second amended motion for cash collateral

DEBTOR’S MOTION FOR USE OF CASH COLLATERAL - - of 4

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SCOTT J. SAGARIA (BAR # 217981) PATRICK CALHOUN (BAR # 56671) SAGARIA LAW 333 WEST SAN CARLOS STREET SUITE 1700 SAN JOSE, CALIFORNIA 95110 (408) 279-2288 (408) 279-2299 FAX Attorneys for Debtor,

UNITED STATES BANKRUPTCY COURT

NORTHERN DISTRICT OF CALIFORNIA – NORTHERN DIVISION

In Re:

CAL INVESTMENTS INC.,

Debtor.

Case No. 09-59405-RLE Chapter 11 DEBTOR’S SECOND AMENDED MOTION FOR USE OF CASH COLLATERAL Date: February 12, 2010 Time: 1:00 P.M. Judge: Honorable Roger L. Efremsky Courtroom: 3099 Location: 280 S. First Street, 3rd Floor San Jose, CA 95113

SECOND AMENDED MOTION OF CAL INVESTMENTS INC. FOR USE OF CASH

COLLATERAL

CAL INVESTMENTS, INC. (hereinafter Debtor), as debtor and debtor in

possession, files this motion seeking entry of an order, substantially in the form attached

hereto as Exhibit A 1) authorizing the debtor to use Cash Collateral to pay necessary

monthly operating expenses; 2) granting adequate protection to the debtor’s secured

lenders; 3) and granting any other relief the Court deems just and proper regarding the

following properties

Case: 09-59405 Doc# 55 Filed: 02/05/10 Entered: 02/05/10 15:38:51 Page 1 of 4


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Property Address: SecuredCreditor:

a. 1607 Lochbrea Court, Newman, CA 95360 BAC Home Loan Servicing

b. 220 W. Carlton Way, Tracy, CA 95376 Bayview Loan Servicing

c. 17060 El Rancho Way, Salinas, CA 93907 BAC Home Loan Servicing

d. 6265 Andressen Road, Sheridan, CA 95681 Wells Fargo

e. 1007 41st Street, #324, Emeryville, CA 94608 Chase Bank/WAMU

f. 1007 41st Street, #442, Emeryville, CA 94608 Chase Bank/WAMU

g. 1007 41st Street, #532, Emeryville, CA 94608 Chase Bank/WAMU

h. 9888 Holiday Lane, Pinon Hills, CA 92372 PLM Lender Services

i. 221 W Buckthorn St. #23, Inglewood, CA 90301 PLM Lender Services

j. 11006 Coronado Dr., Morongo Valley, CA 92256 PLM Lender Services

k. 2657 Twenty Grand Street, Perris, CA 92571 Citibank

l. 8701 Lodestone Circle, Elk Grove, CA 95624 America’s Servicing

m. 10417 Carriage Road, Grass Valley, CA 95949 Bank of America

n. 5300 Sacramento Ave., Richmond, CA 94804 PLM Lender Services

o. 197 Douglas Ave., Boulder Creek, CA 95006 America’s Servicing

p. 4601 Mountain Blvd., Oakland, CA 94619 Wachovia

q. 3194 Linkfield Way, San Jose, CA 95135 Wachovia

r. 273 Osborn Terrace, Atwater, CA, 95031 World Savings

s. 19340 Diplomat Ave., Corona, CA 92881 Ocwen

t. 2449 Frieda Court, San Pablo, CA 94806 Carrington

u. 35155 Birch Road, Barstow, CA 92311 PLM Lender Services

v. 10 Del Torino, Lake Elsinore, CA 92532 PLM Lender Services

w. 854 43rd

Street, Oakland, CA 94608 Bank of America

x. 35661 Abelia Street, Murrieta, CA 92562 Wachovia

y. 10511 Lakeside Dr. #A, Garden Grove, CA 92840 Everhome

z. 950 Seven Hills Dr., #2223, Henderson, NV 89074 BAC Home Loan Services

aa. 900 Pedro Ave., Ben Lomand, CA 95005 Chase Bank/WAMU



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bb. 7125 Pembroke, Reno, NV 89502 Chase

cc. 127 Campbell St., Santa Cruz, CA 95060 Chase Bank/WAMU

dd. 308 Dakota, Santa Cruz, CA 95060 Chase Bank/WAMU

ee. 1130 Leggett St., Antioch, CA 94509 Chase Bank/WAMU

ff. 6 Lawn Ave., Saco, ME 04072 Wells Fargo Bank

gg. 11393 Del Monte Ave., Castroville, CA BAC Home Loan Servicing

hh. 457 Old Natividad, Salinas, CA 93906 Chase Bank/WAMU

ii. 100 Waugh Ave., Santa Cruz, CA 95065 Countrywide

jj. 2609 Willowbrook Ln. #68, Aptos, CA 95003 Wachovia

kk. 423 Carpenteria Road, Aromas, CA 95004 Chevy Chase Bank

ll. 122 14th

Pacific Grove, CA 93950 Wachovia

mm. 145 15th

St., Pacific Grove, CA 93950 Chase Bank/WAMU

nn. 202 San Benancio Road, Salinas, CA 93908 Wachovia

oo. 205 Ginger Way, Morgan Hill, CA 95037 Wachovia

pp. 223 Gordon Ln., Dayton, NV 89403 BAC Home Loan Servicing

qq. 678 Ann Way, Gardenville, NV 89460 BAC Home Loan Servicing

rr. 1427 Lindsay Ln., Carson City, NV 89706 BAC Home Loan Servicing

ss. 930 Woodside Dr., Carson City, NV 89701 BAC Home Loan Servicing

tt. 2238 Marilyns Way, Carson City, NV 89701 BAC Home Loan Servicing

uu. 1315 Spooner Dr., Carson City, NV 89706 BAC Home Loan Servicing

A copy of Debtor’s form 4, List of Creditors Holding 20 Largest Unsecured

Claims is attached hereto as Exhibit B.

