Pursuant to Section 5/9-610 of the Illinois Uniform Commercial Code (ILCS 5/9 § 9-610), and pursuant to a Promissory Note and Security Agreement dated as of October 13, 2015 (as subsequently amended, modified, and supplemented, the “Security Agreement”) among Nu-World Amaranth, Inc. (the “Borrower”) and Steve Sarowitz (the “Lender”), the Lender will sell its interest in substantially all of the Borrower’s personal assets (the “Assets”) listed in Section 2 of the Security Agreement between the Lender and the Borrower, as the debtor, at a public sale to be held on May 1, 2018.
The Assets consist of all of the Borrower’s Accounts, Chattel Paper, Commercial Tort Claims, Deposit Accounts, Documents, Equipment, Farm Products, Fixtures, General Intangibles, Goods, Instruments, Inventory, Investment Property, Letters of Credit, Letter-of-Credit Rights, Pledged Deposits, Supporting Obligations, and other Collateral, wherever located, together with proceeds thereof. Neither Lender nor the Borrower is purporting to sell any interest in any asset that is (i) not owned by the Borrower; or (ii) not subject to a first-priority lien in favor of the Lender. The Assets secure the repayment of the indebtedness of the Borrower to the Lender under the Promissory Note in the amount of $10,141,006.00 as of March 16, 2018.
Subject to all the terms of this Notice, the Assets will be sold to the highest bidder at public auction. The auction shall take place May 1, 2018, at 11:00 A.M. CDT, at the offices of Sugar Felsenthal Grais & Helsinger LLP, 30 N. LaSalle Street, Suite 3000, Chicago, Illinois.
Persons wishing to inspect the loan documents or the collateral may call or write Christopher J. Horvay, attorney for the Lender, at Sugar Felsenthal Grais & Helsinger LLP, 30 N. LaSalle Street, Suite 3000, Chicago, Illinois, 60602 (312) 704-9400.
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