"Waldorf"

Protas, Spivok & Collins, LLC
4330 East West Highway – Suite 900
Bethesda, MD 20814

SUBSTITUTE TRUSTEES’ AUCTION

WALDORF

TWO ADJOINING
COMMERCIAL PROPERTIES
3.15± Total Acres ✦ Zoned CC

– Individual and Entirety Offerings –

Known As
2380 & 2400
OLD WASHINGTON ROAD
Waldorf, Charles County, MD 20601

Sale to Be Held At Courthouse Door
CIRCUIT COURT FOR CHARLES COUNTY
200 Charles Street, La Plata, MD 20646

WEDNESDAY, FEBRUARY 1, 2023
AT 12:00 P.M.

      Under and by virtue of the power of sale contained in a certain Purchase Money Deed of Trust, Security Agreement and Fixture Filing with Assignment of Leases and Rents, dated September 13, 2019, and recorded among the Land Records for Charles County, Maryland at Book 10867, Page 420 and amended by that first Amendment Purchase Money Deed of Trust, Security Agreement and Fixture Filing with Assignment of Leases and Rents, dated November 27, 2019, and recorded among the Land Records for Charles County, Maryland on January 6, 2020, at Book 10940, Page 178 from Monster Investments, Inc. to the Trustees therein, 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 (in the Circuit Court for Charles County, Case No. C-08-CV-22-000836), the undersigned Substitute Trustees will sell at Public Auction, at the Courthouse, the following:

      All those fee simple lots of ground and the improvements thereon, situate and lying in Charles County, State of Maryland and being more fully described in the above-referenced Deed of Trust;

      Parcel One – 2380 Old Washington Road – Lot size: 0.603 acre, more or less, according to public tax records. The property is believed to be improved by a Cape Cod style house containing 1,294 square feet of living area and a detached garage. Believed to be zoned CC – Community Commercial.

      Parcel Two – 2400 Old Washington Road – Lot size: 2.55 acres, more or less, according to public tax records. The property is believed to be improved by a two story building (former American Legion Post #293), containing 6,975 square feet of gross building area, which has been substantially damaged by fire. Believed to be zoned CC – Community Commercial. This parcel is sold subject to a prior Indemnity Deed of Trust, dated August 16, 2016, in the original principal amount of $217,664, with an approximate balance of $170,000, plus interest, costs and fees thereon through settlement. 

      MANNER OF SALE: First Offering – 2400 Old Washington Road will be offered individually and the bid reserved, deposit $50,000. Second Offering – 2380 Old Washington Road will be offered individually and the bid reserved, deposit $25,000. Third Offering – Both parcels will be offered together as an entirety, deposit $75,000. The sale will be made in the manner producing the greater amount.

      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: Deposits, as stated above, payable by cashier’s check, will be required of the purchaser(s) at time and place of sale. The deposit(s) shall be increased to 10% of the purchase price by 12:00 p.m. on Thursday, February 2, 2023 at the Auctioneer’s office (wiring instructions will be provided and a personal or business check will be accepted for the additional deposit at the auction site). 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 Charles 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 or 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.

Jordan M. Spivok,
Philip J. Collins, Substitute Trustees

No Buyer’s Premium