• NOTICE OF SALE UNDER POWER ...

NOTICE OF SALE
UNDER POWER

Under and by virtue of the power of sale contained in that certain Amended, Restated and Consolidated Deed to Secure Debt (Coweta County Property/Approximately 1,389.16 Acres) between Stanley E. Thomas and Carole Reed Thomas, both individual residents of the State of Georgia and John D. Phillips, an individual resident of the State of Georgia (“Phillips”), dated August 27, 2008, recorded on September 9, 2008, in Deed Book 3384, Page 482, in the Coweta County, Georgia real property records; as corrected by Corrective Modification to Amended, Restated and Consolidated Deed to Secure Debt (Coweta County) between Fourth Quarter Properties XLV, LLC, a Georgia limited liability company (“Grantor”), Stanley E. Thomas and Carole Reed Thomas and Phillips, dated as of December 22, 2008, recorded on December 22, 2008, in Deed Book 3409, Page 140, in the aforesaid records, and securing that certain Amended, Restated and Consolidated Promissory Note dated August 27, 2008, in the original principal amount of $26,310,364.18, with interest therein stated (as modified, renewed or assigned, the “Note”), as subsequently modified from time to time and as assigned by Assignment of Amended, Restated and Consolidated Deed to Secure Debt from Phillips to JDP Land, LLC, a Georgia limited liability company (“Lender”), dated as of August 31, 2017, recorded on or about the date thereof in the aforesaid records (as modified and assigned, the “Security Deed”), and in compliance with O.C.G.A. §44-14-162.1 et seq., there will be sold by the undersigned at public outcry to the highest bidder for cash before the courthouse door at Coweta County, Georgia, within the legal hours of sale on the first Tuesday in October, 2017, the property described in Exhibit “A” attached hereto and incorporated herein by reference, together with all buildings, structures, fixtures and other improvements as set forth in the Security Deed (the “Property”). The debt secured by said Security Deed has been and is hereby declared due because of, among other possible events of default, nonpayment of the amounts owed by Grantor to Lender. The Property will be sold subject to: All outstanding taxes and assessments, and any additional taxes which might result from a reassessment of the Property (including taxes which are a lien, whether or not due and payable), special assessments, unpaid utility bills constituting liens against the property, and all liens and encumbrances that are superior to the Security Deed; Rights of tenants in possession (if any) and all parties claiming by, through or under said tenants; All valid zoning ordinances; Rights to notice and of redemption, if any, of any taxing authority, including the Internal Revenue Service; All matters that might be disclosed by a current and accurate survey or inspection of the Property; and All other, if any, easements, limitations, reservations, covenants, restrictions, deeds to secure debt, special assessments, unpaid utility bills constituting liens against the Property, and all liens, claims, or other encumbrances to which the Security Deed is junior and subordinate in terms of priority under the laws of the State of Georgia. The Property will be sold on an “as is, where is” basis without recourse against the undersigned and without representation or warranty of any kind or nature by the undersigned with respect thereto, including no warranty as to the exact acreage of the Property. To the best of Lender’s knowledge and belief, the Property is in the possession of Grantor or third parties claiming under Grantor. The sale will be conducted subject to (1) confirmation that the sale is not prohibited under the U.S. Bankruptcy Code and (2) final audit and confirmation of the status of the loan with Lender. JDP LAND, LLC, a Georgia limited liability company as Attorney-in-Fact for Fourth Quarter Properties XLV, LLC Jeffrey F. Montgomery, Esq. Cushing, Morris, Armbruster and Montgomery, LLP 191 Peachtree Street, N.E., Suite 4500 Atlanta, Georgia 30303 (404) 521-2323 This firm is acting as a debt collector. Any information obtained will be used for that purpose. EXHIBIT “A” Legal Description All that tract or parcel of land situate, lying and being in Land Lots 145, 146, 161 and 162 of the First Land District of Coweta County, Georgia containing 266.505 acres according to plat of survey for New Rivers Corporation dated September 13, 1996 made by John R. Christopher, Registered Land Surveyor of record in Plat Book 63, Page 191 in the Office of the Clerk of the Superior Court of Coweta County, Georgia, reference to which plat is hereby made for a more particular and accurate description of the property herein described. ALSO: All that tract or parcel of land situate, lying and being in Land Lots 144, 145 and 162 of the First Land District of Coweta County, Georgia and being identified as Parcel "1" containing 137.0246 acres, Parcel "2" containing 76.5607 acres and Parcel "3" containing 64.2745 acres according to plat of survey dated April 14, 1995 for Stanley E. Thomas made by John R. Christopher, Georgia Registered Land Surveyor of record in Plat Book 61, Page 191 in the Office of the Clerk of the Superior Court of Coweta County, Georgia, reference to which plat is hereby made for a more particular and accurate description of the property herein described. ALSO: All that tract or parcel of land lying and being in land lot 163 of the 1st District of Coweta County, Georgia and being more particularly described as follows: To arrive at the true point of beginning begin where the East Right of Way of Elders Mill Road intersects the center line of Elders Mill Drive; thence in a northerly direction along the East Right of Way of Elders Mill Road 335.00' to the true Point of Beginning; Thence continuing in a northerly direction along the east Right of way of Elders Mill Road and a curve to the left having an arc distance of 281.94', a radius of 1275.08', a chord distance of 281.37' and a chord bearing of N 11 degrees 24 minutes 13 seconds west to a point: thence continuing along said Right of Way N 28 degrees 03 minutes 19" west a distance of 7.21' to an iron pin set on the land lot line between land lot 162 & 163 of said District; thence 88 degrees 21 minutes 31” east a distance of 1000.00' along said land lot line to an iron pin found; thence S 6 degrees 10 minutes 36” east a distance of 282.58' to an iron pin found; thence 88 degrees 23 minutes 00” west a distance of 971.36' to an iron pin found and the True Point of Beginning. Said tract or parcel of land contains 6.30 acres as shown on a plat for Stan Thomas by Southern Surveying. Inc. dated January 3, 2005. Said property being the same property depicted as Tract 1 on that certain plat recorded in Plat Book 34. Page 65, Coweta County, Georgia records.
No.67330-9-7-14-21-28
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PostedSeptember 07, 2017