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FIRST INSERTION
NOTICE OF SALE
IN THE CIRCUIT COURT
OF THE TWENTIETH JUDICIAL
CIRCUIT IN AND FOR LEE COUNTY, FLORIDA
Case No. 11-CA-053218
U.S. BANK NATIONAL ASSOCIATION, as Trustee, as successor in interest to Bank of America, as successor by merger to LaSalle Bank, National Association, as Trustee for the Holders of Morgan Stanley Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 2007-IQ16, acting by and through its special servicer, C-III Asset Management LLC,
Plaintiff, vs.
SUMMERLIN SQUARE, LLC, a Georgia limited liability company; STAFFORD DEVELOPMENT COMPANY, a Georgia corporation; and all parties claiming interest by, through, under or against any defendant named herein,
Defendants.
NOTICE IS HEREBY GIVEN pursuant to an Agreed Judgment of Foreclosure dated October 27, 2011, entered in Civil Case No. 11-CA-053218 of the Circuit Court of the Twentieth Judicial Circuit in and for Lee County, Florida wherein U.S. BANK NATIONAL ASSOCIATION, as Trustee, as successor in interest to Bank of America, as successor by merger to LaSalle Bank, National Association, as Trustee for the Holders of Morgan Stanley Capital I Inc., Commercial Mortgage Pass-Through Certificates, Series 2007-IQ16, acting by and through its special servicer, C-III Asset Management LLC, is the Plaintiff and SUMMERLIN SQUARE, LLC, a Georgia limited liability company; STAFFORD DEVELOPMENT COMPANY, a Georgia corporation; and all parties claiming interest by, through, under or against any defendant named herein, are the Defendants.
The Lee County Clerk of Court will sell to the best and highest bidder for cash, by electronic sale at www.lee.realforeclose.com beginning at 9:00 AM on November 30, 2011, the following described property, as set forth in said Agreed Judgment of Foreclosure, to wit:
SEE ATTACHED
EXHIBIT “A” and
EXHIBIT “B”
EXHIBIT A
(Property)
Parcel 1:
A parcel of land in Section 7, Township 46 South, Range 24 East, Lee County, Florida, more particularly described as follows:
Commence at the Northeast corner of Section 7, Township 46 South, Range 24 East; thence South 01°13'02” East along the East line of the Northeast quarter of said Section 7 for 513.35 feet to an intersection with a line parallel with and 20.00 feet South of as measured at right angles to the North line of that certain parcel of land described as Parcel 1 in Official Records Book 2074 at Page 4358 of the Public Records of Lee County Florida; thence South 89°02'34” West along said parallel line for 1012.43 feet to the POINT OF BEGINNING of the herein described parcel of land; thence continue South 89°02'34” West along said parallel line for 330.00 feet to an intersection with the West line of the East half of the Northeast quarter of said Section 7; thence South 01°13'51” East along said West line for 543.06 feet; thence North 89°02'34” East for 330.00 feet; thence North 01°13'51” West for 543.06 feet to the POINT OF BEGINNING.
Parcel 2:
Easement for Ingress and Egress on, over and across Parcel B described in Amended and Restated Declaration of Easement dated April 28, 2000 recorded in Official Records Book 3251, Page 4778, of the Public Records of Lee County, Florida.
Parcel 3:
Non-exclusive easement to be used solely and exclusively for storm water drainage purposes as set forth in that certain Declaration of Easement (Drainage Easement) made by R. William Futch, Trustee under Trust Agreement dated March 14, 1985, known as Trust 03-14, said declaration dated July 24, 1985, recorded March 21, 1985, in Official Records Book 1796, Page 3434, as re-recorded August 1, 1985, in Official Records Book 1835, Page 3244.
