NOTICE OF TRUSTEEáS SALE
Notice is hereby given that default has occurred in the payment of that certain indebtedness secured by a Deed of Trust executed December 14, 2006, of record in the Office of the Clerk of the County Commission of Wood County, West Virginia, in Trust Deed Book 1402, at page 35 (the âDeed of Trustã), made by 786 Hospitality Group, LLC (ãGrantorã), to Barry W. Dobson and Clayton Rice, in their capacities as Trustees (the âOriginal Trusteesã), predecessors in interest to Curtis R. A. Capehart (the âSubstitute Trusteeã or âTrusteeã), in favor of The Huntington National Bank, (the âBeneficiaryã), to secure the payment of a note in the amount of $1,300,000.00. The Substitute Trustee was appointed in the Original Trustees’ place and stead, by instrument recorded in the aforesaid Clerkás office in Trust Deed Book 1996, at page 725. The Deed of Trust authorizes the Substitute Trustee to act in the enforcement of said Deed of Trust, and the undersigned Substitute Trustee having received such written request from the Beneficiary to enforce 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 âReal Estateã) on:
DECEMBER 19, 2017, AT 12:00 P.M. (NOON), ON THE PROPERTY LOCATION:
1339 HIGHLAND AVENUE, WILLIAMSTOWN, WEST VIRGINIA.
REAL ESTATE
DESCRIPTION:
All that certain tract or parcel or land, together with the improvements thereon and the appurtenances thereunto belonging, situate and being in the City of Williamstown, District, Wood County, West Virginia, more particularly bounded and described as follows:
BEGINNING at an iron rod (found) in the easterly line of a 50 foot wide right of way (Plat In Deed Book 687, page 601, records in the Office of the Clerk of the County Commission of Wood County, West Virginia), and being N. 04õ 37á E. 236.15 feet from an iron rod (found) in the northerly right of way line of West Virginia State Route 31; thence with the easterly line of said 50 foot wide right of way N, 10õ 16á W. 364.63 feet to railroad spike (set): thence with the interior of the parent properly (Deed Book 933, at page 5, in aforesaid Clerkás Office) two (2) courses: N. 83õ 36á E. 398.38 feet to an iron pipe (found) S. 58õ 08á E. 150.35 feet to a point in the westerly controlled access right of way line of Interstate 77 (Tract No. 1 controlled access, project: I-77-3 (40) 185, Deed Book 504, at page 58, passing an iron rod (set) at 130.35 feet; thence with the controlled access right of way line of said Interstate 77, S. 12õ 21á W. 274.00 feel to an iron pipe (found); thence with the northerly line of Williamstown Dutch, LLC (Deed Book 985, page 477) S. 82õ 01á W. 403.80 feet to the point of beginning and containing 3.747 acres, more or less.
This conveyance is made subject to all rights of way, reservations, restrictive and protective covenants, utility easements, and oil, gas and mineral leases of record in the aforesaid Clerkás Office.
There is expressly reserved unto Wiley H. Hicks and Elouise C. Hicks, the survivor of them and the heirs and assigns of said survivor, a 50 foot right of way running along the westerly boundary line of the property herein conveyed for purposes of ingress, egress and regress, to and from the property of Hospitality Motor Inns and the properly adjacent to that herein conveyed, which was retained by Wiley H. Hicks and Elouise C. Hicks. The party of the second part, its successors and assigns shall have the right to use the right of way, provided however, said party of the second part shall bear its proportionate share of the upkeep of the same.
TERMS OF SALE:
Sale of the Real Estate will be made by the Trustee by public auction to the highest bidder. The Trustee reserves the right to reject any bid that in opinion is inadequate. The highest bidder will be required to tender the purchase price in cash or immediately available funds by the end of the day of sale. The Trustee reserves the right to accept or reject such other terms as to payment or delivery of payment as may be made be agreed to by the Trustee and the bidder in advance of the sale. If the successful bidder fails to deliver the total purchase price within the prescribed time, the Trustee may proceed to resell the Real Estate pursuant to the Deed of Trust or, at the discretion of the Trustee, convey the Real Estate to the next highest bidder if such bidder will honor his or her bid.
The 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 Summers Count y, West Virginia, which continuation shall be in the sole discretion of the Trustee. Should the 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 Trustee to make further inquiry. Please direct any inquiries or objections to the sale to the Trustee in writing at the following address: Substitute Trustee, Curtis R. A. Capehart, Esquire, at Dinsmore & Shohl LLP, 707 Virginia Street East, Suite 1300, Charleston, West Virginia 25301 (304) 357-9909. Any sale may be conducted or adjourned by the designated agent or attorney of the Trustee. Beneficiary or Beneficiaryás 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.
Conveyance will be made by Trusteeás Deed in the form prescribed by W. Va. Code Œ 38 1-6, subject to all governmental charges and assessments, utility charges, easements, covenants, rights-of-way, conditions and restrictions of record. Every lot or parcel of the Real Estate, and any improvements located thereon, are sold in âAS ISã condition. The Beneficiary of the Deed of Trust 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. Risk of loss or damage will be the purchaserás 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. Trustee makes no representations regarding the state of title to the Real Estate. If Trustee cannot convey insurable or marketable title, purchaserás sole remedy is the return of the purchase money paid by the purchaser for the purchase of 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 21st day of November, 2017.
Curtis R. A. Capehart,
Substitute Trustee
Dinsmore & Shohl LLP
ó Legal Counsel
707 Virginia Street East,
Suite 1300
Charleston, West Virginia 25301
Phone (304) 357-9932
Fax (304) 357-0919
Dec 1, 8