tranzon | real estate auctions - disney area hotel 4970 kyngs heath rd., kissimmee… ·...

Disney Area Hotel 4970 Kyngs Heath Rd., Kissimmee, FL 34746

Previews: March 15 & 22, 2017 at 11 am ET Auction: March 29, 2017 at 3:30 pm ET Auction Location: US Bankruptcy Court, 801 N Florida Ave., Tampa, FL 33602 Courtroom 8A Property No.: DG956 Case No.: 8:16-bk-07190-MGW

Tranzon Driggers Walter J. Driggers, III, Lic. Real Estate Broker FL Lic# AU707 & AB3145

P: 877-374-4437 F: 352-369-9295 [email protected]

DG956Property Summary

4970 Kyngs Heath Rd.Kissimmee, FL 34746

Buyer’s Premium:Deposit:

You are urged to thoroughly inspect the property before the auction!

The information contained in this property overview is subject to inspection and verification by all parties relying on it. The Seller andtheir agents assume no liability for the accuracy, error or omissions. This listing may be withdrawn or modified without notice at any

time. All square footage, lot size measurements and dimensions in this information are approximate. No warranties or guarantees areexpressed or implied. The purchaser must rely on his/her own information, inspection, records and determination to bid.

The property is being sold “as is, where is” with “all faults.”

Title/Escrow Agent: McIntyre Thanasides Bringgold Elliott Grimaldi & Guito, P.A.

Terms of Sale:

N/A

On or before Closing Date:

PropertyDescription

• 1.9± acres, Rodeway Inn current flag

This property is in the intensive tourist district on Hwy. 192 by Disney, Celebration and allthe major theme parks. The property needs some TLC but the upside potential is obvious.

Bankruptcy Case # 8:16-bk-07190-MGW Tampa Div.

Land Size 1.94± acFrontage

Zoning PDLand Use Commercial Tourist

Building Size 33,000± sfConfiguration N/A

Tax 3 yrs due $156,683.54±

US Bankruptcy Court801 N Florida Ave, Tampa, FL

33602Courtroom 8A

Auction:Location:

Preview:

Year Built 1989±Assn None

Assoc. Fee N/AWater Central - ExistingSewer Central - ExistingTax ID

County Osceola

3/29/2017 at 3:30 pm ET

March 15 at 11 am ET, March 22at 11 am ET

02-25-28-3595-0001-00C0

Location, Location, Location!4 mi. to Disney, 7 mi. SeaWorld, 20 mi. to Orlando Airport89 total rooms, 12 suites, 64 doubles, 13 kings

•••

Disney Area Hotel, Kissimmee, FL

$100,000 wire transfer sent to Tranzon Driggers Escrow Account

Monday, May 1, 2017

Kyngs Heath Rd

For additional information please call:Walt Driggers

877-374-4437 or 352-369-1047Tranzon Driggers, Walter J Driggers, Lic. Real Estate Broker, agent for the seller #AU707 & AB3145

Independently owned and operated • a member company of Tranzon LLCwww.tranzon.com

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Notice to Bidders The information included is a summary of information available from a number of sources, much of which has not been independently verified. The sources from which the information was gathered are believed to be reliable; however, all information contained within this package is subject to verification by all parties relying on it. No representations or warranties, expressed or implied, as to the accuracy or completeness of the information in this and other advertising materials shall be deemed made, and no legal commitment or obligation shall arise, by reason of this package or its contents. This summary has been provided only for the use of prospective bidders. Buyer must rely on his/her own information, inspection, review of public records and own determination to bid, consulting whatever advisors he/she may feel appropriate. The property described is being sold in "as-is, where is, with all faults" condition. Neither Tranzon Driggers, the Seller, nor their respective agents make any express or implied warranties of any kind. This listing may be withdrawn and/or modified without notice at any time. Tranzon Driggers is acting as agent of the seller. Tranzon Driggers is a member company of Tranzon, L.L.C. and is independently owned and operated.

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DG956 Locator Maps

Orlando International Airport ->

Disney World

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DG956 Aerial Photographs

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DG956 Photos

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2/14/2017 11:15:02 AM

Katrina S. Scarborough, CFA, CCF, MCFOsceola County Property Appraiser

www.property-appraiser.orgOsceola County Government Center

2505 East Irlo Bronson Memorial Hwy, Kissimmee, FL 34744Ph: (407) 742-5000 Fax:( 407) 742-4900

Parcel: 02-25-28-3595-0001-00C0Owner InformationOwner Name NAMAL ENTERPRISES LLC

Mailing Address 4970 KYNGS HEATH RDKISSIMMEE, FL 34746

Physical Address 4970 KYNGS HEATH RD, KISSIMMEE FL 34746Description HOTELS & MOTELS-IMPTax District 300 - OSCEOLA COUNTY

Tax ValuesCurrent Values Certified ValuesCurrent Value represents working appraised values as of02/10/2017, which are subject to change prior to certification

Certified Value represents certified values that appeared onthe tax roll as of 10/04/2016

Land $388,700 Land $388,700AG Benefit $0 AG Benefit $0Extra Features $33,900 Extra Features $34,100Buildings $1,827,800 Buildings $1,846,000Appraised(just) $1,635,700 Appraised(just) $1,635,400Assessed(estimated) $1,635,700 Assessed* $1,635,400Exemption(estimated) $0 Exemption $0Taxable(estimated) $1,635,700 Taxable $1,635,400* Assessed Values Reflect Adjustments for AgriculturalClassification and/or the Save Our Homes Cap

* Assessed Values Reflect Adjustments for AgriculturalClassification and/or the Save Our Homes Cap

Sales InformationSeq ORB-Pg Price Date Deed Type0 3772-0637 $2,800,000 2008-11-25 WD1 2021-1796 $3,950,000 2002-02-28 WD2 1601-1379 $3,460,000 1999-03-30 SW3 0946-2406 $0 1989-03-01 CD4 0918-0352 $500,000 1989-03-01 WD

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Land Information - Total Acreage: 1.94Land Description Units Depth Land Type Land ValueCOMMERCIAL SF 84506.40 0.00 SF $388,700

Extra FeaturesExtra Feature Units Year Built Feature ValueCOMMERCIAL-SWIMMING POOL(IN GROUND ONLY) BELOWAVE

800 1989 $9,600

COMMERCIAL-POOL DECK AVERAGE 2192 1989 $3,156COMMERCIAL-CHAIN LINK FENCE-10 FT HIGH GOOD 306 1989 $1,224COMMERCIAL-ASPHALT PAVEMENT AVERAGE 30000 1989 $17,550COMMERCIAL-SPA/HOT TUB-IN GROUND AVERAGE 64 1989 $2,304

Building InformationBuilding 1Description MOTEL COM BedroomsYear Built 1989 BathroomsValue $1,827,800 Fixtures 309Actual Area 45819 Roof Cover 4 COMPOSITE SHINGLEHeated Area 33000 Exterior Wall (1.00) 7 FRAME STUCCOBuilding 1 subareaDescription Code Year Built Total Sketched AreaOPEN PORCH FINISHED OPF 1989 14942BASE AREA BAS 1989 16500OPEN PORCH FINISHED OPF 1989 14942OPEN PORCH FINISHED OPF 1989 -5500OPEN PORCH FINISHED OPF 1989 14942OPEN PORCH FINISHED OPF 1989 -5500OPEN PORCH FINISHED OPF 1989 -5500OPEN PORCH FINISHED OPF 1989 -5500BASE AREA BAS 1989 16500OPEN PORCH FINISHED OPF 1989 -5500OPEN PORCH FINISHED OPF 1989 -5500UTILITY FINISHED UTF 1989 213OPEN PORCH FINISHED OPF 1989 360OPEN PORCH FINISHED OPF 1989 420

Legal DescriptionLegal Description KYNGS HEATH III PHASE III PB 5 PG 2 TRACT C AKA RED ROOF INN

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Building 1 Property Photo

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Building 1 Sketch

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DG956 Plat

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ORD 12-28 Adopted 10-15-2012; ORD 13-02 Adopted 02-18-2013 ORD 13-34 Adopted 09-16-2013; ORD 13-71 Adopted 11-18-2013; ORD 13-78

Adopted 11-18-2013; ORD 14-25 Adopted 03-10-2014; ORD 14-174 Adopted 12-15-2014; ORD 15-02 Adopted 1-12-2015; ORD 15-57 & ORD 15-62

