Notice Content
NOTICE OF SALE
UNDER POWER
GEORGIA,
GWINNETT COUNTY
Under and by virtue of the Power of Sale contained in that certain Real Estate Deed to Secure Debt from A&M Leasing Company, LLC (Grantor) to Pinnacle Bank (Grantee) dated February 28, 2012, filed and recorded March 7, 2012 in Deed Book 51220, Page 552, Gwinnett County, Georgia Records, as modified by that certain Modification of Security Deed by and between Grantor and Grantee dated April 29, 2015, filed and recorded May 8, 2015, in Deed Book 53543, Page 604, aforesaid records (as modified, the First Security Deed), and that certain Real Estate Deed to Secure Debt dated February 28, 2012, filed and recorded March 7, 2012 in Deed Book 51220, Page 565, aforesaid records, as modified by that certain Modification of Deed to Secure Debt dated December 27, 2013, filed and recorded January 9, 2014, in Deed Book 52732, Page 94, aforesaid records (as modified, the Second Security Deed) (the First Security Deed and Second Security Deed, hereinafter, collectively, the Security Deeds), conveying the after-described property to secure that certain Master Loan Modification Agreement dated December 15, 2015, from Telecom Network Solutions, Inc., A&M Leasing Company, LLC and Mary Anne Burke payable to Grantee in the original principal amount of One Million Four Hundred Thousand and 00/100 Dollars ($1,400,000.00), with interest thereon as set forth therein, (as renewed and amended, the Note), there will be sold 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 May, 2017, the following described property:
All that tract or parcel of land lying and being in Land Lots 58 and 59 of the 6th District of Gwinnett County, Georgia, and being more particularly described as follows:
To arrive at the true point of beginning, commence at the land lot corner common to Land Lots 58, 59, 60 and 61:
Thence South 25 degrees 40 minutes 11 seconds East for a distance of 1169.32 feet along the North land lot line of Land Lot 59 to a point on the right of way of Centre Park Court, said right of way is on a cul-de-sac with a radius of 64.00 feet, said point is the true point of beginning; thence along a curve to the left having a radius of 64.00 feet and an arc length of 167.53 feet, being subtended by a chord of South 44 degrees 35 minutes 46 seconds East for a distance of 123.63 feet to a point on said right of way; thence South 25 degrees 35 minutes 46 seconds East for a distance of 66.29 feet to a point on said right of way; thence along a curve to the right having a radius of 120.00 feet and an arc length of 102.50 feet, being subtended by a chord of South 01 degree 14 minutes 12 seconds East for a distance of 99.42 feet to a point on said right of way; thence South 23 degrees 15 minutes 32 seconds West for a distance of 338.53 feet to a point on said right of way; thence South 70 degrees 31 minutes 11 seconds West for a distance of 40.00 feet to a point on the northerly right of way of West Park Place, said right of way is 100.00 feet; thence along a curve to the right having a radius of 1000.00 feet and an arc length of 204.36 feet, being subtended by a chord of North 57 degrees 30 minutes 25 seconds West for a distance of 204.01 feet to a point on said right of way; thence North 49 degrees 21 minutes 31 seconds West for a distance of 235.14 feet to a point on said right of way; thence North 26 degrees 42 minutes 04 seconds West for a distance of 108.84 feet; thence North 64 degrees 58 minutes 24 seconds East for a distance of 500.17 feet to the true point of beginning.
Said property contains 4.295 acres, more or less.
The above described property is the same property conveyed by Limited Warranty Deed dated December 7, 2007, from CCR Properties, LLC to A&M Leasing Company, LLC, recorded in Deed Book 48485, Page 833, Gwinnett County, Georgia Records.
The indebtedness secured by said Security Deeds has been and is hereby declared due and payable because of, among other possible events of default, failure to pay the indebtedness as and when due and in the manner provided in the Note. The debt remaining in default, this sale will be made for the purpose of paying the same and all expenses of this sale, as provided in the Security Deeds and by law, including attorneys fees (notice of intent to collect attorneys fees having been given as provided by law).
The property will be sold for cash or certified funds and subject to any and all matters of record superior to said Security Deeds, outstanding ad valorem taxes, any matters which might be disclosed by an accurate survey and inspection of the property, zoning ordinances, restrictions, covenants, and easements against the property, if any, and unpaid water and sewage bills that constitute liens against the property, whether due and payable or not yet due and payable. The sale will be conducted as set forth herein subject to (1) confirmation prior to the sale that the sale is not prohibited under the U.S. Bankruptcy Code and (2) final confirmation and audit prior to the sale of the status of the loan with the holder of the Security Deeds.
Grantee reserves the right to sell the property in one parcel or as an entirety, or in such parcels as Grantee may elect, as permitted in the Security Deeds.
The following information is being provided in accordance with O.C.G.A. 44-14-162.2. Pinnacle Bank, is the secured creditor under the Security Deeds and loans being foreclosed. The following entity shall have full authority to negotiate, amend, and modify all terms of the above-described Security Deeds and associated Note on behalf of the secured creditor: Pinnacle Bank, Attn: Foreclosures, P.O. Box 430, Elberton, GA 30635, (706) 425-8006. O.C.G.A. 44-14-162.2 states in pertinent part that, nothing in this subsection shall be construed to require a secured creditor to negotiate, amend, or modify the terms of a mortgage instrument.
To the best of the undersigneds knowledge and belief, the property is located at 2240 W. Park Place Blvd., Stone Mountain, Gwinnett County, Georgia 30087 and the party in possession of the property is A&M Leasing Company, LLC, or its tenant or tenants.
Pinnacle Bank, as Attorney-in-Fact for A&M Leasing Company, LLC
Thompson, OBrien, Kemp & Nasuti, P.C.
40 Technology Parkway South, Suite 300
Norcross, Georgia 30092
(770) 925-0111
This is notice that we are attempting to collect a debt and any information obtained will be used for that purpose. This communication is from a debt collector.
950-479505, 4/5,12,19,26
Back