NOTICE OF SUBSTITUTE TRUSTEE’S SALE
WHEREAS, by Deed of Trust dated September 29, 2015 (the “Deed of Trust”), of record Book 1667, Page 528, in the Office of the Register of Deeds of Tipton County, Tennessee (the “Register’s Office”), William A. Glass A/K/A William Arnon Glass, a single man, and James Todd McIntyre, a married man, did convey in trust to FMLS, Inc., as Trustee, certain property described therein to secure payment of a debt in the original principal sum of $199,855.58, payable to Regions Bank (the “Lender”). Said Deed of Trust is incorporated herein by reference:
WHEREAS, Lender is the true and lawful owner and holder of the debt aforesaid which is secured by the Deed of Trust (the “Debt”); WHEREAS, by Appointment of Substitute Trustee recorded on January 9, 2019, in Book 1827, Page 839, in said Register’s Office, Lender, exercising its authority as such owner and holder of said Deed of Trust, appointed E. Franklin Childress, Jr., as Substitute Trustee (hereinafter, the “Substitute Trustee”), who is empowered to serve with all the title, powers, and duties of the original Trustee named in said Deed of Trust described above; and
WHEREAS, default has been made in the payment of Debt and obligations secured by said Deed of Trust, and Lender, as owner and holder of the obligations secured thereby, has declared the entire balance due and payable and has instructed the undersigned Substitute Trustee to foreclose said Deed of Trust in accordance with its terms and provisions;
NOW, THEREFORE, by the authority vested in me as Substitute Trustee under said instrument, I will on Thursday, February 6, 2020, at 12:00 noon, at the north door of the Tipton County Courthouse, located in Covington, Tennessee, offer for sale and sell at public auction to the highest and best bidder for cash in bar of all rights and equities of redemption, statutory and otherwise, homestead, dower and all other rights or exemptions of every kind, all of which are expressly waived in said Deed of Trust, the property therein conveyed (the “Property”), which is situated in the State of Tennessee, Tipton County, and is described as follows:
EXHIBIT “A”
(Legal Description)
The following described real estate lying and being in Tipton County, Tennessee, and thus described:
Tract # 1: Beginning at a slake in the northeast corner of the original 2.27 acre lot conveyed by Ralph to Winford at Book 152, Page 102, of the Register’s Office of said County and of which this lot is a part, it being also the northwest corner of the Winford & Son l acre tract; thence with the east line of the original lot south 11/2 degrees east 3.74 chains to a stake, tire southeast corner of the original lot; thence with the south line of the same south 89 1/2 degrees west 114 feet to a stake in said south line; thence north 11/2 degrees west 3.74 chains to a stake in the road, from which east 9 feet to a red oak; thence with the road and the north line of the original tract north 89 1/2 degrees east 114 feet to the beginning.
Tract # 2: Beginning at the southwest corner of the original lot purchased by H. V. Winford from E.S. Bringle, Trustee, and of which this lot or parcel of land is a part and being likewise the southeast corner of V. W. Bringle’s gin lot; thence east along the south line of said Winford lot 80 feet to a stake; thence north and parallel with the west line of the said Winford lot 3 chains and 33 links to a stake in the road, the same being in the north line of said Winford lot; thence west with the north line of said Winford lot 80 feet to a stake, the same being the northwest corner of said original lot; thence south along the west line of said original lot, the same being the east line of said gin lot 3 chains and 33 links to the point of beginning.
Together with all buildings, structures, gin machinery, motors, presses, and other equipment and machinery used in the operation of a gin on the above described real estate.
Tract # 3: Beginning at a stake on the north end (northeast) corner of the original tract and on the corner of Yarbrough and Pinner; thence west 3 chains to a stake; thence north 3 chains and 33 links to a stake; thence east 3 chains to a stake in the road; thence south with the road to the beginning, containing 1 acre more or less, said lot being generally bounded as follows: on the north by Highway 54; on the south by the lands of Ralph; on the east by the Gift and Tabernacle Road; and on the west by the V.W. Bringle Gin lot.
But there is excepted out of the above and not conveyed hereby a strip 80 feet wide along the west side thereof conveyed to V.W. Bringle by Deed at Book 164, Page 559, of the Register’s Office of said County to which reference is here made.
Tract # 4: Beginning at a stake in the center of the Tabernacle- Locust Bluff road at the southeast corner of the Strickland (formerly Howard) tract; thence in a westerly direction with the south lines of Strickland Store house lot and the Gift Gin Company lot 300 feet more or less to the southeast corner of Charlie Owen lot; thence south and parallel with the Tabernacle-Locust Bluff road 145 feet to a stake; thence east and parallel with the south line of Gift Gin Company lot and the Strickland Storehouse lot 300 feet more or less to a stake in the center of the Tabernacle-Locust Bluff road; thence north with the center of said road 145 feet to the beginning.
Tract # 5: Beginning at a stake in the center of Tabernacle blacktop road at the southeast corner of the L.D. Ralph, Jr. one acre Lot, thence with south line of L.D. Ralph, Jr, lot west 300 feet to the southwest corner of same; thence north with west line of L,D, Ralph, Jr, lot 145 feet to the northwest corner of L.D. Ralph, Jr. lot in the south line of C.C, Owen, Sr. lot; thence west with the south line of Owen lot 65 feet to a stake in same; thence south and parallel with west line of L.D. Ralph, Jr. lot, 180 feet to a stake; thence east and parallel with south line of C.C, Owen, Sr. lot and L.D. Ralph, Jr. lot 365 feet to a stake in center of Tabernacle blacktop road; thence with center of said road north 35 feet to the beginning, containing 1/2 acre more or less.
