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THE CHAMPION LEGAL SECTION, THURSDAY, MARCH 7- 13, 2024
PAGE 74
South 85 degrees 06 minutes
41 seconds West, a distance of
60.73 feet to a point;
thence continuing along the
said northerly right-of-way line
of Ashwood Parkway, run along
a curve to the right for an arc
distance of 118.66 feet, said
curve having a radius of 638.08
feet, a chord bearing of North
89 degrees 33 minutes 40
seconds West and a chord
length of 118.49 feet to a point;
thence continuing along the
said northerly right-of-way line
of Ashwood Parkway, run North
84 degrees 14 minutes 01
second West a distance of
164.14 feet to a point;
thence continuing along the
said northerly right-of-way of
Ashwood Parkway, run along a
curve to the left an arc dis
tance of 253.42 feet, said curve
having a radius of 383.24 feet,
a chord bearing of South 76 de
grees 49 minutes 22 seconds
West, and a chord length of
248.83 feet to a one-half inch
rebar set at the Point of Begin
ning;
thence from said point of begin
ning thus established, continu
ing along the said northerly
right-of-way line of Ashwood
Parkway, run along a curve to
the left an arc distance of 87.71
feet, said curve having a radi
us of 383.24 feet, a chord bear
ing of South 51 degrees 19
minutes 22 seconds West, and
a chord length of 87.52 feet to
a point;
thence continuing along the
said northerly right-of-way of
Ashwood Parkway, run South
44 degrees 45 minutes 59
seconds West, a distance of
192.22 feet to a point;
thence continuing along the
said northerly right-of-way of
Ashwood Parkway, run along a
curve to the right for an arc dis
tance of 308.33 feet, said curve
having a radius of 345.97 feet,
a chord bearing of South 70 de
grees 17 minutes 51 seconds
West and a chord length of
298.23 feet to a point;
thence continuing along the
said northerly right-of-way of
Ashwood Parkway, run North
84 degrees 10 minutes 17
seconds West for a distance of
119.57 feet to a point;
thence continuing along the
said northerly right-of-way of
Ashwood Parkway, run along a
curve to the left for an arc dis
tance of 14.07 feet, said curve
having a radius of 77.00 feet, a
chord bearing of South 87 de
grees 40 minutes 07 seconds
West and a chord length of
14.05 feet to an iron pin found;
thence leaving the said north
erly right-of-way line of Ash
wood Parkway, run North 26
degrees 04 minutes 26
seconds West along the east
erly line of the Gramercy Con
dominiums for a distance of
184.56 feet to an iron pin
found;
thence continuing along the
easterly line of the Gramercy
Condominiums, run North 11
degrees 29 minutes 08
seconds East for a distance of
71.91 feet to an iron pin found;
thence continuing along the
easterly line of the Gramercy
Condominiums, run North 04
degrees 17 minutes 12
seconds West, a distance of
377.82 feet to an iron pin set on
the southerly line of Fairfield
Perimeter;
thence along the southerly line
of Fairfield Perimeter, run North
85 degrees 47 minutes 50
seconds East, a distance of
670.35 feet to a one-half inch
diameter rebar set;
thence leaving the southerly
line of Fairfield Perimeter, run
South 06 degrees 33 minutes
42 seconds East for a distance
of 384.52 feet to the Point of
Beginning.
Said tract or parcel of land con
tains 388,984 square feet or
8.9298 acres.
