ASSIGNMENT OF DEEDS OF TRUST

 

                                  EXHIBIT 10.27

When Recorded Return To:

Joseph P. Martori, Esq.
Brown & Bain, P.A.
P.O. Box 400
Phoenix, Arizona 85001

                          ASSIGNMENT OF DEEDS OF TRUST

August 31, 1992                                      Date of Assignment

Martori Enterprises Incorporated,                    Assignee
  an Arizona corporation
c/o Brown & Bain, P.A.
2901 North Central Avenue                            Address
Phoenix, Arizona 85004

Los Abrigados Partners Limited                       Assignor
  Partnership,
  an Arizona limited partnership
4745 North 7th Street, Suite 222
Phoenix, Arizona 85014

Coconino County, Arizona                             County of Recording

         KNOW ALL MEN BY THESE PRESENTS THAT certain consumer purchasers did
grant, bargain, sell and convey the property described in the Deeds of Trust
(the "Deeds of Trust"), to be held in trust to secure payment of Promissory
Notes together with interest (the "Notes"), as more particularly described on
Exhibit "A" attached hereto and incorporated herein by reference.

         NOW, THEREFORE, pursuant to the terms and conditions of that certain
Financing Agreement between Assignor and Assignee, dated August 31, 1992,
Assignor hereby assigns unto Assignee, the Deeds of Trust and Notes secured
thereby, which Deeds of Trust encumber certain undivided 1/8,925th interests the
following described property, situated in the County of Coconino, State of
Arizona, to wit:

         See Exhibit B hereto

         Assignor hereby covenants with Assignee that the Deeds of Trust and
Notes hereby assigned are good and valid security and that the sum of
$770,000.00 dollars remains unpaid on the Notes and that Assignor has not done
or permitted any act, matter or thing whereby the Deeds of Trust have been
released or discharged, either partly or in entirety and has the right

to assign the Deeds of Trust and Notes and will upon request, do perform and
execute every act necessary to enforce the full performance of the covenants and
agreements therein contained and that this Assignment and the covenants herein
shall inure to the benefit and be binding upon the heirs, personal
representatives, successors and assigns of the respective parties hereto.

         IN WITNESS WHEREOF, Assignor has executed this Assignment as of the day
and year first above written.

Attest:                                    LOS ABRIGADOS PARTNERS LIMITED
                                           PARTNERSHIP,
                                            an Arizona limited partnership

                                           By:      ILE SEDONA INCORPORATED,
                                                    an Arizona corporation

By:                                         By:
   -------------------------                   ----------------------------
   Gordon R. Wren, Secretary                   Randall L. Pullen, President

STATE OF ARIZONA         )
                         ) ss.
County of Maricopa       )

         On this 31st day of August, 1992, before me, the undersigned officer,
personally appeared Randall L. Pullen and Gordon R. Wren, who acknowledged
themselves to be the President and Secretary respectively of ILE SEDONA
INCORPORATED, an Arizona corporation, the General Partner of LOS ABRIGADOS
PARTNERS LIMITED PARTNERSHIP, an Arizona limited partnership, and that each of
them, respectively, in such capacity, being authorized so to do, executed the
foregoing instrument for the purposes therein contained by signing the name of
the corporation as General Partner by himself.

         IN WITNESS WHEREOF, I have hereunto set my hand and official seal.

