"Perryville, MD" The Marina at Owens Landing

7.2 Acres - 2 Parcels
Office and Maintenance Building, 193 Boat Slips, Swimming Pool, Launch Ramp, Parking and Storage Areas
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Listing Details

Sold Price
$970,000
Auction Date
Auction Time
11:00 AM
Address
12 River Road, Perryville, MD, 21903
County
Cecil County
Neighborhood
Perryville
Additional Documents
Plat of both Parcel One and Parcel Two. See below for descriptions and plats of the separate parcels.
Rendering of both Parcel One and Parcel Two
Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Robert S. Glushakow, Solicitor
Nolan, Plumhoff & Williams, Chartered
502 Washington Avenue - Suite 700
Towson, Maryland 21204
(410) 823-7800

SUBSTITUTE TRUSTEES' &
SECURED CREDITOR'S SALE
- Perryville, MD -

THE MARINA AT
OWENS LANDING

COMPRISING 1.301± ACRES
Fronting on Susquehanna River
193± Boat Slips ♦ Travelift ♦ Dry Storage
Office & Maintenance Building
Inground Swimming Pool

AND ADJACENT PARCEL
COMPRISING 5.923± ACRES
Used for Parking and Boat Storage

Sale to Be Held at Marina Office
12 RIVER ROAD
Town of Perryville
Cecil County, Maryland 21903

FRIDAY, OCTOBER 24, 2014
AT 11:00 A.M.


Parcel One - Marina Property

      Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust, Assignment and Security Agreement from Linkous Land, LLC to the Trustees therein, dated March 7, 2008, and recorded among the Land Records of Cecil County, Maryland, in Book 2478, Page 247, the holder of the Guaranty of Payment and Performance secured thereby having appointed Robert S. Glushakow and Douglas L. Burgess to act as Substitute Trustees, in place and stead of the aforementioned Trustees, by instrument duly executed, acknowledged and recorded among the Land Records aforesaid, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Substitute Trustees will sell at Public Auction, in proceedings before the Circuit Court for Cecil County, Case No. 07-D-11-000514, the following:

      All that fee simple parcel of ground and the improvements thereon, situate and lying in Cecil County, State of Maryland and being more fully described in the above-referenced Indemnity Deed of Trust. See below for the link to metes and bounds description and plat. The property comprises 1.301 acres of land, more or less (Tax Parcel 07-022360).

      Legal Description of Parcel One

      Plat of Parcel One

      Pursuant to a Financing Statement and Security Agreement from Owens Marina, LLC to the Secured Party therein, recorded among the Financing Records of the Maryland State Department of Assessments and Taxation as File No. 000000018501533, default having occurred thereunder the Secured Party will sell at public auction all those items of personal property, owned by Owens Marina, LLC and located on the premises as part of the sale of the real property described above.  Items include a Marine Travelift, office and shop equipment, etc., to be sold as an entirety only.  The sale of the personal property under the secured creditors sale is subject to an IRS lien of record in the approximate amount of $15,100.  The purchaser shall be required to pay the amount of that lien at settlement. The sale by the Secured Creditor is without warranty relating to title, possession, or quiet enjoyment or the like, and the Collateral being sold will be transferred to the purchaser "as is," "where is," with all faults, and without representation or warranty. The Secured Creditor hereby disclaims any warranty of title, implied warranty of merchantability and any implied warranty that the collateral is fit for a particular purpose.

      The Marina at Owens Landing is situated on the eastern shore of the Susquehanna River in scenic Perryville, Maryland, opposite Garrett Island and south of the US-40 bridge. The Susquehanna River is the origin of the Chesapeake Bay, providing easy access and good water depths. The site is within walking distance of an Amtrak railroad station and the town center. I-95, Perryville Outlets and the Hollywood Casino are about 5 minutes drive north of the site. The marina comprises the waterfront view of McMullens Wharf Condominiums, a very attractive condominium complex. The property is believed to be served by public water and sewer. Public records for Cecil County in the Town of Perryville indicate that the property is located in a RM, residential-marine zoning district.

