NOTICE OF TRUSTEE’S SALE
Notice is hereby given that default has occurred in the payment of that certain indebtedness secured by a Deed of Trust dated the 29th day of June 2009, made by G P Rentals, Inc. (“Grantor”), to Philip A. Prichard, in his capacity as Trustee (the “Original Trustee”), predecessor in interest to David M. Thomas (the “Substitute Trustee”), of record in the Office of the Clerk of the County Commission of Marion County, West Virginia, in Trust Deed Book 957, at page 188 (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 in Trust Deed Book 1072, at page 618. The Deed of Trust was modified and affirmed by that certain Modification and Affirmation of Deed of Trust dated November 13, 2014 and recorded in the Office of the Clerk of the County Commission of Marion County in Trust Deed Book 1103 at page 544. The Deed of Trust authorizes the Substitute Trustee to act in the enforcement of said Deed of Trust, and the undersigned having received a request from the beneficiary of said Deed of Trust, will sell at a public auction to the highest bidder, the following hereinafter described real estate, together with any buildings, structures and other improvements located thereon (the “Real Estate”) on:
MARCH 4, 2016, AT 1:00 P.M.
AT THE FRONT DOOR OF THE MARION COUNTY COURTHOUSE,
219 ADAMS STREET, FAIRMONT, WEST VIRGINIA 26554
REAL ESTATE
DESCRIPTION:
All of those three (3) certain tracts or parcels of real estate together with any and all improvements thereon and appurtenances thereunto, situate, lying and being in Fairmont City District, Marion County, West Virginia, in the Fairmont Development Company’s Addition, a map or plat of which Addition is recorded in the Office of the Clerk of the County Commission of Marion County, West Virginia, in Deed Book No. 59, at pages “A” to “E”, as more particularly described as follows:
LOTS NOS. ELEVEN (11) AND TWELVE (12) in BLOCK NO. 26 of said Addition, these lots each fronting a distance of fifty (50) feet to Gaston Avenue and each extending back therefrom with a uniform width of fifty (50) feet, for a distance of One Hundred twenty (120) feet to an alley.
PART OF LOT NO. THIRTEEN (13) in BLOCK NO. 26 of said Addition, that is to say:
Beginning at stake in Gaston Avenue, a corner of Lots Number 12 and 13, and leaving Gaston Avenue and running thence with the division line of said Lots Number 12 and 13, a distance of 120 feet to an alley; thence along said alley and running along the line of said alley and the back line of Lot No. 13 a distance of 25 feet to a stake; thence leaving said alley and running through the middle of aid [sic] Lot No. 13, a distance of 120 feet to a stake in Gaston Avenue, and thence along said Gaston Avenue a distance of 25 feet to the place of beginning; being the one-half (1/2) of Lot No. 13 which lies next adjacent to said Lot No. 12 in Block No. 26 of said Addition.
Upon information and belief, the street address of the Real Estate is 620 Gaston Avenue, Fairmont, West Virginia 26554.
TERMS OF SALE:
Sale of the Real Estate will be made by public auction to the highest bidder. The Substitute Trustee reserves the right to reject any bid that in his opinion is inadequate. The highest bidder will be required to tender 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 in cash or immediately available funds within 30 days of the sale. The Substitute Trustee reserves the right to accept or reject such other terms as to payment or delivery of payment as may be agreed to with bidder in advance of the sale. If the successful bidder fails to deliver the total purchase price within the prescribed time, the Substitute Trustee may proceed to resell the Real Estate pursuant to the Deed of Trust or, at the discretion of the Substitute Trustee, convey the Real Estate to the next highest bidder if such bidder will honor said bid.
The Substitute Trustee also reserves the right to continue the sale of the Real Estate from time to time by oral proclamation or by posting a notice of the same where legal notices are posted in Marion County, West Virginia, which continuation shall be in the sole discretion of the Substitute Trustee. Should the Substitute 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 Substitute Trustee to make further inquiry. Please direct any inquiries or objections to the sale to the Substitute Trustee in writing at the following address: Substitute Trustee, David M. Thomas, Esq. at Dinsmore & Shohl LLP, 215 Don Knotts Boulevard, Suite 310, Morgantown, West Virginia 26501, (304) 225-1422. Any sale may be conducted or adjourned by the designated agent or attorney of the Substitute Trustee. The Substitute Trustee may utilize the services of an auctioneer in conjunction with the sale. The beneficiary under the Deed of Trust or beneficiary’s 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 made therefore all or any of the secured debt then due.
The Trustee reserves the right to and does hereby state his intention to pay any excess proceeds available and/or to credit any excess bid amount, after payment of the costs of sale and obligations secured by the Deed of Trust, to the obligations secured by that certain Credit Line Deed of Trust, Assignment of Leases, Rents and Profits, Security Agreement and Fixture Filing, dated as of June 29, 2009, made by Grantor, as grantor, and Ellen S. Cappellanti and Charles W. Loeb, Jr., as trustees, to secure indebtedness up to the principal amount of $120,000.00, plus interest and other applicable charges, originally owed to Laura L. Viglianco-Boyce, of record in the Office of the Clerk of the County Commission of Marion County, West Virginia, in Trust Deed Book 957, at page 199, and which was subsequently assigned pursuant to that certain Assignment of Deed of Trust of record in the office of the Clerk of the County Commission of Marion County, West Virginia in Assignment Book 47 at Page 799.
Conveyance will be made by Trustee’s Deed in the form prescribed by W. Va. Code § 38-1-6, 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. Every lot or parcel of the Real Estate, and any improvements located thereon, are sold in “AS IS” condition. The Substitute Trustee does not make any representations or warranties as to the physical condition of the Real Estate. Any and all legal procedural requirements to obtain physical possession of the Real Estate after the sale are the responsibility of the purchaser. Purchaser 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 for the purchase of any such lots or parcels. 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. All settlement fees, costs of conveyance, examination of title and recording charges shall be at the expense of the purchaser. The Substitute Trustee makes no representations regarding the state of title to the Real Estate. The purchaser 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 5th day of February, 2016.
David M. Thomas,
Substitute Trustee
Dinsmore & Shohl LLP
215 Don Knotts
Boulevard, Suite 310
Morgantown, West
Virginia 26501
Telephone: (304) 225-1422
Facsimile: (304) 296-6116
Times: February 9, 16, 2016
Sponsored by ZMM Architects and Engineers