NOTICE OF FORECLOSURE SALE
WHEREAS, Richard Burleson (the “Grantor”), by that certain Deed of Trust dated as of February 1, 2008 and recorded in Book T822, at page 558 in the Register’s Office for Carter County, Tennessee, as may have been modified and extended from time to time (the “Deed of Trust”), conveyed to Robert Williams, Trustee, certain real property situated in Carter County, Tennessee to secure the payment of certain indebtedness evidenced by a promissory note, all as more fully described in the Deed of Trust (the “Indebtedness”), which Indebtedness is presently held and owned by The First Bank and Trust Company (the “Lender”); and
WHEREAS, a default has occurred by the Grantor’s failure to comply with the terms and conditions of the Deed of Trust, and the Indebtedness has been declared due and payable as provided in the Deed of Trust, and the Indebtedness has not been paid; and
WHEREAS, the Lender, the lawful owner and holder of the Indebtedness, has demanded that the Property be advertised and sold in satisfaction of the Indebtedness and the costs of foreclosure in accordance with the terms of the Deed of Trust; and
WHEREAS, the undersigned, W. DEREK MALCOLM, a resident of Sullivan County, Tennessee, has been duly appointed as Substitute Trustee in the place and stead of Robert Williams, Trustee, said appointment being set forth in Book 188 at page 92 in the Register’s Office for Carter County, Tennessee.
NOW, THEREFORE, notice is hereby given that I, W. DEREK MALCOLM, Substitute Trustee, pursuant to the power, duty, and authority vested in and imposed upon me in the Deed of Trust, will on May 9, 2014 at 10:30 o’clock a.m., at the main entrance to the Carter County Courthouse, 801 E. Elk Avenue, Elizabethton, Tennessee 37643, offer for sale to the highest and best bidder for cash, and free from of all rights and equities of redemption, statutory and otherwise, homestead, dower, and all other rights or exemptions of every kind, all of which are expressly waived in said Deed of Trust, certain real property described as follows:
SITUATE, LYING and BEING in the 6th Civil District of Carter County, Tennessee, and being more particularly described as follows, to-wit:.
BEGINNING in the northeasterly right of way of Gap Creek Road; thence North 74 degrees 23 minutes 46 seconds West, 414.81 feet to an iron pin old; thence North 00 degrees 15 minutes 27 seconds West, 733.30 feet to a new iron pin; thence South 61 degrees 14 minutes 42 seconds West, 994.23 feet to an iron pin old; thence South 63 degrees 11 minutes 11 seconds West 127.50 feet to an old iron pin; thence South 60 degrees 07 minutes 38 seconds West, 145 feet to an old iron pin; thence South 47 degrees 26 minutes 54 seconds West, 126 feet to an old iron pin; thence South 41 degrees 59 minutes 06 seconds West, 204 feet to the point of Beginning, said tract containing 9.251 acres, more or less, by survey of Steven G. Pierce, Surveyor, RLS # 1564, dated August 24, 2001.
BEING part of the same property conveyed to Richard Burleson by a deed dated the 2nd day of October, 2001, from Zillah Taylor, Widow, by and through Bryan R. Burleson, attorney-in-fact for Zillah Taylor, said deed of record in the Register’s Office for Carter County, Tennessee at Elizabethton, in Book D465, Page 78, to which reference is here made.
Tax Map 57, Parcel 20.09
Property Address: Gap Creek Road
The sale shall be in bar of all rights and equities of redemption, statutory and otherwise, homestead, dower, and all other rights or exemptions of every kind, all of which are expressly waived in the Deed of Trust, but subject to the following: (a) unpaid taxes against the property; (b) recorded easements, restrictions, conditions, covenants, rights-of-way, or subdivision plats affecting the property; (c) dedications of roads affecting the property and applicable governmental zoning and subdivision ordinances and regulations, (d) prior or superior liens, judgments, deeds of trust, or other interests of record; and (e) matters that an accurate survey of the property might disclose.
The Substitute Trustee, at his sole discretion, at the time and place appointed above for the sale, to accomplish the most advantageous sale and consequent discharge of his trust obligation under the circumstances, reserves the right to do any or all of the following: (a) postpone the sale of all or any portion of the property by public announcement at such time and place of sale, and from time to time thereafter postpone such sale by public announcement at the time fixed by the preceding postponement or subsequently noticed sale, and, without further notice, make such sale at the time and place fixed by the last postponement, or in his discretion, give a new notice of sale; (b) appoint an agent to sell the property in accordance with the power of sale contained in the Deed of Trust and to take other action which the Substitute Trustee may take thereunder; (c) be represented at the sale by an attorney; (d) elect to delay the sale for a reasonable time during regular business hours on the same day to be continued at the same place at the announced time in order to enable any bona fide bidder to determine and submit a bid, so long as no potential purchaser is thereby precluded from placing a bid; and (e) elect to sell the property in any other manner or manners as may accomplish the most advantageous sale and consequent discharge of his trust obligation under the circumstances.
Notice has been given pursuant to 26 U.S.C. § 7425(c) and Reg. § 301.7425-1, and T.C.A. §§ 50-7-404(i)(2)(B) and 67-1-1433(b)(2) and Rule 1320-2-1-.35, if applicable. Notice has been given pursuant to T.C.A. § 35-5-117(i) if applicable. The following interests may be affected by this sale: (1) A judgment lien in favor of John Deere Landscapes dated April 27, 2011 and of record in the aforesaid Register’s Office in Book 107, at page 449; (2) A judgment lien in favor of Discover Bank, Issuer of Discover Card, dated January 25, 2012 and of record in the aforesaid Register’s Office in Book 119, at page 414; and (3) A judgment lien in favor of Mountain Empire Radiology dated January 16, 2013 and of record in the aforesaid Register’s Office in Book 155, at page 425.
The failure of the high bidder to close this sale shall be cause for rejection of the bid, and if the bid is rejected, the Substitute Trustee shall have the option of making the sale to the next highest bidder who is capable and willing to comply with the terms thereof. The proceeds of the sale will be applied as provided in the Deed of Trust.
The Property is to be sold AS IS WHERE IS, without representations or warranties of any kind whatsoever, whether express or implied. Without limiting the foregoing, THE PROPERTY IS TO BE SOLD WITHOUT ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR USE OR PURPOSE.
TERMS OF SALE: CASH or as otherwise provided by Beneficiary
This 7th day of April, 2014.
/s/ W. Derek Malcolm
W. DEREK MALCOLM, ESQ.
W. Derek Malcolm, Esq.
100 Fifth Street, Suite 520
Bristol, TN 37620
4/16, 4/23, 4/30