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Go Back WednesdayMay 8, 2013 — 12:15pm


Substitute Trustee's Sale: Shopping Center Known As The Penn Branch Center in SE, Washington, DC

3200 Pennsylvania Ave., SE., Washington, DC 20020

Location: To be held at The office of Alex Cooper Auctioneers, Inc., 5301 Wisconsin Ave., N.W., Suite 750, Washington, DC

THE AUCTIONEER HAS NOT BEEN PROVIDED WITH ANY DUE DILIGENCE INFORMATION OR ACCESS TO THE PROPERTY. 

By virtue of a certain Deed of Trust and Security Agreement duly recorded December 7, 2005 as Instrument No. 2005175675 (the "Deed of Trust") among the Land Records of the District of Columbia (the "Land Records"), and in accordance with Public Law 90-566 notice filed April 5, 2013 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 8, 2013 at 12:15 pm the following described land and premises. 

All of those lots or parcels of land located in the District of Columbia and more particularly described as follows:

PARCEL 1: PART OF "ALLEY CLOSED" AS SHOWN ON PLAT RECORDED IN THE OFFICE OF THE SURVEYOR FOR THE DISTRICT OF COLUMBIA IN LIBER 145 AT FOLIO 97 AND PART OF LOT 15 IN SQUARE 5539 IN THE SUBDIVISION MADE BY DINO CONSTRUCTION COMPANY, INC., AS PER PLAT RECORDED IN THE OFFICE OF THE SURVEYOR FOR THE DISTRICT OF COLUMBIA IN LIBER 141 AT FOLIO 49, DESCRIBED IN ACCORDANCE WITH A PLAT OF BOUNDARY SURVEY MADE BY A. MORTON THOMAS AND ASSOCIATES, INC., DATED JANUARY 18, 1983, AS FOLLOWS: BEGINNING FOR THE SAME AT THE INTERSECTION OF THE NORTHERLY LINE OF SAID "ALLEY CLOSED" WITH THE WESTERLY LINE OF SAID LOT 15 AND RUNNING THENCE NORTH 12 DEGREES 00 MINUTES 00 SECONDS WEST, 6.38 FEET; THENCE SOUTH 41 DEGREES 09 MINUTES 27 SECONDS EAST, 19.67 FEET; THENCE SOUTH 05 DEGREES 02 MINUTES 47 SECONDS WEST, 8.41 FEET TO THE CENTERLINE OF SAID "ALLEY CLOSED;" THENCE WITH SAID CENTERLINE, NORTH 62 DEGREES 26 MINUTES 00 SECONDS WEST, 17.51 FEET; THENCE NORTH 27 DEGREES 34 MINUTES 50 SECONDS EAST, 10 FEET TO THE PLACE OF BEGINNING.

NOTE: AT THE DATE HEREOF THE ABOVE-DESCRIBED PROPERTY IS DESIGNATED ON THE RECORDS OF THE ASSESSOR FOR THE DISTRICT OF COLUMBIA FOR ASSESSMENT AND TAXATION PURPOSES AS LOT NUMBERED EIGHT HUNDRED THIRTY-FIVE (835) IN SQUARE NUMBERED FIFTY-FIVE HUNDRED THIRTY-NINE (5539).

PARCEL 2: PARTS OF THE TRACT OF LAND CALLED "AARON" AND PART OF “ALLEY CLOSED," AS PER PLAT RECORDED IN THE OFFICE OF THE SURVEYOR FOR THE DISTRICT OF COLUMBIA IN LIBER 145 AT FOLIO 97, DESCRIBED IN ACCORDANCE WITH A PLAT BOUNDARY SURVEY MADE BY A. MORTON THOMAS AND ASSOCIATES, INC., DATED JANUARY 18, 1983, AS FOLLOWS: BEGINNING FOR THE SAME AT THE INTERSECTION OF THE NORTHERLY LINE OF PENNSYLVANIA AVENUE, S.E. AND THE EASTERLY LINE OF BRANCH AVENUE, S.E. AND RUNNING ALONG THE EASTERLY LINE OF BRANCH AVENUE, S.E., NORTH 5 DEGREES 31 MINUTES 00 SECONDS WEST, 250.68 FEET; THENCE SOUTH 62 DEGREES 25 MINUTES 10 SECONDS EAST, 261.876 FEET; THENCE SOUTH 27 DEGREES 34 MINUTES 50 SECONDS WEST, 210 FEET TO THE NORTHERLY LINE OF PENNSYLVANIA AVENUE;THENCE RUNNING ALONG THE NORTHERLY LINE OF PENNSYLVANIA AVENUE, NORTH 62 DEGREES 25 MINUTES 10 SECONDS WEST, 125.00 FEET TO THE PLACE OF BEGINNING.

