NOTICE OF FORECLOSURE SALE GALVESTON COUNTY, TEXAS

 

STATE OF TEXAS	§
	§
COUNTY OF GALVESTON	§

 

 

Date:  June 5^th, 2008

Deed of Trust, Mortgage, Assignment, Security Agreement, Fixture Filing and Financing Statement (“Deed of Trust”):

 

Dated:	May 11, 2007
Grantor:	Tekoil and Gas Gulf Coast, LLC, a Texas limited liability company
Trustee:	John Howie
Lender:	J. Aron & Company
Recorded in:	The office of the County Clerk of Galveston County, Texas on May 14, 2003 as Document #2007031217 of the Official Public Records.
Secures:	Promissory Note (“Note”) dated May 11, 2007, in the original principal amount of $50,000,000.00, executed by Grantor and payable to the order of Lender, and all other indebtedness of Grantor to Lender as described in the Deed of Trust
Property:	The real property, improvements and personal property described in the attached Exhibit A, that is attached hereto and made a part hereof.
Trustee’s	Haynes and Boone, LLP
Address:	One Houston Center
	1221 McKinney, Suite 2100
	Houston, Texas 77010

 

 

Foreclosure Sale:

Date:	Tuesday, July 1, 2008
Time:	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.
Place:	Galveston County Courthouse in Galveston, Texas, in the area designated by the County Commissioners’ Court
Terms of Sale:	The Foreclosure Sale will be conducted as a public auction and the Property will be sold to the highest bidder for cash, except that Lender's bid may be by credit against the indebtedness secured by the lien of the Deed of Trust.

Default has occurred in the payment of the Note. Because of that default, Lender, 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 Lender'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.

 

/s/ John Howie

John Howie

Trustee

 

THE STATE OF TEXAS	§
	§
COUNTY OF HARRIS	§

This instrument was acknowledged before me on this 5^th day of June, 2008, by John Howie, Trustee.

(SEAL)	/s/ Maureen E. Meyers
	Notary Public, State of Texas

MAUREEN E. MEYERS

Notary Public, State of Texas

My Commission Expires

November 15, 2009    

AFTER RECORDING, RETURN TO:

Haynes and Boone, LLP

1221 McKinney, Suite 2100

One Houston Center

Houston, Texas 77010

Attn: Randy Browne