"Crofton - Meadowcroft Condominium"

Oliveri & Associates, LLC
635 N. Bestgate Road – Suite 200
Annapolis, MD 21401

TRUSTEES’ AUCTION

“Meadowcroft Condominium”

TWO STORY TOWNHOUSE
CONDOMINIUM UNIT
3 Bedrooms ◆ 2.5 Baths

Known As
1710 W. BANCROFT LANE
Anne Arundel County, MD 21114

Sale On Premises
THURSDAY, JANUARY 9, 2020
AT 10:00 A.M.

      By virtue of a Decree for Sale of Premises of the Circuit Court for Anne Arundel County, passed in the matter of The Meadowcroft Condominium, Petitioner v. Franklin L. Cook and/or Estate of Franklin L. Cook, Respondent, Case No. C-02-CV-19-2564, the undersigned Trustees will sell at public auction on the premises, the following:

      All that fee simple condominium unit, situate and lying in Anne Arundel County, State of Maryland and being more fully described in the Deed to the above Respondent, dated February 5, 1991, and recorded among the Land Records of Anne Arundel County in Liber 5263, folio 613.

      According to public tax records, the unit was built in 1978 and contains 1,404 square feet of living area. The improvements are believed to comprise a two story vinyl siding townhome, containing a living room, dining room, kitchen, 3 bedrooms and 2.5 baths, electric heat pump and central air conditioning, rear sun deck.

      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.

      The property will be sold subject to a prior Deed of Trust, dated October 12, 2010, recorded among the Land Record aforesaid in Liber 22720, folio 10, in the original principal amount of $100,000. The approximate amount due thereon may be announced at time of sale.

      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 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 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 8% per annum, 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; subject to easements, agreements, restrictions or covenants of record affecting same, if any; and subject to the Declaration and By-Laws of the Meadowcroft Condominium, Inc. 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 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 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 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 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 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.

No Buyer’s Premium

John M. Oliveri and Timothy L. Larsen, Trustees