MDDC News Logo
Follow Us

Baltimore City. FRIEDBERG PC 10045 Red Run Boulevard, Suite 160, Baltimore, MD 21117 ———————————— Substitute

Baltimore City. FRIEDBERG PC 10045 Red Run Boulevard, Suite 160, Baltimore, MD 21117 ———————————— Substitute

Daily Record (The), Feb 26, 2020

Baltimore City.
FRIEDBERG PC
10045 Red Run Boulevard, Suite 160,
Baltimore, MD 21117
————————————
Substitute Trustees' Sale Of
Leasehold Interest In Valuable Mixed Residential/Commercial
Property Improved By A Building, Furniture, Fixtures, And Equipment
Known As
402 W. Lombard Street, Baltimore, Maryland 21201
————————————
Under and by virtue of the power and authority contained in a Credit Line Deed of Trust dated August 3, 2006 (the "Deed of Trust"), and recorded among the Land Records of Baltimore City, Maryland, in Book 8215, page 426, between Berhe, Inc., as grantor, and A. David Horsman and Deborah A. Morgan as Trustees for SunTrust Bank, and assigned to ST Southeast, LLC by an Assignment of Deed of Trust and Security Instruments effective as of December 21, 2016 and recorded among the Land Records of Baltimore City, Maryland, in Book 18919, page 164, a default having occurred under the terms thereof, the holder of the indebtedness secured by the Deed of Trust having appointed Jeremy S. Friedberg, Esquire, and Gordon S. Young, Esquire, or either of them, of Friedberg PC, as Substitute Trustees, by Deed of Appointment of Substitute Trustees, duly executed on March 30, 2018, acknowledged and recorded among the Land Records of Baltimore City, Maryland, in Book 20050, page 84, the undersigned Substitute Trustee(s) will sell at public auction on the steps of the Circuit Court for Baltimore City, at the 100 North Calvert Street Entrance, Baltimore, Maryland 21202, on:
March 13, 2020 at 10:00 a.m.
THE LEASEHOLD INTEREST IN ALL THAT PROPERTY SITUATE IN BALTIMORE CITY, STATE OF MARYLAND, and being more fully described in a Credit Line Deed of Trust dated August 3, 2006, and recorded among the Land Records of Baltimore City, Maryland, in Book 8215, page 426, being described as all that parcel of land situate in Baltimore City, Maryland, Tax ID # 04-09-0654-001, and the improvements thereon known as 402 W. Lombard Street, Baltimore, Maryland. The Property will be sold subject to all conditions, liens, restrictions, easements, and agreements of record affecting same, if any, including any condominium or homeowner association dues and assessments. The sale includes all furniture, fixtures, and equipment described in that certain financing statement recorded with the Maryland State Department of Assessments and Taxation as instrument number 181300578 and assigned to ST Southeast, LLC.
FURTHER CONDITIONS OF SALE: The Property will be sold subject to all matters known and unknown, in "AS IS, WHERE IS" condition, without recourse and without either express or implied representation or warranty, including but not limited to the nature and description or use of the improvements contained therein or the environmental condition of the Property. The purchaser recognizes and agrees that any investigation, examination or inspection of the Property is within the control of the owner or other parties in possession and their agents and not within the control of the Substitute Trustees or their successors or assigns. The purchaser waives all claims and causes of action, whether known or unknown, against the Lender and the Substitute Trustees, their respective agents, and their successors and assigns, including but not limited to claims and causes of action respecting the Property and the environmental condition of the Property as provided by state or federal laws, ordinances, regulations, or otherwise. These provisions shall survive settlement.
TERMS OF SALE: A cash deposit or certified check of Forty Thousand Dollars ($40,000.00), or other form of deposit acceptable in the Substitute Trustees' sole discretion, shall be required of the successful bidder at the time and place of the sale. The successful bidder shall be required to increase the amount of the deposit to ten percent (10%) of the selling price within one (1) business day of the sale. The Substitute Trustees shall require all potential bidders to qualify prior to the commencement of bidding by showing evidence of their ability to deliver the required deposit at the time of the sale. The balance of the purchase price shall be due upon settlement, which shall be thirty (30) days after final ratification of sale by the Circuit Court for Baltimore City, unless said period is extended by the Substitute Trustees, their successors or assigns, for good cause shown, time being of the essence, interest at a rate of ten percent (10%) per annum shall be paid on unpaid purchase money from the date of sale to the date of settlement. There shall be no abatement of interest in the event additional funds are tendered before settlement or if settlement is delayed for any reason. The secured party herein, if a bidder, shall not be obligated to post a deposit, and shall not be obligated to pay interest if it is the purchaser. In the event that the purchaser fails to go to settlement as required, in addition to all other remedies including but not limited to attorneys' fees, the entire deposit shall be forfeited to the Substitute Trustees, and the Substitute Trustees may resell the Property at the risk and expense 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, attorneys' fees and all other charges due, and incidental and consequential damages. Taxes, water, rent and all other municipal liens, public charges and assessments payable on an annual basis shall be adjusted to date of sale and assumed thereafter by the purchaser. If applicable, condominium and/or homeowner association dues and assessments that may become due after the time of sale shall be the responsibility of the purchaser. Cost of all documentary stamps, state and city transfer taxes, document preparation, title insurance, and all other closing costs shall be borne by the purchaser.
If a survey is required for the purchaser to go to settlement or obtain title insurance, it shall be at the purchaser's expense, and the purchaser shall be required to go to settlement within the previously stated time frame. The purchaser shall have the responsibility of obtaining possession of the Property. In the event that the Substitute Trustees do not convey title for any reason, the purchaser's sole remedy is return of the deposit.
The improvements are being sold in an "AS IS" condition with the purchaser responsible for any and all housing or zoning code violations and environmental issues. The Property is sold without warranties, express or implied, as to land or improvements or title.
Additional terms and conditions may be announced on the day of sale. The Substitute Trustees reserve the right to accept or reject any and all bids. In addition, the Substitute Trustees reserve the right to modify the requirements of the bidders' deposits, to withdraw the Property from sale prior to termination of bidding, and to postpone the sale. Further, the Substitute Trustees reserve the right to set aside the sale for the purchaser's filing of bankruptcy without notice, reinstatement without notice, and/or inability to convey marketable title. The purchaser shall furnish Affidavit of identification and capacity required by Rule 14-305(b) of the Maryland Rules of Procedure.
The information contained herein was obtained from sources deemed to be reliable, but is offered for information purposes only. The Substitute Trustees do not make any representations or warranties with respect to the accuracy of this information.
JEREMY S. FRIEDBERG, Esquire, and
GORDON S. YOUNG, Esquire,
Substitute Trustees.

f26,mh4,11
© Apr 9, 2020, MDDC Press