The Elberton Star & Examiner
Elbert County

ADVERTISEMENT OF SALE UNDER POWER OF SALE IN DEED TO SECURE DEBT STATE OF GEORGIA, COUNTY OF ELBERT
Dec 06, 2012 | 186 views | email to a friend | print

ADVERTISEMENT OF SALE UNDER POWER OF SALE IN DEED TO SECURE DEBT

STATE OF GEORGIA, COUNTY OF ELBERT

Under and by virtue of the powers contained in that certain Deed to Secure Debt, executed by Adam M. Lankford and Jennifer O. Lankford (collectively referred to as rantors to Pinnacle Bank ( rantee , dated March 30, 2009, which deed is recorded in Deed Book 483, at Pages 620-624, in the Office of the Clerk of the Superior Court of Elbert County, Georgia; as modified by that certain Modification of Deed to Secure Debt between Grantors and Grantee, dated March 4, 2010, recorded in Deed Book 500, at Pages 222-224, in said Clerk Office (collectively referred to as the ecurity Deed ; which Security Deed secures that certain Universal Note, dated March 4, 2010, executed by Grantors, payable to the order of Grantee, in the original principal amount of $227,410.35 (the ote , with interest from the date thereof at the rate specified in the Note, together with any other indebtedness owing by Grantors to Grantee, there will be sold at auction at public outcry to the highest bidder for cash at the appointed place for conducting public sales in Elbert County, Georgia (the front door of the Elbert County Courthouse), by the undersigned, acting as Attorney-in-Fact for Grantors, between the hours of 10:00 a.m. and 4:00 p.m. on the first Wednesday in January, 2013, to-wit: January 2, 2013, the following described land, buildings, improvements, fixtures, appurtenances, easements and rights (collectively, the roperty , to-wit:

All that tract or parcel of land situate, lying and being in the 189th G.M. District, Elbert County, Georgia, containing 1.000 acre, more or less, and being shown and delineated as Lot 3 of Fambrough Place on a plat of survey prepared by Stacy C. Carroll, Registered Land Surveyor, dated December 2, 1999, recorded in Plat Book 22 at page 20 in the Office of the Clerk of the Superior Court of Elbert County, Georgia.

Said property being bounded now or formerly as follows, as shown on said plat: On the North by Lot 4 of said plat; on the East by a 60 right-of-way for Fambrough Drive; on the South by Lot 2 of said plat; on the Southwest by property of Fred T. Smith; and on the Northwest by property of Edgar J. Andrews.

This being a portion of the same property described in a Warranty Deed from R. Otis Childs Jr. to J. Michael Rutherford, dated April 27, 1999, recorded on April 28, 1999, in Deed Book 258, at Pages 135-136, in the Office of the Clerk of the Superior Court of Elbert County, Georgia.

Default has occurred under the Security Deed and continues by reason of the non-payment, when due, of the indebtedness evidenced by the Note, in accordance with the terms thereof, and by reason of Grantors failure to perform other terms, covenants and conditions contained in the Security Deed. By reason of such defaults, the Grantee being the present holder of the Security Deed and of the Note and of all other obligations secured by the Security Deed, the debt secured by the Security Deed has been, and is hereby, declared due and the Security Deed has become, is, and is hereby declared to be, foreclosable in accordance with its terms. The debt and the Security Deed remaining in default, this sale will be made for the purpose of applying the proceeds thereof, as provided for in the Security Deed and pursuant to applicable law, first to payment of the indebtedness secured by the Security Deed, accrued interest thereon, late charges, expenses of the sale and all proceedings in connection therewith, including attorney fees (notice of intent to collect attorney fees having given pursuant to O.C.G.A. 13-1-11), and the remainder, if any, shall be paid to the Grantors or to the party or parties entitled thereto as provided by law.

Notice to Grantors, pursuant to O.C.G.A. 44-14-162.2, of the initiation of these proceedings to exercise the power of sale contained in the Security Deed was given by letter dated November 5, 2012.

The Property will be sold on an s is, where is basis without recourse against the undersigned and without representation or warranty of any kind or nature whatsoever with respect thereto, with no assurance afforded as to the exact acreage of the Property. The Property will be sold as the property of the Grantors, subject to the following: (i) all unpaid taxes and assessments, if any, including, but not limited to, unpaid real property taxes and assessments for 2012 and subsequent years; (ii) such matters as would be revealed by an accurate survey and inspection of the Property; (iii) rights of tenants, if any, in possession of the Property or any portion thereof; (iv) all valid zoning ordinances; (v) all other deeds to secure debt, liens and other encumbrances, if any, to which the Security Deed is inferior in terms of priority; and (vi) all other restrictions, limitations, reservations, covenants, easements, rights-of-way, and other matters, if any, of record to which the Security Deed is inferior in terms of priority.

Said power will be exercised, and said land will be sold as the property of Grantors, by the undersigned as Attorney-in-Fact for Grantors. To the best of the knowledge and belief of Grantee, the Property is presently owned by Grantors, and is in the possession of Grantors.

This 7th day of November, 2012.

PINNACLE BANK, Attorney-in-Fact for Adam M. Lankford and Jennifer O. Lankford

ROBERT F. LEVERETT, LLC

25 Thomas Street, P. O. Drawer 399, Elberton, Georgia 30635-0399

TEL: 706-283-2651, FAX: 706-283-2670

The Law Firm is attempting to collect the debt described in this advertisement, and any information obtained will be used for that purpose.