SUBSTITUTE TRUSTEE'S SALE
WHEREAS, MZEE, LLC, a Tennessee
limited liability company,
executed that certain Deed of
Trust, Security Agreement and
Fixture Filing dated October 31,
2006, of record in Book T894,
Page 374, Register's Office of
Loudon County, Tennessee, as
corrected in Book T899, page
459, as amended by that certain
First Amendment to Deed of
Trust, Security Agreement, and
Fixture Filing dated November
25, 2008, of record in Book
T998, Page 973, and that certain
Second Amendment to Deed of
Trust and Loan Documents dated
December 24, 2008, of record in
Book 1001, Page 191, and that
certain Third Amendment to Deed
of Trust and Loan Documents
dated March 10, 2009, of record
in Book T1012, Page 408, and
that certain Fourth Amendment to
Deed of Trust and Loan Documents
dated May 8, 2009, of record in
Book T1021, Page 269, and that
certain Fifth Amendment to Deed
of Trust and Loan Documents
dated September 4, 2009, of
record in Book T1039, Page 622,
and that certain Sixth Amendment
to Deed of Trust and Loan
Documents dated September 4,
2009, of record in Book T1057,
Page 521, all recorded in the
Register's Office of Loudon
County, Tennessee, to secure
indebtednesses evidenced by (1)
Promissory Note in the original
principal amount of
$15,450,000.00 held by Tennessee
Farmers Life Insurance Company
(the "Original Note"); (2)
Fourth Amended and Restated Note
Demand Promissory Note in the
original principal amount of
$9,744,652.22 held by Tennessee
Farmers Life Insurance Company;
and (3) Equity Conversion Notes
in the amounts (a) $4,000,000
held by Tennessee Farmers Life
Insurance Company; (b)
$4,000,000 held by Tennessee
Farmers Assurance Company; and
(c) $5,000,000 held by Tennessee
Rural Health Improvement
Association, (hereinafter
referred to as the "Deed of
Trust"); and
WHEREAS, TETRA INVESTMENT
GROUP 26, LLC, a Virginia
limited liability company,
assumed the Original Note by
Assumption Agreement and
Modification of Loan Documents
recorded in Book T960, page 87,
Register's Office for Loudon
County, Tennessee, and
subsequently executed the
Fourth Amended and Restated Note
Demand Promissory Note and
Equity Conversion Notes
described herein, all secured by
the Deed of Trust. WHEREAS,
Tennessee Farmers Life Insurance
Company, Tennessee Rural Health
Improvement Association and
Tennessee Farmers Assurance
Company (collectively, the
"Holders") are the owners and
holders of the indebtedness
secured by the Deed of Trust;
and WHEREAS, default has been
made in the payment of the
aforesaid indebtedness and in
the performance of the covenants
made in the Deed of Trust, by
reason of which the entire
balance owing thereunder has
been declared to be due and
payable, said default
continuing; and WHEREAS, the
aforesaid Trustee named in the
Deed of Trust has been replaced
by Bank by instrument recorded
in the aforesaid register's
office, under which instrument
Bank has appointed Jack F. King,
Jr., a resident of Davidson
County, Tennessee, as Substitute
Trustee, with all the rights,
powers and privileges granted
the Trustee named in the Deed of
Trust;
NOW, THEREFORE, by virtue of
the power and authority vested
in him as said Substitute
Trustee under the Deed of Trust,
at the request of Bank and for
the purpose of effecting payment
and satisfaction of the
indebtedness, including
principal, interest, attorneys'
fees and all other costs of
sale, Substitute Trustee or his
agent or designated
representative, will on Tuesday,
July 20, 2010, commencing at
1:00 PM or such other date and
time as Substitute Trustee may
publicly announce at that time,
offer for sale at public outcry
to the highest and best bidder
for cash at the front door of
the Loudon County Courthouse in
the City of Loudon, Tennessee,
in bar of all equities of
redemption, homestead, dower and
all other rights and exemptions
of every kind, including
statutory rights of redemption
under T.C.A. § 66-8-101, all of
which are waived pursuant to the
terms of the Deed of Trust, the
following described real estate:
BEING a parcel of land located
in the Fifth (5th) Civil
District of Loudon County,
Tennessee, lying on the south
side of Highway 321. Further
described as J. H. Eldridge
property as recorded in Warranty
Deed Book 3, page 238, currently
shown as Parcel 200.00 of Tax
Map 15, being more specifically
described as follows:
BEGINNING at an iron rod
found in the western
right-of-way line of Town Creek
Road West, common corner with
Bill Summit. The point of
Beginning further described as
South 42 deg. 55 min. 55 sec.
