Master Commissioner Auction - 3 Properties

  Master Commissioner Auction 

  3 Properties: 

  Property 1: 50.46 Acres by survey (as a whole) 

  Property 2: 18.308 Acres +/- (by the boundary) 

  Property 3: 39 Acres +/- (by the boundary) 

  Friday, June 26^th 2015 @ 1:30 p.m. 

  Hwy 461 & Hwy 2549 (Old 461, “White Rock Road”)  

LOCATIONS: Property 1 is located 1.2 miles from the intersection of Hwy 150/461.  

Property 2 – From the intersection of Hwy 461 & Hwy 2549 follow Hwy 2549 north and proceed 7/10 mile to the auction.

Property 3 is located is located at 288 Willow Tree Lane.  From the intersection of Hwy 461 & Hwy 2549 follow Hwy 2549 north ½ mile to Willow Tree Lane.   Follow Willow Tree Lane 2/10 mile.   Auction signs will be posted at each location.

Hon. Jerome S. Fish, acting as the Rockcastle County Special Master Commissioner, in conjunction with the Rockcastle County Circuit Court, has authorized our firm to sell these properties.  This case is referenced as:

  ROCKCASTLE CIRCUIT COURT 

  CIVIL ACTION NO. 14-CI-00195 DIVISION I 

  Citizen’s Bank v. Carl Wayne Sowder, Brenda K. Sowder  

  Whitley County Stone, LLC and Hi-View, LLC  

PROPERTY 1:  A certain tract or parcel of land located on the west side of Highway 461 in Rockcastle County, Kentucky approximately 0.9 miles from the Junction of Highway 2549.

BEGINNING on a post with a capped iron pin set at the base on the west right of way of Highway 461, said post being a corner with Hi-View, LLC (Deed Book 229 Page 094), said post and pin being located south 13 degrees 29 minutes 24 seconds west for a distance of 116.14 feet from a right of way marker found;

Thence with the west right of way of Highway 461 south 17 degrees 51 minutes 34 seconds west for a distance of 33.28 feet to a right of way marker found;

Thence with the west right of way of Highway 461 south 08 degrees 37 minutes 44 seconds west for a distance of 460.45 feet to a right of way marker found;

Thence with the west right of way of Highway 461 south 04 degrees 48 minutes 30 seconds east for a distance of 249.84 feet to a capped iron pin set;

Thence with the west right of way of Highway 461 south 14 degrees 30 minutes 18 seconds west for a distance of 204.13 feet to a capped iron pin set;

Thence with the west right of way of Highway 461 south 05 degrees 15 minutes 29 seconds west for a distance of 400.03 feet to a capped iron pin set;

Thence with the west right of way of Highway 461 south 08 degrees 21 minutes 22 seconds west for a distance of 150.33 feet to a capped iron pin set;

Thence with the west right of way of Highway 461 south 03 degrees 03 minutes 10 seconds east for a distance of 151.33 feet to a capped iron pin set;

Thence with the west right of way of Highway 461 south 02 degrees 37 minutes 58 seconds west for a distance of 300.17 feet to a capped iron pin set;

Thence with the west right of way of Highway 461 south 05 degrees 02 minutes 45 seconds west for a distance of 239.52 feet to a capped iron pin set at the base of a dead stump in the fence line, said capped iron pin set being a corner with Alan Connor (Deed Book 177 Page 123);

Thence with the line of Connor north 87 degrees 53 minutes 50 seconds west for a distance of 390.88 feet to a post with a capped iron pin set at the base, said post being a corner with Jerry McKinney (Deed Book 196 Page 655);

Thence with the line of McKinney north 06 degrees 35 minutes 06 seconds west for a distance of 142.37 feet to a fallen post with a capped iron pin set at the base, said capped iron pin set being a corner with McKinney;

Thence with the line of McKinney north 05 degrees 19 minutes 28 seconds east for a distance of 165.51 feet to a double Hickory with a PK nail set, said double Hickory being a corner with McKinney;

Thence with the line of McKinney north 03 degrees 34 minutes 54 seconds east for a distance of 515.97 feet to a Cedar stump with a capped iron pin set at the base, said Cedar stump being a corner with McKinney;

Thence with the line of McKinney north 08 degrees 17 minutes 55 seconds east for a distance of 214.53 feet to a post with a capped iron pin set at the base, said post being a corner with McKinney;

Thence with the line of McKinney north 19 degrees 59 minutes 28 seconds east for a distance of 226.37 feet to a 14 inch Hickory with a PK nail set; said Hickory being a corner with McKinney;

Thence with the line of McKinney north 18 degrees 02 minutes 57 seconds west for a distance of 127.70 feet to a 10 inch Cedar with a capped iron pin set at the base, said Cedar being a corner with McKinney;

Thence with the line of McKinney north 10 degrees 30 minutes 57 seconds, west for a distance of 70.27 feet to a 8 inch Maple with a capped iron pin set at the base, said Maple being a corner with McKinney;

