Newspaper Page Text
Wednesday, September 4,2013
Tribune & Georgian
17
LEGAL ADVERTISEMENTS
gpn11
STATE OF GEORGIA
COUNTY OF CAMDEN
NOTICE OF SALE UNDER POWER
WHEREAS, KINGS BAY VILLAGE
II, LLP, a Florida limited liability part
nership (“Original Owner”), did execute
and deliver to STANDARD INSUR
ANCE COMPANY, an Oregon corpora
tion (hereinafter called “Original
Lender”), that certain Deed to Secure
Debt, Assignment of Rents and
Security Agreement dated as of June
10, 2005, filed and recorded July 1,
2005, in Deed Book 1158, Page 10, in
the records of the Office of the Clerk of
Superior Court of Camden County,
Georgia (the “Camden County
Records”; said Deed to Secure Debt,
Assignment of Rents and Security
Agreement is hereinafter called the
“Security Instrument”); and
WHEREAS, Original Owner did also
execute and deliver to Original Lender
other documents, instruments and
agreements evidencing, securing and
relating to the Secured Indebtedness
and the Secured Property (as those
terms are hereinafter defined), specifi
cally including, without limitation, that
certain Assignment of Lessor’s Interest
in Leases dated as of June 10, 2005,
filed and recorded July 1, 2005, in
Deed Book 1158, Page 40, Camden
County Records (hereinafter called the
“ALR”); and
WHEREAS, Original Owner,
MICHAEL A. AKEL and JOSEPH P.
HELOW (Original Owner, Michael A.
Akel and Joseph P. Helow are here
inafter collectively referred to as
“Original Borrowers”) made, executed
and delivered to Original Lender that
certain Note dated June 10, 2005 in
the principal amount of FOUR MIL
LION TWO HUNDRED THOUSAND
and NO/100THS DOLLARS
($4,200,000.00), payable to the order
of Original Lender (which Note, and all
additional notes issued and accepted
in substitution or exchange therefor,
and as any of the foregoing may from
time to time have been or be modified,
extended, renewed, consolidated,
restated or replaced, is hereinafter
referred to as the “Original Note”); and
WHEREAS, Original Lender made,
executed and delivered: (a) that certain
Assignment of Beneficial Interest in
Deed to Secure Debt and Related
Loan Documents (the “Original
Assignment”) to and in favor of UNIT
ED OF OMAHA LIFE INSURANCE
COMPANY, a Nebraska corporation
(“United of Omaha”), dated as of
August 23, 2005, and filed and record
ed September 20, 2005, in Deed Book
1184, Page 750, Camden County
Records, and that certain Assignment
of Interest in Deed to Secure Debt,
Assignment of Rents and Security
Agreement and Related Loan
Documents (collectively with the
Original Assignment, the “First
Assignment”) dated as of August 27,
2013 and filed and recorded or to be
filed and recorded in the Camden
County Records, whereby Original
Lender granted, assigned and trans
ferred to United of Omaha an undivid
ed thirty-five percent (35%) interest in
and to the Security Instrument, the
ALR and other Original Loan
Documents (as such term is here
inafter defined); and (b) that certain
endorsement to the Original Note (the
“First Original Note Allonge”) dated as
of July 15, 2005, whereby Original
Lender endorsed an undivided thirty-
five percent (35%) interest in the
Original Note payable to the order of
United of Omaha; and
WHEREAS, Original Owner con
veyed the Property (as hereinafter
defined) to ST. MARYS PROPERTY,
L.L.C., a Florida limited liability compa
ny (“Owner”), pursuant to that certain
Limited Warranty Deed dated February
22, 2008 and recorded February 25,
2008, in Deed Book 1412, Page 814,
Camden County Records; and
WHEREAS, Owner, RAMZY W.
BAKKAR and TONY W. BAKKAR
(Owner, Ramzy W. Bakkar and Tony W.
