foreclosure sale of valuable real estate …...2018/06/27 · foreclosure sale of valuable real...

FORECLOSURE SALE OF VALUABLE REAL ESTATE AT PUBLIC AUCTION

Troy, Virginia

Albemarle County Tax Map Nos. 09400-00-00-021A8 and 09400-00-00-21C0 Fluvanna County Tax Map Nos. 2-A-A5 and 8-10-A2

SALE: WEDNESDAY, JUNE 27, 2018 AT 11:00 A.M.

ON THE FRONT STEPS OF THE ALBEMARLE COUNTY CIRCUIT COURTHOUSE 501 EAST JEFFERSON STREET, CHARLOTTESVILLE, VA

June 21, 2018 Dear Sir/Madam: I enclose a copy of the sale ad regarding property for which we will be conducting a foreclosure sale at public auction on Wednesday, June 27, 2018, at 11:00 a.m., at 501 E. Jefferson Street, Charlottesville, Virginia. I will be selling Parcels One and Two (as described in the Deed of Trust and shown on the plat) separately and then together – and I will accept whatever bid(s) brings the best overall price. I do not know what the foreclosure sale price for this property will be since it will be a sale at public auction, but the 2018 Albemarle and Fluvanna County tax assessed value combined is $620,700.00. I believe this will be a great investment and encourage you to attend the auction. Please do not hesitate to call me with any questions about this fantastic investment opportunity. . Very truly yours,

Nancy R. Schlichting NRS:lmg Enclosure

Nancy R. Schlichting Attorney at Law

Direct: (434) 220-6108 [email protected]

Phone: (434) 979-1400 Fax: (434) 977-5109 530 East Main Street P.O. Box 2057 Charlottesville, Virginia 22902

TABLE OF CONTENTS

Sale Ad: Terms of Sale Current Deeds of Trust Annotated Plat Photographs of Property Sample Foreclosure Auction Contract Nancy R. Schlichting Lenhart Pettit 530 East Main Street P.O. Box 2057 Charlottesville, VA 22902 Telephone: (434) 220-6108 Fax: (434) 977-5109 [email protected]

FORECLOSURE SALE OF VALUABLE REAL ESTATE AT PUBLIC AUCTION

Troy, Virginia

Albemarle County Tax Map Nos. 09400-00-00-021A8 & 09400-00-00-21C0 Fluvanna County Tax Map Nos. 2-A-A5 & 8-10-A2

SALE: WEDNESDAY, JUNE 27, 2018 AT 11:00 A.M.

ON THE FRONT STEPS OF THE ALBEMARLE COUNTY CIRCUIT COURTHOUSE 501 EAST JEFFERSON STREET, CHARLOTTESVILLE, VA

In execution of three Deeds of Trust, the first being dated February 25, 2004, of record in

the Clerk’s Office of the Circuit Court of Albemarle County, Virginia (“Albemarle County”), in

Deed Book 2697, page 16 (the “First Deed of Trust”), and the second Deed of Trust dated

January 28, 2005, of record in Albemarle County in Deed Book 2911, page 499 and in the

Clerk’s Office of the Circuit Court of Fluvanna County, Virginia (“Fluvanna County”) in Deed

Book 617, page 9 (the “Second Deed of Trust”), and the third Deed of Trust dated August 7,

2006, of record in Albemarle County in Deed Book 3267, page 673 and in Fluvanna County in

Deed Book 695, page 499, the holder of the Notes secured by said First, Second and Third Deeds

of Trust having substituted the undersigned as Trustee by instrument of record in the aforesaid

Clerks’ Offices, the undersigned Acting Substitute Trustee will offer for sale at public auction:

Parcel One: ALL that certain tract or parcel of land, with improvements thereon and appurtenances thereto, situated partially in Albemarle County, Virginia, and partially in Fluvanna County, Virginia, containing 39.256 acres, more or less, shown on a plat by Residential Surveying Services dated November 1, 2004, and recorded in the Clerk’s Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 617, pages 3-4, and in the Clerk’s Office of the Circuit Court of Albemarle County, in Deed Book 2911, pages 496-497. Parcel Two: ALL that certain tract or parcel of land, with improvements thereon and appurtenances thereunto belonging, located off State Route 623, near Boyd Tavern in Albemarle County, Virginia being more particularly described as Parcel 2 containing 22.433 acres, 12.697 of which are located in Albemarle County and 9.736 of which are located in Fluvanna County, fronting on the private road

providing ingress and egress to State Route 623 as shown on a plat of William S. Roudabush, Inc., C.L.S., dated December 12, 1977, revised May 10, 1978, and recorded in the Clerk’s Office of the Circuit Court of Albemarle County, Virginia, in Deed Book 653, page 50, and in the Clerk’s Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 128, page 650.

