Promissory Note / Payment Stream Bearing Variable Interest Rate Per Annum in the Original Principal Amount of $272,335.83! (Price Reduced!)

Auction Ended

Item condition: New

Category:

Description

Item Id: Furrh01
Case Name: Furrh, Eddie K
Case Number: 17 41138
Trustee:
Starting Minimum Bid: $115,000

Description: Estate’s 100% interest in a Promissory Note bearing a variable interest rate per annum. Interest rate from 5/28/2016 at the rate of prime published by the Wall Street Journal information per annum:

One (1) promissory note with nine (9) annual payments of principal in the annual amount of $30,259.54. Payments are due each and every year by April 30th beginning in 2017.

The 2017 payment was made, on time, plus an interest payment of $9,558.99. The Trustee has also received 2018 payment in the amount of $30,259.54. Next payment deadline is April 30, 2019.

The Promissory Note was signed between the debtor and Basin Western, Inc (of Roosevelt, Utah) in return of 150 shares of common stock assigned back to Western Basin by the debtor

As of June 2018, the balance remaining to be paid on the Note will be $207,996.80 plus variable interest as stated above. The Trustee has been servicing the Note

Stock Assignment: See Link Below-
Assignment of Stock

Promissory Note See Link Below-
Promissory Note executed

Payout History: See Links Below, and Updated Link 7/1/18

Furrh 17-41137 (BROWN) payment report

Updated Payments June 2018

Notes: A closing cost fee of $250 will apply. This is all we know about this item. Any fees/liens owing on this item are not part of the final bid price. A bid submitted by a buyer is an agreement to our Terms. Buyers should not bid unless they fully intend to complete the sale in accordance with our Terms (to view terms, click “Terms” tab in Seller Store header at top of ad).

Bidders should familiarize themselves with BKAssets.com policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on bkassets.com Home Screen). BKAssets is not responsible for connectivity issues, or Internet transmission times, when submitting an auction bid near the close of auction. The auction process does not extend past the set close time of the auction and bidders are solely responsible for the timing and receipt of their bids if they elect not to utilize Proxy bidding.

Legal Info: By Order of the United States Bankruptcy Court, BKAssets.com sells this and any other property / note “AS IS, WHERE IS”, with no warranties implied or stated. This means that the Seller and the trustee are not responsible for problems (if any) with the title, the condition of the property, or any liens or encumbrances against the unit. The buyer will be entirely responsible for this note after the sale including but not limited to: paying any fees/costs associated with this note, paying all fees/liens (if any), recording/transferring the assignment and gathering any paperwork/documentation necessary for that process. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with an Assignment of the Promissory Note and contact information for the Payor. All the information as to the item description has been provided by the trustee and debtor attorney indicated above. BKAssets cannot guarantee that all the information is accurate. BKAssets recommends all bidders perform their own due diligence prior to bidding. As with any bankruptcy sale, this sale may be subject to court approval.

Payment Info: $U.S. Money order, certified check, cashier’s check. BKAssets may also accept “Bill Pay” from Citibank, Wells Fargo, Bank of America, Chase or a local regional bank or Credit Union. If you would like to use “Bill Pay,” but do not bank at one of these establishments, please call BKAssets prior to sending payment.

A closing cost fee of $250 (payable to seller) will apply. Full payment must be received within (7) days of winning bid. Any bidder who does not complete the sale within 7 days from the close of auction will be considered in default. Seller has the right to proceed with the next highest bidder.

Shipping Info: Shipping is free to all buyers in the United States. International bidders are welcome, please contact BKAssets for shipping costs to countries other than the United States prior to bidding. Shipping costs to locations outside of the US will be calculated at the close of auction. Please be advised that because this is a US Bankruptcy Court Ordered sale, and subject to approval, shipping can take an average of 3-6 weeks.

Liens: We are not aware of any liens

Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an offer..

Auction History

Auction has finished

Auction failed because there were no bids
June 18, 2018 4:12 pmAuction started