740 Cooper St Sw

STATE OF GEORGIA COUNTY OF FULTON NOTICE OF SALE UNDER POWER WHEREAS, Oliver Park Apartments LLC, a Delaware limited liability company ("Borrower") executed and delivered to Basis Multifamily Capital, LLC, a Delaware limited liability company ("Original Lender"), that certain Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement (the "Security Deed"), made effective as of March 24, 2021, filed and recorded March 24, 2021 in Deed Book 63422, beginning at Page 297, with the Clerk of the Superior Court of Fulton County, Georgia (the "Fulton County Records"), as such Security Deed was assigned, granted, sold and transferred by Original Lender to Basis Multifamily Finance I, LLC, a Delaware limited liability company ("First Interim Lender"), pursuant to that certain Assignment of Security Instrument, effective as of March 24, 2021, filed and recorded March 24, 2021 in Deed Book 63427, beginning at Page 328, in the Fulton County Records, as corrected pursuant to that certain Corrective Assignment of Security Instrument, filed and recorded March 10, 2025 in Deed Book 68730, beginning at Page 512 in the Fulton County Records, as such Security Deed was further assigned, granted, sold and transferred by First Interim Lender to Federal Home Loan Mortgage Corporation ("Second Interim Lender"), pursuant to that certain Assignment of Security Instrument, effective as of March 24, 2021, filed and recorded March 24, 2021 in Deed Book 63427, beginning at Page 331, in the Fulton County Records, as corrected pursuant to that certain Corrective Assignment of Security Instrument, filed and recorded March 12, 2025 in Deed Book 68740, beginning at Page 369 in the Fulton County Records, as such Security Deed was further conveyed, assigned, transferred and set over by Second Interim Lender to U.S. Bank National Association, as trustee for the registered Holders of J.P. Morgan Chase Commercial Mortgage Securities Corp., Multifamily Mortgage Pass-Through Certificates, Series 2021-SB87 ("Third Interim Lender"), pursuant to that certain Assignment of Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement, effective as of June 17, 2021, filed and recorded June 28, 2021 in Deed Book 64024, beginning at Page 435, in the Fulton County Records, and as further granted, bargained, sold, conveyed, assigned, transferred and set over by Third Interim Lender to FRESB 2021-SB87 Cooper Street SW, LLC, a Georgia limited liability company ("Holder"), pursuant to that certain Assignment of Multifamily Deed to Secure Debt, Assignment of Rents and Security Agreement, dated July 17, 2026, filed and recorded July 17, 2026 in Deed Book 70331, beginning at Page 622, in the Fulton County Records (said Security Deed, as so assigned, being hereinafter called the "Security Instrument"); and WHEREAS, under and pursuant to the Security Instrument, Borrower did thereby grant, convey and assign to Holder (as subsequent successor and assign of Original Lender) and Holder's successors and assigns, with power of sale, all of Borrower's then present and future right, title and interest in and to all of the following (the "Mortgaged Property"): (a) The land described as follows (the "Land"): ALL THAT TRACT OR PARCEL of land lying and being in Land Lot 75 of the 14th District of Fulton County, Georgia and being more fully described as follows: BEGINNING at a point on the east side of Cooper Street 220.3 feet south from the southeast corner of Cooper and Bass Streets; running thence south along the side of Cooper Street 132 feet to an iron pin located on the north side of a 20 foot alley; thence east along the north side of said alley 121 feet to an iron pin; thence northeasterly 6.1 feet to an iron pin located on the west side of a 10 foot alley; thence north along the west side of said alley 128.5 feet to an iron pin; thence west 126 feet to the east side of Cooper Street and the POINT OF BEGINNING, being improved property on which is located apartment buildings and known as 740 Cooper Street, SW. (b) The buildings, structures and improvements then constructed or at any time in the future constructed or placed upon the Land, including any future alterations, replacements and additions (the "Improvements"). (c) All property owned by Borrower which is attached to the Land or the Improvements so as to constitute a fixture under applicable law, including: 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; and exercise equipment (the "Fixtures"). (d) All of the following (the "Personalty"): (i) Accounts (including deposit accounts) of Borrower related to the Mortgaged Property. (ii) Equipment and inventory owned by Borrower, which was used then or in the future in connection with the ownership, management or operation of the Land or Improvements or are located on the Land or Improvements, including furniture, furnishings, machinery, building materials, goods, supplies, tools, books, records (whether in written or electronic form) and computer equipment (hardware and software). (iii) Other tangible personal property owned by Borrower which was used then or in the future in connection with the ownership, management or operation of the Land or Improvements or is located on the Land or in the Improvements, including ranges, stoves, microwave ovens, refrigerators, dishwashers, garbage disposers, washers, dryers and other appliances (other than Fixtures). (iv) Any operating