West, 219.53 feet from the
intersection of center lines of
Highway 321 and Town Creek Road
West; THENCE, along the western
right-of-way line of Town Creek
Road West the following 10
calls, South 04 deg. 42 mins. 01
sec. West, 168.02 feet to an
iron rod found; THENCE, South 06
deg. 03 mins. 19 sec. East,
308.41 feet to an iron rod
found; THENCE, 302.87 feet along
a curve to the left having a
radius of 1087.56 feet and a
chord bearing and distance of
South 14 deg. 02 mins. 00 sec.
East, 301.89 feet to an iron rod
found; THENCE, 251.52 feet along
a curve to the right having a
radius of 532.74 feet and a
chord bearing and distance of
South 08 deg. 29 min. 10 sec.
East, 249.19 feet to an iron rod
found; THENCE, South 05 deg. 02
min 21 sec. West, 35.70 feet to
an iron rod found; THENCE,
250.84 feet along a curve to the
left having a radius of 809.95
feet and a chord bearing and
distance of South 03 deg. 49
min. 59 sec. East, 249.84 feet
to an iron rod found; THENCE,
South 12 deg. 42 min. 18 sec
East, 135.65 feet to an iron rod
found; THENCE, South 09 deg. 23
min. 49 sec. East, 111.15 feet
to an iron rod found; THENCE,
South 05 deg. 59 min. 18 sec.
East, 168.46 feet to an iron rod
found; THENCE, South 06 deg. 21
min. 13 sec. East, 95.87 feet to
an iron rod found, common corner
with Gerald Sharp; THENCE,
leaving the said right-of-way
line, along the common line with
Sharp, South 86 deg. 44 min. 26
sec. West, 172.28 feet to a
point in the center line of Town
Creek; THENCE, along the center
line of Town Creek the following
52 calls, South 17 deg. 03 min.
35 sec. West, 20.65 feet to a
point; THENCE, South 77 deg. 46
min. 54 sec. West, 48.32 feet to
a point; THENCE, South 04 deg.
20 min. 17 sec. East, 14.34 feet
to a point; THENCE, South 02
deg. 50 min. 36 sec. West, 39.31
feet to a point; THENCE, South
17 deg. 59 min. 35 sec. West,
126.19 feet to a point; THENCE,
South 56 deg. 19 min. 46 sec.
West, 36.53 feet to a point;
THENCE, South 26 deg. 18 min. 35
sec. West, 24.90 feet to a
point; THENCE, South 36 deg. 01
min. 14 sec. East, 69.45 feet to
a point; THENCE South 50 deg. 16
min. 40 sec. West, 42.23 feet to
a point; THENCE, North 57 deg.
18 min. 54 sec. West, 46.19 feet
to a point; THENCE, South 03
deg. 20 min. 43 sec. West, 38.18
feet to a point; THENCE, South
33 deg. 51 min. 43 sec. East,
31.18 feet to a point; THENCE
South 19 deg. 35 min. 31 sec.
East, 81.95 feet to a point;
THENCE South 07 deg. 58 min. 12
sec. East, 77.12 feet to a
point; THENCE, South 10 deg. 11
min. 08 sec. West, 23.19 feet to
a point; THENCE, South 28 deg.
48 min. 25 sec. East, 83.41 feet
to a point; THENCE, South 09
deg. 05 min. 45 sec. West, 82.91
feet to a point; THENCE, South
53 deg. 38 min. 00 sec. West,
42.20 feet to a point; THENCE,
South 83 deg. 11 min. 46 sec.
West, 121.19 feet to a point;
THENCE, South 64 deg. 44 min. 47
sec. West, 41.07 feet to a
point; THENCE, South 25 deg. 57
min. 29 sec. West, 71.31 feet to
a point; THENCE, South 65 deg.
57 min. 18 sec. West, 72.28 feet
to a point; THENCE, South 36
deg. 08 min. 39 sec West, 66.74
feet to a point; THENCE, South
05 deg. 03 min. 34 sec. West,
79.68 feet to a point; THENCE
South 58 deg. 58 min. 30 sec.
West, 39.64 feet to a point;
THENCE, South 17 deg. 23 min. 02
sec. West, 53.27 feet to a
point; THENCE, South 33 deg. 27
min. 47 sec. West, 90.60 feet to
a point; THENCE, South 35 deg.
