NOTICE OF SUCCESSOR TRUSTEE’S SALE
OF PROPERTY IN WOOD COUNTY, WEST VIRGINIA
Located at 2501 Garfield Avenue, Parkersburg, West
Virginia 26101
NOTICE IS HEREBY GIVEN THAT:
By virtue of that certain Deed of Trust dated April 7, 2022, made, executed, and granted by KRONOS ADVANCED TECHNOLOGIES WV, INC., a West Virginia corporation, to Joyce F. Ofsa, as Trustee for the benefit of the WEST VIRGINIA ECONOMIC DEVELOPMENT AUTHORITY, whose address is NorthGate Business Park, 180 Association Drive, Charleston, West Virginia 25311-1217, as Lender, and recorded in the Office of the Clerk of the County Commission of Wood County, West Virginia (“Clerk’s Office”), in Trust Deed Book 2235, page 591, Instrument # 88281801, default in the performance of the obligations thereby secured having occurred, and pursuant to the terms thereof and to the written request of the holder of the indebtedness thereby secured, and further pursuant to the authority granted to the undersigned by that certain Appointment of Successor Trustee dated January 22, 2024, and recorded January 23, 2024, in the aforesaid Clerk’s Office in Book 2314, at page 757, Instrument # 88325218, the undersigned Successor Trustee will sell at public auction to the highest bidder on:
Friday, February 23, 2024, at 11:00 a.m.
on the front steps of the Wood County Courthouse
1 Court Square, Parkersburg, West Virginia 26101
the following described real estate (herein referred to as the “Property”):
All those certain lots, tracts or parcels of real estate lying and being situate in the City of Parkersburg, County of Wood, and State of West Virginia, more particularly bounded and described as follows:
Parcel 1 – 10.078 Acres
Situated on 24th Street, City of Parkersburg, Wood County, State of West Virginia and being more particularly described as follows:
Beginning at an iron pipe found (about nine feet off a creek bank), said iron pipe being at the intersection of Newton Street and 26th Street (both unimproved) and being at a corner common to GX7 Limited Partnership (Vol. 976 Pg. 766), said iron pipe also being the Point of Beginning of the Existing Parcel herein described;
Thence (bearings are based on the WVSPCS North Zone and used to denote angular measurement only), leaving said Newton Street, with the common line of said 26th Street and said GX7 Limited Partnership, South 61*35’01” East 975.00 feet to an iron pipe found at the corner of an unnamed 20′ wide alley (for reference an iron pin found bears S61*18’13″E 20.05 feet);
Thence leaving said 26th Street, with the common line of said unnamed 20′ wide alley and said GX7 Limited Partnership, South 28*27’36” West 325.16 feet to an iron pin found at a corner common to Mo’s Mini Warehousing, LLC (Vol. 1284 Pg. 495);
Thence with the common line of said GX7 Limited Partnership and said Mo’s Mini Warehousing, LLC, the following four bearings and distances:
1) North 61*25’43” West 162.54 feet to a
railroad spike found;
2) North 79*49’35” West 79.95 feet to a
railroad spike found;
3) North 61* 50’18” West 126.56 feet to a
railroad spike found;
4) South 28*28’04” West 199.70 feet to an
iron pin found (with red cap) on the right of way
line of 24th Street);
Thence leaving said Mo’s Mini Warehousing, LLC, with the common line of said 24th Street and said GX7 Limited Partnership, North 61*35’35” West 329.68 feet to an iron pipe found near a corner post common to Erickson All-Sports Facility Lot 183 (Lots 177, 178, 181 and 183, Vol. 1062 Pg. 419);
Thence leaving said 24th Street, with the common line of said GX7 Limited Partnership and said Lot 183, the following three bearings and distances:
1) North 28*26’30” East 119.85 feet to a point
at or near a corner post;
2) North 61* 32’20” West 40.00 feet to a point;
3) South 28*26’30” West 119.89 feet to an iron
pin set on the said right of way line of 24th Street
(all iron pins set are 5/8″ x 30″ rebar with caps
stamped H.Varian PS 2395);
Thence leaving said Lot 183, with the common line of said 24th Street and said GX7 Limited Partnership, North 61* 35’35” West 40.00 feet to an iron pipe found at a corner common to Lot 181;
Thence leaving said 24th Street, with the common line of said GX7 Limited Partnership and said Lot 181, the following three bearings and distances:
1) North 28*26’30” East 119.93 feet to a point;
2) North 61* 32’20” West 40.00 feet to a point
(an iron pin found disturbed bears South 75*33’03”
West 1.79 feet);
3) South 28*26’30” West 119.97 feet to an iron pipe
found on the said right of way line of 24th Street;
Thence leaving said Lot 181, with the common line of said 24th Street and said GX7 Limited Partnership, North 61*35’35” West 80.00 feet to an iron pipe found at a corner common to Lots 177 and 178 (for reference an iron pin found bears N61*34’31” West 80.15 feet);
Thence leaving said 24th Street, with the common line of said GX7 Limited Partnership and said Lots 177 and 178, the following two bearings and distances:
1) North 28*26’30” East 120.04 feet to an iron pipe found;
2) North 61*32’20” West 80.11 feet to an iron pin found
on the common line of said Newton Street,
Thence leaving said Lots 177 and 178, with the common line of said Newton Street and said GX7 Limited Partnership, North 28*26’30” East 430.00 feet to the point of beginning, containing 10.078 acres, more or less, as described on a plat attached hereto and being part thereof. Subject to all legal easements, leases, and rights of way of record.
