The Newnan Times-Herald 

Publication Name:
The Newnan Times-Herald

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Publication City and State:
Newnan, GA

Publication County:
Coweta

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Notice Authentication Number:
201507020423200109590
3220054595

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Notice Publish Date:
Thursday, July 02, 2015

Notice Content

CLASS:007 NOTICE OF SALE UNDER POWER IN SECURITY DEED STATE OF GEORGIA COUNTY OF COWETA Under and by virtue of the power of sale contained in that certain Deed to Secure Debt from Tammy M. Hughes (“Grantor”) in favor of Gwinnett Banking Company, dated March 23, 2006 and recorded in Deed Book 2939, Page 379 in the offices of the Clerk of the Superior Court of Coweta County, Georgia, as subsequently assigned to VPV 17 Augusta, LLC by Fifth Third Bank, as successor by merger to First Charter Bank, a North Carolina banking corporation, as successor by merger to Gwinnett Banking Company, a Georgia banking corporation, by that certain Assignment of Security Instruments and Other Documents recorded in Deed Book 4217, Page 180, aforesaid records, (as modified and/or amended from time to time, the “Security Deed”), the undersigned will sell at public outcry before the door of the Courthouse of Coweta 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, to wit: All that tract or parcel of land lying and being in Land Lot 25 of the 5th District, Coweta County, Georgia, being 4.75 acres, as shown by Plat of Survey by Campbell, Steele & Associates, dated April 26, 1995, and recorded at Plat Book 60, Page 28, Coweta County, Georgia records, said plat being incorporated herein by reference. TO HAVE AND TO HOLD all the aforesaid property, property rights, contract rights, equipment, and claims (all of which are collectively referred to herein as the “Premises”) to the use, benefit and behoof of the Grantee, forever, in FEE SIMPLE. The debt secured by the Security Deed is evidenced by a Promissory Note dated March 23, 2006 from Multec Industrial Packaging, Inc. and Tammy M. Hughes to Gwinnett Banking Company in the original principal amount of $800,000.00 (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. VPV 17 Augusta, LLC 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 Tammy M. Hughes. To the best of the undersigned's knowledge and belief, the parties in possession of the Premises are Tammy M. Hughes and tenants holding under Tammy M. Hughes. VPV 17 Augusta, LLC, assignee of Fifth Third Bank, as successor by merger to First Charter Bank, as successor by merger to Gwinnett Banking Company, as Attorney-in-Fact for Tammy M. Hughes. Walter E. Jones, Esq. Balch and Bingham, LLP 30 Ivan Allen Jr. Blvd., NW Suite 700 Atlanta, Georgia 30308-3036 (404) 962-3540 THIS LAW FIRM IS ATTEMPTING TO COLLECT A DEBT, AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. No.62379-6-11-18-25&7-2