EX-25.2 6 dex252.htm STATEMENT OF WELLS FARGO BANK, NATIONAL ASSOCIATION (FIXED RATE SENIOR NOTES) Statement of Wells Fargo Bank, National Association (Fixed Rate Senior Notes)

Exhibit 25.2

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM T-1

STATEMENT OF ELIGIBILITY

UNDER THE TRUST INDENTURE ACT OF 1939 OF A

CORPORATION DESIGNATED TO ACT AS TRUSTEE

 

 

 

¨ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO SECTION 305(b) (2)

WELLS FARGO BANK, NATIONAL ASSOCIATION

(Exact name of trustee as specified in its charter)

 

A National Banking Association   94-1347393

(Jurisdiction of incorporation or

organization if not a U.S. national bank)

 

(I.R.S. Employer

Identification No.)

 

101 North Phillips Avenue

Sioux Falls, South Dakota

  57104
(Address of principal executive offices)   (Zip code)

Wells Fargo & Company

Law Department, Trust Section

MAC N9305-175

Sixth Street and Marquette Avenue, 17th Floor

Minneapolis, Minnesota 55479

(612) 667-4608

(Name, address and telephone number of agent for service)

 

 

KAR Holdings, Inc.

(Exact name of obligor as specified in its charter)

 

Delaware   20-8744739

(State or other jurisdiction of

incorporation or organization)

 

(I.R.S. Employer

Identification No.)

 

13085 Hamilton Crossing Boulevard

Carmel, Indiana

  46032
(Address of principal executive offices)   (Zip code)

 

 

8 3/4% Senior Notes Due 2014

(Title of the indenture securities)

 

 

 

1

See Table 1 – List of additional registrants


Table 1

TABLE OF ADDITIONAL REGISTRANTS

 

Name of Additional Registrant*

  

State or Other
Jurisdiction of
Incorporation or
Formation

   Primary
Standard
Industrial
Classification
Code Number
   I.R.S Employer
Identification
Number
ADESA, Inc.    Delaware    5010    35-1842546
ADESA Corporation, LLC    Indiana    5010    35-1842546
A.D.E. of Ark-La-Tex, Inc.    Louisiana    5010    72-1417504
A.D.E. of Knoxville, LLC    Tennessee    5010    62-1532205
ADESA Ark-La-Tex, LLC    Louisiana    5010    72-1419175
ADESA Arkansas, LLC    Delaware    5010    71-0844203
ADESA Atlanta, LLC    New Jersey    5010    58-2563132
ADESA Birmingham, LLC    Alabama    5010    63-0980470
ADESA California, LLC    California    5010    91-1811682
ADESA Charlotte, LLC    North Carolina    5010    56-1853746
ADESA Colorado, LLC    Colorado    5010    84-1555543
ADESA Dealer Services, LLC    Indiana    5010    26-1218111
ADESA Des Moines, LLC    Iowa    5010    42-1486117
ADESA Florida, LLC    Florida    5010    35-1842547
ADESA Impact Texas, LLC    Texas    5010    20-5233403
ADESA Indianapolis, LLC    Indiana    5010    35-1915228
ADESA Lansing, LLC    Michigan    5010    38-3406149
ADESA Lexington, LLC    Kentucky    5010    61-1184881
ADESA Mexico, LLC    Indiana    5010    35-1842546
ADESA Missouri, LLC    Missouri    5010    43-1811816
ADESA New Jersey, LLC    New Jersey    5010    22-3339600
ADESA New York, LLC    New York    5010    16-1307133
ADESA Ohio, LLC    Ohio    5010    31-1334072
ADESA Oklahoma, LLC    Oklahoma    5010    73-1607773
ADESA Pennsylvania, LLC    Pennsylvania    5010    25-1801698
ADESA Phoenix, LLC    New Jersey    5010    86-1000467
ADESA San Diego, LLC    California    5010    41-2021208
ADESA-South Florida, LLC    Indiana    5010    35-1930710
ADESA Southern Indiana, LLC    Indiana    5010    35-1929359
ADESA Texas, Inc.    Texas    5010    74-2757736
ADESA Virginia, LLC    Virginia    5010    20-2751571
ADESA Washington, LLC    Washington    5010    91-2069348
ADESA Wisconsin, LLC    Wisconsin    5010    39-1846227
AFC Cal, LLC    California    5010    20-8709089
Asset Holdings III, L.P.    Ohio    5010    20-8709089
Auto Dealers Exchange of Concord, LLC    Massachusetts    5010    13-4284567
Auto Dealers Exchange of Memphis, LLC    Tennessee    5010    04-3165540
Automotive Finance Consumer Division, LLC    Indiana    5010    26-1218186
Automotive Finance Corporation    Indiana    5010    35-1699152
Automotive Recovery Services, Inc.    Indiana    5010    35-2123607
AutoVIN, Inc.    Indiana    5010    35-2086523
PAR, Inc.    Indiana    5010    35-2062003
Insurance Auto Auctions, Inc.    Illinois    5010    95-3790111
Insurance Auto Auctions Corp.    Delaware    5010    95-4455113
IAA Acquisition Corp.    Delaware    5010    36-4351076
IAA Services, Inc.    Illinois    7549    36-4294285
Auto Disposal Systems, Inc.    Ohio    5010    31-0954761
ADS Ashland, LLC    Ohio    5010    31-0954761
ADS Priority Transport Ltd.    Ohio    5010    31-0954761
Dent Demon, LLC    Indiana    5010    26-1530430
Sioux Falls Auto Auction, Inc.    South Dakota    5010    46-0412455
Tri-State Auction Co., Inc.    North Dakota    5010    45-0255813
Zabel & Associates, Inc.    North Dakota    5010    45-0446447