Adopted 09-21-2015; ORD 16-21 Adopted 08-15-2016; ORD 16-91 Adopted 10-17-2016; ORD 16-88 Adopted 11-07-2016; ORD 16-99 Adopted 11-

14-2016; ORD 16-104 Adopted 12-12-2016

CH3 58-152

Table 3-4 - Use Table

RS

AR

E

US

US-

M CG CT

CO EC

IM

Agricultural Use CategoriesAgricultural Stands* P P P P P P

Agri-tourism Activities* P P

Areas for Display of Agricultural

Product Excludes Equipment P P P P P P P P P

Aviaries* P P A A A A

Commercial Kennels or Stables or

Similar Boarding Facilities Including

Breeding* P P CU A P P P

Community Gardens* P P P P P P P P P P P

Dairy Farms P P

Forestry Operations P P P

Greenhouse or Nursery (Commercial)* P A P A A P P P P P

Groves and Farms P P P P P P

Hunt Camps* P P P

Livestock / Grazing Animals P P P A A P

Packing Houses* P P P P

Propagation of Insects P P P P P P

Sawmills* P P P P P

Slaughter Houses* CU P P

Structures for Equipment Storage for

Bonafide Agricultural Activities P P P A A P

Structures for Housing Livestock, or

Agricultural Product P P A A A A P

Waste Related Services* A P P P P

Water Bodies for the Propagation of

Marine Foods* P P P P P P P P P

Residential Use Categories AC RS ARE US US-M LDR MDR MDR-M HDR RPB CG CT CO CN EC IR IG IM IN

Accessory Living Unit / Guest Home /

Temporary Residence* A A A A A A A A A A A

Ancillary Uses Incidental to the

Primary Structure* A A A A A A A A A A

Community Residential / Group Home

* P P P P P P P P P P P

Dormitory, Fraternity, Sorority* P P P

Dwelling or Quarters for Agricultural

Employees A A A

Home Occupations* A A A A A A A A A A

Modular Home P P P P P P P P P P

Mobile Home* P P P P P

Model Home* P P P P P P P P P P

Multi-Family Dwelling P P P P P P

Nursing Home / Assisted Living* P P P P P P P P P P P P P P P P P

Residential Over Commercial P P P P

Seasonal Sales Lot *

Single Family Attached Dwelling P P P P P P P P P P P P

Single Family Detached Dwelling P P P P P P P P P P P* P

Vehicle Repair in Residential Districts* A A A A A A A

Institutional Use Categories AC RS ARE US US-M LDR MDR MDR-M HDR RPB CG CT CO CN EC IR IG IM IN

Airport CU CU

Aircraft Landing Field* P P P

Bus or Train Station* P P P P P P P P P P P P P P P P P P P

Cemeteries* P P P P P P P P P P P

***Communication Towers* P P P P P P P P P P

Correctional Facility* CU P P

Educational Facilities (Private)* P P A A A A A A A P P P P P P P P P

Government Buildings and Facilities P P P P P P P P P P P P P P P P P P P

Hospital / Health Institute P P P P P P P P

Helicopter Landing Pad* A A A A A A A A A A A

Houses of Worship * P P P P P P P P P P P P P P P P P P

Parks, Playgrounds P P P P P P P P P P P P P P P P P P P

Pet Rescue* P P P P P P P P P P

Utility Plants* P P P P

Utility Support Substations* P P P P P P P P P P P P P P P P P P P

Wind Farms* P P P P P P P P P P P P P

Specific Uses

MD

R INAC

LDR

MD

R -

M

HD

R

RP

B

CN IR IG

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ORD 12-28 Adopted 10-15-2012; ORD 13-02 Adopted 02-18-2013 ORD 13-34 Adopted 09-16-2013; ORD 13-71 Adopted 11-18-2013; ORD 13-78 Adopted 11-18-2013; ORD 14-25 Adopted 03-10-2014; ORD 14-174 Adopted 12-15-2014; ORD 15-02 Adopted 1-12-2015; ORD 15-57 & ORD 15-62 Adopted 09-21-2015; ORD 16-21 Adopted 08-15-2016; ORD 16-91 Adopted 10-17-2016; ORD 16-88 Adopted 11-07-2016; ORD 16-99 Adopted 11-14-2016; ORD 16-104 Adopted 12-12-2016

CH3 59-152

Commercial Use Categories AC RS ARE US US-M LDR MDR MDR-M HDR RPB CG CT CO CN EC IR IG IM INAmusement or Theme Park P P P P P P

Auto Leasing (Passenger Vehicles Only) P P P P P P PBed and Breakfast * P P P CU CU P P PBig Box Retail Stores P P P P PCampgrounds* P P P P PCocktail Lounge or Bar P P P P P PConstruction Trailers / Temporary Office* A A A A A A A A A A A A A A A A A A A

Convenience Retail with Gas Pumps* P A P P P P P PDance, Karate, Art or Similar Afterschool Care Studio A A P P P P P PDaycare / Adult Daycare* P P P P P P P P P P P P P P PEntertainment Complexes P P P P PFlea Market (Open Air)* P PFood and Beverage Sales P A P P P A P P P PFood Truck/Lunch Truck* P P P P P P P PGolf Driving Range* P P PGun Range (Indoor) P P P P P P P PGun Range (Outdoor) P P PGym or Fitness Training P P P A P P P PHotel / Motel P P P P PMarina (Commercial)* CU CU P P P PMarina (Public)* P P P P P P PMarina (Recreational)* CU CU CU CU CU P P CUMembership Organizations P P P P P P P P P P P P P P P P POffices and Professional Services P P P P P P P P P POutdoor Display A A A A A APublic Fairground P P P

Recreational Facilities (Commercial) P P P P P P PRestaurant A P P P A P P P P P ARestaurant with a Drive Thru* P P P P PRetail Sales and Services A P P P A P P P P PSelf Service Ice House* P P P P P P P PService Station* P P P P P P P PSpecial Event* P P P P P P P P P P P P P P P P PStorage / Warehousing * P P P P PVehicle Sales/Lease and Service P P PVehicle Repair in Commercial Districts* P P PVehicle Self Storage A A P AZoo CU P P PIndustrial Use Categories AC RS ARE US US-M LDR MDR MDR-M HDR RPB CG CT CO CN EC IR IG IM INAdult Entertainment / Media* PAsphalt or Concrete Batching Plant or Pug Mill* P P P

Building Supply and Lumber Sales P P P PExperimental Lab P P P P PLunch Truck* P P PFertilizer or Feed Plants P P P PHeavy Industrial P PJunk, Salvage or Recycled Metal Yards P PLandfill* CU CU

Manufactured Mobile Home Sales P P PMaterials Recovery, Recycling and Composting P P P POutdoor Storage Yard* P P PPackage Treatment Facility P P PPain Clinic (PMC)* CUParking of Trucks, Recreational Vehicles and Trailers* A P P PRenewable Energy Creation / Manufacturing, Research* P P P P P P PSolid Waste Transfer Station P P PWholesaling, Warehousing, Storage and Distribution P P P P PSpecific Uses AC RS AR

E US

US-

M

LDR

MDR

MDR

- M

HDR

RPB CG CT CO CN EC IR IG IM IN

P- Permitted Use or Permitted Provided that Siting Standards are Incorporated into Development

A- Accessory Use, Incidental to the Primary Structure or Use and Subject to Siting Standards

CU- Requires a Conditional Use Permit Approved by the Board of AdjustmentBlank- Prohibited Use* - Specific Use that has Siting Standards

*** Communication Towers that choose not to adhere to the siting standards will be required to obtain a conditional use permit in accordance with this code.

