"Downtown Annapolis"

This Auction has been CANCELED.

Huesman, Jones and Miles, LLC
Executive Plaza II, Suite 905
11350 McCormick Road
Hunt Valley, MD 21031

SUBSTITUTE TRUSTEES’ AUCTION

Three Story, Brick
OFFICE BUILDING
9,953± Square Feet ◆ Elevator

Known As
111 CATHEDRAL STREET
Off West Street near Church Circle
Anne Arundel County, MD 21401

– CANCELED –

Sale On Premises
TUESDAY, DECEMBER 21, 2021
AT 11:00 A.M.

      Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust and Security Agreement from Stursa Family Limited Partnership to the Trustees therein, dated November 15, 2006, and recorded among the Land Records of Anne Arundel County, Maryland, in Book RPD 18513, Page 150 (the “Deed of Trust”), the holder of the indebtedness secured thereby having appointed the undersigned to act as Substitute Trustees, in place and stead of the aforementioned Trustees, by instrument duly executed, acknowledged and recorded among the Land Records aforesaid, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Substitute Trustees will sell at Public Auction (Circuit Court for Anne Arundel County Case No. C-02-CV-21-001336), on the premises, the following:

      All that fee simple lot of ground and the improvements thereon, situate and lying in Anne Arundel County, State of Maryland and being more fully described in the above-referenced Deed of Trust. The improvements thereon being known as 111 Cathedral Street, Anne Arundel County, Maryland 21401. SDAT Tax Account No. 06-000-00070704.

      The property is improved by a THREE STORY BRICK OFFICE BUILDING, containing 9,953 square feet of gross building area, situated on a 6,683 square foot lot (0.153 acre), according to public tax records. The building is believed to have been constructed in 1975 and was divided into multiple tenant spaces with a self-service elevator. The property is within walking distance of the County courthouse, Maryland Capital and legislative buildings, the U.S. Naval Academy, Annapolis harbor, shops, restaurants and attractions. A City-owned parking garage is next door.

      The building is believed to be concrete block with brick facade, constructed on a concrete slab.  The structure has aluminum frame windows, a rubber membrane roof, central lobby, two rest rooms on each floor and roof-mounted electric HVAC.  Interior finishes are believed to be drywall, carpeting and vinyl flooring, and acoustical tile ceilings with florescent lighting.  Zoning C-3, commercial.

      NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

      TERMS OF SALE: A $100,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. If necessitate by price, the deposit shall be increased to 10% of the purchase price by 12:00 p.m. on Wednesday, December 22, 2021, at the Auctioneer’s office. The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Anne Arundel County at the offices of the Substitute Trustees. If payment of the balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. Interest to be charged on the unpaid purchase money, at the rate stated in the Note executed in connection with the foreclosed Deed of Trust, from date of contract to date of settlement. If settlement is delayed for any reason, there will be no abatement of interest. All adjustments as of date of contract. Taxes and all other public charges and assessments payable on a monthly or annual basis, including sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the purchaser. The property will be sold in “AS IS” condition, without express or implied warranty as to the nature and description of the improvements as contained herein; and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of contract forward. The purchaser waives and releases the Substitute Trustees, the holder of the indebtedness, the Auctioneers, and their respective agents, successors and assigns from any and all claims the purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Substitute Trustees are unable to convey good and marketable title, the purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Substitute Trustees, the holder of the indebtedness or Auctioneers. Recordation costs, transfer taxes and all other costs incident to settlement to be paid by the purchaser. Time shall be of the essence for the purchaser.

      Authority to cancel this sale rests solely with the Substitute Trustees and/or the Auctioneer. Prospective buyers should disregard all other statements and comments made by any other person or entity regarding minimum bids, pricing and cancellations of the sale. Additional terms may be announced at the time of sale. The Substitute Trustees reserve: (1) the right to accept or reject any or all bids; (2) the right to modify or waive the requirements for bidders’ deposits and terms of sale and/or settlement; (3) the right to withdraw the Property from the sale before acceptance of the final bid; and (4) the right to cancel or postpone the sale.

Gerard F. Miles, Jr. and Henry P. Callegary,
Substitute Trustees

No Buyer’s Premium