EXHIBIT B
(Personal Property)
All of Summerlin Square, LLC's right, title and interest, whether now owned or hereafter acquired, in or to all of the following (collectively, the “Property”):
(a) Land. The real property described in Exhibit A attached hereto and made a part hereof (the “Land”);
(b) Additional Land. All additional lands, estates and development rights hereafter acquired by Summerlin Square, LLC for use in connection with the Land and the development of the Land and all additional lands and estates therein which may, from time to time, by supplemental mortgage or otherwise be expressly made subject to the lien of the Mortgage;
(c) Improvements. The buildings, structures, fixtures, additions, enlargements, extensions, modifications, repairs, replacements and improvements now or hereafter erected or located on the Land (the “Improvements”);
(d) Easements. All easements, rights-of-way or use, rights, strips and gores of land, streets, ways, alleys, passages, sewer rights, water, water courses, water rights and powers, air rights and development rights, and all estates, rights, titles, interests, privileges, liberties, servitudes, tenements, hereditaments and appurtenances of any nature whatsoever, in any way now or hereafter belonging, relating or pertaining to the Land and the Improvements and the reversion and reversions, remainder and remainders, and all land lying in the bed of any street, road or avenue, opened or proposed, in front of or adjoining the Land, to the center line thereof and all the estates, rights, titles, interests, dower and rights of dower, curtesy and rights of curtesy, property, possession, claim and demand whatsoever, both at law and in equity, of Summerlin Square, LLC of, in and to the Land and the Improvements and every part and parcel thereof, with the appurtenances thereto;
(e) Fixtures and Personal Property. All machinery, equipment, fixtures (including, but not limited to, all heating, air conditioning, plumbing, lighting, communications, elevator fixtures, beds, bureaus, chiffoniers, chests, chairs, desks, lamps, mirrors, bookcases, tables, rugs, carpeting, drapes, draperies, curtains, shades, venetian blinds, screens, paintings, hangings, pictures, divans, couches, luggage carts, luggage racks, stools, sofas, chinaware, linens, pillows, blankets, glassware, foodcarts, cookware, dry cleaning facilities, dining room wagons, keys or other entry systems, bars, bar fixtures, liquor and other drink dispensers, icemakers, radios, television sets, intercom and paging equipment, potted plants, stoves, ranges, refrigerators, laundry machines, dishwashers, garbage disposals, washers and dryers and other customary hotel equipment) and other property of every kind and nature whatsoever owned by Summerlin Square, LLC, or in which Summerlin Square, LLC has or shall have an interest, now or hereafter located upon the Land and the Improvements, or appurtenant thereto, and usable in connection with the present or future operation and occupancy of the Land and the Improvements and all building equipment, materials and supplies of any nature whatsoever owned by Summerlin Square, LLC, or in which Summerlin Square, LLC has or shall have an interest, now or hereafter located upon the Land and the Improvements, or appurtenant thereto, or usable in connection with the present or future operation and occupancy of the Land and the Improvements (collectively, the “Personal Property”), and the right, title and interest of Summerlin Square, LLC in and to any of the Personal Property which may be subject to any security interests, as defined in the Uniform Commercial Code, as adopted and enacted by the state or states where any of the Property is located (the “Uniform Commercial Code”), and all proceeds and products of the above;
(f) Leases and Rents. All leases, subleases and other agreements affecting the use, enjoyment or occupancy of the Land and/or the Improvements heretofore or hereafter entered into and all extensions, amendments and modifications thereto (collectively, the “Leases”), whether before or after the filing by or against Summerlin Square, LLC of any petition for relief under 11 U.S.C. §101 et seq., as the same maybe amended from time to time (the “Bankruptcy Code”) and all right, title and interest of Summerlin Square, LLC, its successors and assigns therein and thereunder, including, without limitation, any guaranties of the lessees' obligations thereunder, cash or securities deposited thereunder to secure the performance by the lessees of their obligations thereunder and all rents, additional rents, early termination fees and payments and other termination fees and payments (any such early termination fees, payments and other termination fees and payments, the “Lease Termination Fees”), revenues, issues and profits (including all oil and gas or other mineral royalties and bonuses) from the Land and the Improvements, including, without limitation, all revenues and credit card receipts collected from guest rooms, restaurants, bars, meeting rooms, banquet rooms and recreational