Thence with the line of McKinney north 03 degrees 42 minutes 03 seconds east for a distance of 402.73 to a ½ inch capped iron pin found 2495, said capped iron pin being a corner with Hi View, LLC (Deed Book 229 Page 094);

Thence with the line of Hi View, LLC north 64 degrees 46 minutes 04 seconds east for a distance of 160.52 feet to a PK nail set in rock, said PK nail being a corner with Hi View, LLC;

Thence with the line of Hi View, LLC north 65 degrees 53 minutes 24 seconds east for a distance of 231.83 feet to a capped iron pin set, said pin being a corner with Hi View, LLC;

Thence with the line of Hi View, LLC north 72 degrees 55 minutes 04 seconds east for a distance of 91.64 feet to a capped iron pin set, said pin being a corner with Hi View, LLC;

Thence with the line of Hi View, LLC north 77 degrees 51 minutes 58 seconds east for a distance of 137.15 feet to a T post found in a stump with a capped iron pin set at the base, said T post being a corner with Hi View, LLC;

Thence with the line of Hi View, LLC south 57 degrees 09 minutes 56 seconds east for a distance of 259.09 feet to a corner on the side of a rock pile, said corner on the rock pile being a corner with Hi View, LLC;

Thence with the line of Hi View, LLC south 37 degrees 45 minutes 03 seconds east for a distance of 86.70 feet to a corner on the side of a rock pile, said corner on the side of a rock pile being a corner with Hi View, LLC;

Thence with the line of Hi View, LLC south 54 degrees 27 minutes 27 seconds east for a distance of 203.49 feet to a post with a capped iron pin at the base which is the point of beginning and having an area of 50.46 acres as surveyed by Bobby Hudson, LPLS1253 on 04/09/2015.  (Plat filed in Plat Book 5 Page 205 Slide 1194 in the Rockcastle County Court Clerk’s Office at Mt. Vernon, KY) Plat attached.

The above described property being a portion of the property conveyed to Carl Wayne and Brenda Sowder by Deed Book 166 Page 531 in the records of the Rockcastle County Court Clerk’s Office at Mt. Vernon, KY.

All corners or witness monuments referred to herein as iron pins set are one-half inch rebar 18 inches long and capped with a one and three quarter inch hard plastic cap with raised lettering saying Bobby Hudson Land Surveying Inc. LPLS 1253 Monumentation, except as otherwise noted within the legend block of the above referenced plat or with the above description.  All bearings are referenced to the meridian.

This property is subject to any and all rights of way and/or easements of record or in existence at this time and regulations that may apply through planning and zoning.  

PROPERTY 2:  Beginning at an iron pin in a drain in the northern right of way of State Highway 2549 (Old 461) and in the southwestern most corner of DeBorde property, thence along said right of way S 50 degrees 24’ 26” W 60.94 feet to a nail in said right of way; thence leaving said right of way and following the center of the Old Freedom Road the following courses and distance: N 7 degrees 54’ 41” W 79.21 feet; N 3 degrees 53’ 50” E 165.33 feet; N 4 degrees 6’ 10” E 204.54 feet; N 30 degrees 08’ 33” W 142.85 feet; N 24 degrees 47’ 47” W 141.85 feet; N 3 degrees 40’ 5” W 299.29 feet; N 8 degrees 58’ 24” W 38.97 feet; N 12 degrees 56’ 36” W 133.20 feet N 13 degrees 2’ 9”W 123.85 feet; N 5 degrees 33’ 17” W 48.82 feet to an iron pin; thence leaving that center of Old Freedom Road S 75 degrees 16’ 4” E 57.08 feet to a post; thence along a line with Mrs. Walter Sowder N 46 degrees 29’ 25” E 591.33 feet to a walnut; thence along a line with Jim Bowling the following courses and distances: S 31 degrees 23’ 44” E 100.65 feet to a post; S 26 degrees 15’ 32” E 597.47 feet to a wild cherry; S 23 degrees 42’ 10” E 130.53 feet to a sassafras; S 07 degrees 23’ 27” E 416.27 feet to a post in the northern right of way of State Highway 2549 (Old 461); thence leaving said right of way and following the center of a drain the following course and distances along a line with DeBorde: S 73 degrees 48’ 16” W 178.97 feet; S 79 degrees 06’ 15” W 36.25 feet; S 82 degrees 01’ 46” W 54.38 feet; S 85 degrees 25’ 11” W 126.33 feet; N79 degrees 00’ 18” W 94.53 feet; S 82 degrees 41’ 24” W 66.93 feet; S 07 degrees 25’ 35” W 27.96 feet; S 02 degrees 20’ 13” W 74.76 feet; S 08 degrees 41’ 31” W 36.59 feet: S 21degrees 21’ 23” W 99.52 feet; S 25 degrees 50’14” W 92.67 feet S 18 degrees 39’ 46” W 68.23 feet S 12 degrees 09” 25” E 37.31 feet; S 07 degrees 07’ 25” W 55.95 feet to an iron pin in the northern right of way of State Highway 2549 (Old 461) , said iron pin being the point of beginning, and containing 18.308 acres, more or less, according to survey by Charles Douglas Mullins, RLS 2773, dated June 6, 1990.

