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  • MORTGAGEE'S NOTICE OF SALE OF REAL ESTATE

    By virtue and in execution of the power of sale contained in a certain Mortgage and Security Agreement and Financing Statement, by and between FARLAP DEVELOPMENT CORPORATION and PEOPLE'S BANK, dated October 4, 2006, recorded in the Dukes County Registry of Deeds ("Registry") in Book 1097, Page 607, as amended by Amendment of Security Instruments, by and between People's United Bank, formerly known as People's Bank, and Farlap Development Corporation, dated as of February 25, 2010, recorded in the Registry in Book 1205, Page 376 (collectively, the "Mortgage"), of which Mortgage the undersigned (the"Mortgagee") is the present holder by Assignment of Mortgage and Other Recorded Documents, from People's United Bank, National Association, formerly known as People's United Bank, formerly known as People's Bank, to NLP Finance, LLC, which Assignment is dated as of April 29, 2015, and recorded in the Registry in Book 1375, Page 650, for breach of the conditions of said Mortgage and for the purpose of foreclosing the same, will be sold at Public Auction at 12:00 P.M. on the 26th day of June, 2015, at the entrance to the mortgaged premises located on Woodlands Drive/Paddock Road, off County Road, Oak Bluffs, Dukes County, Massachusetts 02557, all and singular the premises described in said Mortgage (the "Premises"), to wit:

    That certain land in Oak Bluffs, Dukes County, Massachusetts, more particularly bounded and described as follows:

    The Preserve at the Woodlands, Oak Bluffs, MA

    Lots "OpenSpace 1", I, 2, 4, 7, 9, 10, 11, 12, 13, 14, "OpenSpace 3", 15, 16, 17, 18, 19, 20, 21, 23, 24, 25, all as shown on "Definitive Subdivision of Land in Oak Bluffs 'The Preserve at the Woodlands' Oak Bluffs, Mass." prepared by Ducharme & Wheeler dated May 16,2005 and recorded with the Dukes County Registry of Deeds in Plan Book 15, Page 36, (the "Plan").

    Appurtenant rights in a view easement as more fully described in a deed from the Grantor to the Martha's Vineyard Land Bank Commission dated March 23, 2005 and recorded with the Dukes County Registry of Deeds in Book 1035, Page 66.

    Specifically excluding the fee in the ways shown as "Paddock Road" and "Woodlands Drive" as shown on the Plan.

    Right to pass and repass by foot and by vehicle, in common with all others legally entitled thereto, over the ways shown as "Paddock Road" and "Woodlands Drive" as shown on the Plan, for all purposes for which streets and ways are used in the Commonwealth of Massachusetts.

    For title, see the deeds listed in the said Mortgage as numbers 1 through 78, all of which are recorded in the Registry.

    For mortgagor's title, see deed of Millenium Par Holdings, LLC and Corey A. Kupersmith, dated
    September 29, 2006, recorded with Dukes County Deeds in Book 1097, Page 602.

    The Premises will be conveyed subject to and with the benefit of the following:

    1. Easement Agreement dated August 18, 2005, recorded with the Registry in Book 1061, Page
    1083.

    2. Covenant, undated, recorded on July 18,2005 with the Registry in Book 1048, Page 569.

    3. Definitive Subdivision Plan Approval from the Oak Bluffs Planning Board, dated March 10, 2005 and recorded with the Registry in Book 1035, Page 1.

    5. Special Permit and Site Plan Review Approval from the Oak Bluffs Planning Board, dated December 6,2004 and recorded with the Registry in Book 1031, Page 610.

    6. Any rights, interest, or claims of parties in possession of the land not shown by the public records.

    7. Right to pass and repass by foot and by vehicle, in common with all others legally entitled thereto, over the ways shown as "Paddock Road" and "Woodlands Drive" as shown on the Plan, for all purposes for which streets and ways are used in the Commonwealth of Massachusetts.

    8. Restrictions and other matters set forth in a deed to the Martha's Vineyard Land Bank Commission, dated March 23, 2005, recorded with the Registry in Book 1035, Page 66.

