NOTICE OF FORECLOSURE
WHEREAS, by Deed of Trust dated March 2, 2009, of record in Record Book 117, page 793, Register’s Office of Wayne County, Tennessee, GARY L. PAYNE AND LINDA G. PAYNE, HUSBAND AND WIFE, did convey unto T. Mike Estes, as Trustee, a certain tract of real estate hereinafter described, to secure a certain indebtedness set out in said Deed of Trust; and
WHEREAS, FARM CREDIT MID-AMERICA, FLCA (F/K/A FARM CREDIT SERVICES OF MID-AMERICA, FLCA), is the owner and holder of the note secured by said Deed of Trust hereinabove referred to; and
WHEREAS, ANDREW BOBO was appointed Substitute Trustee by Appointment of Substitute Trustee of record in Record Book 240, page 651, Register’s Office of Wayne County, Tennessee; and
WHEREAS, the said real estate described in said Deed of Trust is as follows: Property located: Hwy. 13 South, Wayne County, Collinwood, TN 38450 and;
BEGINNING at iron stake on west margin of Highway No. 13 at a point 30 feet from center of said Highway, the same being most Northern Northeast corner of 50 ½ acre tract conveyed to Hassell & Hughes Lumber Company, by J. W. Daniel and wife, by deed dated April 21, 1961, and recorded in Deed Book No. 42, page 515, Register’s Office of Wayne County, Tennessee; thence with west margin of said Highway No. 13 and East boundary line of tract of which this is a part North 11 ½ deg. West 164 feet to iron stake in same with 1 red oak pointer; thence South 88 deg. West 355 feet to iron stake in orchard; thence south 4 deg. West 117 feet to iron stake in fence with 2 post oak, hickory and red oak pointers the same being a corner of said Hassell & Hughes Lumber Company 50 ½ acre tract; thence South 87 deg. East 396 feet to the beginning, containing 1.22 acres to be the same more or less according to the survey of W. Hurst, Surveyor. This being the same property conveyed to Gary L. Payne and wife, Linda G. Payne from Mary Louise Pitts by deed dated January 31, 2006 of record in Record Book 78, page 787, ROWCo., Tennessee.
WHEREAS, said Deed of Trust was made to secure the payment of a note therein set out and contained the power to sell in the case of default in the payment of said note and interest at maturity; and
WHEREAS, the makers of said note have defaulted in the payment thereof, and the owner and holder of said note has declared the entire amount due and payable and has requested the undersigned to foreclose said Deed of Trust according to its terms in order to collect said note.
NOW, THEREFORE, I, the undersigned, ANDREW BOBO, SUBSTITUTE TRUSTEE will, in accordance with the terms set out in the Deed of Trust above referred to, on September 16, 2021, at 11:00 A.M., at the door of the Wayne County Courthouse, offer for sale and sell the above-described real estate at public auction to the highest and best bidder for cash in bar of equity of redemption and free from homestead and dower, all in accordance with the provisions of said Deed of Trust and the laws of Tennessee controlling such sales, subject, however, to all outstanding real estate taxes; any applicable easements and restrictions; and prior liens or mortgages, if any
Other interested parties: Wayne County Bank
Said property may be sold as a whole or by individual lots or tracts or groups of lots or tracts at the discretion of the Substitute Trustee.
The right is reserved to adjourn the day of the sale to another day and time certain without further publication and in accordance with law upon announcement of said adjournment on the day and time and place of sale set forth above.
The failure of any high bidder to pay the purchase price and close the sale shall, at the option of the Substitute Trustee, be cause for rejection of the bid, and if the bid is rejected, the Substitute Trustee shall have the option of making the sale to the next highest bidder who is ready, willing, and able to comply with the terms thereof. The proceeds derived from the sale of the property will be applied as provided for in said Deed of Trust. Said Deed of Trust is made a part hereof as if copied verbatim herein.
This sale of the Property shall be subject to any and all taxes, easements, restrictions, building lines, and assessments (plus penalty and interest, if any), and any redemptive rights of any governmental agency, State or Federal (including redemptive rights of any taxing authority by reason of any tax liens), plus any and all other matters and encumbrances superior in right to the lien of the Deed of Trust, as well as any priority created by fixture filing, and any applicable City and/or County zoning ordinances as now affect or as may later affect the parcel.
If the U. S. Department of the Treasury/Internal Revenue Service, the State of Tennessee Department of Revenue, or the State of Tennessee Department of Labor and Work Force Development are listed as interested parties in the advertisement, then the notice of this foreclosure is being given to them, and the sale will be subject to the applicable governmental right to redeem the property, all as required by 26 U.S.C. 7425 and T.C.A. 67-1-1433.
If applicable, the notice requirements of T.C.A. 35-5-117 have been met.
The address of the property is known as 802 Hwy. 13 South, Collinwood, TN 38450, but such address is not part of the legal description of the property sold herein, and in the event of any discrepancy, the legal description herein shall control. This property is further identified as being Map 146, Parcel 13.03 on the records of the Tax Assessor of Wayne County, Tennessee.
THIS LAW FIRM IS ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
This 23rd day of August, 2021.
Andrew Bobo, Substitute Trustee
BOBO, HUNT & WHITE
111 W. Side Square
Shelbyville, Tennessee 37160
(931) 684-3327
ATTORNEYS FOR SUBSTITUTE TRUSTEE
