Opinion
CIVIL NO. 3-02CV2326-K
April 11, 2004
Movants the United States of America, Washington Mutual Bank, FA, Sarasota, Inc., Donald O. Walsh, and Comp Health, Inc. having requested an order appointing Allie Beth Allman as receiver to take possession of and to arrange for the sale of, certain real property located at 14502 Park Lake Court in Farmers Branch, Texas and 315 and 325 Sunset Avenue in Dallas, Texas (the Properties") more particularly described in Exhibit 1 attached hereto, and for other relief, and good cause having been found, the Court granted the motion for appointment of a receiver and ordered as follows:
IT IS ORDERED THAT:
1. Allie Beth Allman of Allie Beth Allman Associates is appointed as "the Receiver" for the Properties for the purposes of assisting in the enforcement of the federal tax liens and liens held by the other Movants against the Properties, pursuant to 26 U.S.C. § 7402(a) and 7403(d). The Receiver is directed to take possession of the Properties, including all buildings, improvements, fixtures, appurtenances, materials, and equipment thereon, on the 16th day after the date of entry of this Order, to preserve and protect the value of the Properties, to put them into saleable condition, and to arrange for the sale of the Properties.
2. The Receiver shall have the authority to arrange for the sale of the Properties, subject to confirmation by this Court, in any manner approved by the United States. The terms of any purchase agreement shall include the balance of the purchase price paid in cash at closing, and may include an earnest money deposit, in an amount to be approved by the United States, forfeitable upon the purchaser's failure to perform. The closings shall not occur until after the sales of the Properties have been approved by further order of this Court. At closing, the purchaser or purchasers shall receive a quitclaim deed to the Properties executed by the Receiver, In the event a closing takes place prior to an order of this Court regarding the distribution of proceeds, the Receiver shall hold all of the proceeds of any sales of the Properties, net of any closing costs, including any earnest money deposits, in an interest-bearing account until such time as this Court shall make a further order regarding the distribution of those proceeds.
3. The Receiver shall have all of the rights and powers necessary to fulfill her obligations under this Order, specifically including, but not necessarily limited to, the power to enter onto the Properties, to manage the Properties, to collect rents, if any, on the Properties, to advertise the sale of the Properties, and to take any action reasonably necessary to protect and preserve the value of the Properties prior to sale, and to put the Properties into saleable condition, including making expenditures of funds that are first approved by the United States for reasonable and necessary maintenance and improvements, including, but not limited to, liability insurance, and to sell the Properties.
4. The Receiver shall be compensated from the proceeds of the sale of the Properties (a) in an amount equal to six (6) percent of the gross sale proceeds; or if there is another realtor who facilitates the sale, then the Receiver and the purchaser's realtor shall each receive an amount equal to three (3) percent of the gross sale proceeds; and (b) for the reasonable and necessary expenditures to protect and preserve the value of Properties that were first approved by the United States.
5. Defendant Dr. James David Key, Sr., Carolyn D. Putney, and all other persons acting in concert with, or on their behalf, are hereby restrained and enjoined from interfering in any way with the Properties, or with the Receiver, or with the Receiver's efforts to comply with her obligations under this Order, and they are hereby enjoined and restrained from entering onto the Properties on the 16th day after the entry of this Order and permanently thereafter.
IT IS SO ORDERED.
EXHIBIT 1
PROPERTY 1:BEING lot 11 in Block "M", located and situated in the replat of Oakbrook Estates, an addition to the City of Farmers Branch, Dallas County, Texas, according to the map thereof, recorded in Volume 78141, Page 819, map records of Dallas County, Texas; located at 14502 Park Lake Court in Farmers Branch, Dallas County, Texas 75234.
PROPERTY 2:
Being Lots 4, 5, 6, 7, 8, 9, and 10 in Block 42/3162 of DALLAS LAND LOAN COMPANY'S ADDITION TO OAK CLIFF, an Addition to the City of Dallas, Texas, County of Dallas, also known as 315 Sunset Avenue and 325 Sunset Avenue in Dallas, Texas 75208.