Trustees' Sale: Valuable Real Estate in the "Navy Yard" Neighborhood of SE Washington, DC

1102-1104 8th St. SE., Washington, DC 20003

Sold

TRUSTEES' SALE of Valuable Real Estate located in the District of Columbia known as 1102-1104 8th Street, SE, Washington, DC 20003

By virtue of a certain Deferred Purchase Money Deed of Trust duly recorded September 28, 2006 as Instrument Number 2006132348 among the Land Records of the District of Columbia and any modifications thereto (the "Deed of Trust"), and in accordance with the Notice of Foreclosure dated and recorded April 24, 2018, Public law 90-566, and at the request of the party secured by the Deed of Trust, one of the Substitute Trustees having been substituted for the trustee(s) named in said Deed of Trust, will sell, at public auction, within the office of ALEX COOPER AUCTIONEERS, INC., 4910 Massachusetts Avenue, NW, #100, Washington, DC 20016, on May 24, 2018 at 11:45 AM, some or all of the property described in said Deed of Trust, including certain land and premises, situate in the District of Columbia, and being now known for purposes of assessment and taxation as Lot 0021, Square 0930, and more particularly described as follows:

Lot 21 in Square 930, in a subdivision made by Herbert A. Lehner, as per plat recorded in Liber No. 191 at Folio 163 among the Records of the Office of the Surveyor of the District of Columbia. (the “Property”)

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Terms of sale: The Property will be sold "WHERE IS" and in "AS IS" condition and the purchaser shall assume the risk of loss or damage to the property after the time of the foreclosure sale. Neither the Trustees, the party secured by the Deed of Trust, the Auctioneer, nor any of their respective agents, successors or assigns (collectively, the "Selling Parties") make any representation or warranties, express or implied, with respect to the Property, or any tenancies or parties in possession, including without limitation, the description, use, structural integrity, physical condition, construction, extent of construction, workmanship, materials, habitability, marketability, or insurability (hazard or title), subdivision, zoning, environmental condition, compliance with building codes or other laws (such as Americans with Disabilities Act), ordinances or regulations, fitness for a particular purpose, or merchantability of all or any part of the Property. The purchaser waives and releases the Selling Parties from any and all claims the purchaser or the purchaser's successors or assigns may have now or may have in the future relating to the sale or the condition of the Property. The Property will be sold subject to rights of parties in possession, if such rights have priority over the deed of trust, any building or housing violations, easements, agreements, restrictions, terms, rights of way, covenants, conditions, rights of redemption, other encumbrances, statutes, if any, affecting the Property, whether or not of record and all statutes, ordinances or court rules, including any lien for unpaid condominium assessments pursuant to D.C. Code § 42-1903.13, if applicable. The Property is also sold subject to a post-sale audit of the status of the loan. All interested bidders are specifically encouraged to review all federal, state and local statutes, ordinances, and court rules concerning the Property and to contact the appropriate governmental authorities prior to the sale date regarding the Property, including without limitation, encumbrances, liens, violations, permitted uses and the requirements, if any, for registration, obtaining possession, cure of violations, construction, completion, or development. The Trustees will not deliver possession to the purchaser, who shall be solely responsible for obtaining possession of the property.

A deposit of $250,000 will be required at the time of sale, such deposit to be in cash, certified check, or in such other form as the Trustees may determine, in their sole discretion. Whenever the purchaser is also the party secured by the said Deed of Trust, payment of the required deposit and purchase price is made by crediting the amount thereof to the indebtedness. The balance in cash or immediately available funds, with interest at eight per centum (8%) per annum from the date of sale to the date of settlement or the balance of the proceeds are received by the Trustees, whichever is later, shall be paid within thirty (30) days after the date of sale. There will be no abatement of interest due from the purchaser in the event additional funds are tendered before settlement or if settlement is delayed for any reason. The party secured by the Deed of Trust shall not be obligated to pay interest if it is the purchaser. TIME IS OF THE ESSENCE FOR THE PURCHASER.

Adjustment of all current year’s real property taxes are adjusted as of the date of sale, and thereafter assumed by the purchaser. Taxes due for prior years including costs of any tax sale are to be paid by the purchaser. All other public and/or private charges, assessments, sewer, water, drainage and other public improvements, to the extent such amounts survive foreclosure, to be paid by the purchaser whether incurred prior to or after the 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. Conveyance of the Property shall be by Trustees' Deed, without covenant or warranty, express or implied, specifically including marketability or insurability (hazard or title), unless otherwise required by statute, court rule or the Deed of Trust. In the event the Trustees are unable for any reason to convey title, the purchaser's sole remedy at law or in equity shall be to request and receive a return of the deposit. Upon return of the deposit, this sale shall be void and of no effect and the purchaser shall have no further claim against the Trustees.

Compliance with terms of sale shall be made within thirty (30) days after the date of sale or the deposit shall be forfeited. In the event of a default, all expenses of this sale (including attorney's fees and trustee's commission) shall be charged against and paid out of the forfeited deposit as determined by the Trustees unless expressly prohibited by statute, court rule or the Deed of Trust. The Trustees may then readvertise and resell the Property at the risk and cost of the defaulting purchaser (such risk and cost shall include any attorney's fees or costs in connection with all litigation, including appeals, involving the Property or the proceeds of a resale; or contesting the Selling Parties' right to conduct a resale; or seeking to invalidate this sale unless expressly prohibited by statute, court rule or the Deed of Trust; and, if the defaulting purchaser has received any 'rent' from any occupant or tenant of the Property such amount received shall be promptly delivered to the Trustees; or, without reselling the Property, the Trustees may avail themselves of any legal or equitable remedies against the defaulting purchaser). In the event of a resale, the defaulting purchaser shall not be entitled to receive the surplus, if any, even if such surplus results from improvements to the Property by said defaulting purchaser. This advertisement, as amended or supplemented by any oral announcements during the conduct of the sale, constitutes the entire terms upon which the property shall be offered for sale.

Thursday

May 24, 2018 11:45am EDT

To be held at The office of Alex Cooper Auctioneers, 4910 Massachusetts Ave., NW, Suite 100, Washington, DC 20016

Sold Price

$3,275,000

Watch

Auction Agent

Jody S Krieger

jody@alexcooper.com

202-364-0306

1102-1104 8th St. SE., Washington, DC 20003

Property Location

Auction Agent

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