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Home My WebLink About20060405 Ver 1_Foreclosure Paperwork_20100608-1 O-S r Ave-e- 2. re, too( o Vas o 06- al ?? 5845 ??! FOR REGISTRATION REGISTER OF DEEDS NEW FIAINOVER C6 NCNTY, EISNC 2018 JUN 08 f 138 36 AM 8K 5498 PG 1552-1558 FEE $34 00 NC REV ST?Ip AM 00 IOff 120111 5 4SUBSTITUTE TRUSTEE'S DEED DRAWN BY AND MAIL TO: Tax Parcel No Grantee Excise Tax. MCGUIREWOODs LLP 300 N. Third Street, Suite 400 P.O. Box 599 (28402) Wilmington, NC 28401 See attached "EXHIBIT B" for complete listing First Troy SPE, LLC THIS DEED, made this the of June, 2010, by and between H Kenneth Stephens II, 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 January 24, 2006, Colorado Coastal Development Company, 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 January 25, 2006 in Book 4969 at Page 2270 (the "Deed of Trust") to which reference is hereby made, and 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 5438 at Page 2916, 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 0094", 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 Superior Court of New Hanover County, North Carolina, by Findings of Fact, Conclusions of Law and Order Allowing Foreclosure Sale filed April 5, 2010, authorized Grantor to proceed under said Deed of Trust and sell the property as herembelow 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, restrictions, 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 $1,954,163 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 sale 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 price 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 those certain lots, parcels or tracts 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, /11526028 1 I 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 yea} first above written H. Ke1?inetA StephagII, Substitute Trustee STATE OF NORTH CAROLINA COUNTY OF w; <- (SEAL) 1, Arv-ijkV W. J?bkl iS , a Notary Public for the State and County aforesaid, do hereby certify that 14. Kenneth Stephens II, Substitute Trustee, either (r) being personally known to me or (u) proven by satisfactory evidence (said evidence being _____ _?nto? 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 _4?n day of June, 2010 Notary Publ> Print or Type Name ?1?1 W .p?,S My Commission Expires (A(f x..No1,va?Sea1) J•,aa,C7 ; ? ,1 ? i? ??h4 '.>C:• tea. :?? S n up : \1 1526028 1 EXHIBIT "A" Beginning for reference at a Centerline Monument located at the intersection of the east line of Myrtle Grove Road and the centerline of Shannon Drive, thence South 01 degrees 42 minutes 27 seconds West 552 61 feet to an Iron Pin Set this survey on the east line of Myrtle Grove Road Said Iron Pin Set also being the corner common to that parcel conveyed to William J Bryan, Jr et al, in Deed Book 1477, Page 741 (PID R07908-003-021-000) and that parcel conveyed to Ronald Hughes et ux in Deed Book 2958, Page 792 (PID R07908-003-021-000) and being the principal place of beginning for this survey Thence leaving said east line of Myrtle Grove Road with that line common to said Bryan parcel and said Hughes parcel, South 68 degrees 31 minutes 01 seconds East, 665 01 feet to an Iron Pin Set this survey in the south line of said Hughes parcel Thence leaving said south line of Hughes parcel and into said Hughes parcel North 21 degrees 28 minutes 59 seconds East 245 74 feet to an Iron Pipe Set this survey the north line of said Hughes parcel and on the south line of that parcel conveyed to Victoria Bonner in Deed Book 4323 Page 243 (PID R07908-003-054-000) Thence with the south line of said Bonner parcel and various parcels that front on Shannon Drive, South 68 degrees 33 minutes 35 seconds East, 1016 23 feet to Concrete Monument Found at the corner common to said Hughes parcel and that parcel conveyed to Daniel Bruton in Deed Book 325 Page 51 (PID 807908-003-020-002) Said Concrete Monument Found also being on the west line of that parcel conveyed to DYC, LLC as shown in