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ORD 12-28 Adopted 10-15-2012; ORD 13-02 Adopted 02-18-2013 ORD 13-34 Adopted 09-16-2013; ORD 13-71 Adopted 11-18-2013; ORD 13-78 Adopted 11-18-2013; ORD 14-25 Adopted 03-10-2014; ORD 14-174 Adopted 12-15-2014; ORD 15-02 Adopted 1-12-2015; ORD 15-57 & ORD 15-62 Adopted 09-21-2015; ORD 16-21 Adopted 08-15-2016; ORD 16-91 Adopted 10-17-2016; ORD 16-88 Adopted 11-07-2016; ORD 16-99 Adopted 11-14-2016; ORD 16-104 Adopted 12-12-2016

CH3 60-152

Table 3.5 Preceding Use Table

R-2

R-2M R-

1

R-1M RS

-1

RS-1

A

RS-1

C

RS-3

RMH-

1

RM-1

RM-2

Agricultural Use CategoriesAgricultural Stands* PAreas for Display of Agricultural Product Excludes Equipment P P P P PAviaries* P A ACommercial Kennels or Stables or Similar Boarding Facilities Including Breeding* P CU CU P PCommunity Gardens* P P P P P P P P P P P P P P P P P P P P P

Dairy Farms PForestry Operations PGreenhouse or Nursery (Commercial)* P A A A A A A A A A P PGroves and Farms P P P P P

Hunt Camps* PLivestock/Grazing Animals P P P A A A A A A A A A A A APacking Houses* PPropagation of Insects P P P P P

Sawmills* PSlaughter Houses* CUStructures for Equipment Storage for Bonafide Agricultural Activities P P P A A A A A A AStructures for Housing Livestock, or Agricultural Product P A A A A A A A A A A A A A A

Water Bodies for the Propagation of Marine Foods* P P P P PResidential Use CategoriesAccessory Living Unit / Guest Home / Temporary Residence* A A A A A A A A A A A A A A A A A A A A AAncillary Uses Incidental to the Primary Structure* A A A A A A A A A A A A A A A A A A A A ADormitory, Fraternity, Sorority*

Community / Group home * P P P P P P P P P P P P P P P P P P P P PDwelling or Quarters for Agricultural Employees PHome Occupations* A A A A A A A A A A A A A A A A A A A A AManufactured Home P P P P P P P P P P P P P P P P P P P P PMobile Home* P P P P P PModel Home* P P P P P P P P P P P P P P P P P P P P PMulti-family Dwelling P P PNursing Home/Assisted Living* P P P P P P P P P P P P P P P P P P P P P PSingle Family Attached Dwelling P P P P P PSingle Family Detached Dwelling P P P P P P P P P P P P P P P P P P P P PInstitutional Use CategoriesAircraft Landing Field* PCemeteries* PCommunication Towers* CU CU CUEducational Facilities (Private)* A A A A A A A A A A A A A A A A A A A A A P PGovernment Buildings and Facilities* P PHospital PHouses of Worship* P P P P P P P P P P P P P P P P P P P P P P PParks and Playgrounds P P P P P P P P P P P P P P P P P P P P P P PUtility Support Substations* P P P P P P P P P P P P P P P P P P P P P P PCommercial Use CategoriesAmusement or Theme Park P

Beverage and Food Sales P P PBed and Breakfast* PCampgrounds* PCocktail Lounge or Bar P PConstruction Trailers / Temporary Office* A A A A A A A A A A A A A A A A A A A A A A AConvenience Retail with Gas Pumps* P PDance, Karate, Art or Similar Afterschool Care Studio PDaycare / Adult Daycare* P P P P P P P P P P P P P P P P P P P P P P PEntertainment Complexes PGun Range (indoor) P PGun Range (outdoor) PGym or Fitness Training P PHotel / Motel PMembership Organizations P P P P P P P P P P P P P P P P P P P P P P POffices and Professional Services P PRecreational Facilities (Commercial) PRestaurant P PRestaurant with a Drive Thru* P PRetail Sales and Services P PService Station* P PStorage / Warehousing * P P

Vehicle Sales/Lease and Service P P

Vehicle Repair* PIndustrial Use Categories Experimental lab PLandfill* CURenewable Energy Creation / Manufacturing, Research* PSpecific Uses AC R-

2

R-2M R-

1

R-1M E-

5

E-2

E-2A E-

1

E-1A RS-1

RS-1

A

RS-1

C

RS-2

RS-3

RMH

RMH-

1

RMH-

1A

RM-1

RM-2

RM-3 CR IB

P - Permitted Use or Permitted Provided that Siting Standards are Incorporated into DevelopmentA - Accessory Use Incidental to the Primary Structure or Use and Subject to Siting StandardsCU- Requires a conditional use permit approved by the Board of Adjustment* - Indicates a specific use that has Siting Standards Blank- Prohibited Use

IBSpecific Uses E-2

RM-3 CR

Insid

e UGB

- AC E-5

E-2A E-

1

E-1A RS-2

RMH

RMH-

1A

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_______________________________________________________________________________________________________________________ Form 5011612 (7-1-14) Page 1 of 13 ALTA Commitment (6-17-06) (with Florida modifications)

Commitment

Commitment for Title Insurance ISSUED BY First American Title Insurance Company 5011612 - 2061-3719846

FIRST AMERICAN TITLE INSURANCE COMPANY, a Nebraska corporation (the “Company”), for a valuable consideration, commits to issue its policy or policies of title insurance, as identified in Schedule A, in favor of the proposed Insured named in Schedule A, as owner or mortgagee of the estate or interest in the Land described or referred to in Schedule A, upon payment of the premiums and charges and compliance with the Requirements; all subject to the provisions of Schedules A and B and to the Conditions of this Commitment. This Commitment shall be effective only when the identity of the proposed Insured and the amount of the policy or policies committed for have been inserted in Schedule A by the Company. All liability and obligation under this Commitment shall cease and terminate six (6) months after the Effective Date or when the policy or policies committed for shall issue, whichever first occurs, provided that the failure to issue the policy or policies is not the fault of the Company. The Company will provide a sample of the policy form upon request. This Commitment shall not be valid or binding until countersigned by an authorized officer of the Company or an agent of the Company.

IN WITNESS WHEREOF, First American Title Insurance Company has caused its corporate name to be affixed by its duly authorized officers on the Effective Date shown in Schedule A.

(This Commitment is valid only when Schedules A and B are attached)

Copyright 2006-2009 American Land Title Association. All rights reserved. The use of this form is restricted to ALTA licensees and ALTA members in good standing as of the date of use. All other uses are prohibited. Reprinted under license from the American Land Title Association.

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CONDITIONS 1. The term mortgage, when used herein, shall include deed of trust, trust deed, or other security instrument. 2. If the proposed Insured has or acquired actual knowledge of any defect, lien, encumbrance, adverse claim or other matter

affecting the estate or interest or mortgage thereon covered by this Commitment other than those shown in Schedule B hereof, and shall fail to disclose such knowledge to the Company in writing, the Company shall be relieved from liability for any loss or damage resulting from any act of reliance hereon to the extent the Company is prejudiced by failure to so disclose such knowledge. If the proposed Insured shall disclose such knowledge to the Company, or if the Company otherwise acquires actual knowledge of any such defect, lien, encumbrance, adverse claim or other matter, the Company at its option may amend Schedule B of this Commitment accordingly, but such amendment shall not relieve the Company from liability previously incurred pursuant to paragraph 3 of these Conditions.

3. Liability of the Company under this Commitment shall be only to the named proposed Insured and such parties included under

the definition of Insured in the form of policy or policies committed for and only for actual loss incurred in reliance hereon in undertaking in good faith (a) to comply with the requirements hereof, or (b) to eliminate exceptions shown in Schedule B, or (c) to acquire or create the estate or interest or mortgage thereon covered by this Commitment. In no event shall such liability exceed the amount stated in Schedule A for the policy or policies committed for and such liability is subject to the insuring provisions and Conditions and the Exclusions from Coverage of the form of policy or policies committed for in favor of the proposed Insured which are hereby incorporated by reference and are made a part of this Commitment except as expressly modified herein.

4. This Commitment is a contract to issue one or more title insurance policies and is not an abstract of title or a report of the

condition of title. Any action or actions or rights of action that the proposed Insured may have or may bring against the Company whether or not based on negligence arising out of the status of the title to the estate or interest or the status of the mortgage thereon covered by this Commitment must be based on and are subject to the provisions of this Commitment.

5. The policy to be issued will contain the following arbitration clause: Unless prohibited by applicable law, arbitration pursuant to

the Title Insurance Arbitration Rules of the American Arbitration Association may be demanded if agreed to by both the Company and the Insured at the time of the controversy or claim. Arbitrable matters may include, but are not limited to, any controversy or claim between the Company and the Insured arising out of or relating to this policy, any service of the Company in connection with its issuance or the breach of a policy provision or other obligation. Arbitration pursuant to this policy and under the Rules in effect on the date the demand for arbitration is made or, at the option of the Insured, the Rules in effect at Date of Policy shall be binding upon the parties. The award may include attorneys’ fees only if the laws of the state in which the land is located permit a court to award attorneys’ fees to a prevailing party. Judgment upon the award rendered by the Arbitrator(s) may be entered in any court having jurisdiction thereof. The law of the situs of the land shall apply to an arbitration under the Title Insurance Arbitration Rules. A copy of the Rules may be obtained from the Company upon request.

