C-III Asset Management LLC v. Esquire Development LLC
Filing
29
DEFAULT JUDGMENT of Foreclosure in favor of C-III Asset Management LLC against Esquire Development LLC in the amount of $ 5,307,882.12. (WMC / PAO). (rep)
IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF WISCONSIN
C-III ASSET MANAGEMENT LLC, solely in its
capacity as Special Servicer,
Plaintiff,
OPINION AND ORDER
v.
11-cv-739-wmc
ESQUIRE DEVELOPMENT LLC,
Defendant.
DEFAULT FORECLOSURE JUDGMENT
Plaintiff C-111 Assett Management LLC having filed due proof of proper service of
the Summons and Complaint in this matter and the timely filing of the lis pendens in the
respective counties below;
It appearing that the time for answering the complaint in this matter has expired,
that defendant Esquire Development LLC has failed to file or serve an answer, motion or
other responsive pleading, and that no other appearances having been made in this
action;
Plaintiff having timely moved for default foreclosure judgment; and proof of the
matters and items alleged in the complaint having been made and proven by unopposed
affidavit;
Therefore, IT IS HEREBY ORDERED AND ADJUDGED that:
1. Plaintiffs motion for default foreclosure judgment against defendant Esquire
Development LLC is granted.
2. Esquire Development LLC ("Esquire Development") is indebted to Plaintiff
under the promissory note in this action in the total amount of $5,307,882.12,
consisting of $4,068,577.27 in principle and $1,239,304.85 of interest, contractual late
fees and protective advances.
3. The promissory note is secured by the following real property:
PARCEL A:
Lot One (1) of Certified Survey Map recorded in Volume 25
of Certified Survey Maps on Pages 4, 5 and 6 as Document
No. 1527728, being a Certified Survey Map of Lot 1 of a
Certified Survey Map recorded in Volume 6, Pages 226 and
227, also Lot 1 of a Certified Survey Map as recorded in
Volume 10, Pages 443-445, being part of Lots 86 and 87 of
Smith Bailey's Addition, part of Lot 179 of Smith, Bailey &
Stone's Addition, and all being located in the SW l/4 of the
NW l/4 and the NW l/4 of the NW l/4 of Section 36,
T.3N, R.12E., of the 4th P.M., City of Janesville, Rock
County, Wisconsin.
222 N. Academy Street, Janesville, WI
Tax Key No. 01361 00309
Parcel ID No. 241 0136100309
PARCELB:
Lot Two (2) of a Certified Survey Map recorded in Volume
11 of Certified Survey Maps, on Pages 264 and 265, as
Document No. 972925, City of Janesville, Rock County,
Wisconsin, more particularly described as follows:
Beginning at the Southwest corner of said Lot 2; thence
280.52 feet along the arc of a curve to the right having a
radius of 275.00 feet and a long chord subtended bearing N
40 degrees 50' 25" E, 268.52 feet; thence N 70 degrees 06'
17" E, 169.18 feet; thence S 15 degrees 34' 37" E, 271.17
feet; thence N89 degrees 55' 50" W, 407.50 feet to the point
of beginning.
1310 Plainfield Avenue, Janesville, WI
Tax Key No. 02184 00312
Parcel ID No. 241 0218400312
PARCELC:
Lot One ( 1) of Certified Survey Map No. 3886 as recorded in
Volume 15 of Certified Survey Maps of Green County on
Pages 107 through 109 being recorded in the office of the
Register of Deeds for Green County, Wisconsin.
2410 1st Center Avenue, Brodhead, WI
Tax Parcel No. 23-206-2324.2000
PARCELD:
Lots One (1), Two (2), Three (3), Four (4), Five (5), Six (6),
Seven (7), Eight (8) and Nine (9) of Block Nine (9), Central
Subdivision; Together with the East l/2 of the vacated alley
abutting said Lots One (1), Two (2), Three (3), Four (4), Five
(5), Six (6), Seven (7), Eight (8), and Nine (9) of Block Nine
(9), all located in part of the Northeast l/4 of the Northeast
l/4 of Section 7, T17N, R6E, City of Adams, Adams County,
Wisconsin, being more particularly described as follows:
Beginning at the Northeast corner of said Block 9; thence
along the West right of way line of Oak Street S0101'26" E,
223.60 feet to the Southeast corner of said Lot 9; thence
along the South line of said Lot 9 S8956' 18" W, 135.50 feet
to the center line of said vacated alley; thence along said
center line N0057' 18" W, 223.69 feet to the South right of
way line of Lincoln Street; thence along said south line
N8958' 36" E, 135.23 feet to the point of beginning.
