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Home My WebLink About20070924 Ver 1_Foreclosure Paperwork_20100608 • ?v?Oress iM?wm7di FOR REGISTRATION REGISTER OF OEEOS NEWNFNI OEVRER COUN7YISNAPI C 1040 JUN 08 11 38 36 84( 5490 PC 1563-1567 FEE $18 0o NC REV STAMP $6, 760 00 INSW # X101647 SUBSTITUTE TRUSTEE'S DEED DRAWN BY AND MAIL TO: Tax Parcel No Grantee Excise Tax: McGUIREWoous LLP 300 N. Third Street, Suite 400 P.O. Box 599 (28402) Wilmington, NC 28401 R07900-003-055-000 First Troy SPE, LLC _$6t760.00 THIS DEED, made this the _?leof June, 2010, by and between H Kenneth Stephens 11, an individual with an address of 701 Princess Street, Wilmington, NC 28401, Substitute Trustee in the Deed of Trust hereinafter mentioned (hereinafter referred to as "Grantor"), and First Troy SPE, LLC, a North Carolina limited liability company having an address of 341 North Main Street, Troy, North Carolina 27371 (hereinafter referred to as "Grantee"), WITNESSETH: WHEREAS, on June 27, 2006, Cypress Grove Land, LLC, as grantor, delivered unto Frederick Willetts, III, as Trustee, a Deed of Trust which was duly recorded in the Office of the Register of Deeds for New Hanover County, North Carolina on June 27, 2006 in Book 5043 at Page 787 (the "Deed of Trust") to which reference is hereby made, and (?t rOVE 0?;Z I/ W f-f C WHEREAS, Cooperative Bank was closed by the North Carolina Commissioner of Banks and the Federal Deposit Insurance Corporation (the "FDIC") was appointed receiver of Cooperative Bank on June 19, 2009, and WHEREAS, the FDIC, as receiver for Cooperative Bank, has assigned Cooperative Bank's rights and interests under the Deed of Trust and the indebtedness secured thereby to First Bank pursuant to the terms of a Purchase and Assumption Agreement dated June 19, 2009 between the FDIC, as receiver for Cooperative Bank, and First Bank, as evidenced by that certain Short Form Memorandum of Purchase and Assumption Agreement recorded in Book 5422 at Page 1021 in the New Hanover County Registry, and WHEREAS, default having occurred in the payment of the indebtedness secured by said Deed of Trust, and Grantor having been substituted as Trustee, as set forth in the Substitution of Trustee recorded in Book 5440 at Page 2534, in the New Hanover County Public Registry, due demand was made on the Grantor by the owner and holder of the indebtedness secured by said Deed of Trust that he foreclose the said Deed of Trust and sell the property under the terms thereof, and WHEREAS, under and by virtue of the power and authority in him vested by said Deed of Trust and according to the terms and the stipulations of the same, and having instituted a special proceeding before the Clerk of Superior Court of New Hanover County with case number "10 SP 0095", and after due advertisement as in said Deed of Trust provided and as by law required, and due and timely notice having been given to the parties to said special proceeding, and whereupon the Clerk of Supenor Court of New Hanover County, North Carolina, by Findings of Fact, Conclusions of Law and Order Allowing Foreclosure Sale filed April 5, 2010, authonzed Grantor to proceed under said Deed of Trust and sell the property as hereinbelow described, and Grantor, at 11 00 a m on May 6, 2010, did expose the property described in said Deed of Trust, and hereinafter described and conveyed, subject to prior liens, unpaid taxes, restnctions, easements of records and assessments, for sale at public auction at the New Hanover County Courthouse in Wilmington, North Carolina, when and where First Bank became the last and highest bidder for the said property at the price of $3,380,000 00, and WHEREAS, Grantor duly reported the property sale to the Clerk of Superior Court of New Hanover County as by law required, and thereafter said sate remained open ten days and no upset bid was