NOTICE OF FORECLOSURE SALE
FEE SIMPLE PROPERTY
6467 G KAWAIHAU ROAD
KAPAA, KAUAI, HAWAII
KAUAI TAX KEY NO.: (4) 4-6-007-027 CPR NO. 0007
PROPERTY DESCRIPTION: Unit 8, being a condominium unit of the "Arruda Estates I" Condominium Project, a 7-unit project, is located at 6467 Kawaihau Road in Kapaa, Kauai, Hawaii. Unit 8 is a single family dwelling containing 3 bedrooms, 3 full baths and 1 half bath with an approximate living area of 2,569 s.f. According to the County’s Real Property Tax records, Unit 8 has an appurtenant limited common element area of 4.132 acres, more or less. The latest public report for the "Arruda Estates I" project shows that Unit 8 has an undivided 16% interest in the common elements of the "Arruda Estates I" project.
INTEREST TO BE SOLD: The fee simple interest in Unit 8 is being sold.
FORECLOSURE SALE INFORMATION: The property is being sold pursuant to an order entered in an action entitled The Bank of New York Mellon, et al. v. Nathan Earl Aiwohi, et al, Civil No. 13-1-0082 JKW, Fifth Circuit Court, State of Hawaii. That order provides that the property be sold at public auction in an "As Is" condition with no upset price to the highest bidder.
COMMISSIONER: Jonathan J. Chun is the court-appointed Commissioner directed to sell the property. The Commissioner’s address and phone number is:
Jonathan J. Chun
Belles Graham LLP
4334 Rice Street, Suite 202
Lihue, Kauai, Hawaii 96766
Telephone: (808) 245-4705, ext. 230
Facsimile: (808) 245-3277
AUCTION DATE: A public auction will be held on Friday, February 15, 2019, 12:00 p.m., noon, at the front steps of the Judiciary Building located at 3970 Kaana Street, Lihue, Kauai, Hawaii 96766.
OPEN HOUSES. No Open House. Property is being sold without any open house pursuant to an order by the court entered in the above entitled action on January 8, 2019.
GENERAL TERMS OF SALE: The property is being sold "As Is". There is no upset price. The sale of the fee simple interest in the property shall be at public auction to the highest bidder. The successful bidder must pay ten percent (10%) of the highest bid in cash, certified check or cashier’s check, payable to "Jonathan J. Chun, Commissioner", at the close of the auction. Potential bidders shall be required to provide proof of ability to comply with the 10% bid requirement prior to participating in the auction. The balance of the purchase price is due upon the approval and confirmation of the sale by the Court, or as otherwise ordered by the Court. At the Court’s discretion, the 10% down payment may be forfeited in full or in part if the successful bidder shall fail to pay the balance of the purchase price as and when required. In no event shall the successful bidder be liable for damages greater than the forfeiture of the 10% down payment. The Purchaser(s) shall pay all costs of closing, including escrow, conveyancing and recordation fees, conveyance taxes and any and all other costs and fees. The Purchaser(s) shall be responsible for securing possession of the property upon recordation and all costs associated therewith. The sale shall be subject to final court confirmation and approval.
FURTHER INFORMATION: For further information, contact the Commissioner at the address noted above.
ADDITIONAL INFORMATION
ASSESSED VALUES: The County of Kauai’s assessed value for 2019 for the property is $1,123,100.00.
MORTGAGE DEBTS: As of May 31, 2018, The Bank of New York Mellon fka The Bank of New York, as Trustee for the Certificateholders of the Cwalt, Inc., Alternative Loan Trust 2006-5T2 Mortgage Pass-Through Certificates, Series 2006-5T2, the Plaintiff in the foreclosure action, was owed $1,049,785.28 (principal of $672,821.90, interest through May 31, 2018 of $331,595.02, plus interest which continues to accrue from and after May 31, 2018 at the per diem rate of $119.82, plus additional late fees, further advances, expenses and attorney’s fees and costs. The mortgage debt is to be satisfied (in whole or in part) out of the proceeds of the sale of the property by the Commissioner.
(TGI1165430 1/16, 1/23, 1/30/19)
