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SUBSTITUTE TRUSTEES' SALE OF VALUABLE COMMERCIAL PROPERTY AND SECURED CREDITOR'S SALE OF FURNITURE, FIXTURES AND EQUIPMENT IN THE REMINGTON AREA
300 W. 23rd St., Baltimore, MD 21211
Sale to be held on the premises
Sale of Real Property: The Real Property is believed to contain approximately 2.39 acres of land, more or less and is believed to be improved with a 14,000 square foot automobile service station containing multiple vehicle lifts, repair facilities and office space. The remainder of the property is improved by a paved parking lot with spaces for approximately 200 vehicles.
ALL OF THAT property being situate in Baltimore City, Maryland and improvements thereon (the "Real Property"), and being more particularly described as follows:
BEGINNING FOR THE SAME at the intersection of the northernmost side of 23rd Street and the westernmost side of Huntington Avenue said intersection being also at the southeasternmost corner of Parcel No. 3 as shown on Drawing No. RE and IDD 410, dated July 15, 1977, last revised September 1, 1977 said drawing being attached to a Deed dated December 14, 1977 and recorded among the Land Records of Baltimore City in Liber WA No. 3969, folio 025, etc. from The Baltimore and Ohio Railroad Company, The Real Estate and Improvements Company of Baltimore City and the Maryland Construction Company of Baltimore City to Mount Clare Properties (Maryland), Inc., thence running with and binding on the westernmost side of said Avenue and on the easternmost line of said Parcel No. 3, North 02 degrees 58 minutes West 326.67 feet to the northeasternmost corner of said Parcel No. 3, said point being also at the intersection of the westernmost side of said Avenue and the southernmost side of 24th Street, thence running with and binding on the southernmost side of said 24th Street and on the northernmost line of Parcels No. 3 and 4 as shown on said Drawing South 87 degrees 02 minutes West 365.98 feet to the northwesternmost corner of said Parcel No. 3, thence running with and binding on the outline of said Parcel No. 3 the three following courses and distances South 02 degrees 58 minutes East 111.17 feet North 87 degrees 02 minutes East 71.50 feet and South 02 degrees 58 minutes East 215.5 feet to the northernmost side of said 23rd Street, said point being also at the southwesternmost corner of said Parcel No. 3, thence running with and binding on the northernmost side of said 23rd Street and the southernmost line of said Parcels No. 3 and 4 North 87 degrees 02 minutes East 294.48 feet to the place of beginning.
CONTAINING 2.39 acres of land, more or less.
BEING the same property which by Deed dated December 21, 2001 and recorded among the Land Records of Baltimore City, Maryland in Liber F.M.C. No. 2024, folio 23 was granted and conveyed by 300 West Twenty-Third Street Limited Partnership, a Maryland limited partnership, to Gill Family, LLC, a Maryland limited liability company, in fee simple.
Tax Identification No.: 12-05-3620-2
Click Here For The Full Sale Terms In PDF Format
Sale of Real Property: The Real Property is believed to contain approximately 2.39 acres of land, more or less and is believed to be improved with a 14,000 square foot automobile service station containing multiple vehicle lifts, repair facilities and office space. The remainder of the property is improved by a paved parking lot with spaces for approximately 200 vehicles.
ALL OF THAT property being situate in Baltimore City, Maryland and improvements thereon (the "Real Property"), and being more particularly described as follows:
BEGINNING FOR THE SAME at the intersection of the northernmost side of 23rd Street and the westernmost side of Huntington Avenue said intersection being also at the southeasternmost corner of Parcel No. 3 as shown on Drawing No. RE and IDD 410, dated July 15, 1977, last revised September 1, 1977 said drawing being attached to a Deed dated December 14, 1977 and recorded among the Land Records of Baltimore City in Liber WA No. 3969, folio 025, etc. from The Baltimore and Ohio Railroad Company, The Real Estate and Improvements Company of Baltimore City and the Maryland Construction Company of Baltimore City to Mount Clare Properties (Maryland), Inc., thence running with and binding on the westernmost side of said Avenue and on the easternmost line of said Parcel No. 3, North 02 degrees 58 minutes West 326.67 feet to the northeasternmost corner of said Parcel No. 3, said point being also at the intersection of the westernmost side of said Avenue and the southernmost side of 24th Street, thence running with and binding on the southernmost side of said 24th Street and on the northernmost line of Parcels No. 3 and 4 as shown on said Drawing South 87 degrees 02 minutes West 365.98 feet to the northwesternmost corner of said Parcel No. 3, thence running with and binding on the outline of said Parcel No. 3 the three following courses and distances South 02 degrees 58 minutes East 111.17 feet North 87 degrees 02 minutes East 71.50 feet and South 02 degrees 58 minutes East 215.5 feet to the northernmost side of said 23rd Street, said point being also at the southwesternmost corner of said Parcel No. 3, thence running with and binding on the northernmost side of said 23rd Street and the southernmost line of said Parcels No. 3 and 4 North 87 degrees 02 minutes East 294.48 feet to the place of beginning.
