"East Baltimore - McElderry Park"

This Auction has been CANCELED.

Cohen and Forman, LLC
334 St. Paul Place
Baltimore, MD 21202

SUBSTITUTE TRUSTEES’ AUCTION

“McElderry Park”

Two Story, Brick, Corner
STOREFRONT BUILDING
2,112± Sq. Ft. ◆ Zoned C-1

Sale On Premises
2401 E. MONUMENT STREET
Corner Montford Avenue
Baltimore, MD 21205

– CANCELED –
WEDNESDAY, APRIL 24, 2019
AT 2:00 P.M.

      Under and by virtue of the power of sale contained in a certain Purchase Money Deed of Trust, Assignment of Rents, Security Agreement and Financing Statement from 2401 E. Monument Street, LLC to the Trustee therein, dated January 13, 2017, and recorded among the Land Records of Baltimore City, Maryland, in Book 18864, Page 388 (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 Trustee, 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 lot 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; lot size 18′ x 66′, more or less.

      The property is improved by a two story, brick, end-of-group storefront building, constructed in 1890, containing 2,112 square feet of building area, and zoned C-1, commercial, according to public tax records. The property is located in the Monument Street commercial district near Johns Hopkins Hospital.

      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.

      TERMS OF SALE: A $7,500 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 Baltimore City at the offices of the Substitute Trustees. 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 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.

No Buyer’s Premium

David H. Cohen, W. Scott Tinney, IV
Substitute Trustees