"Parkville"

County Approved
RESIDENTIAL
SUBDIVISION
8 Single Family Homesites

Known As
2825 CUB HILL ROAD
Between Harford & Old Harford Road
Baltimore County, MD 21234

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.

GENERAL INFORMATION:
2825 Cub Hill Road comprises 3.09 acres. The property is approved for an eight lot subdivision, situated on a cul de sac to be known as Aslan Court. Lot sizes range from 6,061 square feet to 10,379 square feet. Several home builders have expressed an interest in purchasing the finished lots.

Available due diligence material includes:

• Baltimore County Letter of Approval
• Administrative Law Judge’s Development Plan Opinion & Order
• Development Plan prepared by Bohler Engineering
• Report of Subsurface Exploration, Laboratory Testing and Geotechnical Engineering Analysis, prepared by ECS Mid-Atlantic, LLC.

Please complete the Waiver and Confidentiality Agreement form to receive the due diligence information.

LOCATION:
The property is situated in the Parkville area of northeastern Baltimore County, east of Old Harford Road and west of Harford Road, approximately two miles north of the Baltimore Beltway (I-695). The property is located adjacent to Reservoir Hill, a new home community constructed in 2004, with homes reselling in the $500,000s. The surrounding area is a mixture of housing types, styles and ages. Few development parcels are available in Parkville. The community business districts are two miles south along E. Joppa Road at Perring Parkway, and approximately one-half mile east along Harford Road (MD-147). Nearby public schools are Pine Grove Elementary, Pine Grove Middle and Loch Raven High, according to the Baltimore County Public Schools web site.

SITE:
3.09 acres, fronting approximately 204′ along the south side of Cub Hill Road by a depth of approximately 588′.

Plat

Utilities – Public water, public sewer are at the site. Electricity, natural gas and telephone/internet are in the adjoining property.

Zoning – the majority of the site is DR 3.5, with the balance DR 5.5, residential

The property is fairly level and is clear on the north side and lightly wooded with small trees on the south side. An old asphalt driveway leads from Cub Hill Road into the property.

IMPROVEMENTS:
The property is currently improved by a two and one-half story frame home, built in 1906 and comprising 3,400 square feet of living area, according to public tax records. The house is in poor condition and would be razed per the development plan.

TITLE:
The property is in fee simple and sold free and clear of liens. Baltimore County Deed Book JLE 36206, Page 192. The final plat has not been recorded, as the developer wanted to avoid increased real estate taxes.

TAX INFORMATION:
The property is known as Parcel 227, on Baltimore County Tax Map 62. Tax account no. 0901351731. Published annual real estate taxes are $3,183, based on a full value assessment of $188,900.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or 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 of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on a monthly or annual basis, and 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, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of contract forward. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. The Purchaser waives and releases the Seller, 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 Seller 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 Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law. Time is of the essence.

No buyer’s premium.