Notice Content
NOTICE OF SALE
STATE OF GEORGIA
GWINNETT COUNTY
By virtue of a Power of Sale contained in the Deed to Secure Debt and Security Agreement from Northeast Community Baptist Church, Inc. to The Summit National Bank, dated January 30, 2004, recorded February 2, 2004 in Deed Book 36897, Page 51, Gwinnett County, Georgia records, as modified by First Modification of Deed to Secure Debt and Security Agreement and of Assignment of Leases and Rents dated November 5, 2009, recorded November 30, 2009 in Deed Book 49821, page 697, aforesaid records, as transferred and assigned by Receivers Assignment of Promissory Note, Business Loan Agreement, Commercial Guaranty, First Modification of Deed to Secure Debt and Agreement and of Assignment of Leases and Rents, Deed to Secure Debt and Security Agreement and Assignments of Leases and Rents dated February 23, 2016, recorded May 4, 2016 in Deed Book 54263, Page 823, aforesaid records, given to secure a Promissory Note dated January 30, 2004 in the original principal amount of One Million Two Hundred Seventy Five Thousand and NO/100 ($1,275,000.00) Dollars, as modified by a Promissory Note dated November 5, 2009 in the principal amount of One Million One Hundred Thirty One Thousand Six Hundred Fifty Eight and 20/100 ($1,131,658.20) Dollars with interest as provided therein on the unpaid balance until paid; there will be sold at public outcry to the highest and the best bidder for cash before the Courthouse door of Gwinnett County, Georgia, within the legal hours of sale on the first Tuesday in August, 2016, the following described property:
ALL THAT TRACT OR PARCEL OF LAND LYING AND BEING IN LAND LOT 241 AND 242 OF THE 6th LAND DISTRICT, GWINNETT COUNTY, GEORGIA, CONTAINING 5.820 ACRES, MORE OR LESS, AND BEING MORE PARTICULARLY DESCRIBED AS FOLLOWS:
BEGINNING AT A CONCRETE MONUMENT FOUND AT THE INTERSECTION OF THE NORTHERLY RIGHT OF WAY OF BEAVER RUIN ROAD (RIGHT OF WAY VARIES IN WIDTH) WITH THE EASTERLY RIGHT OF WAY OF LIGHT CIRCLE (60 FOOT RIGHT OF WAY), SAID INTERSECTION POINT BEING THE SOUTHEASTERLY END OF A RIGHT OF WAY MITER ON LIGHT CIRCLE; THENCE RUNNING ALONG SAID RIGHT OF WAY MITER NORTH 21 DEGREES 28 MINUTES 02 SECONDS WEST A DISTANCE OF 47.46 FEET TO A POINT, SAID POINT BEING THE NORTHWESTERLY END OF SAID RIGHT OF WAY MITER (RIGHT OF WAY BEING 60 FEET IN WIDTH AT SAID POINT); THENCE RUNNING ALONG THE EASTERLY SIDE OF 60-FOOT RIGHT OF WAY, NORTH 19 DEGREES 26 MINUTES 38 SECONDS A DISTANCE OF 113.10 FEET TO A POINT; THENCE CONTINUING ALONG SAID RIGHT OF WAY AN ARC DISTANCE OF 136.46 FEET TO A POINT, SAID ARC HAVING A RADIUS OF 3,586.84 FEET, CHORD OF 136.45 FEET AND CHORD BEARING OF NORTH 20 DEGREES 32 MINUTES 02 SECONDS EAST; THENCE CONTINUING ALONG SAID RIGHT OF WAY ALONG A CURVE TO THE RIGHT AN ARC DISTANCE OF 163.95 FEET TO A POINT, SAID ARC HAVING A RADIUS OF 321.07 FEET, CHORD OF 162.18 FEET AND A CHORD BEARING OF NORTH 36 DEGREES 15 MINUTES 08 SECONDS EAST; THENCE CONTINUING ALONG SAID RIGHT OF WAY ALONG A CURVE TO THE RIGHT AN ARC DISTANCE OF 94.40 FEET TO A POINT, SAID ARC HAVING A RADIUS OF 1,414.26 FEET, CHORD OF 94.38 FEET AND CHORD BEARING OF NORTH 52 DEGREES 47 MINUTES 35 SECONDS EAST; THENCE LEAVING SAID RIGHT OF WAY SOUTH 43 DEGREES 31 MINUTES 52 SECONDS EAST A DISTANCE OF 329.28 FEET TO A 1 INCH HOLLOW TOP FOUND; THENCE NORTH 54 DEGREES 18 MINUTES 32 SECONDS EAST A DISTANCE OF 158.68 FEET TO A 11/2 INCH HOLLOW TOP FOUND; THENCE SOUTH 39 DEGREES 45 MINUTES 23 SECONDS A DISTANCE OF 207.53 FEET TO A 11/4 INCH HOLLOW TOP FOUND; THENCE SOUTH 50 DEGREES 41 MINUTES 01 SECONDS WEST A DISTANCE OF 123.40 FEET TO A 11/4 INCH HOLLOW TOP FOUND; THENCE SOUTH 50 DEGREES 47 MINUTES 30 SECONDS WEST A DISTANCE OF 398.97 FEET TO A POINT WHICH IS LOCATED ON THE NORTHERLY RIGHT OF WAY OF BEAVER RUIN ROAD (RIGHT OF WAY VARIES IN WIDTH); THENCE CONTINUING ALONG SAID RIGHT OF WAY AN ARC DISTANCE OF 365.53 FEET TO A POINT, SAID ARC HAVING A RADIUS OF 1,702.02 FEET, CHORD OF 364.82 FEET AND CHORD BEARING NORTH 62 DEGREES 17 MINUTES 31 SECONDS WEST TO THE POINT OF BEGINNING. SAID TRACT CONTAINING 5.820 ACRES, MORE OR LESS, AND DESCRIBED ON A SURVEY FOR NORTHEAST COMMUNITY BAPTIST CHURCH, INC., THE SUMMIT NATIONAL BANK, AND FIRST AMERICAN TITLE INSURANCE COMPANY LAST REVISED JANUARY 24, 2004 BY PINION & McGAUGHEY LAND SURVEYORS, INC, GEORGE H. PINION, GEORGIA REGISTERED PROFESSIONAL LAND SURVEYOR NO. 1606.
SUBJECT PROPERTY ADDRESS: 5395 LIGHT CIRCLE, NORCROSS, GA 30071
PARCEL ID: R6241 017
The debt secured by said Deed to Secure Debt and Security Agreement has been and is hereby declared due because of, among other possible events of default, the loan has matured and non-payment of the monthly installments on said loan. The debt remaining in default, this sale will be made for the purpose of paying the same and all expenses of this sale, including attorneys fees.
The property will be sold subject to any outstanding ad valorem taxes, any assessments, and any liens superior to the Deed to Secure Debt and Security Agreement first set out above. East West Bank is the entity with the full authority to negotiate, amend and modify all terms of the Promissory Note and the Deed to Secure Debt and Security Agreement. East West Banks address is 135 N. Los Robles Avenue, 6th Floor, Pasadena, California 91101, Attn: Kurth DeMoss and may be reached at 626-768-6631. To the best knowledge and belief of the undersigned, Northeast Community Baptist Church, Inc., is in possession of said property.
East West Bank
as Attorney in Fact for
Northeast Community Baptist Church, Inc.
Fred B. Wachter
THE WACHTER LAW FIRM
106 Hammond Drive NE
Atlanta, Georgia 30328
770.973.1100
950-429128, 7/7,14,21,28
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