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Go Back TuesdayFebruary 21, 2017 — 10:00am


Trustee’s & Secured Creditor/Licensee Sale: One-Story Building Known As “Club Rio” AND Fixtures, Equipment And Class BD-7 Beer, Wine & Liquor License in "Winchester"

1330 Poplar Grove St., Also Referred To As 1315 Bloomingdale Rd., Baltimore, MD 21216

Location: To be held at The Circuit Court for Baltimore City, at the Clarence M. Mitchell Court House, 100 North Calvert Street, Court House Door, Calvert Street entrance, Baltimore, MD 21202

TO BE SOLD AS AN ENTIRETY

ALL THAT FEE-SIMPLE LOT OF GROUND AND THE IMPROVEMENTS THEREON situated in Baltimore City, MD and more fully described in the Purchase Money Deed of Trust and Security Agreement.

The real property is identified as 1330 Poplar Grove St., Tax ID Number 16-20-2443A-016 and is also referred to as 1315 Bloomingdale Rd. (collectively the “Real Property”). The property is believed to be improved by a one-story building.

The Real Property will be sold in an "as is" condition and subject to all covenants, conditions, liens, restrictions, easements, agreements and rights-of-way as may affect same, if any and with no warranty of any kind, along with the Restaurant/Bar Fixtures, Equipment & 7-Day Beer, Wine & Liquor License.

Pursuant to a Security Agreement by 1330 Poplar Grove, LLC, Rio Island, LLC, Alexander Leandrew Brown and Reginald George James, Debtors and Charles P. Stokes, Secured Creditor, and to a Financing Statement recorded among the Financing Statement Records of the Maryland State Department of Assessments and Taxation in File Number 0000000181553443, (work order #0004608732), default occurring thereunder, the undersigned Secured Creditor will sell at public auction the following: all of the tangible and intangible assets of the debtor including a Class BD-7 Beer, Wine & Liquor License. The transfer of this liquor license is subject to the approval of the Board of Liquor License Commissioners of Baltimore City (the “Board”) as in the case of an original application, and it shall be the sole responsibility of the purchaser to obtain said approval. In addition, in line with Alcoholic Beverages Article of the Annotated Code of Maryland, any tangible personal property taxes, retail sales, amusement, admission, and/or withholding taxes, currently due or past due, must be paid by the purchaser to Baltimore City and or the State of Maryland.  It is the full responsibility of the purchaser(s) to apply for the liquor license transfer by the first available transfer application date set by the Board.  Any and all repairs needed to qualify for the transfer of the liquor license required by the Board, by Baltimore City, or by any other governmental agency or body shall be the responsibility of the purchaser(s). All costs involved in the transfer of the liquor license shall be paid for by the purchaser(s).  In the event that there are any bulk transfer taxes, retail sales taxes, or other taxes due on any items within the property, the purchaser(s) shall pay the required tax.

The manner of offering will be the Real Property together with the Furniture, Fixtures, Equipment and Liquor License to be sold as an entirety. The Trustee reserves the unqualified right to withdraw the Real Property together with the Furniture, Fixtures, Equipment and Liquor License at any time before the sale. If the Trustee determines that a final bid is not commensurate with the value of the property which is the subject of the bid, he may reject the bid and withdraw the property, which is the subject of the bid, from sale.  The highest bidder acknowledged by the Trustee shall be the purchaser(s).  If any dispute arises among the bidders, the Trustee shall have the sole and final discretion either to determine the successful bidder or to reoffer and resell the property.   

Summary terms of sale: A cash deposit, certified check or cashier's check for $9,000 will be required of the purchaser(s) at time and place of sale. The balance of the purchase price is to be paid in cash within ten (10) days following final ratification of the sale by the Circuit Court for Baltimore City. Time is of the essence for the purchaser(s) performance. If the purchaser(s) fails to go to settlement the deposit shall be forfeited to the Trustee and all expenses of this sale (including attorney fees and full commission on the gross sales price of the sale) shall be charged against and paid from the forfeited deposit. In the event of resale the defaulting purchaser(s) shall not be entitled to any surplus proceeds or profits resulting from any resale of the property regardless of any improvements made to the real property. Interest to be charged on the unpaid purchase money at the rate stated in the Promissory Note from date of sale to the date funds are received by the Trustee. Taxes, water, sewer, ground rent, condominium fees, and/or homeowners association dues, if applicable, will be adjusted to the date of sale and assumed thereafter by the purchaser(s). All other public charges and assessments payable on an annual basis, including sanitary and/or metropolitan district charges will be adjusted for the current year to date of sale and assumed thereafter by the purchaser(s). Cost of all documentary stamps, recordation taxes and transfer taxes shall be borne by the purchaser(s).   The purchaser(s) shall be responsible for payment of any ground rent escrow, if required. The property will be sold in "AS IS" condition, and without any representations or warranties, either express or implied, with respect to the nature, value, use, description or condition of the property, equipment, fixtures or improvements. The property is also being sold subject to all existing housing, building and zoning code violations, critical area and wetland violations, environmental problems, conditions or hazards, which may exist on or with respect to the property and such state of facts that an accurate survey or physical inspection of the property might disclose. Purchaser(s) shall be responsible for obtaining physical possession of the property. If there are tenants in possession of all or part of the property, the Trustee shall not be responsible for any tenant security deposit. The property is being sold subject to easements, agreements, restrictions or covenants of record affecting same, if any. If the Trustee is 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 to the purchaser(s). Upon refund of the deposit this sale shall be null and void and of no effect and the purchaser(s) shall have no further claim against the Trustee. Cost of all documentary stamps, transfer taxes, agricultural transfer taxes and settlement costs to be paid by the purchaser(s). In the event settlement is delayed for any reason and the property is purchased by someone other than Note holder, there shall be no abatement of interest caused by the delay.  The purchaser(s) at the foreclosure sale shall assume the risk of loss for the property from the date of sale. All items sold as part of the public auction by the Secured Creditor to any purchaser(s) shall be in an “as is” “where is” condition and with all faults, and without any warranties or representations, either express or implied, from the Secured Creditor, including, but not limited to, warranties of merchantability or fitness for a particular purpose or warranties of title, possession, quiet enjoyment or the like.  All items sold as part of the public sale will be sold to the purchaser(s) subject to all conditions, liens, encumbrances, charges, restrictions and rights of redemption affecting the same, if any. The personal property and liquor license will be sold in an "as is" condition and with no warranty as to the description of the assets.  The purchaser(s) will assume the risk of loss for the personal property and liquor license, if any, from date of sale. All sales are final.

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 Trustee 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 default 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.  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.

The information contained herein was obtained from sources deemed to be reliable, but is offered for information purposes only. The Auctioneer, the Trustee and the Secured Creditor/Licensee do not make any representations or warranties with respect to the accuracy of this information. The acreage and square footage are approximate.

Click Here For The Full Sale Terms In PDF Format


Paul Cooper Auction Agent
410-977-4707
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.