Map Book 39, Page 199 (PID R07908-003-071-000) Thence with that line common to said DYC, LLC parcel and said Hughes parcel, South 01 degrees 09 minutes 43 seconds West 203 91 feet to an Iron Pipe Found at the comer common to said Hughes and that parcel conveyed to Telfair Development, Inc, as shown as Tract "B", Salt Marsh and Conservation Area in Map Book 39, Page 199 (PID R07908-003-072-000) Thence with that line common to Hughes and Telfair parcels, South 01 degrees 09 minutes 43 seconds West 58 94 feet to a Concrete Monument Found at the comer common to said Hughes and Bryan parcels Thence leaving said Hughes parcel and continuing with that line common to Bryan and Telfair parcels, South 01 degrees 12 minutes 26 seconds West, 262.99 feet to a Concrete Monument Found at the southeast corner of said Bryan parcel and on the north line of that parcel know as Lot 17, Windy Oaks Subdivision Thence North 68 degrees 06 minutes 26 seconds West 1622 97 feet with the north line of said Windy Hills Subdivision and the south line of said Bryan parcel to an Iron Pin Set this survey on the north line of that parcel conveyed to Willie James Hobbs to Deed Book 2010 Page 725 (PID R07908-003-023-000) 4 /11526028 1 i '1 Thence leaving said north line of Windy Hills Subdivision and into said Bryan parcel, North 21 degrees 28 minutes 59 seconds East, 175 09 feet to an Iron Pin Set this survey Thence North 68 degrees 31 minutes 01 seconds West 218 91 feet to an Iron Pin Set this survey on the east line of Myrtle Grove Road. Thence North 01 degrees 30 minutes 30 seconds East to the pnnclpal place of beginning Containing 15 033 acres or 654,837 Sq Ft , more or less. The area contained within the above described parcel is derived from the following All of PID R07908-003-022-000 9.033 acres Part of PID R07908-003-021-000 6 00 acres This description was based on an actual field survey performed in June 2004 by GeoInnovat>on Survey Solutions, PLLC All pins referred to as set are 5/8' X 30" rebar with a yellow plastic cap inscribed with "GEOINNOVATION SURVEY" Basis of bearing for this survey is NAD 1983/1986 All distances shown herein are ground US Survey Foot 5 \1 1526028 1 EXHIBIT "B" Parcel ID Address R07908-003-084-000 1617 Tall Ships Lane R07908-003-085-000 1621 Tall Ships Lane R07908-003-086-000 1625 Tall Ships Lane R07908-003-087-000 1629 Tall Shi s Lane R07908-003-088-000 1633 Tall Ships Lane R07908-003-089-000 1637 Tall Ships Lane R07908-003-090-000 1641 Tall Ships Lane R07908-003-091-000 1717 Tall Mast Court R07908-003-092-000 1721 Tall Mast Court R07908-003-093-000 1725 Tall Mast Court R07908-003-094-000 1729 Tall Mast Court R07908-003-095-000 1733 Tall Mast Court R07908-003-096-000 1732 Tall Mast Court R07908-003-097-000 1736 Tall Mast Court R07908-003-098-000 1740 Tall Mast Court R07908-003-099-000 1744 Tall Mast Court R07908-003-100-000 1728 Tall Mast Court R07908-003-101-000 1724 Tall Mast Court R07908-003-102-000 1720 Tall Mast Court R07908-003-103-000 1716 Tall Mast Court R07908-003-104-000 6015 Myrtle Grove Road R07908-003-105-000 1708 Tall Mast Court R07908-003-106-000 1704 Tall Mast Court R07908-003-107-000 1664 Tall Ships Lane R07908-003-108-000 1668 Tall Ships Lane R07908-003-109-000 1656 Tall Ships Lane R07908-003-110-000 1652 Tall Ships Lane R07908-003.111-000 1648 Tall Ships Lane R07908-003-112-000 - 1644 Tall Ships Lane R07908-003-113-000 1640 Tall Ships Lane R07908-003-114-000 1636 Tall Ships Lane R07908-003-115-000 1632 Tall Ships Lane R07908-003-116-000 1628 Tall Ships Lane R07908-003-118-000 1620 Tall Ships Lane R07908-003-119-000 1616 Tall Ships Lane R07908-003-120-000 1612 Tall Ships Lane R07908-003-121-000 1645 Tall Ships Lane U 1526028 1 ONTY.? a G }a 0 r ? y rl OT /?/ I lw/? ?7!r JENNIFER H MACNEISH REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 •rw*riaaaiatwrrrrwaiiwxariwaaaixatwtawaarataaataxtwa+?txiaarrttiiraattarxattittiixixiitxxrrititairratxxixxxtiixxxxtiixiit Filed For Registration Book: Document No.: NC REAL ESTATE EXCISE TAX Recorder 061081201011:38:36 AM RE 5490 Page- 1552-1558 2010015645 7 PGS $34.00 $3,90900 CRESWELL, ANDREA State of North Carolina, County of New Hanover PLEASE RETAIN YELLOW TRAILER PAGE WITH ORIGINAL DOCUMENT. *2010015645* 2010015645 16 t t ?. 