My Commission Expires:                             ----------------------------

- -----------------------------

                                    EXHIBIT A

Contract No. Last Name Date Docket Page - ------------ --------- ---- ------ ---- 4101126019 Kish 03/30/92 1463 559 4101127017 Williams 03/30/92 1463 564 4101132017 Ketler 03/30/92 1463 545 4101133015 Bouton 03/30/92 1463 572 4101134021 Benell 07/06/92 1487 462 4101169019 Djozlija 04/14/92 1467 413 4101181014 Peterson 04/14/92 1467 439 4101217412 Kogan 12/06/91 1440 109 4101223014 Johnson 04/22/92 1469 088 4101259018 Kelly 06/17/92 1482 913 4101273019 Thompson 06/24/92 1485 077 4101300010 Smouse 06/17/92 1482 955 4101302016 Eberhart 06/11/92 1481 508 4101319010 Homokay 06/17/92 1482 943 4101328011 Ross 07/06/92 1487 453 4101329019 Northey 06/19/92 1483 689 4101331015 Bounds 06/15/92 1482 233 4101334019 Okamoto 06/15/92 1482 227 4101373017 Rohde 06/11/92 1481 500 4101374023 Smith 06/24/92 1485 069 4101389013 Ramirez 06/26/92 1485 799 Hanna 09/23/92 1507 594 Hanna 09/23/92 1507 591 Dahlin 10/01/92 1510 296 White 09/23/92 1507 588 Rich 10/01/92 1510 279 Dean 09/17/92 1506 022 Karaylanis 09/17/92 1506 027 4100101138 Shockley 01/08/92 1446 216 4100213305 St. Peter 04/22/92 1469 085 4100213396 Panopio 05/04/92 1471 852 4100213461 Gertz 06/11/92 1481 511 4100213743 Lueck 05/15/92 1474 917 4100213818 Perry 06/11/92 1481 504 4100213941 Paisley 06/24/92 1484 989 4100214030 Stimpson 05/27/92 1477 288 4100214097 Upton 06/24/92 1484 992 4100214378 Daldrup 06/15/92 1482 239 4100214386 Detwiler 06/19/92 1483 676 4100214402 Lyman 06/17/92 1482 916 4100214774 Dimartino 07/06/92 1487 456
Contract No. Last Name Date Docket Page - ------------ --------- -------- ------ ---- 4100215136 Bellile 07/13/92 1489 749 4100215151 McNeely 07/13/92 1489 746 4100215185 Phelps 07/06/92 1487 459 4100215441 Lester 07/13/92 1489 752 4100216126 Simmons 12/03/92 1439 270 4100216514 McCartney 11/07/91 1434 345 4101216621 Frazier 12/03/91 1439 267 4100217546 Sun State 01/27/92 1449 633 4100218064 Ohs 02/02/92 1464 201 4100218304 Gemza 05/07/92 1473 174 4100218312 Molburg 03/11/92 1459 257 4100218379 Donahoo 04/14/92 1467 407 4100218478 Oppenheimer 04/02/92 1464 901 4100218486 Oppenheimer 04/02/92 1469 904 4100218502 Perry 04/22/92 1469 094 4100218510 Perry 04/22/92 1469 091 4100218650 Nash 02/20/92 1454 173 4100218668 Nash 02/20/92 1454 170 4100218692 Moore 06/17/92 1482 949 4100218767 Hawke 04/14/92 1467 410 4100218775 Hurst 06/24/92 1484 998 4100218783 Ward 04/22/92 1469 079 4100218791 Ward 04/22/92 1469 082 4100219252 Mann 03/30/92 1463 554 4100219658 Conley 05/07/92 1473 178 4100219781 Hatkoff 03/30/92 1463 551 4100220326 Hancock 03/30/92 1463 548 4100220458 Allan 11/02/92 1518 232 4100834019 Bannon 12/03/91 1439 095 4100001585 Lawicki 08/19/92 1498 972 4100215763 Sait 07/13/92 1489 755 4100215821 Jones 07/13/92 1489 758 4100218122 Shirlaw 01/27/92 1449 628 4101410017 Fumusa 07/08/92 1488 673 4101428019 Wilson 07/21/92 1491 734 4101429017 Bauder 07/21/92 1491 716 4101442010 Autrey 07/21/92 1491 728 4101467017 Bradley 07/27/92 1492 783 4101468023 Radlow 07/27/92 1492 789 4101473015 Larson 08/03/92 1494 652 4101474013 Bernstein 08/03/92 1494 613 4101475010 Green 08/03/92 1494 646 4101476018 West 08/03/92 1494 635
Contract No. Last Name Date Docket Page - ------------ --------- -------- ------ ---- 4101477016 Meikle 08/03/92 1494 640 4101484020 Cole 08/03/92 1494 618 4101485019 Lamendola 08/05/92 1495 497 4101493013 Hedlund 08/05/92 1495 509 4101501013 Harris 08/05/92 1495 491 4101502011 Applegate 08/05/92 1495 503 4101508018 Moran 08/05/92 1495 485 4101509016 Patterson 08/12/92 1497 364 4101510014 Koglmeier 09/17/92 1506 016 4101511012 Shulman 08/05/92 1495 518 4101528016 Conley 08/20/92 1499 515 4101548014 Larsen 08/20/92 1499 486 4101550010 Levine 08/20/92 1499 527 4101551018 Wardell 08/20/92 1499 498 4101558013 Burley 08/19/92 1498 966 4101568020 Coulthard 08/19/92 1498 980 4101587012 Blasko 09/03/92 1503 187 4100262013 Diaz no recording information 4100427012 Mayclin no recording information 4101274017 Briguglio 06/24/92 1445 065 4101443018 Taylor 07/21/92 1491 722 4101446011 Gates 08/03/92 1494 624 4101478014 Gescheke 08/03/92 1494 629 4101514016 Khan 08/12/92 1497 356 4101533016 Cleveland 08/12/92 1497 350 4101534014 Mahin 08/20/92 1499 509 4101540011 Boettcher 09/17/92 1506 010 4101546018 Whitworth 08/20/92 1499 521 4101552016 Knoblock 08/20/92 1499 490 4101554012 Robinson 08/20/92 1499 503 4101575017 Smock 09/03/92 1503 199 4101576031 Smith 09/03/92 1503 155 4101577013 Jovanovic 09/03/92 1503 158 4101581015 Dedinsky 09/03/92 1503 193 4101589018 Cook 09/03/92 1503 164 4101590016 Mowery 09/03/92 1503 161
