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 821, Page 133, Fannin County, Georgia records (the "Security Deed #1"), said Security Deed #1 being executed by WATERLILY ENTERPRISES, INC., a Georgia corporation ("Waterlily") 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 66, aforesaid records, (ii) that certain Georgia Security Deed and Security Agreement dated November 28, 2007 and recorded in Deed Book 824, Page 144, Fannin County, Georgia records ("Security Deed #2"), said Security Deed #2 being executed by Waterlily 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 66, aforesaid records, (iii) that certain Georgia Security Deed and Security Agreement dated May 26, 2009 and recorded in Deed Book 892, Page 198, Fannin County, Georgia records, as modified by Modification Agreement to Georgia Security Deed and Security Agreement dated December 15, 2011 and recorded in Deed Book 996, Page 265, aforesaid records (as modified, "Security Deed #3"), said Security Deed #3 being executed by Waterlily 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 72, aforesaid records, and (iv) that certain Georgia Security Deed and Security Agreement dated December 15, 2011 and recorded in Deed Book 993, Page 471, Fannin County, Georgia records ("Security Deed #4," Security Deed #1, Security Deed #2, Security Deed #3 and Security Deed #4 are hereafter collectively referred to as the "Security Deeds"), said Security Deed #4 being executed by Waterlily 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 84, aforesaid records, the undersigned, as Attorney-in-Fact for Waterlily, 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: All that tract or parcel of land lying and being in the 8th District and 2nd Section of Fannin County, Georgia, and being a part of Land Lots 246 and 259, and being 12.00 acres of land as shown on a plat of survey prepared by Shelly J. Bishop G.R.L.S. No. 2536, dated December26,2002, and recorded in Plat Hanger C-355, page 1, in the office of the Clerk of Superior Court of Fannin County, Georgia. Reference is hereby made to said recorded plat for a more complete metes and bounds description of the property herein conveyed. The above described property is conveyed subject to any and all easements, restrictions and rights-of-way as shown on the aforementioned recorded plat or as may appear of record. TOGETHER WITH AN EASEMENT FOR INGRESS AND EGRESS over the following tract of land: All that tract or parcel of land lying and being in the 8th District, 2nd Section, Land Lot 246 of Fannin County, Georgia, containing 15.99 acres, more or less as shown on a plat of survey by Lane S. Bishop and Associates, Lane S. Bishop, G.R.L.S. No. 1575, and Shelly J. Bishop, G.R.L.S. No. 2536, dated August 16, 1996, and recorded in Fannin County Records in Plat Hanger C-354, Page 8. Said plat is incorporated herein, by reference hereto, for a full and complete description of the above described property. 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, among other things, all indebtedness incurred by Waterlily and payable to BB&T, its successors and assigns. Security Deed #2 was given to secure, among other things, that certain Guaranty Agreement dated November 28, 2007 ("Guaranty #1") executed by Waterlily to guarantee indebtedness of Nature's Purest Spring Water, Inc. ("NPSW") owed to BB&T and its successors and assigns, including but not limited to that certain Promissory Note dated November 28, 2007 in the original principal amount of TWO HUNDRED TWENTY THOUSAND AND NO/100 DOLLARS ($220,000.00) made by NPSW to BB&T, as modified by Note Modification Agreements dated January 26, 2009, May 26, 2009, June 18, 2010, October 26, 2010, December 10, 2010, March 23, 2011, June 29, 2011 and December 15, 2011 (as modified, the "NPSW Note #1"), the aforesaid NPSW Note #1 and Guaranty #1 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. Security Deed #3 was given to secure, among other things, that certain Guaranty Agreement dated January 26, 2009 ("Guaranty #2") executed by Waterlily to guarantee indebtedness of NPSW owed to BB&T and its successors and assigns, including but not limited to that certain Promissory Note dated May 23, 2008 in the original principal amount of TWO HUNDRED THIRTY-THREE THOUSAND AND NO/100 DOLLARS ($233,000.00) made by NPSW to BB&T (the "NPSW Note #2), the aforesaid NPSW Note #2 and Guaranty #2 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, and that certain Guaranty Agreement dated December 15, 2011 ("Guaranty #3") executed by Waterlily to guarantee indebtedness of NPSW owed to BB&T, it successors and assigns, including but not limited to that certain Promissory Note dated December 15, 2011 in the original principal amount of TWO HUNDRED SIX THOUSAND SIX HUNDRED FIFTY-SEVEN AND 88/100 DOLLARS ($206,657.88) made by NPSW to BB&T, its successors and assigns, as modified by Note Modification Agreement dated July 3, 2009 executed by NPSW (as modified, the "NPSW Note #3"), the aforesaid NPSW Note #3 and Guaranty #3 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. Security Deed #4 was given to secure (a) that certain Guaranty Agreement dated December 15, 2011 ("Guaranty C") executed by Waterlily to guarantee indebtedness of Trilogy Enterprises, Inc. ("Trilogy") owed to BB&T and its successors and assigns, including but not limited to that certain Promissory Note dated December 15, 2011 in the original principal amount of THREE HUNDRED FORTY-FIVE THOUSAND ONE HUNDRED TWENTY-THREE AND 56/100 DOLLARS ($345,123.56) made by Trilogy to BB&T, the aforesaid Note and Guaranty C 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 (b) that certain Guaranty Agreement dated November 28, 2007 ("Guaranty A") executed by Waterlily to guarantee indebtedness of Trilogy owed to BB&T, its successors and assigns, including but not limited to 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 Trilogy to BB&T, the aforesaid Note and Guaranty A 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 (c) that certain Guaranty Agreement dated August 19, 2009 ("Guaranty B") executed by Waterlily to guarantee indebtedness of Trilogy owed to BB&T, its successors and assigns, including but not limited to that certain Promissory Note dated August 19, 2009 in the original principal amount of THREE HUNDRED EIGHTEEN THOUSAND SEVEN HUNDRED FIFTY AND NO/100 DOLLARS ($318,750.00) made by Trilogy to BB&T, the aforesaid Note and Guaranty B 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, The notes identified in the foregoing subparagraphs (a), (b) and (c), NPSW Note #1, NPSW Note #2 and NPSW Note #3 are hereinafter collectively referred to as the "Notes." Guaranty #1, Guaranty #2, Guaranty #3, Guaranty A, Guaranty B and Guaranty C are hereinafter collectively referred to as the "Guaranty Agreements." The indebtedness evidenced by the Guaranty Agreements and secured by the Security Deeds includes interest thereon as provided in the Notes until paid. The Security Deeds also secure any and all other indebtedness, whether direct or indirect, owing by Waterlily to Lender. On account of defaults in the terms of the Guaranty Agreements, the Notes, the Security Deeds and other loan documents, including Waterlily's failure to pay the indebtedness 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 debt 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 Notes, the Guaranty Agreements and other loan documents. Notice has been also given, in writing and by certified mail or statutory overnight delivery, return receipt requested, to Waterlily, 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 Notes and the Guaranty Agreements 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 said 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 Nature's Purest Spring Water, Inc., and the party in possession of the Property is Nature's Purest Spring Water, Inc., and/or tenants claiming under Nature's Purest Spring Water, Inc. LSCG FUND 31, LLC, as Attorney-in-Fact for WATERLILY 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 #338475
Back