NOTICE OF SUBSTITUTE TRUSTEE’S SALE OF
REAL PROPERTY
NOTICE IS HEREBY GIVEN that by virtue of that certain Credit Line Deed of Trust dated September 11, 2007, and executed by Sampy D. Bailey, Jr., to Mike Day and William S. Winfrey, II, Trustee(s), which is recorded in the Office of the Clerk of the County Commission of Greenbrier County, West Virginia, in Trust Deed Book 616, at Page 25, as Instrument No. 47369 (the “Deed of Trust”), securing MCNB Bank and Trust Co. for repayment in the original principal amount of 20,000.00, as evidenced by a Promissory Note of even date therewith, as modified by that certain Modification Agreement – Deed of Trust, dated August 4, 2017, and recorded in the aforesaid Clerk’s Office in Trust Deed Book 783, at Page 509, as Instrument No. 253533, and default having been made in the payment of said indebtedness, and the holder of said Promissory Note having declared the whole thereof to be due and payable and, whereas, pursuant to the provisions of the Deed of Trust, as modified, MCNB Bank and Trust Co., as the beneficiary of the indebtedness secured thereby, may, for any reason, designate and appoint one or more substitute Trustee(s), in the place and stead of the original Trustee(s) named therein and, whereas, MCNB Bank and Trust Co., did previously name, constitute, designate, and appoint Jeffry A. Pritt, as Substitute Trustee, under the Deed of Trust, as modified, and, whereas, MCNB Bank and Trust Co., as the holder of the aforesaid Promissory Note (the “Noteholder”), having declared the whole thereof to be due and payable, and having requested the undersigned, in writing, to make sale of the real estate described in the Deed of Trust, as modified, the undersigned Substitute Trustee will, therefore, on
TUESDAY, NOVEMBER 26, 2019, at 12:00 NOON
offer for sale and sell at public auction at the front door of the Greenbrier County Courthouse, Lewisburg, West Virginia, all the following described real estate, together with the buildings and improvements located thereon, and the rights-of-way, easements and appurtenances thereunto belonging, situate, lying and being in ANTHONY CREEK DISTRICT, COUNTY OF GREENBRIER, STATE OF WEST VIRGINIA (the “Real Property”), and being more particularly bounded and described as follows:
BEGINNING at a point on the northeast side of the United States Government Road or right-of-way through the Robert W. Trainor property about 2 miles above Neola, said point being located, S 73-18 W 120 feet from comer #66 on Tract 393; thence leaving road and down branch through Trainer, N 18-30 W 230 feet to a white pine near branch; thence, N 32 W 213 feet to a white pine by branch; thence crossing branch, N 64 W 133 feet to a point 20 feet from center of government road to a point at a culvert; thence with road and 20 feet from center thereof, S 32-35 E 298.7 feet to a point by road; thence, S 42-09 E 119.68 feet to the place of BEGINNING, containing 3/4 acre, more or less.
And being the same property conveyed to Shirley Bailey, by Brian Lee Bailey, by Deed dated April 7, 2003, of record in the Office of the Clerk of the County Commission of Greenbrier County, West Virginia, in Deed Book 480, at Page 761. Shirley J. Bailey died February 6, 2006, in Mercer County, West Virginia, and by intestate succession, her interest in this property passed to Sampy D. Bailey, Jr. At the time of the execution of the Modification Agreement – Deed of Trust, this property was reported to have an address of: 323 Knapp Hollow Rd, White Sulphur Springs, WV 24986.
TERMS OF SALE:
1. Ten percent (10{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}) of the sales price cash in hand on the day of sale in the form of cash, or a certified check or cashier’s check made payable to Pritt Law Firm, PLLC (the “Good Faith Deposit”), with the balance to be paid at closing within 30 days after the date of sale.
