NOTICE OF TRUSTEE’S SALE
Notice is hereby given by the undersigned Successor Trustee, in accordance with the provisions of that certain Deed of Trust dated November 18, 2020, and made effective November 30, 2020, and recorded on December 4, 2020 in the office of the Clerk of the County Commission of Wood County, West Virginia, in Trust Deed Book 2149, Page 428 made by Jay Shree Meldi Mataji LLC in favor of Billy Atkins and Robert W. Dinsmore, as Trustee securing repayment of indebtedness evidenced by that certain Promissory Note payable to the order of Wood County Investors, LLC, in the original principal amount of $1,680,700.00, plus interest thereon, and all other indebtedness arising under the Deed of Trust and Promissory Note.
Pursuant to authority granted in the Deed of Trust, Wood County Investors, LLC, the owner and holder of the Promissory Note secured by the Deed of Trust, appointed C. Seth Wilson, a resident of Monongalia County, West Virginia, to serve as Successor Trustee, by that certain Notice of Substitution of Trustee, dated January 23, 2025, of record in the aforesaid Clerk’s office on January 24, 2025 in Book 2149, page 428.
Wood County Investors, LLC, the owner and holder of the Promissory Note secured by the Deed of Trust, has notified the Successor Trustee that Jay Shree Meldi Mataji LLC is in default under the terms of the Deed of Trust and the Promissory Note, and has requested, in writing, that the Successor Trustee sell the real property described in the Deed of Trust at public auction, in accordance with the terms of the Deed of Trust and applicable law.
TAKE NOTICE that the undersigned Successor Trustee will offer for sale at public auction on the 19th day of March, 2025, at 9:30 a.m., prevailing Eastern time, at the front door of the old Wood County Courthouse, 1 Court Square, Parkersburg, West Virginia 26101, certain real estate situate in Wood County, West Virginia, and being more particularly bounded and described as follows (hereinafter, the “Real Property”):
TRACT 1:
BEGINNING at a point in the center of an existing 50′ right-of-way that is described in DB 1107 PG 271 from which a 1″ iron pipe (found) bears S 69* 00′ 04″ W – 222.69′ thence N 63* 42′ 04″ E – 27.64′ to a point in the eastern boundary of said right-of-way and common corner to Delsher for one (1) curve and one (1) line, with a curve to the right having a chord bearing S 02* 57′ 03″ W – 13.24′ and a radius of 343.00′ to a point thence N 78* 32′ 19″ E – 233.86′ to a 3/4″ rebar (found) and a common corner to said Delsher, Inc. and F. L. Morehead DB 919 PG 950 thence running with Morehead for one (1) line S 14* 49′ 25″ E – 128.15′ to a point in the western right-of-way of Interstate 77 Federal Project I-77-3(21)176 – Sheet 31 of 41 thence running with said Interstate 77 right-of-way for three (3) lines S 33* 11′ 24 W – 50.00′ to a point thence S 11* 23′ 18″ W – 215.41′ to a point thence S 33* 11′ 24″ W – 40.29′ to a point, thence leaving Interstate 77 right-of-way with 2 new lines and one new curve through Tax Map 470 Parcel C N 62* 14′ 03″ W – 321.17′ to a point in the center of a proposed 50′ right-of-way thence running with the centerline of said proposed centerline of right-of-way N 27* 45′ 57″ E – 135.93′ to a point thence with a curve to the left having a chord bearing N 15* 41′ 25″ E – 98.91′ and a radius = 288.03′ to the POINT OF BEGINNING, containing 2.20 acres, more or less, and shown as “Lot 1” on the plat entitled “Exhibit A Tax Map 470 PCL C” dated June 18, 2014, attached to Deed dated July 18, 2014, recorded July 21, 2014, of record in Deed Book 1217, Page 382, from Emerson Commons, LLC, a West Virginia limited liability company, to Wood County Investors, LLC, a West Virginia limited liability company.
TRACT 2:
A nonexclusive easement to utilize the existing fifty (50) foot access road, as shown on the aforementioned plat, for purposes of ingress and egress from WV State Route 2 (Emerson Avenue).
