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Show " - "";"'".'4'.'".'r'"" . ... m m 'y?''??'? 7. - - .- - - -- Thursday, December 18, 2008 Page 10 AMERICAN FORK CITIZEN NOTICE OF TRUSTEE'S SALE The following described property will be sold at public auction to the highest bidder on January 13, 2009 at 8:45 a.m. at the Main Entrance to the UTAH County Courthouse, 75 East 80 North, Courtroom 1, American Fork, UT 84003-1660, in the County of UTAH by BRYAN W. CANNON, as Successor Trustee, and CitiMortgage, Inc., current Beneficiary, under the Deed of Trust dated November 14, 2007, made by ERIC S. YERGENSEN, as Trustor recorded November 19, 2007 as Entry No. 162689:2007 of official records of UTAH county, given to secure indebtedness in favor of CitiMortgage, Inc. by reason of certain cer-tain obligations secured thereby. Notice of Default was recorded September 15, 2008 as Entry No. 101 709:2008 of said official records. Trustee will sell at public auction to the highest bidder payable in lawful law-ful money of the United States, without warranty as to title, possession posses-sion or encumbrances. Bidders must be prepared to tender the purchase pur-chase price in the amount bid within 24 hours of the sale by cashiers check. The address of the property is purported to be 572 South Cascade Court, Alpine, UT 84004 more particularly described as follows: LOT 611, PLAT F, THE PARK AT SOUTH POINTE SUBDIVISION, ALPINE, UTAH, ACCORDING TO THE OFFICIAL PLAT THEREOF RECORDED IN THE OFFICE OF THE UTAH COUNTY RECORDER. The undersigned disclaims liability for any error in the address. The record owner(s) of the property as of the recording of the Notice of Default are Eric S. Yergensen. This sale is for the purpose of paying obligations secured by said Deed of Trust including fees, charges and expenses of Trustee, advances, ad-vances, if any, under the terms of said Deed of Trust, interest thereon and the unpaid principal of the note secured by said Deed of Trust with interest thereon as in said note and by law provided. DATED this 9th day of December, 2008. BRYAN W. CANNON 8619 South Sandy Parkway Building A, Suite 111 Sandy, Utah 84070 www.cannonfirm.com Office Hours: M-F 8am - 5pm Phone: (801)255-7475 Cannon File 80020193 Published in North County Newpapers Dec. 18 & 25, 2008 & Jan. 1, 2009. 00335642 ADVERTISEMENT FOR BIDS AMERICAN FORK CITY has determined to re-bid the AFPI Schedule III project. Separate sealed Bids for the Construction of the American Fork Pressurized Pres-surized Irrigation - Schedule III Distribution REBID will be received by American Fork, until 2:00 PM MDST, January 13. 2009. ' Sealed proposals should be mailed or hand delivered to: American Fork City Recorder's office located at 51 East Center, American Fork, Utah 84003, and should be clearly marked "sealed proposal." Please reference Secondary Irrigation Bid 80-2008 on all documents pertaining per-taining to the proposal. Bids will be opened and read aloud at 2J25 EM MDST, on January 13. 2009. The principal items of work are approximately as follows: Furnish and Install approx. 54.200 feet of irrigation pipe, with valves. appurtenances, services, and related items. A mandatory pre-bid conference will be held at the American Fork City Administration Building, 51 East Main Street, American Fork, Utah 84003 on Tuesday January 6. 2009 2:00 PM MDST. The purpose of this conference will be to discuss questions bidders may have on the project and clarify the intent of the plans and specifications. specifi-cations. Plans will be available Thursday, December 18, 2008. Copies of the CONTRACT DOCUMENTS may be obtained at the office of-fice of Franson Civil Engineers, 1276 South 820 East, Suite 100, American Fork, Utah 84003, upon payment of $50.00 for each set, none of which will be refunded. The ENGINEER is Bruce Nieveen, P.E. All BIDDERS are required to have payment and performance bonds underwritten by a Surety Company approved by the U.S. Department of the Treasury. Engineers estimate is $2,300,000. Published in North County Newspapers Dec. 18, 2008. 