"Pasadena"

This auction has been POSTPONED

ASSIGNEE’S AUCTION

AUTOMOTIVE BUILDING
ON 1.917± ACRES

Sale On Premises
4108 MOUNTAIN ROAD
Anne Arundel County, MD 21122

– POSTPONED –
WEDNESDAY, JUNE 5, 2019
AT 1:00 P.M.

      Under and by virtue of the power of sale contained in a certain Mortgage from Gary Clinton Simmont, dated March 17, 2009, and recorded among the Land Records of Anne Arundel County, Maryland, in Liber 20876, Page 421 (the “Mortgage”), said Mortgage having been assigned to Paul J. Cohen, Esquire for foreclosure purposes, at Liber 32516, Page 426, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Assignee will sell at Public Auction, on the premises, the following:

      All that fee simple lot of ground, situate and lying in Anne Arundel County, State of Maryland and being more fully described as follows:

      BEING KNOWN AND DESIGNATED as the “Residue” Lot, containing 1.917 acres of land, more or less, as shown on a Plat entitled “COOKIES KITCHEN”, Plat No. 6843, as recorded among the Plat Records of Anne Arundel County in Plat Book No. 131 Page 20. The improvements thereon being known as No. 4108 Mountain Road.

      According to public records, the property is improved by a one-story building containing 2,816 square feet of gross building area and arranged as a service garage. The building is believed to have multiple roll-up doors, and contain automotive repair, office and storage areas. The property is believed to be fenced, featuring a parking area for 20+ vehicles and a commercial sign on Mountain Road. According to the Anne Arundel County Zoning GIS map, the lot is zoned C2, commercial, and R2, residential. The property is alternatively known as Tax Map 17, Grid 22, Parcel 146 and Anne Arundel County Tax ID: 300090043190.

      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 $20,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours 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 a location designated by the Assignee. 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 defaulting purchaser. Interest to be charged on the unpaid purchase money, at the rate stated in the Note executed in connection with the foreclosed Mortgage, 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 Assignee, 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 Assignee is 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 Assignee, 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 Assignee 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 Assignee reserves: (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.

No Buyer’s Premium

Paul J. Cohen, Assignee