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

Updated

NOTICE OF SALE

UNDER POWER

STATE OF GEORGIA

COUNTY OF CARROLL

Under and by virtue of the power of sale contained in the Deed to Secure Debt, Assignment of Leases and Rents, Security Agreement and Fixture Filing from SHEFA TEMPLE, LLC (Grantor) to and in favor of COREVEST AMERICAN FINANCE LENDER LLC (Grantee), dated June 29, 2018, recorded at Deed Book 5645, Page 620, Carroll County, Georgia records (hereinafter “Deed to Secure Debt”), Midland Loan Services, a PNC Real Estate Business—special servicer for Wilmington Trust NA as Trustee for CoreVest American Finance 2018-2, the assignee of interest in the Deed to Secure Debt, per the Assignment of Security Interest dated December 13, 2018, recorded at Deed Book 5683, Page 994—as attorney-in-fact for Grantor, will sell at public outcry to the highest bidder for cash according to the terms of the Deed to Secure Debt, between the legal hours of sale before the door of the courthouse in Carroll County, Georgia, on the first (1st) Tuesday in November 2020, the following described property (collectively, the “Property”), to wit:

All that tract or parcel of land lying and being in Land Lots 147 and 174 of the 6th District of Carroll County, Georgia, more particularly described as those tracts shown as LOTS 200, 201, 202, 203, 204, 205, 206, 207, 208, 209, 210, 211, 401, 403, 405, 407, 409, 411 and 413 on that certain plat prepared for “Bedrock Townhomes” dated August 5, 2005 certified by Ryan D. Woodcum, Georgia RLS #2675, and recorded in Plat Book 87, Page 208, and as revised in Plat Book 93, Page 263, in the Public Land Records of Carroll County, Georgia, which plats and the reference thereto are incorporated herein for a more full and complete description of such property. Such lots being individual Townhome Units located in the Bedrock Townhomes Development.

Also conveyed herein is a perpetual easement for the purposes of ingress and egress and for common area uses along the streets shown and delineated on the above-referenced plat, all utilities and utility easements of Bedrock Townhomes and all common areas, including, but not limited to, areas around the individual parcels and between the parcels and any streets or utilities.

(the “Land”); and

TOGETHER WITH all additional lands, estates and development rights hereafter acquired by Grantor for use in connection with the Land and the development of the Land and all additional lands and estates therein which may, from time to time, by supplemental deed to secure debt or otherwise be expressly made subject to the lien and security title of the Deed to Secure Debt; and

TOGETHER WITH the buildings, structures, fixtures, additions, enlargements, extensions, modifications, repairs, replacements and improvements now or hereafter erected or located on the Land (collectively, the “Improvements”); and

TOGETHER WITH all easements, rights-of-way or use, rights, strips and gores of land, streets, ways, alleys, passages, sewer rights, water, water courses, water rights and powers, air rights and development rights, and all estates, rights, titles, interests, privileges, liberties, servitudes, tenements, hereditaments and appurtenances of any nature whatsoever, in any way now or hereafter belonging, relating or pertaining to the Land and the Improvements and the reversion and reversions, remainder and remainders, and all land lying in the bed of any street, road or avenue, opened or proposed, in front of or adjoining the Land, to the center line thereof and all the estates, rights, titles, interests, dower and rights of dower, curtesy and rights of curtesy, property, possession, claim and demand whatsoever, both at law and in equity, of Grantor of, in and to the Land and the Improvements and every part and parcel thereof, with the appurtenances thereto; and

TOGETHER WITH all “equipment,” as such term is defined in Article 9 of the Uniform Commercial Code (as hereinafter defined), now owned or hereafter acquired by Grantor, which is used at or in connection with the Improvements or the Land or is located thereon or therein (including, but not limited to, all machinery, equipment, furnishings, and electronic data-processing and other office equipment now owned or hereafter acquired by Grantor and any and all additions, substitutions and replacements of any of the foregoing), together with all attachments, components, parts, equipment and accessories installed thereon or affixed thereto (collectively, the “Equipment”). Notwithstanding the foregoing, Equipment shall not include any property belonging to Tenants under Leases except to the extent that Grantor shall have any right or interest therein; and