EXHIBIT B SEDONA VACATION CLUB AT LOS ABRIGADOS LEGAL DESCRIPTION A parcel of land situated in the Southeast quarter of the Southeast quarter of Section 7 and the Northeast quarter of Section 18, Township 17 North, Range 6 East of the Gila and Salt River Meridian in Coconino County, Arizona, including a portion of Lots 1 and 10, and all of Lot 11 in Block I, and a portion of Lot 4, and all of Lots 1, 2 and 3 in Block II of HART'S VILLAGE SUBDIVISION, according to the plat thereof recorded in Book 2 of Maps, Page 54 of the Coconino County Recorder's Office, together with portions of Forest Drive, Black Road and Orchard Drive, abandoned by Order recorded July 25, 1955 in Book 78 of Official Records, Page 23 and 24, all being more particularly described as follows: Commencing at the Northeast corner of said Section 18 as marked by a B.L.M. brass capped pipe; thence S 89d 51m 39s W (S 89d 48m W rec.) a distance of 261.99 (262.00 rec.) feet along the North line of said Section 18 to the Westerly right-of-way line of Arizona State Highway 179, being the TRUE POINT OF BEGINNING; thence S 17d 50m 29s W (S 18d 17m W rec.) a distance of 452.29 (452.23 rec.) feet along said Westerly right-of-way line of Arizona State Highway 179 to a Point of Curvature; thence Southwesterly along said Westerly right-of-way line of Arizona State Highway 179, being a curve concave to the Northwest having a central angle of 10d 48m 11s, chord bearing of S 23d 14m 34.5s W and radius of 921.93 feet a distance of 173.83 (173.78 rec.) feet to a point; thence N 61d 21m 20s W (N 60d 55m W rec.) a distance of 100.00 (100.00 rec.) feet to a point in Oak Creek; thence S 38d 21m 31s W (S 38d 48m W rec.) a distance of 315.70 (315.71 rec.) feet to a point in Oak Creek; thence S 46d 56m 20s E (S 46d 30m E rec.) a distance of 100.00 (100.00 rec.) feet to a point on said Westerly right-of-way line of Arizona State Highway 179; thence S 43d 03m 40s W (S 43d 30m W rec.) a distance of 121.37 (121.40 rec.) feet along said Westerly right-of-way line of Arizona State Highway 179 to a Point of Curvature; thence Southwesterly along said Westerly right-of-way line of Arizona State Highway 179 being a curve concave to the Southeast having a central angle of 18d 10m 54s, chord bearing of S 33d 58m 13s W and radius of 605.96 feet a distance of 192.29 (201.40 rec.) feet to a point on the following described line; thence S 89d 42m 41s W (West rec.) a distance of 108.01 (115 rec.) feet along a line lying 200.00 feet North of and parallel with the South line of the Northeast quarter of the Northeast quarter of said Section 18 to a point in Oak Creek; then N 31d 30m 00s E (N 31d 30m E rec.) a distance of 436.04 (430.00 rec.) feet to a point in Oak Creek; then S 83d 00m 00s W (S 83d W rec.) a distance of 130.00 (125 rec.) feet to a point in Oak Creek; then S 78d 00m 00s W a distance of 160.00 (160.5 +or- rec.) feet to a point in Oak Creek; then S 44d 25m 00s W a distance of 24.36 (16.33 rec.) feet to a point in Oak Creek; then N 11d 53m 00s W a distance of 122.98 (120.59 rec.) feet to a point; thence N 04d 30m 00s W a distance of 180.60 feet to a point; thence N 77d 27m 00s W (N 77d 44m W rec.) a distance of 564.08 feet to a Point of Curvature; thence Northwesterly along a curve concave to the Northeast having a central angle of 27d 43m 44s (27d 43m 40s rec.), chord bearing of N 63d 35m 08s W and radius of 261.07 (261.07 rec.) feet, a distance of 126.35 (126.3 rec.) feet to a point of non-tangency; thence West (West rec.) a distance of 51.84 (41.85 rec.) feet to a point; thence N 05d 20m 14s E (N 05d 17m E rec.) a distance of 54.50 (61.7 rec.) feet to a point; thence N 34d 13m 46s W (N 34d 17m W rec.) a distance of 27.64 (26.3 rec.) feet to a point on the Southeasterly right-of-way line of Brewer Highway according to the plat thereof recorded in Book 2 of Maps, Page 139 of the Coconino County Recorder's Office; thence N 58d 03m 46s E (N 57d 28in E rec.) a distance of 48.71 (44.3 rec.) feet along said Southeasterly right-of-way line of Brewer Highway to a Point of