2 Pleasant Street, Houlton, Maine Tax Map 034-3-058
[font=font36821][u]9:00 A.M., September 20, 2016[/font][/u]
By virtue of and in execution of the power of sale contained in a certain Mortgage and Security Agreement (the "Mortgage") given by Paradigm Developments LLC (the "Mortgagor") originally to Savings Bank of Maine dated October 24, 2008 and recorded on October 31, 2008 in the Aroostook County Southern District Registry of Deeds, [font=font36821]Book 4642, Page 293[/font], as assigned by The Bank of Maine (its successor entity) to Boothbay Pool I LLC dated February 7, 2012 and recorded in [font=font36821]Book 5023, Page 200[/font], as further assigned by Boothbay Pool I LLC to [font=font36821]VFC Partners 38 LLC[/font] (c/o First City Servicing Corporation, 6400 Imperial Drive, Waco, TX 76712) (the "Bank"), dated July 2, 2105 and recorded in [font=font36821]Book 5452, Page 163[/font], of which Mortgage the Bank continues to be the present holder, for breach of the conditions of the Mortgage and for the purpose of foreclosing the same, the property in Houlton, Aroostook County, Maine, described in said Mortgage, reference to which mortgage is made for a complete description of the real estate, and further described in that certain deed into Mortgagor from Cornerstone Baptist Church of Greater Houlton, Inc., dated April 21, 2005 and recorded in Book 4110, Page 334, commonly known as 2 Pleasant Street, Houlton, will be sold at public sale at [u]9:00 A.M. on September 20, 2016[/u]. The public sale will be held at the mortgaged property at 2 Pleasant Street, Houlton, Maine.
The foregoing premises shall be conveyed subject to the following items:
1. Any and all municipal, state, or federal laws, regulations, and ordinances including, without limitation, permits and approvals heretofore issued by any federal, state, or municipal government authority (compliance with, application for the transfer of any such permits, or approvals shall be the sole responsibility of the purchaser).
2. Any and all encumbrances senior to the mortgage and easements of record and any governmentally imposed or required zoning, subdivision, environmental, and other land use restrictions.
3. Any condition which a physical examination or adequate survey of the premises might reveal.
4. Any lien, or right to a lien, for services, labor, or material heretofore or hereafter furnished, imposed by law and which may survive the foreclosure of the Mortgage, and which may or may not be shown by the public records.
5. All outstanding municipal fees and charges, including water and sewer and municipal taxes, including those which constitute liens encumbering the mortgaged premises.
6. Any and all conditions shown on any recorded plans of all or a portion of the property.
[u]TERMS OF SALE[/u]: THE PROPERTY HEREINABOVE DESCRIBED IS BEING SOLD ON AN "AS IS" "WHERE IS" BASIS, WITHOUT ANY WARRANTY WHATSOEVER AS TO THE CONDITION, FITNESS, SIZE, HABITABILITY, MERCHANTABILITY, OR LOCATION OF THE PROPERTY OR THE STATE OF TITLE TO THE PROPERTY.
The Bank expressly reserves the right, in its sole discretion, to bid in amounts due and owing, or portions thereof, under the Mortgage, until the Mortgage is satisfied.
Conditional Assignment of Leases and Rents from Paradigm Developments LLC to Savings Bank of Maine dated October 24, 2008 and recorded in Book 4642, Page 308, which has been assigned per those assignments listed above to VFC Partners 38 LLC, all of which shall likewise be included in the sale of the property subject to the above Mortgage.
All personal property originally granted in the Mortgage as additional security under the security agreements contained in the above Mortgage shall likewise be sold, together with the real property.
Interests junior to the Mortgage being foreclosed are, to the best of the Bank's knowledge, as follows:
Mortgage from Paradigm Developments LLC to Atlantic National Trust, LLC, in the original principal amount of $598,294.06 (evidenced by two notes both dated August 24, 2005, one in the amount of $369,337.76 and a second note in the amount of $165,000.00, both of which notes have been modified by Allonge and Modification dated January 27, 2011 and by Note Modification Agreement dated January 26, 2012), said Mortgage being dated January 26, 2012 and recorded in [font=font36821]Book 5100, page 151[/font], as assigned by Atlantic National Trust LLC to ATL Holdings LLC (c/o Capital Servicing, Inc. 50 Portland Pier, Suite 400, Portland, ME 04101) by instrument dated July 24, 2015 and recorded in [font=font36821]Book 5455, Page 85[/font].
Bid deposits of $10,000 must be made by cash or certified check, each deposit made by any successful bidder is to be increased to ten percent (10%) of the purchase price, by cash or certified U.S. funds, not later than five (5) days of the sale date. Purchaser must sign a purchase and sale agreement with the Bank, which agreement shall provide in part (1) that the purchaser will be responsible for all real estate and/or personal property taxes and other municipal charges attributable to the respective property unpaid and in arrears and for all subsequent tax years, and (2) that a closing of the sale shall be held within thirty (30) days of the public sale where, upon presentation by the Bank of the duly executed quitclaim deed without covenant, the remaining balance of the purchase price will be due in cash or certified funds.
The Bank expressly reserves the right to bid without making the required deposits, to modify the terms of the sale set forth above, to add additional terms as it so wishes, to authorize the mortgagor to sell the property or any portion of it prior to the public sale date, or to cancel the public sale.
Other terms and conditions of sale, including any modification or additions to the terms set forth above, will be set forth in the auctioneer's materials and/or announced at the time of the sale.
For further information, please contact the auctioneer, Stef Keenan, Keenan Auction Company, 1 Runway Rd., South Portland, Maine 04106, 207-885-5100, info@keenanauction.com. VFC Partners 38 LLC, John P. McVeigh, Esq., its Attorney.
Aug. 27, Sept. 3, 10, 2016
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