Being part of Tract One (Tax Parcel Number 54-05-0045-0136-0000) as conveyed in the Deed from Lowe’s Home Centers, Inc. to GX7 Limited Partnership, dated December 19, 1997, and recorded in the Office of the Clerk of the County Commission of Wood County, West Virginia in Deed Book 976, at page 766.
Main sources of reference include Wood County deed records, tax maps and survey records.
Parcel 2 – 0.425 Acres
Situated on Garfield Avenue, City of Parkersburg, Wood County, State of West Virginia and being more particularly described as follows:
Beginning at a Railroad spike found on the right of way line of Garfield Avenue, said Railroad spike being at a corner common to GX7 Limited Partnership (Vol. 976 Pg. 766) and T and J Buildings Trust LLC (Vol. 1127 Pg. 781), said Railroad spike also being the Point of Beginning of the Existing Parcel herein described;
Thence (bearings are based on the WVSPCS North Zone and used to denote angular measurement only), leaving the said right of way line of Garfield Avenue, with the common line of said GX7 Limited Partnership and said T and J Buildings Trust LLC, North 61*31’51” West 185.00 feet to an iron pin found on the right of way line of an unnamed 20′ wide alley;
Thence leaving said T and J Buildings Trust LLC, with the common line of said unnamed 20′ wide alley and said GX7 Limited Partnership, North 28*28’01” East 100.05 feet to an iron pin found at a corner common to Blenn Haven LLC (Vol. 1286 Pg. 58);
Thence leaving said unnamed 20′ wide alley, with the common line of said GX7 Limited Partnership and said Blenn Haven LLC, South 61*31’51” East 185.00 feet to an iron pin found on the said right of way line of Garfield Avenue;
Thence leaving said Blenn Haven LLC, with the common line of said Garfield Avenue and said GX7 Limited Partnership, South 28* 28’01” West 100.05 feet to the point of beginning, containing 0.425 acres more or less, as described on a plat attached hereto and being part thereof. Subject to all legal easements, leases, and rights of way of record.
Being all of Tract Two (Tax Parcel Number 54-05-0045-0082-0000) as conveyed in the Deed from Lowe’s Home Centers, Inc. to GX7 Limited Partnership, dated December 19, 1997, and recorded in the Office of the Clerk of the County Commission of Wood County, West Virginia in Deed Book 976, at page 766.
Main sources of reference include Wood County deed records, tax maps and survey records.
The above two parcels are further shown and described on the survey map entitled “Plat of a Survey for Kronos Advanced Technologies – Plat of survey of Two Existing parcels of land situate on 24th Street and Garfield Ave., City of Parkersburg, Wood County, State of West Virginia, Existing Parcel 1 containing 10.078 acres more or less, and Existing Parcel 2 containing 0.425 acres more or less”, Surveyed December 2021 and February 2022 by or under the direct supervision of Harry T. Varian III Professional Surveyor # 2395″, and dated February 23, 2022, which Plat of Survey is incorporated by reference herein and made a part hereof.
The Property is commonly known as 2501 Garfield Avenue, Parkersburg, West Virginia 26101.
The Property is being sold subject to any and all easements, rights-of-way, exceptions, reservations, restrictions, covenants, conditions, leases, liens or encumbrances affecting title to the Property and further to any state of facts that would be disclosed by or apparent upon an inspection or an accurate survey of the Property described above; provided, however, that any such restriction, covenant or condition indicating a preference, limitation or discrimination based on race, color, religion, sex, marital status, ancestry, disability, handicap, familial status or national origin is hereby deleted to the extent such restriction, covenant or condition violates 42 USC § 3604(c).
The sale shall further be made subject to accrued and unpaid ad valorem real property taxes upon the Property. The Successor Trustee makes no representations or warranties as to the validity or priority of such liens, taxes, encumbrances and other matters, if any.
TERMS OF SALE:
1. Cash in hand on the day of sale. The successful bidder shall tender to the Successor Trustee by certified or cashiers’ check, on the day of sale, a nonrefundable deposit in the amount of Twenty Thousand Dollars ($20,000.00) payable to the Successor Trustee. Such deposit is NONREFUNDABLE, except as expressly provided by these Terms of Sale. The remaining balance of the purchase price must be paid to the Successor Trustee by certified or cashiers’ check or electronic funds transfer no later than 5:00 p.m. EST on Friday, March 22, 2024.
2. Upon conclusion of the sale, the purchaser will be required to execute a Memorandum of Sale, evidencing the sale of the Property and the purchase price, and incorporating the terms of this Notice. Time is of the essence.