Bakkar are collectively referred to
herein as “Borrowers”) assumed the
obligations under and agreed to pay
the Original Note upon the terms and
conditions thereof pursuant to that cer
tain Consent to Transfer, Modification &
Assumption/Additional Advance
Agreement dated January 17, 2008
and recorded February 25, 2008, in
Deed Book 1412, Page 858, Camden
County Records (the “Assumption”);
and
WHEREAS, Borrowers made, exe
cuted and delivered to Original Lender
and United of Omaha that certain
Additional Advance Note dated
January 17, 2008 in the principal
amount of EIGHT HUNDRED THOU
SAND and NO/100THS DOLLARS
($800,000.00), payable to the order of
Original Lender and United of Omaha
(which Additional Advance Note, and
all additional notes issued and accept
ed in substitution or exchange therefor,
and as any of the foregoing may from
time to time have been or be modified,
extended, renewed, consolidated,
restated or replaced, is hereinafter
referred to as the “Additional Advance
Note”; the Original Note and the
Additional Advance Note are collec
tively referred to herein as the “Notes”);
and
WHEREAS, Original Lender made,
executed and delivered: (a) that cer
tain Assignment of Undivided Interest
in Deed to Secure Debt, Assignment of
Rents and Security Agreement and
Related Loan Documents (the “Second
Assignment”) dated as of August 27,
2013, and filed and recorded or to be
filed and recorded in the Camden
County Records, whereby Original
Lender granted, conveyed, assigned
and transferred to 2603 OSBORNE
ROAD LLC, an Oregon limited liability
company (“2603 Osborne Road”), an
undivided sixty-five percent (65%)
interest in and to the Security
Instrument, the ALR and other Loan
Documents (as such term is here
inafter defined); and (b) that certain
Allonge to Promissory Note (the
“Second Original Note Allonge”) dated
as of August 27, 2013, whereby
Original Lender endorsed an undivided
sixty-five percent (65%) interest in the
Original Note payable to the order of
2603 Osborne Road; and (c) that cer
tain Allonge to Promissory Note (the
“Additional Advance Note Allonge”)
dated as of August 27, 2013, whereby
Original Lender endorsed an undivided
sixty-five percent (65%) interest in the
Additional Advance Note payable to
the order of 2603 Osborne Road; and
WHEREAS, under, pursuant to and
in accordance with the First
Assignment, the First Original Note
Allonge, the Assumption, and the
Additional Advance Note, United of
Omaha is the successor and assign of
Original Lender as to an undivided thir
ty-five percent (35%) interest under the
Security Instrument, the ALR, the
Notes and the other Loan Documents
and, as such, acquired a thirty-five per
cent (35%) undivided interest in the
rights and benefits of the “Grantee” and
the “secured party” under the Security
Instrument and of the “Lender,” the
“Assignee” and the “secured party,” as
the case may be, under the Notes, the
ALR and the other Loan Documents,
and United of Omaha is the current
owner and holder of an undivided thir
ty-five percent (35%) interest in the
Security Instrument, the ALR, the
Notes, and the other Loan Documents;
and
WHEREAS, under, pursuant to and
in accordance with the Second
Assignment, the Second Original Note
Allonge, and the Additional Advance
Note Allonge, 2603 Osborne Road is
the successor and assign of Original
Lender as to an undivided sixty-five
percent (65%) interest under the
Security Instrument, the ALR, the
Notes and the other Loan Documents
and, as such, acquired a sixty-five per
cent (65%) undivided interest in the
rights and benefits of the “Grantee” and
the “secured party” under the Security
Instrument and of the “Lender,” the
“Assignee” and the “secured party,” as
the case may be, under the Notes, the
ALR and the other Loan Documents,
and 2603 Osborne Road is the current
owner and holder of an undivided sixty-
five percent (65%) interest in the
Security Instrument, the ALR, the
Notes, and the other Loan Documents;
and
WHEREAS, United of Omaha and
2603 Osborne Road are collectively
referred to herein as “Successor
Lender”, and all references to “Lender”
set forth in this Notice of Sale Under
Power shall mean and refer to
Successor Lender as the successor
and assign of Original Lender; and
WHEREAS, under and pursuant to
the Security Instrument, Original
Owner granted, bargained, sold, con
veyed, assigned, transferred and set
over to the use, benefit and behoof of
Lender, all of the following described
land and interests in land, estates,
easements, rights, improvements, per
sonal property, fixtures, equipment,
furniture, furnishings, appliances and
appurtenances (collectively referred to
herein as the “Secured Property”):
All those certain tracts or parcels of
land commonly known as 2603
OSBORNE ROAD, ST. MARYS,
GEORGIA 31558, more particularly
described as follows:
All that certain tract or parcel of land
being a portion of Lot 4 of the Rudolph
Estate, City of St. Marys, 29th District,
G.M., Camden County, Georgia, and
being more particularly described as
follows: For a point of reference com
mence at the point where the south
easterly right-of-way line of City Smitty
Drive, (a 60 foot right-of-way as now
established) intersects the former
southwesterly right-of-way line of
Georgia State Highway No. 40, (as for
merly established for a 100 foot right-
of-way) and from said point run thence
South 36 degrees 35 minutes 30 sec
onds West, running in a southwesterly
direction along the aforementioned
right-of-way line of City Smitty Drive, a
distance of 200.00 feet to the point of
beginning, said point being the south
westerly corner of lands now or former
ly of Pizza Hut, according to deed
recorded in Deed Book 284, Page 71-
79, Public Records of said county.
