[email protected] november 1, 2017 phone: (434) 979-1400 fax: (434) 977-5109 530 east main...
TRANSCRIPT
FORECLOSURE SALE OF VALUABLE REAL ESTATE
AT PUBLIC AUCTION
THIS PROPERTY IS COMPRISED OF 0.98 ACRE LOT WITH FAMILY DOLLAR STORE
RUCKERSVILLE, VAGreene Tax Map No. 66-A-20(B)
HMDftOUIIK
SALE: FRIDAY, DECEMBER 1, 2017, AT 11:00 A.M.
AT THE GREENE COUNTY CIRCUIT COURTHOUSE
22 COURT STREET, STANARDSVILLE, VA
LENHARTPETTIT
ATTORNEYS
AT LAW
Nancy R. SchlichtingAttorney at Law
Direct: (434) [email protected]
November 1, 2017
Phone: (434) 979-1400
Fax: (434) 977-5109530 East Main Street
P.O. Box 2057
Charlottesville, Virginia 22902
Dear Sir/Madam:
I enclose a copy of the sale ad regarding property for which we will be conductinga foreclosure sale at public auction on Friday, December 1, 2017, at 11:00 a.m., at 22Court Street Stanardsville, Virginia.
I do not know what the foreclosure sale price for this property will be, since it willbe a sale at public auction. The 2017 Greene County tax assessed value is $1,079,900.00.
I believe this will be a great investment and encourage you to attend the auction.
Please do not hesitate to call me with any questions about this fantasticinvestment opportunity.
NRS:lmg
Enclosure
Very truly yours,
Nancy R. Schlichting
wvw.lplaw.com
Charlottesville I Harrisonburg
TABLE OF CONTENTS
Sale Ad: Terms of Sale
Plat
Current Deed of Trust
Sample Foreclosure Auction Contract
Nancy R. SchlichtingLenhart Pettit
530 East Main Street
P.O. Box 2057
Charlottesville, VA 22902Telephone: (434) 220-6108Fax: (434)[email protected]
FORECLOSURE SALE OF VALUABLE REAL ESTATE
AT PUBLIC AUCTION
0.978 ACRE LOT WITH FAMILY DOLLAR STORE
Tax Map No. 66-A-20(B)
SALE: FRIDAY, DECEMBER 1, 2017 AT 11:00 A.M.AT THE GREENE COUNTY CIRCUIT COURTHOUSE
In execution of a Deed of Trust, being dated July 30, 2015, and recorded on August 5, 2015, in the
Clerk's Office of the Circuit Court in Greene County, Virginia, in Deed Book 1474, Page 07, the undersigned as
Trustee under said Deed of Trust, will offer for sale at public auction the parcels listed below:
PROPERTY ADDRESS: U.S. ROUTE 29 (NORTHBOUND LANE),RUCKERSVILLE DISTRICT, GREENE COUNTY, VIRGINIA.
ALL of that certain lot or parcel of land, together with all buildings andimprovements thereon, lying and being in Ruckersville Magisterial District,Greene County, Virginia, designated as "Lot B," containing 0.978 acres, on platof survey entitled "Subdivision Plat Parcel 66(A)20, Lot B, Cornerstone Plaza,Formerly Ben Lake Plaza, etc.," dated June 11, 2015, prepared for Joseph A.Troilo, Jr., by W. M. Clisso, L.S., recorded on July 1, 2015 on Plat Card 5016 inthe Clerk's Office of the Circuit Court of Greene County, Virginia.
Being the same property conveyed to Joseph Anthony Troilo, Jr. and Patricia C.Troilo, husband and wife, as tenants by the entireties with full common law rightsof survivorship by Deed from C. W. Properties, L.L.C., a Virginia limited liabilitycompany dated January 15, 2014, recorded January 22, 2014, in Deed Book 1425,Page 349, in the Clerk's Office of the Circuit Court of Greene, Virginia.
Tax Map No.: 66-A-20(B)
(the "Property")
TERMS OF SALE: A bidder's deposit of the greaterof $100,000 or 10% of the winning bid, shall be
paid at the sale by cashier's check made payable to Bidder (to be assignedto Trustee if Bidder is successful),with
the balance upon delivery of a trustee's deed within 30 days of sale. If the initial deposit is less than 10% of the
winning bid, then the successful bidder's deposit MUST be increased to 10% of the winning bid by cashier's
check or wired funds within three (3) business days. Settlement shall be held within 30 days after the date of sale
unless otherwise postponed at the sole discretion of the Trustee. Sale is subject to the covenants, conditions,
restrictions, rights of way, and easements, if any, contained in the deeds and other documents forming the chain of
title to the property. Property is sold "AS IS, WHERE IS," "WITH ALL FAULTS" and "WITH
ABSOLUTELY NO WARRANTIES."
