Notice Content
NOTICE OF POWER OF SALE CONTAINED IN GEORGIA SECURITY DEED AND SECURITY AGREEMENT STATE OF GEORGIA FANNIN COUNTY Under and by virtue of the power of sale contained in (i) that certain Georgia Security Deed and Security Agreement dated November 28, 2007, and recorded in Deed Book 820, Page 842, Fannin County, Georgia records, as modified by Modification Agreement to Georgia Security Deed and Security Agreement dated October 28, 2011, and recorded in Deed Book 988, Page 622, aforesaid records (as amended, "Security Deed #1"), said Security Deed #1 being executed by TRILOGY ENTERPRISES, INC., a Georgia corporation ("Borrower") in favor of BRANCH BANKING AND TRUST COMPANY, a North Carolina banking corporation ("BB&T"), as transferred and assigned by BB&T to LSCG FUND 31, LLC, a Delaware limited liability company ("Lender"), pursuant to that certain Assignment of Security Instruments dated June 11, 2015, and recorded in Deed Book 1131, Page 63, aforesaid records, and (ii) that certain Georgia Security Deed and Security Agreement dated November 28, 2007 and recorded in Deed Book 824, Page 136, Fannin County, Georgia records ("Security Deed #2"; Security Deed #1 and Security Deed #2 are hereinafter collectively referred to as the "Security Deeds"), said Security Deed #2 being executed by Borrower in favor of BB&T, as transferred and assigned by BB&T to Lender pursuant to that certain Assignment of Security Instruments dated June 11, 2015, and recorded in Deed Book 1131, Page 69, aforesaid records, the undersigned, as Attorney-in-Fact for Borrower, will sell at public outcry to the highest and best bidder for cash, between the legal hours of sale before the Courthouse door of Fannin County, Georgia, on the first Tuesday in June, 2017 (June 6, 2017), the following described property (the "Property"), to wit: TRACT ONE: All that tract or parcel of land lying and being in the 9th District and 2nd Section of Fannin County, Georgia, and being part of Land Lot Nos. 157, 158, 167 and 168, and being designated as Lots 38 and 39 of Woodland Subdivisions, Phase II, consisting of 9.04 acres, as shown on that certain plat of survey prepared by Franklin D. Russell, G.R.L.S. No. 1802, recorded in Plat Book17, page 83, Fannin County Deed Records. Reference is hereby made to said recorded plat of survey for the purpose of incorporating same herein and for a more complete metes and bounds description of the property herein described. TRACT TWO: All that tract or parcel of land lying and being in the 9th District and 2nd Section of Fannin County, Georgia, and being a part of Land Lot No. 167, and being 9.0 acres, more or less, as shown on that certain plat of survey dated April 18, 1995, by Lane S. Bishop, G.R.L.S. No.1575, and Shelly J. Bishop, G.R.L.S. No. 2536, said plat being recorded in Plat Hanger A249, page 6, Fannin County Deed Records. Said recorded plat is incorporated herein by reference thereto for a more complete and accurate description of the property herein described. TRACT THREE: All that tract or parcel of land lying and being in the 9th District and 2nd Section of Fannin County, Georgia, and being a part of Land Lot Nos. 167 and 168 and being more particularly described as 46.11 acres of land, more or less, as shown on plat of survey dated May 13, 1998, prepared by Lane S. Bishop, G.R.L.S. No. 1575, said plat being recorded in Plat Hanger A-415, page 8, Fannin County Deed Records. Said recorded plat is hereby made a part of this deed by reference thereto for a more complete description of the property herein described. Mineral interest is excepted in the 15 acres of Land Lot No. 168. TRACT FOUR: All that tract or parcel of land lying and being in Land Lots 158 and 167, of the 9th District and 2nd Section of Fannin County, Georgia, containing 11.03 acres of land, and listed as #5, per plat prepared by Lane S. Bishop, G.R.L.S. No. 1575, dated September 15, 1983, and recorded in Plat Hanger A-46, page 8, Fannin County Deed Records. Said recorded plat is incorporated herein by reference thereto for a more complete and accurate description of the property herein described. TRACT FIVE: All that tract