From the point of beginning thus
described run thence South 64
degrees 27 minutes 20 seconds East
along the southwesterly line of last
mentioned lands, a distance of 130.00
feet to the southeasterly corner there
of, said point lying on the northwester
ly line of lands now or formerly of the
First National Bank, according to deed
recorded in Deed Book 368, Page 225,
Public Records of said county; run
thence South 36 degrees 35 minutes
30 seconds West along the northwest
erly line of last mentioned lands, a dis
tance of 5.09 feet to the Southwest cor
ner thereof; run thence South 64
degrees 27 minutes 20 seconds East
along the southwesterly line of last
mentioned lands, a distance of 295.00
feet to the southeast corner thereof;
run thence North 36 degrees 35 min
utes 30 seconds East along the south
easterly line of last mentioned lands, a
distance of 200.00 feet to a point lying
on the existing southwesterly right-of-
way line of aforementioned Georgia
State Highway No. 40; run thence
South 64 degrees 27 minutes 20 sec
onds East along last mentioned right-
of-way line, a distance of 30.00 feet to
a point being the Northwest corner of
lands now or formerly of Discount Auto
Parts, according to deed recorded in
Deed Book 475, Page 546, Public
Records of said county; run thence
South 36 degrees 35 minutes 30 sec
onds West, along the northwesterly
line of last mentioned lands, a distance
of 194.91 feet to a point; run thence
South 24 degrees 08 minutes 52 sec
onds East, along the Southwesterly
line of last mentioned lands, a distance
of 39.83 feet to an angle point; run
thence South 53 degrees 14 minutes
33 seconds East, along a southwester
ly line of last mentioned lands, a dis
tance of 97.75 feet to a point; run
thence North 36 degrees 35 minutes
30 seconds East, along a southeaster
ly line of said lands, a distance of 45.62
feet to a point; run thence South 64
degrees 27 minutes 20 seconds East,
along a southwesterly line of said
lands, a distance of 20.38 feet to a
northwesterly corner of lands now or
formerly of WAMK Ltd Partnership,
according to deed recorded in Deed
Book 1096, Page 487, Public Records
of said county; run thence South 36
degrees 35 minutes 30 seconds West,
along the northwesterly line of last
mentioned lands, a distance of 720.00
feet to a point; run thence North 64
degrees 27 minutes 20 seconds West,
along a northeasterly line of said lands,
a distance of 85.38 feet to a point lying
on a northwesterly line of last men
tioned lands; run thence South 36
degrees 35 minutes 30 seconds West
along said northwesterly line, a dis
tance of 583.66 feet to a point lying on
the northeasterly right-of-way line of
St. Marys Railroad, (a 100 foot right-of-
way as now established), run thence
North 63 degrees 20 minutes 00 sec
onds West along the last mentioned
northeasterly right-of-way line, a dis
tance of 497.72 feet to a point; run
thence North 36 degrees 35 minutes
30 seconds East, a distance of 20.63
feet to a point; run thence North 53
degrees 24 minutes 30 seconds West,
perpendicular to last mentioned line, a
distance of 25.00 feet to a point lying
on the aforementioned southeasterly
right-of-way line of City Smitty Drive;
run thence North 36 degrees 35 min
utes 30 seconds East along last men
tioned right-of-way line, a distance of
225.40 feet to a point; run thence
South 53 degrees 24 minutes 30 sec
onds East, perpendicular to last men
tioned right-of-way line, a distance of
166.76 feet to a point; run thence North
36 degrees 35 minutes 30 seconds
East, perpendicular to last mentioned
line, a distance of 170.45 feet to a
point; run thence South 53 degrees 24
minutes 30 seconds East, perpendicu
lar to last mentioned line, a distance of
138.24 feet to a point; run thence North
36 degrees 35 minutes 30 seconds
East, perpendicular to last mentioned
line, a distance of 125.00 feet to a
point; run thence North 53 degrees 24
minutes 30 seconds West, perpendicu
lar to last mentioned line, a distance of
305.00 feet to a point lying on the
aforementioned southeasterly right-of-
way line of City Smitty Drive; run
thence North 36 degrees 35 minutes
30 seconds East, along last mentioned
right-of-way line, a distance of 747.36
feet to the point of beginning.
