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_ Gase 25-23251-MEH Doc 18-11 Filed 12/22/25 Entered 12/22/25 20:08:18 Desc
. Exhibit J Page 3 of 15
Based upon the foregoing, and the allegations of the Sale Motion and the Personal Property
Motion (jointly, the “Motions”), and the evidence proffered and/or introduced at the hearing on
the Motions, the Court finds as follows:
1, Lender filed its Complaint (Petition for the Appointment of a Receiver)
(“Complaint”) on October 16, 2024.
2. Lender is the holder of a promissory note dated June 4, 2021, as may have been
amended from time to time, from Seaview Apartments LLC, a Virginia limited liability company
(“Seaview”), in the original principal amount of Twelve Million and 00/100 Dollars
($12,000,000,.00) (the “Note”).
3. Lender is the beneficiary of a duly perfected first-priority deed of trust lien (subject
to real estate taxes due) on the Property by virtue of a Deed of Trust which conveyed the Property
to Janice E. Garlitz, P.C., as trustee (the “Deed of Trust”). The Deed of Trust was recorded on
June 7, 2021, in the Clerk’s Office of the Circuit Court of the City of Newport News, Virginia
(Clerk’s Office”) as Instrument Number 210012223. Lender is also an assignee under an
Assignment of Rents. The Deed of Trust conveyed the Property to the trustee in trust and for the
benefit of Lender, and the Assignment of Rents assigned to Lender the rents from the Property.
4. The Note, whose obligations are secured by the Deed of Trust and the Assignment
of Rents, is in default.
3. As a result of the foregoing and the additional allegations stated in the Complaint,
pursuant to the express provisions of the Deed of Trust, the Assignment of Rents, Va. Code § 8.01-
591, and for good cause shown, this Court entered an Order Appointing Special Receiver
(“Receivership Order”) on February 11,2025, establishing a receivership for the assets of Seaview.Jump to an indexed page (15 of 15)