Case No. 00-074075.United States Bankruptcy Court, N.D. Illinois, Eastern Division.
May 19, 2003.
ORDER APPROVING SALE FREE AND CLEAR OF LIENS, CLAIMS AND ENCUMBRANCES
MANUEL BARBOSA, United States Bankruptcy Judge
This cause coming to be heard on the Trustee’s Motion For Authority To Sell Real Estate Free And Clear Of Liens, Claims Encumbrances And For Shortened Notice (the “Motion”); notice of the Motion having been provided; the Court having heard any arguments of counsel; and based upon the record at the hearing, THE COURT MAKES THE FOLLOWING FINDINGS OF FACT AND CONCLUSIONS OF LAW:
1. The Court has jurisdiction over the Motion pursuant to 28 U.S.C. § 1334. The Motion and this Order constitute a core proceeding pursuant to 28 U.S.C. § 157.
2. The sale of the Property (as defined in the Motion) is in the best interest of this estate.
3. The sale of the Property comports with the requirements of 11 U.S.C. § 363, and the terms of the sale are fair and reasonable.
4. The Property shall be sold to Salrecon LLC for $30,000
5. The sale of the Property shall be free and clear of liens, claims and encumbrances. The purchaser shall pay any taxes and costs in connection with this sale and with closing. The sale of the Property shall be “as is, where is,” without any responsibility or liability attaching to this estate or to Trustee for, inter alia environmental conditions.
6. The negotiations for the sale of the Property were conducted at arms’ length and in good faith. The buyer is a good faith purchaser pursuant to 11 U.S.C. § 363(m).
ACCORDINGLY, IT IS HEREBY ORDERED THAT:
A. The Motion is granted, and the terms of the sale of the Property are approved. All objections to the sale of the Property have been resolved or are overruled.
B. Trustee is authorized to execute such documents as are necessary to consummate the sale of the Property, including a contract substantially in the form attached to the Motion as Exhibit A.
C. The sale of the Property shall be free of liens, encumbrances, claims, deeds of trust, mortgages and security interests, whether voluntarily arising or arising by operation of law, prior to closing (together, “Encumbrances”). All Encumbrances shall attach to the proceeds of the sale of the Property with the same force, validity and priority as such Encumbrances had on the Property. The purchaser shall pay any taxes and costs in connection with the sale and the closing.
D. Subject to fulfillment of the terms and conditions of the Contract, this Order shall constitute a full assignment, transfer and conveyance of the Property, and all parties, persons and entities are directed to accept this Order as such.
E. This Court shall retain jurisdiction to enforce the terms of this Order and the Contract.
F. Notice of the Motion is deemed sufficient in all respects.
G. This Order is a final order and is effective immediately. The stay provided under Rule 6004(g) shall not apply.