Daily Legal News - Public Sales Notices
COURT ORDERED REAL ESTATE AUCTION
COLUMBIA PARK MOBILE HOME PARK, COLUMBIA SHOPS & BROOK PARK MOBILE HOME PARK, CUYAHOGA COUNTY
Multipurpose Room on 1st Floor of Justice Center, 1200 Ontario Street, Cleveland, Ohio 44113
TUESDAY, MARCH 10, 2020
(1) Columbia Park Mobile Home Park, 7100 Columbia Road, Olmsted Township, Ohio 44138; Parcel No. 262-11-001, including a waste water treatment plant located thereon ("Columbia Property"); (2) Columbia Shops, 7060-7096 Columbia Road, Olmsted Township, Ohio 44138; Parcel No. 262-14-050; and (3) Brook Park Mobile Home Park, 11800 Brookpark Road, Cleveland, Ohio 44130; Parcel No. 020-23-003 (the "Property"). A complete copy of the legal description of the Property is on file at the Cuyahoga County Recorder's Office.
Pursuant to an Agreed Order Approving Sale of the Receivership Property entered on January 10, 2020 (the "Sale Order") in Cuyahoga County Common Pleas Court, Case No. CV-17-880316 the Property shall be sold by M. Shapiro Real Estate Group Ohio LLC ("Receiver"), as receiver on behalf of Columbia Park East MHP LLC and Columbia Far West Investors, LLC in accordance with the terms of the Sale Order.
METHOD OF SALE:
The property will be sold together to the highest bidder. The minimum bid is $67,000,000.00. Bids at the auction shall be in increments of $100,000.00.
Potential bidders are required to execute the Confidentiality and Non-Disclosure Agreement, attached as Exhibit ‘2,' to the Sale Order. Inspections of the property shall take place prior to the auction through coordination with the Receiver and as permitted by the Sale Order. Potential Bidders shall not contact any residential or commercial tenant without written approval from the Receiver. Entry on the Property is at your own risk. The Property is sold "as is, where is" with no representations and warranties of any kind. Upgrades to the waste water treatment plant on the Columbia Property will be required by the buyer.
Deposit requirements, deadlines and other requirements are set forth in the Sale Order and/or the purchase agreement, attached to the Sale Order as Exhibit ‘4.' The purchase agreement must be executed within 3 business days after the auction.
Should the Property require a new survey for transfer, this will be done at the buyer's expense.
The seller will provide a Receiver's Deed.
Jeanna M. Weaver, Receiver's Attorney