Vortex Springs Resort Foreclosure

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I just read this on Craigslist.

VORTEX SPRING RESORT FORECLOSURE

VORTEX SPRING DIVING RESORT FORECLOSURE SALE NOTICE:

Vortex Spring which is a fresh water spring (natural resource), diving resort and swimmers paradise along with an 8 inch monitoring well on site for drinking and water bottling purposes, is located in Ponce de Leon, Florida.

In April of 2007 the property was sold , foreclosure action was pursued and currently the property is scheduled for a foreclosure sale on the steps of the Holmes County, Florida Court House on October 18, 2012 at 11:00 AM. The final judgment amount is $13,765,782.33 USD. This information can be verified thru the following link: Holmes Clerk of Court Home Page

The Foreclosure sale can be stopped upon satisfaction of the judgment, which also means that it can be purchased pre-foreclosure sale.

Vortex Spring Resort consists of 3 adjoining parcels that total 419.62 +/- and the heart of the property is the freshwater spring. These parcels are continuous acreages and are located 4.8 miles North of Interstate 10 corridor, Exit 96 on Hwy 81 North.

Listed below you will find each of the Parcel ID numbers and the legal descriptions. This information can be verified thru the following link: Welcome to the Holmes County Property Appraiser's Office

Parcel ID: 1808.00-000-000-012.000
Legal Description: S1/2 OF NE1/4 LESS 3 AC TORD #181 OR 86/708 OR 244/526 LESS 19.2 AC OR 269/869 WD- OR413/445 QC-OR426/34 QC-OR425/708

Parcel ID: 1809.00-000-000-008.000
Legal Description: THAT PART OF W1/2 OF SE1/4N OF COUNTY RD OR 128/32 DES IN OR 158/356 WD-OR413/445 ALSO COMMENCING AT THE SOUTHWEST CORNER OF THE NW1/4 OF SECTION 9, T-4-N, R-17-W, HOLMES COUNTY, FLORIDA, RUN S89ø03'34"E, ALONG THE SOUTH LINE OF SAID NWL/4, 98'0.15 FEET TO THE POINT OF BEGINNING; THENCE RUN NOO-24'22"W, 182.81 FEET; THENCE N89ø34'43"E, 135.78 FEET; THENCE NOO-06'16"W, 267.21 FEET; THENCE N89ø52'17"E, 70.74 FEET TO THE WATER'S EDGE OF VORTEX SPRING; THENCE ALONG THE WATER'S EDGE OF SAID SPRING THE FOLLOWING COURSES: S24ø02'57"E 69.10 FEET; THENCE S51ø03'25"E, 60.47 FEET; THENCE N85ø44'29"E, 76.41 FEET; THENCE N52ø25'53"E 45.13 FEET; THENCE N17ø52'05"E, 81.21 FEET; THENCE N01ø39'O1"E, 43.75 FEET; THENCE N35ø34'02"E, 24.79 FEET; THENCE N70-15'15"E, 24.60 FEET; THENCE DEPARTING SAID WATER'S EDGE, RUN S59ø46'39"E ALONG A FOUR FOOT CHAIN LINK FENCE, 154.80 FEET; THENCE CONTINUE ALONG FENCE S48ø34'15"E, 116.56 FEET; THENCE CONTINUE ALONG SAID FENCE, S05ø02'59"E, 314.74 FEET TO THE END OF SAID FENCE; THENCE CONTINUE S05ø02'59"E, 75.81 FEET TO THE SOUTH LINE OF THE NW1/4 OF SECTION 9; THENCE N89ø03'34"W ALONG SAID LINE,711.26 FEET TO THE POINT OF BEGINNING. WD-OR413/445 QC-OR426/34 QC-OR425/708

And

Parcel ID: 1809.00-000-000-009.000
Legal Description: 61/711 COMMENCING AT THE SOUTHWEST CORNER OF THE NW1/4 OF SECTION 9, T-4-N, R-17-W, HOLMES COUNTY, FLORIDA, RUN S89ø03'34"E, ALONG THE SOUTH LINE OF SAID NW1/4, 98'0.15 FEET TO THE POINT OF BEGINNING; THENCE RUN NOO-24'22"W, 182.81 FEET; THENCE N89ø34'43"E, 135.78 FEET; THENCE NOO-06'16"W, 267.21 FEET; THENCE N89ø52'17"E, 70.74 FEET TO THE WATER'S EDGE OF VORTEX SPRING; THENCE ALONG THE WATER'S EDGE OF SAID SPRING THE FOLLOWING COURSES: S24ø02'57"E 69.10 FEET; THENCE S51ø03'25"E, 60.47 FEET; THENCE N85ø44'29"E, 76.41 FEET; THENCE N52ø25'53"E 45.13 FEET; THENCE N17ø52'05"E, 81.21 FEET; THENCE N01ø39'O1"E, 43.75 FEET; THENCE N35ø34'02"E, 24.79 FEET; THENCE N70-15'15"E, 24.60 FEET; THENCE DEPARTING SAID WATER'S EDGE, RUN S59ø46'39"E ALONG A FOUR FOOT CHAIN LINK FENCE, 154.80 FEET; THENCE CONTINUE ALONG SAID FENCE S48ø34'15"E, 116.56 FEET; THENCE CONTINUE ALONG SAID FENCE, S05ø02'59"E, 314.74 FEET TO THE END OF SAID FENCE; THENCE CONTINUE S05ø02'59"E, 75.81 FEET TO THE SOUTH LINE OF THE NW1/4 OF SECTION 9; THENCE N89ø03'34"W ALONG SAID LINE,711.26 FEET TO THE POINT OF BEGINNING. CONTAINS 6.0 ACRES, MORE OR LESS. LIFE EST WD-OR413/445 QC-OR425/708

