NOTICE OF DEFAULT AND FORECLOSURE SALE WHEREAS, on December 12, 1984, a certain Deed of Trust was executed by Erwin …

NOTICE OF DEFAULT AND FORECLOSURE SALE WHEREAS, on December 12, 1984, a certain Deed of Trust was executed by Erwin Elderly Housing Inc. as grantor in favor of Secretary of Housing and Urban Development as beneficiary and Robert W. Fields as trustee, and was recorded on December 12, 1984, in Book 775, Page 375 in the office of the Register of Deeds of Harnett County, North Carolina; and WHEREAS, the Deed of Trust was authorized by the United States Secretary of Housing and Urban Development (the Secretary) pursuant to Section 202 of the National Housing Act of 1959, 12 U.S.C. § 1701q, for the purpose of providing multifamily housing to the elderly; and WHEREAS, a default has been made in the covenants and conditions of the Deed of Trust in that the payment due on July 1, 2018, was not made and remains wholly unpaid as of the date of this notice, and no payment has been made sufficient to restore the loan to currency; and WHEREAS, by virtue of this default, the Secretary has declared the entire amount of the indebtedness secured by the Deed of Trust to be immediately due and payable; NOW THEREFORE, pursuant to powers vested in me by the Multifamily Mortgage Foreclosure Act of 1981, 12 U.S.C. 3701 et seq., by 24 CFR Part 27, and by the Secretary’s designation of me as Foreclosure Commissioner, notice is hereby given that on Tuesday, August 20, 2019 at 10:00 AM local time, all real and personal property at or used in connection with the following described premises located at 201 “E L” Street, Erwin , NC 28339 (Erwin Elderly Housing), a legal description of which is attached hereto, will be sold at Public auction to the highest bidder: The sale will be held on the courthouse steps, or other location designated by the Harnett County Clerk of Court for conducting such foreclosure sales, at the Harnett County Courthouse, located at 301 W. Cornelius Harnett Blvd., Lillington, NC 27546. The successful bidder (other than the Secretary) will, pursuant to 12 U.S.C. 3706 (b) (2) (A), be required to operate the Project in accordance with the terms, as appropriate, of Section 202 of the National Housing Act of 1959, 12 U.S.C. § 1701q. The successful bidder (other than the Secretary) will be required to execute a Use Agreement with the Secretary which contains the terms and conditions under which the Project must be operated. The Commissioner’s deed to the successful bidder (other than the Secretary) must receive previous participation clearance in accordance with procedures set out in 24 C.F.R. 200.210 et seq. Additional information about this sale, including the terms under which the sale is being conducted, is provided in a bid package which is available from: U.S. Department of Housing And Urban Development 801 Cherry Street, Unit #45 Fort Worth. Texas 76109 Phone No. 817-978-5810 Fax No. 817-978-6018 E-mail: Farla.G.Knight@hud.gov All parties who are interested in bidding at the sale must obtain a bid package. The bid package contains sample copies of documents that the purchaser must deliver at the sale and copies of documents that the purchaser must execute at closing. The bid package also describes, among other things, the procedure for prorating real estate taxes, and the purchaser’s obligations after the sale. When making their bid, all bidders except the Secretary must submit a deposit totaling $10,000 in the form of a certified check made out to the Secretary of HUD. The deposit is nonrefundable. The remainder of the purchase price must be delivered within 30 days of the sale or at such other time as the Secretary may determine for good cause shown, time being of the essence. This amount, like the bid amount in cash. The successful bidder will pay all conveyance fees, all real estate and other taxes that are due on or after the date of closing and all other costs associated with the transfer of title. Before being accepted as the purchaser. The High Bidder must deliver to the Commissioner, at the time of sale, an executed Acknowledgement by Bidder form. In this form, the high bidder acknowledges that he understands the terms of the sale and the obligations to which he will be bound after the sale. The Secretary may grant an extension of time within which to close. All extensions will be for 30 days, and purchaser must pay a fee, which is the greater of 1.5% of the purchase price or HUD’s current holding cost. The extension fee shall be paid in the form of a certified or cashiers check made payable to the Secretary of Housing and Urban Development. If the high bidder closes the sale prior to the expiration of any extension period, the unused portion of the extension fee shall be applied toward the amount due at closing. If the high bidder is unable to close the sale within the required period, or within any extensions of time granted by the Secretary, the high bidder’s deposit will be forfeited, and the Commissioner may offer the Project to the second highest bidder for an amount equal to the highest price offered by that bidder. All other terms of the sale would remain the same. If the second highest bidder rejects the Commissioner’s offer, no further offers will be made and the sale will be canceled. Dated: 6/27/2019 _______________________________ Richard R. Foust, Esq. Foreclosure Commissioner Law Office of Richard R. Foust, P.A. 204 Muirs Chapel Road, Suite 102 Greensboro, NC 27410 Ph. No. 336-834-0510 Fax No. 336.834.0160 EXHIBIT A ERWIN ELDERLY HOUSING, INC. 5.46 ACRES OFF EAST “K” STREET ERWIN, HARNETT CO., N.C. BEGINNING AT AN IRON PIPE CORNER LOCATED IN THE EASTERN RIGHT-OF-WAY MARGIN OF NORTH 11TH STREET (60’ R/W), SAID IRON PIPE CORNER BEING LOCATED N 03 DEGREES 43‘ E 150.00 FEET FROM THE INTERSECTION OF THE EASTERN RIGHT-OF-WAY MARGIN OF NORTH 11TH STREET AND THE NORTHERN RIGHT-OF-WAY MARGIN OF EAST “K” STREET (60’ R/W), SAID CORNER ALSO BEING THE NORTHWEST CORNER OF LOT NO. 37 OF THE ERWIN MILLS SUBDIVISION AS SHOWN ON MAP “G” AND RECORDED IN PLAT BOOK 7, PAGE 11; THENCE N 86 DEGREES 17’ 00” W 357.20 FEET TO AN IRON PIPE CORNER WITH LOTS NO. 32 AND 33 OF THE ERWIN MILLS SUBDIVISION AND ALSO WITH THE OAKDALE ASSOCIATES PROPERTY N 03” 43‘E 707.62 FEET TO AN IRON PIPE CORNER WITH THE OAKDALE ASSOCIATES PROPERTY AND THE ERWIN MILLS SUBDIVISION; THENCE WITH THE LINE OF ERWIN MILLS SUBDIVISION PROPERTY S 59 DEGREES 55’ 40”E 65.04 FEET TO AN IRON PIPE CORNER; THENCE CONTINUING S 03 DEGREES 43’ W 642.66 FEET TO THE POINT OF BEGINNING AND CONTAINING 5.46 ACRES AND BEING A PORTION OF THAT TRACT AS DEEDED TO EDWARD S. TURLINGTON AS RECORDED IN DEED BOOK 655, PAGE 959, HARNETT COUNTY REGISTRY. 7/30; 8/6,13/2019

Posted 12/31/1969