410 546 2425

35640 Woodyard Road, Willards, Maryland

Email:  ruth@prauctions.com


 Kenneth L. Hooper and Reena J. Patel

Substitute Trustees 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-18-000469

CIRCUIT COURT FOR WICOMICO COUNTY, MARYLAND

 

SUBSTITUTE TRUSTEES’ SALE

OF VALUABLE IMPROVED REAL PROPERTY

KNOWN AS

“620 NAYLOR MILL ROAD, SALISBURY, MARYLAND 21801”

(TAX MAP 0100, PARCEL 0013; TAX ACCOUNT NO. 09-051279)

 

            Under and by virtue of the Power of Sale and Authority contained in a certain Commercial Deed of Trust (“Deed of Trust”) from JEB I, LLC, Grantor, dated January 31, 2007, and recorded among the Land Records of Wicomico County, Maryland, in Liber. M.S.B. No. 2742, Folio 739, default having occurred under the terms thereof, and the holder of the indebtedness secured by the Deed of Trust having appointed Kenneth L. Hooper and Reena J. Patel, Substitute Trustees for the Purpose of Foreclosure, by Deed of Appointment of Substitute Trustees, dated October 23, 2018, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 4392, Folio 389, the undersigned Substitute Trustees, at the request of the Lender/Secured Party, will offer for sale 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 TUESDAY, DECEMBER 4, 2018, AT 10:00 A.M.

 

            DESCRIPTION:  ALL those lots or parcels of land, situate, lying and being in the City of Salisbury, Salisbury Election District, Wicomico County, State of Maryland, and being located on the Southerly side of and binding upon Naylor Mill Road and being fully shown, described and designated as all of Lots Nos. 5 and 6, on a plat entitled “Subdivision for Frederick W. Lauridsen,” dated February 6, 1984, and prepared by Hampshire, Hampshire & Andrews, Surveyors, and recorded among the Land Records of Wicomico County, Maryland, in Plat No. 7, Folio 141-562.  BEING the same property conveyed unto JEB I, LLC, from 620 Naylor Mill Road, L.L.C., by Deed, dated January 31, 2007, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2742, Folio 732.

            IMPROVEMENTS:  The subject property is approximately 2.4400 acres, more or less and is believed to be improved by four (4) building which total an estimated 26,804 square feet, more or less. There are two large buildings of concrete block construction on concrete pads. The two smaller buildings at the rear of the site are frame garage style structures with overhead doors providing main access. Interior finishes are typical of office, retail and warehouse buildings. The aforesaid information was obtained from sources deemed to be reliable but is offered for informational purposes only and the Substitute Trustees do not make any representations or warranties with respect to the accuracy of this information.  Bidders accept the property “AS IS” and “WHERE IS.”  Quality or quantity of the land and improvements is not of the essence.

            All of the above said property described above being conveyed TOGETHER WITH the improvements and fixtures thereon and the rights and appurtenances thereto belonging or appertaining.  The above described property is being offered for sale SUBJECT to any violation notices and subject to and together with all covenants, agreements, conditions, liens, easements and restrictions as may appear among the Land Records of Wicomico County, Maryland, affecting same, if any.

            TERMS OF SALE:  A deposit of Fifty Thousand Dollars ($50,000.00) will be required of the purchaser. 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 Substitute Trustees, the balance of the purchase price to be secured to the satisfaction of the Substitute Trustees. In the event the holder of the indebtedness secured by the Deed of Trust, 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 Substitute Trustees, their successors in office, 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 Deed of Trust, or any of its subsidiaries or related entities, interest shall be paid on the unpaid purchase money at the rate of six percent (6.00%) 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, in addition to any other legal or equitable remedies available to them, the Substitute Trustees 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 Substitute Trustees. The purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property. 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 Substitute Trustees 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 City of Salisbury Code 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 Substitute Trustees 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 Substitute Trustees or their respective agents, attorneys, employees, successors and assigns. Risk of loss passes at the date and time of sale.  Neither the Substitute Trustees the holder of the indebtedness, nor any other party makes any warranty or representation of any kind or nature, 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 Substitute Trustees to the purchaser at settlement shall be by Substitute Trustees’ Deed without covenant or warranty. The Substitute Trustees reserve the right to reject any and all bids. The Substitute Trustees reserve the right to postpone sale by public announcement at the time and place of sale. The Substitute Trustees reserve the right to announce additional terms at the time of sale. If the holder of the indebtedness secured by the Deed of Trust 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 Deed of Trust shall be permitted to bid at sale.  The contract of sale between the Substitute Trustees, 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 Substitute Trustees 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 Reena J. Patel, Substitute Trustees, 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 Substitute Trustees, 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

                                                          Substitute Trustees for the Purpose of Foreclosure

 

Auctioneer:  Pete Richardson Auction Sales & Service, Inc.

 

The Daily Times: Thursday, November 15, 2018; Thursday, November 22, 2018; and
                               Thursday, November 29, 2018.