Tract # 6: Beginning at a stake in the center of Highway 54 at the northeast corner of the original lot, of which this is a part, thence south with the east line of said original lot 246.84 feet to a stake, its southeast corner, thence west with the south line of said original lot 46 feet to a stake; thence north and parallel with the east line of said original lot 246.84 feet to a stake in the center of Highway 54; thence east with the center of said Highway 46 feet to the point of beginning.
Tract # 7: Beginning at a stake in the southwest corner of the Charlie C. Owen lot and the southeast corner of the Armstrong lot; thence east with the south line of the Charlie C. Owen lot 300 feet to a stake, corner of Thad Glenn lot; thence south with the west line of the Thad Glenn lot 180 feet to a stake his southwest corner; thence west and parallel with the south line of the Charlie C. Owen lot 300 feet to a stake; thence north and parallel with the west line of the Thad Glenn lot 180 feet to the beginning.
Included in the above described Tract # 7 but to the expressly excluded there from is the following prior conveyance to Charlie C. Owen and wife, Ruth F. Owen by Warranty Deed of Thaddeus Glenn and wife, Frances C. Glenn dated May 5, 1975 and recorded in Book 370, Page 395, in. the Register’s Office of Tipton County, Tennessee, and better described as follows:
Beginning at a stake in the southwest corner of the present Charlie C. Owen lot and the southeast corner of the Armstrong lot, being also the northwest corner of the lot this day conveyed to us by L. D. Ralph, Sr. and wife, thence east with the south line of the Charlie C. Owen lot, 200 feet to a stake; thence south and parallel with die west line of the L.D. Ralph, Sr. lot this day conveyed to us, of which this lot is a part, 180 feet to a stake in the south line of same; thence west with the south line of the said lot 200 feet to a stake at its southwest corner; thence north with the west line of said lot 180 feet to the point of beginning.
Subject to easements, restrictions, and covenants of record, if any.
Being the same property conveyed to William Aaron Glass and James Todd McIntyre by Quitclaim Deed of record in Book 1662, Page 735, in said Register’s Office.
Said Property is commonly known as 4655 E. Highway 54, Covington, Tennessee 38019 and is also designated as parcel numbers 043-040.00, 043-041.00, 043-04.00T 001, and 043-043.03, but such address or designation is not a part of the legal description of the Property sold herein and in the event of any discrepancy, the legal description herein shall control.
This sale shall proceed first by public outcry at the north door of the Tipton County Courthouse for a period of thirty (30) minutes. Bidding shall then continue online at the following online auction site: www.tranzon.com. Bidders may register and place presale bids in advance of the public outcry, and the opening bid at the public outcry will be the highest presale bid, if any, entered online. The highest bid at public outcry will then be entered online, and online bidding will continue until 4:00 p.m. Central Standard Time, or until the final bidding has ended via the “automatic extend feature on www.tranzon.com, on the day of the sale. Additional terms regarding online bidding and bid acceptance are more fully described at the online auction site listed above. The winning bidder will be required to post a non-refundable 10% deposit immediately following the auction and the winning bidder must close within 30 days of the auction date.
Said sale shall be made for cash in bar of all right and equity of redemption, homestead, dower, and all other rights or exemptions of every kind, all of which are expressly waived in said Deed of Trust, but subject to the following:
1. Any unpaid taxes against the Property; and
2. Any recorded easements, conditions, covenants, rights-of-way or subdivision plats affecting the Property; and
3. Any dedication of roads affecting the property and any governmental zoning and subdivision ordinances or regulations in effect; and
4. Any prior or superior liens, judgment, deeds of trust or other interests of record.
A ten percent (10%) buyer’s premium (the “Buyer’s Premium”) will be due from the successful highest and best bidder at the foreclosure sale which said amount will be due from the purchaser and high bidder in addition to the bid amount accepted by the Substitute Trustee.
Lender has complied with the notice provisions of 26 U.S.C. § 7425(c) and Reg. §§ 301.7425-1, T.C.A. §§ 50-7-404(i)(2)(B) and 67-1-1433(b)(2), and Tennessee Department of Revenue Rule 1320-2-1-.35 to the extent applicable.
Lender reserves the right to retain any escrows, reserves, security deposits, or other funds or rights to payment of funds and to apply the same in accordance with the terms and provisions of the Deed of Trust and related documents.
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.
The failure of any high bidder to pay the purchase price and close this sale shall, at the option of Lender, be cause for rejection of the bid, and if the bid is rejected, Lender shall have the option of making the sale to the next highest bidder who is able, capable, and willing to comply with the terms thereof. The proceeds derived from the sale of the Property will be applied as provided for in said Deed of Trust and are made a part hereof as if set forth verbatim herein.
All announcements at the sale on the date of the sale will take priority over this notice. Additional announcements, terms, and conditions may also be posted on the online auction site. THE ONLY GUARANTEE THAT YOU HAVE A CHANCE TO BID IS TO ATTEND THE PUBLIC OUTCRY OF THE FORECLOSURE SALE. BY ENTERING BIDS ONLINE, A BIDDER WILL AGREE TO ALL OF THE TERMS AND CONDITIONS SET FORTH ON THE AUCTION SITE. THE AUCTION SITE IS OWNED AND OPERATED BY TRANZON ASSET ADVISORS OF TENNESSEE, LLC.
This Notice of Sale has been posted and published in accordance with T.C.A. § 35-5-101 et seq. and any provisions of the Deed of Trust affecting same beginning January 16, 2020.
E. Franklin Childress, Jr., Substitute Trustee
BAKER, DONELSON,
BEARMAN, CALDWELL
& BERKOWITZ, P.C.
165 Madison Avenue
Suite 2000
Memphis, TN 38103
Attention:
E. Franklin Childress, Jr.
16jan3w