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FIRST AMERICAN

TITLE INSURANCE COM

PANY

Corporate Office 1 First Am

erican Way

Santa Ana, CA 92707 (800) 854-3643

ISSUED THROUGH THE OFFICE OF:

=

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Schedule A


Customer Reference Number: First American File Number: 2061-3719846

1. Effective Date: March 06, 2017 @ 8:00 A.M.

2. Policy or Policies to be issued: Proposed Amount of Insurance:

a. Owner's Policy ALTA Owner's Policy of Title Insurance (6-17-06)

(with Florida modifications) $1,000.00

Proposed Insured: A natural person or legal entity to be designated b. Loan Policy ALTA Loan Policy of Title Insurance (6-17-06)

(with Florida modifications) $1,000.00

Proposed Insured: To Be Determined, its successors and/or assigns as their interests may appear as

defined in the Conditions of this policy.

c. $ Proposed Insured:

Premium: $

3. The estate or interest in the land described or referred to in this Commitment is Fee Simple

4. Title to the Fee Simple estate or interest in the land is at the Effective Date vested in:

Namal Enterprises L.L.C., a Florida limited liability company, as debtor in possession under Bankruptcy Case No. 8:16-bk-07190-MGW in the Middle District of Florida (Tampa)

5. The land referred to in this Commitment is described as follows:

See Exhibit "A" attached hereto and made a part hereof

McIntyre Thanasides Bringgold Elliott Grimaldi & Guito, P.A. By: _________________________ Authorized Countersignature for McIntyre Thanasides Bringgold Elliott Grimaldi & Guito, P.A. (This Schedule A valid only when Schedule B is attached.)

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Exhibit A



The land referred to herein below is situated in the County of Osceola, State of Florida, and is described as follows: Parcel "C" of KYNG'S HEATH III, PHASE III, according to the Plat thereof as recorded in Plat Book 5, page 2, of the Public Records of Osceola County, Florida.

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Schedule BI



REQUIREMENTS

The following requirements must be met:

1. Pay and/or disburse the agreed amounts for the interest in the land and/or the mortgage to be insured.

2. Pay us the premiums, fees and charges for the policy.

3. Pay all taxes and/or assessments, levied and assessed against the land, which are due and payable.

4. The following documents, satisfactory to us, creating the interest in the land and/or the mortgage to be insured must be signed, delivered and recorded:

a) Warranty Deed from Namal Enterprises L.L.C., a Florida limited liability company, as debtor in possession under Bankruptcy Case No. 8:16-bk-07190-MGW in the Middle District of Florida (Tampa), to A natural person or legal entity to be designated. This deed must recite that the conveyance is a sale free and clear of all liens and is being executed by Corrected Order Approving Sale Of Substantially All Of The Debtor's Assets under said Bankruptcy case. In connection with said deed, we will further require regarding the grantor: i. Production of a copy of the articles of organization and operating agreement if adopted, with an affidavit affixed thereto that it is a true copy of the articles of organization and operating agreement, and all amendments thereto (the "Enabling Documents"), and that the limited liability company has not been dissolved; ii. That said deed shall be executed by all of the members, unless the articles of organization provide that the company shall be governed by managers, then said deed shall be executed by all of the managers; iii. If the Enabling Documents authorize less than all of the members, or managers as the case may be, to execute a conveyance, then said deed may be executed by such members or managers as are authorized by the articles of organization and operating agreement to execute a conveyance, together with any documentary evidence which may be necessary to show the authority of the parties executing the deed to bind the limited liability company; iv. Should any member, or manager if applicable, be other than a natural person, we will require proof of good standing as well as documentation of authority of the person to execute documents on its behalf; v. Certificate from the Secretary of State (or other governmental agency designated for the filing of the Enabling Documents) of said limited liability company's domicile, showing the limited liability company to have been formed prior to the date of acquisition,

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together with proof as to the current status of said limited liability company; vi. Documentary evidence in recordable form, showing compliance with all requirements regarding conveying company property contained in the Enabling Documents; and vii. The Company reserves the right to amend the commitment, including but not limited to, the addition of further requirements and/or exceptions as it deems necessary based upon a review of any of the documentation required above.

b. Mortgage from A natural person or legal entity to be designated, as a single person or persons, joined by spouse (or their respective spouses), if married, to To Be Determined, encumbering the property described in Schedule "A" in the principal sum of $1,000.00. In the event that the property being encumbered is not the homestead of the mortgagor(s), the following statement should be set forth on said mortgage in lieu of a spouse's signature: The land described herein is not the homestead of the mortgagor(s), and neither the mortgagor(s) nor the mortgagor(s) spouse, nor anyone for whose support the mortgagor(s) is responsible, resides on or adjacent to said land.

5. Certified copies of the following from the bankruptcy proceedings styled "In re to Namal Enterprises, LLC, debtor", Case No. 8:16-bk-07190-MGW, are to be recorded in the Public Records of Osceola County, Florida: a) Corrected Order Approving Sale Of Substantially All Of The Debtor’s Assets; b) Affidavit by cousel of record establishing that all parties having an interest in the property were given proper notice, said parties including but not limited to: 1) TD Bank, N.A., a National banking association; 2) NIMM, Inc., a Florida corporation; 3) Osceola County, Florida; 4) Department of Revenue, State of Florida; 5) BELFOR USA Group and 6) Safemark Systems, L.P.; c) Evidence that all conditions, if any, under the Order were satisfied and d) Copy of the Case Docket confirming lack of an appeal during the 14 day period following issuance of Order. Based upon our review of the bankruptcy proceedings and the documentation requested above, the Company reserves the right to make such additional requirements and/or exceptions as it may then deem necessary.

6. Discharge of "Notice of Lis Pendens" recorded in Book 4647, page 166 and Book 4846, page 2465, together with a dismissal with prejudice of Case No. 2014-CA-002290-MF, styled TD Bank, N.A. v. Namal Enterprises, LLC, et al (as to the property to be insured herein).

7. Vacation of judgment entered in Case No. 2014-CA-002290-MF, in the 9th Judicial Circuit court of Osceola County, Florida, styled TD Bank, N.A. vs Namal Enterprises, LLC, et al as recorded in Book 4862, page 387 (as to property to be insured herein).

8. Vacation of judgment entered in Case No. 14-CA-2290-MF, in the 9th Judicial Circuit court of Osceola County, Florida, styled TD Bank, N.A. vs Namal Enterprises, LLC, et al as recorded in Book 4883, page 729 (as to property to be insured herein).

9. Record release of Code Enforcement Lien recorded in Book 5058, page 346, as amended in Book 5065, page 129 and as affected by document recorded in Book 5093, page 1029 which was assessed against the insured property together with evidence that the code violation on which said lien is based has been corrected in accordance with the requirements of the Code Enforcement Board imposing said lien.

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10. Proof of payment of any and all Kyng's Heath Property Owners Association, Inc. liens and/or assessments against the land described in Schedule A (including, but not limited to, any special assessments or payments due to others such as master associations).

11. Satisfactory verification from appropriate governmental authorities that any and all unrecorded Special Taxing District Liens, City and County Special Assessment Liens, MSBU Assessment Liens, Impact Fees, and Water, Sewer and Trash Removal Charges, have been paid.

12. Redemption of Tax Sale Certificate No. 978, sale of 2015, for 2014 unpaid taxes.

13. Redemption of Tax Sale Certificate No. 888, sale of 2016, for 2015 unpaid taxes.

14. Proof of payment of taxes and assessments for the year 2016, and prior years, plus any penalties and interest.

15. Note: The following is for informational purposes only and is given without assurance or guarantee: 2016 taxes show DUE. The gross amount is $50,523.52 for Tax Identification No. R022528-3595000100C0.

16. The name or names of the proposed insured(s) and/or the amount of requested insurance under the Owner's/Loan Policy to be issued must be furnished and this Commitment is subject to such further exceptions and/or requirements as may then be deemed necessary.

