This Auction has been CANCELED.
Jordan M. Spivok, Solicitor
Protas, Spivok & Collins, LLC
4330 East West Highway, Suite 900
Bethesda, Maryland 20814
SUBSTITUTE TRUSTEES’ AUCTION
FLEX INDUSTRIAL SPACE
2,674± SF ◆ Zoned I-2
Sale on Premises
10101 BACON DRIVE
Units 5, 10, 18, 23
Prince George’s County, MD 20705
– CANCELED –
TUESDAY, APRIL 27, 2021
AT 11:00 A.M.
Under and by virtue of the power of sale contained in a certain Deed of Trust, Security Agreement and Assignment of Contracts Leases and Rents from Mary Frances Andrews and Tracie Andrews, Trustees of The Fresh Beginning Trust U/D/T dated August 7, 2014, Grantor to the Trustees therein, dated February 14, 2019, and recorded among the Land Records of Prince George’s County, Maryland, in Liber 42019, folio 1 (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, on the premises, the following:
All that fee simple condominium property, situate and lying in Prince George’s County, State of Maryland and being more fully described as follows:
BEING KNOWN AND DESIGNATED as Condominium Units 5, 10, 18 & 23 of “EWCON CONDOMINIUM” established pursuant to the Horizontal Property Act of Maryland, as shown on Plats Recorded in Plat Book N.L.P. at Plats 55, 56, 57 and amended by Plat recorded in Plat Book N.L.P. 112 at Plat 95 and Declaration dated March 2, 1982 and recorded in Liber 5508 at Folio 710 of the Land Records of Prince George’s County, Maryland, and first amendment to declaration recorded March 17, 1982 at Liber 5512 at Folio 2299 among the Land Records. Property address 10101 Bacon Drive, Units 5, 10, 18 and 23, Beltsville, MD 20705.
The improvements are believed to comprise a one story masonry industrial building, constructed in 1982, with multiple occupants. The subject units are located on the east side of the building, with pedestrian door and access to a loading dock. The units comprise approximately 2,674 square feet of gross building area and may currently be used as office space.
TERMS OF SALE: A $10,000 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 by 11:00 a.m. the next business day at the Auctioneer’s Office, by cashier’s check or wire transfer. 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 Prince George’s County at a location designated by 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, condominium fees, 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, and subject to the Declaration, By-Laws, Rules and Regulations of the EWCON Condominium. 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.
Jordan M. Spivok and Philip J. Collins,