Notice Content
STATE OF GEORGIA
COUNTY OF GWINNETT
NOTICE OF SALE
UNDER POWER
By virtue of the power of sale contained in that certain Deed to Secure Debt and Security Agreement from James H. Cowart to The Peachtree Bank (with ACM SATILLA LN V LLC as assignee of PNC Bank, National Association, LLC (PNC), successor by merger to RBC Bank (USA) (RBC USA), formerly known as RBC Centura Bank (RBC Centura), successor by merger to The Peachtree Bank (TPB)), dated July 26, 2007, recorded at Deed Book 48122, Page 709, Gwinnett County, Georgia records, and modified by that certain Memorandum of Modification of Loan Documents dated December 19, 2013 and recorded at Deed Book 52704, Page 665, aforesaid records (as assigned and amended, collectively, the Security Deed); said Security Deed being given to secure indebtedness under that certain Promissory Note (hereinafter the Note) from James H. Cowart to TPB (with ACM SATILLA LN V LLC as assignee of PNC, successor by merger to RBC USA, formerly known as RBC Centura, successor by merger to TPB), dated July 26, 2007, in the original principal amount of SIXTEEN MILLION ONE HUNDRED EIGHTY FIVE THOUSAND AND NO/100 DOLLARS ($16,185,000.00), with interest on the unpaid balance from the date thereof until maturity or until paid, together with all other amounts payable with respect thereto; there will be sold by the undersigned at public outcry to the highest bidder, for cash before the Courthouse door in Lawrenceville, Gwinnett County, Georgia, within the legal hours of sale on the first Tuesday in February, 2016, the property being more fully described as follows:
TRACT 1:
ALL THAT TRACT OR PARCEL OF LAND lying and being in Land Lot 136 of the 7th District, Gwinnett County, Georgia, and being more particularly described as follows:
BEGINNING at a point maned by a rock found at scrape blade at the land lot corner common to Land Lots 136, 137, 142, and 143 and run thence along the land lot line common to Land Lots 136 and 137 South 31 degrees 15 minutes 52 seconds East 841.15 feet to an iron pin found; thence run South 30 degrees 37 minutes 32 seconds East 201.64 feet to a point marked by an iron pin on the northwesterly right of way line of Interstate Highway No. 85; run thence along said right of way line South 67 degrees 20 minutes 55 seconds West 1688.50 feet to a point marked by an iron pin found; thence leaving said right of way, run North 31 degrees 15 minutes 48 seconds West 287.15 feet to an iron pin found; thence run North 30 degrees 31 minutes 29 seconds West 510.15 feet to a point marked by a scrape blade on the land lot line common to Land Lots 136 and 143; run thence along said land lot line North 58 degrees 59 minutes 18 seconds East 1665.13 feet to a point marked by a rock found at scrape blade at the land lot corner common to Land Lots 136, 137, 142 and 143, which is the place or point of beginning. Said property containing 35.271 acres shown on a plat of survey for James H. Cowart, Kelco Investments, LLC and Chicago Title Insurance Company, prepared by Development Consultants Group, bearing the Seal of Donald H. Hollard, G.R.L.S. #2637, and dated April 3, 2002.
TRACT 2:
All that tract or pared of land lying and being in Land Lot 143 of the 7th Land District of Gwinnett County, Georgia, being more particularly described as follows:
TO FIND THE TRUE POINT OF BEGINNING, begin at a 1 inch open-top pipe found on the southeastern right-of-way line of Georgia S.R. 324 (an 80 foot right-of-way), said open-top pipe being 1527.53 feet, as measured along said right-of-way line, from its intersection with the southeastern right-of-way line of Sunny Hill Road (a 60-foot right-of-way); thence leaving said right-of-way line and run thence South 22 degrees 44 minutes 03 seconds East a distance of 99.50 feet to an iron pin set; run thence South 11 degrees 02 minutes 17 seconds East a distance of 149.70 feet to a concrete monument found; run thence North 74 degrees 55 minutes 07 seconds East a distance of 124.48 feet to a concrete monument found; run thence South 13 degrees 05 minutes 49 seconds East a distance of 499.81 feet to a 1/4 rebar found; run thence South 13 degrees 10 minutes 03 seconds East a distance of 173.02 feet to a one inch rebar found; run thence South 46 degrees 58 minutes 30 seconds West a distance of 231.31 feet to 3/8 rebar found; run thence South 12 degrees 52 minutes 17 seconds East a distance of 923.56 feet to an iron pin set; run thence North 60 degrees 25 minutes 55 seconds East a distance of 1313.41 feet to a 3/8 inch rebar found; run thence North 31 degrees 58 minutes 22 seconds West a distance of 199.56 feet to a scrape blade found; run thence North 31 degrees 12 minutes 18 seconds West a distance of 209.21 feet to an angle iron pin found; run thence North 35 degrees 48 minutes 42 seconds East a distance