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SUBSTITUTE TRUSTEES' SALE OF AN OFFICE CONDOMINIUM IN THE MONTGOMERY VILLAGE OFFICE PARK IN "GAITHERSBURG" (Attached to 18562 Office Park Drive)
18566 Office Park Dr., Gaithersburg, MD 20886
Sale to be held on the premises
The Property is believed to be an approximately 1,043 square foot office condominium located in Gaithersburg, Maryland in the Montgomery Village Office Park. The Property was built in 1987 and is believed to contain one half bath.
All that certain lot or parcel of Land situated, lying and being in Montgomery County, Maryland and being more particularly described as follows (collectively, the "Property"):
Condominium Unit numbered 18566 in a Condominium known as "MONTGOMERY VILLAGE OFFICE PARK CONDOMINIUM" as per plat thereof recorded in Condominium Plat Book 46 at Plats 4734 through and including plat 4737, among the land records of Montgomery County, Maryland being all the land and premises declared to be subject to a horizontal property or condominium regime by Declaration dated November 24, 1987 and recorded November 24, 1987 (erroneously referred to as 2007) in Liber 8034 at folio 362, together with the assigned limited common element parking spaces numbered 1 and 3. The improvements thereon commonly known as 18566 Office Park Drive.
Together with the improvements thereto and the rights and appurtenances thereto belonging or appertaining, and particularly the rights in common with others, in the general and limited common elements of the aforesaid condominium and all other rights and privileges of a Condominium Unit, SUBJECT TO the conditions, limitations, reservations and covenants set forth in the aforesaid Declaration.
Being all and the same real estate conveyed unto V. Joel Hardt and Le Hang Cong Huyen, his wife, by V & V International, LLC a Maryland limited liability company, in a deed dated March 29, 2007 and recorded among the Land Records of Montgomery County, Maryland in Liber 34204, folio 076.
Property Tax ID#:.9-139-2754918
Click Here For The Full Sale Terms In PDF Format
The Property is believed to be an approximately 1,043 square foot office condominium located in Gaithersburg, Maryland in the Montgomery Village Office Park. The Property was built in 1987 and is believed to contain one half bath.
All that certain lot or parcel of Land situated, lying and being in Montgomery County, Maryland and being more particularly described as follows (collectively, the "Property"):
Condominium Unit numbered 18566 in a Condominium known as "MONTGOMERY VILLAGE OFFICE PARK CONDOMINIUM" as per plat thereof recorded in Condominium Plat Book 46 at Plats 4734 through and including plat 4737, among the land records of Montgomery County, Maryland being all the land and premises declared to be subject to a horizontal property or condominium regime by Declaration dated November 24, 1987 and recorded November 24, 1987 (erroneously referred to as 2007) in Liber 8034 at folio 362, together with the assigned limited common element parking spaces numbered 1 and 3. The improvements thereon commonly known as 18566 Office Park Drive.
Together with the improvements thereto and the rights and appurtenances thereto belonging or appertaining, and particularly the rights in common with others, in the general and limited common elements of the aforesaid condominium and all other rights and privileges of a Condominium Unit, SUBJECT TO the conditions, limitations, reservations and covenants set forth in the aforesaid Declaration.
Being all and the same real estate conveyed unto V. Joel Hardt and Le Hang Cong Huyen, his wife, by V & V International, LLC a Maryland limited liability company, in a deed dated March 29, 2007 and recorded among the Land Records of Montgomery County, Maryland in Liber 34204, folio 076.
Property Tax ID#:.9-139-2754918
TERMS OF SALE: A deposit in the amount of Twenty Thousand Dollars ($20,000.00), payable in cash or certified check, will be required of the purchaser of the Property at the time and place of sale. The successful bidder shall be obligated to increase the deposit to ten percent (10%) of the purchase price within seven (7) days of the date of the sale. The balance of the purchase price, together with interest thereon at the rate of ten percent (10%) per annum from the date of sale to the date of settlement, shall be due from the purchaser in cash or by certified check within twenty (20) days following final ratification of the sale by the Circuit Court for Montgomery County, Maryland. Time is of the essence. If ratification or settlement is delayed for any reason there shall be no abatement of interest. Settlement shall be held at the offices of Gebhardt & Smith LLP, One South Street, Suite 2200, Baltimore, Maryland 21202, or such other place as may be agreed to by the Trustees. In the event the Noteholder, or an affiliate or subsidiary thereof, is the successful bidder at the sale, such party will not be required to make a deposit or to pay interest on the unpaid purchase price. The Trustees reserve the right to reject any and all bids, to withdraw the Property from sale, and to extend the time for settlement, if applicable.
All senior liens, real estate taxes, assessments, water charges and municipal charges owed against the Property which are not extinguished as a matter of law by the foreclosure sale, shall be the sole responsibility of the purchaser and shall be paid for by the purchaser at settlement. The cost of all documentary stamps, recordation taxes, document preparation costs, transfer taxes, title examination costs, attorneys' fees and other costs associated with conveying the Property to the purchaser, shall also be the sole responsibility of the purchaser and shall be paid for by the purchaser at settlement.