agreements relating to the Land or the Improvements. (v) Any surveys, plans and specifications and contracts for architectural, engineering and construction services relating to the Land or the Improvements. (vi) All other intangible property, general intangibles and rights relating to the operation of, or used in connection with, the Land or the Improvements, including all governmental permits relating to any activities on the Land and including subsidy or similar payments received from any sources, including a Governmental Authority (as defined in Security Instrument). (vii) Any rights of Borrower in or under letters of credit. (e) All current and future rights, including air rights, development rights, zoning rights and other similar rights or interests, easements, tenements, rights of way, strips and gores of land, streets, alleys, roads, sewer rights, waters, watercourses and appurtenances related to or benefiting the Land or the Improvements, or both, and all rights-of-way, streets, alleys and roads which may have been or may in the future be vacated. (f) All proceeds paid or to be paid by any insurer of the Land, the Improvements, the Fixtures, the Personalty or any other part of the Mortgaged Property, whether or not Borrower obtained the Insurance (as defined in that certain Loan Agreement SBL (Revised 10-01-2020) effective as of March 24, 2021, by and between Borrower and Original Lender, as subsequently endorsed and assigned to Holder (the "Loan Agreement")), pursuant to Holder's requirement. (g) All awards, payments and other compensation made or to be made by any municipal, state or federal authority with respect to the Land, the Improvements, the Fixtures, the Personalty or any other part of the Mortgaged Property, including any awards or settlements resulting from Condemnation (as defined in the Loan Agreement) proceedings or the total or partial taking of the Land, the Improvements, the Fixtures, the Personalty or any other part of the Mortgaged Property under the power of eminent domain or otherwise and including any conveyance in lieu thereof. (h) All contracts, options and other agreements for the sale of the Land, the Improvements, the Fixtures, the Personalty or any other part of the Mortgaged Property entered into by Borrower then or in the future, including cash or securities deposited to secure performance by parties of their obligations. (i) All proceeds from the conversion, voluntary or involuntary, of any of the items described in subsections (a) through (h) inclusive into cash or liquidated claims, and the right to collect such proceeds. (j) All rents (whether from residential or non-residential space), revenues and other income of the Land or the Improvements, parking fees, laundry and vending machine income and fees and charges for food, health care and other services provided at the Mortgaged Property, whether then due, past due or to become due, and deposits forfeited by tenants, and, if Borrower is a cooperative housing corporation or association, maintenance fees, charges or assessments payable by shareholders or residents under proprietary leases or occupancy agreements, whether then due, past due, or to become due (the "Rents"), and all present and future leases, subleases, licenses, concessions or grants or other possessory interests then or thereafter in force, whether oral or written, covering or affecting the Mortgaged Property, or any portion of the Mortgaged Property (including proprietary leases or occupancy agreements if Borrower is a cooperative housing corporation), and all modifications, extensions or renewals (the "Leases"). (k) All earnings, royalties, accounts receivable, issues and profits from the Land, the Improvements or any other part of the Mortgaged Property, and all undisbursed proceeds of the loan secured by the Security Instrument. (l) All deposits to a Reserve Fund (as defined in the Security Instrument), whether in cash or as a letter of credit. (m) All refunds or rebates of Taxes (as defined in the Security Instrument) by a Governmental Authority (other than refunds applicable to periods before the real property tax year in which the Security Instrument is dated) or Insurance premiums by an insurance company. (n) All tenant security deposits which have not been forfeited by any tenant under any Lease and any bond or other security in lieu of such deposits. (o) All names under or by which any of the above Mortgaged Property may be operated or known, and all trademarks, trade names, and goodwill relating to any of the Mortgaged Property. WHEREAS, the Security Instrument secures, in part, that certain loan (the "Loan") to Borrower made by Original Lender, as evidenced by that certain Note Fixed Rate SBL (Revised 10-01-2020) (the "Note"), effective March 24, 2021 in the original principal amount of $1,260,000.00, executed by Borrower and payable to the order of Original Lender, as such Note was subsequently endorsed and assigned to Holder; and WHEREAS, defaults and Events of Default (as defined in the Loan Agreement), have occurred under the Note, the Security Instrument, the Loan Agreement and the other Loan Documents (as defined in the Loan Agreement) and are continuing, specifically including, without limitation, the failure of Borrower to pay the payments due under the Note and the other Loan Documents on the dates on which such payments were due; and WHEREAS, by