17. If the amount of insurance to be issued exceeds the authority of the agent under the existing Agency Agreement with the Company, the Company requires that the agent obtain specific underwriting approval from First American.

NOTE: The following conveyance(s) have been recorded within the last 24 months: None

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Schedule BII



PART II

Schedule B of the policy or policies to be issued will contain exceptions to the following matters unless the same are disposed of to the satisfaction of the Company:

1. Defects, liens, encumbrances, adverse claims or other matters, if any, created, first appearing in the public records or attaching subsequent to the effective date but prior to the date the proposed insured acquires for value of record the estate or interest or mortgage thereon covered by this Commitment.

2. Any rights, interests, or claims of parties in possession of the land not shown by the public records.

3. Any encroachment, encumbrance, violation, variation or adverse circumstance affecting the Title that would be disclosed by an accurate and complete land survey of the land.

4. Any lien, for services, labor, or materials in connection with improvements, repairs or renovations provided before, on, or after Date of Policy, not shown by the public records.

5. Any dispute as to the boundaries caused by a change in the location of any water body within or adjacent to the land prior to Date of Policy, and any adverse claim to all or part of the land that is, at Date of Policy, or was previously under water.

6. Taxes or special assessments not shown as liens in the public records or in the records of the local tax collecting authority, at Date of Policy.

7. Any minerals or mineral rights leased, granted or retained by current or prior owners.

The Standard Exception for any minerals or mineral rights leased, granted or retained by current or prior owners is hereby deleted.

8. Taxes and assessments for the year 2017 and subsequent years, which are not yet due and payable.

NOTES FOR STANDARD EXCEPTIONS: Standard Exceptions for parties in possession, for mechanics liens, and for taxes or special assessments not shown as liens in the public records shall be deleted upon receipt of an acceptable Non-Lien and Possession Affidavit establishing who is in possession of the lands, that there are no liens or encumbrances upon the lands other than as set forth in the Commitment, that no improvements to the lands have been made within the past 90 days or are contemplated to be made before closing that will not be paid in full, and that there are no unrecorded taxes or assessments that are not shown as existing liens in the public records. Any Policies issued hereunder may be subject to a Special Exception for matters disclosed by said affidavit. Standard Exception(s) for questions of survey may be deleted upon receipt and review of a properly certified Survey meeting the Florida Minimum Technical Standards for all land surveys

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dated no more than 90 days prior to closing or such other proof as may be acceptable to the Company. Any Policies issued hereunder may be subject to a Special Exception for matters disclosed by said survey or proof.

9. Pending litigation under Bankruptcy Case RE: Namal Enterprises, LLC Debtor in Bankruptcy, under Case No. 8:16-bk-07190-MGW in the Middle District of Florida (Tampa).

10. Code Violation(s) referenced in that certain Code Enforcement Lien recorded in Book 5058, page 346, as amended in Book 5065, page 129 and as affected by document recorded in Book 5093, page 1029 and any fines, penalties or other sums claimed to be due and owing with respect to said Code Violation(s) and any loss or damage as a result thereof.

11. Restrictions, dedications, conditions, reservations, easements and other matters shown on the plat of KYNG'S HEATH III, PHASE III, as recorded in Plat Book 5, Page(s) 2, but deleting any covenant, condition or restriction indicating a preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin to the extent such covenants, conditions or restrictions violate 42 USC 3604(c).

12. Declaration of Covenants, Conditions, Restrictions and Easements, including any amendments or modifications thereto, which contains provisions for a private charge or assessments, recorded in Book 757, page 2468 and Book 798, page 1620 , but deleting any covenant, condition or restriction indicating a preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin, to the extent such covenants, conditions or restrictions violate 42 USC 3604(c).

13. Terms and conditions of the Easement Agreement between Pizza Hut Of Titusville, Inc., a Florida corporation and Bob Evans Farms, Inc., an Ohio corporation recorded in Book 834, page 2969, as modified by document recorded in Book 918, page 368.

14. Covenants, Conditions and Restrictions as set forth in General Warranty Deed recorded in Book 918, page 352, but deleting any covenant, condition or restriction indicating a preference, limitation or discrimination based on race, color, religion, sex, handicap, familial status or national origin to the extent such covenants, conditions or restrictions violate 42 USC 3604(c).

15. Terms and conditions of the Deed Of Easement between Pizza Hut Of Titusville, Inc., a Florida corporation and Red Roof Inns, Inc., an Ohio corporation recorded in Book 918, page 362.

16. Terms and conditions of any existing unrecorded lease(s), and all rights of lessee(s) and any parties claiming through the lessee(s) under the lease(s).

17. Any loss or damage arising from a lien for Homeowner's Association assessments recorded after the date of the Policy, resulting from the effect of Florida Statute 720.3085, notwithstanding any assurances to the contrary in any Florida Endorsement Form 9-06 or Florida Endorsement Form 9.3-06, which may be attached to this Policy. (Affects any Loan Policy(s) issued pursuant to this Commitment)

DR

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Note: All of the recording information contained herein refers to the Public Records of Osceola County, Florida, unless otherwise indicated. Any reference herein to a Book and Page is a reference to the Official Record Books of said county, unless indicated to the contrary.

Notices - Where Sent All notices required to be given the Company and any statement in writing required to be furnished the Company shall include the number of this policy and shall be addressed to the Company, Attention: Claims Department, 1 First American Way, Santa Ana, CA 92707.

Service, Quality and Availability First American Title Insurance Company cares about its customers and their ability to obtain information and service on a convenient, timely and accurate basis. A qualified staff of service representatives is dedicated to serving you. A toll-free number is available for your convenience in obtaining information about coverage and to provide assistance in resolving complaints at 1-800-854-3643. Office hours are from 8:30 a.m. through 5:30 p.m. Monday through Friday.

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McIntyre Thanasides Bringgold Elliott Grimaldi & Guito, P.A. 500 E. Kennedy Blvd., Suite 200 Tampa , FL 33602 Phn - (813)899-6059 Fax - (813)899-6069

03/08/2017 Re: Customer Reference Number:

First American File Number: 2061-3719846 Property Address: 4970 Kyngs Heath Rd, Kissimmee, FL 34746 YOU MAY BE ENTITLED TO A REDUCED PREMIUM FOR TITLE INSURANCE IF THIS OFFICE IS PROVIDED WITH A PRIOR OWNER'S POLICY INSURING THE SELLER OR MORTGAGOR IN THE CURRENT TRANSACTION. An order has been placed with this company for a title insurance policy. The purpose of this letter is to provide you with important information regarding the title insurance premium that has been or will be charged in connection with this transaction. Eligibility for a discounted title insurance premium will depend on :

REFINANCE TRANSACTIONS: To qualify for a reduced premium for title insurance you must provide our office with a copy of your prior owner's policy of title insurance insuring your title to the above-referenced property. SALES TRANSACTIONS: To qualify for a reduced premium for title insurance you must provide our office with a copy of your (or your seller's) prior owner's policy of title insurance insuring your title to the above-referenced property. The effective date of the prior owner's policy must be less than three years old or the property insured by the policy must be unimproved (except roads, bridges, drainage facilities and utilities are not considered improvements for this purpose).

To qualify for the reduced rate, you or your representative may hand deliver, mail or fax a copy of the prior owner's policy of title insurance to the above address or fax number prior to closing, although we will accept the prior policy up to 5 working days after the closing date of your transaction.

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Privacy Information We Are Committed to Safeguarding Customer Information In order to better serve your needs now and in the future, we may ask you to provide us with certain information. We understand that you may be concerned about what we will do with such information - particularly any personal or financial information. We agree that you have a right to know how we will utilize the personal information you provide to us. Therefore, together with our subsidiaries we have adopted this Privacy Policy to govern the use and handling of your personal information. Applicability This Privacy Policy governs our use of the information that you provide to us. It does not govern the manner in which we may use information we have obtained from any other source, such as information obtained from a public record or from another person or entity. First American has also adopted broader guidelines that govern our use of personal information regardless of its source. First American calls these guidelines its Fair Information Values. Types of Information Depending upon which of our services you are utilizing, the types of nonpublic personal information that we may collect include:

• Information we receive from you on applications, forms and in other communications to us, whether in writing, in person, by telephone or any other means; • Information about your transactions with us, our affiliated companies, or others; and • Information we receive from a consumer reporting agency.

