PUBLIC AUCTION

2 - RESIDENTIAL
BUILDING LOTS
Pasadena & Woodlawn

THURSDAY, JUNE 9, 2005

AT 11:00 A.M.
458 RIVERSIDE DRIVE
"Upper Magothy Beach - Pasadena"
ANNE ARUNDEL COUNTY, MD 21122



LOCATION:

Great location only one block from Cockey Creek and the Magothy River. From MD Route 100, go south on Magothy Beach Road 1.6 miles to Center Street. Turn right on Center Street and follow to the end. Turn right on Riverside Drive to the property on the left. For directions from your location, visit:
http://www.mapquest.com/directions/main.adp

LOCATION MAP

SITE:

Front 50.25', Rear 50.0', Depths of 125.0' & 131.19'
Well and septic system

PROPERTY SURVEY

ZONING:

R-2, residential

IMPROVEMENT
DESCRIPTION:

Fire damaged bungalow in poor condition. Note: The home does not appear to be salvageable.

ANNUAL REAL
ESTATE TAXES:


$1,837

TITLE:

In fee simple; sold free and clear of all liens



AT 12:15 P.M.
6103 SUNNY LANE
"The Meadows - Woodlawn"
BALTIMORE CO., MD 21207



LOCATION:

Convenient location only minutes from the Social Security Complex. From 6500 Security Boulevard, go north on Gwynn Oak Avenue one block to Dogwood Road. Turn right on Dogwood Road, travel several blocks to Little Creek Drive and turn right. Travel one block to Sunny Lane and turn right to the property on the left. For directions from your location, visit: http://www.mapquest.com/directions/main.adp

LOCATION MAP

SITE:

Front 60', Rear 78.67', Depths of 94.33' & 88.29'
Public water and public sewer

PROPERTY SURVEY

ZONING:

D.R. 5.5, residential

IMPROVEMENT
DESCRIPTION:


Improved by a house foundation.

ANNUAL REAL
ESTATE TAXES:


$739

TITLE:

Subject to an annual $108 ground rent; sold free and clear of all liens



TERMS OF SALE

       Deposits payable by certified or cashier's check of $5,000 on each property 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, ground rent (if any) 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 properties 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 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 properties, including but not limited to the environmental condition thereof. If the Sellers 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 Seller or Auctioneer. The purchaser agrees to waive the right of inspection for lead paint as provided under current Federal and State Law. Cost of all recordation and transfer taxes to be paid by the purchaser. TIME IS OF THE ESSENCE. No buyers premium!