Federal Deposit Insurance Corporation v. Colony Corporate Centre, LLC et al
Filing
113
FINAL JUDGMENT OF FORECLOSURE AND ORDER OF SALE. Signed by Judge James D. Whittemore on 7/30/2012. (KE)
UNITED STATES DISTRICT COURT
MIDDLE DISTRICT OF FLORIDA
FORT MYERS DIVISION
SOUTH CRE VENTURE 2010-2, LLC,
Plaintiff,
Case No. 2:10-cv-00774-FtM-UA-SPC
vs.
COLONY CORPORATE CENTRE,
LLC~aCOLONYCORPORATE
CENTRE, INC., et al.,
Defendants.
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FINAL JUDGMENT OF FORECLOSURE AND ORDER OF SALE
THIS CAUSE came before the Court on the Plaintiff South CRE Venture 2010-2, LLC's
Amended Motion for Summary Final Judgment of Foreclosure (as to Count I) (Dkt. 103) and
supporting affidavits filed by Plaintiff. Pursuant to the Order granting Plaintiff South CRE Venture
2010-2, LLC' s Amended Motion for Summary Final Judgment of Foreclosure (as to Count I) , it is
ORDERED AND ADJUDGED as follows:
(1)
Service of process has been duly made on COLONY CORPORATE CENTRE, LLC
fIkIa COLONY CORPORATE CENTRE, INC., JOSEPH E. D'JAMOOS, PHILBIN BROTHERS
LLC, a Florida limited liability company, WALL SYSTEMS, INC. OF SOUTHWEST FLORIDA,
a Florida corporation doing business as PROFESSIONAL BUILDING SYSTEMS, THE
FOUNDATION OF PELICAN MARSH, INC., a Florida corporation, and VANDERBILT
GALLERIA CONDOMINIUM ASSOCIATION, INC., a Florida corporation. This court has
jurisdiction over the Defendants.
(2)
There is due and owing to Plaintiff, South CRE Venture 2010-2, LLC, the following:
First Mortgage
Principal: $5,160,000.00
Interest to 7/20/12: $810,120.00
Title Search Expense: $575.00
Attorneys' Fees: $19,875.00
Court Costs: $ 200.00
Default interest and Late Fees: $ 287,585.38
Escrow Shortage: $141,545.11
SUBTOTAL: $6,419,900.49
Second Mortgage
Principal: $117,939.24
Interest to 7120112: $17,451.39
Default Interest and Late Fees: $6,396.48
Escrow Shortage: $0.00
SUBTOTAL: $141,787.11
TOTAL: $6,561,687.60
(3)
The First Mortgage shall continue to bear interest from this date forward at 6.0% per
annum ($860.00 per diem) through the date of this Judgment. The Second Mortgage shall continue
to bear interest from this date forward at 7.0% per annum ($22.93 per diem) through the date of this
Judgment.
Thereafter, the total amount shall bear interest at the statutory rate provided by
28 U.S.C. § 1961, which rate shall remain the same until the Judgment is paid. Plaintiff shall
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recover such further costs as may be incurred by it in this action, including but not limited to any
subsequent advances made by Plaintiff in aid of foreclosure, including the sale fee and publication
of notice of sale fee.
(4)
Plaintiff, whose address is 1591 Hayley Lane, Suite 102,FortMyers,Florida 33907,
holds a lien for a total sum specified in Paragraph 3 herein, which encumbers the subject property
located in Collier County, Florida, and more particularly described below:
Unit 113-102, Unit 113-103, Unit 113-104, Unit 113-105, Unit 113-106, Unit
113-202, Unit 113-203, Unit 113-204, and Unit 113-205, Vanderbilt Galleria, a
condominium according to the Declaration of Condominium thereof as recorded in
Official Records Book 2862, Page 2103, and subsequent amendments thereto, of the
Public Records of Collier County, Florida.
(5)
The lien of the Plaintiff is superior in dignity to any right, title, interest or claim of
the Defendants and all persons, corporations, or other entities claiming by, through, or under the
Defendants, or any ofthem, and the Property (defined below) will be sold free and clear of all claims
ofthe Defendants, except as to Vanderbilt Galleria Condominium Association, Inc. 's claims or rights
under chapter 718 or chapter 720, Florida Statutes.
(6)
If the total sum with interest at the rate described in Paragraph2 is not paid, the U.S.
Marshal shall sell the subject property in accordance with the provisions of28 U.S.C. §§ 2001 &
2002, at public sale to the highest bidder by certified check made payable to the United States
District Court for the Middle District of Florida or for cash, except as set forth hereinafter, on the
date and at the time and location Plaintiff coordinates with the U.S. Marshal's Office. Such sale shall
not be held in the absence of Plaintiff's attorney or other representative. If a sale does occur in the
absence of a representative of Plaintiff, the sale shall be null and void and no documents shall be
issued by the U.S. Marshal, except to inform this Court as to what occurred. The U.S. Marshal shall
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give public notice of such sale pursuant to 28 U .S.C. § 2002, by publication in a newspaper regularly
issued and of general circulation in Collier County, Florida, once a week for four (4) consecutive
weeks, beginning not less than twenty-eight (28) days prior to the date of sale. Upon completion of
the sale, the U.S. Marshal will issue a Certificate or Report of Sale, to be prepared by Plaintiffs
counsel, and shall file the same in the court file. If the successful bidder is a party or third party
other than Plaintiff, said bidder shall post with the Clerk of the Court, U.S. District Court, Middle
District of Florida (the "Clerk") a deposit equal to ten percent (10%) of the final bid. The deposit
shall be applied to the sale price at the time of the final payment which shall occur no later than 5:00
p.m. the next business day following the sale. If final payment is not made within the prescribed
period, the U.S. Marshal shall re-advertise the sale, pay all costs of the sale from the deposit and
remit any remaining funds to Plaintiff in reduction of Plaintiffs debt.
