The undersigned, ADVANTAGEOUS EQUITIES, L.L.C. (the “Seller”) has been engaged as special agent on behalf of PENDER EAST CREDIT 1 REIT, L.L.C. (the “Lender”), with respect to Lender’s rights and interests in various items of tangible personal property as described in paragraph “(f)” on pages 4 and 5 of a Deed of Trust, Security Agreement and Fixture Filing (the “Security Agreement”) from VERY FINE MOTELS, INC., a Nebraska corporation, dated December 27, 2018, and recorded on January 2, 2019, as Instrument No. 20190102000000720, Deed Book 3215, Page 443, among the land records of Hanover County, Virginia, with the security interest therein created having been perfected by the filing of a UCC Financing Statement on January 10, 2019, as Instrument No. 1901000780-6 in the office of the Nebraska Secretary of State.
At the instruction of the secured lender, default having occurred in the obligations secured by the Security Agreement, the undersigned Seller, acting as agent on behalf of the Lender, will proceed to sell such items of tangible personal property (i.e., furniture, furnishings, equipment, and inventory) as are then located on the motel property site, by public auction to the highest bidder to be held on THURSDAY, JULY 23, 2020, AT 1:00 P.M. EASTERN TIME, at the property address of the motel building located at 16102 THEME PARK WAY, DOSWELL, VIRGINIA 23047. Additionally, the motel building will be open for access beginning at 12 noon that day for inspection of the items being sold.
TERMS OF SALE: CASH. As a condition of participating in the auction, each prospective bidder, with the exception of the holder of the note secured by the above‑described Security Agreement, if it is a bidder, must have first registered with the undersigned Seller and must have first delivered a cashier’s or certified check in the amount of $10,000.00 payable to the undersigned Seller prior to or at the time of the scheduled auction sale. The undersigned Seller will retain the check from the successful bidder as the bidder’s deposit; the undersigned Seller will return any checks received from non‑successful bidders immediately following the sale. The balance of the purchase money, with interest thereon at 6% per annum from date of sale to date of settlement, shall be due at settlement, which shall be held in the offices of the undersigned Seller on or before July 30, 2020, time being of the essence.
Additional terms of sale will be announced at the time of sale, to include a tentative listing of the items being sold, and may be obtained in advance of the sale by contacting the undersigned Seller.
For information contact:
ADVANTAGEOUS EQUITIES, L.L.C.
c/o NEIL I. TITLE, Counsel
KARPOFF & TITLE
P. O. Box 990
1840 Wilson Boulevard, Suite 205
Arlington, Virginia 22216‑0990
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