Weinkam & Weinkam, P.A.
1002 Frederick Road
Catonsville, Maryland 21228

ESTATE AUCTION

UNION SQUARE

STOREFRONT AND
APARTMENT BUILDING

Zoned B-3-2
(Former Tavern)


ADJACENT LOT

& Remaining Furnishings

VIEW FROM CORNER      FRONT VIEW (PAYSON ST.)

Sale On Premises
101-103 S. PAYSON STREET
a/k/a 1943 W. Lombard St.
BALTIMORE, MD 21223

WEDNESDAY, JANUARY 11, 2006
AT 11:00 A.M.


       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.

GENERAL INFORMATION

LOCATION:

Situated in the Union Square neighborhood of west Baltimore. Major improvements are underway in the area, known as the Baltimore West Side development.

For additional information on Union Square, visit:
http://www.livebaltimore.com/nb/list/usquare/

LOCATION MAP

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

SITE:

101 S. Payson Street: 16' x 57'4"
103 S. Payson Street.: 13'10" x 57'4"

BLOCK PLAT

ZONING:

B-3-2, commercial

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

IMPROVEMENT
DESCRIPTION:

101 S. Payson St. - Brick three story corner building arranged as follows: bar area, 2 rest rooms and storage room, on the first floor; knotty pine paneled apartment on the upper floors with living room, dining room, kitchen, bedroom and bathroom, on the second floor and two rooms on the third floor; basement

103 S. Payson St. - unimproved lot

Note: Both properties are being sold as an entirety only.

ANNUAL REAL
ESTATE TAXES:

101 S. Payson Street: $878.40
103 S. Payson Street: $24.40

TITLE:

101 S. Payson St.: $28.00 ground rent; sold free and clear of all liens
103 S. Payson St.: $22.00 ground rent; sold free and clear of all liens

INSPECTION:

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

FURNISHINGS:

Assorted mahogany bedroom and dining room furniture, bar fixtures and equipment, knick knacks, lamps, etc. Note: All of the personal property is being sold as an entirety only. Cash or certified funds in full at the time of sale and immediate removal required.


TERMS OF SALE

       Real Estate - Deposit payable by certified or cashier's check of $7,500 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 rents 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, Personal Representative, 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. 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!