(the “Property”) TERMS OF SALE Cash. A bidder’s deposit of the lesser of $25,000 or 10% of the

winning bid, shall be paid at the sale by cash or cashier’s check made payable to Bidder (to be

assigned to Trustee if Bidder is successful), with the balance upon delivery of a trustee’s deed

within 30 days of sale. If the initial deposit is less than 10% of the winning bid, then the

successful bidder’s deposit MUST be increased to 10% of the winning bid by cashier’s check or

wired funds within three (3) business days. Settlement shall be held within 30 days after the date

of sale unless otherwise postponed at the sole discretion of the Trustee. Sale is subject to the

covenants, conditions, restrictions, rights of way, and easements, if any, contained in the deeds

and other documents forming the chain of title to the property. Property is sold “AS IS,

WHERE IS,” “WITH ALL FAULTS” and “WITH ABSOLUTELY NO WARRANTIES.”

TIME SHALL BE OF THE ESSENCE WITH RESPECT TO SETTLEMENT. The deposit

shall be applied to the credit of successful bidder at settlement; or, in the event of failure to complete

settlement within the time set forth after the date of sale, in accordance with the terms of sale, the

deposit shall be forfeited and applied to the costs of sale, including Trustee’s fee, and the Property

shall be resold at the cost and expense of the defaulting Purchaser. Risk of loss or damage to the

Property shall be borne by successful bidder from the time of auctioneer’s strikedown at the sale.

Purchaser shall pay all settlement fees, title examination charges, title insurance premiums, and

recording costs. Current real estate property taxes will be prorated at closing as of date of sale.

Rollback taxes, if any, will be the responsibility of the Purchaser.

THE TRUSTEE RESERVES THE RIGHT: (i) to waive the deposit requirements; (ii) to

extend the period of time within which the Purchaser is to make full settlement; (iii) to withdraw the

Property from sale at any time prior to the termination of the bidding; (iv) to keep the bidding open

for any length of time; (v) to reject all bids; and (vi) to postpone or continue this sale from time to

time, such notices of postponement or setting over shall be in a manner deemed reasonable by the

Trustee. Announcements made on day of sale take precedence over all other advertised terms and

conditions.

FOR INFORMATION SEE: www.lplaw.com/foreclosures

Nancy R. Schlichting, acting for Lenhart Pettit P.C. Substitute Trustee 530 E. Main Street P. O. Box 2057 Charlottesville, VA 22902 (434) 220-6108 (Schlichting) [email protected]

mailto:[email protected]

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Instrument Control Number

Commonwealth of Virginia Land Record Instruments Cover Sheet - Form A

[ILS VLR Cover Sheet Agent 1.0.66]

jT I le I Date of Instrument: : ~ Instrument Type:

[2/26/2004

[DOT

P . Number of Parcels

Number of Pages

City D County W

1]

5]

[Albemarle County J

..

003Lv54

\\ffi\11\illi\ll\llllllm\l\~l\ffl ooo 10: 000663890008 Tvpe : DEE Recorded : 02/26/2004 at 12 :05:53 PM Fee Amt: $209.64 PaRe 1 of 6 Shelbv Mar&hall, Cl erk Ci rcuit Ct shelbV Mar&hall Clerk c1rou1t court File# 2004-00003454

BK2697 pa16-21

(Box for Deed Stamp Only)

E X E M p First and Second Granto_!ll

[ _ _ Last Name First Name Middle Name or Initial I Suffix

• D fOBrlen, ] [Thomas ][

][P ][

First and Second Grantees

][ ][

I Last Name ! First Name I Middle Name or Initial ! Su DD [Treakle TR ] [James ] [E ] I

-ffix

D D [Basham TR ] [Barney ] [W ] )r [

] ]

Grantee Address (Name) [Crescent Mortgage Corporation ] (Address 1) [610 West Rio Road (Address 2) [ (City, State, Zip) [Charlottesville

