| NOTICE OF SUCCESSOR TRUSTEES' SALE|
NOTICE IS HEREBY GIVEN THAT:
By virtue of a Credit Line Deed of Trust and Security Agreement dated January 23, 2003, made and executed by RONALD J. McCOWAN, as Member and Manager of and on behalf of McMOO, LLC, to BB&T Collateral Service Corporation, a West Virginia corporation, as Trustee, for the benefit of Branch Banking and Trust Company, a North Carolina banking corporation, and recorded in office of the Clerk of the County Commission of Kanawha County, West Virginia, in Trust Deed Book 2933, at page 830, which Credit Line Deed of Trust and Security Agreement was assigned by the aforesaid Branch Banking and Trust Company to SUMMITBRIDGE NATIONAL INVESTMENTS III LLC, by assignment effective as of August 19, 2014, and of record in the aforesaid Clerk's office in Assignment Book 245, at page 248, default in the performance of the obligations thereby secured having occurred, and pursuant to the terms thereof and to the written request of the holder of the indebtedness thereby secured, and further pursuant to the authority granted to the undersigned by that certain Appointment of Successor Trustees dated December 9, 2014, and recorded in the aforesaid Clerk's office in Trust Deed Book 4077 at page 963, the undersigned Successor Trustees will sell at public auction to the highest bidder on Wednesday, April 8, 2015, at 11:00 a.m.
at the Virginia Street entrance to the Kanawha County Courthouse in Charleston, West Virginia, the following described real estate:
All that certain lot or parcel of land, together with the improvements thereon and the appurtenances thereunto belonging, situate on the north side of Quarrier Street in Charleston, West Virginia, and bounded and described as follows:
Beginning in the west line of said Dickinson Street at its intersection with Quarrier and binding thereon toward Hale Street 83 feet, more or less, to the middle of the foundation wall of the building constructed by the Dunbar Company for the Warwick, Barrett and Shipley Company, thence with the middle of said wall and including the east half thereof, 120 feet to the south line of a 15 foot alley extending from Hale to Dickinson Street; thence with said line of said alley binding thereon 83 feet, more or less, to the line of said Dickinson Street; thence with the same and binding thereon 120 feet, more or less, to the place of beginning.
And being the same property conveyed to McMoo, LLC, by M & R Group Real Estate and Development, LLC, by deed dated January 13, 2003, to be recorded in the Office of the Clerk of the County Commission of Kanawha County, West Virginia, simultaneously with this deed of trust; and further being the same property conveyed to M & R Group Real Estate and Development, LLC, by James H. Walker, M.D. and Helen L. Walker, by deed dated August 22, 1997, of record in the aforesaid Clerk's Office in Deed Book 2420, at Page 40. Reference to the aforesaid deeds is hereby made for all pertinent purposes.
For purposes of West Virginia Code §38-1-4, any notice of Trustee's Sale shall be mailed to the Grantor(s) at the following address (or such other address subsequently given in writing to lender by grantor[s]):
11 Carriage Road
Charleston, WV 25314
The sale shall be made subject to any and all easements, rights-of-way, exceptions, reservations, restrictions, covenants, conditions, leases, liens or encumbrances affecting title to the property and further to any state of facts that would be disclosed by or apparent upon an inspection or an accurate survey of the property described above; provided, however, that any such restriction, covenant or condition indicating a preference, limitation or discrimination based on race, color, religion, sex, marital status, ancestry, disability, handicap, familial status or national origin is hereby deleted to the extent such restriction, covenant or condition violates 42 U.S.C. § 3604(c). The sale shall further be made subject to accrued and unpaid ad valorem real property taxes upon the property. The Trustees make no representations or warranties as to the validity or priority of such liens, taxes, encumbrances and other matters, if any.
TERMS OF SALE:
1.Cash in hand on the day of sale. The successful bidder shall tender ten percent (10%) of the total purchase price to the Successor Trustees by certified or cashiers' check or electronic fund transfer payable to the Successor Trustees on or before 5:00 p.m. EDT on Wednesday, April 8, 2015, the date of sale. The remaining balance of the total purchase price must be paid to the Successor Trustees by certified or cashiers' check or electronic fund transfer no later than thirty (30) days after the date of sale.
2.Upon conclusion of the sale, a Memorandum of Sale will be executed reflecting the sale of the property and the purchase price. Time is of the essence. If the purchaser fails to deliver the purchase price within the prescribed time, at the Successor Trustees' sole discretion, the Successor Trustees will either: (a) file suit to enforce specific performance; (b) convey the property to the next highest bidder if such bidder will honor his, her or its bid; or, (c) proceed to resell the property pursuant to the aforesaid Credit Line Deed of Trust and Security Agreement.
3.The beneficiary of the aforesaid Credit Line Deed of Trust and Security Agreement and the holder of the note thereby secured reserves the right to submit a bid for the property at the sale, which bid may be in the form of a credit bid.
4.The property may be sold either as a whole or in parcels in the Successor Trustees' sole discretion.
5.The Successor Trustees reserve the right to accept or reject any bids.
6.The property will be sold subject to any and all assessments and taxes against said property, and all prior liens and encumbrances of any nature whatsoever, including the Internal Revenue Service's right of redemption, if any.
7.The purchaser shall be responsible for the payment of the transfer taxes imposed by West Virginia Code § 11-22-2.
8.The subject property will be sold in "AS IS" condition. The Successor Trustees make no representations or warranties of any kind or character including, but not limited to, the condition of the real estate or the title to the real estate to be conveyed.
9.The Successor Trustees will deliver a trustees' deed to the purchaser without any covenant or warranty (express or implied) in the form prescribed by West Virginia Code § 38-1-6 upon receipt of the purchase price in good and available funds. If the Successor Trustees fail, refuse or for any reason are unable to convey title to the property or suit is filed challenging the sale, the Successor Trustees reserve the right to set aside the sale and void the Memorandum of Sale. In such event, the purchaser's sole remedy at law and in equity is limited to the return of the amount actually paid by purchaser and the sale shall be null and void and of no further effect.
10.The Successor Trustees shall be under no duty to cause any existing tenant or person occupying the subject property to vacate said property. Prospective purchasers are hereby advised that the rights of any existing tenants or persons occupying the subject property may be covered by the Protecting Tenants at Foreclosure Act of 2009.
11.To the extent permitted under applicable law, any belongings remaining at the subject property after the sale will be deemed to constitute ABANDONED PROPERTY AND WILL BE DISPOSED OF ACCORDINGLY.
12.The Successor Trustees reserve the right to adjourn the sale, for a time, or from time to time, without further notice, by announcement made at the time and place of the sale described above.
13.Announcements made on the day of sale take precedence over these Terms of Sale.
Given under my hand this 4th day of March 2015.
DAVID A. BOSAK
Spilman Thomas & Battle, PLLC
P. O. Box 273
Charleston, West Virginia 25301
W. ERIC GADD
Spilman Thomas & Battle, PLLC
P. O. Box 831
Wheeling, West Virginia 26003