MORTGAGE
FORECLOSURE
SALE NOTICE
Default having been made in the payment of the indebtedness secured by that certain Commercial Mortgage from Robert M. Ritchea (herein referred to as “Grantor” or “Mortgagor”) to SunTrust Bank (herein referred to as “SunTrust”), dated March 28, 2008, and recorded in the Office of the Judge of Probate for Lee County, Alabama, at Mortgage Book 3553, Page 256, et seq., the undersigned SunTrust (“Mortgagee”) as Mortgagee under and by virtue of the power of sale contained in said Mortgage, will sell at public outcry to the highest bidder for cash on the steps of the main entrance of the Lee County, Alabama Courthouse located at 2311 Gateway Drive, Opelika, Alabama 36801 on July 19, 2016 during the legal hours of sale, the following real estate and all fixtures thereon situated in Lee County, Alabama, to wit:
BUILDING 200, of the Survey of RIVERCHASE CENTRE BUSINESS CONDOMINIUM, lying in part of Section 27, Township 18 North, Range 30 East, Lee County, Alabama, as shown upon a plat of survey prepared by A. B. Moon, Jr., R.L.S. Ala. Reg. No. 1927, dated February 7, 2006, recorded in Condo Plat Book 3, Page 163, in the Office of the Judge of Probate of Lee County, Alabama, and according to the Declaration of Condominium for Riverchase Centre Business Condominium, dated February 21, 2006, and recorded in Volume 8001, Page 910, aforesaid records, as amended or supplemented. Together with an undivided interest in the Common Elements. Subject to a reduction in said interest if, and when additional property is added to the Condominium.
a. All zoning ordinances and regulations applicable thereto, for so long, as said ordinances and regulations remain in force and effect.
b. All covenants, conditions, restrictions, easements, affirmative obligations, charges, liens and other obligations created or imposed by that certain Declaration of Condominium for Riverchase Centre Business Condominium, dated February 21, 2006, and recorded in Volume 8001, Page 910, in the Office of the Judge of Probate of Lee County, Alabama.
c. No building or other improvement, including, without limitation, driveways, walkways, walls, fences, landscaping, or any other structure or object, the placement of which upon the above described property may affect the appearance thereof (hereinafter referred to collectively as “Structure”), shall be commenced, installed, constructed, erected or maintained upon said property, and no addition to, change in or alteration of any kind to any Structure shall be commenced or made, unless and until complete final plans and specifications, in such form and containing such information as may be reasonably required by the developer, Warr-Jordan, LLC, have been submitted to and approved by Warr-Jordan, LLC. Without limiting the generality of the foregoing, such plans and specifications shall include front, rear and side elevations of all buildings, landscaping plans for all entrances to the proposed development, and sufficient information and detail as to the location or orientation of all buildings and other Structures on said property, the landscaping thereon, and the exterior appearance (including, but not limited to, color schemes) of all Structures thereon. Within thirty (30) days after receipt by Warr-Jordan, LLC of such final plans and specifications, Warr-Jordan, LL shall either approve or reject the plans in writing. If Warr-Jordan, LLC does not reject such final plans and specifications in writing within such 30-day period, then Warr-Jordan, LLC shall be deemed for all purposes to have approved such final plans and specifications. After approval of such final plans and specifications by Warr-Jordan, LLC, Robert M. Ritchea shall not deviate therefrom without the further written approval by Warr-Jordan, LLC. The foregoing provision shall be a covenant running with said successors-in-title and assigns, for a period of twenty (20) years from the date hereof. For purposes of the foregoing, the term Warr-Jordan, LLC shall include Warr-Jordan, LLC and its successors and assigns.
d. Warr Development Co., Inc. reserves an easement over that area-shown as “20′ Sanitary Sewer Easement” for the purpose of installation and maintenance of a sewer line to service Warr Development Co., Inc.’s adjacent property, which easement shall be for the benefit of both Warr Development Co., Inc. and it’s successors in title.
e. Robert M. Ritchea covenants that it will not sell or develop the Property for any use other than an office us for a period of five (5) years from the date of this instrument. This restriction shall constitute a covenant running with the land.
The property described is subject to all liens, encumbrances and transfers of record and is offered for sale strictly “where is, as is.”
This sale is made for the purpose of paying the indebtedness secured by said Mortgage as well as any expenses of foreclosure. SunTrust expressly reserves the right to credit bid at said sale in its sole discretion.
SunTrust Bank – Mortgagee
Eric J. Breithaupt
STITES & HARBISON, PLLC
2800 SunTrust Plaza
303 Peachtree Street, NE
Atlanta, GA 30308
404.739.8974 (tel)
404.332.0274 (fax)
ebreithaupt@stites.com
Legal run 6/22/16, 6/29/16 & 7/6/16