Being the same real estate conveyed from Wood County Investors, LLC, a West Virginia limited liability company, to Jay Shree Meldi Mataji LLC, a West Virginia limited liability company, by Deed dated November 18, 2020, and recorded in the Office of the Clerk of the County Commission of Wood County, West Virginia in Deed Book No. 1315, at Page 618.
TERMS OF SALE
The Real Property will be sold for (a) cash in hand on the date of sale, (b) a ten percent (10%) down payment due on the date of sale with the remaining purchase money due on or before the thirtieth (30th) day following the sale date, or (c) under any different, other, or additional sale terms as the Successor Trustee, in his reasonable discretion, determines to be appropriate or advisable. The sale shall be further subject to the following:
1. Various rights of way and leasehold interests, whether recorded in aforesaid Clerk’s office or unrecorded, and to the extent any of the foregoing is still valid, in effect, and enforceable at the time of sale;
2. Real estate taxes delinquent, due or payable or to become due and payable, all of which shall be the responsibility of the purchaser;
3. Any statutory lien or liens that may affect the Real Property;
4. All covenants, conditions, restrictions, reservations, easements and rights-of-way appearing of record in the chain of title to the property, or which may be visible from a physical inspection of the subject property;
5. All liens and encumbrances of any nature whatsoever, including, without limitation, liens for real estate taxes, incinerator, sanitary and sewer charges, having priority over the deed of trust referred to herein.
6. The purchaser at the sale shall be responsible for paying the costs of recording the Successor Trustee’s Deed and the tax imposed by the State of West Virginia on the privilege of transferring Real Property (the cost of the tax stamps to be affixed to the Deed).
7. All of the Real Property to be sold 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 of implied. The Successor Trustee shall be under no duty to cause any existing tenant or person occupying the Real Property to vacate said property. 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. The Successor Trustee makes no representations and warranties about the title to the real estate to be conveyed. If the Successor Trustee is unable to convey insurable or marketable title to the purchaser for any reason, purchaser’s sole remedy is return of deposit.
8. 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.
9. The undersigned Successor Trustee expressly reserves the right to reject any and all bids, and the right to adjourn the sale from time to time without notice other than oral proclamation at the time and place appointed for the sale. Such adjournment may be for a period of time deemed expedient by the beneficial owner, and shall not be construed to be a waiver of the right to make the sale contemplated by this Notice.
10. The beneficiary of the Deed of Trust and holder of the Note thereby secured reserves the right to submit a bid for the Real Property at the sale, which bid may be in the form of a credit bid.
11. The successful bidder will be required to execute a memorandum of sale upon the acceptance of the successful bid by the Successor Trustee.
12. The sale is subject to post-sale confirmation that Jay Shree Meldi Mataji LLC did not file for bankruptcy protection before the conclusion of bidding, in which case the sale will be null and void and the purchaser’s sole remedy, at law or in equity, will be return of deposit without interest.
13. The Trustee reserves the right to act by agent and/or attorney, as permitted by the Deed of Trust.
14. Risk of loss will pass at the time of sale. All risks of casualty pass to successful bidder at conclusion of bidding.
15. The rights of parties in possession of such Real Property, if any.
16. The undersigned Substitute Trustee shall have the right to offer such Real Property for sale and to sell, grant, convey, transfer, and dispose of such property as separate and independent lots, parcels and/or tracts or as a whole, as the Substitute Trustee shall determine, and in such order as the Substitute Trustee shall determine.
17. If the highest bidder at the auction fails to consummate the transaction, the Successor Trustee may offer the Real Property to the next highest bidder, and may proceed to do the same for each next highest bidder until one consummates the transaction, all in the Successor Trustee’s discretion and all without the need for the Successor Trustee to notice and hold a new sale.
Additional terms of sale may be announced prior to the sale.
Any inquiries regarding this sale may be directed to C. Seth Wilson, Esq., Substitute Trustee, Bowles Rice, LLP, 125 Granville Square, Suite 400, Morgantown, West Virginia 26501, Telephone: (304) 285-2500.
DATED this 13th day of February, 2025.
C. Seth Wilson, Esq.,
Substitute Trustee
Feb 25, March 5, 12