Tract II:
All that tract or parcel of land ly
ing and being in Land Lot 349
and Land Lot 360 of the 18th
District of DeKalb County,
Georgia and being more partic
ularly described as follows:
Beginning at the intersection of
the westerly right-of-way of
Ashford Dunwoody Road (hav
ing a right-of-way width of 107
feet) and the northerly curved
right-of-way of Ashwood Park
way (having a variable width
right-of-way) and from the Point
of Beginning thus established,
run along the said northerly
right-of-way line of Ashwood
Parkway and along a curve to
the right for an arc distance of
64.74 feet, said curve having a
radius of 39.88 feet, a chord
bearing of South 38 degrees 35
minutes 40 seconds West and
a chord length of 57.86 feet to
a point;
thence continuing along the
said northerly right-of-way of
Ashwood Parkway, run South
85 degrees 06 minutes 41
seconds West, a distance of
60.73 feet to a point;
thence continuing along the
said northerly right-of-way of
Ashwood Parkway and along a
curve to the right for an arc dis
tance of 118.66 feet, said curve
having a radius of 638.08 feet,
a chord bearing of North 89 de
grees 33 minutes 40 seconds
West and a chord length
118.49 feet to a point;
thence continuing along the
said northerly right-of-way line
of Ashwood Parkway, run North
84 degrees 14 minutes 01
second West, a distance of
164.14 feet to a point;
thence continuing along the
said northerly right-of-way line
of Ashwood Parkway, run along
a curve to the left an arc dis
tance of 253.42 feet, said curve
having a radius of 383.24 feet,
a chord bearing of South 76 de
grees 49 minutes 22 seconds
West, and a chord length of
248.83 feet to an iron pin set;
thence leaving the northerly
right-of-way line of Ashwood
Parkway, run North 06 degrees
33 minutes 42 seconds West
for a distance of 384.52 feet to
an iron pin set on the South line
of property belonging to Fair-
field Perimeter, LLC;
thence along the South line of
property belonging to Fairfield
Perimeter, LLC, run North 85
degrees 47 minutes 50
seconds East for a distance of
276.77 feet to a one-half inch
diameter rebar found on the
easterly line of Land Lot 349
(said line is common to Land
Lot 349 and Land Lot 350);
thence along the easterly line
of Land Lot 349, run South 08
degrees 28 minutes 31
seconds East for a distance of
171.48 feet to one-half inch dia
meter rebar found;
thence continuing along the
said easterly line of Land Lot
349, run South 08 degrees 25
minutes 00 seconds East, a
distance of 139.38 feet to a
point;
thence leaving the said east
erly line of Land Lot 349, run
North 88 degrees 30 minutes
30 seconds East a distance of
342.00 feet to a point on the
westerly right-of-way of Ash
ford Dunwoody Road;
thence along the said westerly
right-of-way of Ashford Dun
woody Road, run South 04 de
grees 12 minutes 55 seconds
East, a distance of 14.01 feet to
the Point of Beginning.
Said tract or parcel of land con
tains 118,035 square feet or
2.7097 acres.
Easement Parcel I:
Together with the non-exclus-
ive rights and benefits of the
easements as set forth in the
Amended and Restated Declar
ation of Protective Covenants
for Ashwood-Dekalb County
dated February 17, 2004, re
corded February 18, 2004, in
Deed Book 15821, Page 733 of
the Dekalb County, Georgia re
cords.
Easement Parcel II:
Together with the non-exclus-
ive rights and benefits of the
easements as set forth in the
Declaration of Driveway Ease
ment dated July 25, 1986, re
corded in Deed Book 5536,
Page 235, of the aforesaid re
cords.
Easement Parcel III:
Together with the non-exclus-
ive rights and benefits of the
easements as set forth in the
Declaration of Easements, by
Laing Properties, Inc., a
Delaware corporation dated
March 1, 1983, filed for record
March 2,1983, and recorded in
Deed Book 4723, Page 361,
aforesaid records; as affected
by that certain Right of Way
Deed (Ashwood Parkway Ded
ication) from The Mutual Life
Insurance Company of New
York, a New York corporation
to DeKalb County, a political
subdivision of the State of
Georgia, dated August 24,
1987, filed for record August
28,1987, and recorded in Deed
Book 5931, Page 402, afore
said records, as affected by
that Amended and Restated
Declaration of Protective Cov
enants for Ashwood-Dekalb
County, recorded in Deed Book
15821, Page 733, aforesaid re
cords.
