NOTICE OF FORECLOSURE
WHEREAS, default having been made in the payment of the debt and obligations, and in the terms and conditions provided for in that certain Tennessee Deed of Trust (the “Original Deed of Trust”), dated September 26, 2011, to CIT BANK (referred to as “Lender” or sometimes as “Beneficiary”) and TIMOTHY D. RAINEY (referred to as “Trustee”), executed by OBA, LLC (the “Grantor”), as same appears of record as Instrument No. 125821, Hardeman County Register’s Office; and as amended by that certain Tennessee Deed of Trust (the “Amended Deed of Trust”) dated October 26, 2011, as same appears of record as Instrument No. 126456 in said Register’s Office.
WHEREAS, READYCAP LENDING. LLC, the present owner and holder of said indebtedness, is beneficiary under the Assignment of and Assumption of Interests and Obligations; and
WHEREAS, the entire indebtedness secured by the above referenced Assignment has been accelerated and is past due and unpaid; and,
WHEREAS, by instrument dated July 23, 2020, and of record as Instrument No. 201465, filed July 30, 2020 with the Hardeman County Register’s Office, the owner and holder of the debt secured by said Deed of Trust (hereinafter sometimes referred to as “Secured Party”) appointed Henry C. Shelton, III and/or T. Jay Campbell of Adams and Reese LLP as Trustee, in accordance with the provisions contained in said Deed of Trust; and,
NOW, THEREFORE, Henry C. Shelton, III as Trustee, acting upon the request of the owner and holder of the debt secured by said Deed of Trust, and by virtue of the power, duty and authority vested in him as Trustee, gives notice that he will on: Thursday, August 27, 2020, commencing at 10:00 a.m., at the front steps of the Hardeman County Courthouse, located at 100 N. Main Street, in Bolivar, Tennessee, 38008, proceed to sell at public auction to the highest bidder for cash, and free from all equities of redemption, the statutory right of redemption, homestead, dower, and all other rights or exemptions of every kind, all of which are expressly waived in said Deed of Trust, the following described real and personal property in Shelby County, Tennessee (the “Mortgaged Property” or the “Land”), which Mortgaged Property may be sold in whole or in part, to-wit:
The following described real property and improvements located at 4215 Winward Farms Loop Middleton, Tennessee in Hardeman County, Tennessee:
Description of the OBA, LLC property recorded in Book P17, Page 299 in the 5th Civil District of Hardeman County, Tennessee: Beginning at a found cotton picker spindle in the existing pavement in Winwood Farms Loop, said point being the southwest corner of said property recorded in Book P17, Page 299, in the north line of The Gurley Companies LP property recorded in Book 20, Page 331 and being on TCS 1983 (N-255922.84, E-1102026.11); thence northeastwardly along the west and north line of said property recorded in Book P17, Page 299 and with the existing pavement in said Windwood Farms Loop the following calls: north 34 degrees 22 minutes 41 seconds east, 383.46 feet to a point; north 31 degrees 56 minutes 50 seconds east, 154.27 feet to a point; north 27 degrees 08 minutes 35 seconds east, 186.74 feet to a point; north 29 degrees 00 minutes 49 seconds east, 169.74 feet to a found cotton picker spindle; north 61 degrees 08 minutes 52 seconds east, 56.48 feet to a point; north 65 degrees 27 minutes 32 seconds east, 49.66 feet to a point; north 75 degrees 51 minutes 01 seconds east, 70.22 feet to a point; north 83 degrees 24 minutes 10 seconds east, 69.87 feet to a point: north 89 degrees 40 minutes 59 seconds east, 192.42 feet to a set cotton picker spindle at the northeast corner of said property recorded in Book P17, Page 299 and the northwest corner of the Miller Lumber Company Inc. property recorded in Book V17, Page 30; thence southwestwardly along the east line of said property recorded in Book P17, Page 299 and along the west line of said property recorded in Book V17, Page 30 the following calls; south 01 degrees 39 minutes 11 seconds west, 211.81 feet to a set metal fence post; south 02 degrees 56 minutes 28 seconds west, 655.84 feet to a point (found metal post 1.30 feet south) at the southeast corner of said property recorded in Book P17, Page 299, the southwest corner of said property recorded in Book V17, Page 30 and in the north line of said property recorded in Book 20, Page 331; thence north 87 degrees 56 minutes 32 seconds west along the south line of said property recorded in Book P17, Page 299 and along the north line of said property recorded in Book 20, Page 331, 851.02 feet to the POINT OF BEGINNING and containing 11.81 acres of land.
All bearings are based on the Tennessee Coordinate System of 1983.
Being the same property conveyed to OBA, LLC by Warranty Deed of record in Book P17, Page 299 of the Register’s Office of Hardeman County, Tennessee.
Property Address: 4215 Winward Farms Loop, Middleton, TN 38052.
Parcel Number: 192-00802-000
Together with any improvements, equipment and fixtures existing or hereafter placed on or attached to the real property, all proceeds thereof and all other appurtenant rights and privileges (all of the foregoing shall be referred to herein as the “Property” or the “Premises”).
Together with all of Debtor’s present and future right, title and interest and claim to the Property.
Said sale shall be subject to any unpaid taxes, mortgages, liens, encumbrances, easements, restrictions and other matters of record or otherwise that are prior in right to the lien of the said Deed of Trust.
Trustee will make no covenant of seisin or warranty of title, express or implied, and will sell and convey the subject real property by Successor Trustee’s Deed, as Successor Trustee only.
The right is reserved to adjourn the day of sale to another day and time certain, without further publication and in accordance with law, upon announcement of said adjournment on the day and time and place of sale set forth above.
If the highest bidder cannot pay the bid within twenty-four (24) hours of the sale, the next highest bidder, at their highest bid, will be deemed the successful bidder.
This property is being sold with the express reservation that the sale is subject to confirmation by the lender or trustee. This sale may be rescinded at any time.
This 30th day of July, 2020.
/s/ Henry C. Shelton, III, Trustee
Adams and Reese LLP
6075 Poplar Avenue, Suite 700
Memphis TN 38119