This Motion is premised upon the following: title 11 of the United States Code

(Bankruptcy Code) sections 105, 361, 362, and 363, as well as rules 2002, 4001, and

9014 of the Federal Rules of Bankruptcy Procedure (FRBP).

This motion is based on the notice of motion, the attached Memorandum of

Points and Authorities, the attached Declaration of Victoria Campbell, on the papers and



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records on file herein, and on such oral and documentary evidence that may be produced

at the time of the hearing on the motion.

Respectfully Submitted,

SAGARIA LAW, P.C.

Date: February 5 , 2010 /s/ Patrick Calhoun

Patrick Calhoun

Attorney for Debtor


Case: 09-59405 Doc# 55-1 Filed: 02/05/10 Entered: 02/05/10 15:38:51 Page 1 of 15

MPA RE REQUEST FOR USE OF CASH COLLATERAL - Page 1 of 12

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SCOTT J. SAGARIA (BAR # 217981) PATRICK CALHOUN (BAR #56671) SAGARIA LAW, P.C. 333 W. SAN CARLOS STREET SUITE 1700 SAN JOSE, CALIFORNIA 95110 (408) 279-2288 (408) 279-2299 FAX Attorneys for Debtor


NORTHERN DISTRICT OF CALIFORNIA-NORTHERN DIVISION

In Re:

CAL INVESTMENTS INC.

Debtor.

Case No. 09-59405-RLE Chapter 11 AMENDED MEMORANDUM OF POINTS AND AUTHORITIES IN SUPPORT OF DEBTOR’S MOTION FOR USE OF CASH COLLATERAL Date: February 12, 2010 Time: 1:00 P.m. Judge: Honorable Roger L. Efremsky Court Room: 3099 Location: 280 S. First Street, 3rd Floor San Jose, CA 95113

DEBTOR’S MEMORANDUM OF POINTS AND AUTHORITIES IN SUPPORT OF

MOTION FOR USE OF CASH COLLATERAL

In support of the Motion, Debtor, CAL INVESTMENTS INC., respectfully states

as follows:

I. JURISDICTION



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1. This Court has jurisdiction over this motion pursuant to 28 U.S.C.

§§157(b)(2)(M) and 1334. This matter is a core proceeding within the meaning of 28

U.S.C. § 157(b)(2).

2. Venue of this proceeding and this Motion in this District is proper

pursuant to 28 U.S.C. §§ 1408 and 1409.

3. The statutory basis for the relief requested herein are sections 105, 361,

362 and 363 of title 11 of the United States Code (Bankruptcy Code), and Rules 2002,

4001, and 9014 of the Federal Rules of Bankruptcy Procedure (FRBP).

II. RELIEF REQUESTED

4. Debtor seeks the Court’s authorization to use cash collateral to pay its

monthly operating expenses for the following properties:

a. 1607 Lochbrea Court, Newman, CA 95360

b. 220 W. Carlton Way, Tracy, CA 95376

c. 17060 El Rancho Way, Salinas, CA 93907

d. 6265 Andressen Road, Sheridan, CA 95681

e. 1007 41st Street, #324, Emeryville, CA 94608

f. 1007 41st Street, #442, Emeryville, CA 94608

g. 1007 41st Street, #532, Emeryville, CA 94608

h. 9888 Holiday Lane, Pinon Hills, CA 92372

i. 221 W Buckthorn St. #23, Inglewood, CA 90301



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j. 11006 Coronado Dr., Morongo Valley, CA 92256

k. 2657 Twenty Grand Street, Perris, CA 92571

l. 8701 Lodestone Circle, Elk Grove, CA 95624

m. 10417 Carriage Road, Grass Valley, CA 95949

n. 5300 Sacramento Ave., Richmond, CA 94804

o. 197 Douglas Ave., Boulder Creek, CA 95006

p. 4601 Mountain Blvd., Oakland, CA 94619

q. 3194 Linkfield Way, San Jose, CA 95135

r. 273 Osborn Terrace, Atwater, CA, 95031

s. 19340 Diplomat Ave., Corona, CA 92881

t. 2449 Frieda Court, San Pablo, CA 94806

u. 35155 Birch Road, Barstow, CA 92311

v. 10 Del Torino, Lake Elsinore, CA 92532

w. 854 43rd Street, Oakland, CA 94608

x. 35661 Abelia Street, Murrieta, CA 92562

y. 10511 Lakeside Dr. #A, Garden Grove, CA 92840

z. 950 Seven Hills Dr., #2223, Henderson, NV 89074

aa. 900 Pedro Ave., Ben Lomand, CA 95005

bb. 7125 Pembroke, Reno, NV 89502

cc. 127 Campbell St., Santa Cruz, CA 95060



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dd. 308 Dakota, Santa Cruz, CA 95060

ee. 1130 Leggett St., Antioch, CA 94509

ff. 6 Lawn Ave., Saco, ME 04072

gg. 11393 Del Monte Ave., Castroville, CA

hh. 457 Old Natividad, Salinas, CA 93906

ii. 100 Waugh Ave., Santa Cruz, CA 95065

jj. 2609 Willowbrook Ln. #68, Aptos, CA 95003

kk. 423 Carpenteria Road, Aromas, CA 95004

ll. 122 14th Pacific Grove, CA 93950

mm. 145 15th St., Pacific Grove, CA 93950

nn. 202 San Benancio Road, Salinas, CA 93908

oo. 205 Ginger Way, Morgan Hill, CA 95037

pp. 223 Gordon Ln., Dayton, NV 89403

qq. 678 Ann Way, Gardenville, NV 89460

rr. 1427 Lindsay Ln., Carson City, NV 89706

ss. 930 Woodside Dr., Carson City, NV 89701

tt. 2238 Marilyns Way, Carson City, NV 89701

uu. 1315 Spooner Dr., Carson City, NV 89706

5. Debtor agrees to make Adequate Protection Payments to the Secured

Creditors (hereinafter Lenders) pursuant to Bankruptcy Code §§ 361, 362, 363, and