CONTAINING 2.39 acres of land, more or less.
BEING the same property which by Deed dated December 21, 2001 and recorded among the Land Records of Baltimore City, Maryland in Liber F.M.C. No. 2024, folio 23 was granted and conveyed by 300 West Twenty-Third Street Limited Partnership, a Maryland limited partnership, to Gill Family, LLC, a Maryland limited liability company, in fee simple.
Tax Identification No.: 12-05-3620-2
TERMS OF SALE: A deposit in the amount of One Hundred Fifty Thousand Dollars ($150,000.00), payable in cash, certified check or other form acceptable to the Trustees, will be required of the purchaser(s) at the time and place of sale. The balance of the purchase price shall be due at settlement in cash or by certified check with interest on the unpaid balance of the purchase price at the rate of ten percent (10%) per annum from the date of sale to and including the date of settlement. In the event the beneficiary under the Deed of Trust, or an affiliate 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 money. Taxes, water rent and all other municipal charges and liens owed against the Real Property shall be the responsibility of the purchaser(s) and shall be paid by the purchaser(s) at settlement. In addition, all other charges, expenses and liens owed against the Real Property including, but not limited to, all condominium fees and expenses and public charges and assessments owed against the Real Property and payable on an annual basis, such as sanitary and/or metropolitan district charges, if any, shall also be the responsibility of the purchaser(s) and shall be paid by the purchaser(s) at settlement. The Trustees reserve the right to reject any and all bids, and to extend the time for settlement, at their discretion.
The Real Property will be 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 improvements. In addition, the Real Property will also be sold subject to all existing housing, building and zoning code violations, subject to all critical area and wetland violations, subject to all environmental problems and violations which may exist on or with respect to the Real Property, and subject to all matters and restrictions of record affecting the same, if any. The purchaser(s) at the foreclosure sale shall assume the risk of loss for the above-referenced Real Property immediately after the sale takes place. It shall be the purchaser(s)' responsibility to obtain possession of the Real Property following ratification of the sale by the Circuit Court for Baltimore City, Maryland and conveyance of the Real Property by the Trustees to the purchaser(s).
The Real Property will be sold subject to all senior liens and encumbrances that are not extinguished by operation of law or by the foreclosure sale of the Real Property and subject to all easements, conditions, restrictions, rights of redemption, covenants, such state of facts that an accurate survey or physical inspection of the Real Property might disclose, and agreements of record affecting the Real Property.
The purchaser(s) shall pay at settlement all state and local transfer taxes, documentary stamps, recordation taxes and fees, title examination costs, attorneys' fees, conveyance fees and all other incidental settlement costs. The purchaser(s) shall settle and comply with the sale terms within twenty (20) days following the final ratification of sale by the Circuit Court for Baltimore City, Maryland, unless said period is extended by the Trustees for good cause shown. Time is of the essence. Settlement shall be held at the offices of Gebhardt & Smith LLP, One South Street, Suite 2200, Baltimore, Maryland 21202.
In the event the purchaser(s) fails to go to settlement as required, in addition to any other legal or equitable remedies available to them, the Trustees may, without further order of the court, declare the aforementioned deposit forfeited and resell the Real Property at the purchaser(s)' risk and expense. In such event, the defaulting purchaser(s) shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, reasonable attorneys' fees, all other charges due, and incidental damages. In the event a resale of the Real Property results in a sale in excess of the amount originally bid by the defaulting purchaser, the defaulting purchaser waives any and all claims, rights and interest to any such excess amount and shall not be entitled to any distribution whatsoever from the resale proceeds. The parties' respective rights and obligations regarding the terms of sale and the conduct of the sale shall be governed by and interpreted according to the laws of the State of Maryland.