TIME SHALL BE OF THE ESSENCE WITH RESPECT TO SETTLEMENT. The deposit shall be
applied to the credit of successful bidder at settlement; or, in the event of failure to complete settlement within the
time set forth after the date of sale, in accordance with the terms of sale, the deposit shall be forfeited and applied
to the costs of sale, including Trustee's fee, and the Property shall be resold at the cost and expense of the
defaulting Purchaser. Risk of loss or damage to the Property shall be borne by successful bidder from the time of
auctioneer's strikedown at the sale. Purchaser shall pay all settlement fees, title examination charges, title
insurance premiums, and recording costs. Current real estate property taxes will be prorated at closing as of date
of sale. Rollback taxes, if any, will be the responsibility of the Purchaser.
THE TRUSTEE RESERVES THE RIGHT: (i) to waive the deposit requirements; (ii) to extend the
period of time within which the Purchaser is to make full settlement; (hi) to withdraw the Property from sale at
any time prior to the termination of the bidding; (iv) to keep the bidding open for any length of time; (v) to reject
all bids; and (vi) to postpone or continue this sale from time to time, such notices ofpostponement or setting over
shall be in a manner deemed reasonable by the Trustee. Announcements made on day of sale take precedence
over all other advertised terms and conditions.
FOR INFORMATION SEE: www.lplaw.com/foreclosurcs
Lenhart Pettit PC, TrusteeNancy R. Schlichting530 E. Main Street
P. O. Box 2057
Charlottesville, VA 22902(434)[email protected]
Greene Tax Map No. 66-A-20(B)
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Map/ID# 66-A-20
THIS INSTRUMENT PREPARED BY AND RETURN TO: Jonathan K. Hansen, Attorney Hansen Black Anderson Ashcraft PLLC 3051 West Maple Loop Drive, Suite 325 Lehi, Utah 84043
DEED OF TRUST AND SECURITY AGREEMENT
.,.•.001733
11111111111111111111111111111111111111111111111111111111111111111111111111111111 Doc ID: 000382010014 Type: DEE Kind: DEED OF TRUST Recorded: 08/05/2015 at 02:05:00 PM Pa~e 1 of 14 Greene Co VA Circuit Court Clerk of Circuit Court Clerk Book 1474 Pa~e 7 - 20
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THIS DEED OF TRUST AND SECURITY AGREEMENT (this "Trust") is entered into as of July 30, 2015.
AMONG:
Hamilton Propetiies, LLC, a Tennessee limited liability company, of PO Box 16126, Chattanooga, Tennessee 37416 (the 'Trustor") OF THE FIRST PART
AND
Sundance Debt Partners, LLC, a Utah limited liability company, of 1508 Nmih Technology Way, Building D, Suite 0100, Orem, Utah 84097 (the "Beneficiary") OF THE SECOND PART
AND
Seth E. Twety, PC, of715 Cowt Street, Lynchbutg, Vitginia 24505 (the "Tmstee") OF THE THIRD PART
Background
A. The Trustor, being registered as owner of the estate in the following described propetiy
(the "Propetiy") located in Greene County, Commonwealth of Virginia, United States with the
following legal description:
TAX ID: PORTION OF 66-A-20
PROPERTY ADDRESS: US ROUTE 29 (NORTHBOUND LANE), RUCKERSVILLE DISTRICT, GREENE COUNTY, VIRGINIA.
ALL OF THAT CERTAIN LOT OR PARCEL OF LAND, TOGETHER WITH ALL BUILDINGS AND IMPROVEMENTS THEREON, LYING AND BEING IN RUCKERSVILLE MAGISTERIAL DISTRICT, GREENE COUNTY, VIRGINIA, DESIGNATED AS "LOT B", CONTAINING 0.978 ACRES, ON PLAT OF SURVEY ENTITLED "SUBDIVISION PLAT PARCEL 66(A)20, LOT B, CORNERSTONE PLAZA, FORMERLY BEN LAKE PLAZA, ETC.", DATED JUNE II, 2015, PREPARED FOR
i47 4' PAGE 07
JOSEPH A. TROILO, JR. BY W. M. CLISSO, L.S., RECORDED ON JULY I, 2015 ON PLAT CARD 5016 IN THE CLERK'S OFFICE OF THE CIRCUIT COURT OF GREENE COUNTY, VIRGINIA.
BEING THE SAME PROPERTY CONVEYED TO JOSEPH ANTHONY TROILO, JR. AND PATRICIA C. TROILO, HUSBAND AND WIFE, AS TENANTS BY THE ENTIRETIES WITH FULL COMMON LAW RIGHTS OF SURVIVORSHIP BY DEED FROM C. W. PROPERTIES, L.L.C., A VIRGINIA LIMITED LIABILITY COMPANY DATED JANUARY 15, 2014, RECORDED JANUARY 22, 2014 IN DEED BOOK 1425, PAGE 349 IN THE CLERK'S OFFICE OF THE CIRCUIT COURT OF GREENE, VIRGINIA.
B. Any buildings or structures on the Property and anything now or later attached or fixed to
the buildings or the Property including additions, alterations and improvements located on,
above or below the surface of the Prope1ty are covered by this Trust. However, no additions,
alterations or improvements will be made by the Trustor without the Beneficiary's prior
written consent. Any addition, alteration or improvement will be subject to all recorded
easements, rights of way, conditions, encumbrances and limitations, and to all applicable
building and use restrictions, zoning laws and ordinances, if any, affecting the Prope1ty.
