Attached Files
(DOC)

THIS SALE IS CANCELLED BANK FORECLOSURE

3 BUILDING LOTS

LOT NO. 5 (APPROX. 4.49± ACRES) - 17301 HAW LANE

LOT NO. 6 (APPROX. 4.80± ACRES) - 17309 HAW LANE

LOT NO. 7 (APPROX. 5.31± ACRES) - 17312 HAW LANE

SILVER SPRING, MONTGOMERY COUNTY, MD

DIRECTIONS:  From 495—Take Exit 28 (New Hampshire Ave./Rt. 650) North to right on Ednor Rd., then left on Haw La.  From I-95—Take Exit 33 (Rt. 198/Sandy Spring/Spencerville Rd.) West to right on Rt. 650, right on Ednor, then left on Haw La.

Under and by virtue of the power and authority contained on those certain Deeds of Trust from Don Edward Thurber to the Trustees therein, dated August 11, 2006 and recorded among the Land Records of Montgomery County, Maryland in Liber 32880, Folios 520 (Lot No. 7), 540 (Lot No. 5) and 560 (Lot No. 6), respectively, a default as defined therein having occurred, and at the request of the party secured thereby, the undersigned Substitute Trustees will offer for sale at public auction, on the premises.

ALL those lots of ground and improvements (if any) thereon situate in Montgomery County, Maryland, and described as follows:

BEING KNOWN AND DESIGNATED as Lot Nos. 5, 6 and 7, all in Block lettered “B”, as shown on the plat entitled “Subdivision Record Plat, Lots 5, 6 & 7, Outlots A, B & C, Block B, Cedar Knolls Farm”, which plat is recorded among the Land Records of Montgomery County, Maryland as Plat No. 22284.

The property will be sold in fee simple.  An Affidavit of Mortgage Debt has been filed with the Clerk of the circuit Court for Montgomery County, Maryland, in Case No. 321939-V (as to Lot No. 5, in Case No. 321938-V (as to Lot No. 6), and in Case No. 321937-V (as to Lot No. 7).

TERMS OF SALE:  The 3 lots will be sold individually and not as an entirety.  A deposit of $15,000.00 per lot will be required of the purchaser(s).  All deposits shall be made at the time and place of sale, and shall be paid in cash or by certified check drawn upon a responsible banking institution.  The secured party herein, if a bidder, shall not be required to make a deposit.  The balance of the purchase price shall be paid in cash within twenty (20) calendar days of the final ratification of the sale by the Circuit Court for Montgomery County, Maryland.  Time is of the essence as to the purchaser.  If payment of the balance does not take place within twenty (20) calendar days of ratification, the deposit will be declared forfeit, and applied as required by Maryland law, with the remainder (if any), to be applied at the discretion of the Substitute Trustees.  In addition to any other legal or equitable remedies available to the Substitute Trustees and the secured party, the property will be resold at the risk and expense of the defaulting purchaser, and the defaulting purchaser shall be liable for any deficiency resulting from the resale, as well as all costs and expenses of the resale, including, but not limited to, attorneys' fees and all other charges incurred by the Substitute Trustees.  In the event the property is purchased by someone other than the secured party, (a) interest at the rate of eight percent (8%) shall be paid on unpaid purchase money from the date of sale to the date funds are received in the office of the substitute trustees, and (b) at settlement, the purchaser shall pay to the attorneys representing the Substitute Trustees a fee in the amount of $295.00 for review of the settlement documents.  Purchaser agrees to pay $295.00 to the Substitute Trustees’ attorneys for review of any motion to substitute a purchaser, if applicable, payable at the time of execution.  In the event settlement is delayed for any reason (and the property is purchased by someone other than the secured party), there shall be no abatement of interest.  The Substitute Trustees reserve the right to reject any and all bids, to accept alternate forms of deposit, and to extend the settlement date.  The secured party shall have the right to bid by proxy through the auctioneer.  Taxes, water rent, rent and all other public charges and assessments payable on an annual basis, including sanitary and metropolitan district charges and special paving taxes, and condominium or homeowner's association dues, if any, to be adjusted to date of sale, and paid thereafter by purchaser.  Cost of all documentary stamps, State of Maryland, and Montgomery County, Maryland transfer taxes, and any other charges incidental to the recording of the Deed to the purchaser shall be borne by the purchaser.  The purchaser at the foreclosure sale shall assume the risk of loss for the property immediately after the sale.

The property will be sold in "AS IS" condition, without either express or implied warranty or representation, including, but not limited to, the description, fitness for a particular purpose/use, structural integrity, physical condition, construction, extent of construction, workmanship, materials, habitability, zoning, subdivision, environmental condition, merchantability, compliance with building codes or other laws, ordinances or regulations, or other similar matters.  In addition, the property will be sold subject to all existing covenants, conditions, restrictions, uses, limitations, obligations, easements, equitable servitudes, agreements of record affecting the same, if any, including but not limited to that certain Declaration of Covenants recorded at Liber 21178, Folio 758 and Certificate of Compliance Agreement recorded at Liber 32083, Folio 26, and such state of facts that an accurate survey or physical inspection of the property might disclose. 

If the Substitute Trustees are unable to convey any portion of 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.  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 secured party.

The information contained herein was obtained from sources deemed to be reliable, but is offered for information purposes only.  The auctioneer, the Substitute Trustees, the secured party and their attorneys do not make any representations or warranties with respect to the accuracy of this information, and shall not be liable individually or otherwise for any matters relating to this sale and/or the property.  PROSPECTIVE PURCHASERS ARE URGED TO PERFORM THEIR OWN DUE DILIGENCE WITH RESPECT TO THE PROPERTY PRIOR TO THE FORECLOSURE AUCTION.

Connie Williams Jack and J. Michael Millard, Substitute Trustees