CapitalSource Bank v. Walcott Enterprises Inc et al

Filing 45

ORDER APPROVING COMMISSIONER'S DEED, with copy of Commissioner's Deed attached. Signed by Judge James M. Moody on 2/9/2012. (jct)

IN THE UNITED STATES DISTRICT COURT

EASTERN DISTRICT OF ARKANSAS

JONESBORO DIVISION

CAPITALSOURCE BANK
v.

PLAINTIFF
CASE NO. CV-3:10 CV00325 JMM

WALCOTT ENTERPRISES, INC. AND
JONES TRAVEL MART, INC.

DEFENDANTS

NORTHCHASE DEVELOPMENT, INC.;
TIMOTHY J. LEATHERS, COMMISSIONER

OF REVENUES, STATE OF ARKANSAS;

BENNY MAGNESS AND JANIE MAGNESS;

THE CAPITAL BANK; DMC & JRM LLC,

DAVID COOK AND JACKIE McCLURE;

AND PEPSIAMERICAS, INC.

SEPARATE DEFENDANTS

ORDER APPROVING COMMISSIONER'S DEED
On this day is presented to the Court the Commissioner's Deed ofJan Griffith, Commissioner
appointed to execute the Judgment and Decree ofForeclosure rendered in the above-styled cause (the
"Judgment"), and the Court having examined the Commissioner's Deed to CSB SBL 406 Southwest
Texas Street DPC Holdings, LLC, assignee of the Judgment and the purchaser of the real and
personal property described in the Judgment of the Court and in said Commissioner's Deed, the
Commissioner's Deed is in all things approved and conflnned. And the Commissioner, having
acknowledged that she has executed the Commissioner's Deed to said purchaser, thereby conveying
the land and personalty more specifically described in the Judgment and Commissioner's Deed, for
the consideration and purposes set forth therein, it is therefore ORDERED that the Commissioner's
Deed be approved and confinned and that this order and acknowledgment be entered upon the record
along with said Commissioner's Deed, and certified by the Court Clerk under the seal ofthis Court.

1

IT IS SO ORDERED.

~VV\~
CuNhEnsiATES DISTRICT JUDGE
Date:_ _
"Z-_;k_~ -<-1_\_""2.­
_<1_'
__

ACKNOWLEDGMENT
IN WITNESS that the above and foregoing order and acknowledgment is a true and complete
copy of same from the records and proceedings of the United States District Court for the Eastern
District of Arkansas, I hereby set my hand and seal as Clerk of said Court on this Il1"'h day of
February, 2012.

JAMES W. McCORMACK, CLERK

DATE:

~IIO (WI1..,.;

2

IN THE UNITED STATES DISTRICT COURT

EASTERN DISTRICT OF ARKANSAS

JONESBORO DMSION

CAPITALSOURCE BANK
v.

PLAINTIFF
CASE NO. CV-3:10 CV00325 JMM

WALCOTT ENTERPRISES, INC. AND
JONES TRAVEL MART, INC.

DEFENDANTS

NORTBCHASE DEVELOPMENT, INC.;
TIMOTHY J. LEATHERS, COMMISSIONER

OF REVENUES, STATE OF ARKANSAS;

BENNY MAGNESS AND JANIE MAGNESS;

THE CAPITAL BANK; DMC & JRM LLC,

DAVID COOK AND JACKIE McCLURE;

AND PEPSIAMERICAS, INC.

SEPARATE DEFENDANTS

COMMISSIONER'S DEED
KNOW ALL MEN BY THESE PRESENTS:
That Jan Griffith, as Commissioner, hereby certifies and conveys as follows:
WHEREAS, in the United States District Court for the Eastern District ofArkansas, on the
15th day ofSeptember, 2011, it was ordered, adjudged and decreed in the above-styled cause, that
the Plaintiff, CapitalSource Bank, have judgment against the Defendants Walcott Enterprises, Inc.

of,.........

1IIp"

I CIH'ttfy under penalty
rlng ht.t ..... tt.
GOI'NCt .mount of documentlUy .tampII ..... been pleOld on .....

Instrument.

ThlelnatrulMnt PNPllred by:
Hany A. Ugtat
F,..,.1!IdI'IIdgII & Clerk
400 Wut Capitol.
2000
I.tItM Roc*, AR 72201

au...