If the Trustees are unable to convey the Real Property as described above, the purchaser(s)' sole remedy at law or in equity shall be limited to the refund of the aforementioned deposit, without interest thereon. Upon refund of the deposit to the purchaser(s), the sale shall be void and of no effect, and the purchaser(s) shall have no further claim against the Trustees or the Noteholder
Sale of Furniture, Fixtures and Equipment: The Noteholder shall sell the furniture, fixtures and equipment of Gill (collectively, the "Equipment") at 1:30 p.m. on Thursday, August 12, 2010 at the Real Property. The Noteholder and Substitute Trustees may sell the Real Property and the Equipment (collectively, the "Property") first in whole and then in part and ultimately consummate the sale in whichever manner produces the most advantageous result.
As to the Equipment, all sales are final. Cash or certified check or other form acceptable to the Noteholder required at time of sale. All Equipment sold as part of this public auction by the Noteholder shall be in an "AS IS," "WHERE IS" condition with all faults and without any warranties or representations, either expressed or implied from the Noteholder, including, but not limited to, warranties of merchantability or fitness for a particular purpose or warranties of title, possession, quiet enjoyment or the like.
The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only. The Auctioneer, the Noteholder and the Trustees do not make any representations or warranties with respect to the accuracy of this information.
The Real Property will be 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 improvements. In addition, the Real Property will also be sold subject to all existing housing, building and zoning code violations, subject to all critical area and wetland violations, subject to all environmental problems and violations which may exist on or with respect to the Real Property, and subject to all matters and restrictions of record affecting the same, if any. The purchaser(s) at the foreclosure sale shall assume the risk of loss for the above-referenced Real Property immediately after the sale takes place. It shall be the purchaser(s)' responsibility to obtain possession of the Real Property following ratification of the sale by the Circuit Court for Baltimore City, Maryland and conveyance of the Real Property by the Trustees to the purchaser(s).
The Real Property will be sold subject to all senior liens and encumbrances that are not extinguished by operation of law or by the foreclosure sale of the Real Property and subject to all easements, conditions, restrictions, rights of redemption, covenants, such state of facts that an accurate survey or physical inspection of the Real Property might disclose, and agreements of record affecting the Real Property.
The purchaser(s) shall pay at settlement all state and local transfer taxes, documentary stamps, recordation taxes and fees, title examination costs, attorneys' fees, conveyance fees and all other incidental settlement costs. The purchaser(s) shall settle and comply with the sale terms within twenty (20) days following the final ratification of sale by the Circuit Court for Baltimore City, Maryland, unless said period is extended by the Trustees for good cause shown. Time is of the essence. Settlement shall be held at the offices of Gebhardt & Smith LLP, One South Street, Suite 2200, Baltimore, Maryland 21202.
In the event the purchaser(s) fails to go to settlement as required, in addition to any other legal or equitable remedies available to them, the Trustees may, without further order of the court, declare the aforementioned deposit forfeited and resell the Real Property at the purchaser(s)' risk and expense. In such event, the defaulting purchaser(s) shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, reasonable attorneys' fees, all other charges due, and incidental damages. In the event a resale of the Real Property results in a sale in excess of the amount originally bid by the defaulting purchaser, the defaulting purchaser waives any and all claims, rights and interest to any such excess amount and shall not be entitled to any distribution whatsoever from the resale proceeds. The parties' respective rights and obligations regarding the terms of sale and the conduct of the sale shall be governed by and interpreted according to the laws of the State of Maryland.
If the Trustees are unable to convey the Real Property as described above, the purchaser(s)' sole remedy at law or in equity shall be limited to the refund of the aforementioned deposit, without interest thereon. Upon refund of the deposit to the purchaser(s), the sale shall be void and of no effect, and the purchaser(s) shall have no further claim against the Trustees or the Noteholder
Sale of Furniture, Fixtures and Equipment: The Noteholder shall sell the furniture, fixtures and equipment of Gill (collectively, the "Equipment") at 1:30 p.m. on Thursday, August 12, 2010 at the Real Property. The Noteholder and Substitute Trustees may sell the Real Property and the Equipment (collectively, the "Property") first in whole and then in part and ultimately consummate the sale in whichever manner produces the most advantageous result.
As to the Equipment, all sales are final. Cash or certified check or other form acceptable to the Noteholder required at time of sale. All Equipment sold as part of this public auction by the Noteholder shall be in an "AS IS," "WHERE IS" condition with all faults and without any warranties or representations, either expressed or implied from the Noteholder, including, but not limited to, warranties of merchantability or fitness for a particular purpose or warranties of title, possession, quiet enjoyment or the like.
The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only. The Auctioneer, the Noteholder and the Trustees do not make any representations 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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