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364. Debtor respectfully requests that the Court authorize it to make Adequate

Protection Payments to each Lender based upon rents received minus operating

expenses for each property. Those properties currently vacant will begin receiving

Adequate Protection Payments immediately once those properties have tenants.

Debtor believes this formula will adequately protect the Lenders’ interests, while

allowing him to reorganize and return the properties to full performance. Debtor and

Lender for each property shall select a mutually agreed upon date in the future to

either sell or refinance the property. The sale or refinance shall ensure that the Lender

is paid in full.

6. Debtor’s President, Victoria Campbell, shall not use any monies for non-

operating expenses, salaries, or any other expense not explicitly provided for in the

Proposed Order filed concurrently herewith as Exhibit A.

III. BACKGROUND

7. On October 10, 2009, Debtor filed a voluntary petition for relief under

Chapter 11 of the Bankruptcy Code. Debtor is operating its business and managing

the Property as a debtor in possession pursuant to sections 1107(a) and 1108 of the

Bankruptcy Code.

8. As set forth in the Declaration of Victoria Campbell, President in Support

of Debtor’s Motion for Use of Cash Collateral, CAL Investment Inc. has been

operating since 2006. As reflected above, Debtor operates 47 rental properties.



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Debtor currently receives approximately $54,370.00 each month in rent from

operating the aforementioned properties.

9. As described in the Campbell Declaration, in the normal course of

business, Debtor uses cash on hand and cash flow from operations to fund working

capital, capital expenditures, and for other general business purposes. An inability to

use these funds during the pendency of this proceeding would cripple the Debtor’s

business operations. Debtor must use its cash to, among other things, continue to

remain in compliance with California and Nevada law, in addition to various utilities

and standard expenses associated with the operation of a residential rental. All of

these bills must be paid to preserve and maintain the Debtor’s going-concern value

and, ultimately effectuate a successful reorganization.

10. Debtor has set forth its proposed monthly adequate protection payments

for each property in the Declaration of Victoria Campbell, President, filed

concurrently herewith.

IV. BASIS FOR RELIEF

11. Debtor’s Request to Use Cash Collateral and the Proposed Adequate

Protection is Appropriate

a. Debtor’s use of property of its estate is governed by section 363 of the

Bankruptcy Code, which provides in pertinent part that:

If the business of the debtor is authorized to be operated

Under section … 1108 … of this title and unless the court

orders otherwise, the [debtor] may enter into transactions,



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including the sale or lease of property of the estate, if the

ordinary course of business, without notice or a hearing,

and may use property of the estate in the ordinary course

of business without or a hearing. 11 U.S.C. § 363(c)(1).

b. Section 363(c)(2)(A) of the Bankruptcy Code permits a debtor in

possession to use cash collateral with the consent of the secured party. Section 363(e)

of the Bankruptcy Code requires that the debtor adequately protect the secured

creditor’s interest in property to be used by a debtor against any diminution in value

of such interest resulting from the debtor’s use of the property during the chapter 11

cases.

c. What constitutes sufficient adequate protection is decided on a case-by-

cases basis. Here, Debtor proposes to make the following adequate protection

payments for each Property:

i. Adequate protection payments based upon rents received for each

individual property minus the necessary expenses (insurance,

taxes, homeowners’ association fees, and overhead) the balances

to be paid to the first mortgage.

ii. Debtor will commence adequate protection payments for those

propertys currently vacant once those property’s are rented.

d. The Debtor believes that the proposed Adequate Protection payments are

necessary and appropriate to ensure that Debtor can use the cash collateral.

Accordingly, the adequate protection proposed herein is fair and reasonable and



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sufficient to satisfy the requirements of sections 363(c)(2) and (e) of the Bankruptcy

Code.

e. Therefore, Debtor requests the Court’s authorization to use Cash

Collateral in the ordinary course of business pursuant to terms detailed for each

property in the Declaration of Victoria Campbell, President, filed concurrently

herewith. The expenses generally include management fees, taxes, insurance,

overhead, and in some instances home owners association fees.

g. Debtor agrees to provide adequate protection payments as set forth in the

Declaration of Victoria Campbell to provide protection against any diminution in

value of the lenders’ interests.

