Notice #: 0001198994-01
Foreclosures

Batch No: Foreclosure HOA 89681-KO98-HOA. NOTICE OF INTENT TO FORECLOSE INTERVAL OWNERSHIP INTERESTS AND OF SALE BY PUBLIC AUCTION NOTICE IS HEREBY GIVEN pursuant to the terms of the Timeshare Declaration that the following timeshare interests more particularly described in the lien(s) referred to in Schedule “1” will be foreclosed upon by the foreclosing agent, First American Title Company on behalf of Ko’Olina Beach Club Vacation Owners Association, a Hawaii nonprofit corporation by sale of property secured thereby at public auction on 06/19/2019 at 12:00 PM at 415 South Beretania Street, Honolulu, HI 96813 (State Capitol, on the steps leading down towards the Queen Liliuokalani statue). Each of the properties to be sold is a Timeshare Interest at Ko Olina Beach Club established by certain Declaration recorded as Doc. No. 2739367 in the office of Bureau of Conveyances or Assistant Registrar of the Land Court, State of Hawaii and as amended and which property is located at 92-161 Waipahe Place, Kapolei, Honolulu, HI, 96707. The Timeshare Interest as noted on the Notice of Lien, which has been filed against the record owner as consists of delinquent maintenance fees, (plus interest, late charges, and collection and enforcement costs). Terms of the sale are: (1) No upset price. (2) Property sold without covenant or warranty, express or implied, as to the title possession or encumbrances; (3) At the close of the auction, Purchaser shall pay 10% of the highest successful bid price (“Bid”) by certified, or cashier’s check to FIRST AMERICAN TITLE COMPANY as a non-refundable deposit; provided that the Association may submit a credit bid up to the amount of the secured indebtedness; (4) The property shall be conveyed by the Association’s quitclaim conveyance. Purchaser shall meet the following obligations: (a) Purchaser shall deliver a cashier’s check no later than 15 days after the auction, 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 special assessments which may arise under HRS 514B-146(g)(h)(i); (5) Purchaser shall provide the auctioneer with the selected names (vesting) and tenancy for title to the property at the conclusion of the auction; (6) 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; (7) 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 the Association 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 the Association as liquidated damages and not as a penalty; (8) If title is not conveyed to Purchaser for any reason, other than Purchaser’s failure to perform as specified herein, the Association’s sole responsibility shall be the return of the Bid funds tendered by Purchaser. The Purchaser shall have no further recourse against the Association or its agents, attorneys, servicers and auctioneers; (9) The sale may be postponed from time to time by public announcement by the Association or someone acting on its behalf; (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. For further information regarding this sale, you must contact First American Title Insurance Company, a Nebraska corporation at (702) 304-7509. Conductor of the public sale in the state of Hawaii: AQUA LEGAL LLC on behalf of, First American Title, agent for Claimant; Phone: (808) 539-7504; Address: 1099 Alakea Street, suite 2430, Honolulu, Hawaii 96813. SCHEDULE “1”: Lien Recording Date and Reference, Timeshare Interest (Contract No.), Owner(s); 06/16/2016, Inst: A-60110689, KO*0620*39*B, GERARDO ALBERTO LICON and MARIA MARGARITA LICON; 02/07/2019, Inst: A69770001, KO*1113*22*B, PATRICIA GEYER OLSON; 09/27/2016, Inst: A-61140828, KO*3610*42*E, RICKY T SUMMERLIN; 05/15/2018, Inst: A-67091091, KO*5434*15*E, YOSHIZUMI ASAKAWA and SUMI ASAKAWA, Owners of Vacation Ownership Interest No(s) KO*5434*15*E which was erroneously acquired as Vacation Ownership Interest No(s) KO*5434/45*E on that certain deed recorded on April 10, 2013 as Document No. A-48480249.
(SA1198994 5/17, 5/24, 5/31/19)