Auction Information
Auctioneer Jonathan Melnick Auctioneers and E.T. Newell 410-366-5555
Auction Date Jul 31 Auction
Location
410 N. PATTERSON PARK AVENUE
Baltimore, MD
Time 11:00AM
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AuctionZip Auctioneer ID# 6762

 

Law Office of Hunter C. Piel, LLC

205 Washington, Avenue, Suite 730

Towson, MD 21204

 

TRUSTEE’S SALE

THREE RENOVATED TOWNHOMES

 

410 N. PATTERSON PARK AVENUE

BALTIMORE, MARYLAND 21231;

 

520 N. PATTERSON PARK AVENUE

BALTIMORE, MARYLAND 21205; AND

 

524 N. PATTERSON PARK AVENUE

BALTIMORE, MARYLAND 21205

 

 

Under and by virtue of the power of sale contained in that certain  Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, executed by AZG Development, LLC, and dated March 31, 2017, and recorded among the Land Records of Baltimore City, Maryland, at Liber 19027, folio 193 (the “Deed of Trust”), the holder of the indebtedness secured by the Deed of Trust (the “Noteholder”) having appointed Hunter C. Piel (the “Trustee”) as  Trustee under the Deed of Trust, default having occurred under the terms of the Deed of Trust and at the request of the party secured thereby, the Trustee will offer for sale to the highest qualified bidder or bidders at a public auction to be held at the subject properties, 410 N. Patterson Park Avenue, Baltimore, Maryland 21231, 520 N. Patterson Park Avenue, Baltimore, MD 21205, and 524 N. Patterson Park Avenue, Baltimore, MD 21205 on:

 

Tuesday, July 31, 2018

at 11:00 a.m.

 

ALL OF THAT real property being situate in Baltimore City, Maryland, and the improvements thereon, in fee simple, being more particularly described in the Deed of Trust, and generally known as 410 N. Patterson Park Avenue, Baltimore, Maryland 21231 (“Parcel One”), 520 N. Patterson Park Avenue, Baltimore, Maryland 21205 (“Parcel Two”) and 524 N. Patterson Park Avenue, Baltimore, Maryland 21205 (“Parcel Three”) (collectively or individually, the “Property”).

 

TERMS OF SALE:  The Trustee will begin by offering Parcel One, Parcel Two and Parcel Three for sale individually and reserve the bid.  The Trustee will also offer Parcel One, Parcel Two and Parcel Three for sale as an entirety and will reserve the bid. The Trustee, in his sole and absolute discretion, shall determine the successful purchaser(s) of Parcel One, Parcel Two and Parcel Three based upon the highest cumulative bid price for Parcel One, Parcel Two and Parcel Three.  In the event that Parcel One, Parcel Two and Parcel Three are sold together as a single unit, a deposit in the amount of Fifteen Thousand Dollars ($15,000.00), payable in cash, certified check, or other form acceptable to the Trustee, in his sole and absolute discretion, will be required of the purchaser(s) at the time and place of sale.  In the event that Parcel One, Parcel Two and Parcel Three are sold separately, a deposit in the amount of Five Thousand Dollars ($5,000.00) for each parcel, payable in cash, certified check, or other form acceptable to the Trustee, in his sole and absolute discretion, will be required of the purchaser(s) at the time and place of sale.  The balance of the purchase price shall be due in cash or by certified check with interest on the unpaid balance of the purchase price at the rate of six percent (6%) per annum from the date of sale to and including the date of settlement.  In the event the Noteholder, 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.  The Trustee reserves the right to reject any and all bids and to extend the time for settlement for any reason.

 

            All senior liens, real estate taxes, recordation taxes, assessments, ground rents, water charges and municipal charges owed against the Property, which are not extinguished as a matter of law by the foreclosure sale, shall be the sole responsibility of the purchaser(s) and shall be paid for by the purchaser at settlem

 

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 Property or the improvement thereon.  The Property will also be sold subject to:  (a) all existing housing, building and zoning code violations; (b) all critical area and wetland violations; (c) all environmental problems, conditions and violations which may exist on or with respect to the Property; and (d) all matters and restrictions of record affecting the Property.  The purchaser(ent.  In the event taxes or other municipal charges owing on or with respect to the Property have been prepaid they shall be adjusted at settlement between the Trustee and the purchaser(s) to the date of the foreclosure sale.s) 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 Baltimore City, Maryland.

 

The Property will be sold subject to all of the following that are not extinguished as a matter of law by the foreclosure sale:  easements, conditions, liens, restrictions, rights of redemption, covenants, encumbrances, ground rents, ground leases, such state of facts that an accurate survey or physical inspection of the Property might disclose, and agreements of record.

 

The purchaser(s) shall pay all state and local transfer taxes, recordation taxes and fees, title examination costs, attorneys’ fees, conveyance fees and all other incidental settlement costs.  The purchaser(s) shall settle and comply with the sale terms within twenty (20) days following the final ratification of sale by the Circuit Court for Baltimore City, Maryland, unless said period is extended by the Trustee in Trustee’s sole and absolute discretion.  Time is of the essence.

 

In the event the purchaser(s) fails to go to settlement as required, in addition to any other legal or equitable remedies available, the Trustee may, without further order of the court, declare the aforementioned deposit forfeited and resell the Property at the purchaser’s sole risk and expense.  In such event, the defaulting purchaser(s) shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, reasonable attorneys’ fees, all other charges due, and incidental damages.  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 Trustee is 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(s), the sale shall be void and of no effect, and the purchaser(s) shall have no further claim against the Trustee 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 Trustee do not make any representations or warranties with respect to the accuracy of this information.

 

Hunter C. Piel,

Trustee

 

 

 

For further information, contact:

Hunter C. Piel, Esquire

Law Office of Hunter C. Piel, LLC

502 Washington Avenue, Suite 730

Towson, Maryland 21204

(410) 849-4888

 

 

Melnick Auctioneers, Inc.

912 East 25th Street

Baltimore, Maryland 21218

(410) 366-5555

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