 

*Addresses and telephone numbers of principal executive offices are the same as those of KAR Holdings, Inc.


Item 1. General Information. Furnish the following information as to the trustee:

 

  (a) Name and address of each examining or supervising authority to which it is subject.

Comptroller of the Currency

Treasury Department

Washington, D.C.

Federal Deposit Insurance Corporation

Washington, D.C.

Federal Reserve Bank of San Francisco

San Francisco, California 94120

 

  (b) Whether it is authorized to exercise corporate trust powers.

The trustee is authorized to exercise corporate trust powers.

 

Item 2. Affiliations with Obligor. If the obligor is an affiliate of the trustee, describe each such affiliation.

None with respect to the trustee.

No responses are included for Items 3-14 of this Form T-1 because the obligor is not in default as provided under Item 13.

 

Item 15. Foreign Trustee. Not applicable.

 

Item 16. List of Exhibits. List below all exhibits filed as a part of this Statement of Eligibility.

 

Exhibit 1.   A copy of the Articles of Association of the trustee now in effect.*
Exhibit 2.   A copy of the Comptroller of the Currency Certificate of Corporate Existence and Fiduciary Powers for Wells Fargo Bank, National Association, dated February 4, 2004.**
Exhibit 3.   See Exhibit 2
Exhibit 4.   Copy of By-laws of the trustee as now in effect.***
Exhibit 5.   Not applicable.
Exhibit 6.   The consent of the trustee required by Section 321(b) of the Act.


Exhibit 7.   A copy of the latest report of condition of the trustee published pursuant to law or the requirements of its supervising or examining authority.
Exhibit 8.   Not applicable.
Exhibit 9.   Not applicable.

 

* Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated December 30, 2005 of Hornbeck Offshore Services LLC file number 333-130784-06.
** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form T-3 dated March 3, 2004 of Trans-Lux Corporation file number 022-28721.
*** Incorporated by reference to the exhibit of the same number to the trustee’s Form T-1 filed as exhibit 25 to the Form S-4 dated May 26, 2005 of Penn National Gaming Inc. file number 333-125274.


