Combined Notice of Sale, Right to Cure and Right to Redeem, No. 10-OSP | SteamboatToday.com
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Combined Notice of Sale, Right to Cure and Right to Redeem, No. 10-OSP

COMBINED NOTICE OF SALE, RIGHT TO CURE, AND RIGHT TO REDEEM Public Trustee Sale No. 10-OSP This Combined Notice concerns the Deed of Trust, Security Agreement, Financing Statement, and Fixture Filing dated October 23, 2007, recorded October 25, 2007 in Routt County, Colorado, under Reception No. 665873, amended by that certain First Amendment to Deed of Trust, Security Agreement, Financing Statement, and Fixture Filing dated and recorded November 19, 2009 under Reception No. 693448 (as amended, the “Deed of Trust”), granted by SV Timbers Steamboat, LLC, a Delaware limited liability company, who is the original grantor (“Grantor”) of the Deed of Trust and the current owner (“Owner”) of the Property encumbered thereby, which is described below (the “Property”).

The Deed of Trust secures seven (7) promissory notes that together evidence debt in the original principal amount of the $165,000,000.00 (the “Debt”).

The total unpaid principal balance of the Debt as of the date of the Notice of Election and Demand for Sale (Second Amended) is $99,766,992.56. The holders of the Debt are WestLB AG, a German banking corporation acting through its New York branch (“WestLB AG”), CoBiz Bank, a Colorado corporation doing business as Colorado Business Bank (“CoBiz Bank”), TD Bank, N.A., a National Association doing business in the State of Connecticut, formally known as TD Banknorth, N.A. (“TD Bank”), Royal Bank America, a Pennsylvania corporation (“RBA”); Mercantile Bank, an Illinois corporation formerly known as Mercantile Savings & Trust Bank (“Mercantile Bank”); Alpine Bank, a Colorado banking corporation (“Alpine Bank”); and ALBA LOANCO III-A, LLC, a Delaware limited liability company (“ALBA”) who is the successor to Associated Bank, N.A. and Morgan Stanley Senior Funding, Inc.



Together, WestLB, CoBiz, TD Bank, RBA, Mercantile Bank, Alpine Bank, and ALBA are the Holders of the Debt and are collectively referred to herein as the “Holders.” WestLB AG is the “Funding Administrative Agent” of the Holders under the loans secured by, among other things, the Deed of Trust and is the “Beneficiary” of the Deed of Trust. In its capacity as the Funding Administrative Agent, WestLB is authorized to undertake foreclosure proceedings on behalf of the Holders.

YOU ARE NOTIFIED AS FOLLOWS: A foreclosure proceeding was commenced in the office of the undersigned Public Trustee to foreclose the lien of the above-described Deed of Trust. The legal description of the Property that is the subject of this Combined Notice in accordance with §38-38-101(1)©, C.R.S. which is set forth below as Exhibit A. The Property includes the unreleased units set forth in the legal description, which are within the condominium complex located at 2250; Après Ski Way, Steamboat Springs, Colorado, which is itself a development commonly known as One Steamboat Place.



The Property is all of the Property currently encumbered by the Deed of Trust. The covenant violations under the Debt or Deed of Trust or both on which this demand for foreclosure is based include, but are not limited to, the failure of the obligor thereunder to pay amounts due and owing when the Debt matured on October 25, 2010.

You may have an interest in the real property being foreclosed that may be affected by this foreclosure.

You may have the right to cure a default under the above-described Deed of Trust. You may have the right to redeem the real property being foreclosed.

The name, address, business telephone number and Colorado bar registration number of the attorneys representing WestLB, in its capacity as Funding Administrative Agent for the Holders, are as follows: Ronald Garfield, Reg. No. 7014, Matthew L. Trinidad, Reg. No. 38012, Garfield & Hecht, P.C., 601 E. Hyman Avenue, Aspen, CO 81611, Tel: (970) 925-1936.

THEREFORE, the undersigned Public Trustee will, at 10: 00 a.m., on the date of March 16, 2011, at the office of the Public Trustee, Routt County Courthouse, 522 Lincoln Avenue, Steamboat Springs, Colorado, 80477, sell the Property at public auction to the highest bidder who has submitted bid funds to the undersigned Public Trustee as specified by § 38-38-106(7), C.R.S. to pay the Debt and certain other sums, all as provided by applicable law and the Deed of Trust, and will deliver to the purchaser a certificate of purchase as provided by law.