or parcel of land lying and being in part of Land Lot No. 167 of the 9th District and 2nd Section of Fannin County, Georgia, and being more particularly described as 12.78 acres of land as shown on a plat of survey prepared for Troy R. Patterson by Lane S. Bishop, G.R.L.S. No. 1575, dated December 16, 1999, and is recorded in Plat Hanger A-563, page 5, Fannin County Deed Records. Reference is hereby made to said recorded plat for the purpose of incorporating same herein. TOGETHER WITH all appurtenant rights, improvements, fixtures, machinery, equipment, personalty and other personal property located on or used in connection with the aforesaid property. Security Deed #1 was given to secure that certain Promissory Note dated November 28, 2007 in the original principal amount of ONE MILLION THREE HUNDRED FIFTY THOUSAND AND NO/100 DOLLARS ($1,350,000.00) made by Borrower to BB&T, as modified by Note Modification Agreements dated May 23, 2008, August 29, 2008, December 10, 2010, March 23, 2011, June 29, 2011 and October 28, 2011 (as modified, the "Note"), as transferred and assigned by BB&T to Lender pursuant to, among other things, that certain Bill of Sale and Assignment of Loan Documents dated June 11, 2015, together with interest as provided in the Note until paid, together with any and all other indebtedness, whether direct or indirect, owing by Borrower to Lender. Security Deed #2 was given to secure that certain Guaranty Agreement dated November 28, 2007 (the "Guaranty") executed by Borrower to guarantee indebtedness of Nature's Purest Spring Water, Inc. owed to BB&T and its successors and assigns, the indebtedness and the Guaranty being transferred and assigned by BB&T to Lender pursuant to, among other things, that certain Bill of Sale and Assignment of Loan Documents dated June 11, 2015, together with any and all other indebtedness, whether direct or indirect, owing by Borrower to Lender. On account of defaults in the terms of the Note, the Guaranty, the Security Deeds and other loan documents, including Borrower's failure to pay the indebtedness evidenced by the Note and by the Guaranty in full at maturity, the entire unpaid principal balance of all obligations secured by the Security Deeds, including interest to date of sale, is due and payable immediately. The indebtedness remaining in default and unpaid, this sale will be for the purpose of satisfying the principal and interest due, amounts, if any, expended by Lender to protect its interest in the Property, and all expenses of this sale, including, without limitation, attorneys' fees. Notice has been given of intention to collect attorneys' fees in accordance with the terms of the Note, the Guaranty and other loan documents. Notice has been also given, in writing and by certified mail or statutory overnight delivery, return receipt requested, to the Borrower, of the name, address, and telephone number of the individual or entity who shall have full authority to negotiate, amend, and modify all terms of the Security Deeds, the Note and the Guaranty in accordance with O.C.G.A. Section 44-14-162.2(a), together with a copy of this Notice of Power of Sale in accordance with O.C.G.A. Section 44-14-162.2(b). The Property will be sold subject to outstanding ad valorem taxes and/or assessments, all zoning ordinances, matters of which would be disclosed by an accurate survey or inspection of the Property, outstanding bills for utilities, easements, restrictions and rights-of-way and any other matters of record superior to the Security Deeds, if any. The undersigned will execute a deed to the purchaser at the sale as provided in the Security Deeds. To the best knowledge and belief of Lender, the equitable title to the Property is vested in Borrower, and the party in possession of the Property is Borrower, and/or tenants claiming under Borrower. LSCG FUND 31, LLC, as Attorney-in-Fact for TRILOGY ENTERPRISES, INC., a Georgia corporation Carolyn Saffold Wilson, Attorney at Law Womble, Carlyle, Sandridge & Rice, LLP 271 17th Street, N.W., Suite 2400 Atlanta, Georgia 30363 (404) 888-7487 May 10-31 #338454
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