"Forest Park"

Bob Van Galoubandi, Trustee
1777 Reisterstown Road, Suite 375
Baltimore, Maryland 21208

TRUSTEE’S AUCTION

FOREST PARK

2 – FOUR-UNIT
APARTMENT BUILDINGS

To Be Offered Individually
And As An Entirety

Known As
4001 & 4003
BONNER ROAD
Baltimore, MD 21216

Sale On Premises
WEDNESDAY, JULY 12, 2023
AT 11:00 A.M.

      Under and by virtue of the power of sale contained in a certain Purchase Money Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing from Patamatt, LLC to the Trustees therein, dated December 10, 2020, and recorded among the Land Records of Baltimore City, Maryland, in Liber 22815, folio 416 and re-recorded in Liber 25477, folio 73 (the “Deed of Trust”), default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Trustee will sell at Public Auction (In the Circuit Court for Baltimore City, Case No. 24O23000498), on the premises, the following:

      All that those fee simple lots of ground and the improvements thereon, situate and lying in Baltimore City, State of Maryland and being more fully described in the above-referenced Deed of Trust.  The improvements thereon being known as 4001 and 4003 Bonner Road, Baltimore City, Maryland 21216.

      4001 Bonner Road is improved by two story frame apartment building, constructed in 1915, comprising 4,698 square feet of gross building area above grade and 2,336 square feet of basement space, zoned R-6, residential, according to public tax records.  The building is believed to contain 4 two-bedroom and bath apartment units, each with gas forced air heat, central air conditioning and balcony.  Lot size 47′ x 111’4″, corner Wolcott Avenue.

      4003 Bonner Road is improved by two story frame apartment building, constructed in 1915, comprising 4,698 square feet of gross building area above grade and 2,336 square feet of basement space, zoned R-6, residential, according to public tax records.  The building is believed to contain 4 two-bedroom and bath apartment units, each with gas forced air heat, central air conditioning and balcony.  Lot size 53′ x 125′.

      Approximately 7 of 8 units are believed to be rented for approximately $1,000 per month.  Copies of current and expired leases may be downloaded from the Auctioneer’s web site – www.ajbillig.com, after execution of a Waiver and Confidentiality agreement.  Additional property information may also be posted on the web site.

      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.

      MANNER OF SALE: Each building will be offered individually and the highest bid reserved.  Then both properties will be offered as an entirety.  The sale will be made in the manner producing the greater amount.

      TERMS OF SALE:  A $20,000 deposit on each building or $40,000 if sold as an entirety, 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 Baltimore City at a location designated by the Trustee.  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 of 10% per annum from date of contract to the 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, rents 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; subject to easements, agreements, restrictions or covenants of record affecting same, if any; subject to the rights of existing tenants in possession of all or part of the property, if any; and subject to housing and/or building violation notices, 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 Trustee, 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 Trustee 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 Trustee, 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 Trustee 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 Trustee 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

Bob Van Galoubandi, Trustee

TAXES:
4001 Bonner Road – published annual real estate taxes are $7,262, based on a full value assessment of $317,100.

4003 Bonner Road – published annual real estate taxes are $7,278, based on a full value assessment of $317,800