placed thereon in the time allowed by law, and WHEREAS, First Bank has assigned its bid to Grantee by virtue of an Assignment of Debt, Deed of Trust and Bid filed in the above referenced special proceeding action, and WHEREAS, said purchase price has now been fully paid by credit bid, NOW, THEREFORE, in consideration of the premises and the payment of said purchase pnce by credit bid by Grantee, and pursuant to the authority vested in him by the terms of the said Deed of Trust, Grantor does hereby bargain, sell, grant and convey unto Grantee and its successors and assigns, all that certain lot, parcel or tract of land (including any improvements thereon) lying and being in the County of New Hanover, State of North Carolina, and being more particularly described on EXHIBIT "A" attached hereto and made a part hereof, Pursuant to N C G S. Section 105-317 2, the Grantor states that the real property conveyed herein does not include his primary residence, 11 1 537 474 1 TO HAVE AND TO HOLD the said land and other property, together with all privileges and appurtenances as thereunto belonging unto the said Grantee, its successors and assigns, forever, in as full and ample manner as Grantor, Substitute Trustee, is authorized and empowered to convey the same IN WITNESS WHEREOF, Grantor, Substitute Trustee of the aforesaid Deed of Trust, has hereunto set his hand and affixed his seal the day and year first above written. i (SEAL) Ke tephens II, ubstitute Trustee STATE OF NORTH CAROLINA COUNTY OF J!r"rj5j ,KCk` 1, Arni w Uj, Ht? I I i a Notary Public for the State and County aforesaid, do hereby certify that I Kenneth Stephens II, Substitute Trustee, either (i) being personally known to me or (u) proven by satisfactory evidence (said evidence being _ wk l QC) personally appeared before me this day and acknowledged the voluntary due execution of the foregoing instrument by him/her for the purposes stated therein WITNESS my hand and notarial seal, this 41 day of June, 2010 Notary Public G LO Print or Type Name- tQ-% -? My Commission Expires I ()-s -;1()k a F-a e •: 3- r /11537474 1 EXHIBIT "A" Legal Description All of Tract "BC", as shown upon that map recorded in the New Hanover County Registry in Map Book 33 at Page 227, said map being entitled "Boundary Survey for Marvin H Congleton and wife, Carolyn" NOTE A portion of the above tract, which portion is shown upon that map recorded in said Registry in Map Book 32 at Page 358, has been used as a demolition landfill, pursuant to a permit recorded in said Registry in Book 1605 at Page 1644 SAVING AND EXCEPTING THE FOLLOWING PORTION OF SAID PROPERTY, WHICH HAS BEEN QUITCLAIMED OVER TO MARVIN H. CONGLETON AND WIFE, CAROLYN R. CONGLETON. A boundary line between two parcels of land known as Tract "A" as shown on the map recorded in the New Hanover County Register of Deeds Office in Map Book 24 at Page 127 on the east and Tract "BC" as shown on the mad recorded in the New Hanover County Register of Deeds Office in Map Book 33 at Page 227 on the west, said parcels located in Federal Point Township, New Hanover County, North Carolina, said boundary line being more particularly described as follows Beginning at a No. 5 rebar set on the northerly property line of Tract "BC" located north 60° 15' 50" west a distance of 25 30 feet from the northeast corner of said Tract "BC", said rebar also being located north 52'02'45"-west a distance of 1438 24 feet from a concrete monument located at the centerline of Lieutenant Congleton Road at its westerly terminus as shown on the map entitled "Big Cypress Farms - Section 1" and recorded in the New Hanover County Register of Deeds Office to Map Book 27 at Page 186, Thence south 18°35'48" west from said point of beginning, through Tract "BC" and along the center of a drainage ditch a distance of 1102 43 feet to a No 5 rebar, Thence south 15°48'47" west continuing through Tract "BC" a distance of 794 88 feet to an iron rod found at the southeasterly corner of Tract "BC", said iron rod being the terminal point of the boundary line 4 \11537474 1 G 44 ? O 0 ? y Q Y Z ? r? JENNIFER H MACNEISH REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 *?tR*RRi*#A*if*•Ri##fiti}if?