IN CONSIDERATION OF the sum lent to the Trustor by the Beneficiary, in the amount of
$1,358,500.00 U.S. DOLLARS (the "Principal Amount"), the receipt of which the Trustor
does hereby acknowledges itself indebted, the parties to this Trust agree as follows:
U.C.C. Security Agreement
I. It is agreed that if any of the Property herein trusted is of a nature so that a security
interest in the Property can be perfected under the Uniform Commercial Code, this
instrument will constitute a Security Agreement and Trustor agrees to join with the
Beneficiary in the execution of any financing statements and to execute any and all other
instruments that will be required for the perfection or renewal of such security interest
under the Uniform Commercial Code.
Governing Law
2. This Trust will be governed by both the law of Virginia and any applicable federal law ("Applicable Law"). All rights and obligations contained in this Trust are subject to any requirements and limitations of Applicable Law.
BOOK14 7 4 PAGE 08
MATTERS RELATING TO PAYMENT
Promise to Pay - Secured Indebtedness
3. The Trustor, for value received, promises to pay to the Beneficiary, on demand, the Principal Amount, interest and all fees and costs on the terms set out in this Trust or in any amendment, extension or renewal of the Trust and any additional amounts seemed by this Trust on the terms elsewhere provided for such debts and liabilities. This Deed of Trust secures payment of all amounts and performance of all obligations under that certain Secured Promissory Note (the "Note") dated July 30, 2015 by and between Trustor and Beneficiary with respect to the Property. All of the foregoing obligations are sometimes collectively herein referred to as the "Indebtedness."
Terms of Payment and Interest
4. The Trustor agrees to pay the Indebtedness upon the date provided for in the Note
(the "Maturity Date"). The Indebtedness shall not bear interest unless and until an
event of default occurs under the Note, in which event interest on the entire
outstanding balance shall accrue at the rate of twenty-two percent (22%) per annum
until paid.
Place of Payment
5. The Trustor will make all payments required under the Note to the Beneficiary at or directed to Beneficiary's address set fmih above or at a location later specified by the Beneficiary.
Obligation to Pay without Set-off or Delay
6. The Trustor agrees to pay all amounts payable pmsuant to this Trust and the Note and all
additional amounts secured by this Trust without abatement, set-off or counterclaim.
Should the Trustor make any claim against the Beneficiary either initially or by way of
abatement, set-off or counterclaim, the Trustor agrees that any such claim will not
diminish or delay its obligations to make the payments as provided in this Trust.
Application of Payments and Interest after Default
BDDK14 7 4 PACE 09
7. All payments received by the Beneficiary will first be applied in payment of the interest,
fees and other costs accrued under the Note and second in payment of the Principal
Amount.
Prepayment Privileges
8. Trustor may, at any time prepay the full outstanding balance in accordance with the
terms set forth in the Note.
Discharge
9. When the Trustor pays the Principal Amount, interest and all the other amounts secured
by this Trust in full and notifies the Beneficiary in writing, the Beneficiary will execute a
Deed or Reconveyance and record it to clear the title to the Propetiy. The Trustor will
give the Beneficiary a reasonable time after payment in which to prepare and issue the
Deed of Reconveyance.
Covenants and Warranties
I 0. The Trustor warrants and agrees that:
a. the Trustor has good title to the Property;
b. the Trustor has the authority to trust the Property;
c. on default, the Beneficiary will have quiet possession of the Propetty;
d. the Property is free from all encumbrances;
e. the Trustor will execute further assurance of the Propetty as will be required; and
f. the Trustor has not done any act to encumber the Propetiy.
II. In accordance with that cetiain Deed of Lease dated August 12, 2014 (the "Lease
Agreement") between Trustor or its affiliate and Family Dollar Stores of Virginia, Inc., a
Virginia corporation ("Tenant"), Tmstor shall or shall cause Tenant to maintain the
BOOK14 7 4 PAC£ 10
Property in good condition and repair, shall not commit or suffer any waste to the Property,
and shall comply with, or cause to be complied with, all restrictive covenants, statutes,
ordinances and requirements of any governmental authority relating to the Property and the
use thereof or any part thereof. Subject to the Lease Agreement, Trustor shall or shall cause
Tenant to promptly repair, restore, replace or rebuild any patt of the Property, now or
hereafter encumbered by this deed, which may be affected by any proceeding. No patt of
the Propetty, including, but not limited to, any building, structure, parking lot, driveway,
landscape scheme, timber or other ground improvement, equipment or other propetty, now
or hereafter conveyed as security by or pursuant to this Trust, shall be removed, demolished
or materially altered without the prior written consent of Beneficiary. Ttustor shall
complete, within a reasonable time, and pay for any building, structure or other
improvement at any time in the process of construction on the propetty herein conveyed.
Ttustor shall not initiate, join in or consent to any change in any private restrictive
covenant, zoning ordinance or other public or private restrictions limiting or defining the
uses which may be made of the Propetty or any part thereof. Subject to the Lease
Agreement, Beneficiary and any persons authorized by Beneficiary shall have the right to
enter and inspect the Propetty at all reasonable times and access thereto shall be permitted
for that purpose
Fixtures and Additions
12. The Trustor agrees that the Property includes all property of any kind that is now or at
any time in the future attached or fixed to the land or buildings or placed on and used in
connection with them, as well as all alterations, additions and improvements to the
buildings.
Payment of Taxes and Other Encumbrances
13. The Trustor will pay all taxes and other rates levied on the Property and all accounts for
utilities supplied to the Property and all charges, trusts, liens and other encumbrances on
the Property when they are due and comply with its other obligations under them. Upon
the Beneficiary's request, the Trustor will immediately give receipts showing that the
taxes and other accounts have been paid.
BOOK14 7 4 PAGE 11
No Sale or Encumbrance Without Consent
14. Neither the Trustor nor the Trustee will sell, transfer, lease (other than pursuant to the
Lease Agreement) or otherwise dispose of all or any patt of the Pro petty or any interest
in the Property or permit a change in control without the Beneficiary's prior written
approval, unless the Indebtedness is paid in full from the proceeds of any such sale,
transfer or release.
In addition, as an express condition of Beneficiary making the loan secured by this
Trust, Trustor shall not further encumber, pledge, mmtgage, hypothecate, place any
lien, charge, or claim upon, or otherwise give as security the Propetty or any interest
therein nor cause or allow by operation of law the encumbrance of the Property or any
interest therein without the written consent of Beneficiary even though such
encumbrance may be junior to the encumbrance created by this Trust. Encumbrance of
the Propetiy contrary to the provisions of this paragraph without the express written
consent of Beneficiary shall constitute a default hereunder and at Beneficiary's option,
Beneficiary may declare the entire balance of principal and interest secured hereby
immediately due and payable, whether such default is created by Trustor or an
unaffiliated third patty asserting a judgment lien, mechanic's or materialmen's lien or
any other type of encumbrance or title defect; provided that Beneficiary shall not
exercise such option if such exercise is prohibited by applicable law.
Property Insurance
15. Trustor will insure in the Beneficiary's favor all buildings on the Propetty that are the
subject of the Trust. The insurance will include protection against damage by fire and
other perils including "extended peril coverage" and any other perils that the Beneficiary
requests. The insurance must cover replacement costs of any buildings on the Propetty in
US dollars. The Trustor will choose the insurance company subject to the Beneficiary's
right to disapprove. The insurance policies will include a standard trust clause stating
that any loss is payable to the Beneficiary. This Trust will be enough proof for any
insurance company to pay any claims to the Beneficiary and to accept instructions from
the Beneficiary regarding any insurance claims.
16. The Trustor will provide the following at the request of the Beneficiary:
BOOK14 7 4 PACE 12
a. a copy of the insurance policy;
b. receipts of all paid insurance premiums; and
c. renewal notices and evidence of renewal completion.
17. In the event of loss, the Trustor will provide prompt notice to the Beneficiary and the
insurance carrier. The Trustor will provide the Beneficiary with proof of all claims at the
Trustor's own expense and do all necessary acts to enable the Trustor to obtain all
insurance proceeds from the claim. The insurance proceeds, in whole or in part, will be
applied to the restoration and repair of the Property, if the restoration and repair is
economically feasible. If the restoration and repair is not economically feasible, the
insurance proceeds will be applied to the remainder of the Trust, whether or not the
balance of the Trust is then due. Any remaining funds from the insurance claim will be
paid to the Trustor.
Repair, Vacancy and Maintenance of the Property
18. The Trustor will maintain the Prope1ty in good order, condition and repair and will
promptly make all necessary repairs, replacements, and improvements. The Trustor will
not allow the Property to become or remain vacant without the written consent of the
Beneficiary. The Trustor will not commit waste and will not remove, demolish or
materially alter the Property or any part of it without prior written consent from the
Beneficiary. The Beneficiary may, whenever necessary, enter upon and inspect the
Property. If the Trustor, or anyone claiming under the Trustor, neglect to keep the
Prope1ty in good condition and repair, or commit any act of waste on the Property, or do
anything by which the value of the Property is diminished, as to all of which the
Beneficiary will be sole judge, the Beneficiary may (but is not obliged to) enter the
Property and effect such repairs or work as it considers necessary and in such event, the
Beneficiary may charge the cost of such repairs to the Trustor plus a management fee in
the amount of ten percent (I 0%) of such costs.
Environmental Hazards
19. The Trustor will not use, store, release, deposit, recycle, or permit the presence of hazardous substances on the Property, generally accepted items for residential use excepted, which includes but not limited to asbestos, PCBs, radioactive materials, gasoline, kerosene, or other flammable petroleum products (the "Hazardous Substances"). The Trustor is also prohibited from performing any acts on the Prope1ty
BOOK14 7 4 PACE 13
involving any Hazardous Substances that would materially affect the value of the Property or would require clean-up or remedial action under federal, state, or local laws and codes.
DEFAULT AND REMEDIES
Trustor Right to Quiet Possession
20. Until default by the Trustor under this Trust, the Trustor will have quiet possession and receive the rents and profits from the Property.
