"Historic Ellicott City"

Stately Stone and Brick Former Bank Building
Approx. 3,000+/- Sq. Ft. of Renovated Office & Retail Space
& Office Furniture and Equipment
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Listing Details

Sold Price
$455,000
Auction Date
Auction Time
11:00 AM
Auction Note
Sold Prior To The Auction
Address
8137 Main Street, Ellicott City, MD, 21043
County
Howard County
Neighborhood
Historic Ellicott City
Additional Documents
Location Drawing
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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Sold Prior To The Auction
The Auction has been CANCELED

Shapiro, Sher, Guinot & Sandler
250 W. Pratt Street, 20th Floor
Baltimore, Maryland 21201
410-385-0202

SUBSTITUTE TRUSTEES' AND
SECURED CREDITOR'S AUCTION

- HISTORIC ELLICOTT CITY -

Stately Stone and Brick
FORMER BANK BUILDING

Comprising Approximately 3,000± Sq. Ft. of
Renovated Office & Retail Space

Immediately Thereafter
OFFICE FURNITURE & EQUIPMENT

Sale On Premises
8137 MAIN STREET
Howard County, MD 21043

Sold Prior To The Auction
The Auction has been CANCELED

WEDNESDAY, FEBRUARY 18, 2015
AT 11:00 A.M.

Real Property

     Under and by virtue of the power of sale contained in a certain Purchase Money Deed of Trust and Assignment of Leases and Rents (the "Deed of Trust") from Magnolia Development, LLC to the Trustees therein, dated September 25, 2009, and recorded among the Land Records of Howard County, Maryland (the "Land Records"), in Liber 12066, Page 133, the holder of the indebtedness secured thereby having appointed Scott W. Foley, Esq. and Joseph A. Pulver, Esq. to act as Substitute Trustees, in place and stead of the aforementioned Trustees, by Deed of Appointment of Substitute Trustees dated November 18, 2014 and recorded among the Land Records in Liber 15894, Page 170, default having occurred under the terms of the Deed of Trust and at the request of the party secured thereby, the Substitute Trustees will sell at Public Auction, on the premises, the following:

     All those fee simple lots of ground and the improvements thereon, situate and lying in Howard County, State of Maryland, and being more fully described in the above-referenced Deed of Trust. A copy of the purported metes and bounds description and location drawing (plat) may be found on the Auctioneer's web site. Zoning is believed to be HC - Historic Commercial District.

     The improvements are believed to be comprised of a two story stone and brick former bank building, located in historic Ellicott City's main retail, arts and antiques district. According to public tax records, the building was constructed in 1906. The property is believed to have been renovated in 2003 and most recently occupied by Creative Access, Inc., an architectural and interior design firm which vacated the premises.

     The building is believed to be comprised of an in-line structure with arched windows over wrought iron entry doors, built-up roof and wood frame windows. Interior finishes are believed to include original and reproduction architectural details, wainscoting, crown moulding, ornamental lighting and Remington and Sherman bank safe with safe deposit boxes. The first floor is believed to contain a reception area with fireplace, office with fireplace, kitchen and rest room, and loft mezzanine. The upper level has open clear span space. Basement. Mechanical systems are believed to include heat pump/central air conditioning, fire sprinkler system, 225 and 200 amp. electrical boxes, security alarm, electric water heater, sump pump and Comcast internet.

      Published annual real estate taxes are $6,679.08, based on the full value tax assessment of $452,900.

     NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate, but is offered for informational purpose only. However, no express or implied warranties or representations are made or may be inferred. Dimensions, square footage and acreage contained herein are more or less. Building area shown is gross building area and approximate. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the property and the permitted uses thereof.

     TERMS OF SALE (Real Property): A $25,000 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 within 24 hours at the Auctioneer's Office. The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. 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 Howard County at the offices of the Substitute Trustees. If payment of the balance does not take place within the specified time, in addition to any other legal or equitable remedies available to the Substitute Trustees and party secured by the Deed of Trust, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. The defaulting purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property. In the event the property is purchased by someone other than the party secured by the Deed of Trust, interest to be charged on the unpaid purchase money, at the rate stated in the Note executed in connection with the foreclosed Deed of Trust, from date of sale to date of settlement. If settlement is delayed for any reason, there will be no abatement of interest. All adjustments as of date of sale. Taxes and all other public charges and assessments payable on an annual basis, 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. The property will be sold in "AS IS" condition with "ALL FAULTS", without express or implied warranty as to the nature and description of the improvements as contained herein. The purchaser is responsible for, and the property is sold subject to, any and all environmental violations, matters, problems, conditions or hazards, whether latent or observable, if any, that may exist at or affect or relate to the property and to any governmental requirements affecting the same, nuisances, violation notices, building code violations, zoning code violations, critical area and wetland violations, encumbrances, easements, equitable servitudes, conditions, rights of way, restrictions,  rights of redemption, covenants, declarations, agreements, and restrictions of record affecting the property that are not extinguished by operation of law by the sale. In addition, the property is being sold subject to such state of facts that an accurate survey or physical inspection of the property might disclose. Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of sale forward. The purchaser waives and releases the Substitute Trustees, the holder of the indebtedness, 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 Substitute Trustees are 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 Substitute Trustees, the holder of the indebtedness or Auctioneers. Recordation costs, transfer taxes and all other costs incident to settlement to be paid by the purchaser. The conveyance of the property by the Substitute Trustees shall be by Substitute Trustees' Deed without covenant or warranty. Time shall be of the essence for the purchaser.

     Authority to cancel this sale rests solely with the Substitute Trustees and/or the Auctioneer. Prospective buyers should disregard all other statements and comments made by any other person or entity regarding minimum bids, pricing and cancellations of the sale. Additional terms may be announced at the time of sale. The Substitute Trustees reserve: (1) the right to accept or reject any or all bids; (2) the right to modify or waive the requirements for bidders' deposits and terms of sale and/or settlement; (3) the right to withdraw the property from the sale before acceptance of the final bid; and (4) the right to cancel or postpone the sale.

Scott W. Foley and Joseph A. Pulver,
Substitute Trustees


Personal Property

     Pursuant to a Financing Statement and certain Commercial Security Agreements from Creative Access, Inc., Debtor, recorded among the Financing Records of the Maryland State Department of Assessments and Taxation, Original File No. 0000000181211211, default having occurred thereunder, the undersigned secured party intends to sell at Public Auction on the premises, immediately following the sale of the real property as mentioned above, the following:

     Office furniture and equipment located on the premises and owned by the Debtor, including, but not limited to workstations, executive desks, tables, chairs, file cabinets, computer equipment, HP plotter, bookcases, office supplies, phone system, kitchen appliances, etc. THE PERSONAL PROPERTY WILL BE OFFERED AS AN ENTIRETY ONLY - NO DETAIL SALE.

     TERMS OF SALE (Personal Property): A $3,000 deposit, payable by cashier's check at time and place of sale. Balance to be paid in cash within 24 hours. Company checks may be accepted with approved bank letter of guarantee – contact Auctioneers for proper form. All items sold "AS IS, WHERE IS." Immediate removal required pursuant to presale announcement. Further particulars may be named at time of sale. Time is of the essence.

Howard Bank, Secured Party

No Buyer's Premium