STATE OF VERMONT
Docket No. 353-7-12 Wmcv
DOUGLAS E. UNDERHILL;
CAVALRY SPV I, LLC; and
All UNNAMED OCCUPANTS RESIDING AT 1570 WILMINGTON CROSS ROAD,
Defendants NOTICE OF
By virtue and in execution of the Power of Sale contained in certain Mortgage given by Douglas E. Underhill to Merchants Bank dated May 3, 2010 and recorded in Book 139, at Page 194 in the Town of Whitingham Land Records, for breach of the conditions of said Mortgage and for the purpose of foreclosing the same will be sold at Public Auction at 11 A.M. on June 18, 2013, at the site of the real property at 1570 Wilmington Cross Road, Whitingham, Vermont, all and singular the premises described in said Mortgage:
TO WIT: Being all and the same lands and premises conveyed to Dorothy M. Underhill (deceased) and Douglas E. Underhill by Quit Claim Deed of Karen C. Underhill dated March 8, 1995 and recorded on March 10, 1995 in Volume 93 at Page 438 of the Land Records of the Town of Whitingham.
Being all and the same lands and premises conveyed to Dorothy M. Underhill, Douglas E. Underhill and Karen C. Underhill by Quit Claim Deed of Dorothy M. Underhill dated October 24, 1988 and recorded on October 25, 1988 in Volume 80 at Page 473 of said Land Records.
Being all and the same lands and premises conveyed to Albert H. Underhill (now deceased) and Dorothy M. Underhill by Warranty Deed of Truman Powers and Alice Powers dated June 10, 1964 and recorded in Volume 48 at Page 483 of said Land Records.
“PARCEL I – Being a rectangular piece of land located on the easterly side of Cross Road, so-called, with a frontage of 150 feet on said Cross Road and a depth of 100 feet, the corners of said parcel being marked by iron stakes and being bounded on the northeast and south by other lands of said Truman Powers. Said parcel lies southerly of land now owned by Victor D. Tracy and opposite lands now owned by Joseph L. Bekkenhuis, Jr. together with the right to use a certain spring of water located approximately 400 feet southeast of the premises herein conveyed and located on other lands of said Truman Powers and including the right to enter on to other lands of said Truman Powers for the right to lay, relay and repair a line from said spring to the premises herein conveyed and for the right of developing, repairing and maintaining said spring. All said work is to be done in a reasonable and workmanlike manner.
PARCEL II – Beginning at an iron pin marking the southeast corner of other lands of these grantees; running thence easterly along a stone wall approximately 60 feet to an iron pin placed at the intersection of another stone wall; thence running northerly, along said stone wall, approximately 225 feet to an iron pin placed in said wall; thence running westerly to an iron pin on the east side of Cross Road, so-called; thence running along the east edge of said Cross Road, approximately 75 feet to an iron pin marking the northwest corner of said other lands of these grantees; thence running along the north line of the said other lands of these grantees approximately 100 feet to an iron pin; thence running south along the east line of the said other lands of these grantees 150 feet to the place of beginning.”
Reference may be made to the aforementioned deeds and said bill of sale and to their records, and to all prior deeds and to their respective records, for a more complete and particular description of the land and premises herein conveyed.
Subject to such rights of way and easements as may exist of record.
Reference is hereby made to the above-mentioned instruments, the records thereof, and references therein made, and their respective records and references, and the Judgment Order and Decree of Foreclosure issued October 31, 2012 in further aid of this description.
The property will be sold in its entirety to the highest bidder as a single unit. It is up to each bidder to perform its own due diligence with respect to the property prior to the public sale that a bidder deems sufficient.
The public sale of the Mortgaged Property will be “AS IS, WHERE IS, WITH ALL FAULTS” (known or unknown), with no representations or warranties of any kind whatsoever, with the purchaser taking all defects and risks associated with or connected to the property being sold, and all liens of record, restrictions, easements, improvements, covenants, tenancies, rights, encumbrances, and matters of any kind and every nature which may take precedence over the lien of the mortgage being foreclosed.
The high bidder is responsible for the payment of the property taxes and municipal assessments, and any fire district taxes (delinquent and current, with all penalties and interest as of the date of closing on the sale of the property after confirmation of the sale by the Vermont Superior Court).
In order to qualify to bid at the public sale, at the time of sale, interested persons, other than from the mortgagee, must present to the auctioneer a deposit of $10,000 in the form of cash, a bank treasurer’s check, or certified funds, with the deposit to be increased to 10% of the sale price within 5 days of the public sale, if the deposit does not at least equal 10% of the sale price. The deposit is subject to forfeiture. The mortgagee has the right to credit bid at the sale without producing any deposit. The remaining balance of the purchase price shall be paid in good funds at closing, to occur within thirty (30) days of the public sale or within ten (10) days of Court Confirmation of the Sale by the Vermont Superior Court, Windham Unit, Civil Division, whichever is later. The sale is subject to confirmation by the Vermont Superior Court, Windham Unit, Civil Division. The successful bidder, other than the mortgagee, will have to sign a purchase and sale agreement at the conclusion of the public sale. If the Plaintiff makes the highest bid, Plaintiff shall be required to pay cash or certified funds only to the extent that its bid is in excess of the sum due it by the Defendant Mortgagor up to the date of sale under the Judgment and Decree and the costs and expenses of the sale.
The person holding the public sale may, for good cause, adjourn the sale one or more times for a total time not exceeding 30 days, by announcement of the new sale date to those present at each adjournment or by posting notice of the adjournment in a conspicuous place at the location of the sale.
The mortgagor is entitled to redeem the premises at any time prior to the sale by paying the full amount due mortgagee plaintiff, including all costs and expenses of sale.
Other terms to be announced at the time of the sale. Inquiries to auctioneer or mortgagee’s counsel.
Sale to be conducted by Vermont licensed auctioneer: Thomas Hirchak, The Thomas Hirchak Company, 1878 Cadys Falls Road, Morrisville, Vermont 05661; 802-888-4662 or 1-800-634-SOLD.
By: Elizabeth A. Glynn, Esq.
Ryan Smith & Carbine, Ltd.
PO Box 310
Rutland, VT 05702
Attorney for Mortgagee/ Plaintiff
5/27, 6/3, 6/10, 6/17 ….
More Appeared in: Bennington Banner on 05/27/2013 and 06/03/2013[text-blocks is=1058]