January 4, 2010
Scrap yard up for auction
By The Mainebiz News Staff
A scrap metal and demolition debris yard in Eliot is being auctioned off this month after the owner stopped paying its mortgage.
Eliot Recycling Services LLC will be put on the auction block Jan. 14 for nonpayment of its mortgage, according to Seacoast Online. The land and buildings are worth $1.29 million and are owned by Linda Corbin of Limerick, who also owns Lucky Day Auto Sales in Lebanon. The mortgage is owned by Almond Cote.
Qualified bidders must make a deposit of $35,000 on or before the auction, and the successful bidder must pay 10% of the purchase price within five days, as well as agree to pay back taxes and other outstanding debts, according to the paper.
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