00335645 NOTICE TO WATER USERS The State Engineer received the following Application(s) in Utah County (Locations in SLB&M). For more information or to receive a copy of filings, visit http:waterrights.utah.gov or call 1-866-882-4426. Persons objecting to an application must file a CLEARLY READABLE protest stating FILING NUMBER, REASONS FOR OBJECTION, PROTESTANTS' NAME AND RETURN ADDRESS, and any request for a hearing. Protest must be filed with the State Engineer, Box 146300, Salt Lake City, UT 84114-6300 on or before JANUARY 7, 2009. These are informal proceedings as per Rule R655-6-2 of the Division of Water Rights. (The Period of Use is generally year-round except irrigation which is generally tram Apr 1 to Oct 31 each year.) CHANGE APPLICATION(S) 55-12394(a35049): Neal T. Chadwick propose(s) using 3.0 ac-ft. from groundwater (5 Miles NE from Fairfield) for IRRIGATION. . Jerry D. Olds, P.E. STATE ENGINEER Published in North County Newspapers on Dec. 11 & 18, 2008. 00335273 UPAXLP We don't bowl anymore ,. DebbyLauret ' Everywhere you turn, there is bad economic news. People are being laid off, stores are closing, and homes are being foreclosed. Some blame Wall Street, sub-prime mortgages, and greed, but I maintain one of the reasons we are having difficult times is that we don't bowl together in leagues anymore. any-more. In my master's studies at the Romney Institute at BYU, we discussed a case in which a prominent economist discussed dis-cussed the value of bowling leagues. His premise was that when, we bo wl together we create relationships of trust. We spend time together, we learn about each other, and we create friendships. He predicted that because we don't bowl together in leagues anymore our economy would eventually break down. Relationships and trust are. VISIT USONLINE AT www.lieraldextra.com, keys to, economic prosperity. Without .'trust and honesty, . ; banks won't lend money , " people won't invest in their new ideas and transactions between people cease. When we care about people, we care about their business. So, in this difficult economic time, my sug otion is to get to know your neighbors, the banker down the street, and the pharmacist at the local (drug store. Spend time doing things with people and creating creat-ing relationships. Join your local chamber, Rotary Club or Neighbors in Action. Create relationships of trust and dust off your old bowling ball. Our economy depends on strikes, . spares and, S few gutters 1 iy I Debby Lauret is the executive director of American Fork Chamber of Commerce and the eeonomitidvelopment director forAmerican Fork. Business booming at Caleb Warnock DAILY HERALD Y If he business of being a Mormon private school is a good business to be in, even as recession buckles the global economy. econo-my. Utah's only private LDS-based . high school is basking in a rare, bright spot amid a gloomy economy. I AFTER YEARS OF BURROWING BUR-ROWING through municipal red tape, the Liahona Preparatory Prepa-ratory Academy in Pleasant Grove has finally moved into its new school building, just in time to see its enrollment boom. You read that right. A downward-spiraling economy has brought many businesses to their knees, but this private school, with monthly tuition fees ranging from $225 to $305, has seen a jump in students. stu-dents. "We are doing incredibly well," said Brent DeGraff , who founded the school 12 years ago with his wife, Kolleen. The high school now has 185 students, compared to about 120 two years ago. Liahona's distance education program has been upgraded to use streaming Web video rather than snail-mailed DVDs, and enrollment here has jumped to 1,850 students, up from 1,300 two years ago. In addition, Liahona has started an elementary school in its old school building, also in Pleasant Grove. So what is driving the yen for private LDS-based schooling? school-ing? The answer is two-fold, the DeGraffs said. First, more arid more conservative f amilies around the nation, put off by increasingly liberal textbooks and public school curriculum, are looking for established al- Legacy Auto Grace Leong ' ' DAILY HERALD Some car dealerships in Utah are becoming casualties of a deepening credit crisis that has helped push the nation's Big Three automakers to the brink of collapse. Legacy Auto Group, a St. George holding company for two Mazda, Mitsubishi and Subaru franchise dealerships in Orem and St. George, laid off a total of up to 80 sales and accounting ac-counting workers on Wednesday Wednes-day because a major lender is pulling its financing, forcing the company into a severe cash crunch. . ,r. ...... , ( Kirk Bengtzen, founder v and president of Legacy Auto,; said there are 12 workers left at the Orem Legacy Mazda ' dealership's management and service departments, and five workers left at the Legacy Mitsubishi Mit-subishi Subaru dealership in St. George. Prior to the layoffs, the Orem dealership had 60 