Consideration [107,100.00 ] Existing Debt [0.00 l [VA J [22901

Assumption Balance [0.00

] ] l ] -------- --- •---• --- --------- ---==5,..,....1.r,~o

Prior Instr. Recorded at: City County [ J Percent. In this Juris. [ ~ Book [ J Paga [ ] Instr. No [ ] Parcel Identification No (PIN) [094000000021 CO J Tax Map Num. (If different than PIN) [094000000021 CO ) Short Property Description [Lot 2 containing 12.697 acres ]

Current Property Address (Address 1) (Address2)

(City, State, Zip)

Instrument Prepared by Recording Paid for by Return Recording to (Name)

Customer Case ID

(Address 1) (Address 2) (City, State, Zip)

Cover Sheet Page# 1 of 1

[ 1 [State Route 623 ] [ ] [Albemarle County ] [VA ] [22974 ]

[James E Treakle Jr [James E Treakle Jr [James E Treakle Jr [700 East High Street [ [Charlottesville [ ] [

] [VA J [22902 ][

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1 )

1 ]

Albemarle County Tax Map:09400.00.00.021CO Fluvanna County Tax Map:B.10.A2 Louisa county Tax Map: 52-34

Prepared by/Return to: James E. Treakle, Jr., Esquire 700 East High Street Charlottesville, Virginia 22902 qJ4.979.9000

003l15t~·

This DEED OF TRUST made this 25 th day of February, 2004, by and

between THOMAS P. O'BRIEN, Grantor, and JAMES E. TREAKLE, JR.,

Trustee, of the City of Charlottesville, Virginia, whose address is

700 East High Street, Charlottesville, Virginia 22902, and BARNEY

W. BASHAM, Trustee, of the County of Albemarle, Virginia, whose

address is 610 West Rio Road, Charlottesville, Virginia 22 901,

Grantees.

WIT NE SETH:

THAT for and in consideration of the provisions of this deed

and five dollars cash in hand paid by said Trustees unto the said

Granter, receipt of which is hereby acknowledged, the Grantor does

hereby GRANT and CONVEY with GENERAL WARRANTY OF TITLE, unto the

said Trustees as Grantees the following described property, to-wit:

PARCEL ONE:

All that certain tract or parcel of land, with improvements thereon and appurtenances thereunto belonging, located off State Route 623 near Boyd Tavern in Albemarle County, Virginia, being more particularly described as Parcel 2 containing 22.433 acres fronting on the private road providing ingress and egress to State Route 623 as shown on a plat of Williams. Roudabush, Inc., Certified Land Surveyor, dated December 12, 1977, revised May 10, 1978, and recorded in the Clerk's Office of the Circuit Court of Albemarle County, Virginia, · in Deed Book 653, page 650. By reference to sa{d plat it will be seen that a portion of the property conveyed

herein lies in Albemarle County, Virginia, and a portion lies in cluvanna County, Virginia;

BEING the same property in all respects conveyed to Thomas P. O'Brien, Grantor herein, by deed of Allen J. Friedman, dated February 16, 2004, and recorded in the Clerk's Office of the Circuit Court of Albemarle County, Virginia, immediately prior hereto, and recorded in the Clerk's Office of the Circuit Court of Fluvanna County, Virginia, immediately prior hereto.

PARCEL TWO:

All that certain parcel of land, lying and being situate in the Green Spring Magisterial District, Louisa County, Virginia, containing one (1) acre more or less, bounded as follows:

Beginning on the northeast side of State Route 607 at a telephone pole, corner with the property of Nora B.

·Fletcher; thence, along the said Fletcher's line in a northeasterly direction 273 feet to an iron pipe, corner with said Fletcher and the land of Glass; thence in a northerly direction along the line of the said Glass land, 230 feet to an iron pipe corner with Glass in said Butler's line; thence, a new line with the land of said Butler, 4 50 feet to an iron pin or pipe corner on tne northeast side of the said highway with the land of the said Butler; thence, along the northeast side of said highway, in a southeasterly direction a distance of 120 feet to the Beginning, as shown on a plat recorded November 20, 1961, in the Clerk's Office of the Circuit Court of Louisa County, Virginia, in Deed Book 112, Page 253.

BEING the same property in all respects conveyed to Thomas P. O'Brien, Granter herein, by deed of James R. Gibson and Patricia Ann Gibson, husband and wife, dated November 5, 1998, and recorded in the Clerk's Office of the Circuit Court of Louisa County, Virginia, in Deed Book 580, Page 65.