3. If the purchaser fails to deliver the full purchase price within the prescribed time, at the Successor Trustee’s sole discretion, she may declare the deposit forfeited, and in addition to any other legal or equitable remedies available to her, she may (a) file suit to enforce specific performance, (b) convey the Property to the next highest bidder if such bidder will honor his, her or its bid, or (c) proceed to resell the Property pursuant to the aforesaid Deed of Trust. In the event of such a default the defaulting purchaser(s) shall be liable to the Beneficiary for the payment of any deficiency in the purchase price resulting therefrom, all costs and expenses of any subsequent sale, reasonable attorneys’ fees, all other charges due, and incidental damages. In the event a resale of the Property results in a sale in excess of the amount originally bid by the defaulting purchaser, the defaulting purchaser shall not be entitled to return of the deposit, and waives any and all claims, rights and interest to any such excess amount and shall not be entitled to any distribution whatsoever from the resale proceeds. The parties’ respective rights and obligations regarding the terms of sale and the conduct of the sale shall be governed by and interpreted according to the laws of the State of West Virginia.
4. The Beneficiary of the aforesaid Deed of Trust and the holder of the note thereby secured reserves the right to submit a bid for the Property at the sale, which bid may be in the form of a credit bid. The Beneficiary is not required to post a deposit.
5. The Property may be sold either as a whole or in parcels in the Successor Trustee’s sole discretion.
6. The Successor Trustee reserves the right to accept or reject any bids.
7. The Property will be sold subject to any and all assessments and taxes against said Property, and all prior liens and encumbrances of any nature whatsoever, including the Internal Revenue Service’s right of redemption, if any.
8. The purchaser shall be responsible for the payment of the transfer taxes imposed by West Virginia Code § 11-22-2 and any and all other settlement costs and costs incidental to transfer of the Property.
9. The purchaser shall be responsible for the payment of any accrued and unpaid ad valorem real property taxes against the Property. Taxes and all other public charges and assessments outstanding against the Property shall be paid by purchaser at closing.
10. The subject Property will be sold in “AS IS” condition. The Successor Trustee makes no representations or warranties of any kind or character including, but not limited to, the condition, zoning or use of the Property or the title to the Property to be conveyed. The purchaser is responsible for, and the Property is sold subject to, any environmental matter or condition, whether latent or observable, if any, that may exist at or affect or relate to the Property and to any governmental requirements affecting the same. The Property will be sold subject to any building or housing violations, easements, agreements, restrictions, terms, rights of way, filed and unfiled mechanics’ and materialmen’s liens, covenants, conditions, rights of redemption, liens and all other encumbrances having priority over the secured party’s Deed of Trust, if any, lawfully affecting the Property, whether or not of record, including all applicable federal, state and local laws, ordinances and regulations lawfully affecting the Property. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the Property and the improvements thereon and permitted uses of the Property.
11. The Successor Trustee will deliver a trustee’s deed to the purchaser without any covenant or warranty (express or implied) in the form prescribed by W.Va. Code § 38-1-6 upon receipt of the full purchase price in good and available funds.
12. If the Successor Trustee fails, refuses or for any reason is unable to convey title to the Property, the Successor Trustee may set aside the sale and void the Memorandum of Sale. In such event, the sole remedy of the purchaser is the return of the deposit. Reasons of such inability to convey include, but are not limited to, the filing of a bankruptcy petition by the grantor prior to the sale or reinstatement or payoff of the loan without the knowledge of the Successor Trustee. If the validity of the sale is challenged by a party in interest, the Successor Trustee, in her sole discretion, may declare the sale to be void and return the deposit. Purchaser shall have no further remedy.
13. The Successor Trustee shall be under no duty to cause any existing tenant or person occupying the subject property to vacate said Property. Prospective purchasers are hereby advised that the rights of existing tenants or persons occupying the subject Property may be covered by the provisions of West Virginia Code § 38-1-16.
14. Prospective purchasers are advised that the Beneficiary holds a security interest in some or all of the personal property, equipment, and inventory (collectively, the “Personal Property”) located in and on the real Property, and the sale of the real Property does not include the sale of such Personal Property. As a condition of the sale, the successful purchaser agrees that Beneficiary shall have access to the real Property in order to remove and/or sell certain of the Personal Property under applicable law, including an on-site auction if necessary. Purchaser shall cooperate fully with the Beneficiary in the removal and sale of such Personal Property. Purchaser shall be responsible for compliance with all applicable laws, including West Virginia Code § 38-1-17 to the extent such statute applies, in the disposal of any items of personal property that remain thereafter.
15. The Successor Trustee reserves the right (i) to modify or waive the requirements for bidder’s deposits and terms of sale and/or settlement, (ii) to withdraw the Property from the sale;
(iii) to reject any and all bids; and (iv) to adjourn the sale, for a time, or from time to time, without further notice, by announcement made at the time and place of the sale described above.
16. Announcements made on the day of sale take precedence over these Terms of Sale.
Given under my hand this 24th day of January, 2024
_________________
DEBRA LEE ALLEN
Successor Trustee
Spilman Thomas & Battle, PLLC
c/o P.O. Box 776
Charles Town, West Virginia 25414
304.216.5835
[email protected]
Feb 7, 14