The Garden Island
Notice #: 0001022792-01

NOTICE OF FORECLOSURE SALE By order of the Circuit Court of the Third Circuit in Civil No. 14-1-079K, the below Commissioner has been appointed to sell the named property at public auction. PROPERTY DESCRIPTION: Four separate parcels consisting of various lots being auctioned as follows according to those interests set forth in Order Granting Defendant First Hawaiian Bank’s Motion to Enforce Settlement Agreement, or in the Alternative for Summary Judgment filed October 25, 2016 in Civil No. 14-1-079K in the Circuit Court of the Third Circuit. Lot "1": (3) 7-7-001-002, (3) 7-7-001-019, (3) 7-7-001-020; Lot "8": (3) 7-6-006-001, (3) 7-6-006-027, Lot "2": (3) 7-6-006-039, (3) 7-6-006-017, portion of (3) 7-6-006-055; Lot "5": (3) 7-6-006-015, portion of (3) 7-6-006-055. OPEN HOUSES: September 3, 2017 & September 9, 2017. AUCTION: September 25, 2017 at 12:00 p.m. Auction will be held at the flagpole at Hale Halawai located at 75-5760 Alii Drive, Kailua-Kona, HI. TERMS: The lots will be sold in the following order: 1) Lot "2", 2) Lot "5", 3) Lot "1", 4) Lot "8". No upset price. Property is to be sold in its "as in" condition, without any representations or warranties whatsoever as to title or possession and by way of a quitclaim conveyance by public commissioner’s sale. The successful bidder at Sale shall make a down payment to Commissioner of no less than ten percent (10%) of the highest successful bid price. Pursuant to Order Granting Oral Motion for Appointment of Commissioner filed February 15, 2017, certain Creditor Parties as defined in the Creditor Agreement may satisfy the down payment by way of offset up to the amount of its secured debt ("credit bid"). Prior to bidding, any person not previously authorized to credit bid must show the Commissioner such persons present ability to make the required down payment immediately upon the close of bidding at Sale. At the Court’s discretion, the 10% down payment bay be forfeited in whole or in part if the purchase shall fail to pay the balance of the purchase price as required and set forth below. The Court may, for good cause, allow further bidding. In the event that such bidding is allowed, the first post auction bid must be at least one hundred five percent (105%) of the highest bid at Sale. The Court shall determine the amount of fees of the Commissioner. All costs and expenses of the closing of the sale, including without limitation, the costs of conveyance, including preparation of the conveyance document, conveyance tax, escrow and recording fees, any proof of title or title insurance, and notary fees, as well as the costs of securing possession of the property, shall be the responsibility of and paid by the purchaser. Neither the availability of title insurance nor securing possession of the property shall be a condition of closing. Sale subject to Court confirmation. DISCLOSURE: Content of this Notice has been obtained from sources believe by Commissioner to be reliable but may not necessarily be accurate or complete. It is the sole responsibility of all bidders to verify the information contained herein. COMMISSIONER: Michael H. Schlueter, Schlueter & Kwiat, LLLP, P.O. Box 288, Kealakekua, Hawaii 96750. Tel. No. (808) 987-7275, Email: (SA1022792 8/27, 9/3, 9/10/17)