NOTICE OF PUBLIC AUCTION NOTICE IS

81637 | 05/29/2021 | Ad id: 9-0000691627-01
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NOTICE OF PUBLIC AUCTION NOTICE IS HEREBY GIVEN THAT the real property described in Exhibit A will be sold by THE UNION SQUARE OWNERS ASSOCIATION, INC. (the "Association") at public auction to the highest bidder, purchase price payable in lawful money of the United States of America at the time of sale, in the lobby of the Sky Lodge or in another room of the Sky Lodge that will be set forth in a notice posted in the lobby, which is located at 201 Heber Ave., Park City, Utah 84060 on June 29, 2021 at 10:00 a.m. MDT. Bidders may also participate in the auction via Zoom at the following link: https://us02web.zoom.us/j/84031903681?pwd=NHJsSzRsZ2oxeDVWdjh2OXdDdXpsZz09 The sale of the aforementioned real property will take place in accordance with an order entered by the Third District Court of Utah in Case No. 170500482, a copy of which is included as Exhibit B. The sale of the aforementioned real property will be made without warranty as to title, possession, or encumbrances and shall be conveyed to the highest bidder via quitclaim deed. Bidding on the real property described in Exhibit A will start at Forty Thousand and No/100 Dollars ($40,000). Successful bidders must be prepared to tender a cashier's check or wire transfer in the non-refundable amount of Five Thousand and No/100 Dollars ($5,000) at the time of sale. The balance of the purchase price must be paid in full by cashier's check or wire transfer within forty-eight (48) hours of the sale. If the balance of the purchase price is not paid within forty-eight (48) hours of the sale, the aforementioned real property will be sold to the next highest bidder and the successful bidder's deposit will be retained as damages by the Association. EXHIBIT A REAL PROPERTY That certain real property located in Summit County, State of Utah, more particularly described as follows: AN UNDIVIDED ONE-EIGHTH (1/8) SHARE INTEREST IN UNIT 106, AKA (106-F), CONTAINED WITHIN THE FIRST AMENDED CONDOMINIUM PLAT OF UNION SQUARE, A UTAH CONDOMINIUM PROJECT AS THE SAME IS IDENTIFIED IN THE RECORD OF SURVEY MAP RECORDED AUGUST 03, 2009 IN SUMMIT COUNTY, AS ENTRY NO. 879382 (AS SAID RECORD OF SURVEY MAP MAY HAVE HERETOFORE BEEN AMENDED OR SUPPLEMENTED) AND IN THE DECLARATION RECORDED ON APRIL 12, 2006 IN SUMMIT COUNTY, AS ENTRY NO. 774533 IN BOOK 1784 AT PAGE 195 (AS SAID DECLARATION MAY HAVE HERETOFORE BEEN AMENDED OR SUPPLEMENTED.) TOGETHER WITH THE APPURTENANT UNDIVIDED INTEREST IN SAID PROJECT'S COMMON AREAS AS ESTABLISHED IN SAID DECLARATION AND ALLOWING FOR PERIODIC ALTERATION BOTH IN THE MAGNITUDE OF SAID UNDIVIDED INTEREST AND IN THE COMPOSITION OF THE COMMON AREAS AND FACILITIES TO WHICH SAID INTEREST RELATES. TOGETHER WITH: THE EXCLUSIVE RIGHT TO POSSESSION AND OCCUPANCY OF THE AFOREMENTIONED SHARED INTEREST IN UNIT IN THE SKY LODGE DURING CERTAIN VACATION TIME IN ACCORDANCE WITH THE SHARED OWNERSHIP REGIME AND THE RESERVATION POLICIES AND PROCEDURES. EXHIBIT B ORDER Troy J. Aramburu (10444) Dillon P. Olson (16120) SNELL & WILMER L.L.P. 15 West South Temple, Suite 1200 Salt Lake City, Utah 84101 Telephone: (801) 257-1900 Facsimile: (801) 257-1800 Email: Email Me Email Me Attorneys for John Curtis, Receiver over Union Square Owners Association, Inc. IN THE THIRD JUDICIAL DISTRICT COURT IN AND FOR SUMMIT COUNTY, STATE OF UTAH CHARLES RAEBURN, et al., Plaintiffs, vs. KENNETH ABDALLA, et al., Defendants. ORDER GRANTING MOTION TO APPROVE AUCTION PROCEDURES FOR SALES OF SHARED INTEREST UNITS HELD BY THE ASSOCIATION Civil No. 170500482 (Consolidated Proceeding Civil No. 200500201) Judge Kent Holmberg Before the Court is the Receiver's Motion to Approve Auction Procedures for Sales of Shared Interest Units Held by the Association (the "Motion").1 No objections or oppositions to the Motion were filed and the time to object to or oppose the Motion has expired. Being fully informed on the Motion, and for good cause appearing therefor, the Court hereby GRANTS the Motion, and ORDERS that the Receiver, on behalf of the Association, is authorized to sell any and all units the Association currently owns or to which it takes title during Unless otherwise defined herein, capitalized terms shall carry the same meaning ascribed to them in the Motion. the course of the Receivership. In selling the units, the Receiver and Association shall adhere to the following procedures: 1. The sale of the Association Units will be by public auction to the highest bidder, with the auction to be conducted by the Receiver or his counsel; 2. The Receiver shall give at least thirty days' prior written notice of the time and place of the sale describing the property to be sold (i.e., the Association Units) by public auction: i. by publication of the notice in the Park Record and utahlegals.com once a week over three consecutive weeks prior to the date of the sale; ii. by posting the notice in a conspicuous place at the Property; iii. by posting the notice at the office of the Summit County recorder; and iv. by emailing the notice to all owners who have provided their email addresses to the Receiver for receiving communications (such as the monthly reporting of the Receiver). 3. The Receiver may postpone the sale for up to 45 days from the date of the designated sale date for any reason he considers expedient, and he may do so by public declaration at the sale without any need to further publish, post, or notice such postponement; 4. The public auction shall be conducted at the Sky Lodge and will be available for access via Zoom, Skype, or some other digital method to accommodate remote participants; 5. The Association Units will be sold in the order directed by the Receiver; 6. The Receiver may, in his discretion, set a minimum starting sales price at the auction; 7. Any person may bid at the sale, including the Association via credit bid or otherwise, and a bid is considered an irrevocable offer; 8. The successful bidder must make a deposit of at least $5,000 at the sale, with the remainder of the bid price to be paid to the Receiver within 48 hours of the sale. If the bidder fails to pay the full bid price within 48 hours of the sale, the property will be sold to the next highest bidder; 9. The sales of the Association Units will be "as is, where is" and not subject to any warranty given by the Association or the Receiver; 10. In exchange for payment of the full bid price by the winning bidder, the Association will convey title to the Association Unit(s) to the winning bidder via quitclaim deed or similar conveyance; and 11. The results of any such sales will be reported to the Court and the owners vis-a- vis the Receiver's next interim monthly or final reporting that will occur after the sale has been conducted. Pursuant to Rule lO(e) of the Utah Rules of Civil Procedure, this Order will be entered by the Court's signature at the top of the first page PUBLISHED IN THE PARK RECORD ON SATURDAY MAY 29, 2021, SATURDAY JUNE 5, 2021 AND SATURDAY JUNE 12, 2021.