PLEASE TAKE NOTICE that, in accordance with applicable provisions of the Uniform Commercial Code as enacted in Delaware (“Delaware UCC”), notice is hereby given that a public sale shall be conducted of the secured grid promissory notes and related loan documents pledged by Art Finance Funding (IX), LLC (“Borrower”) to Century Bank (“Secured Party”) pursuant to the Commercial Pledge Agreements, dated as of May 21, 2020, August 31, 2020, November 12, 2020, August 3, 2021, and August 6, 2021, respectively, in each case executed between Secured Party and Borrower, to secure obligations owed under loans made by Secured Party to Borrower pursuant to the master Business Loan Agreement dated as of July 22, 2022, as described in Schedule A (the “Collateral”).
The sale will take place at 3:30 p.m. EDT on August 25, 2026, via Zoom, as well as in person at Gibson, Dunn & Crutcher LLP, located at 200 Park Avenue, New York, New York 10166, Attention: Jason Myatt, Esq. Remote log-in credentials will be provided to registered bidders upon request.
The Collateral will be sold to the highest qualified bidder for cash, or the credit against outstanding indebtedness held by the Secured Party. Secured Party reserves the right to bid, assign its bid, and credit bid all or any portion of the secured indebtedness. The Collateral is offered “AS IS, WHERE IS,” with all faults, and there is no warranty by the Secured Party relating to title, possession, quiet enjoyment, merchantability, fitness or the like in this disposition.
Under the applicable provisions of the Delaware UCC, Borrower is entitled, at no additional cost to it, to an accounting of all the unpaid indebtedness that is secured by the Collateral. Borrower may request such an accounting by contacting Secured Party’s counsel, Jason Myatt, Gibson, Dunn & Crutcher LLP, 200 Park Avenue, New York, New York 10166; (212) 351-4085; and [email protected].
Secured Party reserves the right, in accordance with the Delaware UCC, prior to the auction date to cancel the sale in its entirety, or to adjourn the sale to a future date, or to modify, waive or amend any terms or conditions of the auction or impose any other terms or conditions on the auction and, if Secured Party, or an affiliate of Secured Party, deems appropriate, to reject any or all bids or to continue the auction to such time and place as Secured Party, or an affiliate of Secured Party, in its sole and absolute discretion, may deem fit.
To be a qualified bidder, each prospective bidder must, by 3:30 p.m. EDT on August 18, 2026: (1) execute and deliver to Jason Myatt, Esq. (by email at [email protected]), a written certification on the form attached to Terms of Sale; (2) provide to Jason Myatt, Esq. (by email at [email protected]) proof of readily available funds; and (3) register as a prospective bidder at the auction with Mannion Auctions, LLC by email to [email protected].
Interested parties that intend to bid on the Collateral should contact Jason Myatt, Esq. at (212) 351-4085 or [email protected] to receive the Terms of Sale and bidding instructions.
Schedule A – Collateral
Collateral in which Borrower granted Secured Party a security interest includes, without limitation, the following assets of Borrower, together with any related loan documents, modifications, amendments, replacements, and extensions: (a) Secured Grid Promissory Note dated May 8, 2020, in the amount of $6,000,000 by and between Rose Petal Commodities, Inc. and Borrower; (b) Secured Grid Promissory Note dated November 14, 2023, in the amount of $5,000,000 by and between Adelson Galleries, Inc. and Borrower, which amended, restated, and replaced the Secured Grid Promissory Note dated July 27, 2020, in the amount of $2,500,000 by and between Adelson Galleries, Inc. and Borrower; (c) Secured Grid Promissory Note dated October 26, 2020, in the amount of $7,500,000 by and between Viana Art, LLC and Borrower; (d) Secured Grid Promissory Note dated March 2, 2019, in the amount of $3,500,000 by and between Carlton Rochell, Jr. and Borrower; (e) Secured Grid Promissory Note dated March 28, 2021, in the amount of $3,500,000 by and between Carlton Rochell, Jr. and Borrower; (f) Secured Grid Promissory Note dated November 1, 2023, in the amount of $7,500,000 by and between Carlton Rochell, Jr. and Borrower; and (g) Secured Grid Promissory Note dated July 29, 2021, in the amount of $4,000,000 by and between Petrarch, LLC d/b/a Electrum, and Tanis Antiquities, Ltd. and Borrower.
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