NOTICE OF RESERVED PUBLIC AUCTION/TENDER

21 Drovers Heights, Portugal Cove - St. Philips, NL

TAKE NOTICE

that under and by virtue of the provisions of the Conveyancing Act, R.S.N.L. 1990, c. C-34, an auction will be held at the office of Curtis, Dawe Lawyers, 11th Floor, Fortis Building, 139 Water Street, St. John’s, Newfoundland and Labrador, on October 30, 2017 at 2:30 P.M., local time, to auction land(s) and premises consisting of and situate at 21 Drovers Heights, Portugal Cove - St. Philips, Newfoundland and Labrador, the said lands being more particularly described in an Indenture of Mortgage registered on June 10, 2016, as Registration No. 768767, of the Registry of Deeds for Newfoundland and Labrador. The auction will be held to satisfy an amount due under the hereinbefore described mortgage on the lands and premises described above. Tenders will also be accepted for the property at the office of Curtis, Dawe Lawyers up to 2:30 P.M., local time, on October 30, 2017.

TERMS OF AUCTION/SALE

The highest bidder/tenderer shall not necessarily be the purchaser. The successful bidder must pay a deposit of 10% of the purchase price by certified cheque payable to “Taylor Maclellan Cochrane (In Trust)” and submitted to the office of Curtis, Dawe on or before 4:00 pm on October 30, 2017. When submitting a tender, you must provide a sealed envelope clearly marked “Do Not Open/tender/21 Drovers Heights, Portugal Cove - St. Philips, NL” specifying the tender price with your deposit enclosed. The tenders, once received by Curtis, Dawe are irrevocable. The successful bidder/tenderer will pay the balance of the purchase price by certified cheque on completion of the transaction which is to take place within (30) thirty days of October 30, 2017. A deposit made by a successful bidder/tenderer will be deemed a cash deposit or will be forfeited as liquidated damages if the purchase is not completed by the bidder/tenderer. The Mortgagee reserves the right to bid at the auction, to reject any and all bids or tenders and to reserve a decision on the highest bid or tender received. The sale is subject to cancellation and to prior sale or redemption by the Mortgagor(s). Further information with respect to the property and the bid/tender process may be obtained from the undersigned solicitors for the Mortgagee.