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Go Back TuesdayMay 1, 2012 — 11:00am

Substitute Trustee's Sale: 10 Essentially Vacant Lots on Howard Road in the Polar Point Area of SE Washington, DC

See Below For Location Description

Location: To be held at The office of Alex Cooper Auctioneers, INC., 5301 Wisconsin Avenue, N.W., Suite 750, Washington, D.C.

To be offered individually ($50,000 deposit)
and or as an Entirety ($500,000 deposit)

Square/ Lot     Principal street address
                       in Washington, DC, according to DC tax records

5860/0986      Howard Road, SE
5860/0988      0009 Howard Road, SE
5860/1020      Howard Road, SE
5860/1027      0756 Howard Road, SE
5860/1028      0752 Howard Road, SE
5861/0079      0731 - 0745 Howard Road, SE
5861/0085      Howard Road, SE
5861/0086      0633 Howard Road, SE
5861/0951      0631 Howard Road, SE
5861/0957      0715 - 0729 Howard Road, SE 



CLICK HERE FOR TITLE COMMITMENT (This title commitment is for informational purposes only and is the sole property of the foreclosing lender; it is not an offer for title insurance. All prospective bidders are encouraged to do their own due diligence. If title insurance is desired, all prospective bidders must negotiate and pay for their own title insurance. Lender is not making any representation or warranty regarding the accuracy or completeness of this title commitment.)






By virtue of a certain "Deed of Trust and Security Agreement", dated as of October 29, 2007, granted by Poplar Point North, LLC and Poplar Point South, LLC, and recorded, on October 29, 2007, as Instrument No. 2007137932 among the Land Records of the District of Columbia; as assigned by "Assignment of Deed of Trust and Security Agreement", dated as of April 2, 2009, and recorded on April 9, 2009, as Instrument No. 2009037485 among said Land Records; and as further assigned by "Assignment of Deed of Trust and Security Agreement", dated as of June 10, 2009, and recorded on October 19, 2009, as Instrument No. 2009114068 among said Land Records; and in accordance with Public Law 90-566 notice filed March 23, 2012, a default having occurred in the payment of the indebtedness secured thereby and the covenants contained therein, and at the request of the party secured thereby (the "Noteholder"), the undersigned Substitute Trustee, will sell, at public auction, within the office of Alex Cooper Auctioneers, INC., 5301 Wisconsin Avenue, N.W., Suite 750, Washington, D.C., on May 1, 2012, at 11:00 a.m., the following described land and premises:

TOGETHER WITH any and all buildings, structures, improvements or appurtenances now erected on the above described land to the extent owned by Poplar Point North, LLC or Poplar Point South, LLC, including, without limitation, all equipment, apparatus, machinery and fixtures of any kind or character forming a part of said buildings, structures, improvements or appurtenances, and any furniture, furnishings, equipment, machinery and other personal property owned and located in, upon or about the above-described land and any buildings thereon all as more particularly described in the aforesaid Deed of Trust (collectively, the "Property").

