Texas State Bank has scheduled a third foreclosure sale on the closed Hotel Fredonia property in Nacogdoches.

The sale will be Dec. 2 and will be conducted as a public auction to the highest bidder for cash.

Texas State Bank is the lienholder of the hotel.

The bank’s general counsel, Paul Clark says the sale will be a first-lien deed of trust foreclosure. He says the bank has no buyer as of now.

It’s reported more than $2 million is owned on the first lien.

In August, Texas State Bank was the only bidder during its third-lien foreclosure on hotel inventory.

The property has been closed for a year.