NOTE: AT THE DATE HEREOF THE ABOVE-DESCRIBED PROPERTY IS DESIGNATED ON THE RECORDS OF THE ASSESSOR FOR THE DISTRICT OF COLUMBIA FOR ASSESSMENT AND TAXATION PURPOSES AS LOT NUMBERED EIGHT HUNDRED THIRTY-EIGHT (838) IN SQUARE NUMBERED FIFTY-FIVE HUNDRED THIRTY-NINE (5539).

PARCEL 3: PARTS OF THE TRACT OF LAND CALLED "AARON" AND PART OF "ALLEY CLOSED," AS PER PLAT RECORDED IN THE OFFICE OF THE SURVEYOR FOR THE DISTRICT OF COLUMBIA IN LIBER 145 AT FOLIO 97, DESCRIBED IN ACCORDANCE WITH A PLAT OF BOUNDARY SURVEY MADE BY A. MORTON THOMAS AND ASSOCIATES, INC., DATED JANUARY 18, 1983 AS FOLLOWS: BEGINNING FOR THE SAME IN THE NORTHERLY LINE OF PENNSYLVANIA AVENUE, S.E. AT A POINT DISTANT SOUTH 62 DEGREES 25 MINUTES 10 SECONDS EAST, 125 FEET FROM THE INTERSECTION OF SAID NORTHERLY LINE WITH THE EASTERLY LINE OF BRANCH AVENUE, S.E.; THENCE WITH THE NORTHERLY LINE OF PENNSYLVANIA AVENUE, SOUTH 62 DEGREES 25 MINUTES 10 SECONDS EAST, 136.38 FEET; THENCE NORTH 27 DEGREES 34 MINUTES 50 SECONDS EAST, 210 FEET TO THE CENTERLINE OF" ALLEY CLOSED" AS PER PLAT RECORDED IN THE OFFICE OF THE SURVEYOR FOR THE DISTRICT OF COLUMBIA IN LIBER 145 AT FOLIO 97; THENCE NORTH 62 DEGREES 25 MINUTES 10 SECONDS WEST, 136.38 FEET; THENCE SOUTH 27 DEGREES 34 MINUTES 50 SECONDS WEST, 210 FEET TO THE PLACE OF BEGINNING.

NOTE: AT THE DATE HEREOF THE ABOVE-DESCRIBED PROPERTY IS DESIGNATED ON THE RECORDS OF THE ASSESSOR FOR THE DISTRICT OF COLUMBIA FOR ASSESSMENT AND TAXATION PURPOSES AS LOT NUMBERED EIGHT HUNDRED THIRTY-NINE (839) IN SQUARE NUMBERED FIFTY-FIVE HUNDRED THIRTY-NINE (5539).

PARCEL 4: PART OF "ALLEY CLOSED," AS SHOWN ON PLAT RECORDED IN THE OFFICE OF THE SURVEYOR FOR THE DISTRICT OF COLUMBIA IN LIBER 145 AT FOLIO 97, AND PART OF THE TRACT OF LAND CALLED "AARON," DESCRIBED IN ACCORDANCE WITH A PLAT OF BOUNDARY SURVEY MADE BY A. MORTON THOMAS AND ASSOCIATES, INC., DATED JANUARY 18, 1983, AS FOLLOWS: BEGINNING FOR THE SAME AT A POINT OF INTERSECTION OF THE CENTERLINE OF SAID "ALLEY CLOSED," AND THE EASTERLY LINE OF BRANCH AVENUE, S.E., SAID POINT BEING NORTH 05 DEGREES 31 MINUTES 00 SECONDS WEST, 250.68 FEET FROM THE INTERSECTION OF THE EASTERLY LINE OF BRANCH AVENUE AND THE NORTHERLY LINE OF PENNSYLVANIA AVENUE, S.E., AND RUNNING THENCE ALONG SAID BRANCH AVENUE, NORTH 05 DEGREES 31 MINUTES 00 SECONDS WEST, 209.245 FEET; THENCE SOUTH 87 DEGREES 45 MINUTES 10 SECONDS EAST, 122.41 FEET; THENCE NORTH 54 DEGREES 07 MINUTES 20 SECONDS EAST, 80.97 FEET; THENCE ON THE ARC OF A (NON-TANGENT) CIRCLE DEFLECTING TO THE RIGHT THE RADIUS OF WHICH IS 1095.78 FEET, AN ARC DISTANCE OF 430.35 FEET (SAID CURVE HAVING A CHORD BEARING AND CHORD OF SOUTH 23 DEGREES 16 MINUTES 00 SECONDS EAST, 427.59 FEET) TO A POINT OF TANGENT; THENCE SOUTH 12 DEGREES 00 MINUTES 00 SECONDS EAST, 26.12 FEET; THENCE SOUTH 27 DEGREES 34 MINUTES 50 SECONDS WEST, 10 FEET TO THE CENTERLINE OF SAID "ALLEY CLOSED," THENCE WITH THE SAID CENTERLINE NORTH 62 DEGREES 25 MINUTES 10 SECONDS WEST, 380.78 FEET TO THE POINT OF BEGINNING.

