Maricopa Manor auction postponed again

The trustee auction of the Maricopa Manor Business Center has been postponed for the fourth time in two months.

The auction was scheduled for 10 a.m. today, but was postponed, according to Alma Farrell, who owns the business center with her son, Edward.

A paralegal from the Phoenix office of Ryley, Carlock and Applewhite, the law firm representing the lender, Great Western Bank, said the auction had been reschuled to 10 a.m. on July 29.

The first date for the auction was June 14.

 

The Farrells had defaulted on three loans to the bank totaling nearly $4 million. They also owed property taxes and flood insurance on the business center at John Wayne Parkway and Garvey Avenue, according to court documents.

 

Edward, who is the city’s vice mayor, said the first time the auction was rescheduled he was working on a loan modification with the bank. He did not immediately return a phone message left today.