With respect to the property located in Louisa County, Virginia, this lien of this Deed of Trust shall be considered as additional collaterar and not as deferred purchase money.

IN TROST to secure a debt of THOMAS P. O'BRIEN in the

principal amount of ONE HUNDRED-SEVEN THOUSAND ONE HUNDRED AND

NO/100 DOLLARS ($107,100.00) as evidenced by one Promissory Note of

even date with this Deed of Trust, payable to Crescent Mortgage

Corporation, a Virginia corporation, payable in monthly

installments of ONE THOUSAND SEVENTY ONE AND 00/100 DOLLARS,

($1,071.00) bearing interest at the rate of 12. 0% per annum,

commencing on the 25 th day of March, 2004, with the principal and

accrued interest, if not sooner paid, due on the 25 th day of

February, 2006 . The Promissory Note contains provisions relating

to tne deferral of interest payments, the payment of late charges

and the payment of attorney fees.

This Deed of Trust is executed subject to the provisions of

Title 55, Sections 58 through 60, inclusive, of the Code of

Virginia of 1950, and in accordance with the said act the following

provisions are incorporated herein by reference, namely:

(1) Exemptions waived.

(2) Subject to call upon default.

(3) Renewal or extension permitted.

(4) Right of anticipation in whole or in part, at any time

and without penalty, is reserved.

(5) Advertising required: Advertisement of the time, place,

and terms of sale once a week for two (2) consecutive weeks in a

newspaper published or having a general circulation in the

City/County in which the property is located.

(6) Substitution of Trustee permitted.

(7) Any Trustee may act.

( 8) Fi re and extended coverage insurance required in an

amount equal to its full insurable value.

(9) Deferred Purchase Money.

Trustees' commission upon a default shall be a 2 ½%of the

unpaid obligation or $200.00, whichever is greater, if the Trustee

is requested to foreclose but the property is not advertised for

sale; 5% of the unpaid obligation or $500.00, whichever is greater,

if the Trustee is requested to foreclose and the property is

advertised but not sold by the Trustee; and 5% of the gross

proceeds of sale if the Trustee is requested to foreclose and the

property has been advertised and sold. A bidder's deposit of up to

10% of the sale price may be required.

NOTICE: THE DEBT SECURED HEREBY IS SUBJECT TO CALL IN FULL OR

THE TERMS THEREOF BEING MODIFIED IN THE EVENT OF SALE OR CONVEYANCE

OF THE PROPERTY CONVEYED.

WITNESS the following signature and seal:

~ ?£ (S EAL) THOJ\SP.O'BRIEN

---- -----------

,o

STATE OF VIRGINIA CITY/eOUNTY OF: ~u,lillsV1 l,{,L , to-wit:

The foregoing instrument was acknowledged before me this day of February, 2004, by THOMAS P. O'BRIEN.

My c~mmission expires:

RECORDED IN CLERKS OFFrCE OF ALBEMARLE ON

February 28,2004 AT t 2:05:53 PM $0.00 GRANTOR TAX PD

AS REQUIRED SY VA CODE f 68.1-802 STATE: $0.00 LOCAL: $0.00

SHELBY MARSHALL, CLERK CIRCUIT CT

==='ArltcQ • To '2.½ - .DC

~ ~. ~ Notary Public

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Date of Instrument:

Instrument Type:

Number of Parcels

Number of Pages

[01/28/2005 ]

[DOT ]

1]

4]

001506

1~m~1~m~!~m1m11~1~,1~1~m~1m1 Doc ID : 000936320006 Tvpe : DEE Recorded : 01/31/2005 at 10 :22 :38 AM f e e Amt: $526 .70 PaQe i of 5 Albemar le Cou~tv, VA Shelbv Mar shal l cler k circuit court File# 2005-00001506

BK2911 pa499-503

City D County GJ [Albemarle County ] (Box for Deed Stamp Only)

[ Last Name First and Second_Grantors

First Name Middle Name or lnHial I Suffix I DD !OBrlen ] [Thomas ] [P l [ l

][ ][ ][ 1 First and Second Grantees

! Last Name I First Name I Middle Name or Initial I Suffix I D O [Basham TR ] [Barney ] [W J [ ] D D [Treakle TR ] [James ] [E ] [Jr J

Grantee Address (Name) [The Crescent Mortgage Corporation l ) (Address 1) [610 West Rio Road

(Address 2) [ (City, State, Zip) (Charlottesville

Consideration [153,000.00 ] Existing Debt [0.00

Prior Instr. Recorded at: City D County·@ [Albemarle County Book [ ] Page [ ] Parcel Identification No (PIN) [A Portion of 94-21 A Tax Map Num. (If different than PIN) [2A-A5

] [VA] [22901 Assumption Balance [0.00

Percent. In this Juris. Instr. No [

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[ -8-'r.51 ] ) l J ]

Short Property Description (39.256 acres less 7 acres being in Fluvanna County Virginia

Current Property Address (Address 1) (Address 2)

(City, State, Zip)

Instrument Prepared by Recording Paid for by Return Recording to (Name)

Customer Case ID


Cover Sheet Page # 1 of 1 .

[ [4267 Woods Edge Road [ [Troy

[James E Treakle Jr [James E Treakle Jr [James E Treakle Jr [700 East High Street [ [Charlottesville r l [

] [VA J [22974

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A Portion of Albemarle Cowity Tax Map:94-21A Fluvanna County Tax Map,2A-AS Prepared by/Return to,

Jamee B. Treakle, Jr., Esquire 700 East High Street Charlottesville, Virginia 22902 434.979.9000

001506

This DEED OF TRUST made this 28 th day of January, 2005, by and

between THOMAS P. O'BRIEN, Grantor, and JAMES E. TREAKLE, JR. I




address is 610 West Rio Road, Charlottesville, Virginia 22901,

Grantees.

WIT NE SETH:



Grantor, receipt of which is hereby acknowledged, the Grantor does



All that certain tract or parcel of land situated in the Ri vanna Magisterial District, Albemarle County, Virginia, a small portion extending into Fluvanna County, Virginia, located at the end of State Route 623, containing 39.256 acres, more or less, as shown on plat of survey made by Robert W. Coleman, Jr., C.L.S., dated November 1, 2004, attached hereto and incorporated herein by reference;

Being a portion of the same property conveyed to Allen J. Friedman by deed from Steven M. Friedman, dated November 16, 2001, recorded November 19, 2001 in the Clerk's Office of the Circuit Court of Albemarle County, Virginia, in Deed Book 2111, page 87; and, in the Clerk's Office of the Circuit Court of Fluvanna County, Virginia,

-· ;;_,,:.

in Deed Book 443, page 346.

IN TRUST to secure a debt of THOMAS P. O'BRIEN in the

principal amount of ONE HUNDRED FIFTY-THREE THOUSAND AND NO/100

DOLLARS ($153,000.00) as evidenced by one Promissory Note of even

date with this Deed of Trust, payable to Crescent Mortgage


installments of ONE THOUSAND FIVE HUNDRED THIRTY AND 00/100

DOLLARS, ($1,530.00) bearing interest at the rate of 12.0% per

annum, commencing on the 28 th day of February, 2005, with the

principal and accrued interest, if not sooner paid, due on the 28 th

day of January, 2008. The Promissory Note contains provisions

relating to the payment of late charges and attorney fees. This

Deed of Trust is executed subject to the provisions of Title 55,

Sections 58 through 60, inclusive, of the Code of Virginia of 1950,

and in accordance with the said act the following provisions are

incorporated herein by reference, namely:





and without penalty, is reserved .





(6) Substitution of Trustee permitted.


(8) Fire and extended coverage insurance required in an


Trustees' commission upon a default shall be a 2 ½%of the






proceeds of sale if the Trustee is requested to foreclose and the.







~7~--- (SEAL) OMAS P. O'BRIEN

.,_;

STATE OF VIRGINIA

CITY/COUN'I'Y OF: CA.o..r: f.otJ..k...Gvi ~ , to-wit:

The foregoing instrument was acknowledged before me this d~q_ day of January, 2005, by THOMAS P. O'BRIEN.

