NOTICE OF INTENT TO FORECLOSE INTERVAL OWNERSHIP INTEREST AND OF SALE BY PUBLIC AUCTION
NOTICE IS HEREBY GIVEN pursuant to Hawaii Revised Statutes § 514E-29 and Part IV of Chapter 687 H.R.S, as amended, and the Declaration of Covenants, Conditions and Restrictions that the following timeshare interests shown below in Exhibit "A" will be foreclosed upon by the foreclosing agent, First American Title Insurance Company on behalf of KO’OLINA BEACH CLUB VACATION OWNER’S ASSOCIATION by sale of property secured thereby at public auction on 4/11/2018 at 12:00 p.m. at 415 South Beretania Street, Honolulu, HI 96813 (State Capitol, on the steps leading down towards the Queen Liliuokalani). Each of the properties to be sold is a Timeshare Interest at KO’OLINA BEACH CLUB established by certain Declaration of Covenants, Conditions and Restrictions recorded on September 24, 2001 as Document No. 2739367 in the office of Conveyances, State of Hawaii and as amended and which property is located at 92-161 Waipahe Place, Kapolei, HI 96707. The Timeshare Interest as noted on the Notice of Lien for delinquent assessments, which has been filed against the record owner, consists of delinquent maintenance fees, (plus interest, late charges, and collection and enforcement costs). Each of the properties are to be sold as an undivided timeshare interest. There will be no open houses. 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. THE DEFAULTED AMOUNT DUE MAY BE CURED AND THE FORECLOSURE ACTION CEASED IF THE DEFAULTING PARTY PAYS ALL DELINQUENT AMOUNTS DUE PLUS ALL PENALTIES, INTEREST, AND COSTS OF THE FORECLOSURE ACTION UP TO THE DATE OF PAYMENT. SAID AMOUNTS DUE MUST BE PAID NO LATER THAN THREE (3) BUSINESS DAYS PRIOR TO THE DATE OF SALE. THERE IS NO RIGHT TO CURE THE DEFAULT OR ANY RIGHT OF REDEMPTION AFTER THAT TIME. For further information regarding this sale, you must contact KO’OLINA BEACH CLUB VACATION OWNER’S ASSOCIATION c/o First American Title at 702-304-7509, 8am to 7:30 pm, (Eastern Time). 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. Dated: March 5, 2018. EXHIBIT ‘A’: Contract Number, Current Owner(s), Ownership Interest No. (ICN), Lien Document No., Lien Recordation Date; KO*4611*27*B, TADASHI OBA and YOKO OBA and HIROKO OBA and FUJIYO OBA, KO*4611/27, A-64930072, 10/11/2017; KO*5102*10*E, BRYON BROCKWAY and DANIELLE BROCKWAY, 5102C10*E, A-53220083, 07/28/2014; KO*3015*47*B, MICHAEL ALAN SPENCER and LAURA KATHLEEN SPENCER, 3015B47, A-64240592, 08/03/2017.
(SA1078967 3/12, 3/19, 3/26/18)