The land thus described contains
15.01 acres and is subject to any ease
ments of record lying within (such real
property is referred to herein as the
“Property”).
Together with (a) all rents, income,
contract rights, issues and profits now
due or which may become due under
or by virtue of any lease, rental agree
ment or other contract, whether written
or oral, for the use or occupancy of the
Property or any part thereof, together
with all tenant security deposits, sub
ject, however, to the right, power and
authority given to and conferred upon
Owner under the Security Instrument
to collect and apply such rents, issues,
income, contract rights, security
deposits and profits prior to any default
thereunder; (b) all buildings and
improvements now or hereafter there
on, and all appurtenances, easements,
right in party walls, water and water
rights, pumps and pumping plants and
all shares of stock evidencing the
same; (c) all fixtures and property now
or hereafter attached to or used in the
operation of the Property, including but
not limited to machinery, equipment,
appliances and fixtures for generating
or distributing air, water, heat, electrici
ty, light, fuel or refrigeration, or for ven
tilating or sanitary purposes, or for the
exclusion of vermin or insects, or for
the removal of dust, refuse or garbage,
all wallbeds, wallsafes, built-in furniture
and installations, shelving, lockers,
partitions, door stops, vaults, elevators,
dumbwaiters, awnings, window
shades, Venetian blinds, light fixtures,
fire hoses and brackets and boxes for
same, fire sprinklers, alarm systems,
drapery rods and brackets, screens,
linoleum, carpets, plumbing, laundry
tubs and trays, ice boxes, refrigerators,
heating units, stoves, water heaters,
incinerators, communication systems
and all installations for which any such
building is specifically designed; (d) all
awards, compensation and settle
ments in lieu thereof made as a result
of the taking by power of eminent
domain of the whole or any part of the
Property; (e) all trade names by which
all or any part of the Property is known,
any books and records relating to the
use and operation of all or any portion
of the Property, all present and future
plans and specifications and contracts
relevant to the design, construction,
management or inspection of any con
struction on any improvements on the
Property and all present and future
licenses, permits, approvals and
agreements with or from any municipal
corporation, county, state or other gov
ernmental or quasi-governmental enti
ty relevant to the development,
improvement or use of all or any por
tion of the Property; (f) all rights of
Owner in and to any escrow or with
hold agreements, surety bonds, war
ranties, management contracts, leas
ing or sales agreements with any real
estate agents or brokers, and service
contracts with any entity, which are in
any way relevant to the development,
improvement, leasing, sale or use of
the Property or any personal property
located thereon; and all of said items
whether now or hereafter installed
being declared to be, for all purposes
of the Security Instrument, a part of the
realty; and all the estate, interest or
other claim or demand, including insur
ance, in law as well as in equity, which
Owner now has or may hereafter
acquire, in and to the aforesaid proper
ty; the specific enumerations herein not
excluding the general; and
WHEREAS, the Security Instrument
provides that it shall constitute a secu
rity agreement within the meaning of
the Uniform Commercial Code of the
State of Georgia (the “Code”) with
respect to any portion of the Secured
Property which constitutes personal
property or fixtures (collectively, the
“Collateral”); and
WHEREAS, the Security Instrument
further provides that: (a) Owner grant
ed to Lender a security interest in and
to the Collateral; and (b) Lender may
exercise any or all of the remedies of a
secured party available to it under the
Code; provided, however, that Lender
may at its option dispose of the
Collateral in accordance with Lender’s
rights and remedies with respect to the
Collateral pursuant to the provisions of
the Security Instrument, in lieu of pro
ceeding under the Code; and
WHEREAS, the Security Instrument
further provides that the conveyance
evidenced by the Security Instrument
is intended to operate and is to be con
strued as a deed passing title to the
Secured Property to Lender and is
made under those provisions of the
laws of the State of Georgia relating to
deeds to secure debt, and not as a
mortgage; and
WHEREAS, the Security Instrument
further provides that the Security
Instrument is given to secure all of the
following: (a) the debt evidenced by
the Original Note (the “Original Loan”),
together with any and all renewal or
renewals and extension or extensions
of the indebtedness evidenced by the
Original Note, any and all accrued and
unpaid interest thereon and any and all
other amounts due to Lender under the
Security Instrument, the Original Note
and all other documents, instruments
and agreements evidencing, securing
or in any way relating to the Original
