American Housing Foundation (AHF) in Amarillo, Texas is looking to sell 13 acres to ExxonMobil for $7.5 million. The property contains 167 town houses that would need to be demolished. Combined with the debts owed on the property, AHF would only net $1.1 million after accounting for the costs of hazardous material abatement and debris removal. Asbestos abatement in the 20 buildings that make up Lakewood Terrace Townhomes alone could cost $1.4 million.

ExxonMobil has agreed to advance AHF the money to complete the demolition and other tasks, according to a request for bankruptcy court approval of the sale.

Because each townhouse is financed separately, there have to be 167 separate closings after AHF acquires the three townhouses it doesn’t own. AHF must also acquire the titles to the streets, alleys, easements and rights of way.

American Housing Federation is trying to reorganize after its creditors tried to force it into involuntary bankruptcy after the April 1 suicide of its founder Steve Sterquell. AHF instead filed for voluntary bankruptcy in June.