Notice of Trustee’s Sale

NOTICE OF TRUSTEE’S SALE

Notice is hereby given by the undersigned Substitute Trustee, in accordance with the provisions of that certain Credit Line Deed of Trust made by Commercial Associates, LLC, dated April 2, 2007, record in the Office of the Clerk of the County Commission of Jefferson County, West Virginia, in Deed of Trust Book 1638, at page 247 (the “Deed of Trust”) securing a Promissory Note in the original principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00), payable to the order of Jefferson Security Bank, and all renewals, extensions, modifications and refinancing thereof (the “Note”). Jefferson Security Bank, appointed Stephen M. Mathias to serve as Substitute Trustee, by a Substitution of Trustee dated May 7, 2015, of record in the said Clerk’s office in Book 1157, at page 160. Commercial Associates, LLC has defaulted under the terms of the Deed of Trust and the Note, and as requested by Jefferson Security Bank, the holder and owner of the Note secured by the Deed of Trust, the undersigned Substitute Trustee will sell at public auction on July 23, 2015, at 11:00 a.m. at the front door of the Jefferson County Courthouse, 100 E Washington St., Charles Town, West Virginia, 25414 the following described real property located in the City of Charles Town, Jefferson County, West Virginia, and more particularly described as follows:

All that certain parcel of real estate, with improvements thereon, situate in the Charles Town Corporation, Jefferson County, West Virginia, and more particularly bounded and described as follows:

TRACT ONE: Being all of 4.831 Acres, more or less, designated as “Parcel 3” on that certain plat of survey dated April 25, 1996, prepared by Appalachian Surveys, Inc., and signed by R. Michael Shepp, P.S., entitled “Plat of Survey showing a Merger Parcel for Langdon Property”, which plat is recorded in the Office of the Clerk of the County Commission of Jefferson County, West Virginia, in Deed Book 847, at Page 186, to which plat reference is made for a more particular description.

TRACT TWO: Being all of 2.771 Acres, more or less, designated as “Parcel 2” on that certain plat of survey dated April 25, 1996, prepared by Appalachian Surveys, Inc., and signed by R. Michael Shepp, P.S., entitled “Plat of Survey showing a Merger Parcel for Langdon Property”, which plat is recorded in the Office of the Clerk of the County Commission of Jefferson County, West Virginia, in Deed Book 847, at Page 186, to which plat reference is made for a more particular description.

TRACT THREE: Being all of 0.571 Acres, more or less, designated as “Parcel 4” on that certain plat of survey dated April 25, 1996, prepared by Appalachian Surveys, Inc., and signed by R. Michael Shepp, P.S., entitled “Plat of Survey showing a Merger Parcel for Langdon Property”, which plat is recorded in the Office of the Clerk of the County Commission of Jefferson County, West Virginia, in Deed Book 847, at Page 186, to which plat reference is made for a more particular description.

The Real Property or its address is commonly known as corner of Country Rt 115 & S. Samuel, Charles Town, WV 25414, Jefferson County, West Virginia.

Less and excepting the following out conveyances:

1. Lots 22 and 23 of The Village at Samuel Station conveyed to Marcus Enterprises LLC by deed dated September 28, 2007, recorded in Deed Book 1042, page 27.

2. Lots 1, 4, 5, 20 and 21 of The Village at Samuel Station conveyed to Jefferson Building Group, LLC by deed dated February 27, 2014, recorded in Deed Book 1137, page 298.

3. Lots 3 and 7 of The Village at Samuel Station conveyed to Jefferson Building Group, LLC by deed dated July 10, 2014, recorded in Deed Book 1143, page 346.

The above referenced real estate consists of Lots 2, 6, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 24, 25, Commercial lot, Open Space Parcel 1, Open Space Parcel 2 and SWM Area as shown on that “Replat of The Village at Samuel Station,” recorded in the Office of the Clerk of the County Commission of Jefferson County, West Virginia in Plat Book 25, at Slide 426.

TERMS OF SALE

Said property will be sold by auction to the highest bidder under the following terms of sale: one third of the purchase money cash in hand on date of sale; one third thereof, with interest in one year; and the residue thereof, with interest in two years from the date of sale; and legal title shall be retained as further security for the said payments. The sale shall be further subject to the following:

1. Real estate taxes delinquent, due or payable, or to become due and payable;

2. Any statutory lien or liens that may affect the property; and

3. All covenants, conditions, restrictions, reservations, easements and rights-of-way of record in the chain of title to the property, or which may be visible from a physical inspection.

4. Federal Tax Lien: 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.

5. No warranty of title, expressed or implied, by the Substitute Trustee will be made to the successful bidder / purchaser.

6. The purchaser shall be responsible for recording fees for the Substitute Trustee’s Deed and Report of Sale, and the West Virginia Excise Tax on the Privilege of Transferring Real Property.

7. The trustee reserves the right to offer the property described above as a whole and to contingently accept the highest bid thereon. Thereafter, bids will be taken separately and contingently accepted on the above described parcels separately and/or in combination with each other. After the offering of said property as hereinabove provided, the bid or bids submitted may be accepted in a manner that will result in the highest total price for all of such property sold.

Said property 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 or implied.

The undersigned Trustee expressly reserves the right to reject any and all bids and may adjourn the sale from time to time without notice other than oral proclamation at the time and place appointed for the sale or by posting of a notice of same. Such adjournment may be for a period of time deemed expedient by the beneficial owner and shall not be construed to be a waiver to make said foreclosure.

Any inquiries regarding this sale may be directed to Stephen M. Mathias, Substitute Trustee, 101 S. Queen Street, Martinsburg, West Virginia, 25401, Telephone: (304) 263-0836.

DATED this day of June, 2015.


Stephen M. Mathias, Substitute Trustee