Notice Content
NOTICE OF SALE
UNDER POWER
STATE OF GEORGIA
COUNTY OF GWINNETT
Under and by virtue of the power of sale contained in that certain Deed to Secure Debt recorded April 30, 2008 in Deed Book 48815, Page 91, public records of Gwinnett County, Georgia from Indian Trail Retail Associates L.P. (the Grantor) to and in favor of Branch Banking and Trust Company, predecessor in interest to GCLRP, LLC (the Holder) as transferred and assigned by Branch Banking & Trust Company to VFC Partners 8 LLC by that certain Assignment recorded March 3, 2011 in Deed Book 50566, Page 413, aforesaid records, as further transferred and assigned by VFC Partners 8, LLC to Holder by that certain instrument filed in the public records of Gwinnett County, Georgia (as assigned, the Security Deed), securing that certain Promissory Note by and between Grantor and Branch Banking and Trust Company, executed on April 25, 2008 (the Note), in the amount of $925,000.00 will be sold at public outcry by Holder as attorney-in-fact of Grantor to the highest bidder for cash between the legal hours for sale before the Courthouse door in Gwinnett County, Georgia, on the first Tuesday in May, 2016, the following described land, improvements and appurtenances (hereinafter collectively referred to as the Premises) to wit:
All that tract or parcel of land lying and being in Land Lot 212 of the 6th District of Gwinnett County, Georgia, containing 1.908 acres and being more particularly described as follows:
BEGINNING at an iron pin at the intersection of the northerly right-of-way line of Beaver Ruin Road (right-of-way varies) with the right-of-way flair from Beaver Ruin Road and the easterly line of a 100 foot right-of-way of Indian TrailLilburn Road; thence along said right-of-way flair North 34 degrees 45 minutes 22 seconds West a distance of 71.26 feet to an iron pin on the easterly line of a 100 foot right-of-way of Indian TrailLilburn Road; thence along said right-of-way line North 08 degrees 49 minutes 42 seconds East a distance of 32.57 feet to an iron pin; thence continuing along said right-of-way line along the arc of a curve to the right a distance of 100.66 feet (chord bearing North 15 degrees 10 minutes 59 seconds East, chord distance 100.42 feet, radius 425.00 feet) to an iron pin; thence leaving said right-of-way line of Indian TrailLilburn Road North 85 degrees 38 minutes 33 seconds East a distance of 376.93 feet to an iron pin; thence South 10 degrees 27 minutes 42 seconds East a distance of 210.31 feet to an iron pin on the northerly right-of-way line of Beaver Ruin Road; thence along said right-of-way line of Beaver Ruin Road along the arc of a curve to the right a distance of 25.25 feet (chord bearing South 80 degrees 16 minutes 15 seconds West, chord distance 25.25 feet, radius 1,566.24 feet) to an iron pin; thence continuing along said right-of-way line North 09 degrees 16 minutes 02 seconds West a distance of 10.00 feet to an iron pin; thence continuing along said right-of-way line along the arc of a curve to the right a distance of 379.45 feet (chord bearing South 87 degrees 43 minutes 04 seconds West, chord distance 378.51 feet, radius 1,556.24 feet) to an iron pin and the POINT OF BEGINNING.
As shown on that certain survey entitled Updated ALTA/ACSM Land Title Survey For: Branch Banking and Trust Company, Indian Trail Retail Associates L.P. and First American Title Insurance Company, prepared by H.E. Harper, Land Surveyor, bearing the seal and certification of Michael J. Barger, G.R.L.S. No. 2958, dated July 28, 1997, last revised April 9, 2008.
The indebtedness evidenced by the Note is due and payable and remains unpaid. The Security Deed therefore has become and is now foreclosable according to its terms. Accordingly, the Premises will be sold at public outcry pursuant to the terms of the power of sale provided in the Security Deed.
The Premises will be sold on an as is, where is basis without recourse against Holder and without representation or warranty of any kind or nature whatsoever by Holder with respect thereto.
The proceeds of the sale are to be applied first to the expenses of the sale and all proceedings in connection therewith, including attorneys fees, then to the payment of all sums secured by the Security Deed, and the remainder, if any, will be paid to the person or persons legally entitled thereto, all as provided in the Security Deed. The Premises shall be sold as the property of Grantor, subject to all restrictions, easements and other matters of record that are prior to the Security Deed and to which the Security Deed is subject and to any unpaid city, county and state ad valorem taxes or assessments relating to the Premises.
To the best of the undersigneds knowledge and belief, the owner of the Premises is the Grantor and the party or parties in possession of the Premises is the Grantor or tenants of the Grantor.
GCLRP, LLC
As Attorney-in-Fact for
INDIAN TRAIL RETAIL ASSOCIATES, L.P.
Lisa Wolgast, Esq.
Morris, Manning & Martin, L.L.P.
1600 Atlanta Financial Center
3343 Peachtree Road, N.E.
Atlanta, Georgia 30326
(404) 233-7000
950-411460, 4/7,14,21,28
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