Events of Default
21. The Trustor will be in default under this Trust upon the happening of any of the following events (each, an "Event of Default"):
a. if the Trustor defaults in the payment of the Principal Amount, interest or any
other amount secured by this Trust, when payment of such amount becomes due
under the terms of this Trust or as elsewhere provided for any other amount
secured by this Trust;
b. if the Trustor defaults in the observance or performance of any term or covenant
which the Trustor has agreed to observe or perform under this Trust, the Note,
any other document entered into in conjunction therewith, or elsewhere;
c. if any information or statement the Trustor has given or made before, at or after
signing the Trust, in respect of the Property or the Trustor's affairs is incorrect
or untrue at the time it was given or made;
d. if the Trustor ceases or threatens to cease to carry on in a sound businesslike
manner, the business in which the Trustor ordinarily conducts on, or with
respect to all or any part of, the Propetty;
e. if the Property is a condominium unit or units, a vote authorizes termination of
the condominium or the sale of all or substantially all of the condominium
corporation's assets or its common elements or the condominium corporation
fails to insure the unit and common elements;
BODK1474 PAGE 14
f. if a petition in bankruptcy is filed against the Trustor, if the Trustor make a
general assignment for the benefit of the creditors, if a receiver, interim receiver,
monitor or similar person is placed or is threatened to be placed in control of or
for the overview of the Trustor's affairs or Property, or in the opinion of the
Beneficiary, the Trustor becomes insolvent;
g. if a construction or similar lien is registered against the Property or if default
occurs under any other lien, trust or other encumbrance existing against the
Property;
h. if the Trustor abandons or does not visibly and consistently occupy the Property;
1. if the Propetiy or a material pati of the Property is expropriated; or
J. if any event of default occurs under the Note.
Acceleration on Default
22. If at any time the Trustor should be in default under this Trust, then the Principal
Amount, interest and all amounts secured by this Trust will, at the option of the
Beneficiary, become due and payable immediately.
23. If at any time the Trustor is in default and the Beneficiary does not require the Trustor
to pay immediately in full as described above, the Beneficiary will retain the right to
seek full immediate payment if the Trustor is in default at a later time. Any forbearance
on the patt of the Beneficiary upon default, which includes but not limited to acceptance
of late payment, acceptance of payment from third patiies, or acceptance of payments
less than the amount then due, will not constitute as waiver to enforce acceleration on
default.
24. In the event that the Beneficiary elects to accelerate the Trust, the Beneficiary will
provide notice to the Trustor in accordance with Applicable Law.
BOOK14 7 4 PAGE 15
Additional Charges
25. The Trustor may be charged with fees in association with the default of this Trust or for
the protection of the Beneficiary's interest for this Trust, which may include, but is not
limited to attorneys' fees and property inspections (the "Additional Fees"). The absence
of specific charges which may be levied against the Trustor in this Trust does not
preclude the Beneficiary from charging such costs as Additional Fees. However, the
Beneficiary will not charge any fees which are prohibited by Applicable Law and the
Beneficiary will not charge any fees above and beyond the amount or percentage
allowed under the Applicable Law. Any amount disbursed by the Beneficiary in relation
to the protection of the Beneficiary's security will become Additional Fees payable by
the Trustor. The Additional Fees will carry an interest rate of twenty-two percent (22%)
per annum. The Additional Fees' total including interest will become due upon written
request by the Beneficiary.
Protection of Beneficiary's Security
26. If at any time the Trustor should fail to uphold the covenants in this Trust, or if a legal proceeding commences which· materially affects the Beneficiary's interest in the Prope1ty, the Beneficiary may pay or perform any reasonable action as necessary to protect the Beneficiary's interest, which includes, but is not limited to:
a. payment of insurance premiums and taxes, levies, accruing against the Property;
b. payment of sums due secured by a prior lien which has priority over this Trust;
c. payment of legal fees in relations to any legal proceedings or legal costs arising from the Property; and
d. payment of reasonable costs in repairing and maintaining the Prope1ty.
27. Any action referred to in this section is optional for the Beneficiary and the Beneficiary has no duty or obligation to carry out any of the remedies listed in this section and will not incur any liability in the failure to perform such tasks.
28. Any amount disbursed by the Beneficiary in relation to the protection of the Beneficiary's security will become Additional Fees payable by the Trustor.
BOOK1474 PAGE 16
Power of Sale 29. If at any time the Trustor should be in default under this Trust, the Beneficiary will have
the right to foreclose and force the sale of the Property without any judicial proceeding. Any delay in the exercising of this right will not constitute as waiver on the part of the Beneficiary to exercise this option at a subsequent time should the Trustor remains in default or if the Trustor becomes default again in the future.
