Furr's Supermarkets, Inc.

OCR transcription for search; preserved printed pages are authoritative

UNITED STATES BANKRUPTCY COURT
DISTRICT OF NEW MEXICO

PACER Cover Sheet
for Electronically Filed Documents

Any data shown here are current as of 06/14/06 . Any element of information on this form,
except the received date, is subject to change as changes may be made to the Court's official docket.

Case Title. Furs Supermarkets, Inc.

Case Number: 01-10779

Description: Order Granting [1535-1] Trustee Yvette Gonzales' Motion To extend Time within
which the debtor may assume or reject the El Paso Warehouse lease through
6/30/02 .

Received on: 2002-02-15 10:09:26.000

Date Filed: 2002-02-15 10:09:26.000

Date Entered On 2002-02-15 00:00:00.000

Docket:

| Filer Information

Submitted By:

If this form is attached to the document identified above, it serves as an endorsed copy of the
document as it exc existed on the above date. ‘To confirm that nothing has changed since then,
review

Us. cova eR -10779-nlj7 Doc1567 Filed 02/15/02 Entered 02/15/02 16:08:00 Page 1 of 7

GPO

UNITED STATES BANKRUPTCY COURT

DISTRICT OF NEW MEXICO
In re:

FURR’S SUPERMARKETS, INC., Case No. 11-01-10779-SA
Debtor. Chapter 11

ORDER EXTENDING TIME WITHIN WHICH TRUSTEE MAY ASSUME OR
REJECT UNEXPIRED LEASE OF EL PASO DISTRIBUTION CENTER

On January 29, 2002, Yvetle J. Gonzales, the duly appvinted Chapter 7 trustee

(the "Trustee"), filed her Motion to Extend Time Within Which the Debtor May Assume
or Reject the El Paso Warehouse Lease (the "Motion") and the Court, being duly advised
in the premises; having taken evidence on the matter, reviewed the briefs submitted by
the parties, and heard arguments of counsel; and being otherwise duly advised in the
premises, hereby FINDS:

A. Notice of the Motion was good and sufficient under the circum-
stances and no further notice is or shall he required.

B. The objection to the Motion filed by El Paso Properties Corp. (“El
Paso”) was timely filed.

Cc. Good and sufficient cause exists to extend the time within which
the Trustee must elect to assume or reject the unexpired lease of the warehouse property
located at 9820 Railroad Drive and 9601 Railroad Drive in El Paso, Texas (the “Ware-

house Lease’’), subject to the terms and conditions of this Order.

PI-810904 v2 0104040-0733

Case 01-10779-nlj7_ Doc 1567 Filed 02/15/02 Entered 02/15/02 16:08:00 Page 2 of 7

D. The Court incorporates by reference its oral findings of fact and
conclusions of law read into the record on February 13, 2002, pursuant to Bankruptcy
Rule 7052.

In view of the foregoing, the Court hereby ORDERS:

1. Extension of Deadline to Assume or Reject the Warehouse Lease.

The last day for the Trustee to assume or reject the Warehouse Lease shall be extended
until June 30, 2002, so long as the Trustee fully and timely complies with each and all of

the requirements set forth below.

2. February 17, 2002 Deadline for Payments. On or before 11:59

p.m. MDF on Sunday, February 17, 2002, the Trustee shall pay to Kirkpatrick &

Lockhart LLP, counsel for El Paso, the following amounts:

Two months of rent: $44,000.00
Two months of property taxes $36,633.74
Rent for 2/18/02-2/28/02 $ 9,428.57
Taxes for 2/18/02-2/28/02 $ 7,850.09
Total $97,912.40

The total amount can be paid by wire transfer to the trust account of Kirkpatrick &
Lockhart LLP (Mr. Cheever shall forward accurate and complete wiring instructions to
the Trustcc’s counsel by 5:00 pm. MDT on [February 14, 2002), or by cashier’s check
payable to Kirkpartick & Lockhart LLP, and delivered to Kirkpatrick & Lockhart LLP at
the address set forth below.

3. February 17, 2002 Deadline tor Insurance Coverage. On or before

11:59 p.m. MDT on Sunday, February 17, 2002, the Trustee shall deliver by facsimile or

2.

Case 01-10779-nlj7 Doc1567 Filed 02/15/02 Entered 02/15/02 16:08:00 Page 3 of 7

“hard copy” to George Cheever, a member of the firm of Kirkpatrick & Lockhart LLP, at
the address and/or fax number set forth below, customary evidence that the property
subject to the Warehouse Lease is insured, with at least $7,500,000 of insurance for
property and $1,000,000 of insurance for liability, for a period of at least three months.
The insurance policy or policies shall show the following parties as additional loss payees
and additional insureds, as their interests may appear:

El Paso Properties Corp.

