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Jordan M. Spivok, Solicitor
Protas, Spivok & Collins, LLC
4330 East West Highway, Suite 900
Bethesda, Maryland 20814
SUBSTITUTE TRUSTEES’ AUCTION
– On 2± Acres –
4,195± Sq. Ft. ◆ Barn ◆ Garages
13400 QUERY MILL ROAD
Montgomery County, MD 20878
Sale to be Held
CIRCUIT COURT FOR MONTGOMERY COUNTY
50 MARYLAND AVENUE
ROCKVILLE, MARYLAND 20850
Directions from Google Maps
THURSDAY, SEPTEMBER 28, 2017
AT 10:15 A.M.
Under and by virtue of the power of sale contained in a certain Deed of Trust (the “Deed of Trust”) from Borrowers to the Trustees therein, dated August 27, 2007, and recorded among the Land Records of Montgomery County, Maryland, on September 7, 2007, in Liber 34810, Page 574 , the holder of the indebtedness secured thereby having appointed the undersigned to act as Substitute Trustees, in 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 Trustees will sell at Public Auction, at the Circuit Court for Montgomery County Courthouse, the following:
All that fee simple lot of ground and the improvements thereon, situate and lying in Montgomery County, State of Maryland and being more fully described in the above-referenced Deed of Trust.
The improvements are believed to comprise a one and one-half story custom colonial home. The home was constructed in 1985, contains 4,195 square feet of living area, 3,635 square feet of partially finished basement space and attached garage, according to public tax records. The home is believed to feature an open floor plan, two story entry foyer, updated kitchen with ceramic tile floors, large windows, hardwood floors, composition shingle roof and is arranged for 5 bedrooms, 4 full bathrooms and 2 half bathrooms. Lot size: 2.00 acres, more or less. Large rear decks and central courtyard. Asphalt circular driveway with additional parking area. Barn and detached garage.
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 $50,000 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 Montgomery County at the offices of the undersigned Substitute Trustees. If payment of the balance does not take place within the specified time, the deposit shall be forfeited or 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 (or modification thereof), 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. Adjustment of current year’s real property taxes are adjusted as of the date of contract, and thereafter assumed by the purchaser. All other public and/or private charges or assessments, to the extent such amounts survive foreclosure sale, including water/sewer charges, ground rent, whether incurred prior to or after the sale are to be paid 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.
Authority to cancel this sale rests solely with the Substitute 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 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.
No Buyer’s Premium
Jordan M. Spivok and Philip J. Collins