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-17-000340

CIRCUIT COURT FOR WICOMICO COUNTY, MARYLAND

 

SUBSTITUTE TRUSTEES’ SALE

OF VALUABLE IMPROVED REAL PROPERTY

KNOWN AS

“530 RIVERSIDE DRIVE, UNIT 103, SALISBURY, MARYLAND 21801”

(TAX MAP 0111, PARCEL 1496; TAX ACCOUNT NO. 13-063133)

AND

“530 RIVERSIDE DRIVE, BOAT SLIP NO. 7, SALISBURY, MARYLAND 21801”

(TAX MAP 0111, PARCEL 1496; TAX ACCOUNT NO. 13-063893)















 




            Under and by virtue of the Power of Sale and Authority contained in a certain Purchase Money Deed of Trust (“Deed of Trust”) from Robert L. Newman to Wade H. Insley, III, and Robert A. Benson, Trustees for the benefit of The Bank of Delmarva, Beneficiary, dated August 15, 2008, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2960, Folio 474, 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 July 28, 2017, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 4203, Folio 336, the undersigned Substitute Trustees, at the request of the Beneficiary 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 N. DIVISION STREET, SALISBURY, MARYLAND 21801,

 

ON THURSDAY, NOVEMBER 30, 2017, AT 10:30 A.M.

           

DESCRIPTION: ALL that property situate in the City of Salisbury, in the Camden Election District of Wicomico County and State of Maryland, which is more particularly described as Unit No. 103 in “River Place Condominium”, a Condominium which has been established by Condominium Declaration (including By-Laws) made by River Place, LLC, dated November 30, 2007, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2872, Folio 554, et seq.; all as the said unit and condominium are defined in the Declaration and as shown on those certain plats described in and recorded with the Declaration among the Land Records of Wicomico County, Maryland, in Plat Cabinet M.S.B. No. 15, Folio 488, et seq., and including an undivided percentage interest in the common elements of said condominium as more particularly referred to and specified with respect to the unit in the Declaration and as shown on the aforesaid Condominium Plats; TOGETHER WITH the exclusive use of Boat Slip No. 7 as shown on the aforesaid Condominium Plats. BEING the same property conveyed unto Robert L. Newman from River Place, LLC, by Deed dated August 18, 2008, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2960, Folio 469.

 

            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 and particularly the rights in common with others in the common elements of the aforesaid condominium and all other rights and privileges of a unit owner in said condominium. SUBJECT, however, to the obligations of such owner as more particularly set forth in the Condominium Declaration and related documents of record, as amended, if any. 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.

 

            IMPROVEMENTS:  The above described property consists of a one-story, first floor condominium unit believed to have approximately 1,638 square feet, more or less, of gross living area and containing 3 bedrooms and 2 bathrooms, together with the exclusive use of Boat Slip No. 7. The Condominium Unit and the exclusive use of Boat Slip No. 7 will be sold together.  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. 

 

  TERMS OF SALE:  A deposit of Seven Thousand Five Hundred Dollars ($7,500.00) 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 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 Deed of Trust, or any of its subsidiaries or related entities, interest shall be paid on the unpaid purchase money at the rate of three and one-half percent (3.50%) 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.  The Substitute Trustees do not make any representations or warranties, expressed or implied, as to the use, zoning or habitability condition of the premises on the property or the physical condition of, the description of, the environmental condition of, or title to the property.  There are no warranties as to the building’s compliance with any building, zoning or life safety code in effect and bidder should verify all matters in person.  Risk of loss passes at the date and time of sale.  Neither the Substitute Trustees, the holder of the indebtedness, nor the Auctioneer shall be responsible for any Federal, State or County environmental violations, if any exist, and the purchaser is responsible for, and the property is sold subject to, any environmental matter or condition, whether latent or observable, if any, that may exist at or affect or relate to the property and to any governmental requirements affecting same.  Neither the Substitute Trustees, the holder of the indebtedness, nor any other party makes any warranty or representation of any kind or nature regarding the 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.  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/or 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

                                                                        Reena J. Patel

                                                                        Substitute Trustees for the Purpose

                                                                        of Foreclosure 


410 546 2425

35640 Woodyard Road, Willards, Maryland

Email:  pete@prauctions.com