NOTICE OF MORTGAGEE’S INTENTION TO FORECLOSE
UNDER POWER OF SALE

TS No.: 109662-06 Title No.: Xxxxx8848
Loan No.: W720007 Mortgagor/Borrower: McGough, James

Mortgage Electronic Registration Sytems, Inc. whose address is 800 State Highway 121 Bypass, Lewisville, TX 75067-4180, as mortgagee pursuant to Hawaii Revised Statutes 667-5 through 667-10 as amended, and that mortgage dated April 22, 2005 and recorded on April 29, 2005 in the Bureau of Conveyances in the County of Honolulu, State of Hawaii, Regular Document System, as Document No. 3260158, on Transfer Certificate Title No. 668,397, gives notice that Mortgagee will hold a sale by public auction on August 3, 2007 at 12:00 Noon, At the EWA End Area fronting the First Circuit Court Building, 777 Punchbowl Street, Honolulu, Hawaii, of real property located at 95-1072 Loea Street, Mililani, HI 96789, Fee Simple, as Assessors Parcel Number of 9-5-083-016, as described in completely described in said Mortgage. Terms of the sale are: (1) No upset price; (2) Property is sold strictly in “AS IS” and “WHERE IS” condition; (3) Property is sold without covenant or warranty, either express or implied, as to title, possession or encumbrances; (4) At the close of the auction, Purchaser shall pay 10% of the highest successfully bid price (“Bid”) in cash, or by cashier’s or certified check; provided, however, that Mortgagee may submit a credit bid up to the amount of the secured indebtedness; (5) The property shall be conveyed by Mortgage by mortgagee’s quitclaim conveyance, provided by Mortgagee, within 30 days after auction and upon performance by Purchaser, no later than 21 days after the auction, of the following obligations: (a) Purchaser shall deliver a cashier’s check to escrow for the balance of the Bid; (b) Purchase 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) The availability of title or other insurance shall not be a condition of the sale, and the Purchaser shall be responsible for obtaining a certificate of title and title insurance, if so desired; (7) The obligation for taxes, lease/ground rent, common expenses and similar charges shall be the responsibility of the purchaser; (8) the Purchaser shall not take occupancy prior to confirmation of the sale, and responsibility of securing possession of the property as of confirmation of the sale shall be with the Purchaser; (9) 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 different 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 liquidation damages and not as a penalty; (10) 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; and (11) This sale may be postponed from time to time by public announcement made by Mortgagee or someone acting on Mortgagee’s behalf.

NOTICE IS HEREBY GIVEN THAT THIS FIRM IS ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE, AND THAT THE DEBT MAY BE DISPUTED. HOWEVER, IF YOU HAVE OR ARE IN THE PROCESS OF OBTAINING DISCHARGE OF THE DEBT FROM A BANKRUPTCY COURT, THIS DOCUMENT IS NOT AN ATTEMPT TO COLLECT A DEBT, BUT ONLY ENFORCEMENT OF LIEN RIGHTS AGAINST THE PROPERTY.

Inquires should be directed to Secretha Curry, at (214) 626-3235 Mortgage Electronic Registration Systems, 800 State Highway, 121 Bypass, Lewisville, TX 75067-4180. By: Yvonne J. Wheeler, A.V.P. 07/03/07, 07/10/07, 07/17/07 R-145534
(SB05530555 7/3, 7/10, 7/17/07)