The property is currently improved as follows:

  • Fixed and floating wood docks and piers, currently comprising approximately 193 boat slips, approximately 50% of which are believed to be served by water and electric

     

     

  • Launch ramp with Travelift rails

     

     

  • Synthetic, concrete and wood plank bulkheads with landscaped walkways

     

     

  • Two story, vinyl sided office and maintenance shop building, approximately 3,884 square feet of gross building area (gba), with drive-in door, retail sales area, office and storage areas, 3 rest rooms, electric heat pump and central air conditioning; chain link fenced rear storage lot

     

     

  • Inground swimming pool
    Photos of auction property
  • Men's vinyl sided pool house, approximately 556 square feet (gba), 6 showers, 6 commodes
  • Women's vinyl sided pool house, approximately 556 square feet (gba), 6 showers, 6 commodes
  • Gravel driveway and parking area

      NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained throughout this advertisement are approximate and more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

      TERMS OF SALE - LOT ONE: A $100,000.00 deposit, payable by certified check or cashier's check will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price by 12:00 noon on Monday, October 27, 2014 at the Auctioneer's office. No deposit will be required of the Deed of Trust Beneficiary if the property is purchased by the Deed of Trust Beneficiary or Secured Party. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Cecil County. TIME IS OF THE ESSENCE FOR THE PURCHASER. If payment of the balance does not take place within the specified time, the deposit shall be forfeited and the property will be resold at the risk and expense of the defaulting purchaser. The Deed of Trust Beneficiary shall be entitled to all excess proceeds under a resale of the property. Interest to be charged on the unpaid purchase money at the rate stated in the Promissory Note filed in these proceedings, from date of sale to date of settlement. All adjustments as of date of sale. Taxes and all other public charges and assessments for the current year, including sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale and assumed thereafter by the purchaser. All costs incident to the settlement shall be paid by the purchaser with all costs of documentary stamps, transfer taxes and recording charges to be paid by the purchaser. The Substitute Trustees and the Deed of Trust Beneficiary shall pay no costs of any kind for closing the transaction including but not limited to the cost of any tax recapture assessments. The property will be sold in "AS IS, WHERE IS" condition, without express or implied warranty as to the nature, condition and/or description of the improvements, the ability of the property to be further developed or subdivided, the status of preliminary plan approvals or approvals from the Town of Perryville and governmental authorities having jurisdiction over the property, the existence or non-existence of hazardous waste or any existent or latent environmental condition affecting the property and the improvements. In that the sale is without representation or warranties, there are no further representations or warranties as to (I) the value, profitability, development potential, or marketability of the property; (ii) the suitability of the property for any particular purpose; (iii) the compliance or noncompliance of the property with any laws, rules, regulations, orders or requirements of governmental authorities, including, but not limited to, those pertaining to the development and subdivision of the property; (iv) the presence, absence, or delineation of any non-tidal wetlands upon the property, as defined by applicable law or regulation; (v) the adequacy of utilities, the installation of utilities, water, sewer, and other utility service to the property; (vi) the condition of soils on the property; (vii) any other matter relating to the property, its development and/or (viii) its usage as a marina, boat storage facility or otherwise.

