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Case 25-23251-MEH Doc18-11 Filed 12/22/25 Entered 12/22/25 20:08:18 Desc
Exhibit J Page 7 of 15
Receiver in the following order: (a) first to pay all the customary and reasonable costs of
consummating the sale of the Property to Purchaser, including but not limited to, the grantor’s tax,
the Broker’s commission, and any past due real estate tax obligations that accrue prior to the sale,
in addition to any items stated in the Sale Agreement and reflected on the settlement statement
approved by the Receiver in connection with the sale; (b)then, because the remaining Proceeds
will be substantially less than the balance due Lender on the Note, the remaining Proceeds shall
be disbursed to Lender (which shall be referred to as the “Lender Release Fee”).
)
G. Upon the closing of the Sale Agreement{he Purchase (i) will have paid value for
the Property as a third party purchaser, (ii) will have acted in good faith in connection with its
purchase of the Property, (iii) will not be a successor-in-interest to Seaview, and (iv) will have
acquired the Property free and clear of any liabilities of Seaview as of the date of the closing. As
a result, the Purchaser, as a bona fide purchaser for value, shall not be subject to any claim of any
sort by any party against Seaview and relating to the Property or the Personal Property, including,
but not limited to, any former tenant or occupant of the Property or any other claimants described
on Exhibit B.
H. Because Seaview did not transfer any security deposits to the Receiver, despite
requests, certain tenants are in litigation with Seaview seeking the return of their security deposits.
The sale contemplated herein does not include the transfer of any security deposits to Purchaser,
and Va. Code § 55.1-1213 and any similarly applicable provision(s) do not apply to the transaction
contemplated by the Sale Agreement, such that any former tenants of the Property shall not have
any continuing rights or successor liability claims to assert against the Purchaser or against any
subsequent owner of the Property for this or any reason. This Order extinguishes any such rights
or claims that the former tenants of the Property may have otherwise had against the Purchaser.
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[Visually checked handwritten insertion in paragraph G: “notwithstanding anything to the contrary in the Tenant Settlement Documents (defined in Order Para. S)”.]Jump to an indexed page (15 of 15)