·.1IddnIu

Gra..... or Onl",-,_ Aaent and G.......
to whICh tax atlitementa attouId be mailed:

~~DPCH"'_LLC
5404 W1lcone1n Avanue, 2l1li Floor

Chevy Chase. Mal)'fand 20815

and Jones Travel Mart, Inc., jointly and severally, and in rem against the real property and personalty
described below, in the sum of $1,284,902.78 as of June 22, 2011, with pre-judgment and post­
judgment interest as provided in the judgment, together with the costs ofsaid action and attorneys'
fees in the amount ofSI5,OOO.00 and it was decreed that all of the righ4 title, interest, equity and
estate of the Defendants and Separate Defendants and anyone claiming by through or under
Defendants and Separate Defendants, as well as all rights ofdower, homestead and redemption of
Defendants and Separate Defendants and anyone claiming by through or under Defendants or
Separate Defendants, in and to the property hereinafter described be foreclosed and forever barred,
and that upon default in the payment of said judgmen4 interes4 attorney's fee, and costs, this
Commissioner should give notice ofthe time, tenns and place ofsale and sell at public auction to the
highest bidder, on a credit of thirty (30) days, at the designated place in the Greene County
Courthouse in Greene County, Arkansas, between the hours ofnine o'clock in the moming and three
o'clock in the afternoon, following proper publication of notice, the real and personal property
described in the Judgment and Decree ofForeclosure entered in this matter on September 15, 2011
including, the real and personal property described in the following: (1) Mortgage dated December
21,2005, and recorded in the real estate records ofCJay County, Arkansas in Mortgage-E Book 199.
Pages 5520-5528; (2) Mortgage dated December21, 2005, and recorded in the real estate records of
Greene County, Arkansas as Docmnent No. 200511790; (3) Mortgage dated December 21, 2005, and
recorded in the real estate records ofLawrence County, Arkansas in Book 155, Pages 56-64; and (4)
Security Agreement dated December 21, 2005, executed by Walcott Enterprises, Inc. and delivered
to MainStreet Lender 7(a), LLC and incorporated herein by reference including the following
described real and personal property (the real property and other property described in the Mortgages
2

and Security Agreement together with all tenements, hereditaments and appurtenances thereunto
belonging being hereinafter referred to as the "Property'):
CLAY COUNTY PROPERTY
LOT 10 IN BLOCK 11 OF TEMPLETON'S THIRD ADDITION TO THE
CITY OF PIGGOT, CLAY COUNTY, ARKANSAS, LESS AND EXCEPT:
BEGINNING AT THE NORTHEAST CORNER OF SAID LOT 10, RUN
THENCE SOUTH 24 FEET; RUN THENCE WEST 109 FEET; RUN
THENCE NORTH 14.2 FEET; RUN THENCE WEST 31 FEET; RUN
THENCE NORTH 9.8 FEET; RUN THENCE EAST 140 FEET TO THE
POINT OF BEGINNING.
AND
ALL OF LOTS 11 AND 12 IN BLOCK 11 OF TEMPLETON'S mIRD
ADDmON TO THE CITY OF PIGGOT, CLAY COUNTY, ARKANSAS.
GREENE COUNTY PROPERTY
TRACINO.l:
LOTS 10 AND 11, BLOCK 3, MeDONALD'S THIRD ADDITION TO THE
CITY OFPARAGOULD,ARKANSAS. LESS AND EXCEPT: PART OF LOT
10, BLOCK 3, MeDONALD'S THIRD ADDmON TO THE CITY OF
PARAGOULD, SECTION 31, TOWNSHIP 17 NORTH, RANGE (; EAST,
GREENE COUNTY, ARKANSAS, MORE PARTICULARLY DESCRIBED
AS FOLLOWS; STARTING AT THE SOUTHEAST CORNER OF LOT 10,
BLOCK 3, MeDONALD'S THIRD ADDITION; THENCE NORTH 00
DEGREES 33 MINUTES 13 SECONDS EAST ALONG THE EAST LINE
THEREOF A DISTANCE OF 83.06 FEET TO A POINT ON THE
SOUTHERLY EXISTING RIGHT OF WAY LINE OF U.S. HIGHWAY 49B;
THENCE NORTH 75 DEGREES 24 MINUTES 55 SECONDS WEST ALONG
SAID LINE A DISTANCE OF 150.31 FEET TO A POINT ON THE
PROPOSED RIGHT OF WAY LINE OF U.S. HIGHWAY 49B FOR THE
POINT OF BEGINNING; THENCE SOUTH 52 DEGREES 21 MINUTES 34
SECONDS WEST ALONG SAID PROPOSED RIGHT OF WAY LINE A
DISTANCE OF 27.95 FEET TO A POINT ON THE EASTERLY EXISTING
RIGHT OF WAY LINE OF NORTH 4TH STREET; THENCE NORTH 00
DEGREES 44 MINUTES 35 SECONDS EAST ALONG SAID EXISTING
RIGHT OF WAY LINE A DISTANCE OF 22.75 FEET TO A POINT ON THE
SOUTHERLY EXISTING RIGHT OF WAY LINE OF U.S. HIGHWAY 49B;
C:INRPORTDLIFECISBEGGS\1617;100.DOC