      The sale shall be subject to any housing code violations, easements, agreements, tenancies, restrictions and/or covenants of record affecting same, if any. Conveyance shall be by Substitute Trustees' Deed without covenant or warranty, express or implied. The purchaser shall be responsible for complying with the registration of the property from those governmental authorities having jurisdiction over the property, if applicable, obtaining or finalizing development approvals, obtaining permits to conduct marina operations, boat storage operations and ensuring that the property, the facilities and the marina operations comply with applicable laws and regulations. If settlement is delayed for any reason, there will be no abatement of interest. This Advertisement may be amended or supplemented by oral announcements during the conduct of the sale, and any such announcements shall constitute further terms or conditions upon which the above described property will be offered for sale. The Substitute Trustees may reject and withdraw a bid by a prospective bidding purchaser at sale, if the Substitute Trustees determine that any bid so offered is not commensurate with the value of the property being foreclosed upon. The highest bidder acknowledged by the Substitute Trustees shall be the Purchaser, and in the event of any dispute among the bidders, the Substitute Trustees shall have the sole and absolute final discretion to determine the successful bidder or to resell the property. Purchaser shall be responsible for obtaining physical possession of the property, and the risk of loss shall be assumed by the purchaser from the date of sale. If the Substitute Trustees are unable to convey good and marketable fee simple title, the purchaser's sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit, this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Substitute Trustees, the Deed of Trust Beneficiary, the Solicitors or Auctioneer. The right to postpone, set over, or cancel the sale prior to the scheduled sale is reserved by the Substitute Trustees. Any such postponement, setting over, or cancellation will be announced on the scheduled date of sale.

Robert S. Glushakow and Douglas L. Burgess,
Substitute Trustees                                        

Chesapeake Bank of Maryland, Secured Party


Parcel Two - Parking Areas & Land
(Bank Owned Property)

      All that fee simple parcel of land, situate and lying in Cecil County, Maryland and described in a Deed, dated July 8, 2014, recorded among the Land Records of Cecil County, Maryland in Book 3595, Page 308, which legal description was revised pursuant to a Confirmatory Deed dated September 17, 2014 and recorded among the Land Records of Cecil County, Maryland in Book 3625, Page 137.

      Lot 2 comprises 5.923 acres of land, including 4.820 acres situated on the east and west sides of River Road and 1.103 acres situated on the east side of Roundhouse Drive, all acreage being more or less. The parcel is adjacent to the marina parcel on the south and is currently used for customer vehicle parking, boat storage and open space. Public records for Cecil County in the Town of Perryville indicate that the property is located in a RM, residential-marine zoning district.

 

 

      Confirmatory Deed and Legal Description of Parcel Two

      Plat of Parcel Two

      TERMS OF SALE (PARCEL TWO): A $10,000 deposit, payable by certified check or cashier's check, will be required of the Purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price by 12:00 noon on Monday, October 27, 2014 at the Auctioneer's office. Balance to be paid in cash at settlement, which shall take place within 60 days, unless settlement is extended by the seller at their sole discretion. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of sale to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on an annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale and assumed thereafter by the Purchaser. The property will be sold in "AS IS" condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of sale forward. The property will be sold in "AS IS, WHERE IS" condition, without express or implied warranty as to the nature, condition and/or description of the improvements, the ability of the property to be further developed or subdivided, the status of preliminary plan approvals or approvals from the Town of Perryville and governmental authorities having jurisdiction over the property, the existence or non-existence of hazardous waste or any existent or latent environmental condition affecting the property and the improvements. In that the sale is without representation or warranties, there are no further representations or warranties as to (i) the value, profitability, development potential, or marketability of the property; (ii) the suitability of the property for any particular purpose; (iii) the compliance or noncompliance of the property with any laws, rules, regulations, orders or requirements of governmental authorities, including, but not limited to, those pertaining to the development and subdivision of the property; (iv) the presence, absence, or delineation of any non-tidal wetlands upon the property, as defined by applicable law or regulation; (v) the adequacy of utilities, the installation of utilities, water, sewer, and other utility service to the property; (vi) the condition of soils on the property; (vii) any other matter relating to the property, its development and/or (viii) its usage as ancillary service to the marina, boat storage facility or otherwise. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. If the Seller is unable to convey good and marketable title, the Purchaser's sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser. Time is of the essence.

No Buyer's Premium

Manner of Sale

      Each parcel will be offered individually and the bids reserved. Then, both parcels will be offered as an entirety. The sale will be made in the manner producing the greater amount.

Additional Information

Published real estate taxes:
Parcel One - $2,793
Parcel Two - $3,262

Neighborhood Photos: