Ronald B. Katz, P.A., Solicitors
11403 Cronridge Drive – Suite 230
Owings Mills, MD 21117
SUBSTITUTE TRUSTEE’S AND
SECURED CREDITOR’S AUCTION
“The One Sports Bar & Lounge”
BRICK RESTAURANT BUILDING
7-DAY LIQUOR LICENSE
FURNITURE, FIXTURES AND EQUIPMENT
Sale On Premises
4314-4316 CURTIS AVENUE
Corner Hazel Street
Baltimore, MD 21226
WEDNESDAY, SEPTEMBER 9, 2020
AT 1:00 P.M.
Under and by virtue of the power of sale contained in a certain Deed of Trust from Curtis 4314, LLC to the Trustee therein, dated September 8, 2017, and recorded among the Land Records of Baltimore City, Maryland, in Liber MB No. 19549, Page 0441, the holder of the indebtedness secured thereby having appointed the undersigned to act as Substitute Trustee, in place and stead of the aforementioned Trustee, by instrument duly executed, acknowledged and recorded among the Land Records aforesaid; and Pursuant to a Financing Statement and Security Agreement by and between The One Sports Bar & Lounge, LLC and Steven Stansbury, II, Debtors to the Secured Party, recorded among the Financing Records of the Maryland Department of Assessments and Taxation on September 12, 2017, File I.D. No. 170912-1239000; default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Substitute Trustee and Secured Party will sell at Public Auction, on the premises, the following:
All 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 property is rectangular, fronting 100′ along the west side of Curtis Avenue and 87′ along the north side of Hazel Avenue, comprising 8,700 square feet of land. Zoning C-2, commercial. All public utilities. Asphalt paved parking lot for approximately 15 cars, with ample on-street parking.
The property is improved by a one and two story brick building, containing approximately 6,170 square feet of building area, according to public tax records. Built-up roof was installed in 2016. The building is believed to contain a large bar and lounge, secondary bar and lounge, commercial kitchen, office, storage room, 3 rest rooms, gas forced air heat and central air conditioning. The second floor formerly contained an apartment of 4 rooms and full bath.
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.
7- Day Liquor License
7-Day, Type LB, Beer, Wine and Liquor Restaurant License. The transfer of this liquor license is subject to the approval of the Board of Liquor License Commissioners of Baltimore as in the case of an original application, and it shall be the sole responsibility of the purchaser to obtain said approval. In addition, in line with Article 2B of the Annotated Code of Maryland, any tangible personal property taxes, retail sales, amusement, admission and/or withholding taxes must be paid to the City of Baltimore and/or State of Maryland.
Furniture, Fixtures & Equipment
All bar and kitchen equipment, furniture and fixtures, owned by the Debtors and used in connection with the operation of The One Sports Bar & Lounge, will be offered in one lot as an entirety.
Manner and Terms of Sale
MANNER OF SALE: First, the Real Estate will be offered and the bid reserved. Second, the Liquor License will be offered and the bid reserved. Third, the Furniture, Fixtures and Equipment will be offered and the bid reserved. Fourth, all of the assets under the first three offerings will be offered as an entirety. The sale will be made in the manner producing the greater amount.
TERMS OF SALE: Deposits, as stated above or $20,000 if sold as an entirety, payable by cashier’s check, will be required of the purchaser(s) at time and place of sale. 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.
Real Estate or Entirety Purchaser – 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 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 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 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.
Liquor License and Furniture, Fixtures and Equipment (if sold separately from the Real Estate) – balance in full is due within 24 hours of the auction, time being of the essence.
Financing May Be Available – The terms of which, if any, will be announced at time of sale.
No Buyer’s Premium
Ronald B. Katz, Substitute Trustee
and Attorney for Secured Party