(b) Additional Land. All addi
tional lands, estates and devel
opment rights thereafter ac
quired by Borrower for use in
connection with the Land and
the development of the Land
and all additional lands and es
tates therein which may, from
time to time, by supplemental
deed to secure debt or other
wise be expressly made sub
ject to the security title of the
Security Instrument;
(c) Improvements. The build
ings, structures, fixtures, addi
tions, enlargements, exten
sions, modifications, repairs, re
placements and improvements
then or thereafter erected or
located on the Land (collect
ively, the “Improvements”);
(d) Easements. All easements,
rights-of-way or use, rights,
strips and gores of land,
streets, ways, alleys, passages,
sewer rights, water, water
courses, water rights and
powers, air rights and develop
ment rights, and all estates,
rights, titles, interests, priv
ileges, liberties, servitudes,
tenements, hereditaments and
appurtenances of any nature
whatsoever, in any way then or
thereafter belonging, relating or
pertaining to the Land and the
Improvements and the rever
sion and remainders, and all
land lying in the bed of any
street, road or avenue, opened
or proposed, in front of or ad
joining the Land, to the center
line thereof and all the estates,
rights, titles, interests, dower
and rights of dower, curtesy
and rights of curtesy, property,
possession, claim and demand
whatsoever, both at law and in
equity, of Borrower of, in and to
the Land and the Improve
ments and every part and par
cel thereof, with the appurten
ances thereto;
(e) Equipment. All “goods” and
“equipment,” as such terms are
defined in Article 9 of the Uni
form Commercial Code (as
hereinafter defined), then
owned or thereafter acquired
by Borrower, which are used at
or in connection with the Im
provements or the Land or is
located thereon or therein (in
cluding, but not limited to, all
machinery, equipment, furnish
ings, and electronic data-pro-
cessing and other office equip
ment then owned or thereafter
acquired by Borrower and any
and all additions, substitutions
and replacements of any of the
foregoing), together with all at
tachments, components, parts,
equipment and accessories in
stalled thereon or affixed
thereto (collectively, the “Equip
ment”). Notwithstanding the
foregoing, Equipment shall not
include any property belonging
to tenants under leases except
to the extent that Borrower
shall have any right or interest
therein;
(f) Fixtures. All Equipment then
owned, or the ownership of
which is thereafter acquired, by
Borrower which is so related to
the Land and Improvements
forming part of the Property
that it is deemed fixtures or real
property under the law of the
particular state in which the
Equipment is located, including,
without limitation, all building or
construction materials inten
ded for construction, recon
struction, alteration or repair of
or installation on the Property,
construction equipment, appli
ances, machinery, plant equip
ment, fittings, apparatuses, fix
tures and other items then or
thereafter attached to, installed
in or used in connection with
(temporarily or permanently)
any of the Improvements or the
Land, including, but not limited
to, engines, devices for the op
eration of pumps, pipes, plumb
ing, cleaning, call and sprinkler
systems, fire extinguishing ap
paratuses and equipment,
heating, ventilating, laundry, in
cinerating, electrical, air condi
tioning and air cooling equip
ment and systems, gas and
electric machinery, appurten
ances and equipment, pollu
tion control equipment, secur
ity systems, disposals, dish
washers, refrigerators and
ranges, recreational equipment
and facilities of all kinds, and
water, gas, electrical, storm
and sanitary sewer facilities,
utility lines and equipment
(whether owned individually or
jointly with others, and, if
owned jointly, to the extent of
Borrower's interest therein)
and all other utilities whether or
not situated in easements, all
water tanks, water supply, wa
ter power sites, fuel stations,
fuel tanks, fuel supply, and all
other structures, together with
all accessions, appurtenances,
additions, replacements, better
ments and substitutions for any
of the foregoing and the pro
ceeds thereof (collectively, the
"Fixtures"). Notwithstanding the
foregoing, "Fixtures" shall not
include any property which ten
ants are entitled to remove pur
suant to leases except to the
extent that Borrower shall have
any right or interest therein;
(g) Personal Property. All fur
niture, furnishings, objects of
art, machinery, goods, tools,
supplies, appliances, general
intangibles, contract rights, ac
counts, accounts receivable,
franchises, licenses, certific
ates and permits, and all other
personal property of any kind or
character whatsoever as
defined in and subject to the
provisions of the Uniform Com
mercial Code, other than Fix
tures, which are then or there
after owned by Borrower and
which are located within or
about the Land and the Im
provements, together with all
accessories, replacements and
substitutions thereto or there
for and the proceeds thereof
(collectively, the “Personal
Property”), and the right, title
and interest of Borrower in and
to any of the Personal Property
which may be subject to any