reason of such defaults and Events of Default, the Maturity Date (as defined in the Note) has been, and is hereby, accelerated and the entire Indebtedness (as defined in the Security Instrument) declared immediately due and payable in its entirety, and the Security Instrument has become, is, and is hereby subject to foreclosure as provided by law, the Note, the Loan Agreement, and the Security Instrument; and WHEREAS, prior to the consummation of the exercise of the power of sale contained in the Security Instrument and the consummation of the foreclosure sale of the Mortgaged Property, any and all funds, cash, letters of credit and other sums, if any, held by Holder for or on behalf of Borrower, in the Reserve Funds, and in any other escrow, any other reserve and in other accounts established under the Note, the Loan Agreement, the Security Instrument and/or any other Loan Document, for payment of taxes, assessments and other similar charges levied against the Mortgaged Property, insurance, capital improvements, replacements, tenant improvements, leasing commissions or otherwise (collectively, the "Funds") have been or shall be applied by Holder toward payment of the Indebtedness, to the extent provided in the Note, the Loan Agreement, the Security Instrument and the other Loan Documents. NOW, THEREFORE, under and pursuant to the power of sale contained in the Security Instrument and according to the terms of the Security Instrument and the laws in such cases made and provided, Holder will expose the Mortgaged Property (less and except the Funds) for sale, at public sale to the highest bidder, for cash on that certain first Tuesday in September, 2026, being September 1, 2026, during the legal hours for sale, before the courthouse door in Fulton County, Georgia. The Mortgaged Property (less and except the Funds) will be sold subject to the following: 1. All outstanding taxes and assessments, and any additional taxes which result from a reassessment of the Mortgaged Property; 2. All valid zoning ordinances; 3. Rights and obligations of tenants in possession as tenants only, with no option to purchase or right of first refusal; 4. All other, if any, easements, limitations, reservations, covenants, restrictions, deeds to secure debt, liens and other encumbrances and matters of public records to which the Security Instrument is junior and subordinate in terms of priority under the laws of the State of Georgia; and 5. Any and all other matters that a survey of the Mortgaged Property would reveal. The Indebtedness remaining in default and the aforesaid Events of Default continuing, the sale of the Mortgaged Property (less and except the Funds) under and pursuant to the power of sale contained in the Security Instrument will be made for the purpose of applying the proceeds thereof, as provided for in the Security Instrument and pursuant to applicable law. The Mortgaged Property (less and except the Funds) will be sold on an "as is, where is" basis without recourse against Original Lender, First Interim Lender, Second Interim Lender, Third Interim Lender or Holder and without representation or warranty of any kind or nature whatsoever with respect thereto, with no assurance afforded as to the exact acreage of the Land. To the best of Holder's knowledge and belief, the Mortgaged Property (less and except the Funds) is presently owned by Borrower, subject to the aforesaid interests of Holder, and the matters set forth herein, and Borrower is the party in possession of the Mortgaged Property (less and except the Funds), subject to the aforesaid interests. The notice to Borrower, pursuant to O.C.G.A. ? 44-14-162.2, has been provided by Holder to Borrower in accordance with said O.C.G.A. ? 44-14-162.2. The undersigned may sell the Mortgaged Property (less and except the Funds) or any part of the Mortgaged Property (less and except the Funds) in such manner and order as Holder may elect and may sell that portion of the Mortgaged Property (less and except the Funds), which, under the laws of the State of Georgia, constitutes an estate or interest in real estate separately from that portion of the Mortgaged Property (less and except the Funds), which, under the laws of the State of Georgia, constitutes personalty and not an interest in the real estate, in which case separate bids will be taken therefor, or collectively in a single sale or lot, in which case a single bid will be taken therefor. Notice of the undersigned's intent shall be given by announcement made at the commencement of the public sale. The recitals set forth hereinabove are hereby incorporated in and made a part of this Notice of Sale Under Power. FRESB 2021-SB87 COOPER STREET SW, LLC, a Georgia limited liability company, as agent and attorney-in-fact for OLIVER PARK APARTMENTS LLC, a Delaware limited liability company By: U.S. BANK NATIONAL ASSOCIATION, AS TRUSTEE FOR THE REGISTERED HOLDERS OF J.P.MORGAN CHASE COMMERCIAL MORTGAGE SECURITIES CORP., MULTIFAMILY MORTGAGE PASS-THROUGH CERTIFICATES, SERIES 2021-SB87, Sole Member of Holder By: LNR Partners, LLC, a Florida limited liability company, its Attorney-in-Fact under that certain Limited Power of Attorney dated July 23, 2025 By: its attorney-at-law: /Bob Stupar/ Bob Stupar, Esq. Kilpatrick Townsend & Stockton LLP 1100 Peachtree Street NE, Suite 2800 Atlanta, Georgia 30309-4528 404-815-6500 8:5,12,19,26, 2026kw Ad #571054