NOTICE OF SUBSTITUTE TRUSTEEíS SALE
WHEREAS, on May 28, 2014, SOUTHERN INDUSTRIAL MECHANICAL MAINTENANCE COMPANY, LLC, executed a Deed of Trust (the ìDeed of Trustî) to Greg Smithers, as Trustee, to secure the prompt payment of certain indebtedness (the ìIndebtednessî) payable to IBERIABANK, a Louisiana banking corporation (ìBankî), said Indebtedness being more particularly described in the Deed of Trust, and Fixture Filing , Assignment of Rents and Security Agreement which is of record in the Registerís Office of Haywood County, Tennessee, in Record Book 121, page 438, said Registerís Office as modified by Modification and Extension Agreement dated October 16, 2014, in Record Book 124, Page 702, Modification and Extension Agreement dated May 8, 2015, in Record Book 131, Page 55, Modification Agreement dated August 7, 2015, in Record Book 134, Page 53, Modification Agreement dated November 30, 2016 in Record Book 147, page 390 and Modification Agreement dated April 4, 2017 in Record Book 152, Page 316, all in the said Registerís Office, to which reference is hereby made; and
WHEREAS, default has been made in the payment of the aforesaid Indebtedness and in the performance of the covenants made in the Deed of Trust, as modified, by reason of which the entire balance owing thereunder has been declared to be due and payable, said default continuing; and
WHEREAS, the Trustee named in the Deed of Trust has been replaced by Bank by instrument recorded in the aforesaid registerís office, under which instrument Bank has appointed James E. Bailey III, a resident of Shelby County, Tennessee, as Substitute Trustee, with all the rights, powers and privileges granted the Trustee named in the Deed of Trust;
NOW, THEREFORE, by virtue of the power and authority vested in him as said Substitute Trustee under the Deed of Trust, at the request of Bank and for the purpose of effecting payment and satisfaction of the Indebtedness, including principal, interest, attorneysí fees and all other costs of sale, Substitute Trustee or his agent or designated representative, is, on March 20, 2019, commencing at 12:00 NOON prevailing Central time or such other date and time as Substitute Trustee may publicly announce at that time, to offer for sale at public outcry to the highest and best bidder for cash at the east door of the Haywood County Courthouse, 1 N. Washington Street, Brownsville, Tennessee, in bar of all equities of redemption, homestead, dower and all other rights and exemptions of every kind, including statutory rights of redemption under T.C.A. ß 66-8-101, all of which are waived pursuant to the terms of the Deed of Trust, the following described real estate, as more particularly described in the Deed of Trust, located thereon:
Property Address: 500 Boyd Street, known locally as 500 Dupree Street, Brownsville, Tennessee
Tax Parcel No. 074A C 001.00
Quitclaim Deed: Record Book 81, page 302, said Registerís Office
Legal Description: See Tract III of Deed of Trust for complete legal description
The Deed of Trust recites title to the real estate as unencumbered except as provided above, but Substitute Trustee will make no covenant of seisin or warranty of title, express or implied, and will sell and convey by Trusteeís Quitclaim Deed as Substitute Trustee only, subject to any governmental zoning or subdivision ordinances or regulations and to liens and encumbrances superior to the Deed of Trust, if any, of record in effect thereon and further subject to all taxes and assessments that are a lien thereon.
Further, the transfer shall be ìAs Isî and without warranty of any kind, express or implied, as to the condition of such property and the improvements located thereon, including merchantability or fitness for particular purpose. There is no warranty relating to title, possession, quiet enjoyment, or the like.
The Deed of Trust, as modified, also grants a security interest in certain equipment as collateral for the Indebtedness. The herein described foreclosure sale is a sale of the real property described herein only and will not include the sale of any equipment or any other collateral for the Indebtedness and Bank expressly reserves all rights under the Deed of Trust and applicable law to seek to sell all or any remaining portion of the Trust Estate (as defined in the Deed of Trust) in parts, parcels, or as a whole, from time to time hereafter.
The right is reserved to adjourn the day of sale to another date and time certain without further publication upon announcement at the time set above and to sell to the second highest bidder in the event the highest bidder does not comply with the terms of the sale.
The following interested parties are record holders of an interest in the above-described property by virtue of the instrument referenced below in no particular order of record in the Registerís Office of Haywood County, Tennessee: United States Department of Treasury-Internal Revenue Service in Book 139, page 146, Book 141, Page 805, Book 146, Page 571, Book 152, Page 778, Book 156, Page 392, and Book 157, page 758, all in the Registerís Office for Haywood County, Tennessee. Notice to the United States Department of Treasury-Internal Revenue Service has been timely given. For every lien or claim of lien of the United States Department of Treasury-Internal Revenue Service so identified, state the sale of the land advertised will be subject to the right of the United States to redeem the land as provided for in 26 U.S.C. ß 7425(d)(1).
This __ day of February, 2019
James E. Bailey, III
Butler Snow LLP
6075 Poplar Avenue
Memphis, TN 38119