PUBLIC NOTICE OF UCC SALE: OAK PLANTATION, LLC

NOTICE OF DISPOSITION OF COLLATERAL UNDER UNIFORM COMMERCIAL CODE

PLEASE TAKE NOTICE THAT CRECFIV Oak Holdings, LLC, a Delaware limited liability company (“Lender”), is the holder of the rights arising from the indebtedness of CORNERSTONE-ICM OAK PLANTATION, LLC, a Delaware limited liability company (“Borrower”) to Lender created by certain agreements evidencing initial indebtedness of $28,250,000.00. Such indebtedness is secured by perfected security interests created by a Pledge and Security Agreement between Lender, as secured party and Borrower as debtor (the “Security Agreement”). Pursuant to the Delaware Commercial Code, the Florida Uniform Commercial Code and the Security Agreement, Lender as Secured Party will offer for sale at a public sale to the highest bidder, (a) OP Development FL, LLC’s (“Pledgor”) 100% membership interest in Borrower, owner of the real property located at 4090 Enchanted Oaks Circle, Kissimmee, Florida 34741, together with the certificates (if any) evidencing the same (“Pledged Interests”); (b) all ownership interests, management rights, membership interests, shares, securities, moneys, instruments or property representing a dividend, a distribution or return of capital upon or in respect of the Pledged Interests, or otherwise received in exchange therefor, and any warrants, rights or options issued to the holders of, or otherwise in respect of, the Pledged Interests; (c) all rights of Pledgor under the Relevant Documents or any other agreement or instrument relating to the Pledged Interests, including, without limitation, (i) all rights of Pledgor to receive moneys or distributions with respect to the Pledged Interests due and to become due under or pursuant to the Relevant Documents, (ii) all rights of Pledgor to receive proceeds of any indemnity, warranty or guaranty with respect to the Pledged Interests, (iii) all claims of Pledgor for damages arising out of or for breach of or default under a Relevant Document, and (iv) any right of Pledgor to perform thereunder and to compel performance and otherwise exercise all rights and remedies thereunder; and (d)                all proceeds of and to any of the property of Pledgor described in clauses (a) through (c) above and, to the extent documenting any property described in said clauses or such proceeds, all books, correspondence, credit files, records, invoices and other papers.   (collectively, “Collateral”). A more detailed inventory may be obtained prior to the sale.  The public sale of the Collateral will be held by Fisher Auction Company at 11:00 AM on Tuesday, October 1, 2024, pursuant to an absolute auction at the offices of Berger Singerman LLP, 201 East Las Olas Boulevard, Suite 1500, Fort Lauderdale, Florida 33301.  Secured Party as Seller will provide no warranty relating to title, possession, quiet enjoyment or the like in this Sale. Secured Party reserves the right to credit bid in such Sale in an amount up to the full outstanding amount of the indebtedness secured by the Security Agreement. To contact the Secured Party and or to receive any information concerning the Collateral to be sold, please send all correspondence to the Secured Party at the following address: c/o Lamar Fisher, Fisher Auction Company, [email protected]; (954)-942-0917; 2112 East Atlantic Boulevard, Pompano Beach, Florida 33062 and Robert W. Barron, Esq., Berger Singerman LLP, 201 East Las Olas Boulevard, Suite 1500, Fort Lauderdale, Florida 33301.