NOTICE OF SUCCESSOR TRUSTEE'S SALE
On August 30, 2007, at 9:00 a.m., Pacific Standard Time, at 419 N. Second Avenue, Sandpoint ID 83864, LISA A. HOLMES, a member of the Idaho State Bar and Successor Trustee to PIONEER TITLE COMPANY OF KOOTENAI COUNTY, will sell at public auction, to the highest bidder, for cash, in lawful money of the United States of America, all payable at the time of sale, the following parcel of real property located in the County of Bonner, State of Idaho, to wit:
SEE EXHIBIT "A" ATTACHED HERETO AND BY REFERENCE FULLY INCORPORATED HEREIN.
The Successor Trustee has no knowledge of a more particular description of the above-referenced real property, but for purposes of complying with Idaho Code section 60-113, the Successor Trustee has been informed that Bonner County Assessor's Parcel No. RP54N05W260301A is sometimes associated with said real property.
Said public auction sale shall be made without covenant, guarantee, representation or warranty of any kind regarding title, possession, encumbrances or condition. Said public auction shall be conducted to satisfy obligation secured by, and pursuant to the power of sale conferred in the Deed of Trust executed by LARRY SPENCER, a married man dealing in his sole and separate property, as Grantor(s)/Trustor(s), PIONEER TITLE COMPANY OF KOOTENAI COUNTY, as original Trustee named in said Deed of Trust, for the benefit and security of NORMAN L. GISSEL, as Beneficiary, dated February 18, 2005 and recorded on February 24, 2005, as Instrument No. 670875 in the records of the County Recorder for the County of Bonner, State of Idaho.
THE ABOVE NAMED GRANTOR(S)/TRUSTOR(S) ARE NAMED TO COMPLY WITH IDAHO CODE SECTION 45-1506(4)(a). NO REPRESENTATION IS MADE THAT SAID GRANTOR(S)/TRUSTOR(S) IS(ARE), OR IS(ARE) NOT PRESENTLY RESPONSIBLE FOR THIS OBLIGATION.
The default for which this public auction sale is to be made is the failure to:
1. Make the monthly installment payments under a Promissory Note of even date with and secured by the above-mentioned deed of trust, in the sum of FIVE HUNDRED SEVENTY-NINE AND NO/100'S DOLLARS ($579.00) per month for the month(s) of January, February, March, April, May, June, July, August, September, October, November and December, 2006, January, February, March and April, 2007;
2. Pay the real property taxes and assessments for the year 2005, in the principal sum of FORTY-EIGHTY AND 14/100'S DOLLARS ($48.14) and for the year 2006 in the principal sum of TWENTY-FIVE AND 82/100'S DOLLARS ($25.82), together with interest and penalties accrued or to accrue up to the time of payment.
As of April 13, 2007, the principal balance currently owing on the obligation secured by the aforementioned deed of trust is FIFTY-FOUR THOUSAND SEVEN HUNDRED FIFTY-FIVE AND 93/100'S DOLLARS ($54,755.93); accrued interest, at a per annum rate of TEN PERCENT (10%) in the amount of FOUR THOUSAND NINE HUNDRED FIVE AND 53/100'S DOLLARS ($4,905.53), for a total due, as of the aforementioned date, of FIFTY-NINE THOUSAND SIX HUNDRED SIXTY-ONE AND 46/100'S DOLLARS ($59,661.46), exclusive of all delinquent taxes, and any interest or penalties thereon. Said delinquent amount continues to accrue interest, late charges and/or fees, escrow fees and/or charges, foreclosure costs and attorneys fees and outstanding taxes and penalties, if any. All delinquencies are now due in full together with all late charges, advances to protect the security, and fees and costs associated with this foreclosure sale.
The Beneficiary elects, and has directed the Successor Trustee, to sell or cause the aforementioned parcel of real property to be sold to satisfy said obligations. The sale shall be governed by the provisions contained in Title 45, Chapter 15, Idaho Code. The Successor Trustee's authority herein is evidenced by an appointment of successor Trustee recorded as Instrument No. 727617 in the records of Bonner County, State of Idaho.
Dated this 25 day of April, 2007.
/signed/
LISA A. HOLMES, SUCCESSOR TRUSTEE
HOLMES LAW OFFICE, P.A.
8109 N. WAYNE DRIVE
P.O. BOX 569
HAYDEN ID 83835-0569
TELEPHONE: (208)762-0100
FAX (208)762-0199
EXHIBIT "A"
PAGE 1 OF 1
All that portion of the East Half of the East Half of the Northwest Quarter of the Northeast Quarter and all that portion of the Northeast Quarter of the Northeast Quarter of Section 26, Township 54 North, Range 5 West, Boise Meridian, Bonner County, Idaho, lying South of the railway right-of-way as it existed May 24, 1966;
EXCEPT the East 600 feet of said Northeast Quarter of the Northeast Quarter
ALSO EXCEPT the County Road right-of-way lying adjacent to the Southerly boundary of the said railroad right-of-way.
Legal SNP# 8711
June 2, 9, 16, 23, 2007