|DATE OF SALE:||November 8, 2018|
|PLACE OF SALE:||Intercounty Judicial Sales
120 West Madison Street, Suite 7l8A
|TIME OF SALE:||11:00 A.M. CST|
NOTICE IS HEREBY GIVEN that the collateral described below will be sold to the highest bidder at a PUBLIC SALE on November 8, 2018, 11:00 a.m. CST, at, Intercounty Judicial Sales, 120 West Madison Street, Suite 718A, Chicago, Illinois, by Intercounty Judicial Sales, court-appointed auctioneer, on behalf of COMM 2013-CCRE12 NORTH ROSELLE ROAD, LLC (“Secured Party”). Secured Party is a duly perfected first-priority secured creditor with respect to the Judgment of Foreclosure and Order of Sale entered against OM SHERA HOTELS OF CHICAGO, LLC (“Borrower”) in favor of Secured Party on August 14, 2018 in the Circuit Court of Cook County, Illinois, Case No. 18 CH 919 (the “Judgment”) and the security interests granted by the Mortgage and Security Agreement dated September 13, 2013 and recorded on September 17, 2013 as Document Number 1326022085 with the Cook County Recorder of Deeds to Secured Party against the property commonly known as 1550 N. Roselle Road, Schaumburg, Illinois (the “Property”). The collateral to be sold at public sale is the following assets in which Borrower owns or otherwise holds any interest or is used at or in connection with the Property:
(b) All licenses, permits agreements and authorizations for the operation of the Property;
(c) All leases, executor contracts, licenses, tradenames, trademarks, servicemarks, logos, copyrights, goodwill, books and records and all other general intangibles relating to or used in connection with the operation of the Property.
All capitalized definitional terms used herein and not otherwise defined shall have the respective meanings ascribed to such terms in the Uniform Commercial Code presently and hereafter enacted in the State of Illinois (collectively, the “Assets”).
THE ASSETS ARE BEING SOLD AS-IS, WHERE-IS, WITH ALL FAULTS, AND WITHOUT ANY REPRESENTATIONS OR WARRANTIES OF ANY NATURE, INCLUDING BUT NOT LIMITED TO THOSE EXPRESS, IMPLIED OR STATUTORY AND WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. SECURED PARTY DOES NOT REPRESENT OR WARRANT THAT BORROWER HAS TITLE TO ALL THE ASSETS. HIGHEST BIDDER SHALL RECEIVE A BILL OF SALE FOR THE ASSETS THAT CONTAINS THE ABOVE DISCLAIMERS.
Any prospective purchaser who is the highest bidder, other than Secured Party, will be required to pay the purchase price of the Assets (i) at the time of such public sale, and (ii) in cash, by cashier’s check, or in other immediately available funds. Secured Party and its assignee have the right to credit bid its debt. If Secured Party or its assignee is the highest bidder at such public sale, Secured Party or its assignee may pay the purchase price of the Assets, in whole or in part, by crediting the amount of such purchase price against the balance of the Judgment. If the highest cash bidder fails to tender payment immediately after the conclusion of the sale, Intercounty Judicial Sales reserves the right to declare the next highest bidder the successful bidder of the Assets.
The sale may be adjourned from time to time, and notice of any adjourned sale date will be given only at the time of the scheduled sale and to those who attend the sale.
For further information regarding the sale or to make arrangements to inspect the Assets or review documents relating to the Assets to be sold, please contact Mr. Jeffrey Kolessar of GF Management at 215-972-2227. Any prospective bidder is responsible for investigating the Assets, and making its own determination as to the appropriateness of bidding at the public sale, and assumes all risks associated with any inspection of the Assets or the accuracies or completeness of the Assets, including any books and records pertaining thereto. The Borrower is entitled to an accounting of the outstanding debts, obligations and liabilities secured by the Assets that we intend to sell (or lease or license, as applicable). The Borrower may request an accounting by contacting Jeffrey Kolessar.
COMM 2013-CCRE12 NORTH ROSELLE ROAD, LLC
By /s/ Andrew T. McClain
One of its Attorneys
The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts an similar topics.
PUBLIC NOTICE OF CHAPTER 11 AUCTION: Empire Generating Co, LLC
PUBLIC NOTICE OF CHAPTER 11 363 SALE: Substantially All Assets of Perfect Brow Art, Inc.
PUBLIC NOTICE OF ARTICLE 9 SALE: $5 Million Life Insurance Policy
PUBLIC NOTICE OF REAL ESTATE SALE: Southern Vermont College
90 Second Lesson: If I File a Chapter 7 Bankruptcy, Are the Assets of My Single-Member LLC Safe From the Trustee?
JOINT NOTICE OF PUBLIC SALE BY ORDER OF THE SECURED PARTY AND ASSIGNEE FOR THE BENEFIT OF CREDITORS OF MODAGRAFICS, INC.
Please log in again. The login page will open in a new window. After logging in you can close it and return to this page.
Our weekly newsletter, sent every Tuesday at 9am, includes: