16 SP 2484 Notice of Sale of Real Estate by Substitute Trustee State of North Carolina Wake County in the General Court of Justice Superior Court Division Before The Clerk in the matter of the foreclosure of the Deed of Trust of Toni N. Peay to Thurman E. Burnette, Trustee For United States Department Agriculture, Dated September 28, 2000 And Recorded At Book 8694, Page 2501, Wake County Registry See Substitution of Trustee as recorded in Book 16504, Page 492, appointing Richard J. Kania as Substitute Trustee TO: Toni N. Peay Occupant Under and by virtue of the power and authority contained in that certain deed of trust executed and delivered by the above-named Grantors to United States Department Agriculture, dated September 28, 2000, securing indebtedness in the original principal amount of $106,500.00 as recorded in Deed of Trust Book 8694 at Page 2501, Wake County Registry (hereinafter, the ''Deed of Trust''), and because of the default of Debtor in the payment of the indebtedness thereby secured and the failure of Debtor to carry out or perform the stipulations and agreements therein contained and pursuant to the demand of the owner and holder of the indebtedness secured by the Deed of Trust, and pursuant to the Order of the Clerk of Superior Court for Wake County, North Carolina, entered in this foreclosure proceeding, the undersigned, Richard J. Kania, Substitute Trustee, will expose for sale at public auction on November 18, 2016 at 2:00 PM at the Wake County Courthouse at the usual place of sale designated by the Wake County Clerk, Raleigh, the real property in Marks Creek Township, Wake County, North Carolina (including any improvements thereon) with the address of 5417 Trenburg Court, Knightdale, NC 27545, and as described as follows: BEING all of Lot 16, Phase 1, Baywood Forest Subdivision, as depicted in Book of Maps 1992, page 388, Wake County Registry. The Substitute Trustee may, in his sole discretion, delay the sale for up to one hour as provided by N.C.G.S. §45-21.23. The sale will be made subject to all prior liens, unpaid taxes, restrictions and easements of record and assessments, if any. The record owner of the above-described real property as reflected on the records of the County Register of Deeds not more than ten (10) days prior to the posting of this Notice is: Toni N. Peay An order for possession of the property may be issued pursuant to N.C.G.S. §45-21.29 in favor of the purchaser and against the party or parties in possession by the County Clerk of Superior Court. Pursuant to N.C.G.S. §45-21.10(b), and the terms of the Deed of Trust, any successful bidder may be required to deposit with the Trustee immediately upon conclusion of the sale a cash deposit of the greater of five per cent (5%) of the amount bid or Seven Hundred Fifty Dollars ($750.00). Any successful bidder shall be required to tender the full balance purchase price so bid in cash or certified check at the time the Trustee tenders to him a deed for the property or attempts to tender such deed, and should said successful bidder fail to pay the full balance purchase price so bid at the time, he shall remain liable on his bid as provided for in N.C.G.S. §45-21.30(d) and (e). Should the property be purchased by a third party, that person must pay the tax of Forty-Five Cents ($0.45) per One Hundred Dollars ($100.00) required by N.C.G.S. §7A-308(a)(1). This sale will be held open ten (10) days for upset bids as required by law. If the Substitute Trustee is unable to convey title to this property for any reason, the sole remedy of the purchaser is the return of the deposit. Reasons of such inability to convey include, but are not limited to, the filing of a bankruptcy petition by an owner or debtor prior to the confirmation of the sale and reinstatement of the loan without the knowledge of the Substitute Trustee. If the validity of the sale is challenged by any party, the Substitute Trustee, in his sole discretion, if he believes the challenge to have merit, may request the Court to declare the sale to be void and return the deposit. The purchaser will have no further remedy. Any person who occupies the property pursuant to a bona fide lease or tenacy may have additional rights pursuant to Title VII of 5.896, ''Protecting Tenants at Foreclosure Act'' which became effective on May 20, 2009. Additional Notice Where the Real Property Is Residential with less than 15 Rental Units: 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. The notice shall also state that 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.
This the 4th day of October, 2016.
Richard J. Kania
600-A Centrepark Drive
Asheville, North Carolina 28805
The Wake Forest Weekly
November 3, 10, 2016
- State News Today