(7)
Plaintiff shall advance all subsequent costs of this action and shall be reimbursed for
them by the Clerk if Plaintiff is not the purchaser of the Property at the sale. If Plaintiff or any
assignee of Plaintiff is the purchaser, the U.S. Marshal shall credit Plaintiffs bid with the total sum
set forth in Paragraph 2 above, with post-judgment interest and costs accruing subsequent to this
judgment, or such part of it as is necessary to pay the bid in full. If prior to the sale, Plaintiff shall
be required to advance any monies in aid of the foreclosure or for the protection of its lien, then
Plaintiff or its attorneys shall so certify to the U.S. Marshal and the amounts due to Plaintiff shall
be increased by the amount of such advances without further Order of this Court. If Plaintiff is the
successful bidder at the sale, Plaintiffs rights as such may be assigned to a third party and, in that
event, the U.S. Marshal is hereby ordered and directed to issue the Marshal's Deed to Plaintiffs
assignee upon application of Plaintiff and without further Order of this Court. If Plaintiff is the
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successful bidder but does not assign its rights to a third party, the u.s. Marshal is hereby ordered
and directed to issue the Marshal's Deed to Plaintiff. In either event, the Marshal's Deed shall not
be issued until the eleventh day after the sale. Upon issuance of the Marshal's Deed and transfer of
title ofthe Property to the purchaser at the sale or its assignee, the sale shall thereby stand confirmed,
without further order of this Court.
(8)
If the Plaintiff incurs additional expenses not otherwise provided for herein,
subsequent to the entry of this final judgment but prior to the sale date, Plaintiff may, by written
motion served on all parties, seek to amend this final judgment to include said additional expenses.
(9)
On filing the Marshal's Deed, the Clerk shall distribute the proceeds of the sale, so
far as they are sufficient, by paying: first, all of Plaintiffs costs; second, documentary stamps affixed
to the Marshal's Deed, unless Plaintiff is not the successful bidder in which event the successful
bidder shall pay the costs of said documentary stamps and any sale fee due and payable to the U.S.
Marshal in addition to the amount of the bid; third, the Total Sum Due to Plaintiff, less the items
paid above, plus interest at the statutory rate prescribed in paragraph 4 from this date to the date of
the sale, and by retaining any remaining amount pending the further order of this Court. All sums
to be disbursed to Plaintiff shall be made payable to Plaintiffs Attorneys: Henderson, Franklin,
Starnes & Holt, P.A. Trust Account.
(10)
Upon issuance ofthe Certificate or Report of Sale by the U.S. Marshal, Defendants
and all persons claiming under or against them since the filing of the Notice of Lis Pendens shall be
foreclosed of all estate or claim in the Property, and Defendant's right of redemption shall expire.
(11)
The successful bidder at the foreclosure sale or their heirs, representatives, successors
or assigns, shall be placed in possession of the Property upon the issuance of the Marshal's Deed for
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the Property. The U.S. Marshal is hereby authorized and directed to issue a Writ of Possession to
the said successful bidders for the Property, upon application, without further order of this Court.
(12)
Jurisdiction of this action is retained to enter further orders as are proper including,
without limitation, the issuance of a writ of possession.
NOTICE PURSUANT TO AMENDMENT TO SECTION 45.031. FLORIDA STATUTES
IF THIS PROPERTY IS SOLD AT PUBLIC AUCTION, THERE MAY BE
ADDITIONAL MONEY FROM THE SALE AFTER PAYMENT OF PERSONS WHO ARE
ENTITLED TO BE PAID FROM THE SALE PROCEEDS PURSUANT TO THIS FINAL
JUDGMENT.
IF YOU ARE A SUBORDINATE LIENHOLDER CLAIMING A RIGHT TO FUNDS
REMAINING AFTER THE SALE, YOU MUST FILE A CLAIM WITH THE CLERK OF
THE UNITED STATES DISTRICT COURT, MIDDLE DISTRICT OF FLORIDA ("CLERK
OF THE COURT") NO LATER THAN SIXTY (60) DAYS AFTER THE SALE. IF YOU
FAIL TO FILE A CLAIM, YOU WILL NOT BE ENTITLED TO ANY REMAINING
FUNDS.
IF YOU ARE THE PROPERTY OWNER, YOU MAY CLAIM THESE FUNDS
YOURSELF. YOU ARE NOT REQUIRED TO HAVE A LAWYER OR ANY OTHER
REPRESENTATION AND YOU DO NOT HAVE TO ASSIGN YOUR RIGHTS TO
ANYONE ELSE IN ORDER FOR YOU TO CLAIM ANY MONEY TO WHICH YOU ARE
ENTITLED.
PLEASE CHECK WITH THE CLERK OF THE COURT WITHIN
TEN (10) DAYS AFTER THE SALE TO SEE IF THERE IS ADDITIONAL MONEY FROM
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THE FORECLOSURE SALE THAT THE CLERK HAS IN THE REGISTRY OF THE
COURT.
-n.
DONE AND ORDERED in chambers this.3Q day of July, 2012.
Copies to: .
Counsel of Record
Unrepresented Parties
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