Notice Content
gpn11 STATE OF GEORGIACOUNTY OF COLQUITT NOTICE OF SALEUNDER POWERCONTAINED INCONSTRUCTION DEED Under and by virtue of the power of sale contained in that certain Construction Deed to Secure Debt and Security Agreement dated February 13, 1999 (as amended and assigned, the "Construction Deed") from AFFORDABLE/NORTHGATE, L.P., a Georgia limited partnership (hereinafter referred to as "Grantor") to NATIONAL MORTGAGE INVESTORS, LLC, a Connecticut limited liability company ("Grantee"), and filed for record in Deed Book649, Page 405, in the Office of the Clerk of the Superior Court of Colquitt County, Georgia, as modified by that certain Modification to Construction Deed to Secure Debt and Security Agreement dated April 30, 2003 by and between Grantor and Grantee, and filed for record in Deed Book 784, Page 687, aforesaid records, as amended by that certain Amendment to Construction Deed to Secure Debt and Security Agreement dated March 29, 2016 by and between Grantor and Grantee, and filed for record in Deed Book 1264, Page 142, aforesaid records; Grantee, as attorney-in-fact for Grantor will sell at public outcry to the highest bidder for cash before the courthouse door at Colquitt County, Georgia, within the legal hours of sale on the first Tuesday in May, namely May 3, 2016, the property conveyed by said Construction Deed (the "Land") and described as follows, towit: All that fifteen (15) acre, more or less, tract of land lying and being in Land Lot 261 of the 8th District, in the city of Moultrie, Colquitt County, Georgia, being more particularly described as follows: TO REACH A POINT AND PLACE OF BEGINNING, begin at a concrete monument at the intersection of the west margin of the right of way of U.S. Highway 319 and the north margin of the right of way of Georgia State Hwy. 37; run thence in a southwesterly direction along the north margin of the right of way of Georgia State Hwy. 37 a distance of 1327.74 feet and to the point and place of beginning. From said point and place of beginning, run thence South 59 17 48 West along the north margin of the right of way of Georgia State Hwy. 37 a distance of 207.64 feet; continue thence along the arc of a curve along the north margin of the right of way of Georgia State Hwy. 37, South 63 40 07 West an arc distance of 430.91 feet and a chord distance of 430.49 feet; thence leaving the north margin of the right of way of Georgia State Hwy. 37 run thence North 00 08 18 East a distance of 1298.33 feet; run thence South 89 51 42 East a distance of 563.64 feet; run thence South 00 08 18 West a distance of 1000.00 feet to the north margin of the right of way of Georgia State Hwy. 37 and to the point and place of beginning. Said property being more particularly described on a plat of survey entitled Property of Affordable/Northgate, L.P., a Georgia limited partnership, dated April 22, 1997, prepared by H. J. Griffin and Associates, which plat of survey has been recorded in Plat Book 32, Page 123, Colquitt County Land Records, said plat of survey being incorporated by reference herein. Together with all buildings, structures, and other improvements now or hereafter located on the Land; Together with all right, title and interest of Grantor in and to all machinery, appliances, apparatus, equipment, fittings and fixtures (whether actually or constructively attached and including all trade, domestic and ornamental fixtures) now or hereafter located in, upon or under the Land or improvements thereon, or any part thereof, or used in connection with any present or future operation thereof, and all additions thereto and replacements therefor, including but without limiting the generality of the foregoing, all heating, air-conditioning, freezing, lighting, laundry, cooking, incinerating, and power equipment; engines; pipes; pumps; tanks; motors; conduits; switchboards; plumbing, lifting, cleaning, fire prevention, fire extinguishing, refrigerating, ventilating, and communications apparatus; boilers, ranges, furnaces, oil burners, or units thereof; appliances; air-cooling and air-conditioning apparatus; vacuum cleaning systems; elevators; escalators; shades; awnings; screens; storm doors and windows; stoves; wall beds; refrigerators; dishwashers; attached cabinets; partitions; ducts and compressors; rugs and carpets; mirrors; mantles; draperies; furniture and furnishings; Together with all right, title and interest of Grantor in and to the land lying in the bed of any street, road, avenue, alley or public place, opened or proposed, and all easements and rights of way, public or private, tenements, hereditaments, rights and appurtenances, now or thereafter used in connection with, belonging or appertaining to the Land; Together with all right, title and interest of Grantor in and to all water, ditches, wells, reservoirs and drains and all water, ditch, well, reservoir and drainage rights which are appurtenant to, located on, under or above or used in connection with the Land and/or improvements thereon, or any part thereof, whether now existing or hereafter created or acquired; Together with all right, title and interest of Grantor in and to the minerals, flowers, shrubs, crops, trees, timber, and other emblements now or hereafter located on under or above the Land; Together with all right, title and interest of Grantor in and to all articles of personal property and additions to, substitutions for, changes in or replacements of the whole or any part thereof, including, without limitation, all furniture and furnishings, now or at any time hereafter affixed to, attached to, placed upon or used in any way in connection with the use, enjoyment, occupancy or operation of the Land and/or improvements thereon, or any part thereof; Together with all right, title and interest of Grantor in and to the rents, royalties, issues, profits, revenue, income and other benefits of the Land and/or improvements thereon, or arising from the use or enjoyment of all or any portion thereof or from any lease, sublease, license, concession or occupancy agreement pertaining thereto or arising from any of the General Intangibles as defined