Use of Information We request information from you for our own legitimate business purposes and not for the benefit of any nonaffiliated party. Therefore, we will not release your information to nonaffiliated parties except: (1) as necessary for us to provide the product or service you have requested of us; or (2) as permitted by law. We may, however, store such information indefinitely, including the period after which any customer relationship has ceased. Such information may be used for any internal purpose, such as quality control efforts or customer analysis. We may also provide all of the types of nonpublic personal information listed above to one or more of our affiliated companies. Such affiliated companies include financial service providers, such as title insurers, property and casualty insurers, and trust and investment advisory companies, or companies involved in real estate services, such as appraisal companies, home warranty companies and escrow companies. Furthermore, we may also provide all the information we collect, as described above, to companies that perform marketing services on our behalf, on behalf of our affiliated companies or to other financial institutions with whom we or our affiliated companies have joint marketing agreements. Former Customers Even if you are no longer our customer, our Privacy Policy will continue to apply to you. Confidentiality and Security We will use our best efforts to ensure that no unauthorized parties have access to any of your information. We restrict access to nonpublic personal information about you to those individuals and entities who need to know that information to provide products or services to you. We will use our best efforts to train and oversee our employees and agents to ensure that your information will be handled responsibly and in accordance with this Privacy Policy and First American's Fair Information Values. We currently maintain physical, electronic, and procedural safeguards that comply with federal regulations to guard your nonpublic personal information. Information Obtained Through Our Web Site First American Financial Corporation is sensitive to privacy issues on the Internet. We believe it is important you know how we treat the information about you we receive on the Internet. In general, you can visit First American or its affiliates’ Web sites on the World Wide Web without telling us who you are or revealing any information about yourself. Our Web servers collect the domain names, not the e-mail addresses, of visitors. This information is aggregated to measure the number of visits, average time spent on the site, pages viewed and similar information. First American uses this information to measure the use of our site and to develop ideas to improve the content of our site. There are times, however, when we may need information from you, such as your name and email address. When information is needed, we will use our best efforts to let you know at the time of collection how we will use the personal information. Usually, the personal information we collect is used only by us to respond to your inquiry, process an order or allow you to access specific account/profile information. If you choose to share any personal information with us, we will only use it in accordance with the policies outlined above. Business Relationships First American Financial Corporation's site and its affiliates' sites may contain links to other Web sites. While we try to link only to sites that share our high standards and respect for privacy, we are not responsible for the content or the privacy practices employed by other sites. Cookies Some of First American's Web sites may make use of "cookie" technology to measure site activity and to customize information to your personal tastes. A cookie is an element of data that a Web site can send to your browser, which may then store the cookie on your hard drive. FirstAm.com uses stored cookies. The goal of this technology is to better serve you when visiting our site, save you time when you are here and to provide you with a more meaningful and productive Web site experience. -------------------------------------------------------------------------------- Fair Information Values Fairness We consider consumer expectations about their privacy in all our businesses. We only offer products and services that assure a favorable balance between consumer benefits and consumer privacy. Public Record We believe that an open public record creates significant value for society, enhances consumer choice and creates consumer opportunity. We actively support an open public record and emphasize its importance and contribution to our economy. Use We believe we should behave responsibly when we use information about a consumer in our business. We will obey the laws governing the collection, use and dissemination of data. Accuracy We will take reasonable steps to help assure the accuracy of the data we collect, use and disseminate. Where possible, we will take reasonable steps to correct inaccurate information. When, as with the public record, we cannot correct inaccurate information, we will take all reasonable steps to assist consumers in identifying the source of the erroneous data so that the consumer can secure the required corrections. Education We endeavor to educate the users of our products and services, our employees and others in our industry about the importance of consumer privacy. We will instruct our employees on our fair information values and on the responsible collection and use of data. We will encourage others in our industry to collect and use information in a responsible manner. Security We will maintain appropriate facilities and systems to protect against unauthorized access to and corruption of the data we maintain.

Form 50-PRIVACY (9/1/10) Page 1 of 1 Privacy Information (2001-2010 First American Financial Corporation)

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UNITED STATES BANKRUPTCY COURT MIDDLE DISTRICT OF FLORIDA

TAMPA DIVISION www.flmb.uscourts.gov

In re: Namal Enterprises, LLC Case No. 8:16-bk-07190-MGW fdba Red Roof Inn Kissimmee Chapter 11 fdba Blue Inn LBVS, Debtor.

CORRECTED ORDER APPROVING SALE OF 1 SUBSTANTIALLY ALL OF THE DEBTOR’S ASSETS

(Corrected Only As To Broker’s Name)

THIS CAUSE came on for hearing on January 17, 2017 (the “Hearing”) upon the

Debtor’s Amended Motion For Entry of An Order to Sell Debtor’s Property Assets and

Potential Claims, Free and Clear of All Liens, Claims and Encumbrances (D.E. 115, the

“Motion”). In the Motion, the Debtor requests authority to sell substantially all of its

assets, including, but not limited to, the real property commonly known as 4970 Kyngs

Heath Rd., Kissimmee, Florida 34746, and all tangible personal property (collectively,

1 Corrected only as to Broker’s name

Dated: February 28, 2017

ORDERED.

Case 8:16-bk-07190-MGW Doc 135 Filed 03/01/17 Page 1 of 3

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http://www.flmb.uscourts.gov/

2

the “Property”) free and clear of all liens, claims, encumbrances and interests. The Court

having determined that a sale of the Property is in the best interest of the Debtor, its

estate, creditors and other parties in interest, Accordingly it is

ORDERED:

1. The Debtor is hereby authorized to conduct a sale of the Property by

auction on March 29, 2017 at 3:30 p.m., at the United States Bankruptcy Court, Middle

District of Florida, Tampa Division, 801 N. Florida Avenue, Courtroom 8A, Tampa,

Florida 33602 (the “Sale”).

2. The Sale shall be held in accordance with the procedures, terms and

conditions set forth in the Court’s Order Approving Bidding and Auction Procedures

Relating to Sale of Substantially all of the Debtor’s Assets (the “Bidding Procedures

Order”).

3. The sale of the Property conducted in accordance with the Bidding

Procedures Order shall be free and clear of all liens, claims, encumbrances and interests,

with all such liens, claims, encumbrances and interests attaching to the proceeds of the

sale as of the date of the Hearing.

4. The Debtor is authorized to employ Tranzon Driggers, LLC (“Broker”) as

real estate broker as of the date of the Hearing. Broker is authorized to take all customary

and reasonable actions in order to conduct the Sale in accordance with the Bidding

Procedures Order, and the Debtor shall cooperate with Broker in relation to all such

actions.

5. All customary closing costs shall be paid at closing, which all include, but

are not limited to, the following:


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a) Brokers’ commissions in amounts to be determined pursuant to either the final sales contract or separate agreements among the brokers and relevant parties;

b) Any applicable transfer taxes or other customary transfer fees;

c) Any outstanding utility charges; and

d) Any property taxes, pro-rated as of the closing date.

6. At the completion of the closing, the Broker shall distribute the remaining

proceeds in the following order of priority: (1) first, to TD Bank, N.A.; (2) second, to

Belfor USA Group, Inc.; (3) third, to the Internal Revenue Service; and (4) fourth, to the

Florida Department of Revenue.

7. The Debtor is authorized to take all customary and reasonable actions to

consummate the Sale, as long as such actions are consistent with the Bidding Procedures

Order.

8. This Order may be recorded in the land records of the appropriate

jurisdictions.

9. This Court retains jurisdiction with respect to any disputes regarding the

Property following the Sale.

10. This Order shall be effective immediately, and shall not be subject to the

stay provided in Federal Rule of Bankruptcy Procedure 6004(h) or any other applicable

stay.

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Attorney Katie Brinson Hinton is directed to serve a copy of this order on interested parties and file a proof of service within three (3) days of entry of the order.


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I m p o r t a n t D a t e s & F a c t s :

Prop #: DG956 Auction Date: March 29, 2017 Auction Time: 3:30 pm ET Auction Location: US Bankruptcy Court, 801 N Florida Ave, Tampa, FL 33602, Courtroom 8A Preview: March 15 & 22, 2017 at 11 am ET Deposit: $100,000 sent via wire transfer to Tranzon Driggers Escrow Account Escrow Agent: McIntyre Thanasides Bringgold Elliott Grimaldi & Guito, P.A. Closing Date: May 1,2017 (on or before)

Please be prompt as it only takes minutes to sell a property. There will be an explanation of the bidding process before the auction starts.

