Go Back TuesdayJanuary 17, 2017 — 2:00pm
Substitute Trustee’s Sale: 2,464 +/- SF Partially Completed Home on 5.02 +/- Acre Lot in "Brandywine"
18305 Aquasco Rd., Brandywine, MD 20613
Location: On the Premises
Sale to be held on the premises
Under and by virtue of a power of sale contained in that certain Indemnity Deed of Trust and Security Agreement dated March 10, 2011 and recorded among the Land Records of Prince George’s County, Maryland in Book 32651, Page 21 from S. Sweet Properties, LLC, as grantor, as amended by that certain First Amendment to Indemnity Deed of Trust and Security Agreement dated as of October 29, 2013 and recorded among the Land Records of Prince George’s County, Maryland at Book 36641, Page 564 (as amended, the “Deed of Trust”), the undersigned Substitute Trustee, at the request of the beneficiary under the Deed of Trust (the “Beneficiary”), will offer for sale at public auction on the premises as aforesaid, at 2:00 p.m. on Tuesday, January 17, 2017, the real property (the “Property”) granted to the Substitute Trustee by the Deed of Trust, more particularly described as follows:
All that lot or parcel of ground, situate, lying and being in Prince Georges County, State of Maryland, and more particularly described as follows:
Being the land of Hogan Development, LLC as described in a conveyance recorded among the Land Records of Prince George's County, Maryland (8th Election District) in Liber 25364 at Folio 346; and being more particularly described as:
Beginning at an iron pipe set, set pipe marking the common front corner between Hogan Development property and the property of Jacob L. & David Lee Yerkie (L.26896 at F.490), said pipe also being on the northwesterly right-of-way line of Aquasco Road (40' Wide, MD RTE #381), thence from the point of beginning and along the division line between said Hogan Development property and above said Yerkie property for the next five courses and distances, South 55 deg. 23 min. 10 sec. West-152.61 feet to an iron pipe found; thence South 37 deg. 12 min. 10 sec. West-123.98 feet to an iron pipe found; thence South 39 deg. 16 min. 20 sec. West-603.40 feet to an iron pipe found; thence South 35 deg. 44 min. 20 sec. West-480.72 feet to an iron pipe found; thence South 54 deg. 43 min. 10 sec. East-114.54 feet to an iron pipe found; thence Along the division line between said Hogan Development property and the property of Parcel- "A", William S. Schmidt Outdoor Education Center (Plat Book WWW 89 at Plat 30), South 35 deg. 58 min. 00 sec. West-447.38 feet to an iron pipe found in the centerline of a creek; thence along the division line between said Hogan Development property and the property of James K. Neal, Jr. et. ux. (L. 4070 at F.710), North 08 deg. 39 min. 50 sec. East-500.38 feet to an iron pipe found; thence North 35 deg. 44 min. 20 sec. East-480.72 feet to an iron pipe found; thence along the division line between said Hogan development property and the property of above said James K. Neal, Jr. et. ux. and the property of John F. & Margaret A. Washington (L.4219 at F. 592). North 36 deg. 28 min. 10 sec. East-683.79 feet to an iron pipe found; thence along a division line between said Hogan Development property and the property of above said John F. Margaret A. Washington and the property of Franklin L. & Mary Douglas (L.6248 at F. 749), North 65 deg. 18 min. 40 sec. East-240.00 feet to an iron pipe set on the aforesaid R/W line of Aquasco Road and thence along the same R/W line, South 39 deg. 02 min. 00sec. East- 82.40 feet to the point of beginning, containing 5.0197 Acres of land. For Informational Purposes Only: The improvements thereon being known as 18305 Aquasco Road, Brandywine, MD 20613. Tax ID/Parcel No. 08-0845156.
The Property is believed to consist of an approximately 5.02 acre lot improved by a partially completed 2,464 square foot residential home. While this information as to the nature and description or use of the Property has been obtained from sources deemed reliable and is believed to be accurate, no representations are made as to the presence, absence, development status or condition of improvements on or about the Property.
Summary terms of sale: Cash. The Property will be offered for sale in an “AS IS, WHERE IS” condition and will be conveyed by Substitute Trustee’s Deed subject to all encumbrances, rights, reservations, covenants, conditions, easements, restrictions and statutory liens, if any, having priority over the Deed of Trust, as they may lawfully affect the Property. The Property will be sold subject to the right of redemption of the United States of America (if such right exists).
The Substitute Trustee and the Beneficiary disclaim all warranties of any kind, either express or implied, for the Property and any improvements thereon, including, without limitation, any warranty relating to the zoning, structural integrity, physical condition, condition of the soil, extent and nature of construction, workmanship, materials, habitability, environmental condition, compliance with applicable laws, fitness for a particular purpose and merchantability.
