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COMMON PLEAS COURT
of SUMMIT COUNTY, OHIO

Full text of Legal Notice

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SHERIFF'S SALE

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Wilmington Trust, NA, as Trustee

vs.

Exchange Housing LLC, et al.

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By virtue of an Order of Sale No. CV2018 10 4319 to me directed from the Court of Common Pleas, of Summit County, Ohio, I, STEVE M. BARRY, Sheriff of said County, will offer for sale at Public Venue, at the West door of the Court House, in Akron, on

 

FRIDAY, THE 14TH DAY

OF FEBRUARY, A.D., 2020

 

at 10:00 o'clock A. M. of said day, the following described Lands and Tenements, to-wit:

 

67-56701 & 67-63725

Situated in the City of Akron, County of Summit and State of Ohio and known as being part of Original Lot I in Tract 8, formerly Portage Township, a part of vacated East Cedar Street and East Chestnut Street, vacated by City of Akron Ordinance 1916-5278 and a part of Lots 139 thru 143, inclusive and Lots 258 thru 262, inclusive, of the South Akron Allotment as recorded in the Transcribed Records, Page 4 of the Summit County Records of Plats and a part of vacated South Broadway, vacated by Vacation Plat I, Slide 370, City of Akron Ordinance No. 549-1989 and part of a vacated unnamed alley, vacated by Vacation and Lot Consolidation for Exchange Housing LLC Plat recorded in Reception No. 55940928 and re-recorded in Reception No. 55945590 of Summit County Records, and more fully described as follows:

Beginning at the point of intersection of the Southerly line of East Exchange Street, 99 feet wide and the original Easterly line of South Broadway, originally 99 feet wide, which point is also known as being the most Northerly corner of said Lot 139, said point also being a Northwesterly corner of a strip of land conveyed to City of Akron Department of Transportation for highway purposes in Deed Volume 7453, Page 986 of the Summit County Deed Records; thence along the Westerly line of land so conveyed to the City of Akron Department of Transportation, South 27 deg. 10' 27" West, said line also being the Southerly line of East Exchange Street, a distance of 0.75 feet to a point; thence along the Southerly line of land so conveyed to the City of Akron Department of Transportation and the Southerly line of East Exchange Street, South 62 deg. 56' 36" East, a distance of 125.97 feet to an angle point therein; thence continuing along said line of land so conveyed to the City of Akron Department of Transportation and the Southerly line of East Exchange Street, South 26 deg. 36' 07" West, a distance of 3.75 feet to an angle point therein; thence continuing along said line of land so conveyed to the City of Akron Department of Transportation and the Southerly line of East Exchange Street, South 63 deg. 23' 53" East, a distance of 37.08 feet to a point on the Westerly line of an unnamed alley, width varies, as recorded in Instrument Number 55333472 of Summit County Records of Plats; thence along the Westerly line of said unnamed alley South 22 deg. 49' 19" West, a distance of 24.70 feet to a point of curvature therein; thence continuing along said Westerly line of unnamed alley along the arc of a curve deflecting to the right, a distance of 219.95 feet, said curve having a radius of 4109.37 feet, a tangent of 110.00 feet and a chord which bears South 24 deg. 21' 19" West, a distance of 219.92 feet to a point of tangency therein; thence continuing along said Westerly line of unnamed alley South 25 deg. 53' 19" West, a distance of 274.16 feet to an angle point therein; thence South 63 deg. 49' 09" East, a distance of 5.91 feet to a point; thence South 23 deg. 40' 38" West, a distance of 71.53 feet to a point; thence South 25 deg. 31' 05" West, a distance of 102.85 feet to a point; thence South 29 deg. 58' 50" West, a distance of 97.59 feet to a point on the aforesaid centerline of vacated East Chestnut Street; thence along said centerline of vacated East Chestnut, North 63 deg. 02' 45" West, a distance of 202.40 feet to a point on the Easterly line of South Broadway Street according to the aforesaid vacation plat of part of South Broadway as recorded in Vacation Plat I, Slide 370, Ordinance No. 549-1989, said point being 37.50 measured by perpendicular distance from the centerline of said South Broadway; thence along said Easterly line of South Broadway bearing North 27 deg. 10' 27" East, a distance of 794.49 feet to its intersection with the Southerly line of aforesaid East Exchange Street; thence along said Southerly line of East Exchange Street bearing South 63 deg. 23' 53" East, a distance of 12.00 feet to the point of beginning and containing 3.5115 acres of land according to a survey dated November 06, 2012, by Matthew C. Neff, Ohio Professional Surveyor No. 7315, of the M. Neff Design Group, be the same more or less but subject to all legal highways. Being further described in Vacation and Lot Consolidation for Exchange Housing LLC Plat, recorded in Reception No. 55940928 and re-recorded in Reception No. 55945590 of Summit County Records.

 

Property located at: 80 E. Exchange Street, Akron, OH 44308.

Property appraised at: Twenty-seven Million Dollars ($27,000,000.00). Property cannot be sold for less than 2/3 of the appraised value.

TERMS OF SALE: $10,000.00 deposit in cash, certified check or bank check payable to the Sheriff of Summit County, Ohio, to be tendered at sale at the time of acceptance of the bid. The purchaser shall be required to pay interest at the rate of ten percent (10%) on the unpaid balance of the bid amount, unless paid within eight (8) days after the date of sale. The entire balance of the purchase price shall be paid within 30 days after the filing of the Confirmation Entry.

AND if this sale results in a NO BID/NO SALE and remains unsold after this first sale, then this property shall be offered again at a second sale and shall be sold to the highest bidder without regard to the minimum bid requirement in section 2329.20, at 10:00 a.m. and at the same place on the 28th day of February, 2020. (ORC 2329.52(B), ORC 2329.26 (2)(a)(v))

The purchaser shall be responsible for those costs, allowances and taxes that the proceeds of the sale are insufficient to cover. (ORC 2329.52(B))

The Sheriff's Office nor any of its affiliates have access to the inside of said property, at any time. (This includes appraisals for bank loans.)

STEVE M. BARRY

Sheriff of Summit County, Ohio.

MARK BERNLOHR, 50 S. Main Street, #201, Akron, OH 44308, Attorney for Plaintiff.

Sheriff's Office, Akron, Ohio, 3rd day of January, 2020.

Jan 16, 23, 30, 2020

19-02579

Result of Sale: Sold to Pltf for $18,000,000.00

 

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