Kenneth L. Hooper, and Reena J. Patel
Assignees for the Purpose of Foreclosure,
c/o Hearne & Bailey, P.A.
126 East Main Street
Salisbury, Maryland 21801
(410) 749-5144
CIVIL ACTION NO. C-22-CV-17-000422
CIRCUIT COURT FOR WICOMICO COUNTY, MARYLAND
ASSIGNEES’ SALE
OF VALUABLE REAL PROPERTIES KNOWN AS
504 CEMETERY STREET, SHARPTOWN, MARYLAND 21861
(TAX MAP 0400, PARCEL 0346, LOT 3; TAX ACCOUNT NO. 10-011752)
AND
508 CEMETERY STREET, SHARPTOWN, MARYLAND 21861
(TAX MAP 0400, PARCEL 0346, LOT 1; TAX ACCOUNT NO. 10-011760)
Under and by virtue of the Power of Sale and Authority contained in a certain Purchase Money Mortgage (“Mortgage”) from Delmarva Homes, Inc., Mortgagor, dated February 5, 2007, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2744, Folio 416, and a Mortgage Modification Agreement by Delmarva Homes, Inc., Mortgagor, dated June 5, 2012, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 3448, Folio 399, default having occurred under the terms thereof, and the holder of the indebtedness secured by the Mortgage having assigned said Mortgage unto Kenneth L. Hooper and Reena J. Patel, Assignees for the Purpose of Foreclosure, by Assignment of Purchase Money Mortgage, dated October 10, 2017, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 4237, Folio 456, the undersigned Assignees, at the request of the Lender will sell at public auction, to the highest bidder, the below referenced property AT THE COURT HOUSE ENTRANCE OF THE CIRCUIT COURT FOR WICOMICO COUNTY, AT THE COURT HOUSE STEPS, LOCATED AT 101 NORTH DIVISION STREET, SALISBURY, MARYLAND 21801,
ON THURSDAY MAY 31, 2018, AT 11:30 A.M.
LEGAL DESCRIPTION: Those two properties located in the Town of Sharptown, Wicomico County, Maryland, and more particularly described below:
ITEM ONE (Tax Account #10-011752); 504 Cemetery Street, Sharptown, Maryland 21861: All that certain tract, piece and parcel of land situate, lying and being in Sharptown Election District, Wicomico County, and State of Maryland, located and binding upon the Northwesterly side of Cemetery Street, and being designated as all of Lot 3, as shown on a plat entitled, “Subdivision Survey for Delmarva Homes, Inc.,” prepared by Dennis & Baumgartner Land Surveyors, Inc., dated October 9, 2006, and recorded among the Land Records of Wicomico County, Maryland, in Plat Book 15, Folio 274, containing 10,797 square feet, more or less. BEING a part only of the property conveyed unto Delmarva Homes, Inc., by Deed dated February 5, 2007, from Herman D. Wheatley and Iva Lee Wheatley, his wife, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2744, Folio 412 et seq.
IMPROVEMENTS: The above described property is unimproved. The aforesaid information was obtained from sources deemed to be reliable but is offered for informational purposes only and the Assignees do not make any representations or warranties with respect to the accuracy of this information.
ITEM TWO (Tax Account #10-011760); 508 Cemetery Street, Sharptown, Maryland 21861: All that certain tract, piece and parcel of land situate, lying and being in Sharptown Election District, Wicomico County, and State of Maryland, located and binding upon the Northwesterly side of Cemetery Street and the Easterly side of School Street, and being designated as all of Lot 1, as shown on a plat entitled, “Subdivision Survey for Delmarva Homes, Inc.,” prepared by Dennis & Baumgartner Land Surveyors, Inc., dated October 9, 2006, and recorded among the Land Records of Wicomico County, Maryland, in Plat Book 15, Folio 274, containing 10,778 square feet, more or less. BEING a part only of the property conveyed unto Delmarva Homes, Inc., by Deed dated February 5, 2007, from Herman D. Wheatley and Iva Lee Wheatley, his wife, and recorded among the Land Records of Wicomico County in Liber M.S.B. No. 2744, Folio 412 et seq.
IMPROVEMENTS: The above described property is improved by a single-story home containing 1,320 square feet, more or less, with three bedrooms and two full baths. The aforesaid information was obtained from sources deemed to be reliable but is offered for informational purposes only and the Assignees do not make any representations or warranties with respect to the accuracy of this information.
MANNER OF SALE: The Assignees will offer for sale Items One and Two individually, and will reserve the bids thereon. The Assignees will then offer for sale, as an entirety, Items One and Two, and will reserve the bid thereon. The Assignees, in their sole and absolute discretion, shall then be entitled to select the bid or bids that result in the highest price or prices. The Assignees also reserve the right to change the method of bidding in their sole and absolute discretion by announcement made at the time and place of sale.
