NOTICE OF MORTGAGEES NON-JUDICIAL FORECLOSURE
UNDER POWER OF SALE
Pursuant to Hawaii Revised Statutes Sections 667-5 through 667-10, as amended, and first mortgage dated August 9, 2005, recorded in the Bureau of Conveyances, State of Hawaii as Document No. 2005-164150, notice is given that U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE, ON BEHALF OF THE HOLDERS OF THE ASSET BACKED SECURITIES CORPORATION HOME EQUITY LOAN TRUST, SERIES NC 2005-HE8, ASSET BACKED PASS-THROUGH CERTIFICATES, SERIES NC 2005-HE8, as Mortgagee, whose address is c/o P.O. Box 65250, Salt Lake City, UT 84165, intends to foreclose its said mortgage and will hold a sale by public auction of Fee Simple property located at 216 S. Papa Avenue, Kahului, HI 96732, TMK: (2) 3-8-038-013, on August 15, 2007, at 12:00 noon, at the front entrance of the First Circuit Court located at 777 Punchbowl Street, Honolulu, Hawaii 96813. Terms of the sale are: (1) No upset price; (2) property sold strictly in AS IS condition; (3) property sold without covenant or warranty, express or implied, as to title, possession or encumbrances; (4) Purchaser must pay 10% of the highest successful bid in cash, certified or cashiers check at close of auction and prior to bidding must show proof of ability to make such payment, except for Mortgagee which may submit a credit bid up to the amount of its secured indebtedness; (5) property is to be conveyed by Mortgagees quitclaim conveyance, which Mortgagee shall provide within 35 days after the Affidavit of Sale is recorded, 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 taxes, and recording fees, together with any special assessments which may arise under Hawaii Revised Statutes 514A-90 et.seq.; (6) Purchaser shall be responsible for obtaining title insurance, if desired, however availability of title or other insurance shall not be a condition of closing; (7) obligation for taxes and similar charges shall be
prorated as of closing; (8) Purchaser may not take occupancy prior to closing; further, Purchaser is responsible for securing possession as of closing; 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 KARYN A. DOI, ESQ., LEU & OKUDA, Attys-at-Law, as attorney for Mortgagee, at The Merchant House, 222 Merchant Street, Main Floor, Honolulu, Hawaii 96813.
(SB05530754 7/11, 7/18, 7/25/07)