security interests, as defined in
the Uniform Commercial Code,
as adopted and enacted by the
state or states where any of the
Property is located (the “Uni
form Commercial Code”), su
perior in lien to the lien of the
Security Instrument and all pro
ceeds and products of the
above;
(h) Leases and Rents. All
leases, subleases or subsub
leases, lettings, licenses, con
cessions or other agreements
(whether written or oral) pursu
ant to which any Person is
granted a possessory interest
in, or right to use or occupy all
or any portion of the Land and
the Improvements, and every
modification, amendment or
other agreement relating to
such leases, subleases, sub
subleases, or other agree
ments entered into in connec
tion with such leases, sub
leases, subsubleases, or other
agreements and every guaran
tee of the performance and ob
servance of the covenants,
conditions and agreements to
be performed and observed by
the other party thereto, thereto
fore or thereafter entered into
(collectively, the “Leases”),
whether before or after the fil
ing by or against Borrower of
any petition for relief under the
Bankruptcy Code and all right,
title and interest of Borrower, its
successors and assigns therein
and thereunder, including,
without limitation, cash or se
curities deposited thereunder to
secure the performance by the
lessees of their obligations
thereunder and all rents, addi
tional rents, revenues, issues
and profits (including all oil and
gas or other mineral royalties
and bonuses) from the Land
and the Improvements whether
paid or accruing before or after
the filing by or against Borrow
er of any petition for relief un
der the Bankruptcy Code (col
lectively, the “Rents”) and all
proceeds from the sale or oth
er disposition of the Leases
and the right to receive and ap
ply the Rents to the payment of
the Debt;
(i) Condemnation Awards. All
awards or payments, including
interest thereon, which may
theretofore and thereafter be
made with respect to the Prop
erty, whether from the exercise
of the right of eminent domain
(including, but not limited to,
any transfer made in lieu of or
in anticipation of the exercise of
the right), or for a change of
grade, or for any other injury to
or decrease in the value of the
Property;
(j) Insurance Proceeds. All pro
ceeds in respect of the Prop
erty under any insurance
policies covering the Property,
including, without limitation, the
right to receive and apply the
proceeds of any insurance,
judgments, or settlements
made in lieu thereof, for dam
age to the Property;
(k) Tax Certiorari. All refunds,
rebates or credits in connec
tion with reduction in real es
tate taxes and assessments
charged against the Property
as a result of tax certiorari or
any applications or proceed
ings for reduction;
(l) Conversion. All proceeds of
the conversion, voluntary or in
voluntary, of any of the forego
ing including, without limitation,
proceeds of insurance and con
demnation awards, into cash or
liquidation claims;
(m) Rights. The right, in the
name and on behalf of Borrow
er, to appear in and defend any
action or proceeding brought
with respect to the Property
and to commence any action or
proceeding to protect the in
terest of Holder in the Property;
(n) Agreements. All agree
ments, contracts, certificates,
instruments, franchises, per
mits, licenses, plans, specifica
tions and other documents, in
cluding, then or thereafter
entered into, and all rights
therein and thereto, respecting
or pertaining to the use, occu
pation, construction, manage
ment or operation of the Land
and any part thereof and any
Improvements or respecting or
pertaining to any business or
activity conducted on the Land
and any part thereof and all
right, title and interest of Bor
rower therein and thereunder,
including, without limitation, the
right, upon the happening of
any default hereunder, to re
ceive and collect any sums
payable to Borrower thereun
der;
(o) Trademarks. All trade-
names, trademarks, service-
marks, logos, copyrights, good
will, books and records and all
other general intangibles relat
ing to or used in connection
with the operation of the Prop
erty;
(p) Accounts. All reserves, es
crows and deposit accounts
maintained by Borrower with re
spect to the Property, including,
without limitation, the Lockbox
Account and the Cash Manage
ment Account, together with all
deposits or wire transfers made
to such accounts, all cash,
checks, drafts, certificates, se
curities, investment property,
financial assets, instruments
and other property held therein
from time to time and all pro
ceeds, products, distributions
or dividends or substitutions
thereon and thereof;
(q) Letter of Credit. All letter-of-
credit rights (whether or not the
letter of credit is evidenced by a
writing) Borrower then had or
thereafter acquired relating to
the properties, rights, titles and
interests referred to in Section
1.1 of the Security Instrument;
(r) Tort Claims. All commercial
tort claims Borrower then had
or thereafter acquired relating
to the properties, rights, titles
and interests referred to in Sec
tion 1.1 of the Security Instru
ment; and
(s) Other Rights. Any and all
other rights of Borrower in and
to the items set forth in Subsec
tions (a) through (r) above.
