NOTICE OF TRUSTEE’S SALE
203 Interstate Drive, Covington, Virginia 24426
Tax Map Nos. 05700-00-000-0650; 05700-00-000-065B; 05700-00-000-065C
ALLEGHANY COUNTY, VA
In execution of a credit line deed of trust dated December 19, 2019 (the “Deed of Trust”), recorded in the Office of the Circuit Court of Alleghany County, Virginia, as Instrument No.190002395, the undersigned substitute Trustees, any or all of whom may act, will offer for sale at or near 203 Interstate Drive, Covington, Virginia, on February 22, 2023, at 1:00 o’clock p.m.,property located at or near 203 Interstate Drive, Covington, Alleghany County, Virginia, which property is more particularly described as follows:
TRACT I:
ALL of that certain parcel or tract of land in Alleghany County, Virginia, on Interstate Drive (Route 689) and Mallow Drive (Route 647) containing 7.8636 acres, more or less, as shown on the ALTA/NSPS Land Title Plat of Survey dated August 9, 2019, made by Pierson Engineering and Surveying Inc. For Lalitha Sankar and P. Sankar Family Limited Partnership (the “Plat”), and more particularly described as follows:
BEGINNING AT A FOUND IRON PIN FOUND ON THE R/W ON THE SOUTH SIDE OF INTERSTATE DRIVE, BEING CORNER #1, ACCORDING TO THE PLAT; THENCE, ALONG THE SOUTHERN R/W OF SAID ROAD S 77° 46’ 39” E, 69.97’, TO AN IRON PIN, CORNER #2; THENCE S 68° 38’ 04” E 142.27’ TO AN IRON PIN, CORNER #3; THENCE S 57° 47’ 07” E, 325.11’ TO AN IRON PIN, CORNER #4, THENCE LEAVING SAID R/W S 32° 22’ 27” W, 223.30’ TO A CALCULATED POINT, CORNER #5, THENCE S 32° 22’ 27” W, 5.19’ TO A CALCULATED POINT, CORNER #6, THENCE S 73° 22’ 26” E, 222.58’ TO AN IRON PIN LOCATED ON THE EASTERN R/W OF MALLOW ROAD, CORNER #7, THENCE WITH THE EASTERN R/W OF MALLOW ROAD S 12° 34’ 29” W, 413.63’ TO AN IRON PIN, CORNER #8, THENCE LEAVING SAID R/W N 69° 03’ 50” W, 545.55’ TO AN IRON PIN, CORNER #9, THENCE N 12° 28’ 46” E, 147.56’ TO AN IRON PIN, CORNER #10; THENCE N 04° 49’ 30” E, 124.47’ TO AN IRON PIN, CORNER #11; THENCE N 01° 09’ 54” W, 256.65’ TO AN IRON PIN, CORNER #12, THENCE N 01° 23’ 45” W, 80.55’ TO AN IRON PIN, CORNER #13, THENCE N 01° 24’ 16” W, 100.20’ TO AN IRON PIN, CORNER #1, THE POINT OF BEGINNING.
TRACT II:
All that certain parcel or tract of land in Alleghany County, Virginia, containing 0.1847 acres, more or less, as shown on the Plat as Tract A and more particularly described as follows:
BEGINNING AT A FOUND IRON PIN FOUND ON THE R/W ON THE SOUTH SIDE OF INTERSTATE DRIVE, BEING CORNER #4, ACCORDING TO THE PLAT; THENCE LEAVING SAID R/W OF SAID ROAD S 02° 07’ 14” W, 40.42’, TO AN IRON PIN, CORNER #21, THENCE S 66° 24’ 40” W, 28.55’ TO AN IRON PIN, CORNER #20, THENCE S 02° 11’ 16” W, 162.49’ TO A SPIKE NAIL, CORNER #19, THENCE N 73° 22’ 26” W, 89.44’ TO AN IRON PIN, CORNER #5, THENCE N 32° 22’ 27” E, 223.30’, TO THE PLACE OF BEGINNING, CORNER #4.
