NOTICE OF FORECLOSURE SALE
FEE SIMPLE PROPERTY
3363-A PAPALINA ROAD
KALAHEO, KAUAI, HAWAII
KAUAI TAX KEY NO.: (4) 2-3-09-099:CPR NO. 2
PROPERTY DESCRIPTION: Single story, 3 bedroom, 3 full bath and 1 half-bath dwelling, containing 3,676 s.f.± on limited common element land area of 1.510 acre± on property at 3663-A Papalina Road, Kalaheo, Kauai, Hawaii, identified as Tax Key No.: (4) 2-3-09-099:CPR No. 2.
INTEREST TO BE SOLD: The fee simple interest is being sold.
FORECLOSURE SALE INFORMATION: The property is being sold pursuant to an order entered in an action entitled U.S. Bank Trust, N.A., as Trustee for LSF9 Master Participation Trust v. Summer S. Harrison, Individually and as Trustee of the Summer S. Harrison Revocable Living Trust Dated October 23, 2001, et al., Civil No. 15-1-0086, Fifth Circuit Court, State of Hawaii. That order provides that the property be sold at public auction in "As Is" condition with no upset price to the highest bidder.
COMMISSIONER: Lorna A. Nishimitsu is the court-appointed Commissioner directed to sell the property. The Commissioner’s address and phone number are:
Lorna A. Nishimitsu
Belles Graham, LLP
4334 Rice Street, Suite 202
Lihue, Kauai, Hawaii 96766
Telephone: (808) 246-6965
Facsimile: (808) 245-3277
AUCTION DATE: A public auction will be held on Friday, March 22, 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: Sunday, March 10, 2019 and March 17, 2019, 1:00 p.m. to 3:00 p.m.
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 "Lorna A. Nishimitsu, 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.
ASSESSED VALUES: The County of Kauai’s assessed value for the property for 2019 is $1,580,400.00.
MORTGAGE DEBTS: As of January 31, 2018, the Plaintiff in the foreclosure action was owed $2,171,913.95 (principal of $1,490,429.82, interest to January 31, 2018 of $563,345.32, Late Charges $13,895.15, Property Inspection Costs of $766.75, Property Preservation of $7,775.00, BPO Costs of $100.00, Hazard Insurance of $40,724.78, Mortgage Insurance of $19,534.00 and County Real Property Taxes of $35,343.13), plus interest which continues to accrue from and after February 1, 2018 at the per diem rate of $163.3300, 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.
FURTHER INFORMATION: For further information, contact the Commissioner at the address noted above.
(TGI1174078 2/20, 2/27, 3/06/19)