12. Failure to Use the Cash Collateral will Cause Immediate and Irreparable Harm

a. Pursuant to Bankruptcy Rule 4001(b)(2), the court may commence a final

hearing on a motion for authorization to use cash collateral.

b. Without the use of the Cash Collateral, Debtor will have no ability to

operate its business. Debtor will not be able to pay its vendors and the vendors will

likely to cease to provide goods and services to the Debtor on credit. Debtor will not

be able to serve its tenants. All of these outcomes will cause immediate and

irreparable harm to the Debtor’s estate.

c. The Debtor’s ability to finance its operations and the availability to the

Debtor of sufficient working capital and liquidity through the use of Cash Collateral



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is vital to the confidence of the Debtor’s suppliers and tenants, and to the

preservation and maintenance of the going-concern value and other values of the

Debtor’s estate. Debtor is currently receiving approximately $54,370.00 per month in

rent for each of the following facilities:

i. 1607 Lochbrea Court Monthly Rent Received: $900.00

ii. 220 W. Carlton Way Monthly Rent Received: Vacant

iii. 17060 El Rancho Way Monthly Rent Received: $1,400.00

iv. 6265 Andressen Road Monthly Rent Received: $ 1,475.00

v. 1007 41st Street, #324 Monthly Rent Received: $2,000.00

vi. 1007 41st Street, #442 Monthly Rent Received: $2,250.00

vii. 1007 41st Street, #532 Monthly Rent Received: $2,100.00

viii. 9888 Holiday Lane Monthly Rent Received: Vacant

ix. 221 W Buckthorn St. #23 Monthly Rent Received: $1050.00

x. 11006 Coronado Dr. Monthly Rent Received: $750.00

xi. 2657 Twenty Grand Street Monthly Rent Received: $1,200.00

xii. 8701 Lodestone Circle Monthly Rent Received: Vacant

xiii. 10417 Carriage Road Monthly Rent Received: $1,400.00

xiv. 5300 Sacramento Ave. Monthly Rent Received: Vacant

xv. 197 Douglas Ave. Monthly Rent Received: $1,100.00

xvi. 4601 Mountain Blvd. Monthly Rent Received: $1,800.00



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xvii. 3194 Linkfield Way Monthly Rent Received: $3,000.00

xviii. 273 Osborn Terrace Monthly Rent Received: Vacant

xix. 19340 Diplomat Ave. Monthly Rent Received: Vacant

xx. 2449 Frieda Court Monthly Rent Received: Vacant

xxi. 35155 Birch Road Monthly Rent Received: Vacant

xxii. 10 Del Torino Monthly Rent Received: $1,695.00

xxiii. 854 43rd Street Monthly Rent Received: $1,000.00

xxiv. 35661 Abelia Street Monthly Rent Received: $1,500.00

xxv. 10511 Lakeside Dr. #A Monthly Rent Received: $750.00

xxvi. 950 Seven Hills Dr. Monthly Rent Received: $850.00

xxvii. 900 Pedro Ave. Monthly Rent Received: $3,000.00

xxviii. 7125 Pembroke Monthly Rent Received: $750.00

xxix. 127 Campbell St. Monthly Rent Received: $2,100.00

xxx. 308 Dakota Monthly Rent Received: $1,650.00

xxxi. 1130 Leggett St. Monthly Rent Received: $650.00

xxxii. 6 Lawn Ave. Monthly Rent Received: $ 1,750.00

xxxiii. 11393 Del Monte Ave. Monthly Rent Received: $900.00

xxxiv. 457 Old Natividad, Monthly Rent Received: Vacant

xxxv. 100 Waugh Ave., Monthly Rent Received: $ 2,100.00

xxxvi. 2609 Willowbrook Ln. #68 Monthly Rent Received: $1,750.00



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xxxvii. 423 Carpenteria Road Monthly Rent Received: $1,400.00

xxxviii. 122 14th Monthly Rent Received:$ 1,700.00

xxxix. 145 15th St. Monthly Rent Received: $2,900.00

xl. 202 San Benancio Road Monthly Rent Received: $1,700.00

xli. 205 Ginger Way Monthly Rent Received: $1,500.00

xlii. 223 Gordon Ln. Monthly Rent Received: $750.00

xliii. 678 Ann Way Monthly Rent Received: $900.00

xliv. 1472 Lindsay Ln. Monthly Rent Received: $900.00

xlv. 930 Woodside Dr. Monthly Rent Received: $775.00

xlvi. 2238 Marilyns Way Monthly Rent Received: $800.00

xlvii. 1315 Spooner Dr. Monthly Rent Received: $825.00

d. Debtor is able to remain current on its operating expenses if it is able to

use cash collateral to pay its monthly expenses. Debtor therefore seeks authority to

use the Cash Collateral to prevent immediate and irreparable harm to Debtor’s estate.

e. Debtor’s ability to finance its operations and the availability to the Debtor

of sufficient working capital and liquidity through the use of Cash Collateral is vital

to the confidence of the Debtor’s suppliers and tenants, and to the preservation and

maintenance of the going-concern value and other values of the Debtor’s estate.



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f. Debtor therefore seeks authority to use the Cash Collateral as to prevent

irreparable harm to the Debtor’s estate. Accordingly, to the extent that the Debtor

requires use of Cash Collateral, the Debtor submits that it has satisfied the

requirements of Bankruptcy Rule 4001 to support immediate Cash Collateral

availability.

V. NO PRIOR REQUEST

11. No prior motion for the relief requested herein has been made to this or

any other court.

WHEREFORE, for the reasons set forth herein, the Debtor respectfully requests

that the Court enter an order, substantially in the form filed concurrently herewith as

Exhibit A, granting the relief requested herein and granting such other and further

relief as the Court deems appropriate.

Respectfully Submitted,

SAGARIA LAW, P.C.

Dated: February 5, 2010 ___/s/ Patrick Calhoun__

Patrick Calhoun

Attorney for Debtor


DECLARATION OF VICTORIA CAMPBELL, PRESIDENT -- Page 1 of 35

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SCOTT J. SAGARIA (BAR # 217981) PATRICK CALHOUN (BAR #56671) SAGARIA LAW 333 W. SAN CARLOS STREET SUITE 1700 SAN JOSE, CALIFORNIA 95110 (408) 279-2288 (408) 279-2299 FAX


NORTHERN DISTRICT OF CALIFORNIA

In Re:

CAL INVESTMENTS INC.

