NOTICE OF TRUSTEE’S SALE

The following legally described trust property will be sold, pursuant to the power of sale under the Multifamily Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing (“Deed of Trust”) recorded on January 30, 2004 in the records of Maricopa County, Arizona, as Document No. 2004-0100658 at public auction to the highest bidder, at the principal place of business of Trustee located at 3003 North Central Avenue, Suite 2600, Phoenix, Maricopa County, Arizona 85012, on Thursday, February 24, 2011, at the hour of 10:00 o’clock A.M. of said day: SEE EXHIBIT “A” ATTACHED HERETO AND INCORPORATED HEREIN. Exhibit “A”. Legal Description of Trust Property. ALL REAL AND PERSONAL PROPERTY SET FORTH IN THE DEED OF TRUST INCLUDING, WITHOUT LIMITATION: THE LAND REFERRED TO BELOW, WHICH IS SITUATED IN THE STATE OF ARIZONA, COUNTY OF MARICOPA, AND IS DESCRIBED AS FOLLOWS: Lots 1 through 10 and 22 through 58, DESERT WEST, according to Book 102 of Maps, page 43, records of Maricopa County, Arizona; EXCEPT all fissionable materials and all uranium, thorium and other materials determined to be essential to the production of fissionable material as reserved in instrument recorded in Docket 1144, page 440, records of Maricopa County, Arizona. At the same time and location, Trustee, pursuant to A.R.S. §47-9604, will sell the personal property and fixtures, as set forth more fully in EXHIBIT “A”, attached hereto and incorporated herein. EXHIBIT “A”. (Description of Personal Property). All Personal Property set forth in the Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing recorded on January 30, 2004 in the records of Maricopa County, Arizona, as Document No. 2004-0100658 (the “Deed of Trust”), including without limitation (any capitalized terms not defined herein shall have the meaning given to them in the Deed of Trust): (ii) “Mortgaged Property” means all of Borrower’s present and future right, title and interest in and to all of the following: (1) the Land; (2) the Improvements; (3) the Fixtures; (4) the Personalty; (5) all current and future rights, including air rights, development rights, zoning rights and other similar rights or interests, easements, tenements, rights-of-way, strips and gores of land, streets, alleys, roads, sewer rights, waters, watercourses, and appurtenances related to or benefitting the Land or the Improvements, or both, and all rights-of-way, streets, alleys and roads which may have been or may in the future be vacated; (6) all proceeds paid or to be paid by any insurer of the Land, the Improvements, the Fixtures, the Personalty or any other part of the Mortgaged Property, whether or not Borrower obtained the insurance pursuant to Lender’s requirement; (7) all awards, payments and other compensation made or to be made by any municipal, state or federal authority with respect to the Land, the Improvements, the Fixtures, the Personalty or any other part of the Mortgaged Property, including any awards or settlements resulting from condemnation proceedings or the total or partial taking of the Land, the Improvements, the Fixtures, the Personalty or any other part of the Mortgaged Property under the power of eminent domain or otherwise and including any conveyance in lieu thereof; (8) all contracts, options and other agreements for the sale of the Land, the Improvements, the Fixtures, the Personalty or any other part of the Mortgaged Property entered into by Borrower now or in the future, including cash or securities deposited to secure performance by parties of their obligations; (9) all proceeds from the conversion, voluntary or involuntary, of any of the above into cash or liquidated claims, and the right to collect such proceeds; (10) all Rents and Leases; (11) all earnings, royalties, accounts receivable, issues and profits from the Land, the Improvements or any other part of the Mortgaged Property, and all undisbursed proceeds of the loan secured by this Instrument and, if Borrower is a cooperative housing corporation maintenance charges or assessments payable by shareholders or residents; (12) all Imposition Deposits; (13) all refunds or rebates of Impositions by any municipal, state or federal authority or insurance company (other than refunds applicable to periods before the real property tax year in which this Instrument, is dated); (14) all tenant security deposits which have not been forfeited by any tenant under any Lease; and (15) all names under or by which any of the above Mortgaged Property may be operated or known, and all trademarks, trade names, and goodwill relating to any of the Mortgaged Property. According to the Deed of Trust or upon information supplied by the Beneficiary, the street address or identifiable location of the trust property is: APN: 109-24-007B, Property Description/Address: 512 North 34th Drive, Phoenix, AZ 85009, County: Maricopa; 109-24-008, 508 North 34th Drive, Phoenix, AZ 85009, Maricopa; 109-24-009A, 502 North 34th Drive, Phoenix, AZ 85009, Maricopa; 109-24-010, 422 North 34th Drive, Phoenix, AZ 