Summary terms of sale: ALL CASH. The bid that the Substitute Trustee feels assures yielding the highest price for the Property, payable as hereinafter provided, and submitted by a financially qualified bidder, will be accepted by the Substitute Trustee (unless the sale is postponed or cancelled). All bids shall be provisional until acceptance. Notwithstanding the foregoing, the Substitute Trustee reserves the right, in his sole and absolute discretion, to postpone the sale and/or cancel the sale, at any time until (a) the auctioneer announces that the Property is "sold"; and (b) the initial deposit(s), in the required amount and form, is received by the Substitute Trustee. The lots will be offered individually and/or as an entirety, at the discretion of the Substitute Trustee. Notwithstanding the foregoing, if the bidding results in a sale(s) of less than all of the lots, the Substitute Trustee reserves the right, in his sole and absolute discretion, to consider any adverse consequences such sale(s) may have, as distinguished from a sale of all of the lots together to a single buyer [such as any additional expenses and risks the Noteholder may thereafter incur], and to accept or reject bids accordingly. An initial deposit, in the amount of $50,000 for each lot purchased, or $500,000 for the entirety, must be paid, by the purchaser, to the Substitute Trustee, at the sale. The Substitute Trustee shall require each potential bidder, to show the applicable initial deposit(s), before such bidding begins. In any instance in which the total of the initial deposit for a lot is less than ten percent (10%) of the winning bid amount for that lot, an additional deposit, in the amount of that difference, shall be paid, by the purchaser, to the Substitute Trustee, within three (3) business days after the sale. [However, the total deposit shall not be reduced if the total of the initial deposit is more than ten percent (10%) of the winning bid amount of the lot.] Each and every deposit under these terms of sale must be made by cashier's check or certified check or in such other form as the Substitute Trustee may determine in his sole and absolute discretion. Notwithstanding the foregoing, the Noteholder (or any related party) shall be exempted, by the Substitute Trustee, from submitting any deposit. Settlement hereunder must be consummated within 30 days from day of sale, unless extended at the sole and absolute discretion of the Substitute Trustee. The balance of the purchase price over and above the deposit(s), plus interest thereon at a rate of 10.00% per annum from the date of sale through the date of receipt of the balance of the purchase price, will be due at that settlement and be payable then in cash or certified funds. The deposit(s) of the successful bidder shall be applied, without interest, to the successful bidder's credit at settlement. If the successful bidder fails to pay all of the additional deposit, or to consummate the purchase, in accordance with these terms of sale, the deposit(s) theretofore paid shall, at the option of the Substitute Trustee, be forfeited as liquidated damages. TIME IS OF THE ESSENCE with respect to each of the provisions of these terms of sale.

The Property is to be sold hereunder subject to (a) the rights, if any, of any persons or entities in possession; and (b) any and all covenants, conditions, restrictions, easements, rights of way, and other matters of record not discharged by operation of law in connection with the sale contemplated hereby. The Property is to be sold "WHERE IS" and in "AS IS" condition without (a) any warranty as to condition, express or implied, and without any representation or warranty as to the accuracy of the information furnished to prospective bidders by the Substitute Trustee, the Noteholder, or any other person or entity; and (b) any other representation or warranty of any nature. Without limiting the generality of the foregoing, the Property is to be sold without representation or warranty as to (a) the Substitute Trustee's title to the Property; (b) the nature, condition, structural integrity, or fitness for a particular use of any improvements, fixtures or personal property included within the Property; (c) the environmental condition of the Property or the compliance of the Property with any laws or regulations concerning the presence or disposal of hazardous substances; (d) the compliance of the Property with the Americans with Disabilities Act, or any health, safety or other law or regulation; or (e) the compliance of the Property with any zoning or other land use law or requirement. Neither the Substitute Trustee nor the Noteholder shall have any obligation or liability with respect to any of the matters described above or otherwise with respect to the Property. Any investigation, examination or inspection of the Property is within the control of the owner or other parties in possession of the Property and not within the control of the Substitute Trustee or the Noteholder. Bidders need to rely solely upon their own investigations.

The Substitute Trustee has no obligation to deliver possession of the Property.

Conveyance shall be by Substitute Trustee's Deed, without covenant, representation or warranty, express or implied. The risk of loss or damage by fire or other casualty to the Property from and after the date of sale will be upon the successful bidder. All taxes, ground rents, public charges, assessments, sewer, water, drainage and other public charges applicable to the Property, whether assessment has been levied or not, shall be adjusted as of the date of the settlement and thereafter assumed by the successful bidder. All costs incident to the settlement and conveyancing including, without limitation, any examination of title, recordation and transfer taxes and charges, any title insurance premiums, notary fees, and fees of the settlement agent, shall be at the cost of the successful bidder, except that the successful bidder shall not be responsible for the auctioneer's fees or any attorneys' fees incurred by the Substitute Trustee or the Noteholder in connection with the subject foreclosure or the sale contemplated hereby. If the Substitute Trustee does not possess, or cannot without the approval of any third parties or without efforts that the Substitute Trustee deems not commercially reasonable, convey title in the manner or time contemplated hereunder, the sole and exclusive remedy is a return of deposit.

For additional information contact:
Todd Deckelbaum
Substitute Trustee
c/o Settlement Corp.
Chevy Chase Plaza
Suite 710
5301 Wisconsin Avenue, N.W.
Washington, DC 20015
Telephone: 202-537-0005

Click Here For The Full Sale Terms In PDF Format

Jody Krieger Auction Agent
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.