"Elkton"

This auction has been CANCELED.

Shapiro, Sher, Guinot & Sandler
250 W. Pratt Street, 20th Floor
Baltimore, Maryland 21201
410-385-0202

SUBSTITUTE TRUSTEES’ AUCTION

Two Story Brick
COLONIAL HOME
4 Bedrooms ◆ 2.5 Baths ◆ Garage
In-Ground Swimming Pool & Pool House

Known As
2 WINDING WAY
& Unimproved Adjacent Lot on Ricketts Mill Road
Cecil County, MD 21921
(Tax ID Nos. 03-004384 and 03-004392)

      Under and by virtue of the power of sale contained in a certain Deed of Trust from Judy Burkley, dated March 20, 2008, and recorded among the Land Records of Cecil County, Maryland (“Land Records”) at Liber 2493, Folio 343 (the “Deed of Trust”), the holder of the indebtedness secured thereby (the “Noteholder”) having appointed J. Patrick Gill, Scott W. Foley, and Joseph A. Pulver as Substitute Trustees (collectively, the “Substitute Trustees”) by instrument duly executed, acknowledged and recorded among Land Records, default having occurred under the terms of said Deed of Trust and at the request of the Noteholder, the Substitute Trustees will offer for sale at the premises, 2 Winding Way, Elkton, Maryland, on:

WEDNESDAY, SEPTEMBER 20, 2017
AT 11:00 A.M.

      ALL THAT FEE SIMPLE LOT OF GROUND AND THE IMPROVEMENTS THEREON, situate and lying in Cecil County, Maryland and being more fully described in the aforementioned Deed of Trust.

      The property is believed to consist of two contiguous lots, 1.58 acres and 0.32 acres respectively, with a total lot size of 1.90 acres of land. The improvements are believed to consist of a two-story brick center hall colonial home, built in 1964, containing 3,208 square feet of above-ground living area, 735 square feet of finished basement space, and a 673 square foot garage.

      The home is believed to contain a two-story foyer, living room with wood burning fireplace, dining room, eat-in kitchen with granite countertops, den/library/study, and laundry on the first floor; master bedroom with walk-in closet and master bath, three additional bedrooms and hall bath on the second floor; hardwood floors throughout; finished basement; two-car attached garage; in-ground swimming pool and pool house; circular driveway; zoned oil hot water heat; central air conditioning; paver patio and split-rail fencing.

      NOTE: The information contained herein and made available on the Auctioneer’s web site has been obtained from sources deemed reliable and is believed to be substantially accurate, but is offered for informational purposes only. The Auctioneer, the Substitute Trustees, and the Noteholder make no representations or warranties with respect to the accuracy of the information contained herein or in any of the information and materials made available to prospective purchasers and no express or implied warranties or representations may be inferred. All dimensions, square footage, acreage and other measurements, if any, are approximate. Building area shown is approximate. Prospective purchasers are encouraged to perform their own due diligence in advance of the auction regarding the property, zoning, existing structures and improvements thereon and the permitted uses thereof.

      TERMS OF SALE: The property shall be sold as an entirety. $30,000 deposit, payable by certified check or cashier’s check, will be required of the purchaser at the time and place of sale. The deposit must be increased to 10% of the purchase price within two (2) business days after the sale, and delivered to the office of the Substitute Trustees in the same form as the initial deposit. Balance of the purchase price to be paid in immediately available funds at settlement, which shall take place within twenty (20) business days following final ratification of the sale by the Circuit Court for Cecil County at the offices of the Substitute Trustees, or at such other location as the Substitute Trustees may permit. If payment of the balance does not take place within the specified time (unless said time is extended by the Substitute Trustees for good cause shown), in addition to any other legal or equitable remedies available to the Substitute Trustees and the Noteholder, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. The defaulting purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property. Interest shall be charged on the unpaid purchase money, at the rate stated in the Note secured by the foreclosed Deed of Trust, from date of sale to the date of settlement. If settlement is delayed for any reason, there will be no abatement of interest. In the event that the Noteholder, or an affiliate thereof, is the successful bidder at the sale, such party will not be required to tender a deposit or pay interest on the unpaid purchase money.

      The property will be sold in “AS IS” condition with “ALL FAULTS”, and without any recourse, representations, or warranties, express or implied, as to the nature, condition, value, use or description of the property or the improvements thereon. The purchaser is responsible for, and the property is sold subject to, any and all environmental violations, matters, problems, conditions or hazards, whether latent or observable, if any, that may exist at or affect or relate to the property and to any governmental requirements affecting the same, nuisances, violation notices, building code violations, zoning code violations, critical area and wetland violations, encumbrances, easements, equitable servitudes, conditions, rights of way, restrictions, rights of redemption, covenants, declarations, agreements, restrictions of record, liens and encumbrances affecting the property that are not extinguished by operation of law by the sale. In addition, the property is being sold subject to such state of facts that an accurate survey or physical inspection of the property might disclose. 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 sale forward. The purchaser waives and releases the Substitute Trustees, the Noteholder, the Auctioneer, 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 a refund of the deposit. Upon refund of the deposit the sale shall be null and void and of no further force or effect, and the purchaser shall have no further claim against the Substitute Trustees, the Noteholder, or the Auctioneer. All taxes, ground rent, water and sewer, homeowner association charges, and all other public and private charges and assessments including, without limitation, paving, sanitary and/or metropolitan district charges due or payable at the time of settlement shall be borne by the purchaser and paid for by the purchaser at settlement. In addition, the cost of all documentary stamps, state and local transfer taxes, recordation taxes and fees, title examination costs incurred by the purchaser’s settlement agent, the purchaser’s own attorneys’ fees, conveyance fees, and all other incidental settlement costs, shall also be the responsibility of the purchaser and shall be paid for by the purchaser at settlement. The conveyance of the property by the Substitute Trustees shall be by Trustees’ Deed without covenant or warranty. Time shall be of the essence for the purchaser.

      Authority to cancel this sale rests solely with the Substitute Trustees, the Noteholder 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 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.

J. Patrick Gill, Scott W. Foley
and Joseph A. Pulver,
Substitute Trustees