workers work-ers and the St. George dealership dealer-ship had about 50 workers. In addition, the company is also cutting its open hours as part of the cost cutting measure. mea-sure. "We lost our lender, a national bank in the East Coast after it got sold to another bank recently, and the new entity en-tity is now pulling away from doing business with auto dealers," deal-ers," Bengtzen said. "We're laying off workers because we don't have the cash to continue running the business at full speed. And if I can't secure alternative financing in the next few weeks, we'll go out of business.,"; '. Bengtzen said he is now working with a separate new lender to get financing for a $30 million package. "There's a 50-50 chance I'll get it. I've tried everything, private investors, selling part of my real estate the land and buildings for the dealerships dealer-ships to free up equity. But people are afraid to invest in car dealerships now," he said. Like many SUV and truck dealers across the country, Legacy Auto was hit hard earlier this year when gas prices skyrocketed to $4 levels. lev-els. "Most of our used car sales in general have always been SUVs and trucks. Suddenly nobody no-body was buying them and the value of our inventory dropped & i ' . fA ; M. 1 j . '' ''' ' CKAIw uiLUtKuaiiy nerdiu Students at Liahona Preparatory Academy stop at their lockers and socialize between classes on Dec. 11. Enrollment at; the private LDS-based school has been growing the past two years. : ' : ternatives with an LDS bent. And second, the majority i" of Liahona's new students , V .' nine within the past two weeks are coming from other, more costly private , schools. Families still want . the private school experience, but are looking for less costly alternatives, and Liahona apparently ap-parently fits the bill, the DeGraffs said. Still, some families of students stu-dents have been caught in the global economic meltdown. Rather than lose good students, stu-dents, and noting their increasing increas-ing enrollment, the DeGraffs said they decided to double their hardship scholarships from six to 12 this year, rather than lose some students whose families could no longer afford the tuition. Just for the record, there are no more hardship scholarships available, the couple said. The new high school has been so successful that The Church of Jesus Christ of Latter-day Saints has brought in a temporary classroom to teach seminary behind the high school, and has plans for a permanent per-manent seminary next door. The road to this success has been rough. Liahona's plans were put on hold more than once as Pleasant Grove fought with developers of nearby land lays off workers in Orem, St. George drastically. I took $500,000 in losses when I liquidated them. And then suddenly, the banks started having problems in September." Kelly Matthews, executive vice president and senior economist econ-omist with Wells Fargo, said financial institutions are now more careful in their evaluation evalua-tion of a borrower's credit risk in the wake of the subprime mortgage meltdown. "It's the same story for auto dealers. The fact that some of them are not getting financed now may be because their underlying credit quality is worrisome with the huge drop off in the number of car sales," Matthews said. Bengtzen said auto sales at his two dealerships are off 25 percent this year because of high gas prices earlier this year, a retrenchment in consumer spending and misconceptions among consumers that they won't be able to get financing. "When car sales are down, their cash flow is down. And if a company has a substantial reduction re-duction in cash flow, it reduces their ability to qualify for credit," Matthews said. "This is a difficult economic environment, environ-ment, and uncertainty over the auto industry is'ievident and consumer weakness is very evident. We're now paying the debt for the rapid expansion of credit in recent years." Bengtzer ".aid more than 30 to 40 banks . .aiionwide that provide financing to auto dealerships deal-erships have pulled out because of concerns over the health of the auto industry. "Numerous dealers across the country who lost their credit lines have gone out of business because they can't get qualifiedjor a new one," he said. ' "But most of the dealers that have gone out of t&isiness are leveraged up to ICR) percent. I'm not. I have millions of dollars dol-lars of equity in the two dealerships. dealer-ships. I used to be jble to get 80 to 85 percent