Legal Notices for 02/24/10, page 2

 

 PIDN: 138-30-06-012.00

Group:

Prior Instrument: Deed Book 450, Page 79 of the Whitley County Clerk’s Office

Office File Number: 08-2172

PIDN: 138-30-06-012.00

All those certain lots in Mountain Lake Park Addition to the City of Corbin, map of which is on record in the office of the Whitley County Clerk in Map Book #1, Page 116, and which lots are numbered 15,16,17,18 and so much if Lot #4 as lies North of Bacon Creek which lots front from Lake Avenue for a distance of 50 feet each and extend back East approximately 162 feet. To said map reference is made further description.  Said lots are in Block K and Block L in said addition. 

AND

Said property being known on the Mountain Park Addition, as it lies between Block “J” and Block “K”, recorded in Map Book No. 1, Page 116, records of the Whitley County Court Clerk’s Office, Williamsburg, Kentucky.  Said property being located in Corbin, Whitley County, Kentucky.

Beginning at a survey marker (2130) being a northwest corner of property belonging to the Corbin Board of Education [recently purchased from the GF Jones Estate, (DB 162, Pg. 270)].  Said survey marker also being a northeast corner of William A. Bird and Selma J. Bird [DB 245, Pg. 041]; thence leaving the lines of the Corbin Board of Education, N. 87º 38’ 15” W., with a north line of William A. Bird and Selma J. Bird, 162.00 feet to the east right of way of South Lake Avenue; thence leaving the lines of William A. Bird and Selma J. Bird, continuing with the east right of way of South Lake Avenue; thence N 03º 19’ 33” W., 15.075 feet to a survey marker (set); thence leaving the east right of way of South Lake Avenue, S 87º 38’ 15” E., passing a survey marker (set) at 151.25 feet, in all a total distance of 161.35 feet to a survey marker (set); thence S 05º 46’ 58” E., 15.15 feet to the beginning corner; containing 0.0557 acres.

The north datum utilized for this description is based on magnetic north as observed on the Stonington of Bacon Creek Subdivision.

All survey markers (set) are ½” rebars approximately 24 inches in length with a plastic cap stamped PLS No. 2130.

Survey and description by J.O. Cannon & Associated, Inc., while under the direct supervision of Bill Ed Cannon, Ky PLS No. 2130.

Subject to any and all easements, restriction, conditions, and legal highways of record and/or in existence. 

Being the same property conveyed from William A. Bird and Selma J. Bird, husband and wife, to Joseph V. Cornett and Anngeleda M. Cornett, husband and wife, by virtue of a deed dated 01/26/2004 and recorded on 01/30/2004 at Deed Book 450, Page 79 of the Whitley County, Kentucky real estate records.

Said property address is: 1915 South Lake Avenue, Corbin, KY 40701.

TERMS OF SALE

1. The above property is indivisible and shall be sold as a whole to produce the sum of money so ordered to be made.

2. On the date of sale, the purchaser shall either pay cash or, with surety on a bond approved by the Commissioner, may pay (10%) Ten Percent down with the balance in 60 days with interest at 12%.  Signatures of principal and surety on the bond shall have the effect of a Judgment.

3. The risk of loss for the subject property shall pass to the purchaser on the date of sale.  Possession of the premises shall pass to the purchaser upon payment of the purchase price and delivery of deed.

4. The purchaser shall be required to assume and pay all taxes or assessments upon the property for the current tax year and all subsequent years.  All taxes or assessments upon the property for prior years shall be paid from the sale proceeds if properly claimed in writing and filed of record by the purchaser prior to payment of the purchase price.

5. The property shall be sold subject to the following:

a. Easements, restrictions and stipulations of record;

b. Assessments for public improvements levied against the following real estate;

c. Any facts which an inspection and accurate survey of the following described real estate may disclose.

6. If the property does not bring two-thirds of its appraised value, a one year right of redemption will exist pursuant to KRS 426.530.

7. This property is sold subject to the right of redemption, if applicable, provided in 28 USCA Sec. 2410.

Dated this 12th day of February, 2010.