Remedies on Default
30. The Beneficiary will have the right to pursue all remedies for the collection of the amounts owing on this Trust that are provided for by Applicable Law (both federal and state), whether or not such remedies are expressly granted in this Trust, including but without limitation foreclosure proceedings. As additional security, Trustor hereby assigns Beneficiary, during the continuance of these trusts, all rents, issues, royalties, and profits of the Property and of any personal property located thereon. Until the occurrence of an Event of Default, Trustor shall have the right to collect all such rents, issues, royalties, and profits earned prior to such Event of Default as they become due and payable. If any Event of Default shall occur, Trustor's right to collect any of such moneys shall cease and Beneficiary shall have the right, with or without taking possession of the Property, to collect all rents, royalties, issues and profits. Failure or discontinuance of Beneficiary at any time or from time to time to collect any such moneys shall not in any manner affect the subsequent enforcement by Beneficiary of the right, power, and authority to collect the same. Nothing contained herein, nor the exercise of the right by Beneficiary to collect, shall be, or be construed to be, an affirmation by Beneficiary of any tenancy, lease or option, nor an assumption of liability under, nor a subordination of the lien or charge of this Trust to any such tenancy, lease or option. Trustor agrees that it will not collect rent on the Property more than one month in advance or lease the Property other than on commercially reasonable terms.
31. If the Beneficiary invokes the power of sale, the Beneficiary will cause the Trustee to execute a written notice of the Event of Default and the Beneficiary's election to sell the Property. The Beneficiary or the Trustee will mail copies of the notice as prescribed by Applicable Law to Trustor and other persons as required by Applicable Law. The Trustee will give public notice of sale to the Trustor in the manner provided for by Applicable Law. After the time required by Applicable Law, the Trustee, without demand on the Trustor, will sell the Propetty at public auction to the highest bidder, at the time and place and subject to the terms indicated in the notice of sale. The Trustee may postpone sale of the Propetty by public announcement at the time and place of any scheduled sale.
BOOK14 7 4 PAGE 17
MISCELLANEOUS MATTERS
Interpretation and Headings
32. Headings are inserted for the convenience of the parties to the Trust and are not to be considered when interpreting this Trust. Words in the singular mean and include the plural and vice versa. Words in the masculine gender mean and include the feminine gender and vice versa. Words importing persons include firms and corporations and vice versa.
Severability
33. If any provision of this Trust will be held invalid or be prohibited by the Applicable Law, such provision will not invalidate the remaining provisions of this Trust and such provisions of the Trust will be amended or deleted as necessary to comply with the Applicable Law.
34. Nothing contained in this Trust will require the Trustor to pay or for the Beneficiary to accept interest in an amount greater than that allowed by Applicable Law. If the payment of interest or other amounts under this Trust would otherwise exceed the maximum amount allowed under Applicable Law or violate any law as to disclosure or calculation of interest charges, then the Trustor's obligations to pay interest or other charges will be reduced or amended to the maximum rate or amount permitted under Applicable Law.
Joint Signatures
35. If the Trustor is more than one person or legal entity, each person or legal entity who signs it will be jointly and severally bound to comply with all covenants and obligations of the Trustor and the said covenants and obligations will bind all of the Trustor's successors and permitted assigns. The Trust will inure to the benefit of the Beneficiary and the Beneficiary's successors and assigns.
Statutory Covenants
36. The covenants contained in this Trust are additional and supplemental, to the extent permitted by law, the covenants set out in the Applicable Law regarding trusts.
Substitute Trustee
37. The Beneficiary may, at its option, from time to time appoint a new Trustee by an instrument executed and acknowledged by the Trustor and recorded in the office of the Recorder of the county in which the Property is located. The instrument will contain the name of the original Beneficiary, Trustee, and Trustor, the book and page where the Trust
BOOK14 7 4 PACE 18
is recorded and the name and address of successor trustee. The successor trustee will succeed to all the title, powers, and duties conferred upon the Trustee.
Demands and Notices
38. Any notice given by either patiy in this Trust must be in writing. Unless otherwise
provided in this Trust or prohibited by law, where this Trust allows or requires the
Beneficiary to make a demand on or give a notice to any person (including the Trustor),
the Trustor will make the demand or give the notice by:
a. delivering it to the person at the Propetiy or person's last known address;
b. by mailing it by prepaid registered mail addressed to the person at the Property or
the person's last known address;
c. by sending it by facsimile to the person's last known number; or where the person is a corporation, by so delivering or sending it to the last known address or number of a director, officer, employee or attorney of the corporation.
39. Any patiy in this instrument whose address has changed is responsible for notifying the other respective pmiies of the change in address.
40. Any notice or demand delivered as described will constitute as sufficient delivery. Any notice, demand, mail and facsimile (the "Notice") made will constitute as being effective on the same day that it was sent, unless the day in which the Notice was sent falls on a national holiday, Saturday or Sunday, in which case, the next business day would be considered as the day of receipt.
[Remainder of page intentionally left blank]
BOOK14 7 4 PAGE 19
IN WITNESS WHEREOF the Trustor, has duly affixed its signature under hand and seal as of the July 30,2015.
TRUSTOR:
HAMILTON PROPERTIES, LLC
Trustor Acknowledgment
STATE OF H: N /I!GS"S -C'GCOUNTY OF rtAfY\ l (;TO fl/
I, C_ytJnilA e S:<::Q< , a Notary Public, do hereby cettify that })ONNA c_, WIIMAMS:, a manager of Hamilton Properties, LLC, a Tennessee limited liability
company, personally appeared before me this .31 S"f day of July 2015 and acknowledged the due execution of the foregoing Deed of Trust for and on behalf of the limited liability company.