TRACT III:
ALL of that certain parcel or tract of land in Alleghany County, Virginia, containing 0.0254 acres, more or less, as shown on the Plat as Tract C and more particularly described as follows:
BEGINNING AT A FOUND IRON PIN FOUND ON THE R/W ON THE WEST SIDE OF MALLOW ROAD, BEING CORNER #18 ACCORDING TO THE PLAT, THENCE ALONG SAID R/W S 16° 16’ 05” W. 5.00’, TO AN IRON PIN, CORNER #7, THENCE LEAVING SAID R/W N 73° 22’ 26” W, 222.58’, TO A CALCULATED POINT, CORNER #6, THENCE N 32° 22’ 27” E, 5.19’, TO A CALCULATED POINT, CORNER #5, THENCE S 73° 22’ 26” E, 221.14, TO THE PLACE OF BEGINNING, CORNER #18.
This sale is subject to all liens, easements, restrictions, conditions, and reservations of record affecting the title to the property hereinabove described, to the extent any of them have priority over the lien of the Deed of Trust.
TERMS AND CONDITIONS:
1. AUCTION: Substitute Trustee has employed Greenways Real Estate & Auction, Inc.
2.REGISTRATION: Bids will only be accepted from registered bidders. Your driver's license and a cashier's check made payable to Spilman Thomas & Battle, PLLC in the amount of 10% of the bidder's high bid will be required to register.
3.DEPOSIT: The successful bidders will be required to sign a Memorandum of Sale immediately following the falling of the hammer, and the cashier's check, as described above, will be delivered to the Substitute Trustee. The deposits will be applied to the purchase price at closing. The deposit is non-refundable unless Seller is unable to convey marketable title. Closings are to take place within 30 days of sale. Time is of the essence.
4. DEED: Real property will be conveyed by Special Warranty Deed.
5. ANNOUNCEMENTS: Announcements made on the day of sale, take precedence over all prior communications, both verbal and written, concerning the sale or the property.
6. BUYER'S PREMIUM: There will be a 3% Buyer's Premium in effect on the day of sale. The Buyer's Premium is added to the high bid amount, to determine the contract sale price.
7."AS-IS, "WHERE-IS": The property is being sold "AS-IS", "WHERE-IS". Potential Buyers must perform such independent investigations with respect to the property as they deem necessary to verify information provided by the Auction Company or the Seller.
8. ADVERTISEMENTS: All information provided by Auction Company and the Seller is deemed reliable but is not warranted. The information contained in the advertisement brochure and any advertisements by Auction Company are subject to verification by all parties relying on it. No liability for its accuracy, error or omission is assumed by the Auction Company or the Seller.
9. REPRESENTATIONS: Auction Company and its representatives represent the foreclosing party.
10. BID INCREMENTS: Auctioneer reserves the right to set bid increments.
11. TYPE OF AUCTION: This Auction is an Absolute Auction - regardless of price. Lien holders reserve the right to bid at the sale.
12. PERSONAL PROPERTY SALE: Certain personal property will be sold with the real property or separately at the discretion of the Auction Company. Personal Property may include, but is not limited to, furniture, equipment, and other items on site (excluding property owned by resident occupants. Contact Substitute Trustees below for additional information regarding current occupancy)
13. LINES ON PHOTOGRAPHS: Any property lines drawn on the photographs in the marketing materials are not exact. Refer to the survey found in the land records for the actual property lines.
Bryson J. Hunter, Peter M. Pearl, and Brian H. Richardson, Substitute Trustees,
For Information Contact: Bryson J. Hunter, Spilman Thomas & Battle, PLLC, P.O. Box 90, Roanoke, Virginia 24002
bhunter@spilmanlaw.com, 540-512-1800 Telephone
Greenway’s Real Estate and Auction, Inc. is proud to present this fantastic commercial real estate auction. This ideally located property consists of 7.5 Acres +/-. The property has had multiple upgrades and remodels in the last 24 months. Each room has home-like features and offers the tenant multiple luxurious amenities.
The emphasis of this property was on maintaining a person’s health, wellness, dignity, and independence. When you need a helping hand or personal attention to do the activities you may no longer be able to do safely on your own. This building is set up to be a community that allows confident resort-style independent living.
Amenities Include:
· Kitchenettes with sink, refrigerator/freezer, and microwave
· Individually controlled heat & air conditioning
· Ample closet space
· Carpeted living and sleeping areas
· Linoleum in kitchenette area and bathroom
· Emergency call devices in bathroom
and sleeping areas
· Mini blinds provided
Don’t miss this opportunity to purchase a walk-in ready living complex.