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~ I lg I Date of Instrument: Ix R Instrument Type:

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Grantee Address (Name) [B~rney W. Basham (AddreH 1) [610 West Rio Road (AddreH 2) [

(City, State, Zip) [Charlottesville Consideration [100,000.00 ] Existing Debt (0.00

Prior Instr. Recorded at: City D County G] [Albemarle County Book (2697 ] Page [13 ] Parcel Identification No (PIN) [09400.00.00.021 C Tax Map Num. (If different than PIN) [09400.00.00.021 C Short Prop&rty Description (22.433 ac

) ( Current Property Address (Address 1) [Woods Edge Road

(Address 2) ( (City, Stat&, Zip) (

Instrument Prepared by Recording Paid f~r by Return Recording to (Name)


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Current Property Address (AddreH 1) [Woods Edge Road (Addre88 2) [

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Prior Instr. Recorded at: City D County D [ Book ( ) Page [ Parcel Identification No (PIN) ( Tax Map Num. (If different than PIN) ( Short Property Description [

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Albemarle County Tax Map/Parcel No . : 09400.00 . 00.021CO Albemarle Count y Tax Map/Parcel No . :09400 . 00 . 00 . 021AO Fluvanna County Tax Map/Parcel No.:8.10.A2 Fluvanna County Tax Map/Parcel No.:2.A.AS Prepared by/Retur n to,

James E. Treakle, Jr., Esquire 700 East High Street Charlottesville, Virginia 22902 434.979.9000

This DEED OF TRUST made this 7th day of August, 2006, by and

between THOMAS P. O'BRIEN, Grant9r, and JAMES E. TREAKLE, JR.,




address is 610 West Rio Road, Charlottesville, Virginia 22901,

Grantees.

WIT NE SETH:



• Granter, receipt of which is hereby acknowledged, the Granter does



PARCEL ONE:

All that certain tract or parcel of land situated partly in the County of Albemarle and partly in the County of Fluvanna, Virginia, containing 22 .433 acres, more or less, shown as Parcel 2 on a plat by William s. Roudabush, Inc., dated December 12, 1977, last revised May 16, 1978, and recorded in the Clerk's Office of the Circuit Court of Albemarle County, Virginia, in Deed Book 653, page 650, and in the Clerk's Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 128, page 650;

•~i

BEING the same property in all respects conveyed to Thomas P. O'Brien, Granter herein, by deed of Allen J. Friedman, dated February 16, 2004, and recorded in the Clerk's Office of the Circuit Court of Albemarle County, Virginia, in Deed Book 2697, page 13, and recorded in the Clerk's Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 567, page 353.

PARCEL TWO:

All that certain tract or parcel of land situated in the Ri vanna Magisterial District, Albemarle County, Virginia, a small portion extending into Fluvanna County, Virginia, located at the end of State Route 623, containing 39.256 acres, more or less, as shown on plat of survey made by Robert w. Coleman, Jr., C.L.S., dated November 1, 2004, attached hereto and incorporated herein by reference;

BEING the same property in all respects conveyed to Thomas P. O'Brien, Granter herein, by deed of Allen J. Friedman, dated January 31, 2005, and recorded in the Clerk's Office of the Circuit Court of Albemarle County, Virginia, in Deed Book 2911, page 493, and recorded in the Clerk's Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 617, page 1.

IN TRUST to secure a debt of THOMAS P. 0' BRIEN in the

principal sum of ONE HUNDRED TWO THOUSAND AND NO/00 DOLLARS

($102,000.00) with interest thereon at the rate of twelve (12)

percentum per annum, as evidenced by one Promissory Note of even

date with this Deed of Trust, payable to Crescent Mortgage


installments in the sum of ONE THOUSAND TWENTY and 00/100 DOLLARS

($1,020.00), to be applied first to interest and then to principal,

commencing on the 7th day of November, 2006, and continuing on the

7 th day of each month thereafter, with all principal and unpaid

accrued interest, if not sooner paid, due on August 7, 2008.

.,

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Payments are to be made at 610 West Rio Road, Charlottesville,

Virginia 22901, or such other ~ddress as the holder may designate.

The Promissory Note contains provisions relating to the payment of

late charges and attorney fees. This Deed of Trust is executed

subject to the provisions of Title 55, Sections 58 through 60,

inclusive, of the Code of Virginia of 1950, and in accordance with

the said act the following provisions are incorporated herein by

reference, namely:





and without penalty, is reserved.





( 6) Substitution of Trustee permitted.


(8) Fire and extended coverage insurance required in an


Trustees' commission upon a default shall be a 2½ % of the



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proceeds of sale if the Trustee is requested to foreclose and the







lt.tYi~~---.. (SEAL) Tho~ O'Brien

STATE OF VIRGINIA

CITY~OF, ClAf W!k.,~ UL , to-wit:

9~ The foregoing instrument was acknowledged before me this day of August, 2006, by Thomas P. O'Brien.

