Master Commissioner Sales 12-28-16

COMMONWEALTH OF KENTUCKY

34TH JUDICIAL CIRCUIT

WHITLEY CIRCUIT COURT

DIVISION NO. II

CIVIL ACTION NO.

15-CI-00090

Bank of America, N.A., Plaintiff,

VS.

Charles A. Smith; Amanda P. Smith, Defendants.

NOTICE OF COMMISSIONER’S SALE

Pursuant to a Judgment and Order of Sale entered by the Whitley Circuit Court on April 18, 2016 and a subsequent Order entered November 21, 2016, I shall offer for sale at the door of the Whitley County Judicial Center, (new courthouse), 100 Main Street, Williamsburg, Kentucky, at public auction on TUESDAY, January 17, 2017, at 12:00 p.m., or thereabout, the real property described in this Notice.

The In Rem judgment against the Defendants, Charles A. Smith and Amanda P. Smith, plus costs, is as follows:

(1) The principal sum in the amount of $116,682.01, with interest on the principal sum at the rate of 4.75% per annum from September 1, 2014, until paid; plus costs and fees herein; plus reimbursement for attorney’s fees; plus any sums advanced in payment of ad valorem taxes, insurance premiums, winterization, or in preservation of the real estate, plus late fees, costs, attorney’s fees, or other advances made pursuant to the terms of the Note and Mortgage.

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

Commonly known as:  140 Partin Road, Corbin, KY 40701.

Parcel No.: 118-00-00-081.04

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 ten percent (10%) down with the balance in thirty (30) days with interest at 12% per annum from the date of sale until paid.  Signatures of principal and surety on the bond shall have the effect of a Judgment.  In the event the Plaintiff or its representative is the purchaser for a sum equal to or less than its judgment granted against the Defendants, then, and in that event, they shall only be required to pay costs and expenses of the sale and no down payment shall be required and no bond shall be executed by them.

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 2017 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 six (6) month right of redemption will exist pursuant to KRS 426.530 (revised July 15, 2014).

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

Dated this 22nd day of December, 2016.

HOWARD O. MANN, MASTER COMMISSIONER

WHITLEY CIRCUIT COURT

P. O. BOX 1344

CORBIN, KENTUCKY 40702

PHONE: 606-528-0616