NOTICE OF SALE
WHEREAS, Union Bank of Jamestown, Tennessee, is the owner and holder of the following described real estate Deed of Trust from Carrie Smith and Jack Choate
unto William J. Campbell, as Trustee, recorded January 28, 2004 in Trust Deed Book 340, Page 135 and re-recorded on June 2, 2004 in Trust Deed Book 346, Page 141 of the Register’s Office of Overton County, Tennessee, which said Deed of Trust secures a Promissory Note dated January 13, 2004, payable by Carrie Smith and Jack Choate to the Union Bank of Jamestown, Tennessee;
WHEREAS, default has occurred in the terms, conditions, and payment of the indebtedness secured by said Deed of Trust and Union Bank of Jamestown, Tennessee, has declared the entire unpaid principal balance of said Note, together with all accrued and unpaid interest, due and payable as provided in said Note and Deed of Trust and has authorized and instructed me, as their duly authorized representative and their Trustee, to foreclose said Deed of Trust by advertisement of sale at public auction in accordance with the Statutes made and provided therefore.
WHEREAS, Notice of the Right to Foreclose (“Notice”) was given in compliance with Tennessee law by mailing a copy of the Notice to the parties at least sixty (60) days prior to the first publication of the Notice of Sale.
THEREFORE, notice is hereby given that pursuant to the power of sale contained in said Deed of Trust, and in accordance with the Statutes made and provided therefore, the said Deed of Trust will be foreclosed and the property covered thereby and hereinafter described will be sold at public auction to the highest bidder for cash at the Overton County Courthouse in the City of Livingston, in Overton County, Tennessee at 10:00 a.m. on Thursday, September 26, 2013, to satisfy the indebtedness now due under and secured by said Deed of Trust; said property will be sold in bar of all right and equities of redemption, homestead, dower and all other exemptions of every kind from the borrower which are expressly waived by the terms of said Deed of Trust; said real estate will be sold without any warranties as to liens, existing highway, roadway and utility easements, applicable building and zoning regulations, such state of facts as an accurate survey would disclose, to all encumbrances, Federal Tax Liens, assessments, and mechanics’ and materialmen’s liens. The undersigned Trustee will execute a Deed to the purchaser as Trustee only. The proceeds of this sale will be applied as set out in the Deed of Trust. The real estate to be sold is described as follows:
Beginning at a stake on the northwestwardly side of State Highway #52 leading from Livingston to Jamestown, Tennessee and running thence with State Highway #52 south 56 09’ west 76.1 feet; thence south 69 16’ west 95.1 feet; thence south 81 59’ west 97.1 feet; thence north 86 53’ west 97.4 feet; thence north 76 36’ west 98.0 feet; thence north 65 48’ west 95.9 feet; thence north 52 21’ west 99.7 feet; thence north 48 01’ west 207.1 feet; thence north 61 30’ west 118.2 feet to a stake on the north side of State Highway #52; thence leaving said Highway and running thence north 10 57’ west 286.4 feet to a stake; thence south 75 00’ east 523.0 feet to a stake; thence south 76 27’ east 357.4 feet to a stake; thence south 13 11’ east 293.4 feet to the point of beginning and containing 7.5 acre, more or less.
Water rights from a spring located on the premises here conveyed are reserved unto the grantors, Willis C. Whited and wife, Joan Etta Whited for the purpose of providing water to the remaining property owned by Willis C. Whited and wife, Joan Etta Whited. Said water rights are reserved subject to the reservoir and/or storage containers for water being filled and supplying the needs of the grantees herein. Upon the grantees receiving adequate water supply from the spring located on the premises, the overflow from the reservior and/or storage container shall be for the use of the remaining lands.
Said water rights are to run with the lands.
There is an Easement for the construction and maintenance of an electric line from Jack Choate and Carrie Smith unto Upper Cumberland Electric Membership Corporation, dated August 21, 1996, acknowledged August 21, 1996, and recorded September 3, 1996, in Misc. Book 8, Page 205, of the Register’s Office for Overton County, Tennessee.
There is an Oil, Gas and Storage Lease from Carrie Smith and Jack Choate unto Ramsey Creek Oil Corp., dated January 3, 2003, acknowledged January 3, 2003, and recorded January 3, 2003, in Lease Book 50, Page 379, of the Register’s Office for Overton County, Tennessee.
The previous and last conveyance being that General Warranty Deed from John Richard Keller and Keith Harry Keller unto Carrie Smith and Jack Choate, tenants in common with the right of survivorship, dated September 27, 1993, acknowledged September 27, 1993, and recorded October 4, 1993, in Warranty Book 260, Page 509, of the Register’s Office for Overton County, Tennessee.
Carrie Choate is now deceased.
In the event the highest bidder at the foreclosure sale should fail to comply with the submitted bid, the Trustee shall have the option of accepting the next highest bid with which the bidder is able to comply, or readvertise and sell at a second sale.
The right is reserved to adjourn the day of the sale to another date certain without further publication upon announcement at the time and place herein set of the above sale.
Pursuant to Tennessee Code Section 35-5-104, there are no liens filed in the Overton County Register’s Office by the taxing authorities.
Buyers shall be responsible for paying the 2009, 2010, 2011, 2012 & 2013 real property taxes.
William J. Campbell
August 27, 2013
September 3, 2013
September 10, 2013