facilities, all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of property or rendering of services by Summerlin Square, LLC or any operator or manager of the hotel or the commercial space located in the Improvements or acquired from others (including, without limitation, from the rental of any office space, retail space, guest rooms or other space, halls, stores, and offices, and deposits securing reservations of such space), license, lease, sublease and concession fees and rentals, health club membership fees, food and beverage wholesale and retail sales, service charges and vending machine sales, whether paid or accruing before or after the filing by or against Summerlin Square, LLC of any petition for relief under the Bankruptcy Code (collectively, the “Rents”) and all proceeds from the sale or other disposition of the Leases and the right to receive and apply the Rents to the payment of the Debt;
(g) Insurance Proceeds. All proceeds of and any unearned premiums on any insurance policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property;
(h) Condemnation Awards. All awards or payments, including interest thereon, which may heretofore and hereafter be made with respect to the Property, whether from the exercise of the right of eminent domain (including but not limited to any transfer made in lieu of or in anticipation of the exercise of the right), or for a change of grade, or for any other injury to or decrease in the value of the Property;
(i) Tax Certiorari. All refunds, rebates or credits in connection with a reduction in real estate taxes and assessments charged against the Property as a result of tax certiorari or any applications or proceedings for reduction;
(j) Conversion. All proceeds of the conversion, voluntary or involuntary, of any of the foregoing including, without limitation, proceeds of insurance and condemnation awards, into cash or liquidation claims;
(k) Rights. The right, in the name and on behalf of Summerlin Square, LLC, to appear in and defend any action or proceeding brought with respect to the Property and to commence any action or proceeding to protect the interest of Noteholder in the Property;
(l) Agreements. All agreements, contracts, certificates, instruments, franchises, permits, licenses, plans, specifications and other documents, now or hereafter entered into, and all rights therein and thereto, respecting or pertaining to the use, occupation, construction, management or operation of the Land and any part thereof and any Improvements or respecting any business or activity conducted on the Land and any part thereof and all right, title and interest of Summerlin Square, LLC therein and thereunder, including, without limitation, the right, upon the occurrence and during the continuance of an Event of Default (defined below), to receive and collect any sums payable to Summerlin Square, LLC thereunder and including further, without limitation (but subject to any limitations thereunder), all right, title and interest of Summerlin Square, LLC in and to that certain Franchise License Agreement dated on or about the date hereof made by and between Summerlin Square, LLC and Promus Hotels, Inc., a Delaware corporation (the “Franchisor” (together with any amendments, replacements or substitutions therefor, the “Franchise Agreement”);
(m) Intangibles. All trade names, trademarks, servicemarks, logos, copyrights, goodwill, books and records and all other general intangibles relating to or used in connection with the operation of the Property; and
(n) Other Rights. Any and all other rights of Summerlin Square, LLC in and to the items set forth in Subsections (a) through (m) above.
Capitalized terms used above in this Exhibit B without definition have the meanings given them in the Loan Documents as defined in the Complaint.
IF YOU ARE A SUBORDINATE LIENHOLDER CLAIMING A RIGHT TO FUNDS REMAINING AFTER THE SALE, YOU MUST FILE A CLAIM WITH THE CLERK NO LATER THAN 60 DAYS AFTER THE SALE. IF YOU FAIL TO FILE A CLAIM, YOU WILL NOT BE ENTITLED TO ANY REMAINING FUNDS.
If you are a person with a disability who needs any accommodation in order to participate in this proceeding, you are entitled, at no cost to you, to the provision of certain assistance. Please contact the Court Operations Manager whose office is located at Lee County Justice Center, 1700 Monroe Street, Fort Myers, Florida 33901, and whose telephone number is (239) 533-1700, at least 7 days before your scheduled court appearance, or immediately upon receiving this notification if the time before the scheduled appearance is less than 7 days; if you are hearing or voice impaired, call 711.
DATED this 7 day of November, 2011.
CHARLIE GREEN
Clerk of THE CIRCUIT Court
(SEAL) By: S. Hughes
As Deputy Clerk
Matthew T. Blackshear, Esq.
Florida Bar No. 632694
Traci H. Rollins, Esq.
Florida Bar No. 769071
Rene M. Larkin, Esq.
Florida Bar No. 85107
Squire, Sanders &
Dempsey (US) LLP
201 North Franklin Street, Suite 2100
Tampa, Florida 33602
Telephone: (813) 202-1300
Facsimile: (813) 202-1313
Attorneys for Plaintiff
November 11, 18, 2011 11-06680L