NOTICE OF FORECLOSURE SALE
Default has occurred in the payment of the debts and obligations secured to be paid by a Tennessee Deed of Trust and Assignment of Rents and Leases dated September 16, 2013, by Richard E. Morgan and wife, Pamela P. Morgan (“Grantor”) of record at Book 716 Page 226, for the benefit of Triumph Bank (“Triumph”) to secure payment of a Promissory Note dated September 16, 2013, executed by Bluff City Sheet Metal, Inc., in the original principal amount of Four Hundred Thirty Thousand and no/100 Dollars ($430,000) (the “Deed of Trust”), in the Register’s Office of Hardeman County, Tennessee.
Triumph has appointed Patricia E. Adrian and/or Anita I. Lotz as Successor Trustees under the Deed of Trust, by Appointment of Successor Trustees recorded in said Register’s Office Instrument No. 167616 with all of the rights, powers and privileges of the original Trustee named in the Deed of Trust. All of the indebtedness secured by the Deed of Trust has matured upon demand of the owner thereof.
This is to give notice that Patricia E. Adrian and/or Anita I. Lotz, as Successor Trustee(s), or their agent(s), will on
September 11, 2018 commencing at 12:00 P.M. at the north door of the Madison County Chancery Court, in Jackson, Tennessee, proceed to sell at public outcry to the highest and best bidder for cash, the following described property, to-wit:
BEGINNING on a stake in a field, the northeast corner of Lot No. 3 of a plat of survey of a 5000 acre tract of land granted to Samuel Polk said tract lying and being in Madison and Hardeman Counties, Tennessee, and said survey being made by James McKnight and runs thence west 106-2/3 poles to a stake in Pigeon Creek with Chestnut and white oak pointers; thence north 150 poles to a post oak; thence east 106-2/3 poles to a stake in the east line of the aforesaid 5000 acre tract; thence south 150 poles to the point of beginning.
TOGETHER WITH EASEMENT PARCEL DESCRIBED AS FOLLOWS:
Also conveyed is the permanent easement right for ingress and egress to and from said real estate set forth in the final decree in Cause No. 34011, Madison County Chancery Court, entered October 7, 1983, said permanent easement over and across a strip of land 25 feet wide, 12-1/2 feet on each side of the centerline of the existing roadway, said centerline being described as follows:
BEGINNING at a point in the east margin of State Highway No. 138, said point being south 2 degrees 57 minutes east a distance of 13.6 feet from the northwest corner of the G. F. Lewis tract, as described in Deed Book 47, page 231; runs thence north 89 degrees east 377.0 feet to a point; thence north 89 degrees 58 minutes east 311.1 feet to a point; thence south 88 degrees 55 minutes east 176.2 feet to a point; thence north 88 degrees 32 minutes east 214.1 feet to a point; thence north 89 degrees 55 minutes east 200.9 feet to a point; thence south 87 degrees 58 minutes east 170.2 feet to a point; thence north 88 degrees 18 minutes east 230.0 feet to a point; thence south 83 degrees 21 minutes east 94.3 feet to a point in the east line of said G. F. Lewis tract, said point being 27 feet south of the northeast corner of the Lewis tract, and in the west line of the Pearl Lewis Byrum tract.
BEGINNING in the northeast corner of Lot No. 3 as designated on the plat of survey of a 5000 acre tract of land granted to Samuel Polk said tract lying and being in Madison and Hardeman Counties, Tennessee, and said survey being made by James McKnight and runs thence south 10 poles to a stake near Pigeon Creek; thence west 37 poles to a Chestnut blackgum and poplar pointers; thence north 10 poles to the northern boundary line of Lot No. 3; thence east 37 poles to the point of beginning.
Madison County property taxes for the year 2017 have been paid. Taxes for 2018 are not available.
As permitted by the Deed of Trust, this sale will also include all hereditaments and appurtenances owned by Grantor on the above-described real property.
The following information is believed to be correct but has not been verified:
Property Address: agricultural land; 2577 Highway 138
Prior Deed Ref.: Book 575, Page 106 and Book 575, Page 104, Register’s Office of Madison County, TN
Current Property Owner: Richard E. Morgan and wife, Pamela P. Morgan
Other Interested Parties: Any parties in possession of the property
Easement Parcel owner: Aubra Lehman Looney, III and Brenda Lynn Looney and Kenneth Martin Stewart, Trustees of The Looney Family Trust.
Easement Parcel Lender: FirstBank
As permitted in the Deed of Trust, the Lender or its designee may purchase the property at the sale. The right is reserved to adjourn the sale to another day, time and place certain without further publication, upon announcement at the time and place for the sale set forth above.
This sale shall be subject to: unpaid property taxes and assessments (plus penalties and interest); subdivision restrictions, building lines and easements of record (if any); and any prior liens or other prior encumbrances of record.
The equity of redemption, statutory right of redemption, or common law marital share, homestead, dower, curtsy and all other exemptions are expressly waived in the Deed of Trust, and the title is believed to be good, but the undersigned will sell and convey only as Successor Trustee(s).
Patricia E. Adrian
For Information Please Contact:
Patricia E. Adrian
Farris Bobango Branan PLC
999 S. Shady Grove Rd., Suite 500
Memphis, TN 38120