C o n c e r n i n g C o n d i t i o n s : Tranzon Driggers is acting as agent of the seller. The auctioneer’s decision is final in the event of a dispute over any matter. The auctioneer reserves the right to: (A) revoke the bidding privileges of any bidder at any time; (B) refuse any bid which is merely a fractional advance over the preceding bid; (C) choice, group, add to, withdraw from, or change the selling order of the property; (D) re-open the bidding in the event of a tie; (E) not accept a highest bid as the successful bid due to Seller’s reserve not being met or for any other reason; and (F) waive any previously announced requirements.

All announcements made from the auction block supersede any printed material or any other statements made previously. The property is being sold in “as is, where is” condition subject to “all faults”. You are urged to thoroughly inspect the property before submitting bids in the auction. The bidder/buyer must rely on his/her own information, inspection of records and determination to bid.

C o n c e r n i n g T e r m s : • Subject to bankruptcy court approval. • Closing will be on or before the date indicated

above. • Buyers should have all tests and inspections

(including lead-based paint) completed prior to placing bids in the auction.

• Deed type will be indicated in the purchase agreement.

• Buyer will be responsible for back and current taxes, title insurance, settlement fee, documentary stamps/transfer tax, recording the deed, municipal lien search fee, and other associated costs of closing.

H o w t o B i d : In order to participate in the auction you must do the following: 1. Complete and return the bidder registration form and

send proof of funds to Tranzon Driggers. 2. Send $100,000 bid deposit via wire transfer to

Tranzon Driggers Escrow Account by Mar. 27, 2017 at 5 pm ET.

Upon declaration that you are the successful bidder, you will immediately sign the Contract for Sale and Purchase of Real Estate. At the conclusion of the auction, the successful bidder’s deposit will be transferred to the escrow agent indicated above to be held in accordance with the terms of the purchase agreement.

If you are not the high bidder, your bid deposit will be returned by wire transfer to the originating account within five business days of completion of the auction.

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RATES: Deed Doc. Stamps=$.70/$100 or portion thereof; Mortgage Doc. Stamps = $.35/$100 or portion thereof; Intangible Tax $.002/$1; Recording $10 1st page, $8.50 each additional page. Rev: 1-11-2017

Buyer acknowledges that this instrument has been read and signed before any Contract for Purchase and Sale of Real Estate referred to herein has been signed. Buyer understands the real estate broker, Tranzon DRIGGERS is working as agent for the seller named above and will receive a commission from the seller on this sale.

RADON GAS: Radon is naturally occurring radioactive gas that, when it has accumulated in building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county public health unit. If this purchase regards a single family home: ENERGY EFFICIENCY RATING: Pursuant to Florida Statutes section 553.96, Buyer may at his/her discretion have the energy efficiency rating of building being purchased determined. Any inspection rating determined shall be at Buyer’s expense. This purchase is NOT contingent upon the Buyer’s approval of the rating. Rating, if determined, shall be for Buyer’s information. Buyer acknowledges that this notice, was signed and a Department of Community Affairs brochure on the Florida Building Energy Efficiency Rating System, was received at the time of, or prior to, buyer signing the sales contract referenced above.

(x) 1. Documentary Stamps on Deed $.70/$100 or portion thereof

(x) 2. Documentary Stamps on Note $.35/$100 or portion thereof

(x) 3. Intangible Tax on New Note $.002/$1

(x) 4. All back and current Taxes (if applicable) $156,683±

(x) 5. Recording Deed $10 first pg., $8.50 ea. additional pg.

(x) 6. Title Insurance/Closing Services Title Insurance - Florida Promulgated Rate / Closing Services - TBD

(x) 7. Recording of Mortgage and Note $10 first pg., $8.50 ea. additional pg.

(x) 8. Settlement Fee TBD - Customary Closing and Disbursement Fees and Costs

(x) 9. HOA/COA Estoppel Fee/Transfer Fee/Mobile Home Title Transfer Fee, & back & current HOA/COA Fees (if applicable)

TBD - if any HOA

At such time as the above-referenced transaction is closed, additional sums may be demanded from you as Buyer, in the form of closing costs. Listed below are the major closing cost items ordinarily found in a transaction and checked are those items which may be payable pursuant to the contract which you are about to sign. Dollars amounts, if shown, are approximate. Final figures will be compiled by the closing agent.

REAL PROPERTY SALES DISCLOSURE

To: _____________________________________________________________, BUYER of that certain parcel described as follows, to wit: Property: DG956 SELLER: Namal Enterprises, LLC

AGENT: Tranzon DRIGGERS, Licensed Real Estate Broker

Dated this 29th day of March , 2017

Signed in the presence of: BUYER(S):

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SAMPL

E

CONTRACT FOR SALE AND PURCHASE

This Contract for Sale and Purchase (this “Agreement”) is entered into effective as of by and among the Bankrupt Estate of Namal Enterprises, LLC, which is pending in the United States Bankruptcy Court, Middle District of Florida, Tampa Division, Case No.: 8:16-bk-07190-MGW (“Seller”) and (“Buyer”):

Name:

Address:

Phone: Email:

Recitals:

WHEREAS, Buyer was the successful bidder at auction for the Property (as defined herein) at the Auction held on March 29, 2017 pursuant to the Bankruptcy Court’s Corrected Order Approving Sale of Substantially All of the Debtor’s Assets dated March 1, 2017. (Doc. No. 135);

WHEREAS, Seller desires to sell to Buyer, and Buyer desires to purchase from Seller, the Property (as defined herein) upon the terms and conditions contained in this Agreement.

WHEREAS, the BUYER submitted a bid of:

Purchase Price: $

Deposit: $ 100,000.00 received from the Buyer which shall apply as part and shall be held in escrow by McIntyre Thanasides Bringgold Elliott Grimaldi & Guito, P.A. pending closing of this transaction.

NOW, THEREFORE, in consideration of the mutual covenants and promises herein contained, and other good and valuable consideration, the receipt, adequacy, and sufficiency of which are hereby acknowledged, the parties intending to be legally bound hereby agree as follows:

1. Sale and Purchase of the Property. Seller hereby agrees to sell to Buyer, and Buyer hereby agrees to purchase from Seller pursuant to the terms and conditions of this Agreement, the property identified on Exhibit A, attached and made a part hereof, together with all improvements, hereinafter called the “Property”.

2. Purchase Price. The full purchase price (the “Purchase Price”) for the Property shall be payable in cash by Buyer at the Closing, of which the Deposit (as defined herein) shall apply as part. Upon the execution of this Agreement by all parties, Buyer shall deposit with the firm of McIntyre Thanasides Bringgold Elliott Grimaldi & Guito, P.A. (“Escrow Agent”) to be held in escrow as deposit on account of offer to purchase the Property (the “Deposit”).

Escrow Agent address and contact information:

500 E Kennedy Blvd Suite 200, Tampa, FL 33602 Contact: Blake D. Bringgold Ph: 813-899-6059 Email: [email protected]

3. Prior to the closing of this transaction, the Seller shall have issued, by a reputable Title Insurance Company, a commitment for title insurance agreeing to insure marketable title to Property, and upon closing the Buyer can purchase a title insurance policy on the real property covered hereunder in the amount of the Full Purchase Price, after all necessary instruments, are filed of record. In the event the title shall be proven to be unmarketable, the Seller shall have a period of 45 days after notification thereof within which to cure defects in title (“Curative Period”), and this sale shall be closed within 10 days after notice that the title defects are cured. Upon Seller's failure to correct unmarketability within the time specified after exercising reasonable diligence, at Buyer’s option, the earnest money deposit shall be returned to the Buyer and neither party shall have any further obligations to the other hereunder or Buyer may waive Buyer’s objection to the title and close with

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Contract for Sale and Purchase, page 2 of 5 Property # DG956

the title “As Is.” Buyer shall make the election in writing within five (5) days from the expiration of the Curative Period, failing which the earnest money deposit shall be returned to the Buyer and neither party shall have any further obligations to the other hereunder.

4. Closing Costs; Expenses. Buyer will pay all closing costs and expenses associated with the Closing, including all documentary stamps on the deed, purchase money mortgage and note, all intangible tax due, all recording fees, transfer fees, settlement fee, and title insurance. Seller will pay no closing costs.

