The original owners of the Tedi of Samoa and the Fagatogo Square appear to be taking back the commercial buildings.
The buildings which are owned by the late businessman Bill Tedreck and his wife Apoua, were sold several years ago to a family business group based in Los Angeles, Avapui Loa.
Calvin Tagaloa was their local representative and manager of the building.
Early this week, tenants were served a letter from attorney David Vargas advising that he was acting on behalf of the mortgagee for both the Tedi of Samoa Building and the Fagatogo Square.
The July 23rd letter advised that Vargas’ client is in the process of foreclosing the mortgage and exercising their rights under the mortgage and promissory note for the property.
“Specifically the mortgagee will be exercising its rights under the mortgage and will be taking possession of the property effective immediately,” wrote the attorney.
Vargas said tenants are now required to remit all future rent to Albert or Ana Young at the PJK Fish Market in Utulei and if they fail to pay the rent as instructed “it will be at their own peril.”
The tenants were also told that the mortgagee is authorized under the mortgage with Avapui Loa to take possession of the premises and to receive rents due on the mortgaged property when the mortgagor, Avapui Loa, defaults on the monthly payments required under the mortgage and promissory note.
The mortgage and promissory note payment obligations were declared to be in default on June 21, 2018 and Avapui Loa has failed to cure the default, said Vargas.
Tenants of the Tedi of Samoa and Fagatogo Square buildings include Congresswoman Aumua Amata’s Field Office, the American Samoa Visitors Bureau, Department of Marine and Wildlife Resources, Swire Shipping, Oxford Pacific, Trophies and Things, and a few other small businesses.
When contacted today attorney Vargas declined to comment.