2010015646 FOR REGISTRATION REGISTER OF DEEDS JENNIFER H MACNEISH NEW HANOVER COUNTY, NC 2010 JUN 08 11 38 36 AM 8K 5490 PG 1559-1562 FEE $20 00 MTRUMENI 1 2010015646 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 See "Exhibit A" Short Legal Description 15 033 acres, more or less Myrtle Grove Sound and Shannon Drive THIS INSTRUMENT made thls? day of June, 2010 Name of all parties to the original instrument TRUSTEE'S NAME AND GRANTOR ADDRESS BENEFICIARY Colorado Coastal Frederick Willetts, III, Original Cooperative Bank Development Company Trustee (and H. Kenneth Stephens II, 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 Colorado Coastal Development Company (the "Grantor"), in which Frederick Willetts, III was the original Trustee and Cooperative Bank was the original Beneficiary dated January 24, 2006 and recorded on January 25, 2006 in Book 4969 at Page 2270 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 ?W 2010 The Substitution of Trustee for the Deed of Trust was recorded in Book 5438 at Page 2916 of the New Hanover County Registry IN WITNESS WHEREOF the Substitute Trustee has set his hand the day and year first above written , H Kenneth Stephens ILAubstitute Trustee STATE OF NORTH CAROLINA .1 r?U C.Lj! COUNTY I>?_ (1 ?_, a Notary Public for the State and County aforesaid, do hereby certify that H Kenneth Stephens 11, Substitute Trustee, either (i) being personally known to me or (ii) proven by satisfactory evidence (said evidence being {?.?ne ), 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 y day of June, 2010 Notary Public Print or Type Namel ; .? My Commission Expires (Affix Nq al) •? 4 -ft1 c, .......• , . coo m -4 r" IP r 2 \1 1526223 1 "Exhibit A" Parcel ID Address R07908-003-084-000 1617 Tall Ships Lane R07908-003-085-000 1621 Tall Ships Lane R07908-003-086-000 1625 Tall Ships Lane 807908-003-087-000 1629 Tall Shi s Lane R07908-003-088-000 1633 Tall Ships Lane R07908-003-089-000 1637 Tall Ships Lane R07908-003-090-000 1641 Tall Ships Lane R07908-003-091-000 1717 Tall Mast Court R07908-003-092-000 1721 Tall Mast Court R07908-003-093-000 1725 Tall Mast Court R07908-003-094-000 1729 Tall Mast Court R07908-003-095-000 1733 Tall Mast Court R07908-003-096-000 1732 Tall Mast Court R07908-003-097-000 1736 Tall Mast Court R07908-003-098-000 1740 Tall Mast Court R07908-003-099-000 1744 Tall Mast Court R07908-003-100-000 1728 Tall Mast Court R07908-003-101-000 1724 Tall Mast Court R07908-003-102-000 1720 Tall Mast Court R07908-003-103-000 1716 Tall Mast Court R07909-003-104-000 6015 Myrtle Grove Road R07908-003-105-000 1708 Tall Mast Court R07908-003-106-000 1704 Tall Mast Court R07908-003-107-000 1664 Tall Ships Lane R07908-003-108-000 1668 Tall Ships Lane R07908-003-109-000 1656 Tall Ships Lane R07908-003-110-000 1652 Tall Ships Lane R07908-003-111-000 1648 Tall Ships Lane R07908-003-112-000 1644 Tall Ships Lane R07908-003-113-000 1640 Tall Ships Lane R07908-003-114-000 1636 Tall Ships Lane R07908-003-115-000 1632 Tall Ships Lane R07908-003-116-000 1628 Tall Ships Lane R07908-003-118-000 1620 Tall Ships Lane R07908-003-119-000 1616 Tall Ships Lane R07908-003-120-000 1612 Tall Ships Lane R07908-003-121-000 1645 Tall Ships Lane -. \1 1526223 1 c,O?N} Y!? 0 awe- a ?? Z ' , M?01 Is pl.f, JENNIFER H MACNEISH REGISTER OF DEEDS, NEW HANOVER 216 NORTH SECOND STREET WILMINGTON, NC 28401 ##*#####iRRtiRiR*##RtiR-ai*f*R###!*##t#*!*;#**i*R*####*#AR*#iR#R##iRi*ti*Ri#R*#R##RR#R**#R##ii#fi*#i##;###i!*#*#f#f*ift#f Filed For Registration. 06/081201011 38.36 AM Book. RE 5490 Page, 1559-1562 Document No. 2010015646 4 PGS $20.00 Recorder CRESWELL, ANDREA State of North Carolina, County of New Hanover PLEASE RETAIN YELLOW TRAILER PAGE WITH ORIGINAL DOCUMENT. *2010015646* 2010015646