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Coweta County

NOTICE OF SALE UNDER POWER STATE OF GEORGIA COUNTY OF COWETA
Jan 09, 2013 | 105 views | email to a friend | print

NOTICE OF SALE UNDER POWER STATE OF GEORGIA COUNTY OF COWETA Under and by virtue of the power of sale contained in that certain Deed to Secure Debt and Security Agreement executed by LICHTY BROS. CONSTRUCTION, INC. (the "Grantor"), in favor of BRANCH BANKING AND TRUST COMPANY ("Lender"), recorded on March 30, 2006, at Deed Book 2937, Page 651, et seq., Coweta County Records (as at any time amended, modified, or restated, the "Security Deed"), to secure the indebtedness evidenced by that certain Promissory Note dated March 28, 2006, in the original principal amount of $317,700 (as at any time amended, modified or restated, the "Note"), made by Grantor in favor of Lender; Lender, as attorney-in-fact for Grantor, will sell at public outcry to the highest bidder for cash on the courthouse steps of Coweta County, Georgia, within the legal hours of sale on the first Tuesday in February of 2013 (to-wit: February 5, 2013), all of Grantor's right, title and interest in and to the following described property (hereinafter collectively referred to as the "Property"): All that certain tract or parcel of land being more particularly described on Exhibit A attached hereto and incorporated by reference (collectively, the "Land"); All buildings, structures and other improvements of every kind and nature whatsoever now or hereafter situated on the Land; and all machinery, equipment, fixtures, appliances and building, construction, development and landscaping supplies and materials now or hereafter placed on or in the Land; All and singular the easements, rights-of-way, strips and gores of land, streets, ways, alleys, passages, sewer rights, waters, water courses, water rights and powers, estates, rights, titles, interests, minerals, royalties, privileges, liberties, tenements, hereditaments and appurtenances whatsoever, in any way now or hereafter belonging, relating or appertaining to the Land or the improvements now or hereafter located thereon, or any part thereof, and the reversion or reversions, remainder and remainders, rents, issues and profits thereof; and all right to receive excess payments in any tax sale of the Land and the improvements now or hereafter located thereon, or any part thereof; and all the estate, right, title, interest, claim and demand whatsoever of Grantor of, in and to the same; Any and all rents which are now due or may become due by reason of the renting, leasing and bailment of the Land or the improvements now or hereafter located thereon, or any part thereof; and Any and all awards or payments, including interest thereon, and the right to receive the same, as a result of (i) the exercise of the right of eminent domain, (ii) the alteration of the grade of any street, or (iii) any other injury to the taking of, or decrease in the value of, the Land or improvements now or hereafter located thereon. Lender may sell that portion of the Property as under the laws of the State of Georgia may constitute an estate or interest in real estate (the "Real Property") either separately from that portion of the Property which, under the laws of the State of Georgia, may constitute personalty and not an interest in real estate (the "Personal Property"), in which case separate bids will be taken therefor, or collectively in a single sale and lot and in a single bid. Lender may elect not to sell the Personal Property at the same time as the remainder of the Property. Notice of intent to sell separately or in a single lot and notice of Lender's election with respect to sale of the Personal Property will be announced at the sale. With regard to the sale of either the Real Property or the Personal Property, or both, Lender reserves the right to credit bid at the sale all or any portion of its debt. To the best knowledge and belief of the undersigned, the Property is in the possession of Grantor, or others with the permission of Grantor. The Property will be sold on an "AS IS, WHERE IS" basis, without recourse against Lender and without representation or warranty of any kind or nature whatsoever with respect thereto, with no assurance afforded as to the exact acreage contained in the Real Property description and subject to, among other exceptions, all of the following: All outstanding taxes (including taxes which