Paul J. Cohen, Solicitor
CIPRIANI & WERNER PC
6411 Ivy Lane, Suite 600
Greenbelt, MD 20770
SUBSTITUTE TRUSTEE’S AUCTION
Located In Deale
950 MARZOFF ROAD
Anne Arundel County, MD 20751
Sale to Be Held
Circuit Court for Anne Arundel County
8 Church Circle, Annapolis, MD 21401
WEDNESDAY, MAY 22, 2019
AT 11:00 A.M.
Under and by virtue of the power of sale contained in a certain Purchase Money Deed of Trust from 950 Marzoff Road, LLC to the Trustees therein, dated October 18, 2017, and recorded among the Land Records of Anne Arundel County, Maryland, in Liber 31477, Page 20 (the “Deed of Trust”), the holder of the indebtedness secured thereby having appointed the undersigned to act as Substitute Trustee, in the 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 Trustee will sell at Public Auction, at the courthouse as noted above, the following:
All that fee simple lot of ground, situate and lying in Anne Arundel County, State of Maryland and being more fully described as follows:
BEING KNOWN AND DESIGNATED as Lot No. 1, as shown on the plats entitled, “Minor Subdivision Plat, NEW DEALE BEACH PROJECT INC.,” which plats are recorded among the Land Records of Anne Arundel County, Maryland in Plat Book 159, pages 49 and 50.
The lot is unimproved, partially wooded and comprises 0.74 acre of land, approximately 134′ by 207′, zoned R5, residential. A private well is required. Public sewer may be available.
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 adjacent lot at 956 Marzoff Road will be sold immediately afterwards.
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 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 defaulting 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.
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
Paul J. Cohen, Substitute Trustee