*H?f?i}?*}**tff*}*i**}*4f*#*f}ffit#f}}??#fR?t}f}tif?ifi*??##?**#**#iti}}#}#f*##i?}#tfffit}i Filed For Registration: Book: Document No: NC REAL ESTATE EXCISE TAX Recorder 0610812010 11 38 36 AM RE 5490 Page* 1563-1567 2010015647 5 PGS $2800 $6,76000 CRESWELL, ANDREA State of North Carolina, County of New Hanover PLEASE RETAIN YELLOW TRAILER PAGE WITH ORIGINAL DOCUMENT. *2010015647* 2010015647 2`) 'NIIIIAI1Y141 2010015648 FOR REGISTRRTiON REGISTER OF DEEDS JENNIFER H MCNEISH NEW HRNOVER COUNTY NC 2010 JUN 08 11 38 36 AM 8K 5490 PG 1568-1570 FEE $17 00 INSTW # 28IN1598 NOTICE OF FORECLOSURE OF A DEED OF TRUST NEW HANOVER COUNTY, NORTH CAROLINA N.C.G.S. § 45-38 DRAWN BY AND MAIL AFTER RECORDING TO: McGuireWoods LLP 300 N. Third Street, Suite 400 P.O Box 599 (28402) Wilmington, North Carolina 28401 Parcel Identifier No R07900-003-055-000 Short Legal Description- Tract BC of Congleton Property near Carolina Beach Road and State Road 1492, Map Book 33 at Page 227 THIS INSTRUMENT made this 4 day of June, 2010 Name of all parties to the original instrument TRUSTEE'S NAME AND GRANTOR ADDRESS BENEFICIARY Cypress Grove Land, LLC Frederick Willetts, III, Original Cooperative Bank Trustee (and H. Kenneth Stephens 11, Substitute Trustee) The designation Grantor, Trustee and Beneficiary as used herein shall include said parties, their heirs, successors, and assigns, and shall include singular, plural, masculine, feminine or neuter as required by context The undersigned Substitute Trustee hereby files this Notice of Foreclosure on that debt or other obligation secured by a Deed of Trust executed by Cypress Grove Land, LLC (the "Grantor"), in which Frederick Willetts, III was the original Trustee and Cooperative Bank was the original Beneficiary dated June 27, 2006 and recorded on June 27, 2006 in Book 5043 at Page 787 of the New Hanover County Public Registry (the "Deed of Trust") pursuant to the provisions of G.S § 45-38 Said Deed of Trust was foreclosed on May 6, 2010, and the lands conveyed thereby to First Troy SPE, LLC by Substitute Trustee's Deed dated June, 2010 The Substitution of Trustee for the Deed of Trust was recorded in Book 5440 at Page 2534 of the New Hanover County Registry IN WITNESS WHEREOF the Substitute Trustee has set his hand the day and year first above written . r-,2? - - ae ? Keene Stephens II, stitute Trustee STATE OF NORTH CAROLINA ra:t.>r'15 ua, c ?_ COUNTY I, Arn A J W. Hot I .S , a Notary Public for the State and County aforesaid, do hereby certify that H. Kenneth Stephens II, Substitute Trustee, either (i) being personally known to me or (n) proven by satisfactory evidence (said evidence being _ n. 0 wf--? ), personally appeared before me this day and acknowledged the voluntary due execution of the foregoing instrument by him/her for the purposes stated therein WITNESS my hand and notarial seal, this _ [44n day of June, 2010 Vnc I: r, Notary Public Print or Type Name• ; ?? W ,? <<S My Commission Expires 10 -'Z ao1 A ?qa dal) 'C?l 3E ' . N r. ?Irw S?_ .? 2 X11537652 1 0ONTY.? ? I 0 0 Z ?w JENNIFER H MACNEISH REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 ft#R#iftfltfiRRit#*f•#*it##RiRRiifi*tiA*f*t#tf#fff!!f#!f#tfRtlMiitlf##R#**ifR#**iflf#tttt#f#!lfttiRR**#*#*fR*iii*i*i*** Filed For Registration Book. Document No.: Recorder: 061081201011:38:36 AM RE 5490 Page: 1568-1570 2010015648 3 PGS $17.00 CRESWELL, ANDREA State of North Carolina, County of New Hanover PLEASE RETAIN YELLOW TRAILER PAGE WITH ORIGINAL DOCUMENT. *2010015648* 2010015648