Loan (collectively, the “Original Loan
Documents”); (b) any and all additional
advances made by Lender to protect or
preserve the Secured Property or the
lien of the Security Instrument, or to
pay taxes, to pay premiums on insur
ance on the Secured Property or to
repair or maintain the Secured
Property, or to complete improvements
on the Secured Property; (c) any and
all expenses incident to the collection
of the indebtedness secured by the
Security Instrument and the foreclo
sure thereof by action in any court or
by exercise of the power of sale con
tained therein; (d) any and all other
indebtedness now owing or which may
hereafter be owing by Owner to
Lender, however and whenever
incurred or evidenced, whether direct
or indirect, absolute or contingent, due
or to become due, together with any
and all renewal or renewals and exten
sion or extensions of said other indebt
edness; and (e) the full and prompt
payment and performance of each and
every condition, obligation, covenant,
promise and agreement of Owner in
the Security Instrument or in the
Original Note or in any of the other
Original Loan Documents; and
WHEREAS, the Assumption pro
vides that the Security Instrument is
amended and modified to secure the
Additional Advance Note and the
Original Loan Documents, as amend
ed by the Assumption and the
Additional Advance Note; and
WHEREAS, all of the foregoing
items secured by the Security
Instrument, as amended by the
Assumption, are collectively referred to
herein as the “Secured Indebtedness”;
and
WHEREAS, the debt evidenced by
the Additional Advance Note is referred
to herein as the “Additional Loan”, and
the Original Loan and the Additional
Loan are collectively referred to herein
as the “Loan”; and
WHEREAS, the Original Note, the
Additional Advance Note, the Security
Instrument, the ALR and all other doc
uments, instruments and agreements
evidencing, securing or in any way
relating to the Loan are referred to
herein as the “Loan Documents”; and
WHEREAS, Events of Default (as
defined in the Security Instrument)
under the Loan Documents have
occurred and are continuing, specifi
cally including, without limitation, the
failure of Borrowers to make monthly
payments of principal and interest pur
suant to the Notes, and the Security
Instrument has become, is, and is
hereby subject to foreclosure as pro
vided by law; and
WHEREAS, the Security Instrument
further provides that if an Event of
Default shall occur, Lender may
declare all sums secured by the
Security Instrument immediately due
and payable, without notice except as
described in the Security Instrument;
and
WHEREAS, Lender gave written
notice to Borrowers of the occurrence
of Events of Default, such Events of
Default being the failure of Borrowers
to make monthly payment of principal
and interest pursuant to the Notes, and
Lender demanded payment of such
amounts; and
WHEREAS, Borrowers failed to
make such payment demanded and
due under the Loan Documents; and
WHEREAS, Lender therefore accel
erated and declared all sums secured
by the Security Instrument immediate
ly due and payable, specifically includ
ing, without limitation, the entire
Secured Indebtedness, and demanded
immediate payment in full of all such
sums; and
WHEREAS, the Security Instrument
further provides that if the Secured
Indebtedness shall become due,
whether by acceleration or at maturity,
and Owner fails to pay the Secured
Indebtedness in full, Lender, at its
option, may sell the Secured Property
or any part of the Secured Property at
public sale or sales before the door of
the courthouse of the county in which
the Secured Property or any part of the
Secured Property is situated, to the
highest bidder for cash, in order to pay
the Secured Indebtedness and all
expenses of the sale and of all pro
ceedings in connection therewith,
including reasonable attorney’s fees, if
incurred, after advertising the time,
place and terms of sale once a week
for four (4) consecutive weeks immedi
ately preceding such sale (but without
regard to the number of days) in a
newspaper in which Sheriff’s sales are
advertised in said county; that at any
such public sale, Lender may execute
and deliver to the purchaser a con
veyance of the Secured Property or
any part of the Secured Property in fee
simple, with full warranties of title, and
that to such end Owner constituted
and appointed Lender the agent and
attorney-in-fact of Owner to make such
sale and conveyance, and thereby to
divest Owner of all right, title or equity
that Owner may have in and to the
Secured Property and to vest the same
in the purchaser or purchasers at such
sale or sales, and all the acts and
doings of said agent and attorney-in-
fact were thereby ratified and con
firmed, with any recitals in said con
veyance or conveyances as to facts
essential to a valid sale to be binding
upon Owner; that the aforesaid power
of sale and agency are coupled with an
interest and are irrevocable by death or
otherwise, and are granted as cumula
tive of the other remedies provided by
the Security Instrument or by law for
collection of the Secured Indebtedness
