NOTICE OF SUBSTITUTE TRUSTEE’S SALE OF REAL PROPERTY AND TIMBER
WHEREAS, by Deed of Trust dated January 24, 2005, and recorded in TD Book 357, Page 251, in the Overton County Register of Deeds Office and recorded in Book TD 96, Page 58 in the Clay County Register of Deeds, Robert S. Davis, M.D. and wife, Nicole P. Davis,
conveyed in trust to T. Mike Estes, Trustee for Farm Credit Services of Mid-America, FLCA certain real estate hereinafter described, to secure the payment of the principal sum of $625,000.00, evidenced by a certain Promissory Note, said instruments being incorporated herein by reference; and
WHEREAS, Farm Credit Services of Mid-America, FLCA, the owner and holder of said indebtedness, appointed James E. Bondurant, Jr., as Substitute Trustee, by Appointment of Substitute Trustee dated November 12, 2012, and recorded in Record Book 114, Page 293, in the Overton County Register of Deeds Office and recorded in Book MS 12, Page 511 in the Clay County Register of Deeds Office; and
WHEREAS, as a part of the aforementioned Deed of Trust, Robert S. Davis, M.D. and wife, Nicole P. Davis granted to Farm Credit Services of Mid-America, FLCA a security interest in and to all timber growing or to be grown and all harvested timber, and it is the desire of Farm Credit Services of Mid-America, FLCA that such timber rights be sold as a part of this foreclosure sale; and
WHEREAS, default has been made in the Deed of Trust referenced above and the owner and holder of the Note described above has declared the entire balance of the Note and Deed of Trust due and payable and has instructed the undersigned Substitute Trustee to foreclose said Deed of Trust in accordance with their terms and provisions.
NOW, THEREFORE, by the authority vested in me as Substitute Trustee under said instruments, I will on the 21st day of February 2013, at 1:00 p.m. CST at the East door of the Overton County Courthouse located in Livingston, Overton County, Tennessee, offer for sale and sell the property (both real property and timber, together) at public outcry to the highest and best bidder, for cash, free from the equity of redemption and all statutory rights of redemption, homestead, and dower, all of which are expressly waived in said Deed of Trust, said property therein conveyed, being more particularly described as follows:
Situated in the Third Civil District of Overton County, Tennessee and situated in the Third Civil District of Clay County, Tennessee and being the same property described in WD Book 300, Page 215 in the Overton County Register of Deeds Office and in Book WD 77, page 79 in the Clay County Register of Deeds Office and as described in TD Book 357, Page 251 in the Overton County Register of Deeds Office and in Book TD 96, Page 58 in the Clay County Register of Deeds Office; and containing 1,157.38 acres, more or less.
There is partially released from the above described property those easement rights described in the Partial Release dated June 25, 2007 and recorded in Record Book 36, Page 882 in the Overton County Register of Deed’s Office
There is conveyed herewith any and all timber growing on the above-described property or that has been harvested and located on the property.
The address of the subject property is on or about Simmental Lane in Overton County, Tennessee; this property is further identified as CLT# 024-004.00 in Overton County, Tennessee; and the address of the subject property is on or about Turkey Town Road in Clay County, Tennessee; this property is further identified as CLT #087-011.00 in Clay County, Tennessee.
The above-described property will be sold subject to any and all unpaid taxes, restrictions, easements and building setback lines, and to any prior or superior liens, judgments or Deeds of Trust.
This sale is made of the real property, and any improvements thereon, and any timber growing on the property or that has been harvested and located on said property and this sale is made in accordance with the terms and conditions of the Deed of Trust and in accordance with T.C.A. §47-9-604(a)(2).
The proceeds of the sale will be applied in accordance with the terms and provisions of the above-named Deed of Trust. Said sale is being made upon the request of Farm Credit Services of Mid-America, FLCA, owner and holder of the indebtedness secured by said Deed of Trust, due to the failure of the makers to comply with all provisions of said Deed of Trust.
Other parties interested as defined by Tennessee statutes and to whom the Substitute Trustee has given notice of the sale includes the following: Dr. Robert S. Davis, Nicole P. Davis, David R. Bell and wife, Mary Bell, c/o John R. Officer, Esq.; Marty Turbeville and wife, Lori Turbeville, c/o John R. Officer, Esq.; John R. Officer, Trustee; Wayne County Bank; and Branch Banking and Trust Company.
Should the highest bidder fail to comply with the terms of the bid at the public sale, then the Substitute Trustee shall have the option of accepting the second highest bid, or the next highest bid with which the buyer is able to comply.
The right is reserved to adjourn the day of the sale to another day certain without further publication, upon announcement at the time set forth above.
JAMES E. BONDURANT, JR.
CROLEY, DAVIDSON & HUIE, PLLC
1700 First Tennessee Plaza
Knoxville, TN 37929
January 29, 2013
February 5, 2013
February 12, 2013