Bank of America, N.A. v. Caruk Holdings Arkansas, LLC et al

Filing 76

MODIFIED DECREE of Foreclosure in Rem in amount of $153,418.32. Interest from date of judgment to accrue at the legal rate of.15% per annum, as set forth. Signed by Honorable Jimm Larry Hendren on February 11, 2014. (cc: U.S. Marshals Service).(lw)

IN THE UNITED STATES DISTRICT COURT
WESTERN DISTRICT OF ARKANSAS
FORT SMITH DIVISION
BANK OF AMERICA, N.A.
v.

PLAINTIFF
Civil No. 11-2096

CARUK HOLDINGS ARKANSAS, LLC;
DENISE L. CARUK; and
GORDON C. CARUK

DEFENDANTS

MODIFIED DECREE OF FORECLOSURE
Now on this 11th day of February 2014, the Court hereby
modifies its previous decree to allow for a private sale, as
outlined in the Order entered on January 8, 2014. Accordingly, the
Court finds as follows:
1.

This Court has jurisdiction of the parties and subject

matter herein.
2.

On February 19, 2013, the Court entered Judgment in rem

against certain Real Property in favor of plaintiff Bank of
America,

N.A.

(BANA).

The

judgment

was

in

the

amount

of

$87,688.52, plus attorneys' fees and costs of $65,729.80, bearing
post-judgment interest at the rate of 0.15% per annum.
3.

Despite notice and demand, defendants Gordon and Denise

Caruk1 failed to pay the judgment within ten days of its entry,
and on March 28, 2013, the Court entered a Decree of Foreclosure
authorizing public sale of the Real Property.
4.

On January 8, 2014, the Court granted BANA's motion to

1
Defendant Caruk Holdings Arkansas, LLC was dismissed from the action in an Amended
and Substituted Memorandum Opinion entered on February 19, 2013.

modify the decree and approve a certain agreement for private sale
of the Real Property.
5.

As directed by the Court, BANA has furnished proof of

publication of the terms of the proposed sale and notice that no
offer of purchase was received in response to the publication.
IT IS THEREFORE ORDERED AND DECREED:
*

That, as previously ordered, BANA have and recover

judgment in rem against the property, and not in personam against
the defendants, the amount of $153,418.32 (comprised of $87,688.52
due on the loan and the sum of $65,729.80 for attorneys' fees and
costs), together with interest accruing thereon at the legal rate
of 0.15% per annum pursuant to 28 U.S.C. § 1961(a) from the date
of the judgment until paid, and any costs herein laid out and
expended.
*

That BANA's prayer for a Modified Decree of Foreclosure

should be, and is hereby, granted.
IT IS FURTHER ORDERED:
*

That the U.S. Marshal for the Western District of

Arkansas, or his deputy, shall conduct a private sale of the Real
Property, as described below, to Doug Ellison in accordance with
this Court's Order dated January 8, 2014:
Part of the Northeast Quarter Southwest Quarter of
Section 5, Township 4 North, Range 31 West, Greenwood
District, Sebastian County, Arkansas, more particularly
described as follows: Beginning at the Southeast corner
of said Northeast Quarter Southwest Quarter; thence
North 00 degrees 13 minutes 12 seconds East, along the
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East line of said Forty, 16.09 feet to a point in the
centerline of Arkansas Highway No. 96 and the point of
beginning; thence South 84 degrees 58 minutes 37 seconds
West, along said centerline 60.30 feet; thence North 89
degrees 13 minutes 12 seconds West, along said
centerline, 1234.44 feet; thence North 00 degrees 12
minutes 39 seconds West, along an existing fence line,
641.05 feet; thence South 89 degrees 34 minutes 05
seconds East, 1299.19 feet to the East line of said
Forty; thence South 00 degrees 13 minutes 12 seconds
West, along said East line, 642.79 feet to the point of
beginning. Less and except public roads and rights of
way. Less and except minerals and mineral rights.
Subject to all prior mineral reservations of record and
subject to Oil & Gas Leases of record.
After confirmation from BANA that the purchase price has been
received, the U.S. Marshal, or his deputy, shall deed the Real
Property to Doug Ellison by special warranty deed. In doing so,
the U.S. Marshal does not warrant title, boundary lines, taxes
and/or improvements, if any, on the property. The buyer shall be
responsible for filing the deed and other appropriate documents
with the county.
IT IS FURTHER ORDERED:
*

That, within ten (10) days after the sale, BANA will

provide the Court with the U.S. Marshal's report confirming the
private

sale.

Once

the

Court

receives the

report,

an

order

confirming the sale and dismissing the matter will be entered.
Until such time, the Court retains jurisdiction to carry out and
enforce the orders herein.
IT IS FURTHER ORDERED:
*

That upon sale of the Real Property and confirmation

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thereof by this Court, then all right, title, and interest of all
parties

in

possibility

and
of

to

said

curtesy,

property,
dower,

including

homestead,

any

rights

appraisement,

or
and

redemption are forever barred and FORECLOSED.
IT IS SO ORDERED.
/s/ Jimm Larry Hendren
JIMM LARRY HENDREN
UNITED STATES DISTRICT JUDGE

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