and shall not be exhausted by one
exercise thereof but may be exercised
until full payment of all of the Secured
Indebtedness; that in the event of any
sale under the Security Instrument by
virtue of the exercise of the powers
therein granted, or pursuant to any
order in any judicial proceeding or oth
erwise, the Secured Property may be
sold as an entirety or in separate
parcels and in such manner or order as
Lender in its sole discretion may elect,
and if Lender so elects, Lender may
sell the personal property covered by
the Security Instrument at one or more
separate sales in any manner permit
ted by the Uniform Commercial Code
of the State of Georgia, and one or
more exercises of the powers therein
granted shall not extinguish nor
exhaust such powers, until the entire
Secured Property is sold or the
Secured Indebtedness is paid in full;
and that if the Secured Indebtedness is
further secured by any chattel mort
gages, pledges, contracts of guaranty,
assignments of lease or other security
instruments, Lender may at its option
exhaust the remedies granted under
any of said security instruments either
concurrently or independently, and in
such order as Lender may determine;
and
WHEREAS, the Security Instrument
further provides that if an Event of
Default shall have occurred and be
continuing, Lender may, in addition to
and not in abrogation of the power of
sale set forth above, either with or with
out entry or taking possession as pro
vided in the Security Instrument or oth
erwise, proceed by a suit or suits in law
or in equity or by any other appropriate
proceeding or remedy (a) to enforce
payment of the Note or the perform
ance of any term, covenant, condition
or agreement of the Security
Instrument or any other right under the
Loan Documents, and (b) to pursue
any other remedy available to it, all as
Lender shall determine most effective
for such purposes; and
WHEREAS, the Security Instrument
further provides that in the event of an
Event of Default Lender may apply the
monthly deposits made by Owner
under Paragraph A.8 of the Security
Instrument and held by Lender (collec
tively, the “Funds”) first to accrued
interest and then to the principal bal
ance of the Secured Indebtedness,
and accordingly, all Funds in Lender’s
possession will be applied first toward
payment of accrued interest and then
to the outstanding principal balance of
the Secured Indebtedness; and
WHEREAS, the Security Instrument
further provides that upon any foreclo
sure sale or sales of all or any portion
of the Secured Property under the
power granted therein, Lender may bid
and purchase at such sale or sales and
shall be entitled to apply all or any part
of the Secured Indebtedness as a
credit to the purchase price; and
WHEREAS, the Security Instrument
further provides that in the event of any
such foreclosure sale or sales under
the power granted therein, Owner shall
be deemed a tenant holding over and
shall forthwith deliver possession to
the purchaser or purchasers at such
sale or be summarily dispossessed
according to provisions of law applica
ble to tenants holding over; and
WHEREAS, the Security Instrument
further provides that in the event of a
foreclosure or a sale of all or any por
tion of the Secured Property under the
power granted therein, the proceeds of
said sale shall be applied, in whatever
order Lender in its sole discretion may
decide, to the expenses of such sale
and of all proceedings in connection
therewith, including reasonable attor
ney's fees, to insurance premiums,
liens, assessments, taxes and charges
including utility charges advanced by
Lender, to all other advances made by
Lender pursuant to the Security
Instrument, to payment of the prepay
ment fee and late charges specified in
the Loan Documents, to payment of
the outstanding principal balance of
the Secured Indebtedness, and to all
other amounts due the Lender under
the Security Instrument, the Note or
the other Loan Documents, and to the
accrued interest on all of the foregoing;
and the remainder, if any, shall be paid
to Owner, or to the person or entity
lawfully entitled thereto;
NOW, THEREFORE, under and
pursuant to the power of sale con
tained in the Security Instrument and
according to the terms of the Security
Instrument and the laws in such cases
made and provided, Lender will expose
the Secured Property (less and except
any Funds) for sale, at public sale to
the highest bidder, for cash on that cer
tain first Tuesday in October, being
October 1,2013, during the legal hours
for sale, before the courthouse door in
Camden County, Georgia.
The Secured Property will be sold
subject to the following:
1. Forty foot (40 1 ) building setback
line along Georgia Highway No. 40 as
shown plat of survey recorded in Plat
Drawer 1, Page 154-A, Camden
County Records.
2. Conveyance of Access Rights
from Michael A. Akel and Georgie A.
Helow, Trustee to Department of
Transportation, State of Georgia, dated
March 25, 1987, filed for record March
31, 1987 and recorded in Deed Book
275, Page 157, aforesaid records.
3. Easement for Right-Of-Way,
Utilities and Drainage from Michael A.
