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Sloane B. O’ Donnell, Solicitor
FROST BROWN TODD LLC
Union Trust Building – Suite 800
501 Grant Street
Pittsburgh, PA 15219
SUBSTITUTE TRUSTEE’S AUCTION
6 – OFFICE
Comprising Two Suites
Total 5,944± Square Feet
Sale On Premises
7700 OLD BRANCH AVENUE
Units C201, C202, C203, C204
D201 and D202
S.D.S. Square Condominium
Prince Georges County, MD 20735
WEDNESDAY, APRIL 13, 2022
AT 11:30 A.M.
Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust from Marray, LLC to the Trustees therein, dated December 13, 2016, and recorded among the Land Records of Prince Georges County, Maryland, in Book SJH 39838, Page 17 (the “Deed of Trust”), the holder of the indebtedness secured thereby having appointed the undersigned to act as Substitute Trustee, 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 Prince Georges County, Civil Action No. CAEF21-01616), the undersigned Substitute Trustee will sell at Public Auction, on the premises, the following:
All those condominium units, situate and lying in Prince Georges County, State of Maryland and being more fully described in the above referenced Deed of Trust.
The units are located on the second floor of two story brick buildings, constructed in 1982, with elevator access, and comprise:
Unit C201 – 844 sf, Unit C202 – 1,141 sf, Unit C203 – 1,427 sf, Unit C204 – 844 sf; total 4,256 sf.
Unit D201 – 844 sf, Unit D202 – 844 sf; total 1,688 sf.
The buildings have ample common area parking. 7700 Old Branch Avenue is located approximately two miles south of the Capital Beltway (I-495), near Joint Base Andrews. Public tax records indicate that the property is located in a CM (commercial miscellaneous) zoning district.
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 (sf) 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: First Offering – Units C201-C204 will be offered and the bid reserved, required deposit $20,000. Second Offering – Units D201-D202 will be offered and the bid reserved, required deposit $10,000. Third Offering – Units C-201-C204 and D201-D202 will be offered as an entirety, required deposit $30,000. The sale will be made in the manner producing the greater amount.
TERMS OF SALE: Deposit(s), as stated above under Manner of Sale, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit(s) 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 Prince Georges County at a location designated by the Substitute 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 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 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, including the Declaration, By-Laws, Rules and Regulations of the S.D.S. Square 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 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 Substitute 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 Substitute 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 Substitute 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 Substitute 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
Sloane B. O’Donnell, Substitute Trustee