Notice Content
gpn11 CN6168 NOTICE OF SALE UNDER POWER IN SECURITY DEED STATE OF GEORGIA COUNTY OF CATOOSA Under and by virtue of the power of sale contained in that certain Commercial Real Estate Deed to Secure Debt from Babb Properties, LLC ("Borrower") to First Georgia Banking Company, dated December 20, 2007, recorded in Deed Book 1415, page 153, in the offices of the Clerk of the Superior Court of Catoosa County, Georgia, as subsequently assigned to CertusBank, N.A. by that certain Assignment of Loan Documents dated February 22, 2012 and recorded in Deed Book 1607, Page 839, aforesaid records (as modified and/or amended from time to time, collectively the "Security Deed"), the undersigned will sell at public outcry before the door of the Courthouse of Catoosa County, Georgia during the legal hours of sale on the first Tuesday in July 2015 to the highest and best bidder for cash the following described property (the "Premises"), to wit: Tract 2: (32 Lamoian Drive, Catoosa County) All that tract or parcel of land lying and being in Land Lot 288 of the 11th District and 3rd Section of Catoosa County, Georgia, and being Lot 17 of Evening Sunset & Willow Subdivision, as shown by plat of said subdivision recorded in Plat Book 14, page 53, in the office of the Clerk of the Superior Court of Catoosa County, Georgia, reference to which is herein made for a more full and complete description and which is hereby incorporated by reference. Together with all easements, appurtenances, abutting streets and alleys, improvements, buildings, fixtures, tenements, hereditaments, equipment, rents, income, profits and royalties, personal goods of whatever description and all other rights and privileges including all minerals, oil, gas, water (whether groundwater, subterranean or otherwise), water rights (whether riparian, appropriate or otherwise, and whether or not appurtenant to the above-described real property), wells, well permits, ditches, ditch rights, reservoirs, reservoir rights, reservoir sites, storage rights, dams and water stock that may now, or at any time in the future, be located on and/or used in connection with the above-described real property, payment awards, amounts received from eminent domain, amounts received from any and all insurance payments, and timber which may now or later be located, situated, or affixed on and used in connection therewith. TO HAVE AND TO HOLD all the Premises to the use, benefit and behoof of Lender, its successors and assigns, IN FEE SIMPLE forever. The debt secured by the Security Deed is evidenced by a Commercial Promissory Note dated December 20, 2007 from Borrower to First Georgia Banking Company in the original principal amount of $813,620.00 (as modified, amended, restated, or replaced from time to time, the "Note"), plus interest from date on the unpaid balance until paid, and other indebtedness. CertusBank, N.A. is the present owner and holder of the Note by virtue of the assignment referenced above. Default has occurred and continues under the terms of the Note and Security Deed by reason of, among other possible events of default, the nonpayment when due of the indebtedness evidenced by the Note and secured by the Security Deed and the failure to comply with the terms and conditions of the Note and Security Deed. By reason of this default, the indebtedness evidenced by the Note has been accelerated and the Security Deed has been declared foreclosable according to its terms. 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 Deed and by law, including attorneys' fees, notice of intent to collect attorneys' fees having been given. Said property will be sold subject to any outstanding ad valorem taxes and/or assessments (including taxes which are a lien but are not yet due and payable), possible redemptive rights of the Internal Revenue Service, if any, any matters which might be disclosed by an accurate survey and inspection of the property, and any assessments, liens, encumbrances, zoning ordinances, restrictions, covenants, and matters of record superior to the Security Deed. The sale will be conducted subject (1) to confirmation that the sale is not prohibited under the U.S. Bankruptcy Code and (2) to final audit and confirmation of the status of the loan and collateral with the holder of the Security Deed. To the best of the undersigned's knowledge and belief, the Premises are presently owned by Babb Properties, LLC. To the best of the undersigned's knowledge and belief, the party in possession of the Premises is Babb Properties, LLC, and tenants holding under Babb Properties, LLC. CertusBank, N.A., successor by assignment to First Georgia Banking Company, as Attorney-in-Fact for Babb Properties, LLC. Michael R. Wing, Esq. Balch and Bingham, LLP 30 Ivan Allen Jr. Blvd., NW Suite 700 Atlanta, Georgia 30308-3036 (404) 962-3574 THIS LAW FIRM IS ATTEMPTING TO COLLECT A DEBT, AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. 6-10,17,24:7-1
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