My commission expires: ()8'·13 · 17
BOOK14 7 4 PAGE 20
vlF:(Ji'\~lA: C!Prl-<.'s Oltit::e, Gircnit Court of Greene County
301 Osrk $ '2.."8' .50 The f('~rPgoir.g insirument was pmson~ed,, 039 St. Grantes ll~Sfind '··.::~:-.the certt~icate n~p.s. ad:mttec 213 Co. OranleHl.t.!~.::.;;;;>rto7~,d on tn•--~~-~ o{ 220Co.Granio.-_ _ ~;;f__._,2o .. J.L,al 106 TTF -s,c:;o _.Lf? locai time, after payment of 038 St. Grantor ___ fees find costs as s own.
~!~~~~~fer I $j:>.&> Teste: ~ Dtt-103 Tech Fee 036 Deed :ZO.o.:. 035Vof '·"'"' TOTAL $ 4 (f{lf.$?,
OFFICIAL RECEIPT GREENE COUNTY CIRCUIT
22 COURT STREET - PO BOX 386 STANARDSVILLE, VIRGINIA 22973
434.985.5208
DEED RECEIPT
DATE: 08/05/15 TIME: 14:05:54 ACCOUNT: 079CLR1501733 RECEIPT: 15000003859 CASHIER: AXL REG: GR12 TYPE: DOT PAYMENT: FULL PAYMENT INSTRUMENT 1501733 BOOK: 1474 PAGE: 07 RECORDED: 08/05/15 AT 14:05 GRANTOR: HAMILTON PROPERTIES, LLC GRANTEE: SETH E. TWERY, PC
EX: N LOC: CO EX: N PCT: 100%
AND ADDRESS : 715 COURT STREET LYNCHBURG, VA. 24505 RECEIVED OF : ADVANTAGE CLOSING & TITLE
CHECK: $4,584.33 010325 DESCRIPTION 1: R-VILLE MAGIST. DISTR., LOT B, .978 ACRES PAGES:
2: NAMES: CONSIDERATION: 1,358,500.00 A/VAL: .00 MAP: 66-A-20
301 DEEDS 039 DEEDS AND CONTRACTS 106 TECHNOLOGY TRST FND 036 DEED PROCESSING FEE
PIN: 145 VSLF 28.50
3,396.25 5.00
20.00
213 COUNTY GRANTEE TAX 035 VOF FEE
TENDERED AMOUNT PAID: CHANGE AMT :
CLERK OF COURT: BRENDA M. COMPTON
COURT COPY RECEIPT COPY 2 OF 3
14 OP: 0
1. 50 1,132.08
1. 00
4,584.33 4,584.33
.00
0
CONTRACT FOR PURCHASE OF PROPERTY
AT FORECLOSURE SALE
Greene Tax Map No. 66-A-2O0B)
THIS CONTRACT OF PURCHASE (the"Contract") made and entered into this 1st day
of December, 2017, by and between , ("Purchasers)"), and
NANCY R. SCHLICHTING, acting for Lenhart Pettit, PC Substitute Trustee ("Seller") to
convey the following property in Greene County, Virginia:
PROPERTY ADDRESS: U.S. ROUTE 29 (NORTHBOUND LANE),RUCKERSVILLE DISTRICT, GREENE COUNTY, VIRGINIA.
ALL of that certain lot or parcel of land, together with all buildings andimprovements thereon, lying and being in Ruckersville Magisterial District,Greene County, Virginia, designated as "Lot B," containing 0.978 acres, on platof survey entitled "Subdivision Plat Parcel 66(A)20, Lot B, Cornerstone Plaza,Formerly Ben Lake Plaza, etc.," dated June 11, 2015, prepared for Joseph A.Troilo, Jr., by W. M. Clisso, L.S., recorded on July 1, 2015 on Plat Card 5016 inthe Clerk's Office of the Circuit Court ofGreene County, Virginia.
Being the same property conveyed to Joseph Anthony Troilo, Jr. and Patricia C.Troilo, husband and wife, as tenants by the entireties with full common law rightsof survivorship by Deed from C. W. Properties, L.L.C., a Virginia limited liabilitycompany dated January 15, 2014, recorded January 22,2014, in Deed Book 1425,Page 349, in the Clerk's Office of the Circuit Court of Greene, Virginia.
Greene County Tax Map # 66-A-20(B)
(the "Property").
WHEREAS, Purchaser was the last and highest bidder at the public auction held on
December 1, 2017 (the "Sale Date") for the sale of the real estate in Greene County,
Ruckersville, VA, said Purchaser having made a last bid of $ ("Purchase
Price"); and
WHEREAS, Purchaser did pay to Trustee as deposit the sum of $ , the receipt of
which is hereby acknowledged by the Trustee; and
WHEREAS, in connection with this sale, Purchaser acknowledges and agrees to the
terms and conditions as stated in the advertised foreclosure.
NOW, THEREFORE, in consideration of the premises, the parties do hereby agree as
follows:
1. That within three (3) business days from the date of this Contract, Purchaser shall
pay to Trustee the sum of $ , representing the balance due of the deposit required
(10% of the Purchase Price).