WHEREAS, the Security Instru
ment secures, in part, that cer
tain loan (the “Loan”) to Bor
rower made by Original Lender,
in the total original principal
amount of $32,740,000.00, as
evidenced by that certain
Promissory Note dated as of
May 28, 2015, in the original
principal amount of
$32,740,000.00, executed by
Borrower and payable to the or
der of Original Lender, as was
endorsed and assigned to
Holder (the “Note”); and
WHEREAS, defaults and
Events of Default have oc
curred and are continuing un
der the Note, the Loan Agree
ment, the Security Instrument
and the other Loan Documents
(as defined in the Loan Agree
ment), specifically including,
without limitation, the failure of
Borrower to pay to Holder the
payments due under the Note;
and
WHEREAS, by reason of such
defaults and Events of De
faults, the Debt was and is
hereby declared due and pay
able in the entirety and the Se
curity Instrument has become,
is, and is hereby subject to
foreclosure as provided by law,
the Note, the Loan Agreement,
and the Security Instrument;
and
WHEREAS, prior to the con
summation of the exercise of
the power of sale contained in
the Security Instrument and the
consummation of the foreclos
ure sale of the Property, any
and all funds, cash, letters of
credit and other sums, if any,
held by Holder for or on behalf
of Borrower, in the reserves, or
any other escrow, reserve or
accounts established under the
Note, the Loan Agreement, the
Security Instrument and/or any
other Loan Document, for pay
ment of taxes, assessments
and other similar charges
levied against the Property, in
surance, capital improvements,
replacements, tenant improve
ments, leasing commissions or
otherwise (collectively, the
“Funds”) have been or shall be
applied by Holder toward pay
ment of the Debt, to the extent
provided in the Note, the Loan
Agreement, the Security Instru
ment and the other Loan Docu
ments.
NOW, THEREFORE, under
and pursuant to the power of
sale contained in the Security
Instrument and according to the
terms of the Security Instru
ment and the laws in such
cases made and provided,
Holder will expose the Property
(less and except the Funds) for
sale, at public sale to the
highest bidder, for cash on that
certain first Tuesday in April,
2024, being April 2, 2024, dur
ing the legal hours for sale, be
fore the courthouse door in
DeKalb County, Georgia. The
Property (less and except the
Funds) will be sold subject to
the following:
1. All outstanding taxes and as
sessments, and any additional
taxes which result from a reas
sessment of the Property;
2. All valid zoning ordinances;
3. Rights and obligations of ten
ants in possession as tenants
only, with no option to pur
chase or right of first refusal;
4. All other, if any, easements,
limitations, reservations, coven
ants, restrictions, deeds to se
cure debt, liens and other en
cumbrances and matters of
public records to which the Se
curity Instrument is junior and
subordinate in terms of priority
under the laws of the State of
Georgia; and
5. Any and all other matters
that a survey of the Property
would reveal.
The Debt remaining in default
and the aforesaid defaults and
