Two Fairmont Investment Properties

TERMS OF SALE: 

1. The Secured Party and the Successor Trustee have engaged Joe R. Pyle Complete Auction & Realty Service (the “Auctioneer”) to assist with the marketing of the Real Estate and the conduct of the Auction.  The Auction will consist of two (2) phases: (a) an Online Advance Bidding Period commencing immediately upon the issuance of this Notice of Successor Trustee’s Sale and continuing until the commencement of the Live Auction, and (b) a Live Auction to be conducted on Tuesday, December 1, 2026, commencing at 12:00 p.m., at the Marion County Courthouse, located at 219 Adams Street, Fairmont, West Virginia 26554 and simultaneously online at https://www.joerpyleauctions.com (the “Auctioneer’s Website”).  Bids placed during the Online Advance Bidding Period and bids made during the Live Auction, whether in-person or online, will be combined in a single Auction.  

2. Any person wishing to submit a bid online, whether during the Online Advance Bidding Period or during the Live Auction, must register on the Auctioneer’s Website prior to bidding. Any questions regarding the online bidding process shall be directed to the Auctioneer at (304)-592-6000. 

3. Each advance online bid constitutes an irrevocable offer to purchase the Real Estate at the Contract Sale Price (as that term is defined below) in accordance with these Terms of Sale. 

4. Neither the submission of an advance online bid nor the display of a “high bid” or any indication of the status of any bidder as the “current high bidder” on the Auctioneer’s Website shall constitute acceptance of any bid by the Successor Trustee, and do not result in a sale.  Bidding shall not close, and no sale shall occur, before the conclusion of the Live Auction. 

5. At the commencement of the Live Auction, the highest advance online bid will be        announced and will serve as the starting bid at the Live Auction (the “Live Auction Opening Bid”.  The Auctioneer will then receive bids in-person and online in $X increments. A bidder who submitted an advance online bid may participate in the Live Auction.   

6. The Auction shall conclude, and the sale of the Real Estate shall be complete, upon the Successor Trustee’s acceptance of the highest bid at the Live Auction, as signified by the fall of the hammer, the announcement “sold,” or other announcement calculated to inform all bidders that the Auction has concluded.  

7. The party submitting the highest bid accepted by the Successor Trustee, whether such party is bidding in-person or online, shall be the successful bidder and shall be bound to purchase the Real Estate at the Contract Sale Price in accordance with these Terms of Sale. 

8. If the successful bidder is an online bidder, the successful bidder shall be (a) notified by email promptly after the Auction, (b) execute and return the Memorandum of Sale described in item 11 of these Terms of Sale within the time prescribed by such item 11, and (c) deliver the buyer’s premium as provided in item 9 and the non-refundable deposit as provided in item 10 of these Terms of Sale within the times prescribed by such items 9 and 10, respectively. 

9. A buyer’s premium equal to ten percent (10%) of the successful bid amount will be added to the successful bid amount to determine the contract sale price (the “Contract Sale Price”), which buyer’s premium shall be paid to the Auctioneer on December 1, 2026.  

10. Cash in hand on the day of sale.  In addition to the buyer’s premium, the successful bidder shall pay to the Successor Trustee on December 1, 2026, a deposit in the amount of Ten Thousand and 00/100 Dollars ($10,000.00) by certified or cashier’s check payable to “Robert J. Dobkin, Successor Trustee” or by wire transfer to an account designated by the Successor Trustee in writing.  Such deposit is NON-REFUNDABLE, except as expressly provided by these Terms of Sale.  The remaining balance of the Contract Sale Price must be paid to the Successor Trustee by certified or cashier’s check or electronic funds transfer no later than 5:00 p.m. EST on Wednesday, December 30, 2026.  Time is of the essence. 

11. Upon conclusion of the Auction, a Memorandum of Sale will be executed confirming the sale of the Real Estate, the Contract Sale Price, the Terms of Sale, and the purchaser’s agreement to comply fully therewith.  If the successful bidder is not present in-person at the Live Auction, the Memorandum of Sale will be transmitted by e-mail to the successful bidder promptly following the conclusion of the Live Auction.  The successful bidder shall have 30 minutes from the conclusion of the Live Auction to return a signed counterpart of the Memorandum of Sale to the successor trustee at 1233 Main Street, Suite 4000, Wheeling, West Virginia 26003, or via email to rdobkin@spilmanlaw.com.   The Memorandum of Sale may be signed and/or transmitted by email of a .pdf document or by means of electronic signature technology (e.g., via DocuSign®, Adobe Sign, or similar electronic signature technology), and to the extent that a party signs the Memorandum of Sale by using electronic signature technology by clicking “SIGN”, such party is signing the Memorandum of Sale electronically, and electronic signatures appearing on the Memorandum of Sale shall be treated for all purposes the same as handwritten signatures.  Time is of the essence.   

12. If the successor bidder fails to (a) deliver the buyer’s premium or deposit within the time prescribed by items 9 and 10, respectively of these Terms of Sale; (b) execute and return the Memorandum of Sale within the time prescribed by item 11 of these Terms of Sale; or (c) remit the balance of the Contract Sale Price within time prescribed by item 10 of these Terms of Sale, at the Successor Trustee’s sole discretion, the Successor Trustee may either (x) file suit to enforce specific performance or seek breach of contract or other applicable damages; (y) convey the Real Estate to the next highest bidder if such bidder will honor his, her or its bid; or (z) proceed to resell the Real Estate pursuant to the aforesaid Deed of Trust.  In the event of such a default, the defaulting party shall forfeit his, her or its deposit and buyer’s premium and shall be liable to the Secured Party for the payment of any deficiency in the purchase price resulting therefrom, all costs and expenses of any subsequent sale, reasonable attorneys’ fees, all other charges due, and incidental damages.  In the event that a resale of the Real Estate results in a sale in excess of the amount originally bid by the defaulting party, the defaulting party shall not be entitled to return of his, her or its deposit or buyer’s premium, and waives any and all claims, rights, and interest to any such excess amount and shall not be entitled to any distribution whatsoever from the resale proceeds. 

