Details for NOTICE OF SALE UNDER POWER STATE OF GEORGIA COUNTY OF HENRY

Updated

NOTICE OF SALE UNDER POWER STATE OF GEORGIA COUNTY OF HENRY By virtue of Power of Sale contained in the Deed to Secure Debt, Assignment of Leases and Rents, Security Agreement and Fixture Filing from Lake Vista, LLC, a Delaware limited liability company (“Grantor”), to NCN Lending, LLC, a Missouri limited liability company (“Holder”), dated as of November 21, 2019, recorded at Deed Book 16844, Page 210, in the records of the Clerk of Superior Court of Henry County, Georgia (the deed to secure debt, as same may from time to time have been amended and restated, replaced, substituted or modified, being hereinafter referred to as the “Security Deed”), said Security Deed being given to secure that certain Promissory Note dated as of November 21, 2019, made by Grantor payable to the order of Holder in the original stated principal amount of up to Two Million Three Hundred Seventy-Five Thousand and 00/100 Dollars ($2,375,000.00) with interest from the date thereof at the rate specified therein (the Promissory Note, as same may from time to time have been consolidated, amended and restated, replaced, renewed, substituted or modified, being hereinafter referred to as the “Note”) together with all other indebtedness owed by Grantor to Holder, there will be sold by the undersigned at public outcry to the highest bidder for cash before the Courthouse door at Henry County, Georgia, within the legal hours of sale on the first Tuesday in March, 2021, the following property, rights, interest and estates of Grantor (collectively, the “Property”): (a) The real property described below, together with all easements and rights affording access to it (collectively, the “Land”): All that tract or parcel of land, lying and being located in Land Lot 1 and Land Lot 2 of the 7th Land District, Henry County, Georgia, being more particularly described as follows: Beginning at a 1/2" re-bar found where the North East Mitered right-of-way of Georgia State Route 42 (also known as U.S. Highway No. 23) intersects the South East 80 ft. Right-of-Way of Brannan Road aforementioned 1/2" re-bar having the following Georgia State Plane Coordinate values, (Georgia West Zone), North- 1277413.9960 and East 2289957.1061, being the True Point of Beginning, Thence along the South-East 80 ft. Right-of-Way of Brannan Road, North 44 degrees 37 minutes 29 seconds East for a distance of 485.00 feet to a calculated point; Thence leaving the South-East 80 ft. Right-of-Way of Brannan Road, South 45 degrees 22 minutes 31 seconds East for a distance of 300.00 feet to a calculated point; Thence South 55 degrees 49 minutes 48 seconds East for a distance of 312.27 feet to a calculated point, 30 ft. North West of the centerline of S proposed private drive; Thence South 21 degrees 48 minutes 44 seconds West for a distance of 469.27 feet to a calculated point, 30 ft. North West of the centerline of S proposed private drive; Thence North 68 degrees 11 minutes 16 seconds West for a distance of 249.37 feet to a calculated point; Thence South 63 degrees 24 minutes 47 seconds West for a distance of 300.00 feet to a calculated point on the North East 80 ft. Right-of-Way of Georgia State Route No. 42; Thence continuing along the North East 80 ft. Right-of-Way of Georgia State Route No. 42 and along a curve to the left having a radius of 5201.00 feet and an arc length of 205.41 feet, being subtended by a chord of North 19 degrees 40 minutes 41 seconds West for a distance of 205.40 feet to the calculated point of Tangency on the 80 ft. Right-of-Way of Georgia State Route No. 42; Thence continuing along East 80 ft. Right-of-Way of Georgia State Route No. 42, North 24 degrees 06 minutes 47 seconds West for a distance of 216.31 feet to the base of a 1/2" re-bar found at the beginning of a mitered Right-of-Way; Thence along the Right-of-Way Miter, North 08 degrees 32 minutes 20 seconds East for a distance of 128.81 feet to a 1/2" re-bar found, The True Point of Beginning. Said property contains 10.000 acres. (b) All buildings, structures, and improvements located on the Land (the “Improvements”); (c) All appurtenances, privileges, easements, franchises, and tenements of the Land, including all minerals, oil, gas, other hydrocarbons and associated substances, sulphur, nitrogen, carbon dioxide, helium and other commercially valuable substances that may be in, under, or produced from any part of the Land, all development rights and credits, air rights, water, water rights and water stock, and any premises lying in the streets, roads, or avenues, open or proposed, in front of or adjoining the Land and Improvements; (d) All leases, subleases, subtenancies, licenses, occupancy agreements and concessions relating to the use and enjoyment of all or any part of the Land and Improvements, and all guaranties and other agreements relating to or made in connection with any of such leases (“Leases”) and all right, title and interest of Grantor, its successors and assigns therein and thereunder, including cash or securities deposited thereunder to secure the performance by the lessees of their obligations thereunder and all rents, additional rents, revenues, issues and profits (including all oil and gas or other mineral royalties and bonuses) from the Land and the Improvements whether paid or accruing before or after the filing by or against Grantor of any petition for relief under the Bankruptcy Code (collectively, the “Rents”) and all proceeds from the sale or other disposition of the Leases and the right to receive and apply the Rents to the payment and performance of the secured obligations as that term is defined in the Security Deed; (e) All equipment (as defined in the UCC), owned by Grantor, that is used at or in connection with the Improvements or the Land or is located thereon or therein, together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto (collectively, the “Equipment”); (f) All Equipment owned by Grantor, that is so related to the Land and Improvements forming part of the Property