NOTICE OF PUBLIC SALE OF COLLATERAL
(Pursuant to Arizona Commercial Code Section 47-9613)
NOTICE IS HEREBY GIVEN THAT:
IRON RINGS HOLDINGS, LLC (“Iron Rings”), holds a security interest in the collateral described below which will be sold to the highest bidder at a PUBLIC SALE to be held on July 15, 2021 at 10:00 a.m. local time at the Law Offices of Fennemore Craig, 2394 East Camelback Road, Suite 600, Phoenix, Maricopa County, Arizona, 85016. Iron Rings, by acquisition and assignment, is the Secured Party under that certain Security Agreement dated October 7, 2016, executed by Peoria Lakes, LLC, a Nevada Corporation as Debtor (“Peoria Lakes”), in favor of Peoria Lakes Holdings, LLC as Secured Party. The collateral to be sold is security for that certain indebtedness owed to Secured Party, which indebtedness includes, among other things, the debt evidenced by the Promissory Note dated October 7, 2016 in the principal amount of $140,000.00 (the “Note”) executed by Peoria Lakes in favor of Secured Party. Peoria Lakes is in default under the Note. The Collateral to be sold at such Public Sale consists of:Peoria Lakes’ entire Class A membership interest in Peoria Lakes Holdings, LLC, an Arizona limited liability company, consisting of: (a) all economic rights, including without limitation, all rights to share in the profits and losses of Peoria Lakes Holdings, LLC and all rights to receive distributions of the assets of the Peoria Lakes Holdings, LLC; and (b) all governance rights, including without limitation, all rights to vote, consent to action, and otherwise participate in the management of Peoria Lakes Holdings, LLC. THE SALE SHALL NOT INCLUDE ANY LITIGATION CLAIM WHETHER KNOWN OR UNKNOWN AS OF THE DATE OF THE SALE. FURTHER, THE SALE SHALL NOT INCLUDE BORROWER’S RIGHT, TITLE, OR INTEREST IN ANY LEASE OF REAL PROPERTY TO WHICH THE BORROWER IS A PARTY AS LESSEE.The Collateral described herein will be sold to the person who is the highest bidder at such public sale. Any prospective purchaser will be required to provide evidence that such prospective purchaser is purchasing the collateral for such prospective purchaser’s own investment and its own account and not with a view toward subsequent resale or distribution. Any prospective purchaser who is the highest bidder, other than the Secured Party, will be required to pay the purchase price of the collateral (i) at the time of such public sale, and (ii) in cash, by cashier’s check, or by other immediately available funds. If Secured Party is the highest bidder at such public sale, Secured Party may pay the purchase price of the collateral, in whole or in part, by crediting the amount of the of such purchase price against the balance of the of the unpaid indebtedness evidence by the Note.The sale may be adjourned from time to time and notice of any adjourned sale date will be given only at the time of the scheduled sale and to those who attend the sale.ALL PROPERTY WILL BE SOLD IN ITS “AS IS, WHERE IS” CONDITION, WITH ALL FAULTS, AND WITHOUT WARRANTY OR COVENANT ON THE PART OF THE SECURED PARTY. ANY STATEMENT OR DESCRIPTION IS FOR IDENTIFICATION ONLY.For further information concerning this sale, contact Anthony W. Austin, Esq. at Fennemore Craig, 2394 East Camelback Road, Suite 600, Phoenix, Arizona, 85016 (602) 916-5347.Dated: June 29, 2021SECURED PARTYBy: Kathleen RobinsonIts: ManagerCOPY of the foregoing notice givenby United States Mail, postage pre-paid, on June 29, 2021, to: Peoria Lakes, LLCRobert C. Harris564 Wedge LaneFernley, Nevada 89408
Pub: 7/7, 7/10, 7/14, 2021 Ad#14840
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