The Dahlonega Nugget
Lumpkin County

NOTICE OF SALE UNDER POWER
Feb 26, 2013 | 119 views | email to a friend | print

NOTICE OF SALE UNDER POWER

County of Lumpkin, State of Georgia

By virtue of the power of sale contained in that certain Deed to Secure Debt and Security Agreement from JOSEPH H. HALL, JR. ( Grantor ), to COMMUNITY & SOUTHERN BANK, AS SUCCESSOR IN INTEREST TO aND assignee OF THE FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER FOR georgia trust bank ( Grantee ), dated November 19, 2006, recorded November 21, 2006, in Deed Book 1015, Page 157, Lumpkin County, Georgia records, as modified by that certain Modification of Deed to Secure Debt and Security Agreement between Grantor and Georgia Trust Bank recorded October 23, 2007, in Deed Book 1069, Page 115, aforesaid records; as modified by that certain Second Modification of Deed to Secure Debt and Security Agreement between Grantor and Georgia Trust Bank recorded January 18, 2008, in Deed Book 1079, Page 386, aforesaid records; as modified by that certain Third Modification of Deed to Secure Debt and Security Agreement between Grantor and Georgia Trust Bank recorded January 8, 2009, in Deed Book 1117, Page 219, aforesaid records; as modified by that certain Fourth Modification of Deed to Secure Debt and Security Agreement between Grantor and Georgia Trust Bank recorded February 8, 2010, in Deed Book 1152, Page 742, aforesaid records; as modified by that certain Fifth Modification of Deed to Secure Debt and Security Agreement between Grantor and Georgia Trust Bank recorded August 6, 2010, in Deed Book 1166, Page 195, aforesaid records; as subsequently assigned to Community & Southern Bank by Assignment of Security Instruments and Other Loan Documents recorded August 15, 2012, in Deed Book 1221, Page 597, aforesaid records (said Security Deed as may have been modified, amended and assigned from time to time, hereinafter referred to collectively as the Security Deed ), said Security Deed being given to secure the payment of two promissory notes dated November 19, 2006, made by Grantor to the order of Georgia Trust Bank, in the original principal amount of SIX HUNDRED FIFTY-TWO THOUSAND and 00/100 Dollars ($652,000.00) and FOUR HUNDRED THOUSAND AND 00/100 DOLLARS ($400,000.00), as renewed by two promissory notes dated July 14, 2010, as said principal amounts were modified to $577,991.86 and $350,126.88 (said promissory notes, as renewed, modified and assigned from time to time, hereinafter referred to collectively as the Note ), together with all other amounts payable by Grantor to Grantee, there will be sold by the undersigned at public outcry to the highest bidder for cash before the Courthouse door at Lumpkin County, Georgia, within the legal hours of sale on the first Tuesday of March, 2013, the following described land and interests in land, estates, easements, rights, improvements, personal property, fixtures, equipment, furniture, furnishings, appliances and appurtenances (hereinafter referred to collectively as the Premises ):

(a) All those certain tracts, pieces or parcels of land more particularly described in Exhibit A attached hereto and by this reference made a part hereof (hereinafter referred to as the Land ).

(b) All buildings, structures and improvements of every nature whatsoever situated on the Land, and all gas and electric fixtures, radiators, heaters, engines and machinery, boilers, ranges, elevators and motors, plumbing and heating fixtures, carpeting and other floor coverings, fire extinguishers and any other safety equipment required by governmental regulation or law, water heaters, mirrors, mantels, air conditioning apparatus, refrigerating plants, and appurtenances, window screens, awnings and storm sashes, which are attached to said buildings, structures or improvements and all other fixtures, building supplies and materials, books and records, and personal property of every kind and nature whatsoever owned by Grantor and located in, on or about, or used or intended to be used with or in connection with the use, operation or enjoyment of the Premises, including all extensions, additions, improvements, betterments, after-acquired property, renewals, replacements and substitutions, or proceeds from a permitted sale of any of the foregoing, and all the right, title and interest of Grantor in any such fixtures, and personal property subject to or covered by any prior security agreement, conditional sales contract, chattel mortgage or similar lien or claim, together with the benefit of any deposits or payments made by Grantor or on behalf of Grantor, and all fixtures, and general intangibles constituting proceeds acquired with cash proceeds of any of the property described hereinabove, all of which are deemed to be fixtures and accessions to the Land and a part of the Premises as between the parties hereto and all persons claiming by, through or under them, and which is deemed to be a portion of the security for the indebtedness described in and secured by the Security Deed. The location of the above-described collateral is also the location of the Land.

