Pendleton

Notice of Trustee’s Sale of Real Property

NOTICE OF TRUSTEE’S SALE OF REAL PROPERTY

NOTICE IS HEREBY GIVEN that by virtue of that certain Third Amended and Restated Credit Line Deed of Trust, Assignment of Leases, Rents and Profits, Security Agreement and Fixture Filing, dated as of December 28, 2011 (the “Deed of Trust”), made by Commercial Associates LLC, a West Virginia limited liability company (“Grantor”), to Ellen Cappellanti and Charles W. Loeb, Jr., as trustees, of record in the Office of the Clerk of the County Commission of Hardy County, West Virginia (the “Clerk’s Office”), in Deed of Trust Book 265, Page 14, to secure Pendleton Community Bank in the payment of the sum of $3,004,715.48, evidenced by a promissory note bearing even date therewith, and Pendleton Community Bank being authorized and empowered to designate and appoint one or more successor trustees in the place and stead of the trustees named in the Deed of Trust, and the undersigned, Robert E. Glenn (the “Successor Trustee”), having been so appointed by the terms of an Appointment of Successor Trustee of record in the Clerk’s Office, and default having been made in the payment of said indebtedness and said Successor Trustee having been requested in writing so to do by Pendleton Community Bank, the owner and holder of said note (the “Noteholder”), said Successor Trustee, on

FRIDAY, JULY 22, 2016 AT 10:00 A.M.

EASTERN TIME

will offer for sale and sell at public auction at the front door of the Pendleton County Courthouse in Franklin, West Virginia, as required by the terms of the Deed of Trust, to the highest bidder therefor, all of the following described real estate together with the improvements thereon and appurtenances thereunto, situate, lying and being in Hardy County, West Virginia (the “Real Property”), and more particularly described as follows:

PARCEL ONE:

All that certain lot or parcel of real estate, together with any and all improvements thereon and appurtenances thereto, situate, lying and being in Moorefield District, Hardy County, West Virginia, along Caledonia Heights Road and more particularly described as follows:

Beginning at an iron re-bar and cap found on the southwesterly line of the property now or formerly of West Virginia Economic Development Authority marking the most easterly corner of the property of Commercial Associates, Inc. (Deed Book 290, Page 625); thence with said southwesterly line of the West Virginia Economic Development Authority S 60° 38’ 40″ E, 690.41 feet to a fence post found on the northwesterly line of the property now or formerly of Hardy County Rural Development Authority (Deed Book 221, Page 555); thence with said northwesterly line of Hardy County Rural Development Authority and continuing with the northwesterly line of the property now or formerly of The County Commission Of Hardy County (Deed Book 281, Page 461) S 33° 07’ 25″ W, 499.95 feet to an iron re-bar found marking the most easterly corner of the property now of formerly of Yellowbud Place, LLC (Deed Book 261, Page 681); thence with the northeasterly and northwesterly lines of said Yellowbud Place, LLC N 61° 04′ 39″ W, 309.94 feet to an iron re-bar found and S 33° 06’ 57″ W, 558.01 feet to a point on the northwesterly right of way line of Caledonia Heights Road; thence with said northwesterly right of way line of Caledonia Heights Road the following three (3) courses: N 60° 55’ 09″ W, 40.19 feet to a point; N 33° 07’ 24″ E, 3.59 feet to a point and N 60° 34’ 14″ W 212.87 feet to a point marking the most southerly corner of Tasha K. Catrow; thence with the southeasterly and northeasterly lines of said Tasha K. Catrow N 33° 06’ 52″ E, 345.86 feet to a point and N 60° 34’ 22″ W, 330.34 feet to a point on the easterly line of aforementioned Commercial Associates, LLC; thence with the lines of said Commercial Associates, LLC the following nine (9) courses: N 20° 46’ 21″ E, 303.50 feet to an iron re-bar found marking the point of curvature of a curve to the right; 43.01 feet along the arc of said curve having a radius of 25.00 feet and a chord bearing and chord of N 70° 03’ 51″ E, 37.90 feet respectively, to an iron re-bar found; S 60° 38’ 40″ E, 197.53 feet to an iron re-bar found marking the point of curvature of a curve the right; 39.27 feet along the arc of said curve having a radius of 25.00 feet and a chord bearing and chord of S 15° 38’ 40″ E, 35.36 feet respectively, to an iron re-bar found; S 60° 38’ 40″ E, 40.00 feet an iron re-bar found marking the point of curvature of a non-tangent curve the right; 39.27 feet along the arc of said curve having a radius of 25.00 feet and a chord bearing and chord of N 74° 21’ 20″ E, 35.36 feet respectively, to an iron re-bar found; N 29° 21’ 20″ E, 40.00 feet to an iron re-bar found; N 60° 38’ 40″ W, 17.50 feet an iron re-bar found and N 29° 21’ 20″ E, 340.00 feet to the point of beginning, containing 583,887 square feet or 13.40420 acres, more or less, all as more particularly set forth on a plat of survey dated April 27, 2007 and revised May 2, 2007 and May 11, 2007, prepared by Kevin D. Nelson, P.S. No. 2084, of William H. Gordon Associates, Inc. to be recorded in the Office of the Clerk of the County Commission of Hardy County, West Virginia.