The Property will be sold subject to all conditions and dedications contained on any subdivision plats, easements, liens, conditions, restrictions, rights of redemption, rights of entry, covenants, encumbrances, and agreements of record affecting the same (collectively, “Liens”), if such Liens have priority over the Deed of Trust, and subject to (i) all applicable homeowners association organizational documents or other regimes, (ii) all existing housing, building and zoning code violations, (iii) all environmental problems and violations which may exist on or with respect to the Property, and (iv) all matters that an accurate survey or physical inspection of the Property might disclose.
The risk of loss or damage to the Property shall be borne by the successful bidder from and after the date and time of the sale. Obtaining possession of the Property shall be the sole responsibility of the successful bidder.
A bidder’s deposit of Seven Thousand Dollars ($7,000.00) in the form of cashier’s check or bank official check at the time of sale will be required of all purchasers other than the Beneficiary or an affiliate of the Beneficiary. The deposit must be increased to 10% of the purchase price (as increased, the “Deposit”) not later than 3:00 p.m. on January 20, 2017 in the office of the auctioneer in the form of cashier’s check, bank official check or wire transfer completed and confirmed by 3:00 p.m. on January 20, 2017. The Deposit will not earn interest in the hands of the Substitute Trustee. The Beneficiary or an affiliate thereof is not required to make a Deposit. The Substitute Trustee reserves the right (i) to waive or modify the deposit requirement; (ii) to approve the creditworthiness of any bidder or final purchaser; (iii) to withdraw all or part of the Property from sale at any time prior to the termination of bidding; (iv) to keep the bidding open for any length of time; (v) to reject any or all bids; and (vi) to postpone the sale and conduct other sales as the Substitute Trustee may determine in his discretion. Immediately after the sale, the successful bidder shall execute and deliver a contract of sale with the Substitute Trustee for the Property incorporating the terms and conditions hereof, a copy of which shall be available for inspection prior to the sale, and shall deliver to the auctioneer the initial component of the Deposit, which shall be increased within three business days as aforesaid.
The balance of the purchase price for the Property, together with interest at 4.00% per annum from the date of sale to the date of settlement, shall be paid in cash within twenty (20) days after final ratification of the sale of the Property by the Circuit Court for Prince George’s County, Maryland, time being of the essence with regard to all of the purchaser’s obligations.
Settlement on the sale of the Property shall take place at the law offices of Ober, Kaler, Grimes & Shriver, P.C., 100 Light Street, Baltimore, MD 21202, or such other place as is agreeable to the parties. Real estate taxes, water, ground rents and other municipal liens and charges and all other public charges and assessments payable on an annual basis or otherwise shall be adjusted to January 17, 2017, the date of the sale, and assumed thereafter by the purchaser. Any homeowners’ association fees, assessments or capital contributions payable with respect to the Property shall be assumed after the date of sale by the purchaser. The purchaser shall pay all settlement fees, title examination charges, title charges and title insurance premiums, all recording costs (including the state grantor’s tax and all state and county recordation taxes and fees, clerk’s filing fees and transfer fees and taxes). The purchaser shall pay all costs incidental to the conveyance of the Property. If the Beneficiary is the purchaser of the Property at the sale, the amount bid at the sale by the Beneficiary shall be a credit against the indebtedness secured by the Deed of Trust.
If any successful bidder fails for any reason to complete settlement as provided above, the Deposit shall be forfeited and applied to the costs of the sale, including Substitute Trustee’s fees, and the balance, if any, shall be delivered to the Beneficiary to be applied by the Beneficiary against the indebtedness secured by, and other amounts due under, the Deed of Trust in accordance with the Deed of Trust or applicable law or otherwise as the Beneficiary shall elect. There shall be no refunds. Such forfeiture shall not limit any rights or remedies of the Substitute Trustee or the Beneficiary with respect to any such default. After any such default and forfeiture, the Property may at the discretion of the Substitute Trustee be conveyed to the next highest bidder on the Property whose bid was acceptable to the Substitute Trustee. If, instead, the Property is resold, such re-sale shall be at the risk and the cost of the failing bidder, and the failing bidder shall be liable for any deficiency between its bid and the successful bid at the resale as well as the costs of conducting such re-sale. In the event the Substitute Trustee does not execute a deed of conveyance or other necessary settlement documents, the purchaser’s sole remedy shall be the refund of the Deposit. Immediately upon conveyance by the Substitute Trustee of the Property to a purchaser at foreclosure, all duties, liabilities, and obligations of the Substitute Trustee, if any, with respect to the Property so conveyed shall be extinguished.
The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only. Neither the Beneficiary nor the Substitute Trustee make any representations or warranties with respect to the accuracy of this information.
The Substitute Trustee reserves the right to modify the requirements for the Deposit, to withdraw all or any part of the Property from the sale, to postpone the sale, and to conduct such other sales as the Substitute Trustee may determine in his sole discretion. Additional terms and conditions may be announced at the time of sale.
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.