Janus Financial Corporation

Janus Associates

Rosemary G. Daly

Richard O. Jacobson

4. Subsequent Monthly Deadlines. On or before 5:00 p.m. MDT on

February 28, 2002, and on or before the last business day of each month thereafter, the
Trustee shall deliver to Mr. Cheever by check payable to Kirkpatrick & Lockhart LLP
and delivered to Kirkpatrick & Lockhart LLP at the address set forth below, or by wire

transfer per the instructions Mr. Cheever shall deliver to the Trustee’s counsel, the

following:

a. Rent for the coming month in the amount of $22,000 per
month;

b. Taxes for the coming mouth in the amount of $18, 316.87
per month; and

c, Evidence (unless previously provided) that the leased

premises are insured for the three coming months, in accordance with paragraph 3 above.

Case 01-10779-nlj7 Doc1567 Filed 02/15/02 Entered 02/15/02 16:08:00 Page 4 of 7

Delivery of the funds by a check drawn to the order of Kirkpartick & Lockhart
LLP on one of the Trustee’s bank accounts shall be sufficient, so long as the check is not
dishonored upon presentment for payment in the normal course of business.

‘. Utilities. The Trustee shall cause all utilities to be and remain in
full service and all bills for utility service after December 19, 2001 to be paid in full ona
current basis. If any utility service is not currently connected, the Trustee shall use due
diligence to have the service connected and then shall pay all bill in full on a current
basis. Telephone service will be promptly connected only if required for insurance
purposes.

6. Detault. I, at any time on or before June 30, 2002, the Trustee de-
faults in any of her obligations set forth in this Order, including without limitation, the
continuous effectiveness of the insurance coverage as provided in paragraph 3 above,
then the Warehouse Lease shall be deemed automatically and irrevocably rejected as of

the date of default without any further action by Fl Paso or this Court.

7. Access to the Leased Premises. The Trustee shall give the Land-

lord and its agents reasonable access to the leased premises for the purposes of inspection
and protection of the premises and similar matters, and shall provide updates as to the

efforts to market the Warehouse Lease upon reasonable request from time to time, El

Case 01-10779-nlj7 Doc1567 Filed 02/15/02 Entered 02/15/02 16:08:00 Page 5 of 7

Paso and its agents may also confer directly with the Trustee’s lis

ng aggnt with regard

to the status of such marketing efforts.

Cc
THE HONORABLE JAMES ‘unde |

UNITED STATES BANKRPPTCY JUDGE

Submitted by:

JACOBVITZ T AM& WALKER
A Profession

By:

David T. Thuma
500 Marquette N.W., Suite 650
Albuquerque, New Mexico 87102
(505) 766-9272
(505) 766-9287 (fax)

Attorneys for the Trustee

Approved:

MODRALL, SPERLING, ROETIL, HARRIS & SISK, P.A,

? é
By: £6 le! phil z
Pati M. Fish ,
500 4th St., N.W., #1000
Albuquerque, New Mexico 87103-2168
(505) 848-1800
Attorneys for Heller Financial, Inc., as agent for Fleet Capital
Corporation, Bank of America N.A., and Heller Financial, Inc.
5-

Case 01-10779-nlj7 Doc1567 Filed 02/15/02 Entered 02/15/02 16:08:00 Page 6 of 7

JENNIE BEHLES & ASSOCIATES, P.A.

By: GMa Lf Bled
Jennie D.Behles ° ”
P.O. Box 849
Albuquerque, NM 87103
(505) 243-9756
Attorneys for Metropolitan Life Insurance Company

Approved as to form:

KIRKPATRICK & LOCKHART LLP

By: typ otpyl wl fe 2
George M. Cheever °
535 Smithfield Street
Pittsburgh, PA 15222-2312
(412) 355-6500
(412) 355-6501 (fax)
Attorneys for El Paso Properties Corp.

and Janus Financial Corporation

| ;
or greby certify that 4 true and correct co
rane it egeoing was either electronically
the Gd, faxed, delivered or Mailed t
sted counsel and Parties on:

FEB 1 5 2002

Mary B. Anderson

Case 01-10779-nlj7 Doc1567 Filed 02/15/02 Entered 02/15/02 16:08:00 Page 7 of 7