NOTICE OF ASSOCIATION’S NON-JUDICIAL FORECLOSURE UNDER POWER OF SALE
Foreclosing Party: Association of Apartment Owners of Harbor Square ("Association"), as Lienholder, under and pursuant to Sections 514B-146 and 667-91 through 667-104, HRS, as amended.
Property information: 225 Queen Street, Unit No. 20H, Honolulu, Hawaii 96813 (TMK No. (1) 2-1-016-015 CPR No. 0104).
Owner information: Michael Lawrence Avery
Other Creditors: Dept of Taxation, Mortgage Electronic Registration Systems, Inc., New Century Mortgage Corporation, Director of Finance, Nationwide Lending Corporation and Bank of america, N.A., as Trustee Luminent 2005-1
Public auction: 05/16/18, at 12:00 Noon on 415 South Beretania Street, Honolulu, Hawaii 96813 (at the rotunda area on the steps leading down to the Queen Liliuokalani Statue)
Open Houses: NONE
Delinquency: $18,999.25. Opening Bid: $1
Terms of the sale are: (1) no upset price; (2) property sold strictly "AS IS" and "WHERE IS"; (3) property sold without warranty of title or any other warranty, property has encumbrances; (4) Purchaser must pay 10% of the highest successful bid price in cash, certified or cashier’s check at close of auction and prior to bidding must show proof of ability to make such payment; (5) property is to be conveyed by Association’s quitclaim conveyance and upon performance by Purchaser, no later than 21 days after payment of all costs related to the sale, (6) Purchaser is responsible for all title insurance, however, availability of title or other insurance shall not be a condition of closing; (7) Purchaser is responsible for obtaining possession after closing; (8) any delay in performance by Purchaser which prevents the closing from occurring within 45 days after the auction shall cause 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 Purchaser as herein stated, the 10% down payment may be retained by Association as liquidated damages and not as a penalty; (9) Association’s sole liability shall be the return of the bid funds tendered by Purchaser. Purchaser shall have no further recourse against Association, or its officers, members, directors, agents, attorneys, servicers and auctioneers; and (10) the sale may be postponed from time to time pursuant to HRS Section 667-97.
"THE DEFAULT MAY BE CURED NO LATER THAN THREE BUSINESS DAYS BEFORE THE DATE OF THE PUBLIC SALE OF THE PROPERTY BY PAYING THE ENTIRE AMOUNT WHICH WOULD BE OWED TO THE ASSOCIATION UP TO THE DATE OF PAYMENT, PLUS THE ATTORNEY’S FEES AND COSTS, AND ALL OTHER FEES AND COSTS INCURRED BY THE ASSOCIATION RELATED TO THE DEFAULT, UNLESS OTHERWISE AGREED TO BETWEEN THE ASSOCIATION AND THE OWNER[S]. THERE IS A ONE YEAR RIGHT OF REDEMPTION SUBJECT TO ANY APPLICABLE TOLLING PROVIDED FOR IN 50 U.S.C. 526(b)." IF THE DEFAULT IS SO CURED, THE PUBLIC SALE SHALL BE CANCELED."
Public sale will be conducted by Porter McGuire Kiakona & Chow, LLP, attorneys for the Association, 841 Bishop Street, Suite 1500, Honolulu, Hawaii 96813; Tel: (808) 539-1100