Details for NOTICE OF SUCCESSOR TRUSTEE’S SALE
NOTICE OF SUCCESSOR TRUSTEE’S SALE
WHEREAS, default has been made in the terms, conditions and payments provided for in that certain Tennessee Deed of Trust dated October 30, 2015 in the original principal amount of $10,500,000.00 owed by Thomas Ovation I, LLC to AFF Cool Springs, a Delaware general partnership, which was recorded as Instrument Number 15047239 in Book 6603, Page 488 with the Register’s Office of Williamson County, Tennessee (the “Register’s Office”) executed by Thomas Ovation I, LLC (“Borrower”) to Old Republic Title of Tennessee, Trustee (“Original Trustee”) for the benefit of AFF Cool Springs, a Delaware general partnership (“Lender”); as modified by Lender by that certain Affidavit of Scrivener’s Error dated November 13, 2015 and recorded in Book 6613, Page 256 in the Register’s Office; as modified by Lender by that certain Loan Modification Agreement dated May 26, 2017 and recorded on August 24, 2017 as Instrument Number 17035035 in Book 7163, Page 691 in the Register’s Office; as assigned to GRE KAPPA LLC (“Substitute Lender”) pursuant to that certain assignment of deed of trust and assignment of leases and rents dated August 16, 2018 and recorded on August 23, 2018 as Instrument Number 18033414 in Book 7444, Page 857 in the Register’s Office (collectively the “Deed of Trust”); and
WHEREAS the Deed of Trust conveyed a security interest in the real property therein described located in Williamson County, Tennessee, securing an indebtedness in the original principal amount of Ten Million Five Hundred Thousand and No/100 Dollars ($10,500,000.00) as fully described in that certain Promissory Note dated October 30, 2015, together with any and all renewals, amendments, supplements, or modifications (the “Note”); and
WHEREAS, Michael Anthony Shaw was appointed Successor Trustee under the terms of the Appointment of Successor Trustee executed by Lender, of record with the Register’s Office, bearing Instrument Number 17045031 in Book 7219, Page 412, together with all the rights, powers and privileges of the original Trustee named in the Deed of Trust; and
WHEREAS, the Deed of Trust provides that in the event of default in the payment of the debt secured by said Deed of Trust, when due, or in the event of failure to comply with any of the covenants of said Deed of Trust, the whole amount of the unpaid principal sum, together with all interest due and accrued upon the same, together with all other payments agreed to be made, shall, at the option of the Substitute Lender, become immediately due and payable pursuant to the terms of the said Deed of Trust; and
WHEREAS the Note remains unpaid and secured by the Deed of Trust, and wherefore Substitute Lender, pursuant to its rights, powers and privileges, has declared the entire indebtedness to be immediately due and payable;
WHEREAS, pursuant to Tn. Code. § 35-5-104(a)(6), parties interested include CPR Money LLC, whose address is UC Credit Services LLC, 745 Boylston Street, Suite 502, Boston, Massachusetts 02116 and Old Republic National Title Insurance Company of Tennessee, whose address is 201 Fourth Avenue North, Suite 150, Nashville, Tennessee 37219; Old Republic National Title Insurance Company of Tennessee is (a) Trustee under a deed of trust of record in Book 7362, Page 647 with the Register’s Office, to secure to CPR Money LLC an indebtedness in the amount of $6,489,000.00 and (b) Trustee under a deed of trust of record in Book 7362, Page 693 with the Register’s Office, to secure to CPR Money LLC an indebtedness in the amount of $2,595,600.00;
WHEREAS, pursuant to Tn. Code. § 35-5-104(a)(6), parties interested may include Williamson County, Tennessee, at (a) c/o Yost Robertson Weigel PLLC, Attn: William J. Yost, P.O. Box. 681346, Franklin, TN 37068 and (b) Elaine Beeler, C&M, 135 4th Avenue South, Room 236, Franklin, TN 37064;
NOW, THEREFORE, pursuant to the authority vested in me as Successor Trustee, the Substitute Lender has instructed me to foreclose said Deed of Trust, I or my duly designated agent, shall at 12:00 o’clock noon local time on September 27, 2019 offer for sale at public outcry to the highest and best bidder for certified funds paid at the conclusion of the sale or credit bid by the Substitute Lender, at the entrance of the Williamson County Courthouse, located at 135 4th Avenue, Franklin, TN 37064, in bar of all statutory and common law equities of redemption and right of redemption, dower and homestead, marital share and all other rights and exemptions of every kind, the real estate located in Williamson County, Tennessee which is more particularly described in the Deed of Trust. The street address of the subject property is believed to be Ovation Parkway, Franklin, TN 37067 (the “Property”); however, in the event of discrepancy with the legal description of the Property described in the Deed of Trust and the street address, the legal description in the Deed of Trust shall control.
SUBJECT TO: any easements, liens, restrictions, restrictive covenants, setback lines, and all matters shown on any applicable recorded map, or other matters of record; any unpaid real estate taxes or assessments; any statutory rights of redemption of any governmental agency, state or federal; any prior liens or encumbrances as well as any priority created by a fixture filing; and to any matter that an accurate survey of the premises might disclose. County and City taxes may be due and owing. Please contact the appropriate authorities.
The Borrowers’ statutory and common law equities of redemption or right of redemption, dower, homestead, marital share, and all other rights and exemptions of every kind are expressly waived by the terms of the Deed of Trust, and the title is believed to be good, and said Property will be sold “AS IS” “WHERE IS” and conveyed by Successor Trustee within his capacity. The Property is being sold with the express reservation that the sale is subject to confirmation by the Substitute Lender and/or Substitute Trustee.
The sale will be made without covenants of seizin or warranties of title, and title will be made subject to any unpaid taxes and assessments and all valid restrictions, liens or encumbrances, covenants or easements, if any, of record on the Property.
The right is reserved to adjourn the day of the sale to another day, time and place certain without further publication, upon announcement at the time and place for the sale set forth herein.
The right is reserved to rescind the sale at any time and for any event, including if the highest bidder does not honor its highest bid within 24 hours, and will be obligated to pay the difference between its highest bid and the next highest bidder. The next highest bidder at the next highest bid will be deemed the successful bidder. The highest bidder and/or the purchaser shall have no recourse against the grantor, the grantee, the Successor Trustee, its agent, or counsel for any of the foregoing.
This day: August 28, 2019
Michael Anthony Shaw, Esq.
201 S Biscayne Blvd, Suite 2600