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-09-CV-19-000212
CIRCUIT COURT FOR DORCHESTER COUNTY, MARYLAND
ASSIGNEES’ AND SECURED PARTY’S SALE
OF VALUABLE IMPROVED REAL PROPERTY
AND MANUFACTURED/MOBILE HOME KNOWN AS
“5863 SHARPTOWN ROAD, RHODESDALE, MARYLAND 21659”
(TAX MAP 0036, PARCEL 0153; TAX ACCOUNT NO. 01-007890)
Under and by virtue of the Power of Sale and Authority contained in a certain Purchase Money Mortgage (“Mortgage”) from Kevin W. Covey, dated September 12, 2011, and recorded among the Land Records of Dorchester County, Maryland, in Liber No. 1050, Folio 132, as modified by a Mortgage Modification Agreement, dated May 23, 2013, and recorded among the Land Records of Dorchester County, Maryland in Liber No. 1152, Folio 482, and pursuant to the Authority contained in a Security Agreement, dated September 12, 2011, from Kevin W. Covey to Lender/Secured Party, together with a Financing Statement recorded among the Land Records of Dorchester County, Maryland in Liber No. 1050, Folio 139, 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 September 18, 2019, and recorded among the Land Records of Dorchester County, Maryland, in Liber No. 1539, Folio 351, the undersigned Assignees, 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 DORCHESTER COUNTY, AT THE COURT HOUSE STEPS, LOCATED AT 206 HIGH STREET, CAMBRIDGE, MARYLAND 21613,
ON TUESDAY, OCTOBER 27, 2020, AT 10:30 A.M.
LEGAL DESCRIPTION: All that lot or parcel of land situate and lying and being in the Fork Election District of Dorchester County, Maryland, more particularly described as follows: All that lot, piece or parcel of land situated on the southwest side of the state road leading from the town of Eldorado to Sharptown, in Fork Election District, Dorchester County, State of Maryland, and bounded by the said state road, the lands now or formerly of Elmer Rathel, lands formerly owned by George E.H. Wheatley, and the farm formerly owned by Hermon Gould, and better described as follows, to wit: BEGINNING for the outlines of the same at a bounder planted on the southwest side of said state road, and thence runs and binds with the same South 29½° East 45 perches, to another bounder; thence runs North 89° West, 11.20 perches, binding with the Rathel lands, to another bounder; thence runs South 5° East 13.40 perches, still binding with the Rathel lands, to another bounder, and to lands formerly owned by Luther W. Marine; thence runs and binds with the same North 29½° West 51 perches to another bounder and to the Gould lands; thence runs and binds with the same North 62¾° degrees East 17.44 perches to the place of beginning, containing 4 acres and 152 square perches of land, more or less, according to a survey dated November 23, 1938, by C.E. Knowles, Surveyor, and recorded among the Land Records of Dorchester County, Maryland, in Liber P.L.C. No. 136, Folio 730. Property ID #01-007890.
IMPROVEMENTS: The above described property is improved by a one-story manufactured/mobile home. It is believed but not represented that the manufactured/ mobile home is a 1990 OASP TL believed to have approximately 1,200 square feet, more or less, of gross living area and containing 3 bedroom and 2 bathrooms. Pursuant to the UCC Security Agreement and the Financing Statement referenced above, by and between Kevin W. Covey and Lender/Secured Party, the above described real property will be sold, together with the aforesaid trailer/mobile home on the date of sale. To the extent that the manufactured/mobile home constitutes personal property, the sale of the manufactured/mobile home shall be a unified sale as provided for in Section 9-604 of the Uniform Commercial Code. 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. Bidders accept the property “AS IS” and “WHERE IS.” Quality or quantity of the land and improvements is not of the essence. Secured Party makes no representations as to the condition or status of the manufactured/mobile home. The purchaser shall be responsible for the payment of Maryland sales tax, if any. The above described real property and the aforementioned manufactured/mobile home are collectively called the “property.” The property will be offered for sale as an entirety.
TERMS OF SALE: A deposit Five Thousand Dollars ($5,000.00) 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 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 Dorchester County, Maryland, unless such period is extended by the Assignees, 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 Mortgage, or any of its subsidiaries or related entities, interest shall be paid on the unpaid purchase money at the rate of seven percent (7.00%) 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 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 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 Dorchester County 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 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, 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 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
Auctioneer: Pete Richardson Auction Sales & Service, Inc.
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