HOWARD O. MANN, MASTER COMMISSIONER

WHITLEY CIRCUIT COURT

P. O. BOX 1344, CORBIN, KY 40702

TELEPHONE: (606) 528-0616

 

COMMONWEALTH OF KENTUCKY

34TH JUDICIAL CIRCUIT

WHITLEY CIRCUIT COURT

DIVISION NO. I

CIVIL ACTION NO. 09-CI-00912

CHASE HOME FINANCE, LLC, PLAINTIFF,

VS.

STEPHANIE J. SKIDMORE, JOSHUA D. SKIDMORE, DEFENDANTS.

NOTICE OF COMMISSIONER’S SALE

Pursuant to a Judgment and Order of Sale entered by the Whitley Circuit Court on February 1, 2010, I shall offer for sale at the Courthouse door in Williamsburg, Kentucky, at public auction on Monday, March 8, 2010, at 12:00 p.m., or thereabout, the real property described in this Notice.

The judgment against the defendants, Stephanie J. Skidmore and Joshua D. Skidmore, plus costs, are as follows:

(1) The principal sum in the amount of $62,721.90, plus interest from 06/1/09 in the amount of $2,562.46, plus advancements for the protection of the property, including taxes and insurance (negative escrow) in the amount of $1,530.25, plus attorney fees (KRS 411.195) in the amount of $1,100.00 for a total in the amount of $67,914.61.

The property to be sold is as follows:

BEGINNING on the south side of Florence Street at the N.W. corner of Sol Cox line at a steel stake; thence S 14 ½ E 288 feet to a steel stake in the hollow; thence N 71W up the hollow 160 feet to an elm tree in the branch hollow; thence N 8 W 185 feet to a stake on Florence Avenue (Street); thence with said street 117 feet to the beginning, containing one house and lot. 

BEING ALL OF THE SAME LAND acquired by Stephanie J. Skidmore and Joshua D. Skidmore, husband and wife, by a deed of conveyance from Dallas E. Petrey and Carolyn B. Petrey, husband and wife, dated October 19, 2006 and recorded in Deed Book 473 at page 94 in the office of the Whitley County Court Clerk at Williamsburg, Kentucky.

Said property address is:  299 Florence Avenue, Williamsburg, KY 40769.

TERMS OF SALE

1. The above property is indivisible and shall be sold as a whole to produce the sum of money so ordered to be made.

2. On the date of sale, the purchaser shall either pay cash or, with surety on a bond approved by the Commissioner, may pay one-third (1/3) down with the balance in 30 days with interest at 12%.  Signatures of principal and surety on the bond shall have the effect of a Judgment.

3. The risk of loss for the subject property shall pass to the purchaser on the date of sale.  Possession of the premises shall pass to the purchaser upon payment of the purchase price and delivery of deed.

4. The purchaser shall be required to assume and pay all taxes or assessments upon the property for the current tax year and all subsequent years.  All taxes or assessments upon the property for prior years shall be paid from the sale proceeds if properly claimed in writing and filed of record by the purchaser prior to payment of the purchase price.

5. The property shall be sold subject to the following:

a. Easements, restrictions and stipulations of record;

b. Assessments for public improvements levied against the following real estate;

c. Any facts which an inspection and accurate survey of the following described real estate may disclose.

6. If the property does not bring two-thirds of its appraised value, a one year right of redemption will exist pursuant to KRS 426.530.

7. This property is sold subject to the right of redemption, if applicable, provided in 28 USCA Sec. 2410.

Dated this 12th day of February, 2010.

HOWARD O. MANN, MASTER COMMISSIONER

WHITLEY CIRCUIT COURT

P. O. BOX 1344, CORBIN, KY 40702

TELEPHONE: (606) 528-0616

COMMONWEALTH OF KENTUCKY

34TH JUDICIAL CIRCUIT

WHITLEY CIRCUIT COURT

DIVISION NO. I

CIVIL ACTION NO. 09-CI-00778

VANDERBILT MORTGAGE AND FINANCE, INC., PLAINTIFF,

VS.

