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Go Back WednesdayFebruary 22, 2017 — 11:00am


Substitute Trustees’ Sale: 1-Story Retail Building Containing Approximately 2,700+/- SF of Rentable Area in "Glen Burnie"

1702 Crain Highway South, Glen Burnie, MD 21061

Location: On the Premises

Sale to be held at the premises

CLICK HERE FOR INFORMATION PACKAGE

All that tract or parcel of land situate, lying and being in Anne Arundel County, Maryland, with all improvements thereon, if any, and more particularly described as follows (collectively, the “Property”):

BEGINNING FOR THE SAME at an iron pipe here found on the East side of Old Stage Road, said point of beginning being the intersection of the South 54 degrees 17 minutes West 154.25 foot line of that conveyance from Martin Vaith, widower to William E. Bauer and Donna M. Bauer, his wife, by Deed dated April 13, 1956 and recorded among the Land Records of Anne Arundel County, Maryland in Liber G.T.C. No. 1017, folio 72, with the East side of Old Stage Road; said point of beginning being also South 54 degrees 16 minutes 10 seconds West 121.55 feet from the beginning of the first line of the aforesaid conveyance; thence from the point of beginning so fixed and binding on the East side of Old Stage Road South 10 degrees 45 minutes 40 seconds East 34.22 feet to a pipe set in the second line of the aforesaid conveyance from Vaith to Bauer, thence running with said line as now corrected for magnetic variation South 66 degrees 12 minutes 10 seconds East 640.60 feet to a pipe set on the West Side of Crain Highway, thence leaving the said second line and running with the West side of Crain Highway North 18 degrees 12 minutes 00 seconds East 133.33 feet to a pipe set in the last line of the conveyance from Vaith to Bauer, thence leaving the aforesaid side of the Crain Highway and running with a part of the last line of the conveyance from Vaith to Bauer, North 66 degrees 12 minutes 10 seconds West 464.40 feet to a pipe found at the Northeast corner of that conveyance from William E. Bauer and Donna M. Bauer, his wife, to the Anne Arundel Sanitary Commission by Deed dated May 26, 1961 and recorded among the Land Records of Anne Arundel County, Maryland in Liber GTC No. 1485, folio 16, thence leaving the aforementioned last line binding on the outline of the aforesaid conveyance to the Anne Arundel County Sanitary Commission South 23 degrees 41 minutes 20 seconds West 50.08 feet to a pipe found, thence North 66 degrees 12 minutes 10 seconds West 130.71 feet to a point in the first line of the conveyance from Vaith to Bauer, thence with a part of the said line as now corrected for magnetic variation South 54 degrees 16 minutes 10 seconds West 63.14 feet to the point of beginning. Containing 1.72 acres of land, more or less, according to a survey and plat made by T.T. Pantalleo, Registered Professional Engineer and Land Surveyor in November, 1965.

SUBJECT to a twenty (20) foot right-of-way parallel to and binding on the last line of the above described tract.

Being all and the same property more particularly described in a Deed dated October 17, 2002 and recorded among aforesaid Land Records at Liber 12045, Folio 744.

Tax ID No. 03-000-90041928

The improvements more commonly known as 1702 Crain Highway, Glen Burnie, MD 21061.   

The Property is believed to be improved by a 1-story retail building that contains approximately 2,700 +/- square feet of rentable area located at 1702 Crain Highway South, Glen Burnie, Maryland 21061. The Property is believed to be currently leased by the Seaside Seafood Carryout restaurant. The Tax Identification Number of the Property is 03-000-90041928.

Summary terms of sale: The Property will not be sold subject to any existing leases.  A deposit of Fifteen Thousand Dollars ($15,000.00) for the Property, payable in cash, certified check or other form acceptable to the Substitute Trustees, will be required of the purchaser(s) at the time and place of sale. The successful bidder will be required to increase the deposit to ten percent (10%) of the bid amount within five (5) business days of the date of sale by delivering certified funds to the Substitute Trustees in an amount sufficient to bring the total deposit to ten percent (10%) of the bid amount.  The balance of the purchase price shall be due at settlement in cash or by certified check together with interest on the unpaid balance of the purchase price at the rate of seven percent (7%) per annum from the date of sale to and including the date of settlement, which settlement shall occur within twenty (20) days following the final ratification of sale by the Circuit Court for Anne Arundel County, Maryland, unless said period is extended by the Substitute Trustees for good cause shown. Time is of the essence. If ratification or settlement is delayed for any reason, there shall be no abatement of interest.  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 and all other municipal charges and liens owed against the Property that are not otherwise extinguished as a matter of law as a result of the foreclosure sale shall be the responsibility of the purchaser and shall be paid by the purchaser at settlement.  At settlement, the purchaser shall provide the Substitute Trustees with all additional information and documentation reasonably requested by the Substitute Trustees and/or the Noteholder in order to comply with all applicable anti-money laundering, anti-terrorism or other applicable laws or regulations. The Substitute Trustees reserve the right to reject any and all bids, and to extend the time for settlement, at their discretion. 

The 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 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 Property, and subject to all matters and restrictions of record affecting the same, if any.  The purchaser at the foreclosure sale shall assume the risk of loss for the above-referenced Property immediately after the sale takes place.  It shall be the purchaser’s responsibility to obtain possession of the Property following ratification of the sale by the Circuit Court for Anne Arundel County, Maryland and conveyance of the Property by the Substitute Trustees to the purchaser.  The Property will be sold subject to all senior liens and encumbrances that are not extinguished by operation of law as a result of the foreclosure sale of the 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 Property might disclose, and agreements of record affecting the Property.

At settlement, the purchaser shall pay for 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.  As indicated above, the purchaser shall settle and comply with the sale terms set forth herein within twenty (20) days following final ratification of sale by the Circuit Court for Anne Arundel County, Maryland, unless said period is extended by the Substitute 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 fails to go to settlement as required, in addition to any other legal or equitable remedies available to the Substitute Trustees, the Substitute Trustees may, subject to further order of the court, resell the Property and retain and apply the aforementioned deposit to any deficiency in the purchase price sustained by the Substitute Trustees and/or the Noteholder, all costs and expenses of both sales, reasonable attorneys' fees, and any other damages sustained by the Substitute Trustees and/or the Noteholder as a result of the Purchaser’s default, including, without limitation, all incidental damages.  In the event a resale of the 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 Substitute Trustees are unable to convey the 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, the sale shall be void and of no effect, and the purchaser shall have no further claim against the Substitute Trustees or the Noteholder.

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 Substitute 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


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.