Clay M. Barnes, Attorney
Barnes and Raine, P.A.
405 W. Pennsylvania Avenue
Towson, Maryland 21204

ESTATE AUCTION
Redevelopment Opportunity!

PENN STATION

ONE STORY GARAGE
and
THREE STORY
GARAGE/WAREHOUSE

Sale On Premises
101-103 & 124-132 E. TRENTON ST.
Off 1819 St. Paul Street and 1818 N. Calvert Street
BALTIMORE, MD 21202

WEDNESDAY, JULY 13, 2005
AT 11:00 A.M.


(Inspection: 10:00 a.m. on the day of the auction)

       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 properties and perform their own due diligence in advance of the auction. All dimensions contained herein are more or less.

GENERAL INFORMATION

LOCATION:

The buildings are situated in the rapidly developing renewal district of the Penn Station area, just south of Charles Village. Public transportation is within walking distance of the property. The area is undergoing substantial renovation and a total renaissance.

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

LOCATION MAP


101-103 E. TRENTON STREET




SITE:

30' by 68', more or less

Serviced by public water, public sewer

BLOCK PLAT

ZONING:

OR-3, office/residential - non-conforming use for auto garage

IMPROVEMENT
DESCRIPTION:

Free standing three story brick building (comprising 6,120 sq. ft.) used as a service garage on the 1st floor and a boxing gym above. The entry level has a drive-in bay door (12' wide x 8' high). There is a separate entrance to the upper floors. The first floor is rented for $400 per month and the upper floors for $300 per month, all on a month to month basis. The building could easily be converted into an office or residential use.

ANNUAL REAL
ESTATE TAXES:


$1,202.94

TITLE:

In fee simple; sold free and clear of all liens


124-132 E. TRENTON STREET




SITE:

72'6" by 60', more or less
Serviced by public water, public sewer

BLOCK PLAT

ZONING:

B-3-3, commercial

IMPROVEMENT
DESCRIPTION:

Free standing one story brick building (comprising 4,350 sq. ft.) used as a body shop, known as Milburn Auto Body Shop. The building features three drive-in bay doors (12' wide x 8' high and two that are 10' wide by 10' high). The east wing of the garage has a loft area. The building is rented for $600 per month, on amonth to month basis.

ANNUAL REAL
ESTATE TAXES:


$1,724.46

TITLE:

In fee simple; sold free and clear of all liens



TERMS OF SALE

      Deposit 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 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 the rights of the existing tenants and 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, Attorney for the Estate, 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. Cost of all recordation and transfer taxes to be paid by the purchaser. TIME IS OF THE ESSENCE. NO BUYERS PREMIUM!