JAMES R. LOVITT, LIDDIE K. LOVITT,  WHITLEY COUNTY, KENTUCKY, ASSET ACCEPTANCE, LLC AND DFS SERVICES,

F/K/A DISCOVER FINANCIAL SERVICES,

LLC, SERVICING AGENT FOR DISCOVER BANK, DEFENDANTS.

NOTICE OF COMMISSIONER’S SALE

Pursuant to a Judgment and Order of Sale entered by the Whitley Circuit Court on February 1, 2010, I shall offer for sale at the Courthouse door in Williamsburg, Kentucky, at public auction on Monday, March 8, 2010, at 12:00 p.m., or thereabout, the real property described in this Notice.

The judgment against the defendants, James R. Lovitt and Liddie K. Lovitt, plus costs, are as follows:

(1) The sum in the amount of $51,585.48 with interest thereon at the contract rate of 10.00% per annum from October 12, 2009, until the date of entry hereof, and thereafter at the contract rate, until paid.

The property to be sold is as follows:

Situated in Whitley County, Kentucky:

Beginning at a steel post, along the Cane Creek Road, at a common corner between Benjamin Nix and Littie Lovitt; thence along the line of Benjamin Nix to a steel post; thence along the line of Benjamin Nix to a white pine in the line of Johnny Nix; thence along the line of Johnny Nix to a stake at the line of Don Ball, a white pine; thence along the line of Don Ball to a big beach tree, new corner of Beulah Nix and Littie Lovitt; thence a new line between Beulah Nix and Littie Lovitt to a stake, corner of Glenn Nix; thence along the line of Glenn Nix to an oak tree; thence along the Cane Creek Road to the Beginning post. 

Being the same property conveyed to Liddie Katherine Lovitt by deed dated November 2, 1993, of record in Deed Book 368, Page 20 in the Office of the Whitley County clerk. AND

A 2006 Clayton Mobile Home, Serial No. CLM086322TN, currently situated on the subject real property, described herein.

Said property address is:  699 Cane Creek Road, Williamsburg, KY 40769.

TERMS OF SALE

1. The above property is indivisible and shall be sold as a whole to produce the sum of money so ordered to be made.

2. On the date of sale, the purchaser shall either pay cash or, with surety on a bond approved by the Commissioner, may pay (10%) Ten Percent down with the balance in 45 days with interest at 12%.  Signatures of principal and surety on the bond shall have the effect of a Judgment.

3. The risk of loss for the subject property shall pass to the purchaser on the date of sale.  Possession of the premises shall pass to the purchaser upon payment of the purchase price and delivery of deed.

4. The purchaser shall be required to assume and pay all taxes or assessments upon the property for the current tax year and all subsequent years.  All taxes or assessments upon the property for prior years shall be paid from the sale proceeds if properly claimed in writing and filed of record by the purchaser prior to payment of the purchase price.

5. The property shall be sold subject to the following:

a. Easements, restrictions and stipulations of record;

b. Assessments for public improvements levied against the following real estate;

c. Any facts which an inspection and accurate survey of the following described real estate may disclose.

6. If the property does not bring two-thirds of its appraised value, a one year right of redemption will exist pursuant to KRS 426.530.

7. This property is sold subject to the right of redemption, if applicable, provided in 28 USCA Sec. 2410.

Dated this 12th day of February, 2010.

HOWARD O. MANN, MASTER COMMISSIONER

WHITLEY CIRCUIT COURT

P. O. BOX 1344, CORBIN, KY 40702

TELEPHONE: (606) 528-0616

COMMONWEALTH OF KENTUCKY

34TH JUDICIAL CIRCUIT

WHITLEY CIRCUIT COURT

DIVISION NO. I

CIVIL ACTION NO. 09-CI-00272

COUNTRYWIDE HOME LOANS SERVICING, L.P., PLAINTIFF,

VS.

ERNEST GOODIN, III, COUNTY OF WHITLEY, DEFENDANTS.

