NOTICE OF MORTGAGEE\u2019S FORECLOSURE UNDER POWER OF SALE
(OPTION/HSBC BANK N/J RE POLITES, APRIL)
HSBC Bank USA, National Association as Trustee for SG Mortgage Securities Trust 2005-OPT1 Asset Backed Certificates, Series 2005-OPT1, whose address is c/o Option One Mortgage Corporation, P.O. Box 57038, Irvine, CA 92619, as Mortgagee under and pursuant to Sections 667-5 through 667-10, Hawaii Revised Statutes, as amended, and first mortgage dated June 15, 2005, recorded in the Bureau of Conveyances as Document No. 2005-123701, as assigned to Mortgagee by assignment dated March 30, 2006, recorded as Document No. 2006-074674, gives notice that: Mortgagee will hold a sale by public auction on Friday, June 2, 2006, at 12:00 noon at the flagpole fronting Hale Halawai, Kailua-Kona, Hawaii 96740, of real property located at 215 A Hokulani Street, Hilo, Hawaii 96720 (TMK No.(3) 2-5-60-22). Terms of sale are: (1) No upset price; (2) property sold strictly in \u201Das is\u201D condition; (3) property sold without covenant or warranty, express or implied, as to title, possession or encumbrances; (4) at close of auction, Purchaser must pay 100% of highest successful bidded price in cash, or by cashier\u2019s or certified check; provided Mortgagee may submit a credit bid up to the amount of the secured indebtedness; (5) property is to be conveyed by Mortgagee by mortgagee\u2019s quitclaim conveyance, provided by Mortgagee within 30 days after sale, and upon payment by Purchaser of all costs related to sale, including, but not limited to: costs of drafting conveyance document, notary fees, consent fees, escrow fees, conveyance tax, recordation fees and prorated charges; (6) availability of title or other insurance shall not be a condition of closing, and Purchaser shall be responsible for obtaining title insurance, if desired; (7) obligation for current and any delinquent real property taxes will not be prorated as of closing, and will be the sole obligation of the Purchaser; (8) Purchaser shall not take occupancy prior to closing, and responsibility of securing possession as of closing is with Purchaser; and (9) sale may be postponed from time to time by public announcement made by Mortgagee or someone acting on its behalf.
NOTICE IS HEREBY GIVEN THAT THIS ACTION IS AN ATTEMPT TO COLLECT A DEBT, THAT ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE, AND THAT THE DEBT MAY BE DISPUTED.
Inquiries should be directed to Walter Beh, II, attorney for Mortgagee, 737 Bishop Street, Suite 2400, Honolulu, Hawaii 96813.