Air Chucks, Gages, Fittings & Tools 3M Glue Pro Poxy, JB Weld Tire Sealer Air Hoses Plastic Hose Barbs, Fittings, Compression Couplers Implement Hubs & Bearings Gated Pipe Parts Tarp Stripper Bearings, Gears, Belts, Pulleys New & Rebuilt Starters, Alt, Fuel Pumps, Water Pumps Large Assort of Hose from ¼ to ¾ Large Assort of Dayco Belts Seed Talc, Graphite Powder AC Delco, Champion & Motorcraft Spark Plugs Fuel Nozzle Barrel Pump Funnels Battery Terminals & Bolts Booster Cable Clamps Glass Cleaner	Standard Plug Wires, Standard Ignition Parts, Murphy Switches Rockhill Shock Absorbers Grease Fittings Battery Cables & Fittings National Oil Seals BCA, Bearings TRW, Precision & Weasler Universal Joints Lug Bolts & Nuts Cotter Pins Spindle Nuts Sait 7” & 9” Grinding Wheels Bolt Cutters 3/16 CM Chain Dayton Hose Clamps Spray Nozzle & Parts Stant Fuel & Radiator Caps Stant & Ac Delco Thermometers Freeze 12 R-134A Oil Changer Berryman B-12 Chemtool Fuses Starting Fluid WD-40 De-Icer Marvel Mystery Oil Bug Killer Off Anti- rust Brake Fluid Power Service STP Standard Electrical Center Display Lisle & Cal-Van Specialty Tools Wire Brushes Sait Grinding Wheels Nut Drivers Vise Grips Pliers, Dykes Hanson High Speed Drill Bits & Tap Display O-Ring Assort Leather, Cotton & Rubber Gloves Standard Electrical Parts Booster Cables Hand Cleaner Shop Towels Cable Clamps CM Chain Hooks Plus much, much more This is only a partial listing Please make your own inspection

TERMS AND CONDITIONS: All purchases must be settled for on day of sale. 25% of total sales price due at conclusion of auction, the balance due at closing within 10 days. Seller will Provide Warranty Deed, all other closing costs will be the responsibility of purchaser. Taxes on real estate and inventory will be prorated on day of closing. Purchaser will take possession upon closing. The auction company and sellers make no warranties or guarantees as to genuineness, authenticity, or condition of auction items and is not responsible for advertising discrepancies or inaccuracies. All sales are final when awarded to the successful bidder. Buyer accepts full responsibility for all purchases and holds auction company and sellers free of any liability. No item is to be moved until proper settlement has been made. Everything sold "AS-IS". Not responsible for accidents. If you have not established yourself with our company, please furnish Bank Letter of Credit.