NOTICE OF SALE

STATE OF NORTH CAROLINA, COUNTY OF WILKES

UNDER AND BY VIRTUE of the power of sale contained in that certain Deed of Trust executed by Walter Pennell and Cynthia Pennell, dated March 13, 2017, and recorded in Book 1242 at Page  384 in the Office of the Register of Deeds of Wilkes County; and under and by virtue of the authority vested in the undersigned as Substitute Trustee by that certain instrument recorded in Book 1283 at Page 78 the Office of the Register of Deeds of Wilkes County; and under and by virtue of that certain Authorization, Findings and Order entered by the Clerk of Superior Court of Wilkes County on September 12, 2019, and of record in File 19 SP 155, default having been made in the payment of the indebtedness secured by said Deed of Trust and the said Deed of Trust being by its terms subject to foreclosure, and the holder of the indebtedness thereby secured having demanded the foreclosure thereof for the purpose of satisfying said indebtedness, and due notice having been given to those entitled to same, the undersigned Substitute Trustee will offer for sale at public auction, to the highest bidder, for cash, at the Courthouse door in Wilkesboro, Wilkes County, North Carolina, at 12:00 Noon, on October 4, 2019, the land conveyed in said Deed of Trust, the same being owned of record by The heirs of Walter Pennell and Cynthia Pennell and being more particularly described as follows:

TRACT I:

BEGINNING at an iron set in SR 1957 a corner of Roy & Zalora Richardson; thence with SR 1957 North 20 degrees 32’ 20” West 125.0 feet to an iron in SR 1957; thence North 74 degrees 45’ 00” East 250.80 feet to an iron; thence North 40 degrees 9’ 40” East 118.80 feet to an iron; thence North 80 degrees 42’ 50” East 295.39 feet to an iron; thence with the branch South 30 degrees 11’ 50” East 60.07 feet; South 80 degrees 10’ 00” West 76.29 feet to an iron; thence South 79 degrees 00’ 00” West 247.50 feet to an iron; thence South 41 degrees 00’ 00” West 118.80 feet to a 22 inch marked Pine; thence South 73 degrees 57’ 00” West 250.16 feet to the BEGINNING, containing 1.82 acres more or less.

Refer 604 DB 542 WCR.

TRACT II:

BEGINNING on an iron in SR 1957, Zelda Richardson Northwest corner; thence running with Deann Pennell line North 73 degrees East 250.8 feet to a Pine; thence North 41 degrees East 118.8 feet to a Post Oak; thence North 79 degrees East 247.5 feet to an iron; thence running South 80 degrees East 184.8 feet to a Poplar at the branch; thence leaving the branch South 19 degrees East 208.45 feet to a new corner; thence South 79 degrees West (between Zelda Richardson & Deann Pennell houses) 767.7 feet to SR 1957; thence with road North 19 degrees West 175.0 feet to the BEGINNING, containing 4.00 acres more or less.

Refer 685 DB 709 WCR.

Together with all the buildings, fixtures and improvements thereon, and all rights, easements, hereditaments and appurtenances thereunto belonging, including all heating, plumbing, ventilating, lighting goods, equipment and other tangible and intangible property, attached to or reasonably necessary to the use of such premises.

The aforesaid sale will be made subject to all encumbrances existing prior to the recording of the above-referenced Deed of Trust, including all valid and enforceable liens and also will be subject to all taxes and special assessments outstanding against the property.

The property to be offered pursuant to this notice of sale is being offered for sale, transfer and conveyance “AS IS, WHERE IS.” Neither the Trustee nor the holder of the note secured by the deed of trust/security agreement, or both, being foreclosed, nor the officers, directors, attorneys, employees, agents or authorized representatives of either the Trustee or the holder of the note make any representation or warranty relating to the title or any physical, environmental, health or safety conditions existing in, on, at or relating to the property being offered for sale, and any and all responsibilities or liabilities arising out of or in any way relating to any such condition expressly are disclaimed.

Should the property be purchased by a party other than the holder of the Deed of Trust being foreclosed, that purchaser must pay, in addition to the amount bid, the following items: (i) the tax required by N.C. Gen. Stat. Section 7A-308(a)(1) of Forty-five Cents (45¢) per One Hundred Dollars ($100) of the bid amount up to a maximum tax of Five Hundred Dollars ($500), and (ii) the excise tax on conveyance required by N.C. Gen. Stat. Section 105-228.28 et seq. of One Dollar ($1) per Five Hundred Dollars ($500) or fractional part thereof of the bid amount.

The successful bidder at the sale may be required to make an immediate cash deposit of the greater of five percent (5%) of the amount bid or Seven Hundred Fifty and no/100 Dollars ($750.00).  

The upset bids procedure of North Carolina General Statute Section 45-21.27 is applicable to this sale.  

The following applies if the property being sold is residential real property with less than 15 rental units, including single-family residential real property: (1) Pursuant to NCGS Section 45-21.29, the clerk of superior court of the county in which the property is sold may issue an order of possession of the property in favor of the purchaser and against the party or parties in possession. (2) Any person who occupies residential real property pursuant to a rental agreement entered into or renewed on or after October 1, 2007, may, after receiving this notice of sale, terminate the rental agreement by providing written notice of termination to the landlord, to be effective on a date stated in the notice [of termination] that is at least 10 days, but no more than 90 days after the sale date contained in the notice of sale, provided that the mortgagor has not cured the default at the time the tenant provides the notice of termination. The tenant is liable for rent due under the rental agreement prorated to the effective date of the termination.

Date of Notice:  September 12, 2019

This communication is an attempt to collect a debt and any information obtained will be used for that purpose.

Timothy B. Joines

Substitute Trustee

115 East Main Street

Wilkesboro, N.C. 28697

336-838-2701

9-27-2t(F)

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