From the Daily Progress:
Update 5 June 2012: Lisa Provence at the HooK has more information.
FORECLOSURE SALE OF VALUABLE REAL ESTATE AT PUBLIC AUCTION: EXCELLENT INVESTMENT OPPORTUNITY – RIPE FOR DEVELOPMENT IN THE HEART OF CROZET, 18.728 ACRES, MORE OR LESS [formerly operated as J. B. BARNES, INC, a lumber company] AND SECURED PARTY’S SALE OF ALL LUMBER, MACHINERY AND EQUIPMENT WEDNESDAY, JUNE 27, 2012 EQUIPMENT AUCTION STARTS AT 10:00 A.M. SALE OF ACREAGE AT 12:00 NOON AT THE PREMISES: 5755 THE SQUARE, CROZET, VA PROPERTY OPEN FOR INSPECTION ON SALE DATE AT 9:00 A.M. ADD’L PROPERTY INSPECTIONS: FRIDAYS, JUNE 15 AND 22, 3 – 6 PM Albemarle County TM Nos. 056A2-01-00-071B0 AND -07100 In execution of a Credit Line Deed of Trust dated July 1, 2002, of record in the Clerk’s Office of the Circuit Court of Albemarle County, Virginia, in Deed Book 2223, pages 325-333, securing the sum of One Million Nine Hundred Thousand Dollars ($1,900,000.00), (the “Deed of Trust”), and the holder of the Note secured by said Deed of Trust having substituted the undersigned as Trustees by instrument of record in the aforesaid Clerk’s Office, the undersigned Acting Substitute Trustees will offer for sale at public auction: ALL those two certain tracts or parcels of land, together with the improvements thereon, and all rights, privileges, appurtenances, easements and rights of way thereunto belonging or in anywise appertaining, situate in the Town of Crozet, Albemarle County, Virginia, and being more particularly described as follows: Parcel One 14.743 acres, more or less, as shown on a plat entitled “Composite Map Combining T.M. 56-58 and T.M. 56A(2)-((1))-71B Into One Parcel, The Property of J. Bruce Barnes, Incorporated, Located Off State Route 240, South of C & O Railway, At Crozet, White Hall District, Albemarle County, Virginia,” prepared by Roger W. Ray & Assoc., Inc., dated May 22, 2000, of record in the Clerk’s Office of the Circuit Court of Albemarle County, Virginia, in Deed Book 1925, page 372. BEING the identical property acquired by deed dated November 7, 1994, of record in the aforesaid Clerk’s Office in Deed Book 1440, page 563; and also a portion of the property acquired by deed dated December 29, 1986, of record in the aforesaid Clerk’s Office in Deed Book 916, page 99. Parcel Three 4.01 acres, more or less, as shown on a plat entitled “Plat Showing Survey of Property to be Acquired by S.W. Barnes, Inc., known as Parcels 71 and 71B of Tax Map 56A2, Located in Crozet, Albemarle County, Virginia,” prepared by William S. Roudabush, Inc. dated June 13, 1984, revised June 28, 1984, of record in the aforesaid Clerk’s Office in Deed Book 806, page 252, LESS AND EXCEPT, HOWEVER, that certain parcel containing 0.027 acre dedicated to public use by Deed of Dedication dated April 22, 2010, of record in the aforesaid Clerk’s Office in Deed Book 3886, pages 575 – 590. BEING a portion of the property acquired by deed dated December 29, 1986, of record in the aforesaid Clerk’s Office in Deed Book 916, page 99. Albemarle County TM Nos. 056A2-01-00-071B0 and 056A2-01-00-07100 The lumber, machinery and equipment will be offered for sale at the premises beginning at 10:00 a.m. The real estate will be offered for sale at the premises at 12:00 noon. TERMS OF SALE: Cash. BIDDER’S DEPOSIT REQUIRED: THE LESSER OF $50,000.00 OR 10% OF BIDDER’S ACTUAL BID, by cashier’s or certified check made payable to Bidder (to be assigned to Trustee if Bidder successful) ON DAY OF AND AT TIME OF SALE, with balance upon delivery of deed within 30 days of sale. The Trustee reserves the right to verify that each bidder is capable of making the bidder’s deposit. Settlement shall be held within 30 days after the date of sale unless otherwise postponed at the sole discretion of the Trustees. The sale is subject to the covenants, conditions, restrictions, rights of way, and easements, if any, contained in the deeds forming the chain of title to the property. The 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 to date of sale. For a complete listing of lumber, machinery and equipment to be sold, log onto Heatwole Auction Team’s (click to respond). The personal property will be sold for cash or good check on day of sale. Announcements made on day of sale take precedence over all other advertised terms and conditions. FOR INFORMATION, PICTURES, PLATS, SEE: www.lolawfirm.com (click on “Foreclosures”) OR CONTACT: Suzanne F. Thomas OR George R. “Dick” Heatwole, Auctioneer Nancy R. Schlichting VA. A.R. #113 Acting Substitute Trustees 169 Pleasant Hill Road Lenhart Obenshain P.C. Harrisonburg, VA 22801 90 North Main Street, Suite 201 (540) 433-2929 Harrisonburg, VA 22802 (540)434-5486 FAX (540) 437-3120 (Thomas) www.hatauctions.com (540) 437-3101 (FAX) (click to respond)