SIGNATURE

Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the trustee, Wells Fargo Bank, National Association, a national banking association organized and existing under the laws of the United States of America, has duly caused this statement of eligibility to be signed on its behalf by the undersigned, thereunto duly authorized, all in the City of Minneapolis and State of Minnesota on the 6th day of February 2008.

 

WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Jane Y. Schweiger

Jane Y. Schweiger

Vice President


EXHIBIT 6

2/6/2008

Securities and Exchange Commission

Washington, D.C. 20549

Gentlemen:

In accordance with Section 321(b) of the Trust Indenture Act of 1939, as amended, the undersigned hereby consents that reports of examination of the undersigned made by Federal, State, Territorial, or District authorities authorized to make such examination may be furnished by such authorities to the Securities and Exchange Commission upon its request therefor.

 

Very truly yours,
WELLS FARGO BANK, NATIONAL ASSOCIATION

/s/ Jane Y. Schweiger

Jane Y. Schweiger

Vice President


Consolidated Report of Condition of

Wells Fargo Bank National Association

of 101 North Phillips Avenue, Sioux Falls, SD 57104

And Foreign and Domestic Subsidiaries,

at the close of business September 30, 2007, filed in accordance with 12 U.S.C. §161 for National Banks.

 

          Dollar Amounts
In Millions

ASSETS

     

Cash and balances due from depository institutions:

     

Noninterest-bearing balances and currency and coin

      $ 12,302

Interest-bearing balances

        1,022

Securities:

     

Held-to-maturity securities

        0

Available-for-sale securities

        48,254

Federal funds sold and securities purchased under agreements to resell:

     

Federal funds sold in domestic offices

        15,276

Securities purchased under agreements to resell

        1,881

Loans and lease financing receivables:

     

Loans and leases held for sale

        21,274

Loans and leases, net of unearned income

   277,174   

LESS: Allowance for loan and lease losses

   2,569   

Loans and leases, net of unearned income and allowance

        274,605

Trading Assets

        5,557

Premises and fixed assets (including capitalized leases)

        4,240

Other real estate owned

        861

Investments in unconsolidated subsidiaries and associated companies

        421

Intangible assets

     

Goodwill

        9,718

Other intangible assets

        19,391

Other assets

        30,644
         

Total assets

      $ 445,446
         

LIABILITIES

     

Deposits:

     

In domestic offices

      $ 269,857

Noninterest-bearing

   68,381   

Interest-bearing

   201,476   

In foreign offices, Edge and Agreement subsidiaries, and IBFs

        59,766

Noninterest-bearing

   11   

Interest-bearing

   59,755   

Federal funds purchased and securities sold under agreements to repurchase:

     

Federal funds purchased in domestic offices

        12,491

Securities sold under agreements to repurchase

        6,758


     Dollar Amounts
In Millions

Trading liabilities

     3,109

Other borrowed money (includes mortgage indebtedness and obligations under capitalized leases)

     26,482

Subordinated notes and debentures

     10,896

Other liabilities

     14,803
      

Total liabilities

   $ 404,162

Minority interest in consolidated subsidiaries

     57

EQUITY CAPITAL

  

Perpetual preferred stock and related surplus

     0

Common stock

     520

Surplus (exclude all surplus related to preferred stock)

     25,692

Retained earnings

     14,509

Accumulated other comprehensive income

     506

Other equity capital components

     0
      

Total equity capital

     41,227
      

Total liabilities, minority interest, and equity capital

   $ 445,446
      

I, Howard I. Atkins, EVP & CFO of the above-named bank do hereby declare that this Report of Condition has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true to the best of my knowledge and belief.

 

Howard I. Atkins
EVP & CFO

We, the undersigned directors, attest to the correctness of this Report of Condition and declare that it has been examined by us and to the best of our knowledge and belief has been prepared in conformance with the instructions issued by the appropriate Federal regulatory authority and is true and correct.

Michael Loughlin

John Stumpf                                                  Directors

Carrie Tolstedt