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路1路 路not fit for community use except for a small
路2路 路amount, maybe.路 And, frankly, there is no way to
路3路 路get access to that property even if that could
路4路 路occur.路 It is condemned property.路 Tenants aren't
路5路 路allowed to go there.
路6路 路 路 路 路 路 The Court also heard testimony about the
路7路 路amount of the deficiency that was proffered.路 And
路8路 路Fourleaf is willing to give up that deficiency to
路9路 路allow for the disposition of the remaining
10路 路personal property and the sale to go through, and
11路 路it's a $5-million amount.路 We are not necessarily
12路 路saying that the guarantor is going to write a
13路 路check for $5 million, but there is a synergy here,
14路 路and that synergy is that we are going to be suing
15路 路the -- pursuing the guarantors -- tenant's counsel
16路 路is going to be pursuing the guarantor.路 They have
17路 路to prove all of the damages for each one of these
18路 路tenants.路 We have a guarantee with the confession
19路 路of judgment provision.路 So it is very likely that
20路 路we would get there first and whatever funds this
21路 路guarantor had, we would get.
22路 路 路 路 路 路 By giving this to the tenants, there is
23路 路one person pursuing that guarantor.路 We think that
24路 路creates a synergy that is, frankly, in everyone's
25路 路best interest.路 And, also, there is -- there is an
Case 25-23251-MEH Doc 36 Filed 12/30/25 Entered 12/30/25 17:29:32 Desc Main
Document Page 36 of 54
Transcript of Proceedings - December 03, 2025
Transcript of Proceedings - December 03, 2025
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