Debtor.

Case No. 09-59405-RLE Chapter 11 AMENDED DECLARATION OF VICTORIA CAMPBELL, PRESIDENT OF CAL INVESTMENTS, IN SUPPORT OF ORDERS FOR USE OF CASH COLLATERAL Date: February 12, 2010 Time: 1:00 PM Judge: Honorable Roger L. Efremsky Court Room: 3099 Location: 280 S. First St., 3rd Floor San Jose, CA 95113

I, VICTORIA CAMPBELL, hereby declare as follows:

1. I am the General Partner of CAL INVESTMENTS, INC. (hereinafter “Debtor”) in

the above mentioned matter.

2. I am submitting this declaration in support of Debtor’s motion for orders for use

of cash collateral for the 47 rental properties. I believe Debtor is able to meet its



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monthly operating expenses and make adequate protection payments if the Court

authorizes Debtor to make the proposed adequate protection payments to each of its

Secured Creditors contained herein. Debtor currently receives $54,370.00 in rent per

month from its 47 properties. The adequate protection payments and request for use of

cash collateral for each property would be as follows:

a. 1607 Lochbrea Court

i. Monthly Rent Received: $900.00

ii. Secured Creditor:

1. BAC Home Loan Servicing 1st mortgage

2. PLM Lender Services 2nd Mortgage

iii. Current Mortgage Payment:

1. $1,363.02

2. $739.74

iv. Taxes:

1. 130.15

v. Insurance:

1. $103.67

vi. Mgmt Fees

1. $135.00

vii. Overhead

1. 111.64

Total Proposed Monthly Payments for 1607 Lockbrea Court:

1st Mortgage $ 419.54

2nd Mortgage Will be Stripped

Taxes $ 130.15

Insurance $ 103.67

Mgmt Fees $135.00

Overhead $ 111.64

Total $ 900.00

b. 220 W. Carlton Way



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1. Bayview Loan Servicing 1st Mortgage



1. $5,113.00

2. $2,728.72

iv. Taxes:

1. 632.50

v. Insurance:

1. $305.42

Total Proposed Monthly Payments for 220 W. Carlton Way:

1st Mortgage: $ 0.00

2nd Mortgage: $ 0.00

Taxes: $ 0.00

Management Fees $ 0.00

Insurance: $ 0.00 _

Total: $ 0.00 *

*When rented, debtor will commence making adequate protection

payments to taxes, insurance, and any overhead with the remaining

balance to be paid to the first mortgage.

c. 17060 El Rancho Way

i. Monthly Rent Received: $1,400.00


1. BAC Home Loan Servicing 1st Mortgage

2. PLM 2nd Mortgage


1. $1,392.00

2. $125.00

iv. Taxes:

1. 252.60



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v. Insurance:

1. $92.46

vi. Management Fees:

1. 210.00

Total Proposed Monthly Payments for 17060 El Rancho Way:


2nd Mortgage: Will be stripped

Taxes: $ 252.60


Insurance: $ 92.46

Overhead: $ 177.58

Total: $ 1,400.00

d. 6265 Andressen Rd.



1. Wells Fargo Bank 1st Mortgage



1. $1,549.23

2. $1,050.00

iv. Taxes:

1. $228.51

v. Insurance:

1. $146


1. $221.25

vii. Overhead

1. $216.55



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Total Proposed Monthly Payments for Andressen Rd:



Taxes: $ 228.51


Insurance: $ 146.00

Overhead: $ 216.55

Total: $ 1,475.00

e. 1007 41st Street #324



1. Chase Bank/WAMU 1st Mortgage

2. Chase Bank/WAMU 2nd Mortgage


1. $1,755.39

2. $265.84

iv. Taxes:

1. $715.01

v. HOA:

1. 496.19


1. 300.00

vii. Overhead

1. 102.73

Total Proposed Monthly Payments for 1007 41st Street #324:



Taxes: $ 715.01


HOA: $ 496.19

Overhead: $ 102.73

Total $ 2000.00



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

f. 1007 41st Street #442



1. Chase Bank/WAMU 1st Mortgage


1. $4,476.76

iv. Taxes:

1. Impounded

v. HOA:

1. 538.71


1. 337.50

vii. Overhead

1. 58.86




Taxes: $1093.75


HOA: $ 538.71

Overhead: $ 58.86

Total: $ 2,250.00

g. 1007 41st Street #532



1. Chase bank/WAMU 1st Mortgage


1. $2,774.81

iv. Taxes:

1. 651.04

v. HOA:

1. 412.48



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25


1. 315.00

vii. Overhead

1. 151.64



Taxes: $ 651.04


HOA: $ 412.48

Overhead: $ 151.64

Total: $2,100.00

h. 9888 Holiday Lane

i. Monthly Rent Received: Vacant


1. PLM Lender Services 1st Mortgage



1. $1,384.17

2. 240.05

iv. Taxes:

1. $106.80

v. Insurance:

1. $104.58

Total Proposed Monthly Payments for 9888 Holiday Lane:





1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Taxes: $ 0.00

Insurance: $ 0.00

Total: $ 0.00 *

* When rented, debtor will commence making adequate protection



i. 221 W. Buckthorn St. #23

i. Monthly Rent Received: $1,050





1. $135.21

2. $175.21

iv. Taxes:

1. $214.73

v. HOA:

1. 151.50

vi. Management Fees

1. 157.50

vii. Overhead

1. 110.61

Total Proposed Monthly Payments for 221 W. Buckthorn St. #23:


2nd Mortgage Will be stripped

Taxes: $ 214.73

Management fees $ 157.50

Insurance: $ 151.50

Overhead: $ 110.61

Total: $ 1,050.00



1

2

3

4

5

6

7

8

9

10

11

12

13

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16

17

18

19

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21

22

23

24

25

j. 11006 Coronado Dr.