There is further conveyed unto Grantees, theirs heirs or assigns, a 16 ft. wide easement for ingress and egress to the above-described property from State Highway 2549 (Old 461), said easement being approximately 95.10 feet in length and being shown on the plat drawn by Charles Douglas Mullins dated June 6, 1990.  This easement crosses the DeBorde property.

There is excluded however, that portion of the above conveyed to the Commonwealth of Kentucky for right of way purposes by deed dated July 6, 1988, recorded in Deed Book 120, page 511.

The above described property being a portion of the property conveyed to Carl Wayne and Brenda Sowder by Deed Book 152 Page 164 in the records of the Rockcastle County Court Clerk’s Office at Mt. Vernon, KY.

PROPERTY 3: 

TRACT NO. 1- Bounded on the west by the lands of John McKinney; on the north by the lands of Tract #2 herein; on the east by the lands of R.V. Brock and on the south by the lands of Walker Cummins and William Payne, and containing 75 acres more or less.

TRACT NO. 2 – Beginning at a black walnut in line of W.M. McKinney, Alice Simpson or Henry Henzman and George Brown; thence with McKinney’s line to a cedar and water oak pointer in line of W. F. Sowder and W. O. McKinney; thence an eastward course about seventy (70) rods to a stone set up in a conditional line between W. F. Sowder and E.M. Cummins; thence a northeast course a straight line about thirty five (35) rods to a hickory in Lewis line thence a westward course with said Lewis line to the Lewis and Henzman corner thence with a line of the Henzman or Alice Simpson, a westward course to the place beginning, and containing twenty five (25) acres more or less.

There is excluded however, that portion of the above conveyed to the Commonwealth of Kentucky for right of way purposes by deed dated July 6, 1988, as recorded in Deed Book 120, page 511.

There is further excluded from the above property 50.46 acres as described above in “Property 1”.

The above described property being the remainder of the real property conveyed to Wayne and Brenda Sowder in Deed Book 166 Page 531 in the records of the Rockcastle County Court Clerk’s Office at Mt. Vernon, KY.

 TERMS shall be as follows:

1. The sale shall be made subject to all easements, set back lines, restrictions or covenants of record or otherwise and shall be sold “as is”.

2. “Property 1” shall be sold subject to the terms and conditions of the lease dated November 1, 2004.  (See Exhibit 1 attached to Hi-View, LLC’s answer, counter claim and cross claim).  The auctioneer/Special Master Commissioner shall make this announcement before the sale of the tract. In its announcement, the auctioneer/Special Master Commissioner shall also state that the advance royalties paid by Hi-View are still being recouped by Hi-View as provided in the Lease.  

3. The auction shall take place on the premises.

4. The order of sale of the tracts shall be as follows:

1. Property 1
2. Property 2
3. Property 3

5. Each tract shall be sold to the highest bidder for cash or upon credit of 30 days with the purchaser required to pay a minimum of twenty percent (20%) of the purchase price in cash on the date of the sale and to secure the balance with a bond bearing interest at the rate of ten percent (10%) per annum.   No sale shall be final until down payment is made and the bond is signed.  The sale of any remaining tract of real property shall not continue until the high bidder complies with this provision.  In the event the high bidder of a tract fails to make his/her down payment and execute the bond then the Special Master Commissioner shall accept the bid from the next highest bidder who can make the 20% down payment and execute the bond or immediately resale the tract under the same terms.  Once a high bidder pays the down payment and executes the bond then the sale of the next tract can proceed.

6. The buyers shall have the privilege of paying the entire purchase price in cash or paying the bond before maturity by paying the principal amount thereof together with all interest accrued thereon to the date of said payment.

7. Unpaid taxes of liens of record at the time of entry of judgment shall be paid out of the proceeds of the sale (subject to the priority set out elsewhere in the judgment).

8. The buyer(s) shall pay the 2015 Local, County, State and School taxes on the property and each year thereafter. 

9. The buyer(s) shall have possession of the real property upon compliance with the terms of sale.

10. In the event that the plaintiff is the successful bidder on any tract and the aggregate sale price does not exceed the amount of the plaintiff’s judgment, no deposit or bond shall be required and the property will be conveyed to the plaintiff in due season upon payment of the expense of sale.

Auctioneer/Broker/Seller Disclaimer: The information contained herein is believed to be correct to the best of the auctioneer’s knowledge. The information is being provided for the bidder’s convenience and it is the bidder’s responsibility to determine the information contained herein is accurate and complete. The property is selling in its ‘as-is’ condition with no warranties expressed or implied.

Announcements day of sale take precedence over printed matter.

Sam Ford, Auctioneer                   Danny Ford, Auctioneer