SUBSTITUTE TRUSTEE’S NOTICE OF FORECLOSURE SALE OF REAL PROPERTY
THIS ACTION BROUGHT PURSUANT TO THE POWER AND AUTHORITY contained within that certain Deed of Trust executed and delivered by Dora Mae Johnson, dated April 9, 2008 and recorded on April 14, 2008 in Book 5301 at Page 1357 in the Office of the Register of Deeds of New Hanover County, North Carolina. As a result of a default in the obligations contained within the Promissory Note and Deed of Trust and the failure to carry out and perform the stipulations and agreements contained therein, the holder of the indebtedness secured by said Deed of Trust made demand to have the default cured, which was not met. Therefore, the undersigned Substitute Trustee will place for sale that parcel of land, including improvements thereon, situated, lying and being in the City of Wilmington, County of New Hanover, State of North Carolina, and being more particularly described in the heretofore referenced Deed of Trust. Said sale will be a public auction, to the highest bidder for cash, at the usual place of sale at the New Hanover County Courthouse, Wilmington, North Carolina on February 15, 2017 at 10:00 AM.
Address of property: 1414 Queen Street, Wilmington, NC 28401
Tax Parcel ID: R05410-013-017-000
Present Record Owners: Heirs of Dora Mae Johnson
The terms of the sale are that the real property hereinbefore described will be sold for cash to the highest bidder. A deposit of five percent (5%) of the amount of the bid or Seven Hundred Fifty Dollars ($750.00), whichever is greater, is required and must be tendered in the form of certified funds at the time of the sale. The successful bidder will be required to pay revenue stamps on the Trustee’s Deed, any Land Transfer Tax, and costs for recording the Trustee’s Deed.
The real property hereinabove described is being offered for sale “AS IS, WHERE IS” and will be sold subject to all superior liens, unpaid taxes, special assessments, and other encumbrances. Other conditions will be announced at the sale. The sale will be held open for ten (10) days for upset bids, as by law required. The sale will not confirm until there have been ten (10) consecutive days with no upset bids having been filed.
If for any reason the Trustee is unable to convey title to this property, or if the sale is set aside, the sole remedy of the purchaser is the return of the bid deposit. Furthermore, if the validity of the sale is challenged by any party, the Trustee, in its sole discretion, if it believes the challenge to have merit, may declare the sale to be void and return the bid deposit. In either event, the purchaser will have no further recourse against the Mortgagor, the Mortgagee, the Mortgagee’s attorney, or the Trustee.
Additional Notice Required for Residential Real Property with Less Than Fifteen (15) Rental Units:
An order for possession of the property may be issued pursuant to G.S. 45-21.29 in favor of the purchaser and against the party or parties in possession by the clerk of superior court of the county in which the property is sold.
Any person who occupies the property pursuant to a rental agreement entered into or renewed on or after October 1, 2007, may, after receiving the notice of sale, terminate the rental agreement by providing written notice of termination to the landlord, to be effective on a date stated in the notice that is at least 10 days, but no more than 90 days, after the sale date contained in the notice of sale, provided that the mortgagor has not cured the default at the time the tenant provides the notice of termination. Upon termination of a rental agreement, the tenant is liable for rent due under the rental agreement prorated to the effective date of the termination.
Assistant/Deputy Clerk of Superior Court
Albertelli Law Partners North Carolina, P.A., Substitute Trustee
Albertelli Law Partners North Carolina, P.A.
Michael L., Attorney
N.C. Bar Number 37066
205 Regency Executive Park Drive
Charlotte, NC 28217
2/2 and 2/9/2017