1. $1,052.33

2. $173.16

iv. Taxes:

1. $76.90

v. Insurance:

1. $70.00

vi. Management Fees

1. 112.50

vii. Overhead

1. 103.11

Total Proposed Monthly Payments for 11006 Coronado Dr.:


2nd Mortgage Will be stripped

Taxes: $ 76.90


Insurance: $ 70.00

Overhead: $ 103.11

Total: $ 750.00

k. 2657 Twenty Grand Street



1. CitiMortgage 1st Mortgage



1. $950.04



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

2. 462.50

iv. Taxes:

1. $173.89

v. Insurance:

1. $94.76

vi. Management Fees

1. $180.00

vii. Overhead

1. 157.91

Total Proposed Monthly Payments for 2657 Twenty Grand Street:



Taxes: $ 173.89


Insurance: $ 94.76

Overhead: $ 157.91

Total: $ 1,200.00

l. 8701 Lodestone Circle



1. BAC Home Loan Servicing

2. PLM Lender Services


1. $1,265.76

2. $112.50

iv. Taxes:

1. $195.56

v. Insurance:

1. $145.00

Total Proposed Monthly Payments for 8701 Lodestone Circle:



Taxes: $ 0.00

Insurance: $ 0.00



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Total $ 0.00*




m. 10417 Carriage Road

i. Monthly Rent Received: $1,400





1. $1,551.04

2. $ 600.00

iv. Taxes:

1. $160.77

v. Insurance:

1. $133.01


1. 210.00

vii. Overhead:

1. 188.36

Total Proposed Monthly Payments for 10417 Carriage Road:


2ND Mortgage: Will be stripped

Taxes: $ 160.77


Insurance: $ 133.01

Overhead: $ 188.36

Total: $ 1,400.00



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

n. 5300 Sacramento Ave



1. Countrywide 1st Mortgage



1. $ 650.00

2. $ 41.67

iv. Taxes:

1. $308.65

Total Proposed Monthly Payments for 5300 Sacramento Ave:



Taxes: $ 0.00

Insurance: $ 0.00

Total: $ 0.00*



balance to be paid to the first mortgage

o. 197 Douglas Ave.






1. $1,611.67



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

2. $ 22.50

iv. Taxes:

1. $146.83

v. Insurance:

1. $106.97


1. $ 165.00

vii. Overhead

1. $ 143.17

Total Proposed Monthly Payments for 197 Douglas Ave.:



Taxes: $ 146.83


Insurance: $ 106.97

Overhead: $ 143.17

Total $ 1,100.00

p. 4601 Mountain Blvd.



1. Wells Fargo Bank



1. $2,425.80

2. $ 153.75

iv. Taxes:

1. $375.66

v. Insurance:

1. $124.00


1. $270.00

vii. Overhead:

1. 216.55

Total Proposed Monthly Payments for 4601 Mountain Blvd.:



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25



Taxes: $ 375.66


Insurance: $ 124.00

Overhead: $ 216.55

Total: $ 1,800.00

q. 3194 Linkfield Way



1. Wachovia



1. $3,738.89

2. $ 125.98

iv. Taxes:

1. $788.88

v. Insurance:

1. $102

vi. Management Fees

1. $450

vii. Overhead:

1. 348.70

Total Proposed Monthly Payments for 3194 Linkfield Way:

1st Mortgage: $ 1,310.42


Taxes: $ 788.88


Insurance: $ 102.00

Overhead: $ 348.70

Total: $ 3,000.00



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

r. 273 Osborn Terrace



1. Wachovia



1. $ 677.15

2. $ 912.47

iv. Taxes:

1. $ 37.45

v. Insurance:

1. $ 97.23

Total Proposed Monthly Payments for 273 Osborne Terrance:



Taxes: $ 0.00

Insurance: $ 0.00

Total: $ 0.00 *




s. 19340 Diplomat Ave.



1. Ocwen Loan Servicing



1. $ 1,597.32



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

2. $ 112.50

iv. Taxes:

1. $272.62

v. Insurance:

1. $121.40

Total Proposed Monthly Payments for 19340 Diplomat Ave.:



Taxes: $ 0.00

Insurance: $ 0.00

Total: $ 0.00 *




t. 2449 Frieda Court



1. Carington Mortgage Servics



1. $2,125.93

2. $ 88.64

iv. Taxes:

1. 217.25

v. Insurance:

1. $94.76

vi. Management Fees



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Total Proposed Monthly Payments for 2449 Frieda Court:



Taxes: $ 0.00

Insurance: $ 0.00

Total: $ 0.00*




u. 35155 Birch Road





1. $ 935.00

iv. Taxes:

1. $873.33

v. Insurance:

1. un-insurable

Total Proposed Monthly Payments for 35155 Birch Road:


Taxes: $ 0.00

Insurance: $ 0.00

Total: $ 0.00

v. 10 Del Torino





1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25




1. $ 250.01

2. $ 222.54

iv. Taxes:

1. $345.58

v. Insurance:

1. $286

vi. Management Fees

1. $254.25

vii. Overhead

1. $170.07

Total Proposed Monthly Payments for 10 Del Torino:



Taxes: $ 345.58


Insurance: $ 286.00

Overhead $ 170.07

Total: $ 1305.91

Cash Flow: $ 389.09

w. 854 43rd Street






1. $1,275.09

2. $1,827.08

iv. Taxes:

1. $204.51

v. Insurance:

1. $97.23




1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

1. $150.00

vii. Overhead:

1. 115.23

Total Proposed Monthly Payments for 854 43rd Street:



Taxes: $ 204.51


Insurance: $ 97.23

Overhead: $ 115.23

Total: $ 1,000.00

x. 35661 Abelia Street



1. Wachovia



1. $2,181.00

2. $ 167.96

iv. Insurance:

1. $170

v. Management fees:

1. $225

vi. Taxes:

1. 672.75

vii. Overhead:

1. 90.85

Total Proposed Monthly Payments for 35661 Abelia Street:



Insurance: $ 170.00

Taxes: $ 672.75

Management fees: $ 225.00

Overhead: $ 90.85



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Total: $ 1,500.00

y. 10511 Lakeside Dr. #A

i. Monthly Rent Received: $ 750.00


1. Everhome

2. CITI Bank


1. $1,087.81

2. $ 209.64

iv. Taxes:

1. $169.93

v. HOA:

1. Tenant Pays


1. $127.50

vii. Overhead:

1. $95.76

Total Proposed Monthly Payments for 10511 Lakeside Dr. #A:



Taxes: $ 169.93

Management Fees: $ 127.50

Overhead: $ 95.76

Total: $ 750.00

z. 950 Seven Hills Drive

i. Monthly Rent Received: $ 850.00




1. $1,307.02

iv. Taxes:



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

1. $ 87.17

v. HOA:

1. $256


1. $127.50

vii. Overhead:

1. $79.73

Total Proposed Monthly Payments for 950 Seven Hills Drive:



Taxes: $ 87.17

HOA: $ 256.00

Management Fees: $ 127.50

Overhead: $ 79.73

Total: $ 850.00

aa. 900 Pedro Ave.



1. Chase Bank/WAMU

2. Chase Bank/WAMU


1. $9,100.00

2. $ 660.38

iv. Taxes:

1. $788.00

v. Insurance:

1. $304.92

vi. Management Fees

1. $450.00

vii. Overhead:

1. 306.24

Total Proposed Monthly Payments for Pedro Ave.:

1st Mortgage: $1,150.84



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25


Taxes: $ 788.00


Insurance: $ 304.92

Overhead: $ 306.24

Total: $ 3,000.00

bb. 7125 Pembroke



1. Chase Bank/WAMU



1. $2,175.01

2. $ 571.73

iv. Taxes:

1. 202.85

v. Insurance:

1. $100


1. $112.50

vii. Overhead:

1. 70.33

Total Proposed Monthly Payments for 7125 Pembroke:



Taxes: $ 202.85


Insurance: $ 100.00

Overhead: $ 70.33

Total: $ 750.00

cc. 127 Campbell




1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25


1. Chase Bank/WAMU

2. Chase Bank/WAMU


1. $2,182.96

2. $2,403.30

iv. Taxes:

1. 577.03

v. Insurance:

1. $102.35

vi. Management Fees

1. $315

vii. Overhead:

1. 232.37

Total Proposed Monthly Payments for 127 Campbell:



Taxes: $ 577.03


Insurance: $ 102.35

Overhead: $ 232.37

Total: $2,100.00

dd. 308 Dakota



1. Chase Bank/WAMU

2. Chase Bank/WAMU


1. $ 2,095.86

2. $ 271.98

iv. Taxes:

1. $290.72

v. Insurance:

1. $121.40


1. $247.50



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

vii. Overhead:

1. $208.15

Total Proposed Monthly Payments for 308 Dakota:


Taxes: $ 290.72


Insurance: $ 121.40

Overhead: $ 208.15

Total: $ 1,650.00

ee. 1130 Legget St.



1. Chase Bank/WAMU


1. $1,076.60

iv. Taxes:

1. $79.02

v. Insurance:

1. $80.59


1. $97.50

vii. Overhead:

1. $82.58

Total Proposed Monthly Payments for 1130 Legget St.:


Taxes: $ 79.02


Insurance: $ 80.59

Overhead: $ 82.58

Total: $ 650.00

ff. 6 Lawn Ave.




1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25


1. Well Fargo Bank


1. $1,986.80

iv. Taxes:

1. $ 330.56

v. Insurance:

1. $100.00


1. $262.50

vii. Overhead:

1. $222.14

Total Proposed Monthly Payments for 6 Lawn Ave.:


Taxes: $ 330.56


Insurance: $ 100.00

Overhead: $ 222.14

Total: $ 1,750.00

gg. 11393 Del Monte Ave.





1. $1,727.84

iv. Taxes:

1. $196.05

v. Insurance:

1. $54.00

vi. Management Fees

1. $135.00

vii. Overhead

1. $108.23

Total Proposed Monthly Payments for 11393 Del Monte Ave. :



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25


Taxes: $ 196.05


Insurance: $ 54.00

Overhead: $ 108.23

Total: $ 900.00

hh. 457 Old Natividad



1. Chase Bank/WAMU


1. $ 2,974.21

iv. Taxes:

1. 670.01

v. Insurance:

1. $52.25

Total Proposed Monthly Payments for 457 Old Natividad:


Taxes: $ 0.00

Insurance: $ 0.00

Total: $ 0.00 *




ii. 100 Waugh Way






1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

2. CitiMortgage


1. $4,038.36

2. $ 521.61

iv. Taxes:

1. $337.00

v. Insurance:

1. $139.92


1. $315.00

vii. Overhead:

1. 274.92

Total Proposed Monthly Payments for 100 Waugh Way:



Taxes: $ 337.00


Insurance: $ 139.92

Overhead: $ 274.92

Total: $ 2,100.00

jj. 2609 Willowbrook Ln.



