NOTICE OF TRUSTEE’S SALE
Notice is hereby given by the undersigned Successor Trustees, in accordance with the provisions of that certain Deed of Trust, dated November 24, 2010, made by Michael B. Cochran and Natalie P. Cochran, delivered to Gary R. Mills and Stephen M. Feola, as Trustees, of record in the Office of the Clerk of the County Commission of Raleigh County, West Virginia, in Trust Deed Book 5041, page 7911 (the “Deed of Trust”), to secure indebtedness described therein payable to First Community Bank, N.A., in the amount of $308,750.00 as evidenced by that certain Promissory Note, dated November 24, 2010, made payable by Michael B. Cochran and Natalie P. Cochran to the order of First Community Bank, N.A., (along with any renewals, adjustments, extensions, or modifications, the “Note”), which Deed of Trust covers certain real estate situate in Raleigh County, West Virginia, more particularly described herein;
WHEREAS, First Community Bank, successor to First Community Bank, N.A., is the owner and holder of the Note and Deed of Trust. Pursuant to authority granted in the Deed of Trust, First Community Bank appointed Zachary J. Rosencrance, a of Kanawha County, West Virginia, to serve as Successor Trustee, by that certain Appointment of Successor Trustee, dated November 16, 2023, of record in the aforesaid Clerk’s Office in Trustee Appointment Book 5081, at page 6857.
First Community Bank, the owner and holder of the Note secured by the Deed of Trust, has notified the Successor Trustees that Michael B. Cochran and Natalie P. Cochran are in default under the terms of the Note and the terms of the Deed of Trust, and have requested, in writing, that the Successor Trustee sell the real property described in the Deed of Trust at public auction, in accordance with the terms of the Deed of Trust and applicable law.
TAKE NOTICE that the undersigned Successor Trustee will offer for sale at public auction on the 19th day of December, 2023, at 12:00 p.m., prevailing Eastern time, at the front door of the Raleigh County Courthouse, 215 Main Street, Beckley, West Virginia 25801, the following described certain tract of land, situate in Shady Spring District, Raleigh County, West Virginia, and being more particularly bounded and described as follows:
Beginning at a rebar (found), along the right of way of West Virginia County Route No. 19/15, being the common corner of the Wilson tract of land (MR66-PG557), and Lot A of the Lester Addition; thence leaving the said road and with the boundary line of Lester Addition: N 25 29’ 00” W 561.42’ to a corner post (found), being a corner of the David C. & Joyce P. Shamblin (726-430) part of Lot No. 3 of the Lester Addition; thence with the boundary line of the said Shamblin parcel of land; N 73 36’ 22” E 306.72’ to a corner post (found), a corner of the said Wilson tract of land at a 40’ right of; thence with five (5) new lines through the Eric o. & Susan K. Wilson tract of land; S 21 40’ 10”, E 356.95’ to a fence post, a new corner, thence; S 64 24’ 43” E 38.62’ to a fence post, a new corner, thence; S 69 45’ 04” E 71.95 to a fence post, anew corner, thence; S 55 47’ 01” F 55.73’ to a fence post, a new corner, thence; S 47 35’ 33” E 40.49’ to a rebar (set), a new corner, at the right of way of West Virginia County Route No. 19/15; thence with the right of way of West Virginia County Route No. 19/15; 5 66 01’ 00” W 397.09’ to the point of beginning, containing 3.83 1 acres, more or less. Said Parcel “A” being more particularly shown on that certain map entitled “Map Showing the Partition of the Property of Eric o. Wilson and Susan K. Wilson Being Parcels “A” & “B”, Containing 5.983 Acres, Located Along WV County Route No. 19/15, at Daniels, Shady Spring District-Raleigh County-West Virginia, Scale: 1”-50” dated August 21, 2001, prepared by Roy Shrewsbury, II, WV PS #676SU, ESI, Inc. 119 Appalachian Drive, Beckley, WV 25801, a copy of which is recorded in Map Book 5005, page 3996.
