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121 Prince
George St.
Association of Maryland
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BERNSTEIN & FELDMAN, P.A.
TRUSTEES' SALE OF
VALUABLE FEE SIMPLE IMPROVED PROPERTY
NO. 9515
BALTIMORE AVENUE
Under and by virtue of the power of sale contained in a certain Deed of Trust from Frank Holden to Jerome I. Feldman and Alan W. Bernstein, Trustee(s), dated November 9, 2006 and recorded among the Land Records of Prince George's County in Liber No. 26937, folio 256, Steven Andrew, LLC being the current holder of the Note(s) secured thereby, and default having occurred under the terms thereof, the undersigned Trustees will offer for sale at public auction, at the Circuit Courthouse thereof, 14735 Main Street, Upper Marlboro, Maryland, specifically at the entrance to the secured portion of the parking garage immediately next to the Bourne Wing/Commissioner's entrance and designated by the presence of the picnic table, Upper Marlboro, Maryland on
FRIDAY, MAY 23, 2008
All that lot of ground and the improvements thereon situate in Prince George's County, State of Maryland, and described as follows: BEING all that property described in a Deed of Trust dated November 9, 2006 and recorded among the Land Records of Prince George's County in Liber No. 26937, folio 256.
The improvements thereon being known as 9515 Baltimore Avenue, College Park, Maryland.
The improvements thereon consist of a commercial building.
The property will be sold in "As Is" condition, without warranties as to the improvements, subject to any existing building violations, etc. and also subject to liens, covenants, conditions, restrictions and agreements of record affecting same, if any. Neither the trustees nor their respective agents, successors or assigns make any representation or warranties, either expressed or implied with respect to the property including without limitation, description, use, recorded or unrecorded leases or other occupancy agreements, if any, operating and management agreements, physical conditions or to the environmental conditions of the subject property. The Trustees shall be required to convey insurable title.
A State of Mortgage Debt has been filed in the foreclosure case in the approximate amount of $685,838.56.
TERMS OF SALE: Cash or certified check
deposit in the amount of $50,000.00 will be required of the
purchaser (other than the above-named Holder) at the time and place
of sale, balance in cash at settlement, which shall be within twenty
(20) days of the final ratification of the sale by the Circuit Court
of Prince George's County, unless said period is extended by the
Trustees, their successors or assigns for good cause shown, time
being of the essence, and to bear interest at the rate of 8.25% per
annum from date of sale to date of settlement. In the event the
above-named Holder purchases the property at the sale as the high
bidder thereat, no deposit will be required and the requirement of
interest on the balance of the purchase price shall be waived. In
the event settlement is delayed for any reason, there shall be no
abatement of the interest. If the purchaser defaults, in addition to
all other remedies including but not limited to attorney fees, the
Trustees may declare the entire deposit forfeited and resell the
property at the risk and expenses of the defaulting purchaser. The
defaulting purchaser shall be liable for the payment of any
deficiency in the purchase price, all costs and expenses of both
sales, attorney fees and all other charges due and incidental and
consequential damages. Taxes, water/sewer charges, all other
municipal liens and charges, and condo/HOA dues, if any, to be
adjusted to date of sale. Ground rent, if any, whether incurred
prior to or after the sale to be paid by purchaser. All other public
charges and assessments payable on an annual basis, including
sanitary and/or metropolitan district charges to be adjusted for the
current year to date of sale and assumed thereafter by the
purchaser. Cost of all documentary stamps and transfer taxes shall
be borne by the purchaser. Purchaser shall have the responsibility
of obtaining possession of the property. In the event the Trustees
do not convey title for any reason, purchaser's sole remedy is
return of deposit, without interest thereon. The Trustees shall have
the right to terminate this contract in the event the Holder has
entered into any agreement with or accepted funds from or on the
behalf of the Borrower. Upon termination of the contract,
Purchaser's sole remedy shall be return of the deposit. Purchaser
agrees to pay a deed preparation and document review fee of $350.00
to the Seller's attorney and an additional fee of $250.00 for the
review of any motion, which may be subsequently filed with the Court
to substitute a purchaser herein
JEROME I.
FELDMAN
ROBERT H. CAMPBELL &
ASSOCIATES, LLC
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