Wendy Smith Barlow, Attorney
711 St. Paul Street
Baltimore, MD 21202

ESTATE AUCTION

GLEN BURNIE
DEVELOPMENT SITE

4.62± AcresZoned R-5


Photos:     FRONT VIEW      STREET- NORTH VIEW      STREET- SOUTH VIEW

Sale On Premises
7620 SPENCER ROAD
Off Marley Neck Rd.
ANNE ARUNDEL CO., MD 21060

WEDNESDAY, SEPTEMBER 7, 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:

Great location just minutes from MD Route 10 and MD Route 100, just west of Pasadena. Osprey Landing, a new 55 single family housing development is underway one block away on Marley Neck Road. Downtown Baltimore City is situated less than 20 minutes to the northwest and Annapolis within 20 minutes to the south. Ample shopping is within minutes along Governor Ritchie Highway and Mountain Road. Marley Elementary School and Marley Middle School are less than a mile from the site. This property presents a great development opportunity.

For additional information about Glen Burnie (based on 2000 Census Information), visit:
http://www.epodunk.com/cgi-bin/genInfo.php?locIndex=2593

LOCATION MAP

DIRECTIONS:

From MD Route 10, take the Baltimore-Annapolis Boulevard (MD-648) exit and turn east on Baltimore-Annapolis Boulevard traveling 0.5 mile to Marley Neck Road. Turn left on Marley Neck Road and continue 0.5 mile to Spencer Rd. and turn right to the property on the right.

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

SITE:

4.62 acres, more or less (according to Maryland Tax Records)
Public water and sewer are in the property

TAX MAP

ZONING:

Zoned R5, residential

Visit Anne Arundel County Code Web information for zoning information (Click "Article 27 - Zoning"):
http://www.aacounty.org/CountyCode/index.cfm

IMPROVEMENT
DESCRIPTION:

Vinyl sided bungalow contains: living room/bedroom, modern kitchen with oak cabinetry and full bathroom; electric baseboard heat; screened front porch

REAL ESTATE
TAXES:


$2,208

TITLE:

In fee simple; sold free and clear of all liens.

INSPECTION:

10:00 a.m. on the day of sale

TERMS OF SALE

       Deposit payable by certified or cashier's check of $25,000 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 Estate, The Attorney, 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 Estate 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. 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!