NOTICE OF COMMISSIONER’S SALE

Pursuant to a Judgment and Order of Sale entered by the Whitley Circuit Court on July 9, 2009 and subsequent Judgment and Order of Sale entered on  February 1, 2010, I shall offer for sale at the Courthouse door in Williamsburg, Kentucky, at public auction on Monday, March 8, 2010, at 12:00 p.m., or thereabout, the real property described in this Notice.

The judgment against the defendant, Ernest Goodin, III, plus costs, are as follows:

(1) The principal sum in the amount of $178,265.00, plus interest from 06/1/08 in the amount of $12,720.71, plus advancements for the protection of the property, including taxes and insurance (negative escrow) in the amount of $2,781.89, plus late charges in the amount of $445.97, plus credits in the amount of $(46.77), plus attorney fees (KRS 411.195) in the amount of $1,100.00, for a total in the amount of $195,266.80.   

The property to be sold is as follows: EXHIBIT “A”

A certain tract or parcel of land lying in Whitley County, Kentucky, and being further referred to as Lot 14, Westwood Lane, and bounded and described as follows:

BEGINNING at a 5/8” x 20” steel rod set at the base of a wooden post, 12.5 feet north of the centerline of Westwood Lane, part of Deed Book 370, Page 708 a corner to the Shelby Mays reserve parcel, part of Deed Book 370, Page 708; thence leaving said Mays reserve parcel and running with said Westwood Lane, S-71-09-57-W, 139.35 feet to a 5/8” X 20” steel rod set, 12.5 feet north of centerline of said lane; thence S-50-53-23 W.36.84 feet to a 5/8” X 20” steel rod set  9 feet Northwest of centerline of said Lane, a corner to the Shelby Mays Lot 13, part of Deed Book 370, Page 708; thence leaving said Westwood Lane and running with the line said Shelby Mays Lot 13, N 32-12-28 W, 297.95 feet to a 16” Chestnut Oak found with three backs on two sides, a corner to Charles Cornelius, Deed Book 298, Page 319, and Grant Hamblin, Deed Book 388, Page 482, and from which a 5/8” X 20” steel rod reference monument set with a plastic cap stamped RSP, PLS 2776, Ref. Mon., bears S 15-48-42 W, 4.29 feet; thence leaving said Mays Lot 13, and said Hamblin and running with the line of said Cornelius, S 82-42-41 E, 323.36 feet to a set stone found, a corner to the aforementioned Shelby Mays reserve parcel; thence leaving said Cornelius and running with the line of said Mays, S 00-34-09 W, 142.85 feet to the place of beginning.

Being the same property conveyed to Robert Freeman and wife, Kelly Freeman, by virtue of a deed from Marvin Lee Bryant Jr. and wife, Sue Anne Litton, dated October 3, 2003, filed October 8, 2003, recorded in Deed Book 447, Page 293, County Clerk’s Office, Whitley County, Kentucky.

Being the same property conveyed by deed to Ernest Goodin III from Kelly Freeman, dated April 20th, 2007, recorded in Deed Book 476, Page 541 of records in the Whitley County Clerk’s Office, Williamsburg, KY 

Said property address is:  261 Westwood Drive, Williamsburg, KY 40769.

TERMS OF SALE

1. The above property is indivisible and shall be sold as a whole to produce the sum of money so ordered to be made.

2. On the date of sale, the purchaser shall either pay cash or, with surety on a bond approved by the Commissioner, may pay one-third (1/3) down with the balance in 30 days with interest at 12%.  Signatures of principal and surety on the bond shall have the effect of a Judgment.

3. The risk of loss for the subject property shall pass to the purchaser on the date of sale.  Possession of the premises shall pass to the purchaser upon payment of the purchase price and delivery of deed.

4. The purchaser shall be required to assume and pay all taxes or assessments upon the property for the current tax year and all subsequent years.  All taxes or assessments upon the property for prior years shall be paid from the sale proceeds if properly claimed in writing and filed of record by the purchaser prior to payment of the purchase price.

5. The property shall be sold subject to the following:

a. Easements, restrictions and stipulations of record;

b. Assessments for public improvements levied against the following real estate;

c. Any facts which an inspection and accurate survey of the following described real estate may disclose.

