Alberta · Receivership (court-appointed)
Affidavit of Jocelyn Dufort
Affidavit · 6 March 2023
AI summary
A plain-English summary drawn only from this filing: what it is, why it matters, and the parties, amounts and dates it turns on.
What we verified from this filing2 verified
- secured creditorsnote: Amount stated ($2,650,000) is the original vendor take-back mortgage amount, not a confirmed current balance. Subordination/cession of rank confirmed via Priority and Standstill Agreement dated July 7, 2016: Subordinate Lender's mortgage ranks behind Otera's Mortgage; upon default, amounts owing to Subordinate Lender must be paid directly to Otera and any funds received are held in trust for Otera. · page: 2 · debtor: Plaza 1000 Ltd. · creditor: 255848 Alberta Ltd. ("Subordinate Lender") · currency: CAD · security: Vendor take-back mortgage (original advance/registered amount $2,650,000) against the Property, subordinate to Otera's first Mortgage
- secured creditorsnote: Para 28 states indebtedness 'as of February 17, 2022' at $12,138,743.02 (prose approximation) plus accruing interest/costs; Exhibit table breaks this down as Principal Outstanding $12,121,569.06 + Outstanding Interest $22,826.60 = Total $12,144,395.66, per diem $1,431.16 (exact dated balance used as amount per document's own table). Plaza 1000 in default under Loan Agreement/Security; NOI issued Feb 21, 2023. · page: 6 · as of: 2022-02-17 · amount: 12144395.66 · debtor: Plaza 1000 Ltd. · creditor: Otera Capital Inc. · currency: CAD · security: Mortgage dated July 7, 2016 (principal amount $21,575,000, registered charge - not the balance) against the Property/Lands; General Assignment of Rents and Leases (GALR) dated July 7, 2016; General Security Agreement (GSA) dated July 7, 2016 over all present and after-acquired personal property