NOTICE OF SALE UNDER POWER
STATE OF GEORGIA
COUNTY OF FANNIN
Because of a default in the payment of the indebtedness evidenced by the Note (as hereinafter described), secured by a Deed to Secure Debt from William F. Bandy (hereinafter referred to as "Grantor") to Appalachian Community Bank dated October 24, 2008, filed for record in Deed Book 867, Page 13, in the Office of the Clerk of the Superior Court of Fannin County, Georgia (the "Security Deed"), the undersigned, Peoples Bank of East Tennessee, as successor-in-interest to Appalachian Community Bank, pursuant to said Security Deed and that certain Promissory Note from William F. Bandy to Peoples Bank of East Tennessee dated December 31, 2019 in the original principal amount of $228,708.41 (the "Note") has declared the entire amount of said indebtedness due and payable. Therefore, pursuant to and by virtue of the power of sale contained in the Security Deed, there will be sold by the undersigned at public outcry to the highest and best bidder for cash before the Courthouse door on the courthouse steps at Fannin County, Georgia, within the legal hours of sale on the first Tuesday in October, 2020, the following described property:
All that tract or parcel of land lying and being in 8th District and 2nd Section of Fannin County, Georgia, and being a part of Land Lot No. 241 and being more particularly described as follows:
BEGINNING at an iron pin located on the Northern right-of-way margin of the paved country road located in the Fannin County Industrial Development Park that is designated as Park Road, said iron pin being the Southwest corner of the property designated as Tract No. 8, herein conveyed, and the Southeast corner of the property designated as Tract No. 7, said iron pin being located North 55 deg 24' West a distance of 275.51 feet from the point of intersection of the centerline of Park Road and the centerline of the road designated as Farm Road; thence North 27 deg 20' East a distance of 255.51 feet to an iron pin located on or near the Southern margin of an old road; thence continuing North 27 deg 20' East a distance of 7.10 feet to a stake located in the center of the aforesaid old road, said stake being the Northwest corner of the property designated as Tract No. 8, herein conveyed, and the Northeast corner designated as Tract No. 7; thence in a Southeasterly direction and thence in a Northeasterly direction and thence Southeasterly direction along and with the centerline of the aforesaid old road to an iron pin located at the point of intersection of the centerline of the aforesaid old road and the Western right-of-way margin of the CNX Railroad (formerly the right-of-way of the L & N Railroad); thence in a Southwesterly direction along and with the Western right-of-way margin of the aforesaid railroad to an iron pin located at the point of intersection of the Western right-of-way margin of the aforesaid railroad and the Northern right-of-way margin of Park Road; thence in a Northwesterly direction along and with the Northern right-of-way margin of Park Road to the point of beginning, together with all fixtures and personal property attached to and constituting a part of said property, and replacements and additions.
The above-described property is designated as Tract No. 8 and Tract No. 9 in the Fannin County Industrial Development Authority.
This being the same property conveyed unto William F. Bandy by Warranty Deed from Fannin County Industrial Development Authority, dated April 30, 1996, and recorded May 7, 1996 in Deed Book 245, Page 135, in the Office of the Clerk of Superior Court for Fannin County, Georgia.
TOGETHER WITH all of the buildings, building materials, fixtures and improvements on, in and to the property and all easements, rights, rents, royalties, mineral, oil and gas rights, profits and water rights.
The indebtedness secured by the Security Deed has been and is hereby declared due and payable because of, among other possible events of default, failure to pay the indebtedness when due and in the manner provided in the Note. The indebtedness remaining in default, the sale will be made for the purpose of applying the proceeds thereof to the payment of the indebtedness secured by the Security Deed, accrued interest and expenses of the sale, and all other payments provided for under the Security Deed, including permitted attorneys' fees as provided in the Note and Security Deed, notice of intention to collect attorneys' fees and expenses of the foreclosure having been given as provided by law and as provided by the terms of the Security Deed; and the remainder, if any, shall be applied as provided by law.
To the best knowledge and belief of the undersigned, William F. Bandy is in possession of said property. Said property will be sold subject to any prior restrictive covenants, easements, rights-of-way, valid zoning ordinances, matters which would be disclosed by an accurate survey of the property or by an inspection of the property, and any liens or encumbrances superior to the Security Deed first set out above, and subject to all outstanding taxes, assessments, water, waste, and utility bills which may constitute a lien against said property, whether due and payable or not yet due and payable. This sale will be conducted as set forth herein subject to (1) confirmation prior to the sale that the sale is not prohibited under the U.S. Bankruptcy Code and (2) final confirmation and audit prior to the sale of the status of the loan with the holder of the Security Deed.
Grantee reserves the right to sell the property in one parcel or as an entirety, or in such parcels as Grantee may elect, as permitted in the Security Deed. Pursuant to O.C.G.A. . 9-13-172.1, which allows for certain procedures regarding the rescission of judicial and non-judicial sales in the State of Georgia, the Deed Under Power and other foreclosure documents may not be provided until final confirmation and audit of the status of the loan as provided immediately above.
The following information is being provided in accordance with O.C.G.A. . 44-14-162.2. Peoples Bank of East Tennessee hereby notifies Grantor that Peoples Bank of East Tennessee remains the holder of the security interest set forth in the Security Deed. Grantor may communicate with The Peoples Bank of East Tennessee by contacting Mr. Doug Richesin, Peoples Bank of East Tennessee, P. O. Box 128, Madisonville, Tennessee 37354, or by telephone at (423) 337-6400. Mr. Richesin has full authority to negotiate, amend, and modify all terms of the Security Deed with Grantor. O.C.G.A. . 44-14-162.2 states in pertinent part that, "nothing in this subsection shall be construed to require a secured creditor to negotiate, amend, or modify the terms of a mortgage instrument".
PEOPLES BANK OF EAST TENNESSEE,
as Attorney-in-Fact for WILLIAM F. BANDY
By: Thomas E. Austin, Jr.,
Attorney for Peoples Bank of East Tennessee
Thomas E. Austin, Jr., LLC
2625 Piedmont Road, N.E.
Atlanta, Georgia 30324-3086
THIS LAW FIRM IS ACTING AS A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.