Together with all right, title and interest in and to any land lying in the bed of any public and private streets, roads, highways, avenues, adjacent to the above described real estate, including all right, title and interest in and to a narrow tract of real estate containing 0.03838 acres more or less, over which a right of way was granted to the West Virginia Department of Transportation, Division of Highways, by the Grantor herein, by deed dated February 15, 2006, and recorded in the Hardy County Clerk’s Office in Deed Book 290, Page 623.

And being the same real estate conveyed to Commercial Associates LLC, a West Virginia limited liability company, from Patricia B. Michael by Deed dated May 16, 2007, to be recorded in the aforesaid County Clerk’s Office immediately prior to this Deed of Trust.

PARCEL TWO:

All that certain lot or parcel of real estate, together with any and all improvements thereon and appurtenances thereto, situate, lying and being in Moorefield District, Hardy County, West Virginia, along Caledonia Heights Road, approximately one mile east of the City of Moorefield and containing 12.00406 acres, more or less, and being more particularly bounded and described and defined as the “Sale Parcel Area” upon that certain plat of survey dated February 14, 2006, prepared by Kevin D. Nelson, P.S. No. 2084, of William H. Gordon Associates, Inc., recorded in the Office of the Clerk of the County Commission of Hardy County, West Virginia, in Deed Book No. 290, at Page 628.

LESS AND EXCEPT:

1. Out-conveyance of 0.04 acres conveyed to Hardy Telecommunications by Deed dated July 31, 2007 and recorded in the Clerk’s Office Deed Book 298, Page 242 (See Plat at Deed Book 298, Page 244).

2. Out-conveyance of 0.21962 acres conveyed to Ivan Whetzel (Lot 50) by Deed dated August 6, 2007 and recorded in the Clerk’s Office in Deed Book 298, Page 320.

3. Out-conveyance of 0.17929 acres (Lot 4) conveyed by Deed to Harold and Penny Hiser dated October 1, 2007 and recorded in the Clerk’s Office in Deed Book 299, Page 99.

4. Out-conveyance of 0.17929 (Lot 46) and 0.17929 acres (Lot 48) conveyed to Commercial Assemblers, LLC by Deed dated April 4, 2008 and of record in the Clerk’s Office in Deed Book 302, at Page 58.

5. Out-conveyance of 0.17929 (Lot 3) conveyed to Robert W. and Misty D. Shockey by Deed dated September 11, 2009 and of record in the Clerk’s Office in Deed Book 311, at page 800.

TOGETHER WITH AND SUBJECT TO:

1. Declaration of Covenants, Conditions and Restrictions of Elizabeth Station Subdivision and recorded the Office of the Clerk of the County Commission of Hardy County, West Virginia, in Book No. 295, at Page 775.

2. Revised Declaration of Covenants, Conditions and Restrictions of Elizabeth Station Subdivision and recorded the Office of the Clerk of the County Commission of Hardy County, West Virginia, in Book No. 296, at Page 343.

3. Final Revision Declaration of Covenants, Conditions and Restrictions of Elizabeth Station Subdivision and recorded the Office of the Clerk of the County Commission of Hardy County, West Virginia, in Book No. 298, at Page 34.

4. Easement and Right-of-Way dated May 18, 2007 and recorded the Office of the Clerk of the County Commission of Hardy County, West Virginia, in Book No. 300, at Page 873.

TERMS OF SALE:

1. Ten percent (10{4ceb532c6f579389df471c6c1e832caf2346b74dc60fcbf6aabd4d29df3baf9c}) of the sales price shall be paid by cash or cashier’s check issued by a regulated commercial banking institution, in hand on the day of sale (the “Good Faith Deposit”), with the balance to be paid in cash at closing within 30 days after the date of sale.

2. The Real Property shall be sold “AS IS” and “WITH ALL FAULTS.” Neither the Success or 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 Successor 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, 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 covenants, restrictions, conditions, reservations, rights of way and easements recorded in the Clerk’s Office prior to the Deed of Trust and affecting the Real Property. Reference is hereby made to that certain Subordination Agreement, dated June 20, 2016, and recorded in the Clerk’s Office in Book 295, Page 361.

4. Settlement shall be by cashier’s check issued by a regulated commercial banking institution 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 Successor Trustee or such other place as mutually agreed upon. The Successor 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 Successor Trustee may resell the Real Property at the risk and cost of the defaulting purchaser.

7. Conveyance of the Real Property shall be by a trustee’s deed without representations or warranties, and 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 Successor 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.

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 Memorandum of Sale shall be available from the Successor Trustee upon request and will be available at sale time. Immediately upon the conveyance by the Successor Trustee of the Real Property to the purchaser at foreclosure, all duties, liabilities and obligations of the Successor Trustee, if any, with respect to the Real Property shall be extinguished.

11. Pursuant to the Deed of Trust, the Successor Trustee may act by agent in the execution of the sale. Any sale hereunder may be adjourned from time to time without notice other than oral proclamation at the time and place appointed for the sale. The Successor Trustee reserves the right to reject any or all bids. The Noteholder reserves the right to purchase the Real Property at such sale.

12. Additional terms and conditions may be announced at the sale.

At the public foreclosure sale any person or entity may bid and may purchase the Real Property sold if they be 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 said 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 Hardy County, West Virginia 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.

Dated: June 30, 2016

Robert E. Glenn

Successor Trustee

Phone: 304-260-4957

Email:

[email protected]

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