1. Wachovia

2. Wachovia


1. $2,052.56

2. $700.00

iv. Taxes:

1. 459.99

v. HOA:

1. Paid by tenant


1. $150.00

vii. Overhead:

1. $80.01



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Total Proposed Monthly Payments for 2609 Willowbrook Ln:



Taxes: $ 459.99


HOA: $ 0.00

Overhead: $ 80.01

$ 1,000.00

kk. 423 Carpenteria



1. Chevy Chase Bank


1. $5,407.65

iv. Taxes:

1. $695.42

v. Insurance:

1. $146.09


1. $210

vii. Overhead:

$73.24

Total Proposed Monthly Payments for 423 Carpenteria:


Taxes: $ 695.42


Insurance: $ 146.09

Overhead: $ 73.24

Total: $ 1,400.00

ll. 122 14th St.



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25



1. Wachovia


1. $3,988.30

iv. Taxes:

1. $1,071.85

v. Insurance:

1. $142.04


1. $255

vii. Overhead:

1. $48.57

Total Proposed Monthly Payments for 122 14th St.:


Taxes: $ 1,071.85


Insurance: $ 142.04

Overhead: $ 48.57

Total: $ 1,700.00

mm. 145 15th St.



1. Chase Bank/WAMU


1. $4,967.96

iv. Taxes:

1. $1,033.47

v. Insurance:

1. $156

vi. Management Fees

1. $435

vii. Overhead:

1. $268.08

Total Proposed Monthly Payments for 145 15th St.:



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25


Taxes: $ 1,033.47


Insurance: $ 156.00

Overhead: $ 268.08

Total: $ 2,900.00

nn. 202 San Benancio Rd.



1. Wachovia

2. National City Mortgage


1. $3,988.30

2. $1,479.09

iv. Taxes:

1. $875.03

v. Insurance:

1. $194.32


1. $255.00

vii. Overhead:

1. $78.95

Total Proposed Monthly Payments for 202 San Benancio:



Taxes: $ 875.03


Insurance: $ 194.32

Overhead: $ 78.95

Total: $1,700.00

oo. 205 Ginger Way





1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

1. Wachovia


1. $3,272.62

iv. Taxes:

1. $691.56

v. Insurance:

1. $159.12


1. $225

vii. Overhead:

1. $89.18

Total Proposed Monthly Payments for 205 Ginger Way:


Taxes: $ 691.56


Insurance: $ 159.12

Overhead: $ 89.18

Total: $ 1,500.00

pp. 223 Gordon Way





1. $797.17

iv. Taxes:

1. $111.44

v. Insurance:

1. $74.00

vi. Management Fees

1. $112.50

vii. Overhead:

1. 95.01

Total Proposed Monthly Payments for 223 Gordon Way:



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25


Taxes: $ 111.44


Insurance: $ 74.00

Overhead: $ 95.01

Total: $ 750.00

qq. 678 Ann Way





1. $1,050.39

iv. Taxes:

1. $136.65

v. Insurance:

1. $85.99

vi. Management Fees

1. $135

vii. Overhead

1. 113.99

Total Proposed Monthly Payments for 678 Ann Way:


Taxes: $ 136.65


Insurance: $ 85.99

Overhead: $ 113.99

Total: $ 900.00

rr. 1472 Lindsay Way





1. $1,059.87

iv. Taxes:



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

1. $116.23

v. Insurance:

1. $79


1. $135

vii. Overhead:

1. $119.75

Total Proposed Monthly Payments for 1472 Lindsay Way:


Taxes: $ 116.23


Insurance: $ 79.00

Overhead: $ 119.75

Total: $ 900.00

ss. 930 Woodside





1. $864.59

iv. Taxes:

1. $115.66

v. Insurance:

1. $80

vi. Management Fees

1. $116.25

vii. Overhead

1. $97.33

Total Proposed Monthly Payments for 930 Woodside:


Taxes: $ 115.66


Insurance: $ 80.00

Overhead: $ 97.33



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

Total: $ 775.00

tt. 2238 Marilyns





1. $ 959.37

iv. Taxes:

1. $108.57

v. Insurance:

1. $86.00


1. $120.00

vii. Overhead:

1. $102.02

Total Proposed Monthly Payments for 2238 Marilyns:


Taxes: $ 108.57


Insurance: $ 86.00

Overhead: $ 102.02

Total: $ 800.00

uu. 1315 Spooner





1. $1003.71

iv. Taxes:

1. $118.65

v. Insurance:

1. $84.00

vi. Management Fees

1. $123.75



1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

vii. Overhead:

1. 104.79

Total Proposed Monthly Payments for 1315 Spooner:


Taxes: $ 118.65


Insurance: $ 84.00

Overhead: $ 104.79

Total: $ 825.00

3. Debtor will be able to make adequate protection payments to its secured

creditors for its mortgage, taxes and insurance from its cash-collateral rents if the

monthly mortgage payments are reduced based upon rents received. Therefore,

Debtor respectfully requests the use of the cash-collateral rents to be able to pay its

necessary monthly operating expenses.

I declare under penalty of perjury under the laws of the United States of America

that the foregoing is true and correct.

Date: February 5, 2010 __/s/ Victoria Campbell______

Victoria Campbell,


second amended motion for cash collateral

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