of 1040.75 feet to an iron pin set on the southwestern right-of-way line of Georgia Highway No. 324; run thence along said right-of-way South 61 degrees 29 minutes 59 seconds East a distance of 72.55 feet to a point; thence continuing along said right-of-way line South 58 degrees 36 minutes 36 seconds East a distance of 138.96 feet to a point; thence continuing along said right-of-way line South 56 degrees 29 minutes 37 seconds East a distance of 200.67 feet to a point; thence continuing along said right-of-way line South 56 degrees 34 minutes 58 seconds East a distance of 240.74 feet to a 3/4 open top pipe found; thence leaving said right-of-way line and run South 00 degrees 15 minutes 21 seconds East a distance of 338.15 feet to an iron pin set; run thence South 13 degrees 56 minutes 33 seconds West a distance of 259.90 feet to a one inch open top pipe found; and run thence North 71 degrees 18 minutes 17 seconds West a distance of 315.05 feet to a 1/2 open top pipe found and THE TRUE POINT OF BEGINNING; FROM THE TRUE POINT OF BEGINNING THUS ESTABLISHED, running thence North 71 degrees 18 minutes 17 seconds West a distance of 300.62 feet to an iron pin set; running thence South 23 degrees 52 minutes 33 seconds West a distance of 300.00 feet to an iron pin set; running thence South 73 degrees 18 minutes 29 seconds East a distance of 293.50 feet to a 1/2 open top pipe found; and running thence North 25 degrees 29 minutes 35 seconds East a distance of 290.56 feet to a 1/2 open top pipe found and the POINT OF BEGINNING; said metes and bounds, courses and distances begin shown on plat of survey for James H. Cowart and Fidelity National Title Insurance Company of New York, prepared by Precision Planning, Inc., dated February 13, 1998, last revised July 17, 2000, said plat of survey being incorporated herein by this reference and made a part of this description; said property contains 1.998 acres, according to said survey.
TRACT 2 CONTINUED:
All that tract or parcel of land lying and being in Land Lot 143 of the 7th Land District of Gwinnett County, Georgia, being more particularly described as follows:
TO FIND THE TRUE POINT OF BEGINNING, begin at a 1 inch open-top pipe found on the southeastern right-of-way line of Georgia S. R. 324 (an 80 foot right-of-way), said open-top pipe being 1527.53 feet, as measured along said right-of-way line, from its intersection with the southeastern right-of-way line of Sunny Hill Road (a 60 foot right-of-way); thence leaving said right-of-way line and run thence South 22 degrees 44 minutes 03 seconds East a distance of 99.50 feet to an iron pin set; run thence South 11 degrees 02 minutes 17 seconds East a distance of 149.70 feet to a concrete monument found; run thence North 74 degrees 55 minutes 07 seconds East a distance of 124.48 feet to a concrete monument found; run thence South 13 degrees 05 minutes 49 seconds East a distance of 499.81 feet to a 1/4 rebar found; run thence South 13 degrees 10 minutes 03 seconds East a distance of 173.02 feet to a 1 inch rebar found; and run thence South 46 degrees 58 minutes 30 seconds West a distance of 231.31 feet to a 3/8 rebar found and THE TRUE POINT OF BEGINNING; FROM THE TRUE POINT OF BEGINNING THUS ESTABLISHED, running thence South 12 degrees 52 minutes 17 seconds East for a distance of 923.56 feet to an iron pin set; thence North 60 degrees 25 minutes 55 seconds East for a distance of 1313.41 feet to a 3/8 inch rebar found; running thence North 31 degrees 58 minutes 22 seconds West for a distance of 199.56 feet to a scrape blade found; thence North 31 degrees 12 minutes 18 seconds West for a distance of 209.21 feet to an angle iron found; running thence North 35 degrees 48 minutes 42 seconds East for a distance of 1040.75 feet to an iron pin set on the southwestern right-of-way line of Georgia Highway No. 324; running thence along said right-of-way South 61 degrees 29 minutes 59 seconds East a distance of 72.55 feet to a point; thence continuing along said right-of-way South 58 degrees 36 minutes 36 seconds East a distance of 138.96 feet to a point; thence continuing along said right-of-way South 56 degrees 29 minutes 37 seconds East a distance of 200.67 feet to a point; thence continuing along said right-of-way South 56 degrees 34 minutes 58 seconds East a distance of 2440.74 feet to a 3/4 open top pipe found; thence leaving said right-of-way and running South 00 degrees 15 minutes 21 seconds East a distance of 338.15 feet to an iron pin set; running thence South 13 degrees 56 minutes 33 seconds West a distance of 259.90 feet to a 1 inch open top pipe found; running thence North 71 degrees 18 minutes 17 seconds West for a distance of 615.67 feet to an iron pin set; running thence South 23 degrees 52 minutes 33 seconds West a distance of 300.00 feet to an iron pin set; running