2. The Real Property shall be sold “AS IS” and “WITH ALL FAULTS” and subject to any and all matters as may be disclosed by an examination and inspection. Neither the Substitute Trustee, the Noteholder, nor their respective agents, successors, and assigns, make any representations or warranties with respect to the Real Property, including, without limitation, representations or warranties as to the structural integrity, physical condition, construction, workmanship, materials, habitability, fitness for a particular purpose or merchantability of all or any part of the Real Property. Without limiting the generality of the foregoing, the Real Property will be sold without representation or warranty as to the environmental condition of the Real Property or the compliance of the Real Property with federal, state, or local laws and regulations concerning the purchase or disposal of hazardous substances. Acceptance of the deed to the Real Property shall constitute a waiver of any claims against the Substitute Trustee, the Noteholder, and their respective agents, successors, and assigns, concerning the environmental condition of the Real Property, including, but not limited to, claims arising under the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, and/or state or local law, ordinances or regulations.
3. The Real Property will be sold subject to all prior liens senior in priority to the Deed of Trust, as modified, all unpaid real property taxes or assessments, personal property taxes or assessments, encumbrances and claims in favor of public service districts/municipal sanitary boards, if any, and also further subject to any and all other matters, assessments, covenants, restrictions, conditions, reservations, rights of way and easements recorded in the aforesaid Clerk’s office prior to the Deed of Trust, as modified, and affecting the Real Property.
4. Settlement shall be by cashier’s check or wire transfer of immediately available federal funds, and shall occur within thirty (30) days from date of sale, TIME BEING OF THE ESSENCE.
5. Settlement shall occur in the offices of the Substitute Trustee. The Substitute Trustee reserves the right to extend the date of settlement as may be necessary to complete arrangements for settlement.
6. The Good Faith Deposit, without interest, shall be applied to the credit of the foreclosure purchaser at settlement. If the foreclosure purchaser fails to complete settlement, the Good Faith Deposit shall be forfeited, and the Substitute Trustee may resell the Real Property at the risk and cost of the defaulting purchaser.
7. Conveyance of the Real Property shall be by delivery of a Trustee’s Deed, without any covenant or warranty (express or implied), in the form prescribed by WV Code § 38-1-6, and the foreclosure purchaser shall pay for all transfer stamps, recording fees, and other closing costs.
8. The risk of loss or damage to the Real Property shall be borne by the foreclosure purchaser from and after the bid strikedown at the time of sale.
9. The Substitute Trustee will not deliver possession of the Real Property to the foreclosure purchaser, who shall be solely responsible for obtaining possession of the Real Property. The Substitute Trustee shall be under no duty to cause an existing tenant or person occupying the Real Property to vacate it, and any personal property and/or belongings remaining at the property after the foreclosure sale will be deemed to constitute ABANDONED PROPERTY AND WILL BE DISPOSED OF ACCORDINGLY.
10. At the time of sale, the foreclosure purchaser shall be required to execute a memorandum of sale (the “Memorandum of Sale”) which shall include, by reference, all the terms and conditions contained herein. The form of the Memorandum of Sale shall be available from the Substitute Trustee upon request and at sale time. Immediately upon the conveyance by the Substitute Trustee of the Real Property to the purchaser at foreclosure, all duties, liabilities and obligations of the Substitute Trustee, if any, with respect to the Real Property shall be extinguished.
11. Any sale hereunder may be adjourned from time to time without notice other than by the posting of a written notice and/or oral proclamation at the time and place appointed for the sale. The Substitute Trustee reserves the right to reject any or all bids. The Noteholder reserves the right to bid on, and purchase, the Real Property at such sale. Additional terms of sale may be announced prior to sale.
At the public foreclosure sale any person or entity may bid, and may purchase the Real Property sold if they are the highest bidder. If the Real Property is sold for an amount in excess of the outstanding balance of the secured debt, together with all interest, unpaid real estate taxes and costs, said excess must be used to satisfy any other encumbrances on the Real Property and after all such encumbrances are satisfied, together with all interest and costs, any excess then remaining must be paid to the Grantor, or such other party holding an encumbrance on the Real Property, under applicable law. If the Grantor or any person holding an encumbrance cannot be found after a diligent search, the money shall be paid into the Circuit Court of Greenbrier County for the benefit of the Grantor, or the holder of any such encumbrance.
In the event that there are federal tax liens against the Real Property, the United States would have the right to redeem the Real 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, and the closing date shall be extended accordingly.
Given under my hand this 1st day of November, 2019.
Jeffry A. Pritt, Substitute Trustee
Pritt Law Firm, PLLC
PO Box 708
Union, WV 24983
(304) 772-4700
[email protected]
(6,13nv)