NOTICE OF FORECLOSURE SALE By Order of the Third Circuit Court in Civil No. 3CCV-19-0000029, filed August 25, 2022 the Commissioner, named below, has been appointed to sell the property at public auction: I. PROPERTY DESCRIPTION: Address: 92-8430 Tapa Drive, Ocean View, Hawaii 96737; Tax Map Key: (3) 9-2-195-014; Sale must be approved by the Court. The property is sold “AS IS” and “WHERE IS.” II. SALES INFORMATION: Open Houses: THERE WILL BE NO OPEN HOUSES; Auction Date: April 17, 2023 at 12:00 p.m. (noon), at the steps fronting the Hilo Circuit Court, 777 Kilauea Avenue, Hilo, Hawaii 96720. III. TERMS OF SALE: No upset price. The property is sold in its AS IS and WHERE IS condition, without any representations or warranties whatsoever as to title or possession and by way of a quitclaim conveyance by public commissioner’s sale, without an upset price, in accordance with the Court’s August 25, 2022 Order. No bond shall be required of the Commissioner. The successful bidder 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 cashier’s check or by certified check, provided that 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 immediately upon the close of the bidding. At the Court’s discretion, the 10% down payment may be forfeited in full or in part if the purchaser 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. The balance of the purchase price shall be paid to the Commissioner upon approval and confirmation of the sale, provided that if 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. A further hearing shall be held in this action to consider confirmation of the foreclosure sale. At the confirmation hearing, the Court shall hear proof of claim of any other party and shall determine the priority among the claims of the other parties besides Plaintiff, as appropriate. The Court shall also determine the amount of the Commissioner’s fee and the amount of the Attorney’s fees. In the event that the Commissioner and/or the Court determines that it would be appropriate to reopen the auction and accept open bids in Court at the confirmation hearing, such bidding will be allowed on the condition that the initial opening bid be at least five percent (5%) higher than the highest bid received at the Commissioner’s sale, unless otherwise ordered by the Court. 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 interesetd person had bid, or could have bid, at the Commissioner’s sale. If the proeprty is sold to a third party, the Commissioner shall open escrow at a licensed escrow company in the State of Hawaii to close the foreclosure sale of the property. All costs and expenses of closing, including but not limited to the following: costs of drafting the conveyance document, conveyance taxes, notary fees, consent fees, escrow and recording fees, any proof of title or title insurance, costs of securing possession of the Property and any orders of this Court, shall be paid by the purchaser(s). Neither the availability of the title insurance nor securing possession of the Mortgaged Property shall be a condition of closing. Any surplus proceeds after payment of all parties pursuant to the Order Confirming Sale which shall be filed in this matter, shall be held in escrow pending further order of the Court. All named Defendants, including Defendants GONZALEZ, and interests which are junior to Plaintiff’s, except any governmental authority enforcing a lien for unpaid real property taxes as to the Mortgaged Property, will be terminated, upon closing of the sale herein authorized. SALE SHALL NOT BE FINAL UNTIL APPROVED BY AND SUBJECT TO COURT CONFIRMATION. COMMISSIONER: John L. Olson, Olson&Sons, Attorneys-At-Law, A Law Corporation, Post Office Box 1688, Kailua Kona, Hawaii 96745-1688; Telephone No. (808) 323-2677; www.hawaiinuilawyer.com. (HTH1408980 3/19, 3/26, 4/2/23)
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