3

THENCE SOUTH 75 DEGREES 24 MINUTES 57 SECONDS EAST ALONG
SAID EXISTING RIGHT OF WAY LINE A DISTANCE OF 21.56 FEET TO
THE POINT OF BEGINNING.
TRACT NO.2:
LOTS 7 AND 8, BLOCK 10 OF McDONALD'S FOURTH ADDITION TO
THE CITY OF PARAGOULD, GREENE COUNTY, ARKANSAS.
TRACT NO. 3:
LOTS 8 AND 9, BLOCK 3, McDONALD'S THIRD ADDmON TO THE CITY
OF PARAGOULD, GREENE COUNTY, ARKANSAS.
LAWRENCE COUNTY PROPERTY
LOTS 2, 3,4,5,6, 7, 8, 9 AND 10, BLOCK 1 BOAS THIRD ADDITION TO
THE TOWN OF HOXIE, LAWRENCE COUNTY, ARKANSAS. SUBJECT
TO AN ENCROACHMENT FROM LOT 3, BEGINNING 6.7 FEET SOUTH
OF THE NORTHWEST CORNER OF LOT 4 AND RUNNING AT AN
ANGLE TO THE NORTHEAST CORNER OF SAID LOT.
Together with the following personal property:
Goods, including Equipment, FIXtures, Furniture, and Accessions covered by
that Security Agreement dated December 21, 1005, executed by Walcott
Enterprises, Inc. and delivered to MainStreet Lender 7(a), LLC. All personal
property described in that Mortgage recorded on December 17, lOOS, in
Mortgage Book-E 199, Pages 5510-5511 or the records of Clay, County,
Arkansas, all personal property described in that Mortgage recorded on
December 29, 2005, as Document No. 200511790 or the records of Greene
County, ArkaD.sas and that personal property described in tbat Mortgage
recorded on December 28, lOOS, in Book 155, Pages 56-64 of the records of
Lawrence County, Arkansas
AND WHEREAS, said sale was conducted according to the judgment and decree of
said Court and in accordance with applicable law, which sale was duly reported to the Court
and approved by the Court and the undersigned Commissioner was directed to make a deed
to the purchaser, CSB SBL 406 Southwest Texas Street DPC Holdings LLC, assignee of

4

'.
Plaintiff. who offered the highest and best bid at said sale;
AND WHEREAS, the undersigned Conunissioner and the Grantee named herein, who was
the purchaser at said sale. have in all respects complied with and conformed to applicable law, and
their respective actions have been approved by and have been in accordance with the orders ofthe
Court;
NOW THEREFORE, Jan Griffith, as Commissioner. acting for and on behalf ofthe United
States District Court for the Eastern District of Arkansas, and in accordance with its Judgment and

Decree of Foreclosure in consideration oftbe premises and of the sum of$840,OOO.OO, as a credit
against the judgment, does hereby grant, bargain, sell and convey the Property unto CSB SBL 406
Southwest Texas Street DPC Holdings LLC, and unto its successors, heirs and assigns forever.
In Witness Whereof. I have hereunto affixed my hand as Commissioner, and the seal ofthis

Court, this

L

day ofFebruary. 2012.

COiIONE

5

ACKNOWLEDGMENT

STATE OF ARKANSAS

)
) SS.

COUNTY OF GREENE

)

On this day personally appeared before me, the undersigned, a Notary Public, within and for
the state and county aforesaid, duly commissioned, qualified and acting, Jan Griffith, Commissioner,
to me known to be the person executing the foregoing Commissioners Deed and acknowledged to
me that she has executed the same for the consideration, uses and purposes therein mentioned and set
forth.

WITNESS my hand and official seal as such Notary Public, on this
February, 2012.

My Commission Expires:

\.. \1-dDlo

6

g Tn

day of