85009, Maricopa; 109-24-011, 416 North 34th Drive, Phoenix, AZ 85009, Maricopa; 109-24-012A, 412 North 34th Drive, Phoenix, AZ 85009, Maricopa; 109-24-013, 408 North 34th Drive, Phoenix, AZ 85009, Maricopa; 109-24-014, 402 North 34th Drive, Phoenix, AZ 85009, Maricopa; 109-24-026A, 3301 West Fillmore Street, Phoenix, AZ 85009, Maricopa; 109-24-027A, 3412 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-028, 3408 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-029A, 3402 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-030, 3342 West 100th Avenue, Phoenix, AZ 85009, Maricopa; 109-24-034B, 3322 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-035, 3316 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-036A, 3312 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-037, 3308 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-038A, 3302 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-040A, 3411 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-042B, 3341 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-062D, DESERT WEST MCR 102-43 LOT 39, Maricopa; 109-24-063, 3331 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-062E, 3315 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-048B, 3311 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-050A, 3307 West Taylor Street, Phoenix, AZ 85009, Maricopa; 109-24-052A, 3412 West Polk Street, Phoenix, AZ 85009, Maricopa; 109-24-053, 3402 West Polk Street, Phoenix, AZ 85009, Maricopa; 109-24-054, 3342 West Polk Street, Phoenix, AZ 85009, Maricopa; 109-24-062B, 3336 West Polk Street, Phoenix, AZ 85009 Original Principal Balance: $7,550,000.00 Name And Address Of Beneficiary: Zions First National Bank, as Trustee, a National Banking Association, 550 South Hope Street, Suite 2650, Los Angeles, CA 90071, Attn: Corporate Trust Division, Name And Address Of Original Trustor(s): Sunrise Villas Partners, LP, c/o Pacific Housing Advisors, 2033 6th Avenue, Suite 1010, Seattle, WA 98121 Name, Address And Telephone Number Of Trustee: Nicolas B. Hoskins, Esq., Fennemore Craig, P.C., 3003 N. Central Avenue, Suite 2600, Phoenix, AZ 85012, Telephone: (602) 916-5000. FOR INFORMATION CONCERNING THIS LOAN, CONTACT MIA SALAM AT FENNEMORE CRAIG (602) 916-5712. Signature of Trustee: /s/ Nicolas B. Hoskins, Trustee, Manner of Trustee Qualification: Member of the State Bar of Arizona, Name Of Trustee’s Regulator: State Bar of Arizona (Arizona Supreme Court). DATED this 23rd day of November, 2010. A Statement of Breach or Nonperformance is attached to the recorded original of this Notice (but not the published copy) as Schedule “1”. Schedule “1”. STATEMENT OF BREACH OR NONPERFORMANCE (Attached to the recorded original of this Notice but not the published copy) SUNRISE VILLAS PARTNERS, LP, a limited partnership organized and existing under the laws of the State of Arizona (“Trustor”), is Trustor under the Multifamily Deed of Trust, Assignment of Rents, Security Agreement and Fixture Filing, (“Deed of Trust”) recorded on January 30, 2004 in the records of Maricopa County, Arizona, as Document No. 2004-0100658. The following described breach or nonperformance of the duties and obligations imposed under the Deed of Trust or contract secured by the Deed of Trust has occurred: Trustor failed to make payments required under the Note, dated January 1, 2004, secured by the Deed of Trust. The delinquency consists of the payments due September 1, 2010 and continuing through the date of this Statement of Breach or Nonperformance together with all late charges, delinquency payments and other amounts due under the Deed of Trust or contract secured thereby. Further, all amounts due under the Note have been accelerated as a consequence of Trustor’s delinquency. ZIONS FIRST NATIONAL BANK, as Trustee, a National Banking Association, as Beneficiary under the Deed of Trust, hereby elects to sell, or cause to be sold, the property covered by the Deed of Trust and described in the Notice of Trustee’s Sale to which this Statement of Breach or Nonperformance is attached as Schedule “1” (the “Trust Property”). THE INTEREST OF ALL PERSONS HAVING AN INTEREST IN THE TRUST PROPERTY SUBORDINATE TO THIS DEED OF TRUST MAY BE SUBJECT TO BEING TERMINATED BY THE TRUSTEE’S SALE OF THE TRUST PROPERTY. ZIONS FIRST NATIONAL BANK, as successor Trustee, a National Banking Association, By: /s/ Joni D’Amico, Its: Vice President. STATE OF CALIFORNIA)) ss. County of Los Angeles) This instrument was acknowledged before me this 22nd day of November, 2010 by Joni D’Amico, the Vice President of ZIONS FIRST NATIONAL BANK, as successor Trustee, a National Banking Association, on behalf of said national banking association. /s/ Rosa Esther Munoz, Notary Public, My Commission Expires: October 3, 2012. STATE OF ARIZONA)) ss. COUNTY OF MARICOPA) This instrument was acknowledged before me this 23 day of November, 2010 by Nicolas B. Hoskins, Trustee. /s/ Susan Honsa, Notary Public, My Commission Expires: January 8, 2014.
1/14, 1/21, 1/28, 2/4, 2011 editions Arizona Capitol Times