Stipulation, 125 13th St., Cresskill, NJ — United States v. The Contents of the Following Accounts (Dkt. 30-1)

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A Stipulation between the United States Attorney's Office for the District of New Jersey and the Borough of Cresskill, filed January 10, 2025 as Document 30-1 in Civil Action No. 24-5863 (Case 2:24-cv-05863-MEF-MAH), in the U.S. District Court for the District of New Jersey. The parties settle the Borough's interest in a parcel of real property in Cresskill, and the Borough consents to its forfeiture to the United States. The United States agrees not to contest payment to the Borough, from sale proceeds after liens and listed costs, of outstanding taxes and statutory interest, including an amount due through the fourth quarter of 2024 of $262,020.67. The Borough agrees to assign its security interest and release the United States from claims.

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Case 2:24-cv-05863-MEF-MAH Document 30-1 Filed 01/10/25 Page 1 of 7 PagelD:
197

UNITED STATES DISTRICT COURT
DISTRICT OF NEW JERSEY

UNITED STATES OF AMERICA
Hon. Michael E. Farbiarz

V.
Civil Action No. 24-5863
THE CONTENTS OF THE
FOLLOWING ACCOUNTS: STIPULATION
(125 13th St., Cresskill, NJ)
JP MORGAN CHASE ACCOUNT
ENDING IN 9483 IN THE NAME
OF JAE CHOI ATTORNEY TRUST
ACCOUNT;

BANK OF AMERICA ACCOUNT
ENDING IN 4685 IN THE NAME
OF SMART LEARNING, INC.;

JP MORGAN CHASE ACCOUNT
ENDING IN 0711 IN THE NAME
OF HEE AH NAM;

TD BANK ACCOUNT ENDING IN
2483 IN THE NAME OF HEE AH
NAM;

TD BANK ACCOUNT ENDING IN
1237 IN THE NAME OF HEE AH
NAM;

BANK OF AMERICA ACCOUNT
ENDING IN 6030 IN THE NAME
OF HEE AH NAM;
Case 2:24-cv-05863-MEF-MAH Document 30-1 Filed 01/10/25 Page 2 of 7 PagelD:
198

BANK OF AMERICA ACCOUNT
ENDING IN 6043 IN THE NAME
OF HEE AH NAM;

JP MORGAN CHASE ACCOUNT
ENDING IN 9900 IN THE NAME
OF HUDSON ASSET HOLDING
CORP;

JP MORGAN CHASE ACCOUNT
ENDING IN 4413 IN THE NAME
OF HUDSON ASSET HOLDING
CORP;

JP MORGAN CHASE ACCOUNT
ENDING IN 0353 IN THE NAME
OF VIRTUA EDUCATION, INC.;

JP MORGAN CHASE ACCOUNT
ENDING IN 4827 IN THE NAME
OF VIRTUA EDUCATION, INC.;

AND

TD AMERITRADE ACCOUNT
ENDING IN 2857 IN THE NAME
OF HEE AH NAM; AND

THE REAL PROPERTY LOCATED
AT 125 13TH STREET,
CRESSKILL, NEW JERSEY,

Defendants in rem.

IT IS HEREBY STIPULATED and AGREED by and between the United
States Attorney’s Office for the District of New Jersey (Vikas Khanna, Acting
United States Attorney) (the “United States”), and BOROUGH OF CRESSKILL
“BOROUGH OF CRESSKILL’), to compromise and settle its interest in the

following property:
Case 2:24-cv-05863-MEF-MAH Document 30-1 Filed 01/10/25 Page 3 of 7 PagelD:
199

ALL THAT CERTAIN tract, lot and parcel of land lying
and being in the Borough of Cresskill, County of
Bergen and State of New Jersey, being more
particularly described as follows:

KNOWN AND DESIGNATED as Lot Z169-Z15 Block 20
as show on a certain map entitled, “‘Z’ Series Lot
Layout, Merritt Park, located in Cresskill, New Jersey”
filed in the Bergen County Clerk’s Office on May 14,
1926 as Map No. 206.

Being further described as follows:

BEGINNING at a rebar with a cap found in the
Northwesterly sideline of 13 Street (50’ ROW), said
point being a distance of 500.00 feet from its
intersection with the Southwesterly sideline of Stivers
Street (50’ ROW), and running; thence,

1) Along the aforementioned sideline of 13th Street,
South 06 degrees 25 minutes 05 seconds West, a
distance of 133 feet to a rebar with cap found;
thence,

2) Leaving said sideline of 13 Street North 83 degress
34 minutes 55 seconds West, a distance of 168.00
feet to a rebar with cap found; thence,

3) North 12 degrees 46 minutes 04 seconds East, a
distance of 133.82 feet to a rebar with cap found;
thence,

4) South 83 degress 34 minutes 55 seconds East, a
distance of 153.20 feet to a point and place of
BEGINNING.

Containing 21,359.6 S.F. | 0.490 Acres

Note: For Informational Purposes Only: Lots 169, 170-
175.01 Block 142 on a Tax Map of the Borough of
Cresskill County of Bergen.

BEING the same premises which Michael Saudino,
Sheriff of the County of Bergen in the State of New
Jersey, by Deed dated 02/07/2018 and recorded

05/15/2018 in the Bergen County Clerk’s Office in

3
Case 2:24-cv-05863-MEF-MAH Document 30-1 Filed 01/10/25 Page 4 of 7 PagelD:
200

Virtual Book 2941, Page 722, granted and conveyed
unto U.S. Bank National Association, as Trustee for
Citigroup Mortgage Loan Trust, Inc., Mortgage Pass-
Through Certificates, Series 2006-AR9.