Curvature; thence Northeasterly along said Southeasterly right-of-way line of Brewer Highway, being a curve concave to the Northwest having a central angle of 43d 33m 43s (43d 57m rec.), chord bearing of N 36d 16m 54.5s E and radius of 176.24 (176.24 rec.) feet, a distance of 134.00 (135.19 rec.) feet to a Point of Tangency; thence N 14d 30m 03s E (N 13d 31m E rec.) a distance of 113.94 (109.18 rec.) feet along said Southeasterly right-of-way line of Brewer Highway to a point on the North line of said Section 18; thence N 89d 51m 39s E a distance of 352.42 feet along said North line of Section 18 to the Southwest corner of the Southeast quarter of the Southeast quarter of said Section 7; thence N Old 04m 02s W (N Old 40m 30s W rec.) a distance of 158.79 feet along the West line of said Southeast quarter of the Southeast quarter of Section 7 to a point; thence S 83d 17m 23s E a distance of 65.58 feet to a point; thence S 02d 32m 25s W a distance of 23.84 feet to a point; thence N 89d 16m 39s E a distance of 15.50 feet to a point on the East line of said Lot 1 of Block I of the HART'S VILLAGE SUBDIVISION lying N 05d 45m 06s W a distance of 8.20 feet from a 1/2" pipe found at the Southwest corner of Lot 10 of said Block I; thence S 89d 48m 35s E (S 89d 22m E rec.) a distance of 176.73 feet to a point; thence N 00d 11m 34s W a distance of 52.03 feet to a point; thence N 89d 51m 39s E a distance of 1.50 feet to a point on the center line of Orchard Drive (presently abandoned) of said HART'S VILLAGE SUBDIVISION; thence N 89d 51m 39s E a distance of 23.04 feet along the North line (and its Westerly extension) of Lot 1 of Block II of said HART'S VILLAGE SUBDIVISION to a point; thence N 00d 08m 21s W (N 00d 43m 2 rec.) a distance of 112.73 feet to a point on the center line of a private road easement described in Docket 930, Page 406 of the Coconino County Recorder's Office; thence N 88d 39m 39s E (N 88d 05m E rec.) a distance of 46.79 feet along said center line of private road easement to a point; thence N 58d 01m 39s E (N 57d 27m E rec.) a distance of 11.83 (13.52 rec.) feet along said center line of private road easement to the East line of Lot 4 of Block II of said HART'S VILLAGE SUBDIVISION; thence S 41d 22m 21s E (S 41d 21m E rec.) a distance of 159.50 (159.22 rec.) feet to the North corner of Lot 3 of Block II of said HART'S VILLAGE SUBDIVISION; thence S 47d 58m 21s E a distance of 75.00 (75 rec.) feet to an angle point in the Northeasterly line of said Lot 3; thence S 32d 50m l8s E (S 32d 50m E rec.) a distance of 154.77 feet along the Northeasterly line (and its Southeasterly extension) of said Lot 3 to a point on the North line of said Section 18; thence N 89d 51m 39s E a distance of 0.31 feet along said North line of Section 18 to a point; thence S 34d 46m 21s E (S 34d 50m E rec.) a distance of 160.69 feet to a point; thence S 63d 10m 57s W a distance of 198.38 feet to a point; thence S 00d 03m 39s W (South rec.) a distance of 71.38 feet to a point; thence N 89d 51m 39s E (N 89d 48m E rec.) a distance of 322.58 feet to a point; thence N 16d 01m 39s E (N 15d 58m E rec.) a distance of 304.70 (304.70 rec.) feet to a point on the North line of said Section 18; thence N 89d 51m 39s E (N 89d 48m E rec.) a distance of 154.01 (153.93 rec.) feet to the TRUE POINT OF BEGINNING. EXCEPT THE FOLLOWING AREAS SITUATED UPON SUCH REAL PROPERTY: (1) the On the Rocks Lounge and any and all other lounge or bar facilities (except those bar facilities located within the Units) now or hereafter existing on the Property, (2) the Sedona Health Spa at Los Abrigados together with the patio area on the second floor adjacent to the Sedona Health Spa at Los Abrigados and any and all health or fitness related facilities (except the swimming pool and the tennis courts) now or hereafter existing on the Property, (3) the Canyon Rose Dining Room and any and all other dining facilities, snack bars, gift shops and stores now or hereafter existing on the Property, (4) all conference rooms including the Landmark Room, Coffee Pot Room, Indian Gardens Room, Steamboat Rock Room, Snoopy Rock Room and any and all other conference rooms (except those conference rooms located within the Units) now or hereafter existing on the Property, and (5) the entire first floor of the main hotel structure, which floor contains the hotel registration desk and lobby areas.

