NOTICE OF FORECLOSURE SALE
WITHOUT OPEN HOUSES
CIVIL NO. 20-00345 HG-RT – USDC
Romspen Investment Corporation v. JPL Hawaii, LLC, et al.
PROPERTY DESCRIPTION: Various parcels aggregating approximately 238.54 acres in the planned residential development located in the Waikoloa Beach Resort, commonly known as “Ainamalu at Waikoloa Beach Resort,” Waikoloa, South Kohala, Island and State of Hawaii. The specific parcels and their square footage or acreage are available upon request from the Commissioner. Certain development rights, entitlements and other intangibles which are appurtenant to the property will be transferred as part of the sale. Property will be sold and purchased “whole” and not as individual parcels.
AUCTION DATE: FRIDAY, MARCH 11, 2022 at 12:00 O’CLOCK NOON, Ewa side of the front plaza level, Circuit Court of the First Circuit, Kaahumanu Hale, 777 Punchbowl Street, Honolulu, Hawaii 96813
OPEN HOUSES: PROPERTY WILL BE SOLD WITHOUT OPEN HOUSES. However, private inspections of the Property are available by appointment. Please contact the Commissioner.
TERMS OF SALE: Property will be sold in “AS IS” condition, without any express or implied warranties or representations of any kind, at public auction with 10% of the highest bid payable in cash, certified or cashier’s check at the close of auction. THERE SHALL BE NO UPSET PRICE. Balance of highest bid shall be paid in full upon court approval and confirmation of sale. Potential bidders must be able to provide proof of ability to comply with the 10% bid requirement BEFORE participating in the public auction. Purchaser shall pay ALL costs of closing, including, but not limited to, escrow fees, recordation fees, conveyance taxes and is responsible for securing possession of the Property upon escrow closing and recordation. Neither the availability of title insurance nor securing possession of the Property shall be conditions of sale closing. Sale closing usually occurs not later than thirty-five (35) days after the entry of the order confirming sale. Real property taxes shall be prorated as of the date of closing and recordation of the documents transferring title. The Property, including all improvements will be sold without personal property. ALL SALE AND TERMS OF SALE ARE SUBJECT TO COURT CONFIRMATION.
DUE DILIGENCE INFORMATION: Limited due diligence information, material and documents are available upon request from the Commissioner. The information made available has been collected from various sources including tax records, a title report, and pleadings and appears to be reliable but it is not guaranteed. Potential bidders are expressly advised to perform and complete their own investigation and due diligence prior to bidding. Access to the due diligence information shall be subject to the execution of a Nondisclosure and Confidentiality Agreement. For further information, contact Wayne K. T. Mau, Commissioner, 1003 Bishop Street, Pauahi Tower, Suite 320, Honolulu, Hawaii 96813; Telephone (808) 781-8494 (cell); (808) 380-8498 (ofc.); email: wayne@wmaulaw.com
(SA1359543 2/6, 2/13, 2/20/22)