~~- lJluu__ - .,., Notary Public"

My commission expires: ~t-,. ?JJ 1 ~

RECORDED IN CLERKS OFFICE OF ALBEMARLE ON

August 09,2006 AT 1 :03:02 PM $0.00 GRANTOR TAX PO

AS REQUIRED BY VA CODE§ 58.1-802 STATE: $0.00 LOCAL: $0.00 ALBEMARLE COUNTY. VA

SH~::SH~COURT

..d-/(. --- -DC

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CONTRACT FOR PURCHASE OF PROPERTY AT FORECLOSURE SALE

Albemarle County Tax Map Nos. 09400-00-00-021A8 and 09400-00-00-21C0 Fluvanna County Tax Map Nos. 2-A-A5 and 8-10-A2

THIS CONTRACT OF PURCHASE (the “Contract”) made and entered this 27th day of

June, 2018, by and between ______________________, (“Purchaser(s)”), and NANCY R.

SCHLICHTING, acting for Lenhart Pettit, PC Substitute Trustee (“Seller” and sometimes

referred to as “Trustee”) to convey the following parcels in Albemarle and Fluvanna Counties,

Virginia:

Parcel One: ALL that certain tract or parcel of land, with improvements thereon and appurtenances thereto, situated partially in Albemarle County, Virginia, and partially in Fluvanna County, Virginia, containing 39.256 acres, more or less, shown on a plat by Residential Surveying Services dated November 1, 2004, and recorded in the Clerk’s Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 617, pages 3-4, and in the Clerk’s Office of the Circuit Court of Albemarle County, in Deed Book 2911, pages 496-497. Parcel Two: ALL that certain tract or parcel of land, with improvements thereon and appurtenances thereunto belonging, located off State Route 623, near Boyd Tavern in Albemarle County, Virginia being more particularly described as Parcel 2 containing 22.433 acres, 12.697 of which are located in Albemarle County and 9.736 of which are located in Fluvanna County, fronting on the private road providing ingress and egress to State Route 623 as shown on a plat of William S. Roudabush, Inc., C.L.S., dated December 12, 1977, revised May 10, 1978, and recorded in the Clerk’s Office of the Circuit Court of Albemarle County, Virginia, in Deed Book 653, page 50, and in the Clerk’s Office of the Circuit Court of Fluvanna County, Virginia, in Deed Book 128, page 650.

(the “Property”).

WHEREAS, Purchaser was last and highest bidder at the public auction held on June 27,

2018 (the “Sale Date”) with a bid of $______________ (“Purchase Price”) for the purchase of

the real estate known as:

□ TMP NOS. 09400-00-00-021A8 AND 2-A-A5 – PARCEL ONE

□ TMP NOS. 09400-00-00-21C0 AND 8-10-A2 – PARCEL TWO

(“Property”); and

WHEREAS, Purchaser did pay to Seller as deposit the sum of $________, the receipt of

which is hereby acknowledged by the Seller; and

WHEREAS, in connection with this sale, Purchaser acknowledges and agrees to the

terms and conditions as stated in the advertised foreclosure.

NOW, THEREFORE, in consideration of the premises, the parties do hereby agree as

follows:

1. That within three (3) business days from the date of this Contract, Purchaser shall

pay to Seller the sum of $_____________, representing the balance due of the deposit required

(10% of the Purchase Price).

2. That Purchaser shall pay to Trustee, the balance of the Purchase Price, by wire

transfer or certified or cashier’s check, at settlement.

3. At settlement, Trustee shall deliver to Purchaser a deed with Special Warranty of

Title conveying the Property to Purchaser. The conveyance of the Property is subject to the

covenants, conditions, easements, restrictions and reservations, if any, superior to the lien of the

Deed of Trust, duly of record and constituting constructive notice.

4. Grantor’s tax and pro-rated real estate taxes up to the Sale Date shall be paid by

Trustee. All other costs and expenses shall be paid by Purchaser. Each party shall pay its own

attorney’s fees. Rollback taxes, if any, shall be the responsibility of Purchaser.

5. Settlement shall occur on or before 2:00 p.m. on July 27, 2018 (the “Settlement

Date”), unless otherwise extended at the sole discretion of the Trustee. Possession of the

Property shall be turned over at settlement.

