Notice Content
NOTICE OF SALE
UNDER POWER
IN SECURITY DEED,
ASSIGNMENT OF RENTS, SECURITY AGREEMENT AND FIXTURE FILING
UNDER AND BY VIRTUE of the power of sale contained in that certain Security Deed, Assignment of Rents, Security Agreement and Fixture Filing dated March 27, 2015, executed and delivered by NATIONAL ROLLOUT COMPANY, LLC, a Georgia Limited Liability Company (Grantor) to AMF HOLDINGS, LLC, a Utah Limited Liability Company (the Lender), and recorded in Deed Book 53606, Page 412, records of Gwinnett County, Georgia, as modified by that certain Loan Modification Agreement dated August 26, 2015, by and between Grantor and Lender, and recorded in Deed Book 53805, Page 842, aforesaid records (collectively, the Security Deed), Lender, as Attorney-in-Fact for Grantor, will sell at public outcry, to the highest bidder for cash, before the courthouse door of Gwinnett County, Georgia, within the legal hours of sale on the first Tuesday in April, 2016, the following described property (hereinafter collectively referred to as the Property):
All that tract or parcel of land lying and being in Land Lot 334 of the 7th District of Gwinnett County, Georgia, and being more particularly described as follows (hereinafter, the Land):
Beginning at a point marked by an iron pin, which point is on the common boundary between Land Lots 334 and 352 and is North 56 degrees East 198.92 feet from the common corners of Land Lots 351, 352, 334 and 335; running thence North 58 degrees 27 minutes East 215.19 feet to a point marked by an iron pin; running thence South 36 degrees 34 minutes East 1226.96 feet to a point marked by an iron pin, which point is on the North right-of-way line of the Eighty foot right-of-way of Jimmy Dodd Road and is, also 1370.7 feet as measured along said right-of-way line from the intersection of said right-of-way line with the West right-of-way line of the Sixty foot right-of-way line of Buford Dam Road; running thence in a westerly direction along said right-of-way line of the Sixty foot right-of-way line of Buford Dam Road; running thence in a westerly direction along said right-of-way line of said Jimmy Dodd Road along an arc having a distance of 144.00 feet, the chord of which is South 74 degrees 48 minutes West 143.71 feet; continuing along said right-of-way line of said Jimmy Dodd Road South 84 degrees 06 minutes West 144.76 feet to a point marked by an iron pin; running thence North 34 degrees 19 minutes West 1120.46 feet to a point which is the point of beginning. Said property being known as 1830 Jimmy Dodd Rd., Buford, GA 30518.
TOGETHER with all the improvements, buildings, fixtures now or hereafter erected on the Land, and all water rights, water company stock, water shares, rights of way, easements, leases, rents, revenues, issues, profits, income, permits, licenses, accounts, general intangibles, tenements, hereditaments, privileges and appurtenances now or hereafter a part of the Land, and all replacements and additions thereto.
The Property will be sold as the property of Grantor. To the best of the knowledge of the undersigned, the Property is in the possession of Grantor or those claiming by, through or under Grantor. The Property will be sold subject to (i) all unpaid taxes and assessments; (ii) all matters that would be disclosed by a current and accurate survey and inspection of the Property; and (iii) all easements, limitations, restrictions, reservations, covenants and encumbrances of record to which the Security Deed is inferior in terms of priority.
The Security Deed secures the indebtedness evidenced by that certain Secured Promissory Note dated March 27, 2015, made, executed and delivered by Grantor to Lender, as subsequently modified by that certain Modification of Secured Promissory Note dated August 26, 2015, by and between Grantor and Lender, in the original principal amount of $700,000.00 (collectively, the Note), together with other indebtedness of Grantor to Lender as more particularly set forth in the Security Deed. The entire indebtedness secured by the Security Deed has matured and/or is in default and has been declared due and immediately payable under the terms of the Note and the Security Deed.
The proceeds of the sale of the Property shall be applied first to payment of the indebtedness secured by the Security Deed and accrued interest and late charges thereon, then to any insurance premiums, liens, assessments, taxes and charges including utility charges with accrued interest thereon, and then to the reasonable expenses of such sale and of all proceedings in connection therewith, including reasonable attorneys fees (notice of intent to collect attorneys fees having been given), and finally, the remainder, if any, shall be paid to the party legally entitled to same.
The undersigned may sell that portion of the Property as may, under the laws of the State of Georgia, constitute an estate or interest in real estate separately from that portion of the Property as may, under the laws of the State of Georgia, constitute personalty and not an estate or interest in real estate, in which case separate bids will be taken therefor, or collectively in a single sale and lot, in which case a single bid will be taken therefore. The undersigned may also sell all of the Property collectively in a single sale and lot, in which case a single bid will be taken therefore, or may sell any part of the Property as a separate individual tract, in which case separate bids will be taken for each tract or part of the Property. Notice of the undersigneds intent will be given by announcement made at the commencement of the public sale. 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 Security Deed. Pursuant to O.C.G.A. Section 9-13-172.1, which allows for certain procedures regarding the rescission of judicial and non-judicial sales in the State of Georgia, the Deed Under Power and other foreclosure documents may not be provided until final confirmation and audit of the status of the loan as provided immediately above. Keith Crandall, Vice President, AMF Holdings, LLC, PO Box 708755, Sandy, Utah, 84070, Phone: 1-866-686-5646, ext. 451, is the officer of Lender responsible for the enforcement of the Note and Security Deed with the authority to negotiate, amend, and modify the terms thereof.
AMF HOLDINGS, LLC, a Utah Limited Liability Company,
as Attorney-in-Fact for
NATIONAL ROLLOUT COMPANY, LLC
Alexander S. Clay, Esq.
Smith, Gambrell & Russell, LLP
1230 Peachtree Street
Atlanta, Georgia 30309
(404) 815-3500
950-405488, 3/10,17,24,31
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