Kimball House Square

Auction Date: Tuesday, January 17, 2012 11:00 AM

SOLD!!! $2,479,100

Master Commissioner Auction
Selling 19 Condos & 15 Garages


275 S Limestone St

Lexington, KY 40508

Fayette County

SOLD - $2,479,100.00

Master Commissioner Sale

James H Frazier III, Master Commissioner

Case No. 12-Cl-1145

Salyersville National Bank VS. JTM Holdings, LLC, et al

For more info visit the Master Commissioner website at


Thursday January 17th at 11am

Kimball House Square

275 S. Limestone St.

Lexington, KY 40508


PUBLIC PREVIEW: Thursday January 17th at 10:00 AM.  Auction starts at 11 AM.  Two units only will be available for viewing.

275 S. Limestone Street: Unit 250 & Unit 305


Location of Auction: Onsite at Kimball House Square

Inventory to be sold:  275 S. Limestone, units 200, 210, 220, 225, 230, 235, 240, 245, 250, 300, 305, 310, 335, & 350

263 S. Limestone, unit 201

372 S. Upper Unit 102

376 S. Upper unit 101

380 S. Upper unit 101, 102

Enclosed Garages numbered 1, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25

Method of Sale:  Offering 19 condo units and 14 garages at Absolute Auction.  The auctioneer shall first offer the condominium units separately.  Next the auctioneer will offer each garage separately.

NOTE: Only high bidders on a condominium unit may bid on a garage and only the number of garages as such bidder is the high bidder on condominium units.

Finally the auctioneer will offer all condominium units and all of the garages in bulk together.  If the total price of all the condominium units and all of the garages bid upon separately exceeds the price of the sale in bulk then the auctioneer will sell the units and garages separately (even if all of those units have not received a bid) otherwise the auctioneer will sell the units and garages all together in bulk.

Terms & Conditions:

(A) At the time of sale the successful bidder shall either pay cash or make a deposit of 10% of the purchase price with the balance on credit for sixty (60) days.  In the event the successful bidder desires or elects to credit the balance, he or she will be required to post bond and furnish an acceptable surety thereon.  Said bond shall be be for the unpaid purchase price and bear interest at the rate of twelve (12%) percent per annum from the date of sale until paid

(B) The purchaser shall be required to assume and pay all taxes or assessments upon the property for the current fiscal tax year (i.e. the amount that will be due thru June 30, 2013) and all subsequent years.  All other delinquent taxes or assessments upon the property for prior years shall be paid from the sale proceeds if properly claimed in writing and filed of record by the purchaser within ten (10) days from the date of sale.

(C)  The property shall otherwise be sold free and clear of any right, title and interest of all parties to the action and their liens and encumbrances thereon, excepting easements and restrictions of record in the Fayette County Court Clerk's Office and such right of redemption as may exist in favor of the United States of America or the defendant(s).