    9. Easement to NSTAR Electric Company, date July 7, 2008, recorded with the Registry in Book 1157, Page 206.

    10. Statements Filed to Continue Municipal Lien, dated July 14, 2014,recorded in the Registry in Book 1353, Pages 518-528 and 530-540, and Instruments of Taking dated October 31,2014, recorded in the Registry in Book 1363, Pages 932-952.

    11. Decision of the Martha's Vineyard Commission, dated April 16, 2004, recorded with the Registry in Book 996, Page 165.

    12. Any and all restrictions,easements, improvements,tax liens,outstanding tax titles, municipal and other public taxes, betterments, assessments, liens or claims in the nature of liens, and existing encumbrances of record created prior to the Mortgage or to which the Mortgage has been subordinated of record, whether or not reference to such restrictions, easements, improvements, liens or encumbrances is made in the Mortgage, in this Mortgagee's Notice of Sale of Real Estate, or in the Foreclosure Deed.

    There is also included in the sale all improvements and fixtures situated on the Premises to the extent the same are part of the realty, subject to all liens and encumbrances, if any.

    Terms of sale: A deposit of One Hundred Fifty Thousand Dollars ($150,000.00) by certified or bank check will be required to be paid by the successful bidder at the time and place of sale. Two business days after the time of sale, an additional deposit shall be paid by certified or bank check by the successful bidder to bring the aggregate deposit up to an amount equal to ten percent

    (10%) of the amount bid. The balance is to be paid by certified or bank check at the offices of Reynolds, Rappaport,Kaplan & Hackney,LLC, 106 Cooke Street, Edgartown,MA 02539, at 12:00 P.M., on July 10, 2015. Time will be of the essence. The successful bidder shall be required to sign a Memorandum of Sale containing the above terms and additional terms at the time and place of sale. The successful bidder shall be required to guarantee payment of the amount bid and entered on the Memorandum of Sale and performance thereunder. The successful bidder shall be responsible for payment of the Massachusetts deed excise stamp tax and the applicable fee due to the Martha's Vineyard Land Bank, if any, upon delivery of the Foreclosure Deed.

    In the event of an error in this Mortgagee's Notice of Sale of Real Estate, the description of the Premises contained in the Mortgage shall control.

    Mortgagee reserves the right to change the foregoing terms of sale by announcement, written or oral, made before or at the commencement of the auction sale, or at the commencement of any adjourned sale.

    Mortgagee reserves the right to adjourn, postpone or cancel sale up until the moment the auctioneer accepts the highest bid.

    Mortgagee reserves the right to sell the Premises in whole or in part.

    In the event that the successful bidder at the sale shall default in purchasing the Premises according to the terms of this Notice of Sale and/or the terms of the Memorandum of Sale executed at the time of the sale, Mortgagee reserves all of its rights against such successful bidder, and, in addition,Mortgagee reserves the right to sell the Premises by Foreclosure Deed and Affidavit of Sale to the second highest bidder, provided that the second highest bidder shall deposit with Mortgagee's attorneys, Reynolds, Rappaport, Kaplan & Hackney, LLC, the amount of the required deposit as set forth herein, shall be required to guarantee payment of the amount bid and entered on the Memorandum of Sale and performance thereunder, and shall execute a Memorandum of Sale, all within three (3) business days after written notice of default of the previous highest bidder, and title shall be conveyed to said second highest bidder within fourteen (14) days of said written notice,time being of the essence unless Mortgagee agrees otherwise.

    Other terms, if any, to be announced at the sale.

    NLP FINANCE, LLC,
    Present holder of the Mortgage

    S. Fain Hackney, Esq.
    Reynolds, Rappaport, Kaplan & Hackney, LLC
    106 Cooke Street
    P.O. Box 2540
    Edgartown, MA 02539
    (508)627-3711
    Attorney for NLP Finance, LLC
    LN: 5/28/15, 6/4/15, 6/11/15, 3t