The Dahlonega Nugget
Lumpkin County

NOTICE OF SALE UNDER POWER
Feb 26, 2013 | 120 views | email to a friend | print

NOTICE OF SALE UNDER POWER

County of Lumpkin, State of Georgia

Under and by virtue of the Power of Sale contained in that certain Deed to Secure Debt from Knight Brothers Limited a/k/a Knight Brothers, Ltd. ( Grantor ) to Georgia Commerce Bank, as successor in interest to Patriot Bank of Georgia, by virtue of Assignment from the FDIC, as Receiver for Patriot Bank of Georgia ( Grantee ) dated May 15, 2008, filed May 22, 2008, recorded in Deed Book 1095, Page 351, Lumpkin County, Georgia Records, as modified by that certain Modification of Deed to Secure Debt dated March 25, 2009, filed March 30, 2009, recorded in Deed Book 1125, Page 635, aforesaid records, and having that certain Assignment of Leases and Rents dated March 25, 2009, filed March 30, 2009, recorded in Deed Book 1125, Page 637, aforesaid records (as modified, the Security Deed ), conveying the after-described property to secure that certain Commercial Debt Modification Agreement dated August 12, 2011, from Grantor payable to Grantee in the original principal amount of One Hundred Thirteen Thousand Eight Hundred Seventy-Three and 73/100 Dollars ($113,873.73), with interest thereon as set forth therein (as modified, the Note ), there will be sold at public outcry to the highest bidder for cash before the courthouse door of Lumpkin County, Georgia, within the legal hours of sale on the first Tuesday in March, 2013fillin \d , the following described property:

All that tract or parcel of land lying and being in Land Lot 99 of the 11th District of Lumpkin County, Georgia, designated as Lot 34 of Southampton, Unit 1, Phase 3, as shown on plat prepared by Moreland, Altobelli Associates, Inc., recorded in Plat Book 1-109, Page 162, Lumpkin County, Georgia Records, said plat being incorporated herein by reference for a more complete description.

The property described above (the Real Property ) will be sold together with the following (all of such real property, fixtures and personal property hereinafter being collectively referred to as the Premises );

(a) 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 now or hereafter located on the Real Property or under or above the same or any part thereof, and all estates, rights, titles, interests, privileges, liberties, tenements, hereditaments and appurtenances, reversion and reversions, remainder and remainders, whatsoever, in any way belonging, relating or appertaining to the Real Property or any part thereof; or which hereinafter shall in any way belong, relate or be appurtenant thereto, whether now owned or hereafter acquired by Grantor;

(b) All of the Grantor s right, title and interest in and into all buildings, structures and improvements of every nature whatsoever now or hereafter situated on the Real Property, all fittings and fixtures, whether actually or constructively attached to the Real Property and including all attached machinery, equipment, apparatus, and all trade, domestic, and ornamental fixtures, appliances and articles of personal property of every kind and nature whatsoever, now or hereafter located in, upon, or under said property or any part thereof and used or usable in connection with any present or future operation of said property and now owned or hereafter acquired by Grantor or in which Grantor has interests (hereinafter collectively called Equipment ), including, but without limiting the generality of the foregoing, all heating, air conditioning, freezing, lighting, laundry, cooking, incinerating, and power equipment; engines; pipes; pumps; tanks; motors; conduits; switchboards, plumbing, lifting, cleaning, fire prevention, fire extinguishing, and any other safety equipment required by governmental regulation or law, refrigerating, ventilating, and communications apparatus; all gas and electric fixtures, radiators, heaters, boilers, ranges, plumbing and heating fixtures, furnaces, oil burners, or units thereof; appliances; vacuum cleaning systems; elevators; escalators; shades; awnings; screens; storm doors and windows; stoves; wall beds; refrigerators or refrigeration apparatus; dishwashers; attached cabinets; partitions; ducts and compressors; rugs and carpets; mirrors; mantles; draperies; carpeting and other floor coverings; furniture and furnishings; all building materials, supplies, and equipment, awning and storm sashes, which are or shall be attached to said buildings, structures or improvements and all other furnishings, furniture, fixtures, machinery, equipment, appliances, vehicles, inventory, accounts, automotive products of every kind and nature whatsoever now or hereafter 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, battlements, 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 furnishings, furniture, fixtures, machinery, equipment, appliances, inventory, accounts, instruments and chattel pa per, general intangibles, documents, farm products and supplies, investment property, deposits, vehicles and other property, existing or hereafter acquired by Grantor, subject to or covered by the Security Deed or any security agreement, conditional sales contract, chattel mortgage or similar lien or claim with the Grantee, and replacements, substitutions and proceeds of the property described hereinabove; and

(c) All income, rents, issues, and profits and revenues of the Premises from time to time accruing (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.

(d) All equipment and fixtures of the debtor used in or useful in the conduct of the debtor s operation of a business, now or hereafter acquired, and all accessories, parts and equipment now or hereafter affixed thereto or used in connection therewith.

The indebtedness secured by said Security Deed fillin \d has been and is hereby declared due and payable because of, among other possible events of default, failure to pay the indebtedness as and when due and in the manner provided in the Note. fillin \d The debt remaining in default, this sale will be made for the purpose of paying the same and all expenses of this sale, as provided in the Security Deed and by law, including attorney s fees (notice of intent to collect attorney s fees having been given as provided by law).

The property will be sold for cash or certified funds and subject to any and all matters of record superior to said Security Deedfillin \d , outstanding ad valorem taxes, any matters which might be disclosed by an accurate survey and inspection of the property, zoning ordinances, restrictions, covenants, and easements against the property, if any, and unpaid water and sewage bills that constitute liens against the property, whether due and payable or not yet due and payable. The sale will be conducted as set forth herein subject to (1) confirmation prior to the sale that the sale is not prohibited under the U.S. Bankruptcy Code and (2) final confirmation and audit prior to the sale of the status of the loan with the holder of the Security Deed.

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

The following information is being provided in accordance with O.C.G.A. 44-14-162.2. Georgia Commerce Bank is the secured creditor under the security deed or deed to secure debt and loan being foreclosed. The following entity shall have full authority to negotiate, amend, and modify all terms of the above-described Security Deed and associated Note on behalf of the secured creditor: Georgia Commerce Bank, Attn: Foreclosures, 2555 Peachtree Parkway, Cumming, GA 30041, (678) 631-3645. O.C.G.A. 44-14-162.2 states in pertinent part that, nothing in this subsection shall be construed to require a secured creditor to negotiate, amend, or modify the terms of a mortgage instrument.

To the best of the undersigned s knowledge and belief, the property is located at 60 Candover Court, Dahlonega, Lumpkin County, Georgia, 30533, and the party in possession of the property is Knight Brothers Limited a/k/a Knight Brothers, Ltd., or its tenant or tenants.

Georgia Commerce Bank, as successor in interest to Patriot Bank of Georgia, by virtue of Assignment from the FDIC, as Receiver for Patriot Bank of Georgia, as Attorney-in-Fact for Knight Brothers Limited a/k/a Knight Brothers, Ltd.

Thompson, O Brien, Kemp & Nasuti, P.C.

40 Technology Parkway South, Suite 300

Norcross, Georgia 30092

(770) 925-0111