On Sale Soon: Promissory Note Bearing a 5% Interest Rate Per Annum Secured by Two Real Properties in the Original Principal Amount of $106,240.00 !

Item Id: Lightle01
Case Name: Lightle, Jack Boy & Lightle, Connie DeLane
Case Number: 14 12615
Trustee:
Starting Minimum Bid: $42,900

Description: Estate’s 100% interest in a Secured Promissory Note bearing a 5.00% interest rate per annum. Further information about the note:

One (1) promissory note secured by two (2) parcels of land located near Maricopa, Pinal County, Arizona. The Amended and Restated Note originated in January 2017 and the entire balance is due and payable on or by January 2023. Payments on the Note have been fairly consistent, in varying dollar amounts but are currently 4-5 months in arrears.

As of February 2018, the balance remaining to be paid on the Note was $92,392.86 plus any arrearages.

The Note requires monthly payments in the amount of $600.00 with all unpaid interest principal and accrued interest due and payable on or before 1/15/2023

The Estate has been receiving principal and interest payments since the filing to benefit creditors. The Trustee has been servicing the Note

Payment history to be provided shortly and will be linked once the auction commences.

Location Info: The parcels are located near Maricopa in Pinal County, Arizona. Parcel number/Map Number is:

501-13-028F

The property is located at 52413 West Caravan Lane, Maricopa, AZ 85139. The second parcel is:

501-13-028J

The 2nd property also includes a Deed of Trust and Assignment of Rents for 52471 West Caravan Lane, Maricopa, AZ 85139. There is a 1998 Sandalwood Fleetwood Mobile Home attached which appears to be occupied.

Past and current payments from the Note have been made directly to the Bankruptcy Estate. Once the promissory note is sold and after the highest bid amount has been paid by certified funds to BKassets.com, any future payments will be redirected to the new owner of the note. There shall be no claim by the buyer to any prior payments received by the Trustee in any circumstance.

Amended Note:
Executed Restated Note

Liens: We are not aware of any other liens

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