18 min. 29 sec. West, 89.15 feet
to a point; THENCE, South 47
deg. 43 min. 19 sec. East, 20.25
feet to a point; THENCE, South
10 deg. 08 min. 12 sec. East,
74.23 feet to a point; THENCE,
South 27 deg. 04 min. 21 sec.
West, 38.94 feet to a point;
THENCE, South 89 deg. 54 min. 05
sec. West, 74.47 feet to a
point; THENCE, South 51 deg. 10
min. 37 sec. West, 27.64 feet to
a point; THENCE, South 04 deg.
51 min. 29 sec. East, 35.46 feet
to a point; THENCE, South 18
deg. 02 min. 18 sec. West, 61.02
feet to a point; THENCE, South
68 deg. 37 min. 42 sec. West,
96.58 feet to a point; THENCE,
North 87 deg. 59 min. 30 sec.
West, 69.20 feet to a point;
THENCE, South 20 deg. 38 min. 29
sec. West, 33.74 feet to a
point; THENCE, South 14 deg. 55
min. 01 sec. East, 54.48 feet to
a point; THENCE South 06 deg. 20
min. 23 sec. East, 53.38 feet to
a point; THENCE, South 03 deg.
51 min. 11 sec. West, 77.62 feet
to a point; THENCE, South 15
deg. 17 min 52 sec. West, 91.60
feet to a point; THENCE, South
32 deg. 40 min. 04 sec. West,
65.64 feet to a point; THENCE,
South 56 deg. 53 min. 42 sec.
West, 46.42 feet to a point;
THENCE, South 25 deg. 26 min. 19
sec. West, 30.73 feet to a
point; THENCE, South 16 deg. 01
min. 46 sec. East, 62.77 feet to
a point; THENCE, South 11 deg.
15 min. 22 sec. West, 45.54 feet
to a point; THENCE, South 50
deg. 49 min. 55 sec West, 44.66
feet to a point; THENCE, South
07 deg. 23 min. 00 sec. West,
20.74 feet to a point; THENCE,
South 14 deg. 50 min. 37 sec.
West, 98.28 feet to a point;
THENCE, South 54 deg. 41 min. 53
sec. West, 28.63 feet to a
point; THENCE, South 24 deg. 44
min. 43 sec. West, 16.20 feet to
a point; THENCE, South 32 deg.
15 min. 46 sec. East, 17.91 feet
to a point; THENCE, leaving the
center line of Town Creek, South
53 deg. 17 min. 23 sec. West,
12.46 feet to an iron rod found,
common corner with the City of
Lenoir; THENCE, along the common
line with the City of Lenoir the
following 3 calls, South 53 deg.
14 min. 23 sec West, 1160.95
feet to an iron rod found;
THENCE, South 67 deg. 57 min. 38
sec. West, 203.96 feet to an
iron rod found; THENCE, South 56
deg. 39 min. 02 sec. West,
1226.61 feet to an iron rod
found in the western
right-of-way line of Old
Kingston Highway; THENCE, along
the said right-of-way line North
33 deg. 57 min. 51 sec. West,
796.81 feet to an iron rod
found; THENCE, North 38 deg. 24
min. 25 sec. West, 204.78 feet
to a P.K. nail found in the
southern right-of-way line of
Rolling Acres Drive; THENCE,
along the right-of-way line of
Rolling Acres Drive the
following 9 calls, North 45 deg.
44 min. 56 sec. East, 348.73
feet to an iron rod found;
THENCE, North 46 deg. 47 min. 24
sec. East, 123.09 feet to an
iron rod found; THENCE, North 56
deg. 23 min. 27 sec. East,
153.33 feet to an iron rod
found; THENCE, North 71 deg. 48
min. 20 sec. East, 255.87 feet
to an iron rod found; THENCE,
North 18 deg. 11 min. 41 sec.
West, 30.00 feet to an iron rod
found; THENCE South 71 deg. 48
min. 20 sec. West, 255.87 feet
to an iron rod found; THENCE,
South 56 deg. 46 min. 29 sec.
West, 163.78 feet to an iron
spike found; THENCE, South 46
deg. 47 min. 00 sec. West,
126.21 feet to an iron rod
found; THENCE, South 45 deg. 44
min. 51 sec. West, 346.19 feet
to an iron rod found in the
eastern right-of-way line of Old
Kingston Highway; THENCE, along
the said right-of-way line,
North 39 deg. 23 min. 44 sec.
