Hans Seibt's former Desert Retreat RV Park, now being operated by the first trust deed holder as Nevada Treasure Luxury RV Park, will be auctioned off in a trustee's sale at 11 a.m. April 22 at the Nye County Courthouse in Tonopah.

The notice of trustees sale published in the Pahrump Valley Times Wednesday states Cal-Western Reconveyance Corp. is selling the property to recover an unpaid $8.56 million obligation owed by Seibt's Clark and Nye County Development Corp.

It would be the second major foreclosure sale of a recreational center in Pahrump in the last year. The 9.1-acre Willow Creek clubhouse site was transferred back to the lender, Ashland Capital Corp., to satisfy a $400,000 note in a deed recorded Jan. 5.

Jim Hill, a San Diego-based attorney for the creditor, D&A Semi-Annual Mortgage Fund III Limited Partnership, said the filing of Chapter 7 bankruptcy by Seibt last September stayed the foreclosure sale for some time, but his client, the creditors, obtained the bankruptcy court's approval to proceed in a "unitary sale."

A unitary sale means the resort will be sold in one piece with all its amenities, including 188 lots with hookups, the bowling alley, fitness center, swimming pool with waterfalls, putting green, RV wash area, pet bathing area, Jacuzzi, convention center and restaurant.

The 24-acre site was once part of the Calvada Sports Complex before Seibt acquired the property on the north end of Leslie Road at the junction of Highway 160, following the Preferred Equities Corporation bankruptcy.

"I can't comment on who would possibly buy it. My understanding is there are several parties that expressed an interest in bidding. We just don't know," Hill said.

When it comes to a number of junior creditors from Pahrump, Hill said the sale would extinguish Seibt's interest in the property and the Clark and Nye Development Corp.

"Their last bit of ownership claims to the property would be terminated," Hill said. "I'm sure my client would strongly encourage [other creditors] to come buy it for cash."

The creditor's motion for relief from the bankruptcy stay mentions Clark and Nye Development Corp. took out a $7 million promissory note on June 23, 2006, which was payable back in 17 monthly payments of $7,000 per month.

The suit claims Seibt made the last payment June 1, 2008, and has been in default ever since. D&A Semi-Annual Mortgage Fund III filed a motion for an order to appoint a receiver, enter a temporary restraining order, a request for a preliminary injunction and an order to show cause. One day before that hearing was scheduled, on Sept. 25, 2008, Seibt filed for Chapter 7 relief.

Certified public accountant Lawrence Bertsch was appointed the receiver in an action filed in 5th District Court and took possession of the property.

The suit claims D&A had to advance hundreds of thousands of dollars to keep the property operating. The total principal due is $6.91 million, the rest of the $8.2 million owed is in interest, late charges and $449,918 in advances.

Appraiser Glenn Anderson estimated the fair market value of the property at $8.12 million. His appraisal says only 14 of the 202 condominium RV lots were sold at prices ranging from $54,000 to $155,000. The remaining 188 RV lots have full hook-ups and range from 1,200 to 4,000 square feet.

Anderson said the income potential of the RV resort would be enough to satisfy the debt, but he said the convention center, which forms much of the 42,074-square-foot mixed-use building, was functionally obsolescent.

The appraisal includes comments from the manager of Terrible's Lakeside RV Park, who estimated a 45 to 50 percent average occupancy rate but a 100 percent occupancy rate in fall and spring. Preferred RV Resort noted they were 90 to 95 percent occupied at the time of the appraisal.

"The debtor clearly has no equity in the property. The debtor has admitted as much -- a position supported by the fact that the debtor abandoned the property," the suit claims.

It adds, "it is undisputed that the debtor is not attempting to reorganize."

As of last October, "the junior secured creditors holding the second deed of trust on the real property contend that they are owed approximately $5 million," the suit claims.

Hill said there shouldn't be any last minute obstacles to stop the sale.

"Our client doesn't want to own any of the properties. Our client wants to be a lender and get paid," he said.

The property will be sold at public auction to the highest bidder for cash, cashier's check drawn on a state or national bank, a check drawn by a state or federal credit union or a check drawn by a state or federal savings and loan association, savings association or savings bank.

In February, investigator Bill Holland confirmed he was investigating Seibt for criminal wrongdoing in a possible Ponzi scheme.