13. Neither the Successor Trustee nor the Auctioneer is responsible for any failure, delay, or interruption of the Auctioneer’s Website or a bidder’s internet connection or equipment, or for any bid not received or not recorded.  The Auctioneer’s records shall control.  The Auctioneer may, with the consent of the Successor Trustee, which consent shall be granted or withheld in the Successor Trustee’s sole discretion, pause, extend, or restart bidding, or disregard any bid affected by a technical failure. 

14. The Secured Party reserves the right to bid on the Real Estate at the sale, which bid may be in the form of a credit bid.  The Secured Party shall not be required to post a deposit. 

15. The Real Estate may be sold either as a whole or in parcels in the Successor Trustee’s sole discretion. 

16. The Successor Trustee reserves the right to accept or reject any bids. 

17. The Real Estate will be sold subject to any and all assessments and taxes against the Real Estate; all prior liens and encumbrances of any nature whatsoever; and the Internal Revenue Service’s right of redemption, if any. 

18. The purchaser shall be responsible for the payment of any accrued and unpaid ad valorem real property taxes against the Real Estate. 

19. The purchaser shall be responsible for the payment of the transfer taxes imposed by West Virginia Code § 11-22-2 and all other settlement costs and costs incidental to transfer of the Real Estate.  Taxes and all other public charges and assessments outstanding against the Real Estate shall be paid by purchaser at settlement. 

20. The Real Estate is being sold in “AS IS” condition.  The Successor Trustee makes no representations or warranties of any kind or character including, but not limited to, the condition or zoning of the Real Estate, fitness of the Real Estate for any particular purpose, or the title to the Real Estate to be conveyed.  Prospective purchasers must perform such independent investigations with respect to the Real Estate as they deem necessary prior to bidding on the Real Estate.   

21. The purchaser is responsible for, and the Real Estate is sold subject to, any environmental matter or condition, whether latent or observable, if any, that may exist at or affect or relate to the Real Estate and to any governmental requirements affecting the same. The Real Estate will be sold subject to any building or housing violations, easements, agreements, restrictions, terms, rights of way, filed and unfiled mechanics’ and materialmen’s liens, covenants, conditions, rights of redemption, liens and all other encumbrances having priority over the aforesaid Deed of Trust, if any, lawfully affecting the Real Estate, whether or not of record, including but not limited to environmental conditions (including without limitation possible wetlands, riparian rights, critical or protected areas, and the presence of protected or endangered species) and all applicable federal, state and local laws, ordinances, and regulations lawfully affecting the Real Estate. 

22. The Successor Trustee will deliver a trustee’s deed to the purchaser without any covenant or warranty (express or implied) in the form prescribed by West Virginia Code § 38-1-6 upon receipt of the full Contract Sale Price in good and available funds. 

23. If the Successor Trustee fails, refuses or for any reason is unable to convey title to the Real Estate, the sole remedy of the purchaser is the return of any deposit actually paid by the purchaser to the Successor Trustee.  Reasons of such inability to convey include, but are not limited to, the filing of a bankruptcy petition by the grantor prior to the sale or reinstatement or payoff of the loan secured by the Real Estate without the knowledge of the Successor Trustee.  If the validity of the sale is challenged by a party in interest, the Successor Trustee, in his sole discretion, may declare the sale to be void and return the deposit.  Purchaser shall have no further remedy. 

24. The Successor Trustee shall be under no duty to cause any existing tenant or person occupying the Real Estate to vacate. Prospective purchasers are hereby advised that the rights of any existing tenants or persons occupying the Real Estate may be covered by the provisions of the federal Protecting Tenants at Foreclosure Act and West Virginia Code § 38-1-16.   

25. The Successor Trustee shall be under no duty to cause any items of personal property remaining at the Real Estate following the Auction to be removed therefrom.  The purchaser shall be responsible for compliance with all applicable laws in the disposal of any such items of personal property, including West Virginia Code § 38-1-17, to the extent such statute applies.   

26. The Successor Trustee reserves the right to (i) modify or waive the requirements for bidder’s deposits and terms of sale and/or settlement; (ii) withdraw the Real Estate from sale, including after the Online Advance Bidding Period has commenced; (iii) reject any and all bids; and (iv) to adjourn the Auction for a time, or from time to time, without further notice, by announcement made at the time and place of the Live Auction described above. 

27. Announcements made on the day of sale take precedence over all prior communications, both verbal and written, concerning the sale of the Real Estate, including, but not limited to, these Terms of Sale. 

JOE R. PYLE COMPLETE AUCTION & REALTY SERVICE 

(888) 875-1599 

5546 Benedum Drive Shinnston West Virginia 26431 

www.joerpyleauctions.com 

Joe R Pyle WV212 

Charlotte Pyle WV2174 

Alan Heldreth WV2224 

Jordan Kiger WV2246 

Bob Stewart, Jr WV825 

Bob Stewart, III WV1292 

Todd Short WV1649 

Tia Wolski WV2351 
Ethan Moore WV2354   

Taylor Ramsey WV2352 

Nick Dawkins WV2410 

Bud Shingleton WV1956 

Colton McCown WV2463 

Garrett Wilkerson WV2541A 

Thomas Heldreth WV2520A 

John Powell WV2481A 

Taylor Self WV2521A 

Kevin Zakariasen WV2482A