225 West Lincoln Street, Adams, WI
Tax Parcel No. 201-118
PARCEL E:
Lot One ( l), but not including Outlot One ( 1), of Volume 7
of Certified Survey Maps, Pages 224, Map No. 481, as
recorded in the office of the Register of Deeds for Vernon
County, Wisconsin on October 11, 2004 as Document No.
418349, being a part of Lot 6 of Certified Survey Map No.
92 as recorded in Volume 4, page 205, and part of the SW
l/4 of the NE l/4, part of the SE 1/4 of the NE l/4, part of
the NW 1/4 of the SE l/4, part of the NE 1/4 of the SE l/4,
all being in Section 28, Town 14 North, Range 4 West, City
of Westby, Vernon County, Wisconsin, described as follows:
Commencing at the North Quarter (N 1/4) corner of said
Section 28; thence S 88 degrees 55 minutes 31 seconds E
1328.40 feet along the North line of the NE 1/4 to the East
line of the NW l/4 of the NE 1/4; thence S 00 degrees 06
minutes 48 seconds W, along said line 2429.73 feet to the
place of beginning; thence continuing S 00 degrees 06
minutes 48 seconds W, 203.70 feet; thence S 89 degrees 53
minutes 12 seconds E, 112.28 feet to the curving
Northwesterly right-of-way line of State Trunk Highway 27;
thence Southwesterly 40.31 feet along a curve to the left,
having a radius of 1277.77 feet, the chord bearing S 45
degrees 03 minutes 27 seconds W, 40.31 feet; thence
continuing along said right-of-way S 45 degrees 39 minutes
38 seconds W, 156.68 feet to the Northeasterly right-of-way
line of Swiggum Street; thence N 44 degrees 23 minutes 46
seconds W, along said line 251.45 feet; thence N 51 degrees
35 minutes 33 seconds E, 261.13 feet.
98 Swiggum Street, Westby, Wisconsin
Tax Parcel No. 291-00573-0014
PARCELF:
A parcel of land being part of Lot Three (3) of Certified
Survey Map No. 1819 as recorded in Volume 13 of Certified
Survey Maps on Page 27, located in the Northeast l/4 of the
Southeast l/4, Section 9, Township 17 North, Range 20 East,
City of New Holstein, Calumet County, Wisconsin, bounded
and described as follows:
Commencing at the most Southerly Corner of Lot 3 of said
Certified Survey Map No. 1819; thence N4304'53" E,
409.84 feet along the Southeasterly line of said Lot 3 to the
point of beginning; thence N4655'07" W, 148.95 feet along
said Northeasterly line; thence N0343'13" W, 36.89 feet;
thence N4304'53" E, 224.75 feet to a point on the
Southwesterly Right-of-Way line of S.T.H. "57"; thence
S4655'07" E, 175.84 feet along said Southwesterly Right-ofWay line to the Southeasterly line of said Lot 3; thence
S4304'53" W, 250.00 feet along said Southeasterly line to
the point of beginning.
Together with all rights, privileges and benefits as set forth
more specifically in the Declaration of Reciprocal Easement
recorded in the office of the Register of Deeds of Calumet
County, on January 30, 2006 as Document No. 401356.
2241 Calumet Drive, New Holstein, WI
Tax Parcel No. 261-0202-00L0300-000-0-172009-00-410D
4. The above-described real estate be sold at separate public auctions in each of
the respective counties, by or under the direction of the sheriff for each respective county
(or his or her designee) at any time six (6) months after the date of entry of this
judgment, unless previous to such sale, (a) said premises and judgment shall be redeemed
in a manner provided by law, by the payment of the amount of such lien, together with
attorneys' fees, costs, and interest thereon, at the rate provided by law, and any costs,
expenses, or attorneys' fees incurred herein, plus any additions to such items including by
reason of taxes or insurance premiums paid; or (b) this court shall direct otherwise, the
sheriffs of the respective counties shall conduct the sales in the same manner as those
conducted in state court actions.