hereinbelow, and all right, title and interest of Grantor in and to all leases, subleases, licenses, concessions and occupancy agreements of the Land and/or improvements thereon now or hereafter entered into and all right, title and interest of Grantor thereunder, including, without limitation, cash or securities deposited thereunder to secure performance by the tenants, lessees, sublessees or licensees, as applicable, of their obligations thereunder, whether said cash or securities are to be held until the expiration of the terms of said leases, subleases, licenses, concessions or occupancy agreements or applied to one of the installments of rent coming due prior to the expiration of said terms, subject to, however, the provisions contained in Section 1.9 of Construction Deed; Together with all right, title and interest of Grantor in and to all building materials, supplies and equipment now located on or in or hereafter delivered to the Land or improvements thereon and all right, title and interest of Grantor in and to all architectural renderings, models, plans, specifications, studies and data now or hereafter relating to the improvements; Together with all right, title and interest of Grantor in, to and under any and all contracts and agreements now or hereafter entered into by Grantor covering any part of the Land or improvements thereon and all revenue, income and other benefits thereof, including, without limitation, service contracts, maintenance contracts and any contracts relating or pertaining to construction on the Land and/or improvements thereon or to the management or operation of the Land or improvements thereon; Together with all monetary deposits which Grantor has been required to give any public or private utility services furnished to the Land and/or improvements thereon and all right, title and interest of Grantor with respect to water taps, sewer taps and other utility services relating to the Land or improvements thereon whether now owned or hereafter acquired; Together with all right, title and interest of Grantor in and to all funds, accounts, instruments, accounts receivable, documents, general intangibles (including trademarks, trade names and symbols used in connection with the Land or improvements thereon) and notes or chattel paper arising from or by virtue of any transactions related to the Land and/or improvements thereon; Together with all right, title and interest of Grantor in and to all permits, licenses, franchises, certificates and other rights and privileges obtained in connection with the Land or improvements thereon and all right, title and interest of Grantor in and to all warranties and guaranties relating to the improvements or to any fixtures, equipment, furniture, furnishings, personal property and components of any of the foregoing located or installed on the Land or improvements thereon;Together with all right, title and interest of Grantor in and to all proceeds (including claims and demands, therefor) of the conversion, voluntary or involuntary, of any of the foregoing into cash or liquidated claims, including without limitation, proceeds of insurance and condemnation awards; Together with all monetary deposits in to escrow and reserve accounts which Grantor is required to make pursuant to the Loan Agreement; and Together with all other or greater rights and interests of every nature in the Land and/or improvements thereon or in the possession or use thereof and income therefrom, whether now owned or subsequently acquired by Grantor. The address of the Land is 1515 4th Ave NE, Moultrie, GA 31768. The Construction Deed being given to secure: a Promissory Note from Grantor, to Grantee dated February 13, 1999, in the original principal amount of ONE MILLION NINE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($1,950,000.00) amended by that certain Amended and Restated Note dated April 30, 2003 to the then outstanding balance of ONE MILLION THREE HUNDRED SIXTY THOUSAND ONE HUNDRED FIFTY ONE AND NO/100 DOLLARS ($1,360,151.00), (jointly, the "Note"). 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 Premises is Grantor. Due to the occurrence of the maturity default under the Note and Construction Deed, the payment of the entire indebtedness evidenced by the Note and secured by the Construction Deed has been accelerated and has been declared due and payable in full. However, such payment not having been made, the Construction Deed 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 Construction Deed, for the purposes of satisfying the amount due upon said Note and all sums secured by said Construction Deed. Grantee shall collect the proceeds of such sale, reserving therefrom all unpaid Secured Indebtedness with interest then due thereon, and all amounts advanced by Grantee for taxes, assessments, fire insurance premiums, and other charges, with interest at the rate of interest specified in the Note thereon from date of payment, together with all reasonable costs and charges for advertising, and commissions for selling the Premises, and reasonable attorneys fees actually incurred and pay over any surplus to Grantor. 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 Construction Deed, if any, including, without limitation, the following (Permitted Encumbrances): Real Estate ad valorem taxes. Easement of right-of-way in favor of Georgia Power Company, dated April 8, 1959, filed April 18, 1959, recorded in Deed Book 194, Page 544, Colquitt County, Georgia, Records. Utility Easement in favor of the City of Moultrie, Georgia, dated June 9, 1998, filed June 16, 1998, recorded in Deed Book 615, Page 429, aforesaid records. 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 Construction Deed. NATIONAL MORTGAGE INVESTORS, LLC, a Connecticut limited liability company, as Attorney-in-Fact for Affordable/Northgate, L.P. Eric L. Weiss, Esq.Schulten, Ward & Turner, LLP260 Peachtree Street, #2700Atlanta, Georgia 30303(404) 688-6800 THIS LAW FIRM IS ATTEMPTING TO COLLECT A DEBT.ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. 001004604/6,13,20,27/16
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