Cardin & Gitomer, Attorneys
Baltimore, MD 21202

ATTORNEY'S AUCTION

Downtown Baltimore
OFFICE BUILDING
3,380± Sq. Ft.Zoned B-4-2



Sale On Premises
10 E. MULBERRY STREET
Between 400 blocks of Charles & St. Paul Streets
Baltimore, MD 21202

WEDNESDAY, NOVEMBER 2, 2005
AT 11:00 A.M.


LOCATION:

10 E. Mulberry Street is two blocks north of the Baltimore City Courthouse and within walking distance of City offices, the Federal Courthouse and Social Security Administration. The neighborhood is known as Cathedral Hill in the National Registry of Historic Places, potentially providing an opportunity for historic tax credits. The property is east of the 400 block of north Charles Street and west of the 400 block of St. Paul Place. Mulberry Street is eastbound U.S. Route 40 and becomes the Orleans Street Viaduct one block east of the site. Surrounding properties consist of office and apartment buildings, storefronts and parking garages. On and off-street parking is abundant.

LOCATION MAP

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IMPROVEMENTS:

Three story brick end-of-group office building, containing approximately 3,380 square feet of gross building area (according to public tax records). Interior finishes are carpeting and drywall.

First floor has foyer, reception area, private office with fireplace, rest room, kitchen/copier room and library/conference room with outside exit.

Second floor - 3 private offices and rest room

Third floor - 3 private offices; pull-down attic

Basement - file storage room and full bathroom

HVAC - Gas forced hot air heat and central air conditioning, 2 zones

SITE:

23'8" x 97', more or less

BLOCK PLAT

ZONING:

The property is zoned B-4-2, commerical.

For additional zoning information, see the Baltimore City Zoning Code: http://www.ci.baltimore.md.us/government/legislative/zoning/

TAX INFORMATION:

Baltimore City Lot 27, Block 566
Approximate 2005 Real Estate Taxes - $4,148

TITLE:

In fee simple. The property is sold free and clear of all liens.

RENT:

The property is currently occupied by an affiliate of the property owners at a triple net monthly rental of $3,750. The tenancy is month-to-month and there is no lease.

TERMS OF SALE:

A $20,000 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. Balance to be paid in cash within 90 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. All adjustments, including taxes, rents, 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 settlement 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. 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. The property owners reserve the right to bid on their own behalf. A 5% buyers premium shall be added to the final bid price. Time is of the essence.

BROKER
PARTICIPATION:


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