PUBLIC AUCTION

 LAUREL 
Residential, 3 Lot
DEVELOPMENT SITE




Sale On Premises
3507 OAK ROAD
Anne Arundel Co., MD 20724

TUESDAY, OCTOBER 25, 2005
AT 11:00 A.M.


       NOTE: The information contained herein has been obtained from sources deemed reliable and believed to be accurate. However, no express or implied warranty is made as to the accuracy of these representations. Prospective purchasers are encouraged to consult with the appropriate government authorities regarding the permitted uses of the property and perform their own due diligence in advance of the auction. All dimensions and acreage contained herein are more or less.

GENERAL INFORMATION

LOCATION:

Convenient location, just 1.5 miles west of I-295, near the Laurel Race Track. Although the site is in Anne Arundel County, it is situated less than one mile east of Howard County and one mile north of Prince Georges County. Ample shopping is within minutes along MD-198 (Laurel Fort Meade Road).

For additional information about the town of Laurel, visit:
http://www.laurel.md.us/

LOCATION MAP

SITE:

Three contiguous lots known as Lots 14-C, 14-B and 15-C, Baton Chapel, comprising a total of 0.74 acre more or less. The home site is adjacent to a newly constructed home (2004) at 3515 Oak Road (Lot 17B) and two doors away from a new home under construction at 3517 Oak Road (Lot 17C).

Public water and sewer are at the site.

LOCATION SURVEY

Adjacent Properties:

3515 Oak Road     3517 Oak Road

ZONING:

R-5, residential

For Anne Arundel County information on Planning and Zoning, visit:
http://www.aacounty.org/planzone

ANNUAL REAL
ESTATE TAXES:


$365

TITLE:

In fee simple; sold free and clear of all liens

DIRECTIONS:

From I-295 exit on MD-198 west (Laurel Fort Meade Road). Travel 0.7 mile to Whiskey Bottom Rd., turn right. Go 0.3 mile to Spring Rd., turn right. Go 200' to Oak Rd., turn right and follow to the end.

For directions from your location, visit:
http://www.mapquest.com/directions/main.adp


TERMS OF SALE

       Deposit payable by certified or cashier's check of $5,000 for each lot or $15,000 as an entirety, will be required of the purchaser at time and place of sale. The deposit is to be increased to 10% of the purchase price within 24 hours at the office of the Auctioneers. Balance to be paid in cash within 45 days. If payment of the balance does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting 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. 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, without express or implied warranty as to the nature and description of the improvements as contained herein; and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes risk of loss from the date of sale forward. 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 Auctioneer. TIME IS OF THE ESSENCE. NO BUYERS PREMIUM!