loans with no problems, But now most banks are only offering 60-C5 percent. per-cent. Banks are very tight with cash now," Bengtzen said. "Most car dealers here are big enough and solid enough and been around long enough to weather the storm. Unfortunately, Unfor-tunately, I'm the new poor guy on the block," he said. Bengtzen has 16 years of ex- LDS - based on unrelated issues, forcing Liahona to delay construction of its new building. The city actually moved the school to a new location at one point. At the beginning of this school year, another developer devel-oper went bankrupt, failing to build the only access road to the new school. With no other choice, Liahona was forced to pay $200,000 to build the road, though over time nearby development de-velopment may repay some of that cost. "We agreed to take on that project," said Brent DeGraff wryly. Already delayed a week, the school had to hold classes at Thanksgiving Point for a week before moving into its new location in September. And within recent months, both of the banks that have lent the school a total of $2.2 million for its new building have gone bankrupt, forcing federal insurers in-surers to step in to relocate the school's loans. The couple found out about the first bankruptcy while watching television in bed on a Saturday morning. "I came straight out of bed," said Kolleen DeGraff. Having withstood all that, Brent and Kolleen DeGraff say they are just grateful that while they have taken on more ran I ZUtl r, ir- i ii I, r i i I , Jf jJlr v -- '. '.. "S--- - T ji ".Jaw" - 'S- ''.'"v- . V,Z - - -r J"' DAVIS ARCHIBALDDaily Herald Cars at Legacy Mazda in Orem on Dec. J 1, in Orem. Legacy Mazda has had to layoff employees and limit their hours of operation because of credit issues. . ( perience in the auto industry with companies including the Salt Lake BMW and Nissan dealerships and Ken Garff Automotive Group, where he was general sales manager for West Valley Dodge and Spartan Spar-tan Chrysler Jeep. Bengtzen said he has about $9 million; worth of inventory at his two dealerships, and would rather sell them quickly so another dealer can keep the existing employees and hopefully, bring more workers back. "But in today's market, it's hard for any dealer to get financing. If I can't get the alternative financing and can't find a new buyer, then the 250 to 300 used cars will be auctioned auc-tioned off and the 300 new cars will go back to the factories." The National Automobile Dealers Association has predicted pre-dicted that 900 of the nation's , high school debt than ever in the school's 12-year history, the school is financially stable, thanks to increasing demand. The couple has deliberately grown their school slowly, refusing re-fusing even to build a gym or a larger building because they wanted to be conservative with their debt, they said. "We are financially solid," said Kolleen DeGraff, noting that the school has not relied on any f undraising to meet its payroll or debt payments. "We have been very careful." Tuition here ranges from $225 per month for non-accredited non-accredited students at the new high school, to $305 for accredited ac-credited students. For distance education students, fees range from $110 to $170 a month, and elementary school fees range from $195 to $225 per month. The LDS base for education here is evident even on the school walls. "Does God have a place in science?" has been painted on one classroom wall. In another classroom, over a picture of Jesus Christ, was this: "U.S. History is His-story of America" His-story being a reference to Christ. For information on Liahona Preparatory Academy, call 785-7850 or visit www.Lia-honaEducation.com. MAZDA ay J, 20,770 new-car dealers will have gone out of business by the end of this year, and many auto industry experts say that estimate will rise to thousands in 2009. Auto dealerships are an economic eco-nomic force nationwide, employing em-ploying some 1 million people. In the past, their sales accounted account-ed for as much as 20 percent of sales tax revenue for state and local governments, according to the association. "I spend about $100,000 to $120,000 a month in advertising advertis-ing dollars in Utah. This morning, morn-ing, I cut all my advertising to the TV and radio stations and newspapers. Not only are my employees affected, the community is impacted too," Bengtzen said. His two dealerships dealer-ships contribute about $250,000 a month in sales taxes to the state. . , 7T i r, - I Si |