6. If the property does not bring two-thirds of its appraised value, a one year right of redemption will exist pursuant to KRS 426.530.

7. This property is sold subject to the right of redemption, if applicable, provided in 28 USCA Sec. 2410.

Dated this 12th day of February, 2010.

HOWARD O. MANN, MASTER COMMISSIONER

WHITLEY CIRCUIT COURT

P. O. BOX 1344, CORBIN, KY 40702

TELEPHONE: (606) 528-0616

 

COMMONWEALTH OF KENTUCKY

34TH JUDICIAL CIRCUIT

WHITLEY CIRCUIT COURT

CIVIL ACTION NO. 07-CI-00895

DIVISION NO. I

CHILDERS OIL CO., INC., PLAINTIFF

VS.

SUNSHINE VALLEY, LLC, GARY BARTON and FIRST STATE FINANCIAL, INC., DEFENDANTS

AND

FIRST STATE FINANCIAL, INC., DEFENDANT/THIRD PARTY PLAINTIFF

VS.

EDWIN NIGHBERT, ALLAN STEELY, CHARLES NIGHBERT, ALVIN SHARPE, AIK COMP, WHITLEY COUNTY, KENTUCKY, CITY OF WILLIAMSBURG, KENTUCKY and WILLIAMSBURG CITY SCHOOLS, THIRD PARTY DEFENDANTS

NOTICE OF COMMISSIONER’S SALE

Pursuant to a Judgment and Order of Sale entered by the Whitley Circuit Court on June 4, 2009 for recovery of the sum of $2,845,051.00 plus interest and costs, I shall offer for sale at the Courthouse door in Williamsburg, Kentucky, at public auction on Friday, March 5, 2010, at 1:00 p.m. or thereabout, the following described real property located in Whitley County, Kentucky, to-wit:

TRACT 1:  A certain tract or parcel of land lying in Williamsburg, Whitley County, Kentucky, and on the east side of U.S. 25-W and being a part of the same land conveyed to Sunshine Valley, LLC by deed from Alvin D. Sharpe and wife, JuAnita Sharpe, dated January 14, 2002 and recorded in Deed Book 415, Pages 188-193, Whitley County Court Clerk’s Office, and known as Butch’s II and bounded and described as follows:

PARCEL 1:  BEGINNING on a survey marker at the intersection of the westerly line of US-25W and the northerly line of Rains Street; thence running with the westerly line of US 25W, N 10° 49’ 26” E, 220.94 feet, with the road frontage of Butch’s Market Number 2, to a survey marker at the southeasterly corner of the First State Financial, Inc. tract; thence leaving US 25W and running with the southerly line of said First State Financial, Inc. tract and the northerly line of the Butch’s Market Number 2 tract, N 79° 10’ 34” W, 158.00 feet to a survey marker in said line and at the point of beginning of the parcel herein described; thence continuing with the southerly line of the original First State Financial, Inc. tract and the northerly line of the Butch’s Market Number 2 tract, N 79° 10’ 34” W, 15.00 feet to a survey marker at the original southwesterly corner of said First State Financial, Inc. tract; thence leaving the Butch’s Market Number 2 line and running with the original outside line of the First State Financial, Inc. tract, N 10° 49’ 26” E, 40.00 feet to a survey marker; thence leaving the original line and running into the First State Financial, Inc. tract and severing the same, S 79°10’ 34” E, 15.00 feet to a survey marker; thence continuing with the same S 10° 49’ 26” W, 40.00 feet to a survey marker, the point of beginning containing a calculated area of 600.00 square feet, more or less, as per survey and plat dated January 5, 2002, by Gary R. Owens, P.L.S., Kentucky Registration Number 2681.