TOGETHER WITH all Equipment now owned, or the ownership of which is hereafter acquired, by Grantor which 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, without limitation, 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 now or hereafter attached to, installed in or used in connection with (temporarily or permanently) any of the Improvements or the Land, including, but not limited to, engines, devices for the operation of pumps, pipes, plumbing, cleaning, call and sprinkler systems, fire extinguishing apparatuses and equipment, lighting, 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”). Notwithstanding the foregoing, “Fixtures” shall not include any property which Tenants are entitled to remove pursuant to Leases except to the extent that Grantor shall have any right or interest therein; and

TOGETHER WITH all furniture, furnishings, objects of art, machinery, goods, tools, equipment, supplies, appliances, general intangibles, contract rights, accounts, accounts receivable, franchises, licenses, certificates and permits, and all other personal property of any kind or character whatsoever (as defined in and subject to the provisions of the Uniform Commercial Code), other than Fixtures, which are now or hereafter owned by Grantor and which are located within or about the Land and the Improvements, together with all accessories, replacements and substitutions thereto or therefor and the proceeds thereof (collectively, the “Personal Property”), and the right, title and interest of Grantor in and to any of the Personal Property which may be subject to any security interests, as defined in the Uniform Commercial Code, as adopted and enacted by the state or states where any of the Property is located (as amended from time to time, the “Uniform Commercial Code”), superior in lien to the lien, security title and security interest of this Deed to Secure Debt, and all proceeds and products of any of the above; and

TOGETHER WITH (i) all leases, subleases or subsubleases, lettings, licenses, concessions or other agreements (whether written or oral) pursuant to which any Person is granted a possessory interest in, or right to use or occupy all or any portion of the Land and the Improvements, and every modification, amendment, extension, renewal, replacement, or other agreement relating to such leases, subleases, subsubleases, or other agreements entered into in connection with such leases, subleases, subsubleases, or other agreements and every guarantee of the performance and observance of the covenants, conditions and agreements to be performed and observed by the other party thereto, heretofore or hereafter entered into, whether before or after the filing by or against Grantor of any petition for relief under 11 U. S.C. §101 et seq., as the same may be amended from time to time (the “Bankruptcy Code”) (collectively, the “Leases”); (ii) all right, title and interest of Grantor, its successors and assigns, therein and thereunder, including, without limitation, 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”); (iii) 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 Obligations, including the payment of the Debt; (iv) all of Grantor's right, title and interest in, and claims under, any and all lease guaranties, letters of credit and any other credit support (individually, a “Lease Guaranty”, and collectively, the “Lease Guaranties”) given by any guarantor in connection with any of the Leases or leasing commissions (individually, a “Lease Guarantor”, and collectively, the “Lease Guarantors”) to Grantor; (v) all rights, powers, privileges, options and other benefits of Grantor as the lessor under any of the Leases and the beneficiary under any of the Lease Guaranties, including, without limitation, the immediate and continuing right to make claims for, and to receive, collect and acknowledge receipt for all Rents payable or receivable under the Leases and all sums payable under the Lease Guaranties or pursuant thereto (and to apply the same to the payment of the Debt or the Other Obligations), and to do all other things which Grantor or any lessor is or may become entitled to do under any of the Leases or Lease Guaranties; (vi) the right, subject to the provisions of the Loan Agreement, at Grantee's option, upon revocation of the license granted herein, to enter upon the Property in person, by agent or by court-appointed receiver, to collect the Rents; (vii) during the continuance of an Event of Default, Grantor's irrevocable power of attorney, coupled with an interest, to take any or all other actions designated by Grantee for the proper management and preservation of the Land and Improvements; and (viii) any and all other rights of Grantor in and to the items set forth in subsections (i) through (vii) above, and all amendments, modifications, replacements, renewals and substitutions thereof; and

TOGETHER WITH all awards or payments, including interest thereon, which may heretofore and hereafter be made with respect to the Property, whether from the exercise of the right of eminent domain (including, but not limited to, 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; and

TOGETHER WITH all proceeds in respect of the Property under any insurance policies covering the Property, including, without limitation, the right to receive and apply the proceeds of any insurance, judgments or settlements made in lieu thereof, for damage to the Property; and

TOGETHER WITH all refunds, rebates or credits in connection with any reduction in Taxes or Other Charges assessed against the Property as a result of tax certiorari proceedings or any other applications or proceedings for reduction; and

