Click 'AJ' icon to access map directions.
Ronald B. Katz, P.A.
11403 Cronridge Drive – Suite 230
Owings Mills, MD 21117
SUBSTITUTE TRUSTEES’ AUCTION
3 – PROFESSIONAL OFFICE
Total 3,015± Square Feet ◆ Zoned ML-IM
Sale On Premises
5430 CAMPBELL BOULEVARD
UNITS 202, 203 & 204
Baltimore County, MD 21162
FRIDAY, OCTOBER 5, 2018
AT 10:00 A.M.
Under and by virtue of the power of sale contained in a certain Purchase Money Indemnity Deed of Trust, Security Agreement and Assignment of Contracts, Leases and Rents from 5430 Campbell Boulevard Unit 106 Land Trust to the Trustees therein, dated August 11, 2015, and recorded among the Land Records of Baltimore County, Maryland, in Book 36533, Page 370 (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 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, on the premises, the following:
All those fee simple condominium units, situate and lying in Baltimore County, State of Maryland and being more fully described in the above-referenced Deed of Trust.
The three second floor units are contiguous, have separate heat pump/central air conditioning systems, rest rooms, meters and entrances. Interior finishes are typically drywall, carpeting and florescent lighting. 5430 Campbell Boulevard is a three story brick office building, constructed in 2008, containing 29 units, two elevators, lobby and ample parking, situated on a 2.444 acre campus.
The units comprise:
Unit 202 – 978 square feet of gross building area, currently leased to CBC National Bank, under a one-year lease, dated January 1, 2018 at a base rental of $1,375/month. Lease for Unit 202
Unit 203 – 1,069 square feet of gross building area, currently vacant.
Unit 204 – 968 square feet of gross building area, currently leased to Restoration Behavioral Health Systems, LLC, under a five-year, two-month lease, dated May 15, 2017 at a base rental of $1,675/month. Lease for Unit 204
NOTE: Leases are voidable at the option of the purchaser and may be viewed. The units will be sold subject to prior condominium liens of $1,200 per unit. 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 $10,000 deposit on each unit or $30,000 if sold as an entirety, 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 by 10:00 A.M., Monday, October 8, 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 County. 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 sale to date of settlement. All adjustments as of date of sale. Taxes, rents 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 sale 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 sale 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
Ronald B. Katz and Eric A. Hartlaub,