5. For the sales pursuant hereto, said sheriffs shall give public notice of the time
and place of such sales in a manner provided by law, and that publication of such notices
be made in their respective newspapers of record in the respective counties.
6. Any of the parties to this action may purchase the offered properties at such
sales, and the sheriffs shall file with the Clerk of this Court a report of such sales, and
shall also or immediately after said sales deposit with the Clerk any proceeds thereof,
(after deducting the costs and expenses of said sales, unless otherwise ordered by the
Court); that the purchaser, other than Plaintiff, shall, at the time of sale, deposit with the
sheriff ten percent ( 10%) of the purchase price in cash or certified check which shall not
be refunded to the purchaser unless the sale is not confirmed through no fault of the
purchaser, and the balance of the purchase price shall be paid within ten (10) days of
confirmation of sale by said purchaser to Plaintiff, or otherwise the deposit shall be
forfeited; and except that if Plaintiff be the successful bidder at such sale, the sheriff may
take the receipt of the Plaintiff in lieu of any cash payments; that the sheriff, upon
compliance on the part of the purchaser with the terms of such sale as required by law,
shall make and execute to said purchaser a deed to the premises so sold, as hereinafter
described, stating the price paid therefore, and shall forthwith deliver such deed to the
Clerk of this Court to be held by said Clerk until the confirmation of said sale; that upon
confirmation thereof, the Clerk shall deliver said deed to said purchaser upon compliance
by said purchaser with the terms of such sale, and the payment of any balance of the sale
price to be paid, the Clerk shall thereupon pay to the Plaintiff, or its attorneys, from the
proceeds of such sale, the sum of $5,307,882.12, along with interest on the sums at the
rate provided by law from the date hereof and any additions thereto, or so much thereof
as the monies derived from the sale and said premises will pay the same and take receipts
therefore; that the surplus money, if any, shall be subject to the further order of the
Court.
7. Judgment for a deficiency against the defendant Esquire Development LLC is
reserved by Plaintiff. The amount of the deficiency shall be calculated as the difference
between the amount due on the promissory note and the sale prices confirmed by the
Court.
8. Upon confirmation of the sales of the mortgaged premises, said purchasers, or
his or their heirs, representatives, or assigns, be let into possession of the premises sold,
upon production of the sheriffs deed thereto or a duly authenticated copy thereof, that
every and each of the parties to this action who may be in possession of the premises,
and every other person who, since the filing of the notice of the pendency of this action,
has come into possession of the same or any part thereof under them or either of them,
shall deliver to such grantee or grantees named in said deed, possession of the mortgaged
premises, and that a writ of assistance be issued if necessary to secure such possession.
9. Defendant Esquire Development, and its successors, assigns, and all persons
claiming under it after the filing of the notice of the pendency of this action, be forever
barred and foreclosed of all right, title, interest, and equity of redemption in said
mortgaged premises, except the right to redeem the same before a sale as provided by law.
10. Plaintiff may pay the taxes on the mortgaged premises or insurance premiums
accruing against same, or that the court appointed receiver may do the same, and that in
the event that any payments be made, the Plaintiff may obtain further order from the
Court directing that the amount so paid with interest be likewise paid from the proceeds
of the sale or redemption of said mortgaged premises.
11. Defendant Esquire Development and all other persons are here enjoined from
committing waste upon said mortgaged premises and from doing any other act that may
impair the value of the same, unless, meanwhile, said premises have been duly redeemed
as by then provided by law.
Dated this 15th day of January, 2013.
BY THE COURT:
Is/
WILLIAM M. CONLEY
District Judge
Entered this
I1JJ,.. day ofJanuary, 2013.
'Hi-~ CJ~ e.~
'
Peter Oppeneer, Clerk of Court
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