NOTICE OF FORECLOSURE SALE GALVESTON COUNTY, TEXAS
EXHIBIT
10.81
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STATE
OF TEXAS
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§
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§
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COUNTY
OF GALVESTON
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§
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NOTICE
OF FORECLOSURE SALE
GALVESTON
COUNTY, TEXAS
Date:
June
5th,
2008
Deed
of Trust, Mortgage, Assignment, Security Agreement, Fixture Filing and Financing
Statement (“Deed
of Trust”):
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Dated:
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May
11, 2007
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Grantor:
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Tekoil
and Gas Gulf Coast, LLC, a Texas limited liability
company
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Trustee:
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Xxxx
Xxxxx
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Lender:
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X.
Xxxx & Company
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Recorded
in:
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The
office of the County Clerk of Galveston County, Texas on May 14,
2003 as
Document #2007031217 of the Official Public Records.
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Secures:
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Promissory
Note (“Note”)
dated May 11, 2007, in the original principal amount of $50,000,000.00,
executed by Xxxxxxx and payable to the order of Lender, and all other
indebtedness of Grantor to Lender as described in the Deed of
Trust
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Property:
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The
real property, improvements and personal property described in the
attached Exhibit
A,
that is attached hereto and made a part hereof.
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Trustee’s
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Xxxxxx
and Xxxxx, LLP
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Address:
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One
Houston Center
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0000
XxXxxxxx, Xxxxx 0000
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Houston,
Texas 77010
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Foreclosure
Sale:
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Date:
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Tuesday,
July 1, 2008
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Time:
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The
sale of the Property (“Foreclosure
Sale”)
will take place between the hours of 10:00 a.m. and 4:00 p.m. local
time;
the earliest time at which the Foreclosure Sale will begin is 10:00
a.m.
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Place:
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Galveston
County Courthouse in Galveston, Texas, in the area designated by
the
County Commissioners’ Court
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Terms
of Sale:
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The
Foreclosure Sale will be conducted as a public auction and the Property
will be sold to the highest bidder for cash, except that Xxxxxx's
bid may
be by credit against the indebtedness secured by the lien of the
Deed of
Trust.
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Default
has occurred in the payment of the Note. Because of that default, Xxxxxx, the
owner and holder of the Note, has requested Trustee to sell the Property.
The
Deed
of Trust may encumber both real and personal property. Formal notice is hereby
given of Xxxxxx's election to proceed against and sell both the real property
and any personal property described in the Deed of Trust in accordance with
the
Lender's rights and remedies under the Deed of Trust and the Texas Business
and
Commerce Code.
Therefore,
notice is given that on and at the Date, Time and Place of sale described above,
Trustee will sell the Property by public sale to the highest bidder for cash
in
accordance with the Deed of Trust.
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/s/
Xxxx Xxxxx
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Xxxx
Xxxxx
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Trustee
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2
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THE
STATE OF TEXAS
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§
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§
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COUNTY
OF XXXXXX
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§
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This
instrument was acknowledged before me on this 5th
day of
June, 2008, by Xxxx Xxxxx, Trustee.
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/s/ Xxxxxxx X. Xxxxxx
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Notary
Public, State of Texas
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XXXXXXX
X. XXXXXX
Notary
Public, State of Texas
My
Commission Expires
November
15, 2009
Exhibit
A: Property Description
AFTER
RECORDING, RETURN TO:
Xxxxxx
and Xxxxx, LLP
0000
XxXxxxxx, Xxxxx 0000
One
Houston Center
Houston,
Texas 77010
Attn:
Xxxxx Xxxxxx
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