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UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK --------------------------------------------------------x In re: Chapter 11 SONJA TREMONT-MORGAN, et al., Case No. 10-16132 (SCC) Debtors. Substantively Consolidated --------------------------------------------------------x
ORDER AUTHORIZING THE DEBTOR
TO CAUSE STAM COLORADO LLC TO SELL THE COLORADO PROPERTY TO DIPPEL RANCH LLC
Upon the annexed joint application of the Debtor Sonja Tremont-Morgan
(STM or Debtor), John Adams Morgan, and Homeward Residential, Inc., formerly
known as American Home Mortgage Servicing, Inc., as servicer for U.S. Bank National
Association, as Trustee for Zuni Mortgage Loan Trust 2006-OA1, Mortgage Pass-Through
Certificates, Series 2006-OA1, and notice of presentment having been given to all creditors
and parties in interest, and no objection or request for hearing having been filed, and no
adverse interest being represented, it is hereby
ORDERED, that the Debtor, as the 50% owner of Stam Colorado LLC
(Stam Colorado), with John Adams Morgan (JAM) is hereby authorized and
empowered to cause Stam Colorado to close and consummate a short sale of the real
property located in Telluride, Colorado, consisting of two (2) lots known as Lot 2R and
Lot 15B at Gray Head at Telluride with a residence known as 7039 Last Dollar Road,
Telluride, Colorado 81435 (collectively the Property), to Dippel Ranch LLC, pursuant
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to the contract of sale annexed hereto as Exhibit A, for a sale price of $6,800,000; and it is
further
ORDERED, that U.S. Bank National Association, as Trustee for Zuni
Mortgage Loan Trust 2006-OA1, Mortgage Pass-Through Certificates, Series 2006-OA1
(USBNA), as the owner and holder of the deed of trust and note covering the Property,
shall receive $6,366,629.94 on the closing date, at a minimum, from the proceeds of the sale
of the Property to Dippel Ranch LLC; and it is further
ORDERED, that all deficiency or bankruptcy claims against the Debtor, Stam
Colorado, or any of their affiliated non-debtor entities held or filed by USBNA shall be
waived and released upon the sale of the Property to Dippel Ranch LLC and USBNAs
receipt of $6,366,629.94, at a minimum, from the sale proceeds; and it is further
ORDERED, that in consideration for the approval of the short sale to Dippel
Ranch LLC, Stam Colorado, STM, and JAM and their respective past, present and future
owners, employees, agents, executors, administrators, heirs, attorneys, parents, subsidiaries,
shareholders, officers, directors, insurers, trustees, affiliates, parent company, divisions,
investors, servicers, predecessors, assignors, successors and assigns and all persons acting or
purporting to act by, through, under or in concert with them or any of them (collectively
Stam Colorado Releasors) do hereby release and discharge USBNA and its past, present
and future owners, employees, agents, executors, administrators, heirs, attorneys, parents,
subsidiaries, shareholders, officers, directors, insurers, trustees, affiliates, parent company,
divisions, investors, servicers, predecessors, assignors, successors and assigns and all
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persons acting or purporting to act by, through, under or in concert with them or any of
them (collectively USBNA Releasees), from any and all manner of action or actions,
causes of action, suits, debts, dues, torts, breaches of contract, sums of money, accounts,
bills, controversies, trespasses, damages, judgments, executions, claims and demands
whatsoever, in law or equity, which directly or indirectly, or in any other way arise from or
are connected with the deed of trust or note, or which were or could have been asserted in
the bankruptcy action or adversary proceeding (adv. pro. no. 11-02556) ; and it is further
ORDERED, that entry of this Order is without prejudice to any rights, claims
and defenses that Stam Colorado and STM, on the one hand, and JAM, on the other hand,
may have against the other with respect to the Morgans pending matrimonial litigation.
Dated: March 15, 2013 New York, New York /s/ Shelley C. Chapman HONORABLE SHELLEY C. CHAPMAN UNITED STATES BANKRUPTCY JUDGE
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