CONTINUANCE NOTICE OF MORTGAGEE\u2019S
INTENTION TO FORECLOSE UNDER POWER OF SALE
U.S. BANK NATIONAL ASSOCIATION v. RICHARD L. PAGAN, JR.
and MIKE FAAPAU PEKO
U.S. Bank National Association, (\u201DMortgagee\u201D) whose address is c/o Chase Home Finance LLC, 10790 Rancho Bernardo Road, San Diego, California 92127, as mortgagee pursuant to Hawaii Revised Statutes §§ 667-5 through 667-10 as amended, and that mortgage dated November 21, 2005, filed in the Office of the Assistant Registrar, Land Court, State of Hawaii as Document No. 3361871, on Transfer Certificate of Title No. 822,842, gives notice that Mortgagee has rescheduled the auction date for the real property located at 87-1058 Oheohe Street, Waianae, Hawaii 96792, as more fully described in the Mortgage referenced above, TMK: (1) 8-7-045-025, to August 24, 2007, at 12:00 noon at Kaahumanu Hale, the Court Building for the Circuit Court of the First Circuit, 777 Punchbowl Street, Honolulu, Hawaii 96813.
Terms of the sale are: (1) No upset price; (2) Property sold strictly in \u201DAS IS\u201D and \u201DWHERE IS\u201D condition; (3) Property sold without covenant or warranty, express or implied, as to title, possession or encumbrances; (4) At the close of the auction, Purchaser shall pay 10% of the highest successful bid price (Bid) by cashier\u2019s check; provided that Mortgagee may submit a credit bid up to the amount of the secured indebtedness; (5) The property shall be conveyed by Mortgagee\u2019s quitclaim conveyance, and upon performance by Purchaser, no later than 21 days after the auction of the following obligations: (a) Purchaser shall deliver a cashiers check to escrow for the balance of the Bid; (b) Purchaser shall pay all closing costs including, but not limited to: costs of document drafting, notary fees, consent fees, escrow fees, conveyance tax, recordation fees and other charges, together with any assessments which may arise under HRS § 514A-90 et seq.; and (c) Any real property taxes and lease rents shall be paid by Purchaser and not be prorated; (6) Purchaser shall provide the auctioneer with the selected names (vesting) and tenancy for title to the property at the conclusion of the auction; (7) Purchaser shall be responsible for obtaining title insurance, if so desired, however, the availability of title or other insurance shall not be a condition of closing; (8) Purchaser may not take occupancy prior to closing; (9) Purchaser shall be solely responsible for securing possession of the property; (10) Time is of the essence in this transaction and any delay in performance by Purchaser which prevents the closing from occurring within 30 days after the auction shall cause Mortgagee to sustain damages in amounts which will be difficult to ascertain. In the event the sale does not close because of any delay in performance by the Purchaser as herein stated, the 10% down payment may be retained by Mortgagee as liquidated damages and not as a penalty; (11) Mortgagee may file at the Bureau of Conveyances, the Affidavit of Sale on or before the thirtieth day after the auction; (12) The sale may be postponed from time to time by public announcement by Mortgagee or someone acting on its behalf; (13) By submitting the Bid, Purchaser acknowledges reading the terms and conditions set forth in this notice and agrees to be bound thereby and sign a written acceptance of all terms herein.
NOTICE IS HEREBY GIVEN THAT THIS IS AN ATTEMPT TO COLLECT A DEBT, THAT ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE, AND THAT THE DEBT MAY BE DISPUTED.
Direct inquiries to Clay Chapman Crumpton Iwamura & Pulice, Attorneys for Mortgagee, at 700 Bishop Street, Suite 2100, Honolulu, Hawaii 96813, (telephone: 808/535-8400). (SB05530541 7/12/07)