Vortex Spring Resort was developed and owned by divers who have a true love for freshwater springs. The spring itself sits in a valley surrounded by rolling hills and majestic pines. It has a flow rate of nearly 28 million gallons of gin clear water per day and maintains a temperature of 68 degrees year round. The spring basin is 50 feet deep at the mouth of the ledge-like cavern and for the more experienced diver there is an additional 100 yards of diving that is a garage sized tunnel and reaches a depth of 115 feet.
Vortex Spring Resort is known as one of the largest diving facilities in the State of Florida. There are student training platforms at the 20 foot level along with a talk box for the instructor. Divisions of EMS from around the country have used this resort for their own training facility as well as dive centers from all along the Gulf Coast and beyond. Vortex Spring Resort brings individual divers on a weekly basis from all over the United States and abroad. It has been referred to as "The Mecca of Dive Training" per Southern Diver Magazine and to this day still upholds that title. On site PADI instructors offer the following classes for certification: Discover Scuba, Open Water, Advanced Open Water, Enriched Air Nitrox, First Responder (CPR), Rescue Diver, Dive Master and Cavern/Cave Diving.
In addition to Diving, Vortex Spring Resort offers canoeing, swimming with diving boards, slides, zip line, an old fashioned rope swing and snorkeling. There are also Camping Facilities to include Cabins, Lodges, Pull thru sites, primitive sites and upscale lodging. The campground is well lit and offers a bath house, picnic tables, grills, electricity and RV sewage dump station on property. There are nature trails, ATV trails, horse trails, motor cross track, go cart track and a full service dive shop/camp store to cater to all of the customer's needs.

This property includes the 1800 sq foot manager's home/classroom/office facility and the option of the 7800 sq foot main residence and 3200 sq ft private garage pre-foreclosure.

Vortex Spring is a privately owned Natural Resource, a freshwater spring and has surrounding acreages that help to support it. It has been more than proven to be an excellent training facility on public and EMS levels as well as a great source for public recreation due to all of the amenities this property offers.

In addition to the Natural Resource there are miles of trails already developed and there is plenty of room for expansion of all existing trails. There is also plenty of land to dedicate to forestland and wetlands that are created by nearby creeks and flow from the spring itself.

The surrounding acreages to this property are also available if it is so desired.

Vortex Spring Resort has been developed, managed and maintained by the Dockery family for over 35 years. It has been a true labor of love as the developer/owner of Vortex Spring who was also a diver and the creator of the Divers Down Flag.
Just a few web sites for your reference:
Florida Springs, Springs in Florida, Florida Cave Diving, Manatee Viewing - Florida's Springs: Protecting Nature's Gems - Florida DEP - Vortex Spring
Welcome to Vortex Spring, Florida's Gulf Coast Premier Inland Diving Resort
A Journey Through Americana: Day 18 - Day Off--Vortex Spring:
Dive Flags
This is the copy taken from the Holmes County Clerk of Court's Web Site.
FORECLOSURE SALES
The Holmes County Clerk's Office provides these records in its office and over the Internet as a public service.
If you are interested in bidding on a foreclosed property, it is recommended that you come into the Court Department of the Holmes County Clerk's Office to physically review the files we have on each foreclosure. You can also obtain information regarding future foreclosure sales by researching the legal ad section of the Holmes County Times- Advertiser. The foreclosures are published once a week for two consecutive weeks before the sale takes place.
To find out more about the property you may view the Holmes County Property Appraiser's Website at Welcome to the Holmes County Property Appraiser's Office.
If you wish to bid on a foreclosure, you must appear in person at the sale. All bids are for cash, cashier's check, or pre-approved check. Successful bidder must post five percent (5%) of the final bid at the time of the sale, with the final payment due by 4:00 P.M. on the day of the sale.
Successful bidder must pay the following in addition to the deposit:
Registry of the Court Fee -- (3% of first $500 and 1.5% of balance of bid)
Documentary Stamps for Certificate of Title -- ($.70 per $100 or fraction
thereof)
Potential buyers take the property as is. Subject to any defects, liens, encumbrances, and all matters of which buyer had notice or could have obtained knowledge, including matters pertaining to current tenants.
The following properties are scheduled to be sold to the highest bidder at the front door of the Holmes County Courthouse:

Sale Date: October 18, 2012 Denzel Dockery, et al vs. LBK, LLC, et al
Case No. 08-370CA Final Judgment: $13,765,782.33usd

If you are interested in receiving any further information you may email me thru Craigslist or call (850) 259-0370.
Thank you for your consideration.
 
IVortex Spring is a privately owned Natural Resource, a freshwater spring and has surrounding acreages that help to support it. It has been more than proven to be an excellent training facility on public and EMS levels as well as a great source for public recreation due to all of the amenities this property offers.

Sale Date: October 18, 2012 Denzel Dockery, et al vs. LBK, LLC, et al
Final Judgment: $13,765,782.33usd
OK, I am impressed. I had no idea that there was an outstanding $13 MILLION claim on Vortex. That is quite a bit of pocket change.

Wonder what happened on the 18th.
 
I saw that last week.... If only I had a cool $13mil sitting around somewhere...

Although I would have to wonder why they were foreclosed on... Was the property not bringing in enough revenue? Or was it not being managed properly?
 
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