Details for Trustee's Sale of 145 Holt Garrison Parkway and 165 Holt Garrison Parkway

Updated

TRUSTEE'S SALE OF 145 Holt Garrison Parkway (New Parcel A) Parcel No. 73158 165 Holt Garrison Parkway (New Parcel C) Parcel No. 53422 Collins Drive (New Parcel L) Parcel No. 77655 City of Danville, Virginia In execution of a certain Deed of Trust, Assignment of Leases and Rents and Security Agreement from Coleman Marketplace LLC, a Delaware limited liability company (doing business in Virginia as Coleman Marketplace of Delaware LLC), (the "Borrower") to Lawyers Title Realty Services, Inc., a Virginia corporation, Trustee, dated as of February 22, 2017, filed for record as Instrument Number 170000902, as assigned by an Assignment of Deed of Trust, recorded as Instrument Number 170004211, all recorded in the Clerk's Office of the Circuit Court of the City of Danville, Virginia (collectively the "Deed of Trust"), the undersigned Substitute Trustee will offer the Property (as defined below) for sale at public auction, at the front entrance of the City of Danville Circuit Court Courthouse, located at 401 Patton Street, Danville, VA 24541 on Friday, July 30, 2021 at 11:00 a.m. (the "Date of Sale"), consisting of the land identified by the tax parcel numbers referenced above located in the City of Danville, Virginia, and all improvements thereon, together with all rights, easements and appurtenances benefiting and\or burdening the Property (collectively, the "Land and Improvements"), and together with all of the Substitute Trustee's right, title and interest in and to, at the direction of the Noteholder (as hereinafter defined), all fixtures and items of personal property, if any, described in the Deed of Trust, and further described as "Collateral" under the Financing Statement perfecting the Noteholder's interest therein filed with the Clerk's Office of the Circuit Court of the City of Danville as File Number 17-10 as amended by 17-41, and filed with the Delaware Department of State as File Number 2017 1254454 (collectively, the "Personal Property"); provided, however, that fixtures and other personal property of tenants-in-possession, if any, are not included in this sale except to the extent of the Borrower's interest therein. The Land and Improvements and the Personal Property referred to in the Deed of Trust as the "Trust Property" are herein referred to collectively as the "Property". Reference is made to the Deed of Trust for the exact legal description by which the Land and Improvements will be conveyed by the Substitute Trustee. Terms: ALL CASH except that, subject to the requirements of Section 55.1-324 of the Code of Virginia, 1950, as amended, the holder of the note secured by the Deed of Trust (the "Noteholder") shall be entitled to apply any of the debt secured by the Deed of Trust as a credit to the successful bid for the Property (the "Sales Price"). To participate in the bidding for the Property, a deposit in the amount of $150,000.00 (the "Deposit"), in cash or a certified or cashier's check payable (or endorsed) to the Substitute Trustee listed below, will be required at the date of sale (other than from the Noteholder). The balance of the Sales Price shall be paid in cash, wired funds or by certified or cashier's check, at settlement, to be held no later than thirty (30) days after the Date of Sale at the office of the Substitute Trustee (the "Date of Settlement"), TIME BEING OF THE ESSENCE. To those who provided the Deposit to the Substitute Trustee but were not the successful bidder, the Substitute Trustee will return such deposit promptly after completion of the bidding. The Substitute Trustee reserves the unilateral right, among other rights reserved to the Substitute Trustee as provided in a Memorandum of Sale and Deposit Receipt (the "Memo of Sale") further described below, to waive the Deposit required to participate in the auction as to any registered bidder or to cancel the sale at any time. All closing costs, other than preparation of the deed (which shall be paid out of the proceeds of sale), shall be borne by the successful bidder, including the grantor's tax on the deed (unless the Noteholder is the successful bidder). Real estate taxes shall be prorated to the Date of Sale and the successful bidder will also be obligated to add to its successful bid the amount of any real estate taxes, assessments and storm water fees, if any, that have been paid for any period from and after the Date of Sale. The Land and Improvements shall be conveyed by special warranty deed and the Personal Property shall be conveyed by bill of sale, without warranty. The risk of loss or damage to the Property by condemnation, fire or other casualty shall be borne by the successful bidder from the acceptance of the Deposit on the Date of Sale. Delivery of physical possession of the Property will not be performed by the Substitute Trustee but will be the responsibility of the successful bidder. The successful bidder will be deemed to have accepted (and required to execute) a Memo of Sale concerning the purchase of the Property, a copy of which will be made available for review upon request to the information contact person below or immediately before announcing the sale of the Property on the Date of Sale. Bidders should be sure to request and review a copy of the Memo of Sale which contains additional terms and conditions of the sale and important disclaimers, which terms, conditions and disclaimers are incorporated into this Advertisement as if fully set forth herein. The Substitute Trustee was substituted by Deed of Appointment of Substitute Trustees dated as of October 7, 2020, and recorded in the Clerk's Office on November 2, 2020, as Instrument Number 200004086. David L. Lingerfelt, Esq. Substitute Trustee c/o Vertical Vision PLC 110 Alice Run Manakin Sabot, Virginia 23103 Telephone: 804-514-1111 FOR INFORMATION CONTACT: Mark D. Williamson, Esquire McGuireWoods LLP World Trade Center 101 West Main Street, Suite 9000 Norfolk, Virginia 23510 Telephone Number: (757) 640-3713

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