that it is deemed fixtures or real property under the law of the particular state in which the Equipment is located, including all building or construction materials intended for construction, reconstruction, alteration or repair of or installation on the Property, construction equipment, appliances, machinery, plant equipment, fittings, apparatuses, fixtures and other items attached to, installed in or used in connection with (temporarily or permanently) any of the Improvements or the Land, including engines, devices for the operation of pumps, pipes, plumbing, cleaning, call and sprinkler systems, fire extinguishing apparatuses and equipment, heating, ventilating, plumbing, laundry, incinerating, electrical, air conditioning and air cooling equipment and systems, gas and electric machinery, appurtenances and equipment, pollution control equipment, security systems, disposals, dishwashers, refrigerators and ranges, recreational equipment and facilities of all kinds, and water, gas, electrical, storm and sanitary sewer facilities, utility lines and equipment (whether owned individually or jointly with others, and, if owned jointly, to the extent of Grantor's interest therein) and all other utilities whether or not situated in easements, all water tanks, water supply, water power sites, fuel stations, fuel tanks, fuel supply, and all other structures, together with all accessions, appurtenances, additions, replacements, betterments and substitutions for any of the foregoing and the proceeds thereof (collectively, the “Fixtures”); (g) All awards or payments, including interest thereon, that may be made with respect to the Property, whether from the exercise of the right of eminent domain (including any transfer made in lieu of or in anticipation of the exercise of such right), or for a change of grade, or for any other injury to or decrease in the value of the Property; (h) All proceeds in respect of the Property under any insurance policies covering the Property, including the right to receive and apply the proceeds of any insurance, judgments, or settlements made in lieu thereof, for damage to the Property; (i) All refunds, rebates or credits in connection with any reduction in real estate taxes and assessments charged against the Property as a result of tax certiorari proceedings or any other applications or proceedings for reduction of same, in each case, irrespective of the time period to which they relate; (j) The right, in the name and on behalf of Grantor, to appear in and defend any action or proceeding brought with respect to the Property and to commence any action or proceeding to protect the interest of Holder in the Property; (k) All agreements, contracts, certificates, instruments, franchises, permits, licenses, plans, specifications and other documents, entered into, and all rights therein and thereto, respecting or pertaining to the use, occupation, construction, management or operation of the Land and any part thereof and any Improvements or respecting any business or activity conducted on the Land and any part thereof and all right, title and interest of Grantor therein and thereunder, including the right to receive and collect any sums payable to Grantor under the Security Deed; (l) All tradenames, trademarks, servicemarks, logos, copyrights, goodwill, books and records and all other general intangibles relating to or used in connection with the operation of the Property; (m) All reserves, escrows and deposit accounts maintained by Grantor with respect to the Property, including all accounts established or maintained pursuant to any Loan Document (as defined in the Security Deed), together with all deposits or wire transfers made to such accounts, and all cash, checks, drafts, certificates, securities, investment property, financial assets, instruments and other property held therein from time to time, and all proceeds, products, distributions, dividends and/or substitutions thereon and thereof; (n) All goods (including inventory), general intangibles, contract rights, accounts, documents, instruments, and chattel paper, as the foregoing terms are defined in the UCC, relating to the Property; (o) All proceeds of any of the foregoing, including proceeds of insurance and condemnation awards, whether in cash, or in liquidation or other claims or otherwise; and (p) Any and all other rights of Grantor in and to the items set forth above. The indebtedness secured by the Security Deed has matured and is due and payable in full. The indebtedness remaining unpaid, 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. To the best of Holder's knowledge, Grantor is in possession of the Property. Said Property will be sold as the property of Grantor subject to (a) all unpaid real estate ad valorem taxes and governmental assessments, (b) all prior restrictions, rights-of-way, and easements of record, if any, appearing of record prior to the date of the Security Deed, (c) those restrictions, rights-of-way and easements appearing after the date of the Security Deed and consented to in writing by Holder, if any, and (d) that certain Easement Agreement by and between Grantor and Eagle's Landing First Baptist Church, Inc. dated August 26, 2020 and recorded in Deed Book 17478, Page 278-285 of the records of the Clerk of Superior Court of Henry County, Georgia. The entity that has full authority to negotiate, amend, and modify all the terms of the mortgage with Grantor is: NCN Lending, LLC, 25587 Conifer Road, Suite 105-615, Conifer, CO 80433, Attention: Thomas J. Conwell; (816) 309-3963. Please understand that the secured creditor is not required by law to negotiate, amend or modify the terms of the mortgage instrument. NCN LENDING, LLC, A MISSOURI LIMITED LIABILITY COMPANY, AS ATTORNEY-IN-FACT FOR LAKE VISTA, LLC, A DELAWARE LIMITED LIABILITY COMPANY Johnny D. Latzak, Jr., Esq. Bryan Cave Leighton Paisner LLP One Atlantic Center Fourteenth Floor 1201 West Peachtree S treet, NW Atlanta, Georgia 30309 (404) 572-6600 25808-2/3,10,17,24,2021

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