THE LIEN OF THE DEED OF TRUST BEING FORECLOSED MAY NOT BE A FIRST LIEN.

THIS IS AN ATTEMPT TO COLLECT A DEBT AND ANY INFORMATION OBTAINED MAY BE USED FOR THAT PURPOSE.

Date: January 25, 2010; PUBLIC TRUSTEE, ROUTT COUNTY COLORADO /s/: Jeanne Whiddon By Jeanne Whiddon Public Trustee First Publication Date: January 30, 2011; Last Publication Date: February 27, 2011; EXHIBIT A LEGAL DESCRIPTION Units R-103, R-105, R-203, R-204, R-205, R-306, R-307, R-308, R-309, R-310, R-311, R-402, R-407, R-408, R-409, R-411, R-413, R-417, R-418, R-419, R-501, R-502, R-504, R-506, R-507, R-508, R-510, R-511, R-512, R-513, R-514, R-515 (formerly known as RC-515 by virtue of Reception No. 696357), R-516, R-517, R-518, R-601, R-603, R-604, R-605, R-606, R-607, R-608, R-609, R-610, R-611, R-613, R-615, R-616, R-701, R-702, R-703, R-704, R-707, R-708, R-709, R-710, R-711, R-801, R-802, R-803, Units C-111, C-112, C-211, C-310, C-311, C-312, C-313, C-314, C-315, C-316, Units E-1, E-2, E-3, E-4, E-5, Units RC-301, RC-302, RC-304, RC-305, RC-401, RC-403, RC-404, RC-405, RC-406, RC-410, RC-412, RC-414, RC-415, RC-416, RC-503 (formerly known as R-503 by virtue of Reception No. 698874), RC-505 (formerly known as R-505 by virtue of Reception No. 698874), RC-602 (formerly known as R-602 by virtue of Reception No. 698874), RC-612 (formerly known as R-612 by virtue of Reception No. 698874), RC-705 (formerly known as R-705 by virtue of Reception No.

696357), Unit DC-614 (formerly known as R-614 by virtue of Reception No. 698874), Management Unit, Summit Club Unit, together with any appurtenant undivided ownership interest in and to the Common Elements and Limited Common Elements, according to the Condominium Declaration for OSP Condominium at Après Ski Way, recorded November 16, 2009 at Reception No. 693284 and the Condominium Map recorded November 16, 2009 at Reception No.

693283 in the Office of the Clerk and Recorder of Routt County, Colorado.

LESS AND EXCEPT THE FOLLOWING UNITS: Units R-407, R-411, R-413, R-504, R-516, R-517, R-518, R-601, R-615, R-616, R-701, R-708, R-711, R-801, C-111, C-112, C-310, C-311, C-313 and C-315, according to the Condominium Declaration for OSP Condominium at Après Ski Way, recorded November 16, 2009 at Reception No. 693284 and the Condominium Map recorded November 16, 2009, at Reception No. 693283 and File No. 13959, and the Notice of Submission of Units recorded February 26, 2010 at Reception No. 696357 and May 10, 2010 at Reception No. 698874 in the office of the Clerk and Recorder of Routt County, Colorado.

