SUBSTITUTED TRUSTEE'S NOTICE OF SALE
WHEREAS, as of May 24, 2023, JACKSON ESTATES LLC, a Mississippi limited liability company (the "Borrower") executed that certain Multifamily Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing (the "Deed of Trust") to Danny L. Crotwell, as trustee (the "Original Trustee"), for the use and benefit of LIMA ONE CAPITAL, LLC, a Georgia limited liability company (the "Beneficiary"), which instrument was recorded in the Office of the Chancery Clerk of Hinds County (First Judicial District), Mississippi (the "Recording Office") on June 7, 2023, as Instrument Number 1833768, at Book 7295, Page 7859; and,
WHEREAS, on February 6, 2026, pursuant to that certain Substitution of Trustee (the "Trustee Substitution"), Beneficiary substituted Alan Lee Smith (the "Substituted Trustee") as trustee of the Deed of Trust, in the place and stead of the Original Trustee and of any other substituted trustee, which Trustee Substitution was recorded in the Recording Office on February 23, 2026, as Instrument Number 1939194, at Book 7330, Page 7063, and thereafter spread upon the land records maintained by the Chancery Clerk of Hinds County, Mississippi (First Judicial District); and
WHEREAS, default having been made in the terms and conditions of said Deed of Trust and the entire debt secured thereby (the "Indebtedness") having been declared to be due and payable in accordance with the terms of said Deed of Trust, Beneficiary has called upon the Substituted Trustee to execute the trust and make foreclosure thereof according to the terms of said Deed of Trust and applicable Mississippi law, for the purpose of raising the sums due thereunder, with the proceeds thereof to be applied in accordance with the terms and conditions of the Deed of Trust and related loan documents.
NOW, THEREFORE, I, Alan Lee Smith, acting solely in my capacity as Substituted Trustee, by virtue of the authority conferred upon me pursuant to the Deed of Trust and applicable Mississippi law, do hereby give notice that I will, between the legal hours of 11:00 a.m. and 4:00 p.m. on Friday, April 17, 2026, offer for sale at public outcry at the main north front door of the Hinds County Courthouse (First Judicial District), 407 East Pascagoula Street, Jackson, Mississippi, to the highest and best bidder for cash, the following described real property situated in Hinds County, Mississippi (First Judicial District) (the "Premises"), to-wit:
REAL PROPERTY
A parcel of land lying and being situated in the Southwest quarter of the Northwest quarter and the Northwest quarter of the Southwest quarter of Section 7, Township 5 North, Range 1 East, Hinds County, Mississippi and being more particularly described as follows:
Commence at a 1/4" iron pin marking the point of intersection of the North Right-of-way line of Interstate Highway No. 20 (I-20) with the West line of Section 7, Township 5 North, Range 1 East, First Judicial District, Hinds County, Mississippi; thence run North 00 degrees 25 minutes 19 seconds West along with West line of said Section 7 for a distance of 524.82 feet to a 1/2" set iron pin; thence run South 89 degrees 05 minutes 15 seconds East for a distance of 621.93 feet to a set cotton picker spindle in road and the Point of Beginning; thence run North for a distance of 398.13 feet to a 1/2" found iron pin; thence run North 89 degrees 49 minutes 00 seconds East for a distance of 685.16 feet to a 1/2" found iron pin on the West Right-of-way line of West Highland Drive; thence run South 00 degrees 16 minutes 54 seconds West along the West Right-of-way line of West Highland Drive for a distance of 336.16 feet to a 1/2" found iron pin; thence run South 00 degrees 12 minutes 54 seconds West along the West Right-of-way line of West Highland Drive for a distance of 75.05 feet to a 1/2" set iron pin; thence run North 89 degrees 05 minutes 15 seconds West for a distance of 683.31 feet to the POINT OF BEGINNING, containing 6.36 acres, more or less.
