The Clarion-Ledger published a foreclosure notice on Metrocenter Mall in the newspaper today. The creditor is First Credit Bank of Los Angeles, California and the debtor is Jackson Metrocenter Mall, LTD, a Texas corporation. The foreclosure does not affect several properties as they are owned by other entities. Belks is owned by Retrometro. The city of Jackson owns the former Dillards building. The Sears and Burlington stores are owned by the tenants. The notice states:
"UNIFORM COMMERCIAL CODE ARTICLE 9 FORECLOSURE SALE NOTICE PLEASE TAKE NOTICE that First Credit Bank ("Secured Creditor") will offer for sale at public outcry, for cash or immediately available funds via federal wire, to the highest bidder the Collateral (as defined below), pursuant to its rights as a Secured Creditor under a Promissory Note, Commercial Security Agreement, and Deed of Trust, all dated February 16, 2005 and as amended on June 16, 2009, and as further amended effective November 16, 2010 ("Loan Documents"), executed by Jackson Metrocenter Mall, Ltd., a Texas limited partnership, ("Debtor"), and applicable law, and will sell within the legal hours of 11:00 a.m. and 4:00 p.m. on October 31, 2012, at the main North door of the County Courthouse in the First Judicial District of Hinds County, City of Jackson, State of Mississippi. Debtor owns the Collateral located on, in, or around, or related to Debtor's business conducted on real property commonly known as "Metrocenter Mall" located at 1395 Metrocenter, Jackson, Mississippi 39206 (the "Business"). Debtor has good and valid title to the Collateral, subject to the first priority perfected security interest of the Secured Creditor. The Debtor has defaulted under the terms of the Loan Documents. Pursuant to its rights as a Secured Creditor under the Loan Documents executed by the Debtor, and applicable law, the Secured Creditor will sell at public auction for cash, free and clear of its lien, but without further warranties of any kind, the following Collateral: All of the personal property of Debtor, located on the real property commonly known as "Metrocenter Mall" located at 1395 Metrocenter, Jackson, Mississippi 39206, and more particularly described on Exhibit "A" attached hereto and incorporated herein by reference, and whether now owned or hereafter acquired, including: a. fixtures; b. furnishings; c. equipment; d. accounts; e. general intangibles; f. instruments; g. contracts; h. agreements; i. rents; j. monies; k. payments; l. all other rights related to the Collateral. All of the above described personal property is referred to herein as the "Collateral." Each item described above shall have the meaning ascribed to it in the U.C.C. As provided in the U.C.C., the Collateral shall include the supporting obligations, proceeds and products of each item listed. Also included in the definition are all accessions, attachments, accessories, parts, replacements, substitutions of, and additions to any of the items listed above, whether added now or later, and all records and data relating to any item described in this Collateral section, whether in the form of a writing, photograph, microfilm, microfiche, or electronic media, together with all of Debtor's right, title and interest in and to all computer software required to utilize, create, maintain and process any such record or data on electronic media. Debtor may request from Secured Party an accounting of the unpaid indebtedness under the Loan Documents. Secured Party shall provide such accounting upon request at a reasonable cost to be paid by Debtor. Dated: October 1, 2012 First Credit Bank Secured Creditor by and through Counsel Suzanna Baker Neill Bryant Wells, Moore, Simmons & Edwards, PLLC 4450 Old Canton Road, Suite 200 Jackson, MS 39211 Contact: Neill Bryant Phone: 601-354-5400 Fax: 601-355-5850 Email: bryant@wellsmoore.com Publication Dates: October 8, 2012 October 15, 2012 October 22, 2012 October 29, 2012 EXHIBIT "A" TRACT ONE SURVEY DESCRIPTION A certain lot of parcel of land lying and being situated in the First Judicial District of Hinds County, Mississippi, being known as the Metrocenter Mall, and being more particularly described as follows, to-wit: ....."
Monday, October 8, 2012
Foreclosure notice filed on Metrocenter
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15 comments:
LMAO. Maybe Harvey will propose buying the whole damn thing and move City Hall there. Don't forget the wiring this time Harv. Or maybe they can convert the place to a jail. Hey LaRita, just think about the big ass personal space you and Pa Stokes could set up there. Y'all could become ministers like Yarber and set up an altar in the food court.
Would be a better location for DOR than downtown.
Just in time for the city to move there! I guess the city employees will have to drive to rankin or northpark to do lunchtime shopping or dining! There were going to have to do that anyway...
Oh, now. Snarkiness aside (always difficult for me), I do recall when Metrocenter was simply the cat's pajamas. My mom and I would drive over and shop, and a grown-up treat was lunch at Widow Watson's. The spinach salad with sweet mushroom dressing is sort of my version of Proust's madeleines. So, of course, seeing it all fall into hopeless disarray and decay is poignant. As it was when Jackson Mall died. Northpark is next, but I never developed any affection for it. One learns that...cities decline. "Things fall apart/The center cannot hold"...
This notice is for a sale of personal property only, for what's worth, not land.
We all know what happened to Jackson Mall, Metrocenter and now , Northpark. Not one of us will dare say it for fear of being called, "racist".
To anonymous at 1:53PM, Do you have a plan in place to protect Rennaisance and Township, once they close NorthPark? Are you planning a new mall in Gluckstadt?
@ 1:53 PM- You didn't say it, but I still think you're racist. Fear not!
October 8, 2012 3:47 PM presents a slippery slope logical fallacy. The argument is frequently used by Jackson apologists.
I agree 4:23 and why don't y'all instead defend this. Is 1:53 right, proof to us he or she is not. From where I am looking, it sure looks that way. You have to learn to police your own people.
It's typical for a certain demographic and a certain political persuasion to pull on a red, green and black knit cap and chant RACISM when faced with the truth. We could all gather around a wall full of chart paper and clearly outline the events that have led to the demise of each of these venues. And we could reach common denominators. But, how often do we need to do that and for what purpose? The answer never changes so why not simply agree on the shortcut and state reality? It is what it is, no matter the taste when swallowing.
I think you said it right 11:16. Hopeless disarry and decay. Growing up in Jackson and Hinds County, it is very sad to see what has become of all of it. So many of the areas that were once thriving are now neglected and in terrible shape. I blame the city and county leaders for this. They have mispent money that could have been used for economic development and providing jobs for people to help clean up and keep things going. The crime rate has skyrocketed and many people are leaving Jackson and Hinds County. To me it is becoming a dying area. But, as long as we continue to have the same type of leadership (or non leadership to be more precise) things will not improve. It is truly heartbreaking. Jackson and Hinds County was once truly a wonderful place to live.
I don't think the MetroCenter's "glory days" lasted long. I think it opened in 1978 and Northpark opened in 1984. Who remembers when the Jackson Mall was THE place to go? I remember going there in the 1970s and getting lost. I really had my parents worried.
Fall of you nostalgic about what jackson was....where do you live now, when was the last time you got involved? It isn't just the politicians who have responsibility but citizens as well. Join the Chamber, join safe city, DO SOMETHING like the Leland Speeds,Hoods, Irbys, Jimmy Fowlers of the past.
You are right 9:08, it IS the responsibility of the citizens also, but.. the politicians are supposed to be the LEADERS. If there is total disfunction and DISRESPECT within the ranks of the people holding the purse strings and making policy decisions then this is what you get.Please tell us 9:08, what have you done for the City of Jackson and the County of Hinds? And, by the way unfortunately most of us don't have the money like the people you named.They were good people, I knew most of them personally, but a great deal of what they were able to do was because they had the money to make it happen.
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