Notice Content
NOTICE OF SALE
UNDER POWER
GEORGIA,
GWINNETT COUNTY
Because of default in the payment of the indebtedness, in the original principal amount of $325,000.00, secured by that certain Security Deed from DANPASS, LTD. to BRANCH BANKING AND TRUST COMPANY, successor in interest to Colonial Bank by asset acquisition from the Federal Deposit Insurance Corporation as Receiver for Colonial Bank, dated July 13, 2004, said deed recorded on July 20, 2004 in Deed Book 39145, Page 276, records of the Superior Court of Gwinnett County, Georgia, as modified by that certain Modification of Deed to Secure Debt and Security Agreement and Assignment of Leases and Rents dated June 23, 2005; filed for record July 19, 2005, in Deed Book 43604, Page 33 (Security Deed), as affected by that certain Assignment of Security Instruments and Other Loan Documents from the Federal Deposit Insurance Corporation in its capacity as Receiver for Colonial Bank to Branch Banking and Trust Company (BB&T), recorded in the Superior Court of Gwinnett County, Georgia, in Deed Book 49772, Page 521, on October 28, 2009, conveying the after-described property to secure that certain Note in the original principal amount of Three Hundred Twenty-Five Thousand and No/100ths Dollars ($325,000.00), dated July 13, 2004, and all modifications thereof with the last modification and additional advance being dated June 23, 2005, in the amount of Five Hundred Thirty-Six Thousand Two Hundred Fifty and No/100ths Dollars ($536,250.00), with interest thereon as set forth therein (the Note), BB&T has declared the entire amount of said indebtedness due and payable and pursuant to the power of sale contained in said deed, will on the first Tuesday in July, 2015, during the legal hours of sale, at the Courthouse door in Gwinnett County, sell at public outcry to the highest bidder for cash, the property described in said deed to-wit:
All that tract or parcel of land lying and being in Land Lot 47 of the 5th District, Gwinnett County, Georgia, containing 0.617 acres (being 26,871 square feet) including according to an ALTA/ACSM boundary survey for Danpass, Ltd., Colonial Bank and Chicago Title Insurance Company dated June 9, 2004 and prepared by Hayes, James & Associates, Leroy W. James, GRLS No. 1795, and being more particularly described as follows:
Beginning at an iron pin found (one half inch rebar) at the intersection of the Westerly right-of-way line of Oakland Road (having an 80-foot right-of-way) and the Northerly right-of-way line of U.S. Highway No. 29 (having a variable width right-of-way), said point being the point of beginning; thence from the point of beginning as thus established proceed along the said Northerly right-of-way line the following three courses and distances: South 79 degrees 57 minutes 04 seconds West a distance of 47.26 feet to a point; said point being the point of curvature of a curve to the left having a radius of 623.09 feet, being subtended by a chord bearing of South 75 degrees 11 minutes 56 seconds West, a chord distance of 108.75 feet along said curve an arc distance of 108.89 feet to an iron pin found (one half inch rebar); said iron pin being the point of curvature of a curve to the left having a radius of 623.09 feet, being subtended by a chord bearing of South 64 degrees 36 minutes 23 seconds West a chord distance of 121.30 feet along said curve an arc distance of 121.50 feet to an iron pin found (one half inch rebar), said iron pin being the TRUE POINT OF BEGINNING; thence from the true point of beginning as thus established and continuing along the said Northerly right-of-way line the following two courses and distances: said iron pin being the point of curvature of a curve to the left having a radius of 623.09 feet, being subtended by a chord bearing of South 55 degrees 15 minutes 17 seconds West a chord distance of 81.84 feet along said curve an arc distance of 81.90 feet to a point; thence South 51 degrees 24 minutes 51 seconds West a distance of 43.88 feet to an iron pin found (one half inch rebar); thence departing said Northerly right-of-way North 28 degrees 51 minutes 52 seconds West a distance of 225.01 feet to a PK nail found in asphalt; thence North 61 degrees 08 minutes 08 seconds East a distance of 124.66 feet to a PK nail found in asphalt; thence South 28 degrees 51 minutes 52 seconds East a distance of 209.21 feet to an iron pin found (one half inch rebar) located on the Northerly right-of-way line of U.S. Highway No. 29, said iron pin being the TRUE POINT OF BEGINNING.
The above property also identified as Lot #2 according to the Final Plat for Shannon Oaks, LLC dated June 17, 2004 and recorded in Plat Book 104, Page 121, Gwinnett County, Georgia Records.
The sale will be held subject to any unpaid taxes, assessments, rights-of-way, easements, protective covenants or restrictions, liens, and other superior matters of record which may affect said property.
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 confirmation and audit of the status of the loan with the holder of the security deed.
Notice has been given of intention to collect attorneys fees in accordance with the terms of the note secured by said deed.
Said property will be sold as the property of Danpass, Ltd. and the proceeds of said sale will be applied to the payment of said indebtedness, the expense of said sale, all as provided in said deed, and the undersigned will execute a deed to the purchaser as provided in the aforementioned Security Deed.
Branch Banking and Trust Company
The Gwinnett Daily Post
To be published on June 11, 18, and 25 and July 11
Brian K. Smithweck, Esq.
Adams and Reese LLP
11 N. Water Street, Suite 23200
Mobile, AL 36602
(251) 433-3234
Attorney for Branch Banking and Trust Company
950-258696, 6/11,18,25,7/2
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