are liens, but not yet payable), assessments and utility bills which are valid liens and encumbrances upon any of the Property and which are prior in right to the Security Deed; All valid zoning ordinances; All valid federal tax liens (if any) affecting any of the Property and the rights of the United States Government relative thereto, including, but not limited to, the right of redemption of the United States Government, if any such rights validly exist; and Any and all easements, limitations, restrictions, reservations, covenants, encumbrances, and other matters to which the Security Deed is subordinate in terms of priority as a matter of law. The indebtedness evidenced by the Note and secured by the Security Deed has matured by its terms immediately due and payable in full because of defaults by Grantor under the Note, including, but not limited to, defaults resulting from the failure to pay the indebtedness as and when due in accordance with the Note. The proceeds of the sale of the Property shall be applied in accordance with the Security Deed to the payment of the unpaid indebtedness under the Note and all fees, costs, charges, and expenses of the sale and of all proceedings in connection therewith, including, without limitation, attorneys' fees incurred by Lender. BRANCH BANKING AND TRUST COMPANY ("Lender"), as attorney-in-fact for LICHTY BROS. CONSTRUCTION, INC. ("Grantor") PARKER HUDSON RAINER & DOBBS LLP Attorneys for Lender Joshua J. Lewis, Esq. 1500 Marquis Two Tower 285 Peachtree Center Avenue, NE Atlanta, Georgia 30303 (404) 523-5300 EXHIBIT A AREA 3 ALL THAT TRACT OR PARCEL OF LAND lying in or being in Land Lot 20, 5th District, Coweta County, Georgia and being more particularly described as follows: Commencing at the intersection of the southeasterly right-of-way of Lower Fayetteville Road (80' ROW) and the southwesterly right-of-way of Summerlin Boulevard (variable ROW); thence S18 10'02"E, a distance of 1,290.07 feet to the TRUE POINT OF BEGINNING; thence N89 40'00"E, a distance of 100.14 feet to the point of curve of a non tangent curve to the left, said curve having a radius of 520.00 feet, a chord bearing of S07 49'29"E, and a chord distance of 194.85 feet; thence southerly along the arc a distance of 196.01 feet to a point of compound curve to the left, said curve having a radius of 80.00 feet, a chord bearing of N89 40'00"E, and a chord distance of 151.92 feet; thence easterly along the arc, a distance of 200.25 feet to a point of compound curve to the left, said curve having a radius of 520.00 feet, a chord bearing of N10 26'03"E, and a chord distance of 136.15 feet; thence northerly along the arc, a distance of 136.54 feet to the point of curve of a non tangent curve to the right, said curve having a radius of 10.67 feet, a chord bearing of N46 17'21"E, and a chord distance of 13.74 feet; thence northeasterly along the arc a distance of 14.92 feet; thence N89 40'00"E, a distance of 66.62 feet; thence S00 20'00"E, a distance of 329.08 feet; thence S89 13'01"W, a distance of 380.24 feet; thence N00 20'00"W, a distance of 352.07 feet to a point of curve to the right, said curve having a radius of 620.00 feet, a chord bearing of N01 03'12"E, and a chord distance of 30.01 feet; thence northerly along the arc a distance of 30.01 feet to the POINT OF BEGINNING. Together with and subject to covenants, easements, and restrictions of record, and together with a non-exclusive easement for access, ingress and egress over, across and through that certain private road shown as "Harrison Drive" on the survey recorded at Deed Book 2937, Page 661, Coweta County Records. Containing 98,121 square feet or 2.253 acres, more or less. Less and Except the following: Lot 101 of Summerlin, Phase I conveyed by Limited Warranty Deed recorded in Deed Book 3235, Page 306, aforesaid records; Lot 102 of Summerlin, Phase I conveyed by Limited Warranty Deed recorded in Deed Book 3235, Page 303, aforesaid records; Lot 103 of Summerlin, Phase I conveyed by Limited Warranty Deed recorded in Deed Book 3235, Page 286, aforesaid records; Lot 104 of Summerlin, Phase I conveyed by Warranty Deed recorded in Deed Book 3268, Page 246, aforesaid records; Lot 105 of Summerlin, Phase I conveyed by Limited Warranty Deed recorded in Deed Book 3235, Page 295, aforesaid records; Lot 106 of Summerlin, Phase I conveyed by Quitclaim Deed recorded in Deed Book 3398, Page 72, aforesaid records. No. 55865-1-10-17-24-31