DISTRICT COURT COUNTY OF PITKIN COLORADO Pitkin County Courthouse H, TD Document 506 East Maln Street Suite 1 County Dist! let Court 9th JD Aspen 31611 11 ng, Data, Dec IZ 2011 1 MPM Ms; ID 41344691 Plaintiff HYPO REAL ESTATE CAPITAL CORPORATION a Delaware corporation Defendant BASE VILLAGE OWNER LLC a Delaware limited liability ??mpa"y couRT USE Attorney or Party Without Attorney Case Number 2010 cv 249 Name Jeffrey Smith (#31038) COOLEY LLP Address: 3 80 Interlocken Crescent Suite 900 Broomfield, CO 80021 Phone Number' (720) 566 4000 Fax Number (720) 566 4099 Email Address' smith I coole .com lgvigyy' Clerk: Janna GOIdSt0n'c JOINT MOTION BY PLAINTIFF AND THE RECEIVER TO WIND UP RECEIVERSHIP Plaintiff Hypo Real Estate Capital Corporation ("Hypo") and the Receiver Destination Snowmass Services, Inc. (the i'Receiver") jointly move the CoLu't for an order to Wind up the yy__ 1. On July 8, 2010, Hypo commenced this action seeking the appointment of a receiver pursuant to a deed of trust granted to Hypo by Defendant Base Village Owner, LLC. 2. On July 9, 2010, the Court entered its Order appointing Destination Snowmass Services as Receiver for the Receivership Properly as defined in the Order. 3. On November 16, 2011, the Public' Trustee for Pitkin County conducted foreclosure 'sale no. 10-080 regarding the real properly that was part of the Receivership Property. Hypo made a credit bid of $138,000,000 There were no other bidders at the sale. Consequently, Hypo is the holder of the certificate of purchase. 4. Any notice of intent to redeem must be filed with the Pitkin County Public Trustee Within eight business days o_f the foreclosure sale. Colo. Rev. Stat. 38-38-302 - 501. No notices of intent to redeem were filed and, thus, the title to the real property vested in Hypo. 5. On December 1, 2011, a public foreclosure sale was held pursuant to Article 9 of the Colorado Uniform Commercial Code with respect to all tangible personal property that was secured by the deed of the trust. Hypo made a credit bid at the sale. There were no other bidders at the sale so Hypo was the high bidder and now has title to the personal properly. The time period to redeem from the U.C.C. sale has expired. 6. Paragraph 14 of the Order states that "The Receiver shall continue in possession of the Receivership Property during the period of redemption after a foreclosure sale and during such fLu'ther period as the Court may order." 7. The foreclostue proceedings are no longer pending, and the statutory redemption periods have expired. Hypo and the Receiver are in agreement that is now appropriate to Wind up and conclude the receivership. Hypo and the Receiver reasonably believe that it will take up to January 16, 2012, to wind up the receivership. 8. The Receiver is in the process of notifying all vendors and other creditors of the Receivership Estate that the Receiver is delivering possession of the Receivership Property to Hypo and that all such vendors and other creditors shall have until December 22, 2001 to provide the Receiver iinal invoices. 2 9. The Receiver is also in the process of preparing a final report that it anticipates will be filed with the Court by January 16, 2012. Upon the Court's approval of the final report, Hypo and the Receiver will tile a motion and proposed order to terminate the receivership and discharge the Receiver._ WHEREF ORE for the foregoing reasons, Hypo and the Receiver respectfully request that the CoLu?t enter an order directing the Receiver to Wind up the Receivership and file a final report on or before January 16, 2012. A proposed order is tendered herewith. Dated: December 12, 2011. By: Jeirey A. Smith* Jeffrey A. Smith (#3103 8) COOLEY LLP 380 Interlocken Crescent Suite 900 Broomfield, CO 80021-8023 Telephone: (720) 566-4000 Attorneys _for HYPO REAL ESTATE CAPITAL CORPORATION, Byifs/ Thomsl Todd* to to to Thomas J. Todd (#l6289) HOLLAND HART LLP 600 East Main Street, Suite 104 Aspen, CO 81611 Telephone: (970)925-3476 Attorneys for the Receiver. In accordance with C.R.C.P. 121 a printed copy of this document with original signatures is being maintained by the filing party and will be made available for inspection by other parties or the Court upon request. - 3 CERTIFICATE OF SERVICE I hereby certify that a true and correct copy of the foregoing JOINT MOTION BY PLAINTIFF AND THE RECEIVER T0 WIND UP RECEIVERSHIP was served via LexisNexis File Serve this 12th day ofDecen1ber, 2011 addressed to: Thomas J. Todd Christopher J. Heaphey HOLLAND HART LLP 600 East Main Street, Suite 104 Aspen, CO 81611 ttodd@hol1andhart.co1n cjheaphey@holIandhart.com Tracy L. Ashmore Robert a. Holmes Stephen Rynerson I-IOLME ROBERTS OWEN LLP 1700 Lincoln Street, Suite 4100 Denver, CO 80203 tracy.ashn1ore@hro.com bob.hohnes@hro.com stephen.1ynerson@hro.com Jeiey Smith 4