“A down payment equal to 10% of the bid amount is required not later than APRIL 15, 2008.”

These are Caltrans regulations from its “Terms of Option to Purchase” regulations.
“Developer Al” placed a bid of $300,000 for the property so must provide Caltrans with a money order or cashier’s check of $30,000 by the end of the business day.

We expect Caltrans to follow these regulations as firmly as they stood by their original regulations that this property must be sold by public auction – no room for discussion for any alternatives.

Stay tuned…