West, 274.81 feet to an iron rod
found common corner with Harold
Brown; THENCE, along the common
line with Brown, North 47 deg.
36 min. 07 sec. East, 930.40
feet to a set stone found;
THENCE, North 15 deg. 59 min. 01
sec. West, 120.20 feet to an
iron rod found, common corner
with Northview Estates
Subdivision; THENCE, along the
common line with Northview
Estates the following 6 calls,
North 14 deg. 44 min. 10 sec.
West, 104.06 feet to an iron rod
found; THENCE, North 15 deg. 13
min. 36 sec. West, 110.26 feet
to an iron rod found; THENCE,
North 15 deg. 22 min. 32 sec.
West, 112.66 feet to an iron rod
found; THENCE, North 15 deg. 37
min. 37 sec. West, 112.84 feet
to an iron rod found; THENCE,
North 15 deg. 32 min. 57 sec.
West, 125.77 feet to an iron rod
found; THENCE, North 15 deg. 25
min. 49 sec. West, 705.45 feet
to an iron pipe found, common
corner with Asset Holdings;
THENCE, leaving the common line
with Northview Estates, along
the common line with Asset
Holdings, North 49 deg. 38 min.
44 sec. East, 282.25 feet to an
iron pipe found; THENCE, North
52 deg. 42 min. 21 sec. East,
444.60 feet to a steel bar
found; THENCE, North 52 deg. 11
min. 16 sec. East, 798.74 feet
to an iron rod found, common
corner with ADE of Knoxville;
THENCE, along the common line
with ADE, North 52 deg. 28 min.
50 sec. East, 197.40 feet to an
iron rod found; THENCE, North 49
deg. 52 min. 50 sec. East, 72.55
feet to an iron pipe found;
THENCE, North 52 deg. 08 min. 27
sec. East, 402.17 feet to an
iron rod found, common corner
with Spring Cress Realty;
THENCE, along the common line
with Spring Cress Realty, North
52 deg. 57 min. 33 sec. East,
978.18 feet to an iron rod
found, common corner with City
of Lenoir; THENCE, along the
common line with City of Lenoir,
North 53 deg. 20 min. 48 sec.
East, 537.20 feet to an iron rod
found; THENCE, North 55 deg. 31
min. 49 sec. East, 368.99 feet
to an iron rod found common
corner with Billy Summitt;
THENCE, along the common line
with Summitt, North 53 deg. 29
min. 26 sec. East, 231.48 feet
to an iron pipe found; THENCE,
South 36 deg. 13 min. 57 sec.
East, 244.07 feet to the point
of BEGINNING. Containing
11,642,390 square feet or
267.273 acres as shown on survey
prepared by Barge, Waggoner,
Sumner and Cannon, bearing file
no. 32751-02.
BEING the same property
conveyed to Tetra Investment
Group 26, LLC, a Virginia
limited liability company, by
Warranty Deed from MZEE, LLC, a
Tennessee limited liability
company, of record in Book D324,
Page 807, Register's Office for
Loudon County, Tennessee. This
is unimproved property located
on Highway 321 N, Lenoir City,
Tennessee. The Deed of Trust
recites title to the real estate
as unencumbered except as
provided above, but Substitute
Trustee will make no covenant of
seisin or warranty of title,
express or implied, and will
sell and convey by Trustee's
Quitclaim Deed as Substitute
Trustee only, subject to any
governmental zoning or
subdivision ordinances or
regulations and to liens and
encumbrances superior to the
Deed of Trust, if any, of record
in effect thereon and further
subject to all taxes and
assessments that are a lien
thereon. Further, the transfer
shall be "As Is" and without
warranty of any kind, express or
implied, as to the condition of
such property and the
improvements located thereon,
including merchantability or
fitness for particular purpose.
The right is reserved to adjourn
the day of sale to another date
and time certain without further
publication upon announcement at
the time set above and to sell
to the second highest bidder in
the event the highest bidder
does not comply with the terms
of the sale. The following
interested parties are
recordholders of an interest in
the above-described property by
virtue of the instrument
referenced below of record in
the Register's Office of Loudon
County, Tennessee. None This
22nd day of June, 2010. Jack F.
King, Jr. Miller & Martin PLLC
1200 One Nashville Place 150 4th
Avenue North Nashville, TN
37219 (615) 244-9270
Publication Dates: June 28,
2010 July 5, 2010 July 12, 2010
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