NOTICE OF FORECLOSURE SALE BY AUCTION Pursuant to the Findings of Fact, Conclusions of Law and Order Granting Plaintiff’s Motion for Summary Judgment Against All Defendants and for Interlocutory Decree of Foreclosure; Exhibit “A” filed on October 3, 2022 in Civil No. 3CC17100079K, Third Circuit Court in the State of Hawaii, the undersigned Commissioner has been directed to sell the following described property at public auction. DESCRIPTION: Fee Simple Property Located at 75-208 Ala Onaona Street, now known as 75-5711 Lamaokeola Street Kailua-Kona, Hawaii 96740 TMK: (3) 7-5-022-131-0000 One (1) two-story (upstairs/downstairs) with 14 total room count and 8 bathrooms. See, County of Hawaii Real Property Tax Information. NO OPEN HOUSES WILL BE HELD. AUCTION: February 27, 2023, 12:00 p.m. noon at the flagpole at the new court house in Kona (Keahuolu Courthouse), located at 74-5451 Kamakaeha Avenue, Kailua-Kona, Hawaii. TERMS OF SALE: Property to be sold “AS IS” condition, without any representations or warranties whatsoever as to title or possession, without an upset price. Upon fall of the hammer, the successful bidder shall pay a down payment to the Commissioner, by cash or certified check, in an amount not less than ten percent (10%) of the successful bid price, with the exception of Plaintiff, who may use the amount of its secured indebtedness as the required ten percent (10%) down payment. The balance shall be paid concurrently with delivery of the documents transferring title. Such sale shall not be final until approved by the Court. At the Court’s discretion, the ten percent (10%) of the purchase price may be forfeited as reasonable damages in full or in part if the purchaser fails to close within the time set by the Court. In no event shall reasonable damages be greater than ten percent (10%) of the purchase price. Upon confirmation of the sale, the Commissioner is authorized and directed, after the payment of all necessary expenses of such sale, to make application of all the proceeds thereof and all funds which they hold in their capacity as Commissioner so far as the same may be necessary to the payment of amounts found due and owing to Plaintiff from the Borrower under the Loan Documents, including advances, title search fees, costs, expenses, and attorney’s fees, as determined by this Court. Plaintiff, or its designee, is authorized to be a purchaser at any sale, without the requirement of any down payment at said sale. If Plaintiff is the highest bidder, payment of the down payment and the balance of the sale price shall be made by offset against the amount owed to Plaintiff under the Loan Documents. In the event the Commissioner or the Court determines that it would be appropriate to reopen bids in Court at the hearing to confirm sale, such reopened court bidding will be allowed on the condition that any such reopened court bid is at least ten percent (10%) higher than the highest bid received at public auction. Upon closing of the foreclosure sale herein authorized, all Defendants, and any and all persons claiming any interest in the Property by, through or under all Defendants, are forever barred and foreclosed of and from any and all rights, title, and interest and claims at law or in equity in and to the Property, unless allowed by law. The Purchaser shall pay closing costs, including but not limited to costs of escrow fees, title insurance premiums, conveyance document preparation fees, prorated real property and conveyance tax, recordation and costs of securing possession after closing. The inability of the Purchaser to secure title insurance or financing shall not be a condition of closing. Bidders must conduct their own investigation as to any encumbrances that may affect this property. Bidders shall be responsible for their own due diligence as to title, permitting, sewage and all other issues for this property. SALE IS SUBJECT TO COURT CONFIRMATION. For further details and legal description contact: SHAWN MAILE NAKOA, ESQ. Rush Moore LLP A Limited Liability Law Partnership 75-167 Kalani Street, Suite 105 Kailua-Kona, Hawaii 96740 Telephone No.: (808) 324-7575 Commissioner (WHT1401951 1/26, 2/02, 2/09/23)
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