NOTICE OF SALE UNDER

POWER IN SECURITY DEED

Our File No. 12-602 G E O R G I A, RABUN COUNTY

Under and by virtue of the power of sale contained in a Deed to Secure Debt given by William J. Armstrong to STEPHENS FEDERAL BANK dated November 16, 2007, and recorded in Deed Book Y-32, Pages 136-152, Rabun County, Georgia Public Records, and an Assignment to Secure Debt dated November 16, 2007, and recorded in Deed Book Y-32, page 153, Rabun County, Georgia Public Records, and a Renewal Loan Agreement dated September 21, 2009 and recorded in Deed Book M35, pages 622-624, Rabun County, Georgia Records, conveying the after described property to secure a note dated November 16, 2007, modified on September 21, 2009 and modified on January 24, 2012 in the original principal amount of TWO MILLION SIX HUNDRED FIFTEEN AND 00/100 DOLLARS ($2,615,000.00), with interest thereon as set forth therein, there will be sold by the undersigned at public outcry to the highest bidder, for cash, before the courthouse door of Rabun County, Georgia, within the legal hours of sale on the first Tuesday in November, 2012, the same being November 6, 2012, the following described property. All of the Grantor's leasehold interest in all the Grantor's improvements located in all that tract or parcel of land lying and being in Land Lot 95 of the Fifth Land District of Rabun County, Georgia, and being Georgia Power Company Lease Lot 383 in Area 17 of Lake Burton Recreational Development, consisting of 2.47 acres being more fully described upon a plat of survey prepared by T. Lamar Edwards, Georgia Registered Land Surveyor, No. 1837, dated August 12, 1997, and recorded in the office of the clerk of Rabun Superior Court in Plat Book 39, page 230. Said survey is incorporated herein by reference for a full and complete description of the property. There is also conveyed herewith all improvements, buildings and structures located on the above-described Georgia Power Lease Lot. There is also conveyed herewith those certain easements which are more fully described in that certain lease agreement between Georgia Power Company and William J. Armstrong dated September 3, 1997. The debt secured by said deed to secure debt has been and is hereby declared due because of, among other possible events of default, the failure to pay the indebtedness as and when due and in the manner provided in the Note and Deed to Secure Debt. 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 Deed to Secure Debt and by law, including attorney s fees (notice of intent to collect attorney s fees having been given). Said property will be sold subject to any outstanding ad valorem taxes (including taxes which are a lien, but not yet due and payable), any matters which may be disclosed by a current accurate survey and inspection of the property, any easements, assessments, liens, encumbrances, zoning ordinances, restrictions, covenants, and matters of record superior to the Deed to Secure Debt first set out above. The entity that has full authority to negotiate, amend and modify all terms of the Deed to Secure Debt with the Debtor is: STEPHENS FEDERAL BANK located at 221 Hwy 76 E, Clayton, Georgia 30525, 706-782-3738. The secured Creditor is not required by law to negotiate, amend or modify the terms of the Deed to Secure Debt. To the best knowledge and belief of the undersigned the parties in possession of the property are William J. Armstrong and/or any tenant or tenants in possession and said property is located on 70 Alachee Lane, Tiger, GA 30576 and being Rabun County Tax Parcel # LB14 115L. The sale will be conducted subject to: (1.) confirmation that the sale is not prohibited under the U. S. Bankruptcy Code; and (2.) final confirmation and audit of the status of the loan with the holder of the Deed to Secure Debt. This 28th day of September, 2012. STEPHENS FEDERAL BANK, as Attorney in Fact for William J. Armstrong under Power of Sale contained in Security Deed recorded in Deed Book Y-32, page(s) 136-152, Rabun County, Georgia Records. J. DAVID SMITH, LLC, Attorney for STEPHENS FEDERAL BANK, 17 Chechero Street, Clayton, GA 30525 (706) 782-4285. THIS LAW FIRM IS ACTING AS A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.

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