PLEASE TAKE NOTICE THAT, for default in payment of a debt and performance of obligations owed by Chenango Flats LLC (“Debtor”) to CF-IF-2020-1, LLC (“Secured Party”), pursuant to Section 9-610 of the Uniform Commercial Code, at 10:00 a.m. (prevailing Eastern Time), on July 31, 2025, at the law offices of Polsinelli PC, 600 Third Avenue, 42nd Floor, New York NY 10016, and via Zoom video conference,
https://polsinelli.zoom.us/j/95070689731 pwd=KLcOmyCaWvX9XSTUgMOnbzQ8ipz1Yj.1 ,
Meeting ID Number: 950 7068 9731
Passcode: 176513
Secured Party shall sell at public auction to the highest qualified bidder for cash the interest of Amrom Lowy (“Pledgor”) in the following collateral, defined below or some portion thereof (the “Collateral”):
All of Pledgor’s right, title, and interest in and to the equity ownership interests in the Borrower, which is the owner of certain real property and personal property, including that certain real property, and improvements thereon, located at 27 and 31 Chenango St., Binghamton, New York 13901, as more fully described as follows (all capitalized terms not otherwise defined herein shall have the meanings assigned to them in that certain Ownership Interests Pledge and Security Agreement dated as of February 24, 2022, made by Pledgor in favor of Funding Door LLC, Ishaoa/Atima, as later assigned to Secured Party):
(a) the Pledged Interests together with all rights to Distributions or other payments arising therefrom or relating thereto, and all options, rights, instruments, and other property or proceeds from time to time received, receivable, or otherwise distributable in respect of or in exchange for any or all of the Pledged Interests;
(b) to the extent not covered by subparagraph (a), all rights to receive all income, gain, profit, loss or other items allocated, allocable, distributed, or distributable to Pledgor under the Organizational Documents of the Borrower, and all general intangibles, accounts, investment property, payment intangibles, supporting obligations, other contract rights or rights to the payment of money, and all proceeds, as each of the foregoing terms is defined in the UCC, arising out of, or in connection with, the membership interest in Borrower;
(c) all of Pledgor’s ownership interest in any capital accounts in the Borrower;
(d) all of Pledgor’s voting, consent, management, management removal and replacement, and approval rights, and/or rights to control or direct the affairs of the Borrower, inclusive of the management rights of the Pledgor in the Borrower, as set forth in the Operating Agreement of the Borrower and any amendments thereto;
(e) any additional ownership interests of, and any ownership interests exchangeable for or convertible into and warrants, options, and other rights to purchase or otherwise acquire shares of ownership interests of, the Borrower, or entity which is the successor of the Borrower, from time to time acquired by Pledgor in any manner (all of which interests shall be deemed to be part of the Pledged Interests), and any certificates or other instruments representing such additional interests, warrants, options, and other rights, and all Distributions and other property or proceeds from time to time received, receivable, or otherwise distributed or distributable in respect of or in exchange for any or all of such additional shares, warrants, options or other rights; and
(f) to the extent not covered by clauses (a) through (e) above, all proceeds of any or all of the foregoing.
All parties seeking to submit a bid at the sale must deliver a deposit at least 2 business days prior to the sale by delivering to Polsinelli PC, as escrow agent, a wire, bank, certified check, or money order (no endorsed checks or endorsed money orders will be accepted) in an amount equal to at least 10% of the successful bid amount. No cash will be accepted. All funds must be exhibited to the auctioneer prior to the commencement of bidding. Unless proper funds have been verified, you will not be permitted to bid. The balance of the successful bid is payable at closing, which shall be held within thirty (30) days of the auction date, time being of the essence. For wire instructions, you must contact the undersigned.
Secured Party reserves the right to reject all bids and terminate or adjourn the sale to another time or place or effectuate a private sale instead of a public sale, without further publication, and further reserves the right to bid for the Collateral at the sale and to credit bid by applying some or all of its secured debt to the purchase price.
For further information you may contact Amy E. Hatch, Polsinelli PC, 900 W. 48 th Place, Ste. 900, Kansas City, MO 64112; Tel.: (816) 753-1000; Fax: (816) 753-1536; [email protected] .
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