TOGETHER WITH 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 Grantee in the Property; and

TOGETHER WITH all agreements, contracts, certificates, instruments, franchises, management agreements, permits, licenses, plans, specifications and other documents, now or hereafter 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, without limitation, the right, upon the happening and during the continuance of any Event of Default, to receive and collect any sums payable to Grantor thereunder; and

TOGETHER WITH all tradenames, trademarks, servicemarks, logos, copyrights, goodwill, URLs or other online media, books and records and all other general intangibles relating to or used in connection with the operation of the Property; and

TOGETHER WITH all reserves, escrows and deposit accounts maintained by Grantor with respect to the Property, 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, excluding the following (the “Account Collateral”): all reserves, escrows and deposit accounts in which a security interest is granted to Grantee pursuant to the Loan Agreement and all amounts at any time contained therein and the proceeds thereof; and

TOGETHER WITH all documents, instruments, chattel paper and general intangibles, as the foregoing terms are defined in the Uniform Commercial Code, relating to the Property; and

TOGETHER WITH all minerals, crops, timber, trees, shrubs, flowers and landscaping features now or hereafter located on, under or above Land; and

TOGETHER WITH all other accounts, general intangibles, instruments, investment property, documents, chattel paper, goods, moneys, letters of credit, letter of credit rights, certificates of deposit, deposit accounts, escrow deposits, commercial tort claims, oil, gas and minerals, and all other property and interests in property of Grantor, whether tangible or intangible, and including without limitation all of Grantor's claims and rights to the payment of damages arising under the Bankruptcy Code (“Bankruptcy Claims”), excluding the Account Collateral; and

TOGETHER WITH all proceeds of, and proceeds of any sale of, any of the foregoing, including, without limitation, proceeds of insurance and condemnation awards, whether in cash or in liquidation or other claims, or otherwise; and

TOGETHER WITH any and all other rights of Grantor in and to the items set forth above.

The Deed to Secure Debt being given to secure: (a) Promissory Note from Grantor, dated June 29, 2018, in the original principal amount of One Million One Hundred Thirty-Seven Thousand Dollars ($1,137,000.00) (the “Note”); and (b) such other indebtedness of Grantor as is described in the Deed to Secure Debt (the “Secured Indebtedness”).

To the best of the undersigned’s knowledge and belief, the current owner of the Property is Grantor, and the party in possession of the Property is Grantor.

Due to the occurrence of the default under the Note and Deed to Secure Debt, the payment of the entire indebtedness evidenced by the Note and secured by the Deed to Secure Debt has been accelerated and has been declared due and payable in full. However, such payment not having been made, the Deed to Secure Debt became and is now foreclosable, and the Property shall be sold at public outcry pursuant to the terms of the power of sale provided in the Deed to Secure Debt, for the purposes of satisfying the amount due upon said Note and all sums secured by said Deed to Secure Debt.

The proceeds of said sale shall be applied, in whatever order Grantee in its sole discretion may decide, to the expenses of the sale and of all proceedings in connection therewith, including reasonable attorneys’ fees, to the payment of insurance premiums, liens, assessments, taxes and charges including utility charges advanced by Grantee, to payment of the outstanding principal balance of the indebtedness, to the accrued interest on all of the foregoing; and the remainder if any, shall be paid to Grantor, or to the person or entity lawfully entitled thereto.

Said Property will be sold as the property of the Grantor subject to all unpaid property taxes, liens, assessments, restrictions, restrictive covenants, rights of way, and easements of record which have priority over the Deed to Secure Debt, if any.

The sale will be conducted subject (1) to confirmation that the sale is not prohibited under the U.S. Bankruptcy Code and (2) to final confirmation and audit of the status of the loan with the holder of the Deed to Secure Debt.

Quentin Johnson, Authorized

Representative

225 West Washington Street

9th Floor

Chicago, IL 60606

Email:

quentin.johnson@alterdomus.com

Telephone: 312-767-9320

Aleksas A. Barauskas, Esq.

Akerman LLP

50 North Laura Street, Suite 3100

Jacksonville, FL 32202

Email:

aleksas.barauskas@akerman.com

Telephone: 904-798-3700

Fax: 904-798-3730

THIS LAW FIRM IS ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.

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