Residence Club Interest RC-301-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-301, Residence Club Interest RC-301-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-301, Residence Club Interest RC-301-III consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-301, Residence Club Interest RC-301-IV consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-301, Residence Club Interest RC-301-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-301, Residence Club Interest RC-301-VI consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-301, Residence Club Interest RC-301-VII consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-301, Residence Club Interest RC-301-VIII consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-301, Residence Club Interest RC-302-III consisting of an undivided 1/12th interest as tenant-in common in Residence Club Unit RC-302, Residence Club Interest RC-302-IV consisting of an undivided 1/12th interest as tenant-in common in Residence Club Unit RC-302, Residence Club Interest RC-304-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-304, Residence Club Interest RC-304-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-304, Residence Club Interest RC-304-III consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-304, Residence Club Interest RC-304-IV consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-304, Residence Club Interest RC-304-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-304, Residence Club Interest RC-304-VI consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-304, Residence Club Interest RC-304-VII consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-304, Residence Club Interest RC-304-VIII consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-304, Residence Club Interest RC-305-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-305, Residence Club Interest RC-305-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-305, Residence Club Interest RC-305-III consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-305, Residence Club Interest RC-305-IV consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-305, Residence Club Interest RC-305-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-305, Residence Club Interest RC-305-VIII consisting of an undivided 1/8th interest as tenant-in common in Residence Club Unit RC-305, Residence Club Interest RC-401-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-401, Residence Club Interest RC-401-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-401, Residence Club Interest RC-401-III consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-401, Residence Club Interest RC-401-IV consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-401, Residence Club Interest RC-401-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-401, Residence Club Interest RC-401-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-401, Residence Club Interest RC-401-VII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-401, Residence Club Interest RC-401-VIII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-401, Residence Club Interest RC-403-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-403, Residence Club Interest RC-403-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-403, Residence Club Interest RC-403-III consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-403, Residence Club Interest RC-403-IV consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-403, Residence Club Interest RC-403-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-403, Residence Club Interest RC-403-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-403, Residence Club Interest RC-403-VII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-403, Residence Club Interest RC-403-VIII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-403, Residence Club Interest RC-404-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-404, Residence Club Interest RC-404-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-404, Residence Club Interest RC-404-III consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-404, Residence Club Interest RC-404-IV consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-404, Residence Club Interest RC-404-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-404, Residence Club Interest RC-404-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-404, Residence Club Interest RC-404-VII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-404, Residence Club Interest RC-404-VIII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-404, Residence Club Interest RC-405-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-405, Residence Club Interest RC-405-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-405, Residence Club Interest RC-405-III consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-405, Residence Club Interest RC-405-IV consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-405, Residence Club Interest RC-405-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-405, Residence Club Interest RC-405-VII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-405, Residence Club Interest RC-405-VIII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-405, Residence Club Interest RC-406-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-406, Residence Club Interest RC-406-III consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-406, Residence Club Interest RC-406-IV consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-406, Residence Club Interest RC-406-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-406, Residence Club Interest RC-406-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-406, Residence Club Interest RC-406-VIII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-406, Residence Club Interest RC-410-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-410, Residence Club Interest RC-410-III consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-410, Residence Club Interest RC-410-IV consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-410, Residence Club Interest RC-410-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-410, Residence Club Interest RC-412-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-412, Residence Club Interest RC-412-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-412, Residence Club Interest RC-414-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-414, Residence Club Interest RC-414-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-414, Residence Club Interest RC-414-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-414, Residence Club Interest RC-414-VIII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-414, Residence Club Interest RC-415-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-415, Residence Club Interest RC-416-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-416, Residence Club Interest RC-416-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-416, Residence Club Interest RC-416-III consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-416, Residence Club Interest RC-416-IV consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-416, Residence Club Interest RC-416-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-416, Residence Club Interest RC-416-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-416, Residence Club Interest RC-416-VII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-416, Residence Club Interest RC-416-VIII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-416, Residence Club Interest DC-614-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit DC-614, (formerly known as R-614-I), Residence Club Interest DC-614-II consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit DC-614, (formerly known as R-614-II), Residence Club Interest DC-614-III consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit DC-614, (formerly known as R-614-III), Residence Club Interest DC-614-IV consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit DC-614, (formerly known as R-614-IV), Residence Club Interest DC-614-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit DC-614, (formerly known as R-614-V), Residence Club Interest DC-614-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit DC-614, (formerly known as R-614-VI), Residence Club Interest DC-614-VII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit DC-614, (formerly known as R-614-VII), Residence Club Interest DC-614-VIII consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit DC-614, (formerly known as R-614-VIII), Residence Club Interest RC-705-I consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-705, (formerly known as R-705-I), Residence Club Interest RC-705-III consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-705, (formerly known as R-705-III), Residence Club Interest RC-705-IV consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-705, (formerly known as R-705-IV), Residence Club Interest RC-705-V consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-705, (formerly known as R-705-V), Residence Club Interest RC-705-VI consisting of an undivided 1/8th interest as tenant-in-common in Residence Club Unit RC-705, (formerly known as R-705-VI), according to the Condominium Declaration for OSP Condominium at Après Ski Way, recorded November 16, 2009 at Reception No. 693284 and the Condominium Map recorded November 16, 2009, at Reception No. 693283 and File No. 13959, and the Notice of Submission of Units recorded February 26, 2010 at Reception No. 696357 and May 10, 2010 at Reception No. 698874 in the office of the Clerk and Recorder of Routt County, Colorado., together with the exclusive right to possession and occupancy of a Residence Club Unit during the time reserved by the Owner of the Residence Club Interest pursuant to the Reservation Procedures.

County of Routt State of Colorado


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