(c) All easements, rights-of-way, strips and gores of land, vaults, streets, ways, alleys, passages, sewer rights, waters, water courses, water rights and powers, minerals, flowers, shrubs, crops, trees, timber and other emblements located on the Land or under or above the same or any part or parcel thereof, and all estates, rights, titles, interests, privileges, liberties, tenements, hereditaments and appurtenances, reversion and reversions, remainder and remainders, whatsoever, in any way belong, relating or appertaining to the Premises or any part thereof owned by Grantor.

(d) All income, rents, issues, profits and revenues of the Premises (including without limitation all payments under leases or tenancies, proceeds of insurance, condemnation payments, tenant security deposits whether held by Grantor or in a trust account, and escrow funds), and all the estate, right, title, interest, property, possession, claim and demand whatsoever at law, as well as in equity, of Grantor of, in and to the same.

The indebtedness secured by the Security Deed has been and is hereby declared due because of default under the terms of said Note and Security Deed including, but not limited, to the failure to make payments thereunder when due. The indebtedness remaining in default, the sale will be made for the purpose of applying the proceeds thereof to the payment of the indebtedness secured by the Security Deed, accrued interest and expenses of the sale and all other payments provided for under the Security Deed, including attorneys fees as provided in the Note and Security Deed, notice of intention to collect attorneys fees having been given as provided by law, and the remainder, if any, shall be applied as provided by law.

Grantee reserves the right to sell the Premises in one parcel and as an entirety, or in such parcels as Grantee may elect, as permitted in the Security Deed.

To the best of Grantee s knowledge and belief, the parties in possession of the Property are Grantor and/or tenants of Grantor or other persons in possession with the consent or acquiescence of Grantor.

Said Premises will be sold as the property of Grantor subject to all unpaid real estate ad valorem taxes, governmental assessments and related liens and all prior restrictions, reservations, covenants, rightsofway, easements, encumbrances and other matters of record, if any, appearing of record prior to the date of the Security Deed and those appearing after the date of the Security Deed and consented to of record by Grantee.

COMMUNITY & SOUTHERN BANK, AS SUCCESSOR IN INTEREST TO AND ASSIGNEE OF THE FEDERAL DEPOSIT INSURANCE CORPORATION, AS RECEIVER FOR GEORGIA TRUST BANK, ATTORNEY-IN-FACT FOR JOSEPH H. HALL, JR.

Taylor English Duma LLP

1600 Parkwood Circle, Suite 400

Atlanta, Georgia 30339

Attn: Paul G. Durdaller, Esq.

(678) 336-7174

EXHIBIT A

Tract 1:

All that tract or parcel of land lying or being in Land Lot 217 and 218 of the 13th District and 1st Section of Lumpkin County, Georgia consisting of 1.23 acres, more or less, and being more particularly set out on a plat of survey dated October 1, 1991 and prepared for MBS Enterprises, Inc., by Michael L. Scupin, Georgia registered land surveyor. This plat is recorded in Plat Book 23, page 231, Lumpkin County, Records, and is by reference incorporated herein for a more detailed description.

Tract 2:

All that tract or parcel of land lying or being in Land Lot 218 of the 13th District and 1st Section of Lumpkin County, Georgia consisting of 1.21 acres, more or less, and being more particularly shown on plat of survey for Dynamic Designs, Inc., dated September 6, 1991, prepared by Michael L. Scupin, Georgia registered land surveyor. This plat is recorded in Plat Book 23, page 236, Lumpkin County, Records, and is by reference incorporated herein for a more detailed description.