PARCEL 2:  BEGINNING  on a survey marker in the intersection of the north line of Rains Street and the west line of US 25W, said survey marker being the southeasterly corner of the tract herein described and the point of beginning of the same, and running thence with the north line of Rains Street the following calls:  N 75°39’ 27” W, 65.69 feet to a survey marker; thence N 85°29’ 17” W, 100.35 feet to a survey marker; thence S 75°03’ 52” W, 27.29 feet to a railroad spike in a crosstie in the center of a drain and at a corner of the remainder of the Alvin Sharpe tract; thence leaving Rains Street and running with the center of a drain and into the boundary of the Alvin Sharpe tract and severing the same the following calls:  N 30° 53’ 04” W, 41.92 feet to a point in the drain witnessed by a survey marker bearing N 69° 40’ 04” E, 6.10 feet from said corner; thence N 09°46’ 47” W, 54.25 feet to a point in the drain witnessed by a survey marker bearing N 89°26’ 11” E, 6.08 feet from said corner; thence N 08° 39’ 10” E 69.19 feet to a point in the drain witnessed by a survey marker bearing S 60° 28’ 20” E, 6.86 feet from said corner; thence N 03° 27’ 11” W, 79.80 feet to a point in the drain; thence N 16°23’ 14” W, 12.66 feet to a point in the drain witnessed by a survey marker bearing S 79° 10’ 34” E, 12.00 feet from said corner; thence leaving said drain and continuing with the remainder of the Alvin Sharpe tract S 79°10’ 34” E, 91.95 feet to a survey marker at the southwesterly corner of the Lexbank, Inc. (a/k/a First State Financial, Inc.) tract; thence with the southerly line of Lexbank, Inc. tract S 79°°10’ 34” E, 173.00 feet to a survey marker at the southeasterly corner of said tract and in the west line of US 25W; thence leaving the Lexbank, Inc. tract and running with the westerly line of US 25W, S 10°°49’ 26” W, 220.94 feet to the point of beginning containing a calculated area of 1.225 acres, more or less, as per survey and plat dated May 22, 2001, by Gary R. Owens, Professional Land Surveyor, Kentucky Registration Number 2681.

The canopy, pumps and underground storage tanks will be included as though part of the realty. 

TRACT 2:  A certain tract or parcel of land lying in Williamsburg, Whitley County, Kentucky, and being all of the same land conveyed to Sunshine Valley, LLC by deed from Nighbert, LLC, dated July 10, 2001 and recorded in Deed book 428, Pages 183-185, Whitley County Court Clerk’s Office, and known as Butch’s Market, and bounded and described as follows:

PARCEL I:  BEGINNING  at a tack in a hub at the southwest corner of Standard Oil’s lot at the edge of the right-of-way of new 92 and the right-of-way is 50 feet from the centerline of the pavement, bear S 54° 55’ W, 50 feet with the right-of-way of the new 92 when reduced to a straight line to Hershell Moses; thence N 41° 50’ W, 144 feet with Moses line to a stake in J.L. White’s fence; thence N 47° 30’ E, 50 feet with White’s line and fence to a tack in a cedar post, also a corner of Standard Oil; thence S 41° 35’ E, 150.64 feet to the beginning.

PARCEL II:  BEGINNING at a steel pin in the edge of right-of-way of US 25W and corner of Franklin Davis and running thence N 40° 00’ W, 73.5 feet to a concrete marker in right-of-way of old US 25W; thence S 58° 30’ 153 feet with right-of-way of old US 25W to a concrete right-of-way marker; thence N 50° 00’ E, 25 feet to the beginning.

The canopy, pumps and underground storage tanks will be included as though part of the realty. 

TRACT 3:  A certain tract or parcel of land lying in Williamsburg, Whitley County, Kentucky, and being all of the same land conveyed to Sunshine Valley, LLC by deed from Master Commissioner of the Whitley Circuit Court for the interest of Diane Hughlett Rains, et al., dated August 7, 2001 and recorded in Deed Book 428, Pages 631-635, Whitley County Court Clerk’s Office, and known as BP, and bounded and described as follows:

BEGINNING at a point in the right-of-way line of Kentucky 92, said point being at approximate Station 5+44 east; thence leaving right-of-way of Kentucky 92 and with the right-of-way of Alternate U.S. 25W N 24° 17’ W, 149.47 feet to a concrete right-of-way marker; thence leaving right-of-way of Alternate U.S. 25W S 44° 45’ west 240.00 feet to an iron pin in C.A. right-of-way ramp to I-75; thence with C.A. right-of-way of said ramp S 62° 9’ E, 144.85 feet to an iron pin in right-of-way of Kentucky 92 and Ramp I-75; thence with right-of-way Kentucky 92 N 44° 45’ E, 143.85 feet to a concrete right-of-way marker, the BEGINNING.