The street address of the Property is: 125 13th Street,
Cresskill, NJ 07626.

(hereinafter the “Property”).

1. BOROUGH OF CRESSKILL was a bona fide purchaser for value of
its asserted right, title, or interest in the Property, and any violations of the
federal bank fraud and money laundering laws, involving the Property occurred
without knowledge and consent of BOROUGH OF CRESSKILL.

2. On the terms set forth herein, BOROUGH OF CRESSKILL hereby
consents to the forfeiture of the Property to the United States.

oF The United States agrees that upon (i) the interlocutory sale of the
Property pursuant to an order of the Court, or upon (ii) the entry of a final
order of forfeiture forfeiting the Property to the United States and the sale of
the Property pursuant to the final order of forfeiture, the United States will not
contest payment to BOROUGH OF CRESSKILL from the proceeds of sale, after
payment of valid liens, real estate commissions, insurance costs, escrow fees,
document recording fees not paid by the buyer, title fees, county transfer fees,
and expenses incurred by the Treasury Department in connection with its

custody and sale of the Property, the following:

(a) Any outstanding taxes and statutory interest, including the
amount due through the fourth quarter of
2024 (said amount is $262,020.67). The final tax amount
due to the Borough of Cresskill shall increase, until the
property is sold, with the final sum being established
pursuant to Affidavit of the Cresskill Tax Collector through
the date of closing, inclusive of per diem interest charges.

4. The payment to the BOROUGH OF CRESSKILL shail be in full
settlement and satisfaction of all claims by the BOROUGH OF CRESSKILL

4
Case 2:24-cv-05863-MEF-MAH Document 30-1 Filed 01/10/25 Page 5 of 7 PagelD:
201

arising from and relating to the seizure, detention, and forfeiture of the
Property.

5. Upon payment, the BOROUGH OF CRESSKILL agrees to assign
and convey its security interest to the United States via recordable documents
and to release and hold harmless the United States, and any agents, servants,
and employees of the United States (and any involved state or local law
enforcement agencies and their agents, servants, or employees), in their
individual or official capacities, from any and all claims by the BOROUGH OF
CRESSKILL and its agents that currently exist or that may arise as a result of
the Government’s actions against and relating to the property.

6. The BOROUGH OF CRESSKILL agrees not to pursue any other
rights it may have, including but not limited to the right to foreclose upon and
sell the Property and any right to assess additional interest or penalties.

7. The BOROUGH OF CRESSKILL agrees to notify the U.S. Attorney
promptly if it learns of any condition that might affect the sale of the Property,
and to join in any motion by the United States to effect the sale of the Property,
including motions to remove occupants who fail to abide by the terms of an
occupancy agreement.

7. The BOROUGH OF CRESSKILL understands and agrees that this
Stipulation constitutes a full and final settlement of its interest in the Property
and it waives any rights to litigate further its interest in the Property and
further pursue remission or mitigation of the forfeiture.

8. The BOROUGH OF CRESSKILL understands and agrees that the
United States reserves the right, in its discretion, to terminate the forfeiture at
any time and release the Property. In such event, the Government shall notify
the BOROUGH OF CRESSKILL of such action within seven (7) business days of

such release. A discretionary termination of forfeiture shall not be a basis for
Case 2:24-cv-05863-MEF-MAH Document 30-1 Filed 01/10/25 Page 6 of 7 PagelD:
202

any award of fees but shall result in a reinstatement of all claims of the
BOROUGH OF CRESSKILL for payment in relation to the Property that are
otherwise waived by the terms of this Stipulation.

9. The parties agree to execute further documents, to the extent
necessary, to convey clear title to the Property to the United States and to
implement further the terms of this Stipulation.

10. ‘Each party agrees to bear its own costs and attorneys’ fees, except
as otherwise provided for in paragraph 3 above.

11. Payment to the BOROUGH OF CRESSKILL pursuant to this
Stipulation is contingent upon (i) a Court-ordered interlocutory sale of the
Property; or (ii) the entry of a final order of forfeiture forfeiting the Property to
the United States and the sale of the Property pursuant to the final order of
forfeiture.

12. This Stipulation may be executed in counterparts, each of which
shall be deemed an original, and all of Which, when taken together, shall be
deemed the complete Stipulation.

13. The individual(s) signing this Stipulation on behalf of the
BOROUGH OF CRESSKILL represent and warrant that they are authorized by
the BOROUGH OF CRESSKILL to execute this Stipulation. The undersigned
United States signatory represents that he is signing this Stipulation in his
official capacity and that he is authorized to execute this Stipulation.

14. The parties agree that the Court shall have exclusive jurisdiction
over the interpretation and enforcement of this Stipulation.

15. This Stipulation constitutes the complete agreement between the

parties hereto and may not be amended except by written consent thereof.
Case 2:24-cv-05863-MEF-MAH

January 10, 2025
Dated: a

Document 30-1 Filed 01/10/25 Page 7 of 7 PagelD:
203

VIKAS KHANNA
Acting United States Attorney

PETER A. LASERNA
Assistant United States Attorney

For BOROUGH OF CRESSKILL

By:

orough Attorney

“Ni


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