Redemption Rights and Avoidance Actions for Sale

Sale of Redemption Rights and Designated Avoidance Actions, and more described as follows:

• The seller’s interest in the Property was sold through a Sheriff’s Sale on August 27, 2019 (the “Sheriff’s Sale”), by credit bid, to Arts District, and on October 3, 2019 a Sheriff’s Certificate of Sale of Real Property was recorded in the Official Records of Clark County, Nevada as Instrument No. 20191003-0002579 transferring the seller’s interest in the Property to Arts District, subject to a one-year right of redemption under NRS 21.190 – NRS 21.200 (“Redemption Rights”) for $231,000.00; and
• The Trustee has alleged that the Judgment, Sheriff’s Sale, and the seller's transfers by Quitclaim Deeds to the Patels and Kunkles may be subject to avoidance under 11 U.S.C. §§ 544, 547, 548, or 550 (“Designated Avoidance Actions”) for $20,000.

Assets is more described on the attached PDF.