6. If the Trustee is unable to convey title to the subject Property for any reason, the

sole remedy of Purchaser is the return of the deposit with accrued interest. If the Trustee

believes any challenge to the validity of the sale has merit, the Trustee may declare in her sole

discretion the sale void and return the deposit, and Purchaser shall have no further remedy.

7. Purchaser agrees this Contract is not contingent upon Purchaser obtaining

financing from any third party and shall be treated as a cash sale. Purchaser further agrees this

Contract is not contingent upon an appraisal of the Property being equal to or greater than the

Purchase Price.

8. The deposit shall be applied to the credit of Purchaser at settlement; or, in the

event of Purchaser’s failure to complete settlement on the Settlement Date, including any

postponement by Trustee, and in accordance with the terms of sale, the deposit shall be forfeited

and applied to the costs and expenses of sale, including the auction expenses and Trustee’s fee

and then to the balance due under the applicable note. Thereafter Trustee may resell the Property

at the cost and expense of the defaulting Purchaser, or Trustee may accept the next highest

available bid from the auction sale, or Trustee may sell the Property to the lender at the bid of the

defaulting Purchaser. Purchaser shall be liable for any deficiency resulting from the resale of the

Property as well as for all costs, expenses, and reasonable attorneys’ fees connected to and

arising out of Purchaser’s failure to fulfill its obligations under this Contract, including but not

limited to the process of any resale or the Trustee’s acceptance of the next highest available bid.

9. The Property is sold “AS IS” with all faults and without reliance on any warranty

of any kind whatsoever and Purchaser hereby accepts the Property in the condition as of the Sale

Date. Risk of loss or damage to the Property shall be borne by Purchaser from Sale Date.

10. Choice of Settlement Agent: Virginia’s Consumer Real Estate Settlement

Protection Act provides that the Purchaser or borrower has the right to select the

settlement agent to handle the closing of this transaction. The settlement agent’s role in

closing this transaction involves the coordination of numerous administrative and clerical

functions relating to the collection of documents and the collection and disbursement of

funds required to carry out the terms of the Contract between the parties. If part of the

Purchase Price is financed, the lender for the Purchaser will instruct the settlement agent

as to the signing and recording of loan documents and the disbursement of loan proceeds.

No settlement agent can provide legal advice to any party to the transaction except a

settlement agent who is engaged in the private practice of law in Virginia and who has been

retained or engaged by a party to the transaction for the purpose of providing legal

services to the party.

11. Variation by Agreement: The provisions of the Consumer Real Estate

Settlement Protection Act may not be varied by agreement, and rights conferred by this

chapter may not be waived. Trustee may not require the use of a particular settlement

agent as a condition of the sale of the Property.

12. Escrow, Closing and Settlement Service Guidelines: The Virginia State Bar

issues guidelines to help settlement agents avoid and prevent the unauthorized practice of

law in connection with furnishing escrow, closing or settlement services. As a party to a

real estate transaction, the Purchaser is entitled to receive a copy of these guidelines from

his settlement agent, upon request, in accordance with the provisions of the Consumer Real

Estate Settlement Protection Act.

13. Ratification by Trustee: This Contract shall not be valid or enforceable unless

and until Trustee has executed and ratified this Contract.

14. This Contract may be executed in counterparts, each of which shall constitute an

original and all of which when taken together shall constitute one and the same document. This

Contract may also be executed by facsimile and/or scanned signature which shall be deemed

originals for all purposes.

WITNESS the following signatures and seals.

I, Nancy R. Schlichting, Auctioneer, do hereby certify that the above-listed price was the highest bid received at the auction of the aforesaid Property. Dated this 27th day of June, 2018. _____________________________ Nancy R. Schlichting – Auctioneer ___________________________________ Seller: Nancy R. Schlichting, acting for

Lenhart Pettit PC Substitute Trustee

___________________________________ Purchaser’s Signature ___________________________________ Purchaser’s Printed Name ___________________________________ Address ___________________________________ City / State / Zip _________________/_________________ Email Telephone ___________________________________ Co-Purchaser’s Signature ___________________________________ Purchaser’s Printed Name ___________________________________ Address ___________________________________ City / State / Zip _________________/_________________ Email Telephone Purchaser’s Settlement Agent (if known):

___________________________________ Name ___________________________________ Address ___________________________________ City / State / Zip _________________/_________________ Email Telephone

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