NOTICE OF DEFAULT AND FORECLOSURE SALE WHEREAS, on June 30, 1987, a certain Deed of Trust was executed by Benson Elderly Housing Inc. as grantor in favor of Secretary of Housing and Urban Development as beneficiary and Robert W. Fields as trustee, and was recorded on June 30, 1987 in Book 1057, Page 514 in the office of the Register of Deeds of Johnston County, North Carolina; and WHEREAS, the Deed of Trust was authorized by the United States Secretary of Housing and Urban Development (the Secretary) pursuant to Section 202 of the National Housing Act of 1959, 12 U.S.C. § 1701q, for the purpose of providing multifamily housing to the elderly; and WHEREAS, a default has been made in the covenants and conditions of the Deed of Trust in that the payment due on October 1, 2017, was not made and remains wholly unpaid as of the date of this notice, and no payment has been made sufficient to restore the loan to currency; and WHEREAS, by virtue of this default, the Secretary has declared the entire amount of the indebtedness secured by the Deed of Trust to be immediately due and payable; NOW THEREFORE, pursuant to powers vested in me by the Multifamily Mortgage Foreclosure Act of 1981, 12 U.S.C. 3701 et seq., by 24 CFR Part 27, and by the Secretary’s designation of me as Foreclosure Commissioner, notice is hereby given that on Tuesday, August 20, 2019 at 2:00 PM local time, all real and personal property at or used in connection with the following described premises located at 205 Evergreen Lane, Smithfield, NC 27577 (Benson Elderly Housing), a description of said property being attached hereto, will be sold at Public auction to the highest bidder: The sale will be held on the courthouse steps, or other location designated by the Johnston County Clerk of Court for conducting such foreclosure sales, at the Johnston County Courthouse, located at 207 E. Johnston Street, Smithfield, NC 27577. The successful bidder (other than the Secretary) will, pursuant to 12 U.S.C. 3706 (b) (2) (A), be required to operate the Project in accordance with the terms, as appropriate, of Section 202 of the National Housing Act of 1959, 12 U.S.C. § 1701q. The successful bidder (other than the Secretary) will be required to execute a Use Agreement with the Secretary which contains the terms and conditions under which the Project must be operated. The Commissioner’s deed to the successful bidder (other than the Secretary) must receive previous participation clearance in accordance with procedures set out in 24 C.F.R. 200.210 et seq. Additional information about this sale, including the terms under which the sale is being conducted, is provided in a bid package which is available from: U.S. Department of Housing And Urban Development 801 Cherry Street, Unit #45 Fort Worth. Texas 76109 Phone No. 817-978-5810 Fax No. 817-978-6018 E-mail: Farla.G.Knight@hud.gov All parties who are interested in bidding at the sale must obtain a bid package. The bid package contains sample copies of documents that the purchaser must deliver at the sale and copies of documents that the purchaser must execute at closing. The bid package also describes, among other things, the procedure for prorating real estate taxes, and the purchaser’s obligations after the sale. When making their bid, all bidders except the Secretary must submit a deposit totaling $10,000 in the form of a certified check made out to the Secretary of HUD. The deposit is nonrefundable. The remainder of the purchase price must be delivered within 30 days of the sale or at such other time as the Secretary may determine for good cause shown, time being of the essence. This amount, like the bid amount in cash. The successful bidder will pay all conveyance fees, all real estate and other taxes that are due on or after the date of closing and all other costs associated with the transfer of title. Before being accepted as the purchaser. The High Bidder must deliver to the Commissioner, at the time of sale, an executed Acknowledgement by Bidder form. In this form, the high bidder acknowledges that he understands the terms of the sale and the obligations to which he will be bound after the sale. The Secretary may grant an extension of time within which to close. All extensions will be for 30 days, and purchaser must pay a fee, which is the greater of 1.5% of the purchase price or HUD’s current holding cost. The extension fee shall be paid in the form of a certified or cashiers check made payable to the Secretary of Housing and Urban Development. If the high bidder closes the sale prior to the expiration of any extension period, the unused portion of the extension fee shall be applied toward the amount due at closing. If the high bidder is unable to close the sale within the required period, or within any extensions of time granted by the Secretary, the high bidder’s deposit will be forfeited, and the Commissioner may offer the Project to the second highest bidder for an amount equal to the highest price offered by that bidder. All other terms of the sale would remain the same. If the second highest bidder rejects the Commissioner’s offer, no further offers will be made and the sale will be canceled. Dated: 6/27/19 Richard R. Foust, Esq. Foreclosure Commissioner Law Office of Richard R. Foust, P.A. 204 Muirs Chapel Road, Suite 102 Greensboro, NC 27410 Ph. No. 336-834-0510 Fax No. 336.834.0160 SCHEDULE ”A” DESCRIPTION OF SMITHFIELD ELDERLY HOUSING SMITHFIELD TOWNSHIP, JOHNSTON COUNTY BEGINNING AT A FOUND IRON PIPE, SAID POINT OF BEGINNING BEING THE WESTERNMOST CORNER OF LOT. NO. 131 OF ADDITION NO. 5 OLD FARM ACRES AS RECORDED IN PLAT BOOK 21, PAGE 83, JOHNSTON COUNTY, NORTH CAROLINA; THENCE RUNNING WITH THE SOUTHERN LINE OF LOT NO. 131 SOUTH 67 DEGREES 56 MINUTES 37 SECONDS EAST, 156.84’ TO A FOUND IRON PIPE, THE SOUTHERNMOST CORNER OF LOT NO. 131; THENCE RUNNING WITH THE END OF EVERGREEN LANE SOUTH 71 DEGREES 22 MINUTES 53 SECONDS EAST, 65.14’ TO A FOUND IRON PIPE, THE WESTERNMOST CORNER OF LOT NO. 130 OF AFORESAID OLD FARM ACRES; THENCE RUNNING WITH THE SOUTHERN LINE OF LOT NO. 130 SOUTH 67 DEGREES 58 MINUTES 08 SECONDS EAST, 62.86’ TO A POINT IN THE SOUTHERN LINE OF LOT NO. 130; THENCE A NEW LINE SOUTH 22 DEGREES 07 MINUTES 16 SECONDS WEST, 615.28’ TO A POINT; THENCE ANOTHER NEW LINE NORTH 82 DEGREES 46 MINUTES 08 SECONDS WEST, 294.61’ TO A POINT; SAID POINT BEING NORTH 22 DEGREES 07 MINUTES 16 SECONDS EAST, 31.68’ FROM A FOUND IRON PIPE, A CORNER OF THE BOOTH BARBOUR ESTATE; THENCE RUNNING WITH THE EASTERN BOUNDARY OD SAID BARBOUR ESTATE; THENCE RUNNING WITH THE EASTERN BOUNDARY OF SAID BARBOUR; THENCE RUNNING WITH THE EASTERN BOUNDARY OF SAID BARBOUR ESTATE NORTH 22 DEGREES 07 MINUTES 16 SECONDS EAST, 686.73’ TO THE POINT OF BEGINNING AND CONTAINING 4.251 ACRES MORE OR LESS.