NOTICE OF POSTPONED FORECLOSURE SALE COURT ACTION: WILMINGTON TRUST, NATIONAL ASSOCIATION, NOT IN ITS INDIVIDUAL CAPACITY, BUT SOLELY AS TRUSTEE FOR MFRA TRUST 2015-1 v. RANDALL M.L. YEE, SPECIAL ADMINISTRATOR FOR THE ESTATE OF SAL NING CHAN AKA HERMAN SAL NING CHAN, ET AL., Civil No. 17-1-0410, Third Circuit Court, State of Hawaii. PROPERTY DESCRIPTION: All of that certain parcel of land (portion of land described in and covered by Land Patent Grant Number 10069 to H. Takaki) situate, lying and being at Olaa, Puna, Island and County of Hawaii, State of Hawaii, being Lot Number 13, of the “Kilauea Settlement Association Lots” and containing an area of 27,561 square feet, more or less. TAX MAP KEY: (3) 1-9-016:013 PROPERTY ADDRESS: 19-3984 John A Lee Road, Volcano, Hawaii 96785 SITE IMPROVEMENTS: None. The dwelling was completely destroyed in a recent fire. AUCTION: Date: Friday, February 10, 2023 Time: 12:00 p.m. (noon) Place: Front entrance of Hale Kaulike (State Judiciary Building), 777 Kilauea Avenue, Hilo, Hawaii. NOTE: The foreclosure sale was originally scheduled for Friday, August 27, 2021 but was postponed. TERMS OF SALE: The property shall be sold in an “AS IS” condition without any representations or warranties whatsoever as to title or possession and by way of a quitclaim conveyance upon the following terms: No upset price. Plaintiff and all parties are authorized to purchase the Mortgage Property at the foreclosure sale. The successful bidder(s) at the sale shall make a down payment to the Commissioner in an amount not less than ten percent (10%) of the highest successful bid price. This payment shall be in cash, money order, by certified check or cashier’s check, provided that the Plaintiff may satisfy the down payment by way of offset up to the amount of its secured debt. Prior to bidding, any person not hereby authorized to credit bid must show the Commissioner such person’s present ability to make the required down payment in such form as aforesaid, immediately upon the close of the bidding. The Commissioner shall accept the highest bid made at the foreclosure sale. At the Court’s discretion, the 10% down payment may be forfeited in full or in part if the purchaser(s) shall fail to pay the balance of the purchase price as hereinafter set forth. In no event shall the purchaser be liable for damages greater than the forfeiture of the 10% down payment. A further hearing shall be held in this action to consider confirmation of the foreclosure sale. At the hearing, the Court may allow reopening of the auction by accepting higher bids, the first of which must be at least one hundred five percent (105%) of the highest bid at the Commissioner’s sale; anyone may reopen the auction by bidding, including all parties to this action and any other interested person, whether or not any such party or interested person had bid, or could have bid, at the Commissioner’s sale. The balance of the purchase price shall be paid to the Commissioner upon approval and confirmation of the sale, provided that if the Plaintiff is the purchaser at the foreclosure sale, said Plaintiff may satisfy the balance of the purchase price by way of offset up to the amount of its secured debt. The Commissioner may require that the sale close through an escrow, even if the purchaser does not require one. All costs and expenses of closing, including without limitation, the cost of conveyance, including preparation of the conveyance document, conveyance tax, escrow and recording fees, any proof of title or title insurance, and notary fees, as well as the costs of securing possession of the Mortgaged Property, shall be the responsibility of and paid by the purchaser(s). Neither the availability of title insurance nor securing possession of the mortgaged property shall be a condition of closing. The Commissioner shall have the authority to continue the sale from time to time at his discretion. The sale shall not be final until approved and confirmed by the Court. VIEWING: By appointment only. FOR MORE INFORMATION CONTACT: Aaron S. Y. Chung, Commissioner P.O. Box 11458 Hilo, Hawaii 96721 Phone: (808)937-4772 Email: aaronchunghilo@gmail.com (HTH1401265 1/22/23)
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