Source: July 22, 2015 Read More →

NOTICE

010068930 July 22, 29

NOTICE OF TRUSTEE’S SALE

Notice is hereby given that default has occurred in the payment of that certain indebtedness secured by that certain Real Estate Deed of Trust dated June 27, 2013, made by and between G & P Properties, LLC, a West Virginia Limited Liability Company (the "Grantor") and Roger Metheny, in his capacity as Trustee (the "Original Trustee"), predecessor in interest to David M. Thomas (the "Trustee" or "Substitute Trustee"), to secure indebtedness in the principal sum of $457,500.00, plus interest, fees and other applicable charges, recorded in the Office of the Clerk of the County Commission of Monongalia County, West Virginia, in Trust Deed Book 1951 at page 558 (the "Deed of Trust"). The Substitute Trustee was appointed in the Original Trustee’s place and stead, by instrument recorded in the aforesaid Clerk’s office. The Deed of Trust authorizes the Substitute Trustee to act in the enforcement of said Deed of Trust, and the undersigned Substitute Trustee having received a request from the beneficiary of said Deed of Trust, will sell at a public auction to the highest bidder(s), the following hereinafter described real estate, together with any buildings, structures and other improvements located thereon (the "Real Estate") on:

AUGUST 19, 2015, AT 1:15 P.M.
AT THE FRONT DOOR OF THE MONONGALIA COUNTY COURTHOUSE
MORGANTOWN, WEST VIRGINIA

REAL ESTATE DESCRIPTION:

318 Wilson Avenue

All that certain lot or parcel of real estate lying and being situate in the Second Ward of the City of Morgantown, Monongalia County, West Virginia, and being more particularly described as follows, to-wit:

BEGINNING at a point in the southeastern side of Wilson Avenue and extending back in a southerly direction along the eastern line of Lot No. 2 in Block No. 7 of the lands of the Morgantown Bridge and Improvement Company, known as South Park, for a distance of 75 feet, a corner to Lot No. 5 of said Block; and running thence along Lot No. 5 in an easterly direction to Ash Street, a distance of 65 feet; thence along the western line of said Ash Street in a northerly direction for a distance of 58.9 feet; thence along the southern line of Wilson Avenue for a distance of 66.7 feet to the point of beginning; being Lot No. 1 in Block 7, as laid down on the official sale map of the lands of Morgantown Bridge and Improvement Company, known as South Park, a copy of which said map is duly recorded in the Office of the Clerk of the County Commission of Monongalia County, West Virginia, in Deed Book No. 142, at Page 464, to which plat reference is here made for all pertinent purposes; a plat of said lot showing the improvements thereon being also recorded in the aforesaid County Clerk’s Office in Deed Book No. 371, at Page 264.

Being all the same lands conveyed to the Grantor(s) herein by deed dated the 3rd day of January, 2009, of record in the Office of the Clerk of the County Commission of Monongalia County, West Virginia, in Deed Book 1379, at Page 746.

This conveyance is made subject to any and all existing reservations, restrictions, rights-of-way and conditions as are contained in the chain of title to said property.

TERMS OF SALE:
Sale of the Real Estate will be made by the Trustee by public auction to the highest bidder. The Real Estate shall be sold by the Trustee in the manner he determines, in his sole discretion, whether it be in one or several lots or parcels. The Trustee reserves the right to reject any bid that in his opinion is inadequate. The highest bidder(s) will be required to tender a deposit of ten percent (10{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}) of the purchase price in cash or immediately available funds by the end of the day of sale, and the remainder of the purchase price will be due within 30 days of the sale. The Trustee reserves the right to accept or reject such other terms as to payment or delivery of payment as may be agreed to by the Trustee and the bidder(s). If the successful bidder(s) fails to deliver the deposit and/or total purchase price within the prescribed time, the Trustee may proceed to resell the Real Estate, or the applicable portion thereof, pursuant to the Deed of Trust or, at the discretion of the Trustee, convey the Real Estate to the next highest bidder if such bidder will honor said bid.

The Trustee also reserves the right to continue the sale of all or any one or more of the lots or parcels of Real Estate from time to time by oral proclamation or by posting a notice of the same where legal notices are posted in Monongalia County, West Virginia, which continuation shall be in the sole discretion of the Trustee. Should the Trustee not appear at the time appointed for the sale and there is no notice posted of a continuance, please contact the office of the Trustee to make further inquiry. Please direct any inquiries or objections to the sale to the Trustee in writing at the following address: Trustee, David M. Thomas, Esq., at Dinsmore & Shohl LLP, 215 Don Knotts Boulevard, Suite 310, Morgantown, West Virginia 26501, (304) 296-1100. Any sale may be conducted or adjourned by the designated agent or attorney of the Trustee. The Trustee reserves the right to have an auctioneer call the sale of one or more of the parcels of lots to be sold. The beneficiary under the Deed of Trust or its designee may purchase the Real Estate at the sale, in whatever manner sold, and in such case, the beneficiary shall have the right to credit against the amount of the successful bid(s) made therefore all or any of the secured debt then due.

Conveyance will be made by Trustee’s Deed subject to any and all effective and enforceable exceptions, reservations, conditions, covenants, restrictions, limitations, assessments, easements, rights of way, mineral severances and other encumbrances as have been created with respect to and/or imposed upon said Real Estate by the Grantor or its predecessors in interest in title prior to the recording of the Deed of Trust in the aforesaid Clerk’s office or which may otherwise survive the foreclosure sale under applicable law. Every lot or parcel of the Real Estate, and any improvements located thereon, are sold in "AS IS" condition. The Trustee does not make any representations or warranties as to the physical condition of the Real Estate. Prospective purchasers are responsible for inspecting the title to the Real Estate prior to the Trustee’s Sale. Any and all legal procedural requirements to obtain physical possession of the Real Estate after the sale are the responsibility of the purchaser(s). Risk of loss or damage will be the purchaser’s from and after the foreclosure sale. All outstanding taxes, assessments and utility charges will be the responsibility of the purchaser(s). All settlement fees, costs of conveyance, examination of title and recording charges shall be at the expense of the purchaser(s). Trustee makes no representations regarding the state of title to the Real Estate. Purchaser(s) shall bear the responsibility and risk of any inspection of the lots or parcels comprising the Real Estate, and shall take title to the Real Estate subject to any existing leases, land contracts, or other agreements recorded and unrecorded affecting the Real Estate. If the Trustee cannot convey title to one or more lots or parcels, purchaser’s sole remedy is the return of the purchase money paid by the purchaser(s) for the purchase of any such lots or parcels. The purchaser(s) shall be responsible for the payment of the transfer taxes imposed by Article 2 of Chapter 11 of the West Virginia Code. Sale is made subject to the right of the Internal Revenue Service to redeem the Real Estate as provided by Section 7425 of the Internal Revenue Code of 1986, as amended. Additional terms and conditions shall be announced at sale.

Given under my hand this 17th day of July, 2015.

______________________________
David M. Thomas, Trustee
Dinsmore & Shohl LLP
Dinsmore & Shohl Building
215 Don Knotts Boulevard, Suite 310
Morgantown, West Virginia 26501
Telephone: (304) 296-1100
Facsimile: (304) 296-6116