And being all of the same property conveyed unto Michael B. Cochran and Natalie P. Cochran, as joint tenants with rights of survivorship, herein by deed dated the 13th day of April, 2006, which deed is recorded in the Office of the Clerk of the County Commission of Raleigh County, West Virginia, in Book 5021, at page 9018. Pursuant to the Appraisement filed in the Estate of Michael Cochran, deceased (also known as Michael B. Cochran), filed in Raleigh County, West Virginia, Mr. Michael Cochran passed away February 11, 2019, thereby vesting title in the name of Natalie P. Cochran.
The above-described land is hereinafter referred to as the “Real Property.”
TERMS OF SALE
The Real Property will be sold for cash in hand on the date of sale, or under any different, other, or additional sale terms as the Successor Trustee, in his or her reasonable discretion, determines to be appropriate or advisable. The sale shall be further subject to the following:
1. Real estate taxes delinquent, due or payable or to become due and payable, all of which shall be the responsibility of the purchaser;
2. Any statutory lien or liens that may affect the Real Property;
3. All covenants, conditions, restrictions, reservations, easements and rights-of-way appearing of record in the chain of title to the property, or which may be visible from a physical inspection of the Real Property;
4. All liens and encumbrances of any nature whatsoever, including, without limitation, liens for real estate taxes, incinerator, sanitary and sewer charges, having priority over the deeds of trust referred to herein.
5. The purchaser at the sale shall be responsible for paying the costs of recording the Successor Trustee’s Deed and the tax imposed by the State of West Virginia on the privilege of transferring Real Property (the cost of the tax stamps to be affixed to the Deed).
6. All of the property to be sold will be sold “AS IS, WHERE IS” in the present condition and with all faults and defects, if any, and without any warranty or representation, express of implied. The Successor Trustee shall be under no duty to cause any existing tenant or person occupying the Real Property to vacate said property. The Successor Trustee will deliver a trustee’s deed to the purchaser without any covenant or warranty (express or implied) in the form prescribed by W. Va. Code § 38-1-6. The Successor Trustee makes no representations and warranties about the title to the real estate to be conveyed. If the Successor Trustee is unable to convey insurable or marketable title to the purchaser for any reason, purchaser’s sole remedy is return of deposit.
7. In the event that there are federal tax liens against the property, the United States would have the right to redeem the property within a period of 120 days from the date of such sale or the period allowable for redemption under local law, whichever is longer.
8. The undersigned Successor Trustee expressly reserve the right to reject any and all bids, and the right to adjourn the sale from time to time without notice other than oral proclamation at the time and place appointed for the sale. Such adjournment may be for a period of time deemed expedient by the beneficial owner and shall not be construed to be a waiver of the right to make the sale contemplated by this Notice.
9. The beneficiary of the Deeds of Trust and holder of the Note thereby secured reserves the right to submit a bid for the Real Property at the sale, which bid may be in the form of a credit bid.
10. The successful bidder will be required to execute a memorandum of sale upon the acceptance of the successful bid by the Successor Trustee.
11. The sale is subject to post-sale confirmation that none of the grantors filed for bankruptcy protection before the conclusion of bidding, in which case the sale will be null and void and the purchaser’s sole remedy, at law or in equity, will be return of deposit without interest.
12. The trustee’s sale shall be open to online bidders.
13. A 10% buyer’s premium will be added to the high bid for the Real Property. The high bidder shall pay the buyer’s premium plus an additional 10% of its bid on the day of the sale (the “Good Faith Deposit”), with the balance to be paid in cash at closing within 14 days after the date of sale.
Additional terms of sale may be announced prior to the sale.
Any inquiries regarding this sale may be directed to Zachary J. Rosencrance, Successor Trustee, 600 Quarrier Street, Charleston, West Virginia 25301, telephone (304) 347 1100.
DATED: November 17, 2023.
/s/ Zachary J. Rosencrance
Zachary J. Rosencrance, Successor Trustee
ID: 755363