Substituted Trustee will on the same date and at the same time and place, proceed to sell at public outcry to the highest and best bidder for cash, pursuant to the provisions of Sections 9-604 and 9-610 of the Uniform Commercial Code (Sections 75-9-604 and 75-9-610 of the Mississippi Code), all of Borrower's right, title and interest in the following described personal property that may be located upon the Premises and/or may exist in association with Borrower's use and enjoyment of the Premises, the Borrower having granted Beneficiary a security interest in said personal property pursuant to the Deed of Trust and/or other security instruments:
PERSONAL PROPERTY
(a). All buildings, structures, improvements and alterations constructed or placed upon the Premises, including all replacements, facilities, additions, and other construction on the Premises (collectively, the "Improvements");
(b). All goods used in connection with the ownership, management, or operation of the Premises or the Improvements or are located on the Premises or in the Improvements, including inventory; furniture; furnishings; machinery, equipment, engines, boilers, incinerators, and installed building materials; systems and equipment for the purpose of supplying or distributing heating, cooling, electricity, gas, water, air or light; antennas, cable, wiring and conduits used in connection with radio, television, security, fire prevention, or fire detection, or otherwise used to carry electronic signals; telephone systems and equipment; elevators and related machinery and equipment; fire detection, prevention and extinguishing systems and apparatus; security and access control systems and apparatus; plumbing systems; water heaters, ranges, stoves, microwave ovens, refrigerators, dishwashers, garbage disposers, washers, dryers, and other appliances; light fixtures, awnings, storm windows, and storm doors; pictures screens, blinds, shades, curtains, and curtain rods; mirrors, cabinets, paneling, rugs, and floor and wall coverings; fences, trees, and plants; swimming pools; exercise equipment; supplies; tools; books and records (whether in written or electronic form); websites, URL's, blogs, and social network pages; computer equipment (hardware and software); and other tangible personal property which is used in connection with the ownership, management, or operation of the Premises or the Improvements or are located on the Premises or in the Improvements (collectively, the "Goods"); all money, funds, investment property, accounts, general intangibles, deposit accounts, chattel paper, documents, instruments, judgments, claims, settlements of claims, causes of action, refunds, rebates, reimbursements, reserves, deposits, subsidies, proceeds, products, all rents (whether from residential or non-residential space), revenues and other income from the Premises or the Improvements, including subsidy payments received from any sources, including payments under any "Housing Assistance Payments Contract" or other rental subsidy agreement (if any), parking fees, laundry and vending machine income and fees and charges for food, health care and other services provided at the Premises (collectively, the "Accounts"), whether now due, past due, or to become due, and tenant security deposits, and profits received or receivable, from or on account of the ownership, management and operation of the Premises, all choses in action, chattel paper, documents, general intangibles (including all software, computer programs, and any supporting information provided in connection with a transaction relating to a computer program), payment intangibles, instruments, investment property, letter of credit rights, supporting obligations, computer information, source codes, object codes, records and data, all telephone numbers or listings, claims (including claims for indemnity or breach of warranty), deposit accounts and other property or assets of any kind or nature related to the Premises or the Improvements, including operating agreements, surveys, plans and specifications and contracts for architectural, engineering and construction services relating to the Premises or the Improvements, and all other intangible property and rights relating to the operation of, or used in connection with, the Premises or the Improvements, including all governmental permits relating to any activities on the Premises (together with Goods and Accounts, collectively, the "Personalty");
(c). All rights, including air rights, development rights, zoning rights and other similar rights or interests, easements, tenements, rights-of-way, streets, alleys and roads which may have been or may in the future be vacated;
(d). All insurance policies related to the Premises (and any unearned premiums) and all proceeds paid or to be paid by any insurer of the Premises, the Improvements, the Personalty, or any other part of the Premises, whether or not Borrower obtained the insurance pursuant to Beneficiary's requirements;
(e). All awards, payments and other compensation made or to be made by any municipal, state or federal authority with respect to the Premises, the Improvements, the Personalty, or any other party of the Premises, including any awards or settlements resulting from (1) any action or proceeding, however characterized or named, relating to any condemnation or other taking, or conveyance in lieu thereof, of all or any part of the Premises, whether direct or indirect (collectively, the "Condemnation Actions"), (2) any damage to the Premises caused by governmental action that does not result in a Condemnation Action, or (3) the total or partial taking of the Premise, the Improvements, the Personalty, or any other part of the Premises, under the power of eminent domain or otherwise and including any conveyance in lieu thereof;
(f). All contracts, options and other agreements for the sale of the Premises, the Improvements, the Personalty, or any other part of the Premises entered into by Beneficiary, including cash or securities deposited to secure performance by parties of their obligations;
(g). All leases, subleases, licenses, concessions or grants or other possessory interests in force, whether oral or written, covering or affecting the Premises, or any portion of the Premises (including proprietary leases or occupancy agreements if Borrower is a cooperating housing corporation), and all modifications, extensions or renewals thereof (collectively, the "Leases");
(h). All earnings, royalties, accounts receivable, issues and profits from the Premises, the Improvements or any other part of the Premises and, if Borrower is a cooperative housing corporation, maintenance charges or assessments payable by shareholders or residents;
(i). All names under or by which any of the premises may be operated or known, and all trademarks, trade names, and goodwill relating to any of the Premises;
(j). All products, and all cash and non-cash proceeds from the conversion, voluntary or involuntary, of any of the above into cash or liquidated claims, and the right to collect such proceeds; and
(k) All oil, gas, minerals, mineral interests, royalties, overriding royalties, production payments, net profit interests and other interests and estates in, under and on the Premises and other oil, gas and minerals and mineral interests with which any of the foregoing interest or estates are pooled or unitized.
The foregoing real and personal property (collectively, the "Property") shall be sold together on an "As Is, Where Is" basis without warranty or recourse, express or implied, as to title, possession, use and/or enjoyment, and subject to the following:
Any unpaid taxes against the Property;Any recorded easements, conditions, covenants, rights-of-way or subdivision plats affecting the Property;
Any dedication of roads affecting the Property and any governmental zoning and subdivision ordinances or regulations in effect; and,
Any prior or superior liens, judgments, deeds of trust, or other interests of record and/or existing as a matter of law regarding the Property.
I shall convey only such title as is vested in me as Substituted Trustee.
WITNESS MY SIGNATURE on this the 23rd day of March, 2026.
/s/ Alan Lee Smith
ALAN LEE SMITH, acting
solely in my capacity as
Substituted Trustee
Baker, Donelson, Bearman,
Caldwell & Berkowitz, P.C.
Attn: Alan Lee Smith, Esq.
P.O. Box 14167
Jackson, Mississippi 39236
(601) 351-8932
Real Property Name and Physical Address:
Jackson Valley Apartments
1595 West Highland Drive
Jackson, MS 39204
Publication Dates:
March 26, 2026; April 2, 2026;
April 9, 2026; and April 16, 2026
March 26, April 2, 9, 16 2026
LMSS0485487