Legal Notices for 10/20/10, page 4

 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 15th day of October, 2010.

HOWARD O. MANN, MASTER COMMISSIONER

P.O. BOX 1344, CORBIN, KY 40702

TELEPHONE: (606) 528-0616; FACSIMILE: (606) 528-0709

COMMONWEALTH OF KENTUCKY

34TH JUDICIAL CIRCUIT

WHITLEY CIRCUIT COURT

DIVISION NO. I

CIVIL ACTION NO. 10-CI-00375

HSBC BANK USA, N.A. AS TRUSTEE ON BEHALF OF ACE SECURITIES CORP. HOME EQUITY LOAN TRUST AND FOR THE REGISTERED HOLDERS OF ACE SECURITIES CORP. HOME EQUITY LOAN TRUST, SERIES 2005-SN1, ASSET BACKED PASS THROUGH CERTIFICATES, PLAINTIFF, VS. KLARA MULLIS; TERRY W. MULLIS; COMMONWEALTH OF KENTUCKY, COUNTY OF KNOX; THE MONEY STORE HOME EQUITY CORP.; CREDIGY RECEIVABLES, INC.; JAMOS FUND I, LP; AND COMMONWEALTH OF KENTUCKY, COUNTY OF WHITLEY, DEFENDANTS.

NOTICE OF COMMISSIONER’S SALE

Pursuant to Judgment and Order of Sale entered by the Whitley Circuit Court on September 7, 2010, I shall offer for sale at the Courthouse door in Williamsburg, Kentucky, at public action on Monday, November 8, 2010 at 12:00 p.m., or thereabout, the real property described in this Notice.

The judgment against the defendants, Klara Mullis and Terry W. Mulls, plus costs, are as follows:

(1) The principal sum in the amount of $76,485.49, together with accrued interest thereon at the rate of 7.87500% per annum from July 22, 2010, until the amount has been paid in full.

The said real property is located in Whitley County, Kentucky and is more specifically described as follows:

The following described property, to-wit:  A certain tract or parcel of land lying in Whitley County, Kentucky, and bounded and described as follows:

BEING on Lynn Camp Creek.  Beginning on a stone at the County Road; thence eastward 7 ½ poles to a stone; thence northward five (5) pole to sassafras on the bank of Lynn Camp Creek: thence with the meanders of the creek to the bridge across Lynn Camp Creek; thence with the county road to the beginning.

Also:

BEGINNING on a stone at the county road, thence eastward 7 ½ poles to a stone; thence northward 6 feet to a stone; thence 7 ½ poles westward to a stone by county road; thence back to the beginning corner.

BEING the same property conveyed to Klara Mullis and husband Terry Wayne Mullis, for their joint lives as tenants in common with the remainder in fee simple to the survivor of them by that Deed dated January 7, 2010 and recorded on February 8, 2010, in Book 494 at Page 323, in the Whitley County Court Clerk’s Office.

Said property address is: 356 Back Street, Woodbine, Kentucky 40771.

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% down of the purchase price together with a bond (for the remainder of the purchase price) with good and sufficient surety, bearing interest from the day of the sale and payable to the Master Commissioner within 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 15th day of October, 2010.

HOWARD O. MANN, MASTER COMMISSIONER

P.O. BOX 1344, CORBIN, KY 40702

TELEPHONE: (606) 528-0616; FACSIMILE: (606) 528-0709