5. Closing. Subject to Sections 3 and 6, the sale and purchase of the Property shall be closed on or before May 1, 2017 (the “Closing”). The Closing shall take place at the offices of the Escrow Agent or by mail.

6. Title to Property. At the Closing, Seller agrees to convey title to the Property to Buyer as directed by Buyer by Special Warranty Deed, free and clear of all claims, liens and encumbrances except real estate property taxes and municipal liens.

7. Taxes. Taxes will not be pro rated through Closing. Buyer is responsible for all taxes.

8. Warranty. Seller makes no warranties or representations of any kind or character, express or implied, with respect to the Property, including, but not limited to, warranties or representations as to matters of title, zoning, tax consequences, physical or environmental conditions, availability of access, ingress or egress, operating history or projections, valuation, governmental approvals, governmental regulations or any other matter or thing relating to or affecting the Property including, without limitation: (i) the value, condition, merchantability, habitability, marketability, profitability, suitability or fitness for a particular use or purpose of the Property; (ii) the manner or quality of the construction or materials incorporated into any of the Property; and (iii) the manner, quality, state of repair or lack of repair of the Property. Buyer agrees that with respect to the Property, Buyer has not relied upon and will not rely upon, either directly or indirectly, any representation or warranty of Seller or any agent of Seller. Buyer represents that he is relying solely on his own expertise and that of Buyer’s consultants, and that Buyer will conduct such inspections and investigations of the Property, including but not limited to, the physical and environmental conditions thereof, and shall rely upon same, and upon closing, shall assume the risk that adverse matters, including but not limited to adverse physical and environmental conditions, may not have been revealed by Buyer's inspections and investigations. Buyer acknowledges and agrees that Seller sells and conveys the Property under this Agreement and that Buyer accepts said Property "as is, where is", with all faults, liens and encumbrances. Buyer further acknowledges and agrees that there are no oral agreements, warranties or representations, collateral to or affecting the Property by Grantor, any agent of Grantor or any third party.

9. DISCLOSURES:

(a) RADON GAS: Radon is a naturally occurring radioactive gas that, when it is accumulated in a building in sufficient quantities, may present health risks to persons who are exposed to it over time. Levels of radon that exceed federal and state guidelines have been found in buildings in Florida. Additional information regarding radon and radon testing may be obtained from your county health department.

(b) MOLD: Mold is naturally occurring and may cause health risks or damage to property. If Buyer is concerned or desires additional information regarding mold, Buyer should contact an appropriate professional.

(c) ENERGY BROCHURE: Buyer acknowledges receipt of Florida Energy-Efficiency Rating Information Brochure required by Section 553.996, F.S.

(d) LEAD-BASED PAINT: If Property includes pre-1978 residential housing, a lead-based paint rider is mandatory and Buyer acknowledges having received such rider.

(e) HOMEOWNERS’ ASSOCIATION/COMMUNITY DISCLOSURE: BUYER SHOULD NOT EXECUTE THIS CONTRACT UNTIL BUYER HAS RECEIVED AND READ THE HOMEOWNERS’ ASSOCIATION/COMMUNITY DISCLOSURE, IF APPLICABLE.

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(f) PROPERTY TAX DISCLOSURE SUMMARY: BUYER SHALL NOT RELY ON THE SELLER’S CURRENT PROPERTY TAXES AS THE AMOUNT OF PROPERTY TAXES THAT THE BUYER MAY BE OBLIGATED TO PAY IN THE YEAR SUBSEQUENT TO PURCHASE. A CHANGE OF OWNERSHIP OR PROPERTY IMPROVEMENTS TRIGGERS REASSESSMENTS OF THE PROPERTY THAT COULD RESULT IN HIGHER PROPERTY TAXES. IF YOU HAVE ANY QUESTIONS CONCERNING VALUATION, CONTACT THE COUNTY PROPERTY APPRAISER’S OFFICE FOR INFORMATION.

(g) TAX WITHHOLDING: If Seller is a “Foreign Person” as defined by the Foreign Investment in Real Property Tax Act (“FIRPTA”), Buyer and Seller will comply with FIRPTA, which may require Seller to provide additional cash at Closing.

10. The Buyer has personally inspected this property and acknowledges that by entering into this contract Buyer is agreeing to accept the property in its "AS IS, WHERE IS" condition, WITH ALL FAULTS and releases Seller from any and all liability relating to any defect or deficiency affecting said Property, said release shall survive the closing of this transaction.

11. The Buyer may, prior to closing date, have the property surveyed at his expense. Sale of property shall not be contingent on results of any surveys or inspections and Buyer agrees property is being sold on an “AS-IS, WHERE-IS” basis.

12. This Contract is not contingent upon the Buyer obtaining financing.

13. Risk of Loss. The risk of loss prior to the closing of the sale shall be borne by Seller. If all or a substantial portion of the improvements on the property are destroyed or damaged prior to the closing and transfer of title this agreement shall be voidable at Buyer’s option and in the event Buyer elects to void this agreement the earnest money deposited shall be promptly refunded.

14. Failure of Performance. If Buyer fails to perform this Agreement within the time specified, including payment of the Deposit, then as Seller’s sole remedy and upon notice to Buyer, Seller may declare this Agreement terminated and retain the Deposit as liquidated and agreed upon damages in full settlement of any claims, and thereupon Buyer and Seller shall be released of all obligations under this Agreement. The parties agree that this is a fair estimate of Seller’s damages in the event of default by Buyer. If Seller fails to perform this Agreement within the time specified, Buyer’s sole remedy shall be to receive the return of the Deposit.

15. Attorneys’ Fees; Costs; Governing Law; Jurisdiction. In any litigation, including breach, enforcement or interpretation, arising out of this Agreement, the prevailing party shall be entitled to recover reasonable attorneys’ fees and costs. This Agreement shall be governed in accordance with the laws of the State of Florida, without reference to conflicts of laws principles. The parties agree the United States Bankruptcy Court for the Middle District of Florida, Tampa Division shall have sole and exclusive jurisdiction over any dispute related to, or arising out of, this Agreement.

16. WAIVER OF JURY TRIAL. THE PARTIES VOLUNTARILY AND KNOWINGLY WAIVE ANY RIGHT TO A JURY TRIAL WITH RESPECT TO ANY CLAIM OR DISPUTE THAT ARISES OUT OF OR RELATES TO THIS AGREEMENT TO THE FULLEST EXTENT ALLOWED BY LAW.

17. Entire Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties with respect to the subject matter hereof and supersedes all prior negotiations, correspondence, agreements, understandings, duties or obligations among the parties with respect to the subject matter hereof. No change or modification of this Agreement shall be valid, unless the same is in writing and signed by the parties hereto. No waiver of any provision of this Agreement shall be valid unless in writing and signed by the party against which it is sought to be enforced.

18. Binding Effect. This Agreement shall be binding upon and inure to the benefit of the parties hereto, and their respective heirs, personal representatives, successors, and assigns.

19. Time. Any time period provided for in this Agreement which shall end on a Saturday, Sunday, or legal holiday shall extend to 5:00 p.m. of the next business day. Time is of the essence in this Agreement.

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IN WITNESS WHEREOF, Seller and Buyer have duly executed and delivered this Contract for Sale and Purchase as of the day and year first above written.

SELLER:

Bankrupt Estate of Namal Enterprises, LLC, Case No. 8:16-bk-07190-MGW

BUYER:

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EXHIBIT A

DESCRIPTION OF REAL PROPERTY

Parcel “C” of Kyngs Heath III, Phase III, according to Plat thereof as recorded in Plat Book 5, Page(s) 2, of the Public Records of Osceola County, Florida.

DESCRIPTION OF PERSONAL PROPERTY

All Consumables, Operating Equipment, fixtures, furniture, furnishings, fittings, equipment, machinery, apparatus, appliances and other articles of tangible or intangible personal property now located on the Real Property as of the date of this Agreement and used or usable in connection with any present or future occupation or operation of all or any part of the Real Property, subject to such depletion and restocking as shall be made in the normal course of business. The term "Fixtures and Tangible Personal Property" does not include equipment leased by Seller and the interest of Seller in any equipment provided to the Real Property for use pursuant to Hotel Contracts but not owned or leased by Seller, or property owned or leased by guests, employees or other persons furnishing goods or services to the Real Property.

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