The Property is being sold in an "AS IS" condition and without any warranties or representations, either express or implied, as to the nature, condition or description of the Property or the improvements thereon. The Property is also being sold subject to: (a) all existing building and zoning code violations and all conditions or hazards which may exist on or with respect to the Property; (b) all critical area and wetland violations; (c) all environmental problems and violations which may exist on or with respect to the Property; (d) all senior liens, encumbrances, easements, conditions, restrictions and covenants; (e) all rights of redemption, (f) such state of facts that an accurate survey or physical inspection of the Property might disclose; and (g) all agreements and restrictions of record affecting the same, if any.
The purchaser at the foreclosure sale shall assume the risk of loss for the Property immediately after the sale takes place. It shall be the purchaser's responsibility to obtain possession of the Property following final ratification of the sale by the Circuit Court for Montgomery County, Maryland and conveyance of the Property by the Trustees to the purchaser.
In the event the purchaser fails to go to settlement as required, in addition to any other legal or equitable remedies available to the Trustees, the Trustees may, without further order of the court, declare the aforementioned deposit forfeited and resell the Property at the purchaser's sole risk and expense. In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price sustained by the Trustees and/or the Noteholder, all costs and expenses of both sales, reasonable attorneys' fees, and any other damages sustained by the Trustees and/or the Noteholder, including, without limitation, all incidental damages. If the Trustees are unable to convey the Property as described above, the purchaser's sole remedy at law or in equity shall be limited to a refund of the aforementioned deposit, without interest thereon. Upon refund of the deposit to the purchaser as aforesaid, the sale shall be void and of no effect, and the purchaser shall have no further claim against the Trustees, the Noteholder or the Auctioneer conducting the sale of the Property. The parties' respective rights and obligations regarding the terms and conduct of the sale shall be governed by the laws of the State of Maryland.
The information contained herein was obtained from sources deemed to be reliable, but it is offered for informational purposes only. The Auctioneer, the Noteholder and the Trustees do not make any representation or warranties with respect to the accuracy of this information.
All senior liens, real estate taxes, assessments, water charges and municipal charges owed against the Property which are not extinguished as a matter of law by the foreclosure sale, shall be the sole responsibility of the purchaser and shall be paid for by the purchaser at settlement. The cost of all documentary stamps, recordation taxes, document preparation costs, transfer taxes, title examination costs, attorneys' fees and other costs associated with conveying the Property to the purchaser, shall also be the sole responsibility of the purchaser and shall be paid for by the purchaser at settlement.
The Property is being sold in an "AS IS" condition and without any warranties or representations, either express or implied, as to the nature, condition or description of the Property or the improvements thereon. The Property is also being sold subject to: (a) all existing building and zoning code violations and all conditions or hazards which may exist on or with respect to the Property; (b) all critical area and wetland violations; (c) all environmental problems and violations which may exist on or with respect to the Property; (d) all senior liens, encumbrances, easements, conditions, restrictions and covenants; (e) all rights of redemption, (f) such state of facts that an accurate survey or physical inspection of the Property might disclose; and (g) all agreements and restrictions of record affecting the same, if any.
The purchaser at the foreclosure sale shall assume the risk of loss for the Property immediately after the sale takes place. It shall be the purchaser's responsibility to obtain possession of the Property following final ratification of the sale by the Circuit Court for Montgomery County, Maryland and conveyance of the Property by the Trustees to the purchaser.
In the event the purchaser fails to go to settlement as required, in addition to any other legal or equitable remedies available to the Trustees, the Trustees may, without further order of the court, declare the aforementioned deposit forfeited and resell the Property at the purchaser's sole risk and expense. In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price sustained by the Trustees and/or the Noteholder, all costs and expenses of both sales, reasonable attorneys' fees, and any other damages sustained by the Trustees and/or the Noteholder, including, without limitation, all incidental damages. If the Trustees are unable to convey the Property as described above, the purchaser's sole remedy at law or in equity shall be limited to a refund of the aforementioned deposit, without interest thereon. Upon refund of the deposit to the purchaser as aforesaid, the sale shall be void and of no effect, and the purchaser shall have no further claim against the Trustees, the Noteholder or the Auctioneer conducting the sale of the Property. The parties' respective rights and obligations regarding the terms and conduct of the sale shall be governed by the laws of the State of Maryland.
The information contained herein was obtained from sources deemed to be reliable, but it is offered for informational purposes only. The Auctioneer, the Noteholder and the Trustees do not make any representation or warranties with respect to the accuracy of this information.
Click Here For The Full Sale Terms In PDF Format
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Note: The information contained herein was obtained from sources deemed reliable, but is offered for informational purposes only. The Auctioneer, the Sellers, and their respective agents and representatives do not make any representations or warranties with respect to the accuracy of the information contained herein. Prospective purchasers are urged to make their own inspection.
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