Notice Content
STATE OF GEORGIA
COUNTY OF GWINNETT
NOTICE OF SALE
UNDER POWER
Because of a default in the payment of the indebtedness secured by that certain Security Deed from Diversified Development Co., Inc. to The Community Bank, dated June 20, 2006, filed June 29, 2006, recorded in Deed Book 46684, Page 826, Gwinnett County, Georgia records, as modified by that Modification of Security Deed dated October 19, 2007, filed October 24, 2007, recorded at Deed Book 48374, Page 195, as assigned to Multibank 2009-1 CML-ADC Venture, LLC, by Assignment of Real Estate Security Deed from the Federal Deposit Insurance Corporation, as Receiver for The Community Bank, dated February 9, 2010, filed March 29, 2010, recorded in Deed Book 50000, Page 96, as corrected by that Corrected Assignment of Real Estate Security Deed dated February 9, 2010, filed August 20, 2010, recorded at Deed Book 50222, Page 136, as further assigned to CML-GA DKH, LLC, a Georgia limited liability company, by Assignment of Security Deed dated October 25, 2012, filed October 26, 2012, recorded in Deed Book 51749, Page 60 (hereinafter the aforementioned Security Deed together with all assignments collectively referred to as the Security Deed), securing a Promissory Note dated June 13, 2007, from Diversified Development Co., Inc. to The Community Bank, in the original principal amount of one million one hundred sixty-six thousand two hundred fifty and no/100ths dollars ($1,166,250.00), as renewed, amended and modified by that certain Promissory Note dated October 19, 2007, from Diversified Development Co., Inc. to The Community Bank, in the amount of two million one hundred twenty-two thousand five hundred and no/100ths Dollars ($2,122,500.00) (the Note), CML-GA DKH, LLC, a Georgia limited liability company, being the current holder of the Note and the Security Deed, has declared, and does hereby declare, the entire amount of said indebtedness evidenced by the Security Deed and the Note immediately due and payable on account of, among other possible events of default, the failure to make certain payments on the Note, and, pursuant to the power of sale contained in said Security Deed, CML-GA DKH, LLC, a Georgia limited liability company, or its assignee, will, on the first Tuesday in August, 2016, to-wit: August 2, 2016, during the legal hours of sale, before the Gwinnett County Courthouse door, sell at public outcry to the highest bidder for cash, the following described real property: All that tract or parcel of land lying and being in Land Lot 126 of the 5th District, Gwinnett County, State of Georgia, and being more particularly described as follows: Begin at the intersection of the northeastern mitered right of way of Lake Carlton Road (a 40 foot right of way) and the southern right of way of U.S. Highway 78 (a 180 foot right of way) being the true point of beginning; thence South 71 degrees 03 minutes 07 seconds East for a distance of 95.74 feet to an iron pin found; thence South 30 degrees 33 minutes 06 seconds East for a distance of 93.40 feet to an iron pin found; thence South 59 degrees 26 minutes 53 seconds West for a distance of 7.27 feet to an iron pin found; thence South 31 degrees 22 minutes 29 seconds East for a distance of 203.60 feet to a point on the northeasterly right of way of Palmer Drive; thence South 31 degrees 49 minutes 09 seconds East for a distance of 68.67 feet to a point on the northeasterly right of way of Palmer Drive; thence South 30 degrees 36 minutes 40 seconds East for a distance of 14.37 feet to a point on the northeasterly right of way of Palmer Drive; thence along a curve to the left having a radius of 150.00 feet and an arc length of 114.66 feet, being subtended by a chord of North 52 degrees 30 minutes 32 seconds West for a distance of 111.89 feet to a point on the southwesterly right of way of Palmer Drive; thence North 31 degrees 22 minutes 29 seconds West for a distance of 158.61 feet to a point on the southwesterly right of way of Palmer Drive; thence along a curve to the left having a radius of 167.36 feet and an arc length of 150.90 feet, being subtended by a chord of North 57 degrees 12 minutes 23 seconds West for a distance of 143.84 feet to a concrete right of way monument found on the southerly right of way of Palmer Drive; thence North 83 degrees 02 minutes 17 seconds West for a distance of 19.96 feet to a right of way monument found at the intersection of the southerly right of way of Palmer Drive and the easterly right of way of Lake Carlton Road (a 40 right of way); thence North 07 degrees 37 minutes 34 seconds East for a distance of 58.76 feet to a point on the southeastern mitered right of way of Lake Carlton Road; thence North 52 degrees 15 minutes 15 seconds East for a distance of 29.92 feet to a point on the northeastern mitered right of way of Lake Carlton Road and the true point of beginning. Together with and subject to covenants, easements, and restrictions of record. Said property contains 0.476 Acres more or less. Together with any and all of the following: (i) all buildings, structures and improvements now or hereafter located on the real property or on any part or parcel thereof and all fixtures affixed or attached, actually or constructively, thereto; (ii) all and singular the tenements, hereditaments, easements and appurtenances belonging thereunto or in any wise appertaining thereto and the reversion and reversions, remainder or remainders thereof; (iii) all Rents accruing therefrom, whether now or hereafter due; (iv) all accounts and contract rights now or hereafter arising in connection with any part or parcel thereof or any buildings, structures or improvements now or hereafter located thereon, including without limitation all accounts and contract rights in and to all leases or undertakings to lease now or hereafter affecting the land or any buildings, structures, or improvements thereon; (v) all minerals, flowers, crops, trees, timber shrubbery or other emblements now or hereafter located thereon or thereunder or on or under any part or parcel thereof; (vi) all estates, rights, title and interest therein, or in any part or parcel thereof; (vii) all equipment, machinery, apparatus, fittings, fixtures, furniture, furnishings, mobile homes, modular homes and all personal property of every kind or description whatsoever now or hereafter located thereon, or in or on the buildings, structures and improvements thereon, and used in connection with the operation and maintenance thereof, and all additions thereto and replacements thereof; and (viii) all building materials, supplies, goods and equipment delivered thereto and placed thereon for the purpose of being affixed to or installed or incorporated or otherwise used in the buildings, structures or other improvements now or hereafter located thereon or any part or parcel thereof. This 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 as to the amount and status of the loan with the holder of the Security Deed, including but not limited to a determination that the borrower has not reinstated the loan prior to the foreclosure sale. Said real property will be sold subject to any outstanding ad valorem taxes (including taxes which are a lien, but not yet due and payable), the right of redemption of any taxing authority, and any matters which might be disclosed by an accurate survey and inspection of the real property, any assessments, liens, encumbrances, zoning ordinances, restrictions, covenants, and matters of record superior to the Security Deed first set out above. Upon information and belief, said real property is presently in the possession or control Diversified Development Co., Inc., and will be sold as the property of Diversified Development Co., Inc., and the proceeds of said sale will be applied to the payment of said indebtedness and all the expenses of said sale, including attorneys fees, all as provided in said Security Deed, and the excess proceeds, if any, will be distributed as provided by law.
CML-GA DKH, LLC,
as Attorney-in-Fact for Diversified Development Co., Inc.
William J. Lieberbaum, Esq.
Slutzky, Wolfe & Bailey, LLP
2255 Cumberland Pkwy
Building 1300
Atlanta, GA 30339
(770) 438-8000
HYPERLINK mailto:wjl@swbatl.com wjl@swbatl.com
THIS LAW FIRM IS ATTEMPTING TO COLLECT A DEBT ON BEHALF OF THE ABOVE-REFERENCED LENDER AND ANY INFORMATION WILL BE USED FOR THAT PURPOSE.
7: 7, 14, 21, 28.
950-428883, 7/7,14,21,28
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