Real Estate Auction

- PASADENA -

7.91 ACRE±
WOODED HOMESITE




Sale On Premises
8193 FOREST GLEN DRIVE
"Forest Glen" - Near Main Creek

Anne Arundel County, Maryland 21122

SATURDAY, OCTOBER 29, 2005
AT 10:30 A.M.


LOCATION:

Magnificent 7.91 acre wooded site is located north of Mountain Road (MD-177) between Lake Shore and Ventnor. The property is situated just north of the Saybrooke custom subdivision, near recently constructed executive homes. The neighborhood is water-oriented, well kept, landscaped and is only five minutes east of MD-100.

General Directions - From I-97 follow MD-100 east to end. Continue on Mountain Road to Forest Glen Drive turn left and follow to site on left, adjacent to 8195 Forest Glen Drive.

LOCATION MAP & DIRECTIONS

SITE:

Know as Lot 4, Parcel 322, Grid 21 on Anne Arundel County Tax Map 18, the property is part of a five lot family conveyance subdivision of part of "Forest Glen - Colonial Green." The front portion of the lot has a large building envelope, the rear is a forest conservation easement. The topography is fairly level and mostly wooded.

The property fronts 125' along Forest Glen Drive, expanding to a width of approximately 690' with an approximate depth of 670', comprising 344, 686 square feet or 7.91 acres of land.

Well and septic are required. The property has been percolated for a house over 3,500 square feet (highest Anne Arundel County perc. test). Electricity, telephone and cable television are in surrounding properties.

SITE PLAT

TAX MAP

ZONING:

R2, residential. The property cannot be subdivided.

FLOOD MAP:

FEMA Flood Map Panel 2400080021C - Zone C, beyond the 100-year flood plain.

TAXES:

2005 real estate taxes - $1,125.40

TITLE:

In fee simple. The property will be sold free and clear of liens.

TERMS OF SALE:

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 by 12 noon on Tuesday, November 1, 2005, at the Auctioneer's office. Balance to be paid in cash within 45 days. If payment of the 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. The purchaser waives and releases the Sellers, 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. Dimensions, square footage and acreage contained herein are more or less. Purchaser assumes the risk of loss from the date of sale forward. 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 and transfer taxes to be paid by the purchaser. Time is of the essence. A 5% buyers premium shall be added to the final bid price.

BROKER
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