PUBLIC NOTICE OF DISPOSITION OF COLLATERAL: E-Lux Bikes LLC

NOTIFICATION OF PUBLIC DISPOSITION OF COLLATERAL

NAME OF DEBTOR: E-Lux Bikes LLC

PLEASE TAKE NOTICE THAT, pursuant to a public disposition, Cadles of West Virginia LLC, and Ohio Limited Liability Company, as foreclosing seller (“Secured Party”) will enforce their security interest in, and will sell to the highest qualified bidder in public, any or all of the collateral (the “Collateral”) pledged by E-Lux Bikes LLC, A California Limited Liability Company (“E-Lux”) to the respective Secured Party and described on Exhibit A hereto, to the extent existing and available. (Cadles of West Virginia LLC is the successor in interest to, and assignee of, Comerica Bank, NA.

PLEASE TAKE FURTHER NOTICE of the following with respect to the time, date and place of the public dispositions of the Collateral:

Day and Date of Public Disposition Thursday, January 9, 2025
Time: 10:30 A.M. (PST)
Place: Live Online via Zoom:
Conducted by: Brian Testo Associates LLC
4035 E. Thousand Oaks Blvd. #105
Westlake Village, CA 91362
(818) 592-6592

For details including, inventory list, photographed and terms
conditions please contact Brian Testo at [email protected] or mobile
(818) 312-1699 – Assets located in Fountain Valley, CA.

PLEASE TAKE FURTHER NOTICE that Cadles of West Virginia LLC as foreclosing seller on behalf of itself reserves the right to cancel, postpone or continue the sale of any of the noticed Collateral, at any time for any reason or no reason.

1 PLEASE TAKE FURTHER NOTICE that any information with respect to the Collateral to be sold by public disposition, which information Cadles of West Virginia LLC as foreclosing seller received from E-Lux, is provided by the Secured Party without investigation and without recourse, representation, liability, duty, verification or warranty by or on behalf of Secured Party.

2 PLEASE TAKE FURTHER NOTICE of the following with respect to the terms and conditions of the public disposition of the Collateral:

(1) THE SALE OF THE COLLATERAL IS ON AN “AS IS” AND “WHERE IS” BASIS. Without limitation to the foregoing, certain manufacturing equipment, inventory or other Collateral may be located with contract manufacturers, warehouses and other third parties and neither the foreclosing seller nor any Secured Party undertakes to locate or deliver such Collateral to any successful bidder.

(2) There is no recourse, duty, representation or warranty by the foreclosing seller or any Secured Party, including, without limitation, relating to title, possession, quiet enjoyment or the like in any disposition or with respect to the quantity, quality, condition, value, nature, character or other factors affecting the Collateral or with respect to any other fact or matter, all of which are disclaimed by the foreclosing seller and Secured Party and waived by the bidders. IN PARTICULAR, BUT WITHOUT LIMITATION, FORECLOSING SELLER AND SECURED PARTIES DISCLAIM AND EACH BIDDER WAIVES ANY EXPRESS OR IMPLIED WARRANTIES, INCLUDING ANY WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE OR NONINFRINGEMENT, OR AS REGARDS THE APPLICABILITY OR EFFECT OF THE LAWS OF ANY FOREIGN JURISDICTIONS.

(3) Only “qualified bidders” who have complied with the procedures to be established by the auctioneer appointed to conduct the auction on behalf of the Secured Parties are entitled to bid on and purchase any Collateral.

(4) Collateral will be sold to the highest qualified bidder in public. The foreclosing seller on behalf of each of the Secured Party reserves the right to accept bids in cash or on credit terms.

(5) The Collateral will be offered for sale in lots as determined by the auctioneer (which determination will be notified to interested potential bidders prior to the auction).

(6) Secured Party reserves the right to bid for and purchase all or any of the Collateral offered for sale, and to credit the purchase price of any Collateral against the expenses of the sale, principal, interest and any other amounts due on the debt owed to Secured Party by E-Lux.

(7) Bids may be oral, but are subject to the terms of Secured Party’s Bill of Sale, which each purchaser will be required to execute.

(8) The public sale of Collateral may be restructured, altered, modified, canceled, postponed or continued at any time for any reason or no reason.

(9) The sale of Collateral is intended to discharge the Secured Party’s liens on and security interests in the Collateral so sold, and all subordinate liens on and interests in such Collateral.

(10) Applicable sales tax (if any) will be the sole responsibility of the respective purchasers of any Collateral.

PLEASE TAKE FURTHER NOTICE that the foreclosing seller on behalf of the Secured Party reserves the right to change any of the foregoing terms or conditions of the public disposition that it is conducting at any time for any reason whatsoever or no reason without further notice.

PLEASE TAKE FURTHER NOTICE that the foreclosing seller on behalf of the Secured Party reserves all of its and any Secured Party’s respective rights to any deficiency in the event that the purchase price of the Collateral is less than the amount owed to them and secured by such Collateral.

PLEASE TAKE FURTHER NOTICE that you are entitled to an accounting of the unpaid indebtedness secured by the Collateral that is sold or transferred. You may request an accounting by submitting a written request to Michael Bowman at the contact information above.

FOR FURTHER INFORMATION regarding the public dispositions and the Collateral, or to register an interest as a potential bidder at the auction, contact Brian Testo, Brian Testo Associates LLC, 4035 E. Thousand Oaks Blvd. #105 Westlake Village, CA 91362, Telephone: (818) 592 6592, Fax: (818) 592-6591, email:  [email protected].