(Village at Sheepscot Condominium, Unit # 701, Edgecomb, Lincoln County, Maine)
By virtue of and in execution of the Power of Sale contained in a certain First Mortgage, Security Agreement and Financing Statement given by Sheepscot Pool House, LLC (“Mortgagor”) to Sheepscot Harbour Village Development, LLC (“Mortgagee”) dated January 18, 2017, and recorded on January 20, 2017 in the Lincoln County Registry of Deeds in Book 5098, Page 97 (the “Mortgage”), of which Mortgage Sheepscot Harbour Village Development, LLC is the present holder, for breach of the conditions of said Mortgage and for the purpose of foreclosing the same, there will be sold, pursuant to 14 M.R.S.A. §6203-A at Public Sale at 11:00 A.M. on OCTOBER 17, 2017, at 318 Eddy Road, Unit 101, Edgecomb, Lincoln County, Maine, all and singular the premises described in said Mortgage, to wit:
The description of the real estate encumbered by the Mortgage is as further described in a Quitclaim Deed dated January 18, 2017, and recorded in the Lincoln County Registry of Deeds in Book 5098, Page 156, which said description is hereby specifically incorporated herein by reference.
Said Premises will be conveyed subject to and together with all rights, duties and obligations contained in or referenced to in the Declaration of Condominium for Village at Sheepscot Condominium (the “Declaration”) dated February 5, 2016 and recorded in the Lincoln County Registry of Deeds in Book 4977, Page 1. The sale of the Premises will include the sale and transfer of any and all real estate as described hereinabove, as well as the sale and transfer of any and all declarant rights and/or special declarant rights pursuant to said Declaration and any and all applicable provisions of the Maine Condominium Act codified at 33 M.R.S.A. §§ 1601-101, et seq.
Said Mortgage states that it is for business or commercial purposes, and not for personal family or household purposes. The auction will be conducted by The Keenan Auction Company, Inc., Stefan P. Keenan, CAI, AARE, 1 Runway Road, South Portland, Maine 04106, (207) 885-5100; www.keenanauction.com; firstname.lastname@example.org.
Inspection: The premises may be open for public inspection from 10:00 A.M. until 12:00 P.M. on October 3, 2017, but Auctioneer should be contracted for inspections.
Terms of Sale: The sale will be conducted as a public auction, with bids being made orally. Prospective bidders must register with the auctioneer prior to the sale and submit a deposit of $5,000 (nonrefundable as to highest bidder), in certified or bank check made payable to Keenan Auction Company, Inc. (deposited with the Auctioneer as a qualification to bid), wire transfer, or cash, increased to Ten Percent (10.00%) of the total purchase price within 5 days of the sale. The premises will be sold to the highest bidder. The Mortgagee explicitly reserves the right to bid (without having to make the required deposit). The deposits of unsuccessful bidders will be returned immediately after the sale. The highest bidder will sign a Purchase and Sale Agreement with Sheepscot Harbour Village Development, LLC, which will require payment of the balance of the successful bid within 30 days thereafter. Sheepscot Harbour Village Development, LLC will convey the real estate to the purchaser by Quitclaim Deed without Covenant (Release Deed). Said Release Deed will convey the property subject to and with the benefit of all restrictions, easements, improvements, tax titles, taxes, assessments, liens, claims, and encumbrances of record created prior to the Mortgage.
Additional terms will be announced at the sale.
Dated: September 6, 2017
James A. Hopkinson
– Bar No. 2798
Gerald B. Schofield, Jr.
– Bar No. 4454
Attorneys for Mortgagee/Lender
746 High Street, Bath, Maine 04530