TERMS OF SALE: For Item One, a deposit of Two Thousand Five Hundred Dollars ($2,500.00) will be required of the purchaser on the day of sale. For Item Two, a deposit of Five Thousand Dollars ($5,000.00) will be required of the purchaser on the day of sale. For the sale of Items One and Two as an entirety, a deposit in the amount of Seven Thousand Five Hundred Dollars ($7,500.00) will be required of the purchaser of Items One and Two as an entirety on the day of sale. Said deposit shall be in the form of cash, certified or cashier’s check at the time and place of sale, or other form of security, at the sole discretion of the Assignees, the balance of the purchase price to be secured to the satisfaction of the Assignees. In the event the holder of the indebtedness secured by the Mortgage, or its subsidiaries or related entities, is the successful bidder, the deposit shall not be required. The balance in cash shall be due at settlement which shall be within twenty (20) days after final ratification of sale by the Circuit Court for Wicomico County, Maryland, unless such period is extended by the Assignees, their successors or assigns, for good cause shown, time being of the essence. In the event the property is purchased by someone other than the holder of the indebtedness secured by the Mortgage, or any of its subsidiaries or related entities, interest shall be paid on the unpaid purchase money at the rate of five and three quarters percent (5.75%) from date of sale to the date of settlement. In the event settlement is delayed for any reason and the property is purchased by someone other than the holder of the indebtedness, its subsidiaries and/or affiliates, there shall be no abatement of interest caused by the delay. If payment of the balance does not take place within twenty (20) days of ratification, unless said period is extended by the Assignees, for good cause shown, time being of the essence for the purchaser, in addition to any other legal or equitable remedies available to them, the Assignees may declare the entire deposit forfeited and resell the property at the risk and cost of the defaulting purchaser. In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of sale, attorneys’ fees and all other charges incurred by the Assignees. The purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property. The purchaser is advised that because of the presence of a junior federal tax lien filed against the property, settlement may be delayed until the statutory period for redemption of such lien has elapsed. The property will be sold in “AS IS,” “WHERE IS” condition without recourse, representations or warranties, either expressed or implied, as to its nature, condition, description, or its suitability for a particular or general purpose. Quantity or quality of the land and improvements is not of the essence. Taxes, rents, annually payable public charges and assessments, water and sewer charges, including the front foot benefit charges of the appropriate governing agency, if any, and association dues, if applicable, will be adjusted to the date of sale and thereafter assumed by the purchaser. All costs of conveyancing, including attorney’s fees, state documentary stamps, agricultural transfer tax, state and county transfer taxes and recordation taxes will be paid by the purchaser. Purchaser shall be responsible for obtaining physical possession of the property. In the event that the property is occupied by tenants/patrons, the Assignees assume no responsibility for security deposits or other monies paid by tenants/patrons to anyone. The purchaser is purchasing the property subject to any Wicomico County and/or Town of Sharptown violations and any fines related thereto and shall be responsible for abating said violations, if any, and the payment of said fines related thereto. The purchaser’s sole remedy at law or in equity, in the event the Assignees are unable to convey marketable title to the property, by reason of any defect in the title or for any reason otherwise, shall be limited to the return of the deposit. Upon return of the deposit, the sale shall be null and void and of no effect, and the purchaser shall have no further claims against the Assignees or their respective agents, attorneys, employees, successors and assigns. Risk of loss passes at the date and time of sale. Neither the Assignees, the holder of the indebtedness, nor any other party makes any warranty or representation of any kind or nature, either expressed or implied, regarding the use, zoning, life safety, habitability, physical condition of, the description of, the environmental condition of, or title to the property. Purchaser shall furnish an Affidavit of Identification and Capacity pursuant to Rule 14-305(b) of the Maryland Rules of Procedure. The conveyance of the property by the Assignees to the purchaser at settlement shall be by Assignees Deed without covenant or warranty. The Assignees reserve the right to reject any and all bids. The Assignees reserve the right to postpone sale by public announcement at the time and place of sale. The Assignees reserve the right to announce additional terms at the time of sale. If the holder of the indebtedness secured by the Mortgage or any of its subsidiaries or affiliates is the successful bidder, it shall be exempt from the terms of sale set forth herein, including the requirement for a deposit. The holder of the indebtedness secured by the Mortgage shall be permitted to bid at sale. The contract of sale between the Assignees, as seller, and the purchaser (the “Contract of Sale”) shall include, by reference, all the terms and conditions contained herein, as well as such other terms the Assignees deem necessary and appropriate. Prior to bidding and as a condition of bidding, all prospective bidders shall register and display photo identification, deposit funds and when bidding as an agent, provide a recordable power of attorney. When a corporation or limited liability company is bidding, it shall also provide evidence that it is in good standing with its state of incorporation. The sale may be recorded, televised, videotaped and/or broadcast. For information, please contact Kenneth L. Hooper and/or Reena J. Patel, Assignees, at (410) 749-5144, or Pete Richardson Auction Sales & Service, Inc. at (410) 546-2425.
The information contained herein was obtained from sources deemed to be reliable but is offered for informational purposes only. The Assignees, Auctioneer, and the holder of the indebtedness, do not make any representations or warranties with respect to the accuracy of the information contained herein. Prospective purchasers are urged to make their own inspection and consult with their own attorneys for legal issues.
Kenneth L. Hooper and Reena J. Patel,
Assignees for the Purpose of Foreclosure