Commercial Property

Selling Price
PUBLIC AUCTION
Period for Sale
Immediately
Number of Employees
0

NOTICE OF PUBLIC AUCTION
RE: PROPERTY LOCATED AT MAIN ROAD (ROUTE 10) PORTUGAL COVE SOUTH, NL

TAKE NOTICE that under and by virtue of the provisions of section 5, Chapter C-34 of the Revised Statutes of Newfoundland & Labrador, 1990, known as the Conveyancing Act, a Public Auction will be held at the offices of: ROSE VAN DRIEL, 2 Baird’s Cove, St. John’s, NL, A1C 6M9 on Friday, the 31st day of March, 2017, at 2:00 p.m., to auction the premises situate and being at Main Road (Route 10), Portugal Cove South, Newfoundland and Labrador, and formerly known as J & K Convenience & Cafe. The sale is being made to satisfy an amount due on a mortgage pertaining to the premises more particularly described in an Indenture of Mortgage dated August 30, 2013 and registered on September 4, 2013, at registration No. 613435 in the Registry of Deeds for the Province of Newfoundland and Labrador, and a Deed of Further Charge dated September 1, 2014, and registered on September 25, 2014, at registration No. 671140.

TERMS OF SALE

1. Highest or any bid not necessarily accepted. Bids may be placed by telephone, fax or e-mail at the time of the auction.
2. Five per cent (5%) of the purchase price to be paid immediately by cash or certified cheque. The solicitors for the mortgagee will provide those making bids by telephone, fax or e-mail with the information required to make the necessary arrangements.
3. Remainder due on execution of conveyance.
4. Completion of transaction within thirty (30) days of sale.
5. The mortgagee reserves the right to place a reserve bid, and to bid at the auction.
6. Further particulars may be obtained from the solicitors for the mortgagee, including terms of sale required by the mortgagee.