thence South 73 degrees 18 minutes 29 seconds East a distance of 758.50 feet to an iron pin set on the northwestern right-of-way line of Brown Road (60 foot right-of-way); running thence along said right-of-way South 21 degrees 56 minutes 07 seconds West a distance of 94.82 feet to a point; running thence continuing along said right-of-way South 16 degrees 13 minutes 47 seconds West a distance of 80.81 feet to a point; thence continuing along said right-of-way South 12 degrees 44 minutes 17 seconds West a distance of 78.98 feet to an iron pin set; thence leaving said right-of-way line and running North 79 degrees 20 minutes 54 seconds West a distance of 172.98 feet to an iron pin set; running thence South 64 degrees 39 minutes 57 seconds West a distance of 149.66 feet to a 1 inch open top pipe found; running thence South 21 degrees 45 minutes 13 seconds East a distance of 364.84 feet to a 1 inch open top pipe found on the northwestern right-of-way line of Brown Road (a 60-foot right-of-way); running thence along said right-of-way South 56 degrees 48 minutes 55 seconds West a distance of 107.42 feet to a point; thence continuing along said right-of-way line South 50 degrees 40 minutes 39 seconds West a distance of 102.85 feet to a point; thence continuing along said right-of-way line South 44 degrees 36 minutes 46 seconds West a distance of 44.97 feet to a point; thence continuing along said right-of-way South 36 degrees 09 minutes 24 seconds West a distance of 73.90 feet to a point; thence continuing along said right-of-way line South 29 degrees 34 minutes 59 seconds West a distance of 89.35 feet to a point; thence continuing along said right-of-way line South 26 degrees 59 minutes 57 seconds West a distance of 107.94 feet to a point; thence continuing along said right-of-way line South 25 degrees 56 minutes 39 seconds West a distance of 393.27 feet to a point; thence continuing along said right-of-way line South 32 degrees 51 minutes 39 seconds West a distance of 89.51 feet to a point; thence continuing along said right-of-way line South 44 degrees 39 minutes 27 seconds West a distance of 67.17 feet to a point; thence continuing along said right-of-way line South 54 degrees 45 minutes 55 seconds West a distance of 62.42 feet to a point; thence continuing along said right-of-way line South 58 degrees 15 minutes 30 seconds West a distance of 152.63 feet to an iron pin set at the intersection of said right-of-way line of Brown Road with the northern right-of-way line of the Outer Perimeter (right-of-way width varies); thence along said northern right-of-way line of the Outer Perimeter North 79 degrees 01 minutes 24 seconds West a distance of 788.26 feet to an iron pin set; thence continuing along said right-of-way line North 60 degrees 26 minutes 28 seconds West a distance of 551.01 feet to an iron pin set; thence continuing along said right-of-way line North 36 degrees 31 minutes 25 seconds West a distance of 1053.64 feet to an iron pin set; thence continuing along said right-of-way North 36 degrees 35 minutes 07 seconds West a distance of 6.52 feet to an iron pin set; and running thence North 46 degrees 57 minutes 37 seconds East a distance of 905.04 feet to a 3/8 inch rebar found and the POINT OF BEGINNING; said metes and bounds, courses and distances being shown on plat of survey for James H. Cowart and Fidelity National Title Insurance Company of New York, prepared by Precision Planning, Inc., dated February 13, 1998, last revised July 17, 2000, said plat of survey being incorporated herein by this reference and made a part of this description; said property contains 83.270 acres, according to said survey.
The debt secured by said Note and Security Deed has been and is hereby declared due and payable in full because of, among other possible events of default, non payment of principal and interest owed in accordance with the terms of the Note and the Security Deed. The indebtedness remaining in default, this sale will be made for purposes of paying the same and all expenses of this sale, including attorneys fees.
Said property will be sold as the property of James H. Cowart, without recourse and without representation or warranty, express or implied, of any nature whatsoever with respect thereto and will be sold subject to all unpaid taxes, assessments and items of record superior to the Security Deed.
ACM SATILLA LN V LLC, a Delaware limited liability company,
As Attorney in Fact for James H. Cowart
c/o William L. Lovell, Esq.
Hartman Simons & Wood LLP
6400 Powers Ferry Road, N.W.
Suite 400
Atlanta, Georgia 30339
(770) 955-3555
THIS LAW FIRM MAY BE DEEMED TO BE A DEBT COLLECTOR AND IS ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
DOCPROPERTY DocNumber 3027084-1 12238.0007000
950-303820, 1/7,14,21,28
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