NOTE: AT THE DATE HEREOF THE ABOVE-DESCRIBED PROPERTY IS DESIGNATED ON THE RECORDS OF THE ASSESSOR FOR THE DISTRICT OF COLUMBIA FOR ASSESSMENT AND TAXATION PURPOSES AS LOT NUMBERED EIGHT HUNDRED FORTY (840) IN SQUARE NUMBERED FIFTY-FIVE HUNDRED THIRTY-NINE (5539).

TOGETHER WITH any and all buildings, structures, improvements or appurtenances now erected on the above-described land, 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 (other than personal property of the tenants) and any buildings thereon all as more particularly described in the aforesaid Deed of Trust (the "Property").

Summary terms of sale: ALL CASH.  The bid which yields the highest price for the Property will be accepted by the Substitute Trustee (unless the sale is postponed or cancelled) and all bids will be provisional until acceptance.  Notwithstanding the foregoing, the Substitute Trustee absolutely reserves the right to postpone the sale and/or cancel the sale at any time until the auctioneer announces that the Property is "sold" and the deposit in the required amount and form is received by the Substitute Trustee.  A deposit in the amount of $1,000,000 will be required at the time of sale.  Such deposit must be by cashier's check or certified check or in such other form as the Substitute Trustee may determine in his sole discretion.  The Noteholder secured by the Deed of Trust (or any related party) shall be exempted by the Substitute Trustee from submitting any bidding deposit.  The Substitute Trustee will, as a condition of the sale, require all potential bidders except the Noteholder to show their deposit before any bidding begins. The retained deposit of the successful purchaser shall be applied, without interest, to the successful purchaser's credit at settlement, provided, however, that in the event the successful purchaser fails to consummate the purchase in accordance with the terms of sale as herein provided, such deposit, at the option of the Substitute Trustee, will be forfeited.  The terms of sale must be complied with and settlement consummated thereon within 30 days from day of sale unless extended at the sole discretion of the Substitute Trustee.  TIME IS OF THE ESSENCE.  The balance of the purchase price over and above the retained deposit, with 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 settlement in cash or certified funds; and if not so paid, the Substitute Trustee reserves the right to retain the deposit and resell the Property at the risk and cost of the defaulting purchaser, after such advertisement and on such terms as the Substitute Trustee may deem proper, and to avail themselves and the Noteholder of any legal or equitable rights against the defaulting purchaser.

The Property is sold subject to the rights, if any, of parties in possession, if such rights have priority over the Deed of Trust, and to any and all covenants, conditions, restrictions, easements, rights of way, and limitations of record.  The Property will be sold "WHERE IS" and in "AS IS" condition without 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 or any other party and without any other representations or warranty of any nature.  Without limiting the generality of the foregoing, the Property will be sold without representation or warranty as to (i) title to the Property, (ii) the nature, condition, structural integrity, or fitness for a particular use of any improvements, fixtures or personal property included within the Property, (iii) the environmental condition of the Property or the compliance of the Property with federal, state and local laws and regulations concerning the presence or disposal of hazardous substances, (iv) compliance of the Property with the Americans with Disabilities Act or any similar law, or (v) compliance of the Property with any zoning laws or ordinances and any and all applicable safety codes, and acceptance of the Deed to the Property by the successful purchaser shall constitute a waiver of any claims against the Substitute Trustee or the Noteholder concerning any of the foregoing matters.  The successful purchaser recognizes that 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.

Conveyance shall be by Substitute Trustee’s Deed, without covenant 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 purchaser.  Sold subject to all taxes, ground rents, public charges, assessments, sewer, water, drainage and other public improvements whether assessments have been levied or not.  The Noteholder and Substitute Trustee assume no liability for fuel, gas, electricity, utilities and other operating charges accrued before or after the sale and all such charges shall be the sole responsibility of the purchaser from the date of sale.  All costs incident to the settlement and conveyancing including, without limitation, examination of title, conveyancing, all recordation taxes and charges, all transfer taxes and charges, title insurance premiums, notary fees, settlement fees and all other costs incident to settlement shall be at the cost of the successful purchaser.  If the Substitute Trustee cannot convey title, the purchaser's sole remedy is a return of deposit.  Further particulars may be announced at the time of sale. 

For further information, please contact Laura Bouyea, Esq., Lender’s Counsel at 410-528-2345.

Click Here For The Full Sale Terms In PDF Format


Jody Krieger Auction Agent
202-364-0871
PLEASE 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.