Akel; and Georgia A. Helow, Trustee for
Helow Properties, Inc. to Discount Auto
Parts, Inc., dated February 10, 1993,
filed for record February 23, 1993 and
recorded in Deed Book 475, Page 545,
aforesaid records.
4. Right of Way Deed from George
A. Helow to Camden County, dated
May 5, 2000, filed for record June 14,
2000 and recorded in Deed Book 768,
Page 704, aforesaid records.
5. Right of Way Deed from Kings
Bay Village Partnership to Camden
County, dated May 15, 2000, filed for
record June 14, 2000 and recorded in
Deed Book 768, Page 716, aforesaid
records.
6. Short Form Lease from Kings
Bay Village Partnership to Beall's
Outlet Stores-GA, Inc., a Georgia cor
poration, dated March 23, 2001, filed
for record April 25, 2001 and recorded
in Deed Book 808, Page 205, aforesaid
records; as affected by that certain
Confirmation of Lease Term
Agreement between Kings Bay Village
Partnership II and Beall's Outlet
Stores-GA, Inc., a Georgia corpora
tion, dated August 20, 2001, filed for
record September 28, 2001 and
recorded in Deed Book 835, Page 50,
aforesaid records.
7. Memorandum of Lease from
Kings Bay Village Partnership, II a
Florida general partnership, to Belk-
Hudson Co., St. Mary's, Ga., Inc., a
Georgia corporation, dated October
11, 1990, filed for record October 26,
1990 and recorded in Deed Book 414,
Page 132, aforesaid records.
8. Memorandum of Lease from
Kings Bay Village Partnership II, a
Florida general partnership, with M. A.
Akel, an individual, and Helow
Properties, Ltd., a Florida limited part
nership, as its general partners to
Martin Cinemas of Kentucky, Inc., a
Kentucky corporation, dated June 27,
1991, filed for record July 1, 1991 and
recorded in Deed Book 429, Page 34,
aforesaid records; as affected by that
certain Assignment and Assumption of
Lease between Martin Cinemas of
Kentucky, Inc,, a Kentucky corporation,
Regal Cinema, Inc., a Tennessee cor
poration, and Kings Bay Village
Partnership II, a Florida general part
nership, with M. A. Akel, an individual,
and Helow Properties Ltd., a Florida
limited partnership, as its general part
ners, dated June 28, 1991, filed for
record July 1, 1991 and recorded in
Deed Book 429, Page 43, aforesaid
records; as further affected by that cer
tain Memorandum of Lease from Kings
Bay Village Partnership II, a Florida
general partnership with M. A. Akel, an
individual, and Helow Properties, Ltd.,
a Florida limited partnership, as its
general partners to Regal Cinemas,
Inc., a Tennessee corporation, dated
June 28, 1991, filed for record July 1,
1991 and recorded in Deed Book 429,
Page 55, aforesaid records; as affected
by that certain Assignment and
Assumption of Lease Agreement
between Regal Cinemas, Inc., a
Tennessee corporation, Southern
Cinemas, Inc. joined by Georgia
Theatre Company, jointly and severally,
King Bay Village Partnership II, a
Florida general partnership, with M. A.
Akel, an individual, and Helow
Properties, Ltd., a Florida limited part
nership, as its general partner and
Martin Cinemas of Kentucky, Inc., a
Kentucky corporation, dated April 28,
1995, filed for record May 8, 1995 and
recorded in Deed Book 556, Page 338,
aforesaid records; as further affected
by that certain Quitclaim Deed from
Georgia Theatre Company II to
Camden County, Georgia, a political
subdivision of the State of Georgia,
dated May 15, 2000, filed for record
June 14, 2000 and recorded in Deed
Book 768, Page 724, aforesaid
records.