2. That Purchaser shall pay to Trustee, the balance of the Purchase Price, by wire
transfer or certified or cashier's check, at settlement.
3. At settlement, Trustee shall deliver to Purchaser a deed with Special Warranty of
Title conveying the Property to Purchaser. The conveyance of the Property is subject to the
covenants, conditions, easements, restrictions and reservations, if any, superior to the lien of the
Deed ofTrust, duly of record and constituting constructive notice.
4. Grantor's tax and pro-rated real estate taxes up to the Sale Date shall be paid by
Trustee. All other costs and expenses shall be paid by Purchaser. Each party shall pay its own
attorney's fees. Rollback taxes, if any, shall be the responsibility ofPurchaser.
5. Settlement shall occur on or before 2:00 p.m. on January 4, 2018 (the
"Settlement Date"), unless otherwise extended at the sole discretion of the Trustee. Possession
of the Property shall be turned over at settlement.
6. If the Seller is unable to convey title to the subject property for any reason, the
sole remedy of Purchaser is the return of the deposit with accrued interest. If the Seller believes
any challenge to the validity of the sale has merit, the Seller may declare in her sole discretion
the sale void and return the deposit, and Purchaser shall have no further remedy.
7. Purchaser agrees this Contract is not contingent upon Purchaser obtaining
financing from any third party and shall be treated as a cash sale. Purchaser further agrees this
Contract is not contingent upon an appraisal of the Property being equal to or greater than the
Purchase Price.
8. The deposit shall be applied to the credit of Purchaser at settlement; or, in the
event of Purchaser's failure to complete settlement on the Settlement Date, including any
postponement by Trustee, and in accordance with the terms of sale, the deposit shall be forfeited
and applied to the costs and expenses of sale, including the auction expenses and Trustee's fee
and then to the balance due under the applicable note. Thereafter Trustee may resell the Property
at the cost and expense of the defaulting Purchaser or Trustee may accept the next highest
available bid from the auction sale, or Trustee may sell the Property to the lender at the bid of the
defaulting Purchaser. Purchaser shall be liable for any deficiency resulting from the resale of the
Property as well as for all costs, expenses, and reasonable attorneys' fees connected to and
arising out of Purchaser's failure to fulfill its obligations under this Contract, including but not
limited to the process ofany resale or the Trustee's acceptance of the next highest available bid.
9. The Property is sold "AS IS" with all faults and without reliance on any warranty
of any kind whatsoever and Purchaser hereby accepts the Property in the condition as of the Sale
Date. Risk of loss or damage to the Property shall be borne by Purchaser from Sale Date.
10. Choice of Settlement Agent: Virginia's Consumer Real Estate Settlement
Protection Act provides that the purchaser or borrower has the right to select the
settlement agent to handle the closing of this transaction. The settlement agent's role in
closing this transaction involves the coordination of numerous administrative and clerical
functions relating to the collection of documents and the collection and disbursement of
funds required to carry out the terms of the contract between the parties. If part of the
Purchase Price is financed, the lender for the Purchaser will instruct the settlement agent
as to the signing and recording of loan documents and the disbursement of loan proceeds.
No settlement agent can provide legal advice to any party to the transaction except a
settlement agent who is engaged in the private practice of law in Virginia and who has been
retained or engaged by a party to the transaction for the purpose of providing legal
services to the party.
11. Variation by Agreement: The provisions of the Consumer Real Estate
Settlement Protection Act may not be varied by agreement, and rights conferred by this
chapter may not be waived. Trustee may not require the use of a particular settlement
agent as a condition of the sale of the Property.
12. Escrow, Closing and Settlement Service Guidelines: The Virginia State Bar
issues guidelines to help settlement agents avoid and prevent the unauthorized practice of
law in connection with furnishing escrow, closing or settlement services. As a party to a
real estate transaction, the Purchaser or Borrower is entitled to receive a copy of these
guidelines from his settlement agent, upon request, in accordance with the provisions of the
Consumer Real Estate Settlement Protection Act.
13. Ratification by Trustee: This Contract shall not be valid or enforceable unless
and until Trustee has executed and ratified this Contract.
14. This Contract may be executed in counterparts, each of which shall constitute an
original and all of which when taken together shall constitute one and the same document. This
Contract may also be executed by facsimile and/or scanned signature which shall be deemed
originals for all purposes.
WITNESS the following signatures and seals.
I, Nancy R. Schlichting, Auctioneer, dohereby certify that the above-listedpricewas the highest bid received at the auctionof the aforesaid Property.
Dated this 1st dayof December, 2017.
Nancy R. Schlichting - Auctioneer
Seller: Nancy R. Schlichting, acting forLenhart Pettit PC Substitute
Trustee
Purchaser's Signature
Purchaser's Printed Name
Address
City/State/Zip
/
Email Telephone
Co-Purchaser's Signature
Purchaser's Printed Name
Address
City/State/Zip
/
Email Telephone
Purchaser's Settlement Agent (if known):
Name
Address
City/State/Zip
Email Telephone