There is a Pole Line Agreement between O.L. Hamlin and wife, Relda Hamlin, and Kentucky Utilities Company for a one-year period and for such time thereafter as any pole line or extension thereof may be maintained by the company, the agreement being dated August 22, 1952 and recorded in Miscellaneous Book 18, Pages 50-51.

The canopy, pumps and underground storage tanks will be included as though part of the realty. 

TRACT 4:  A certain tract or parcel of land lying in Williamsburg, Whitley County, Kentucky, and on the west side of U.S. 25-W and being a part of the same land conveyed to Sunshine Valley, LLC by deed from Alvin D. Sharpe and wife, JuAnita Sharpe, dated January 14, 2000 and recorded in Deed Book 415, Pages 188-193, Whitley County Court Clerk’s Office, and bounded and described as follows:

Being Lots No. 14, 15, 16, 17, and 22 of the Sunshine Valley Estates Subdivision as shown on Plat Book 4, Page 260, Slide 408, Whitley County Court Clerk’s Office, and subject to the General Covenants and Restrictions filed November 30, 2000 in Miscellaneous Book 111, Page 313.

TRACT 5:  A certain tract or parcel of land lying in Whitley County, Kentucky, and being all of the same land conveyed to Alvin D. Sharpe by deed from Ivan Ray Gant, II, et al. dated January 3, 2000 and recorded in Deed Book 414, Pages 748-751, Whitley County Court Clerk’s Office, ad bounded and described as follows:

BEGINNING at the culvert at the end of Jones Lumber Company’s side tract, a conditional line of the right-of-way of the Lebanon Branch Knoxville Extension of the L&N Railroad Company; thence to the Branch; thence up the Branch to a marked beech at the mouth of a drain; thence up said drain to the top of a cliff; thence southward to the line of the Elliot survey; thence with the same to Steele’s right-of-way; thence to the beginning.

TERMS OF SALE

1. Each of the five (5) separate tracts set forth above (Tracts 1, 2, 3, 4 and 5) shall first be sold individually and then combined and sold collectively as a whole and if the bid price for all of the properties combined brings more in the aggregate than the individual sales, the property shall be sold in the aggregate.

2. On the date of sale, the purchaser shall either pay cash or, with surety on a bond approved by the Commissioner, may pay 10% down with the balance due in 60 days with interest at 12%.  Signatures of principal and surety on the bond shall have the effect of a Judgment. 

3. The risk of loss for the subject property shall pass to the purchaser(s) on the date of sale.  Possession of the premises shall pass to the purchaser upon payment of the purchase price and delivery of a deed as approved by the court.

4. The purchaser shall be required to assume and pay all taxes or assessments upon the property for the current tax year and all subsequent years.  All taxes or assessments upon the property for prior years shall be paid from the sale proceeds if properly claimed in writing and filed of record by the purchaser prior to payment of the purchase price.

5. The property shall be sold subject to the following:

a. Easements, restrictions and stipulations of record;

b. Assessments for public improvements levied against the following real estate;

c. Any facts which an inspection and accurate survey of the following described real estate may disclose.

PERSONAL PROPERTY

The furniture, fixtures, equipment and inventory located on Tract 1 (Butch’s II), Tract 2 (Butch’s Market) and Tract 3 (BP), as repossessed by First State Financial, Inc., shall be sold separately from the real estate upon the same payment terms.

DATED:  this 16th day of February, 2010.

DARRELL L. SAUNDERS, PSC

SPECIAL MASTER COMMISSIONER

700 MASTER ST, P.O. BOX 1324, CORBIN, KY 40702

TELEPHONE:  (606) 523-1370; FAX NUMBER: (606) 523-1372