9. Short Form Lease from Kings
Bay Village Partnership II, a Florida
general partnership, to Georgia
Theatre Company - II, a Georgia cor
poration, dated January 23, 2003, filed
for record February 21, 2003 and
recorded in Deed Book 933, Page 256,
aforesaid records; as affected by that
certain Deed to Secure Debt,
Assignment of Rents and Leases, and
Security Agreement between Georgia
Theatre Company - II, a Georgia cor
poration, to General Electric Capital
Corporation, a Delaware corporation,
dated February 13, 2003, filed for
record February 21, 2003 and record
ed in Deed Book 933, Page 265, afore
said records; as affected by that certain
Affidavit filed for record February 18,
2003 and recorded in Deed Book 933,
Page 290, aforesaid records; as affect
ed by that certain UCC-1 Financing
Statement showing Georgia Theatre
Company - II, as Debtor and General
Electric Capital Corporation, as Agent,
as Secured Party, filed for record
February 21, 2003 and recorded in
Deed Book 933, Page 294, aforesaid
records; as further affected by that cer
tain First Amendment to Deed to
Secure Debt, Assignment of Rents and
Leases and Security Agreement
between Georgia Theatre Company -
II, a Georgia corporation and General
Electric Capital Corporation, a
Delaware corporation, as Agent, dated
December 14, 2004, filed for record
December 28, 2004 and recorded in
Deed Book 1104, Page 392, aforesaid
records, as the rights of the parties to
all of the foregoing are affected by that
certain Quitclaim Deed of Release by
General Electric Capital Corporation,
as Agent, as Grantor, in favor of
Georgia Theatre Company - II, as
Grantee, dated November 13, 2009,
filed for record January 11, 2010 and
recorded in Deed Book 1509, Page
140, aforesaid records.
10. Survey by Ernest G. Bennett, Jr.,
GA R.L.S. No 2893, Survey dated
March 25, 2005, signed and revised
May 27, 2005, shows the following:
a. Drainage pipes and facilities
throughout the Property;
b. Sanitary sewer lines crossing the
Property;
c. Driveways onto property to the
east (Bank and Discount Auto) parcels;
d. Asphalt and concrete encroach
from property to the South; and
e. Pavement extends onto Parcel
"C".
11. Declaration of Easement,
Covenants, Conditions and
Restrictions by and between Kings Bay
Village II, LLP, a Florida limited liability
partnership, dated June 16, 2005, and
filed July 1, 2005, and recorded in
Deed Book 1158, Page 0004, afore
said records.
12. All taxes assessed against the
Secured Property for the year 2012
and subsequent years, and any addi
tional taxes which result from a
reassessment of the Secured Property
for prior years.
13. Riparian rights, if any, affecting
the Secured Property.
14. All valid zoning ordinances.
15. All other, if any, easements, lim
itations, reservations, covenants,
restrictions, leases, deeds to secure
debt, liens, tax obligations, and other
encumbrances and matters of public
records to which the Security
Instrument is junior and subordinate in
terms of priority under the laws of the
State of Georgia.
The aforesaid Events of Default
having occurred and continuing, the
sale of the Secured Property under
and pursuant to the power of sale con
tained in the Security Instrument will
be made for the purpose of applying
the proceeds thereof as provided for in
the Security Instrument and pursuant
to applicable law.
The Secured Property will be sold
on an “as is, where is” basis without
recourse against Lender and without
representation or warranty of any kind
or nature whatsoever with respect
thereto, and with no assurance afford
ed as to the exact acreage of the land
which is a part of the Secured
Property.
To the best of Lender’s knowledge
and belief: (a) the Secured Property is
presently owned by Owner; and (b)
Owner and parties claiming a right of
possession under Owner are the par
ties in possession of the Secured
Property.
Lender has complied with the
requirement for giving of notice to
Owner, pursuant to O.C.G.A. §44-14-
162.2, of the initiation of these pro
ceedings to exercise the power of sale
contained in the Security Instrument.
The undersigned may sell the
Secured Property or any part of the
Secured Property in such manner and
order as Lender may elect and may
sell that portion of the Secured
Property, which, under the laws of the
State of Georgia, constitutes an estate
or interest in real estate separately
from that portion of the Secured
Property, which, under the laws of the
State of Georgia, constitutes personal
ty and not an interest in real estate, in
which case separate bids will be taken
therefor, or collectively in a single sale
or lot, in which case a single bid will be
taken therefor. Notice of the under
signed’s intent shall be given by
announcement made at the com
mencement of the public sale.
The recitals appearing above are
herein incorporated by this reference
and are made a part of this Notice of
Sale Under Power.
UNITED OF OMAHA LIFE INSUR
ANCE COMPANY, a Nebraska corpo
ration, and 2603 OSBORNE ROAD
LLC, an Oregon limited liability com
pany, collectively
as agent and attorney-in-fact for ST.
MARYS PROPERTY, L.L.C., a Florida
limited liability company
By: its attorney-at-law:
/Peter B. Glass/
Peter B. Glass
Ledbetter Wanamaker Glass LLP
400 Colony Square, Suite 1501
1201 Peachtree Street, NE
Atlanta, Georgia 30361
(404) 835-9504
9/4, 9/11,9/18, 9/25 - #7937
Ike anil searchable at