Basic Info X:

Name: ASSIGNMENT OF DEEDS OF TRUST
Type: trust
Date: March 13, 1998
Company: ILX RESORTS INC
State: Arizona

Other info:

Date:

  • August 31 , 1992
  • 31st day of August , 1992
  • 091792 1506
  • 071392 1489
  • 110791
  • 042292 1469
  • 110292 1518
  • 012792 1449
  • 072792
  • 062492 1445
  • July 25 , 1955
  • Northeast quarter of the Northeast quarter
  • Southeast quarter of the Southeast quarter

Organization:

  • Date of Assignment Martori Enterprises Incorporated
  • Arizona corporation co Brown & Bain
  • Los Abrigados Partners Limited Assignor Partnership
  • County of Coconino , State of Arizona
  • Deeds of Trust
  • General Partner of LOS ABRIGADOS PARTNERS LIMITED PARTNERSHIP
  • Coconino County Recorder 's Office
  • Sedona Health Spa
  • Snoopy Rock Room

Location:

  • Esq
  • P.A
  • Phoenix
  • Arizona County
  • Kish
  • Cleveland
  • SEDONA
  • Gila
  • Coconino County
  • Westerly
  • Oak Creek
  • East
  • Los Abrigados

Money:

  • $ 770,000.00 dollars

Person:

  • Joseph P. Martori
  • Assignor
  • Randall L. Pullen
  • Gordon R. Wren
  • Bouton
  • Peterson
  • Kogan
  • Johnson
  • Kelly
  • Thompson
  • Eberhart
  • Ross
  • Northey
  • Okamoto
  • Rohde
  • Ramirez
  • Shockley
  • Gertz
  • Lueck
  • Stimpson
  • Upton
  • Detwiler
  • Lyman
  • Dimartino
  • Simmons
  • Frazier
  • Donahoo
  • Perry
  • Nash
  • Moore
  • Hawke
  • Hurst
  • Mann
  • Hatkoff
  • Hancock
  • Bannon
  • Fumusa
  • Wilson
  • Bauder
  • Larson
  • Bernstein
  • Cole
  • Lamendola
  • Hedlund
  • Harris
  • Moran
  • Patterson
  • Shulman
  • Conley
  • Larsen
  • Levine
  • Blasko
  • Taylor
  • Boettcher
  • Whitworth
  • Knoblock
  • Robinson
  • Smith
  • Mowery