Douglas L. Burgess and
Robert S. Glushakow, Solicitors
Nolan, Plumhoff & Williams, Chartered
502 Washington Avenue, Suite 700
Towson, Maryland 21204
Telephone 410-823-7800 x7857

One House At A Time, Receiver
3553 Chestnut Avenue, Suite 2N
Baltimore, MD 21211


SUBSTITUTE TRUSTEES'
& RECEIVER'S AUCTION
See Pre-Qualification Requirements As Stated Below

BOLTON HILL
National Historic District

Three Story Victorian
TOWNHOUSE MANSION

Formerly Containing 8 Apartments
- Renovation Required -

Photos of auction property
FRONT VIEW     STONE DETAIL
WINDOW DETAIL     LOCATION MAP

Sale On Premises
1808 EUTAW PLACE
Off 300 Laurens Street
Baltimore, Maryland 21217

THURSDAY, OCTOBER 25, 2007
AT 1:30 P.M.

For directions from your location, visit:
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       Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust from 1808 Eutaw Place, LLC to the Trustee(s) therein, dated August 28, 2006, and recorded among the Land Records of Baltimore City, Maryland, in Liber 8577, Page 747, the holder of the indebtedness secured thereby having appointed Robert S. Glushakow and Douglas L. Burgess to act as Substitute Trustees, in place and stead of the aforementioned Trustee(s), by instrument duly executed, acknowledged and recorded among the Land Records aforesaid, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Substitute Trustees will sell at Public Auction the herein described property, in conjunction with and pursuant to the Order Appointing a Receiver of the District Court of Maryland for Baltimore City, passed in the matter of Mayor and City Council of Baltimore acting by and through the Baltimore City Department of Housing and Community Development, Petitioner v. 1808 Eutaw Place, LLC, Case No. 11599-06, on the premises, the following:

       All that fee simple lot of ground and the improvements thereon, situate and lying in Baltimore, State of Maryland and being more fully described in the above-referenced Indemnity Deed of Trust; lot size 35' x 130', more or less.

       The improvements are believed to comprise a three story stone and brick Victorian-style townhouse mansion. According to public tax records, the home was constructed circa 1920 and contains 5,700 square feet of living area and 1,900 square feet of basement space. The home is vacant and needs rehabilitation. Baltimore City zoning officials state that the property is zoned R9, residential, formerly contained 8 apartments and is now vacant. A two-car frame garage is believed to be located in the rear of the building.

       FLOOR PLANS (pdf - 2.3MB)
       (Note: This file may take some time to download.)

       IMPORTANT - THE PROPERTY IS BEING SOLD SUBJECT TO A VACANT HOUSE NOTICE ("VHN") BY THE CITY OF BALTIMORE. THE PURCHASER SHALL BE REQUIRED TO REHABILITATE THE PROPERTY ACCORDING TO THE ORDER(S) UNDER THAT VHN.

       PROSPECTIVE PURCHASERS MUST PRE-QUALIFY TO BID AT LEAST FIVE BUSINESS DAYS PRIOR TO THE SCHEDULED AUCTION SALE. NO bidders who are not pre-qualified shall be allowed to participate in this auction; NO EXCEPTIONS.

Deadline: Thurs., Oct. 18, 2007
Mailed to:
One House At A Time, Inc.
3553 Chestnut Ave., Suite 2N
Baltimore, MD 21211
(Only original applications will be accepted; NO FAXED COPIES!)
APPLICATION FORM (pdf)
(Requires Acrobat Reader to view)
Click Logo to get Adobe Acrobat Reader

       NOTE: If you have pre-qualified for other One House At A Time, Inc. Receiver's Auctions, please call 410-467-1826 and state your intention to bid. You may not be required to complete another form.

       Due to the nature of the Receivership action and the Order of the District Court of Maryland for Baltimore City, Purchaser shall not assign this Contract without prior, written permission of the Receiver, which may be withheld in Receiver's sole and absolute discretion.

       The property, which is improved by a dwelling, will be sold in AS-IS, WHERE-IS condition and subject to conditions, restrictions, and agreements of record affecting the same, with no warranty of any kind, express or implied.


TERMS OF SALE

       A $25,000.00 deposit, payable by certified check or cashier's check will be required of the purchaser at time and place of sale. The deposit is to be increased to ten percent (10%) of the purchase price within twenty-four (24) hours at the Auctioneer's office. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following the later of the final ratification of the sale by the Circuit Court for Baltimore City and the District Court for Baltimore City. TIME IS OF THE ESSENCE FOR THE PURCHASER. If payment of the balance does not take place within the specified time, the deposit shall be forfeited, the property will be resold at the risk and expense of the defaulting purchaser, and the defaulting purchaser shall be required to pay a reasonable fee of not less than $750.00 as a payment for fees and costs associated with the procedures giving rise to the re-sale of the property. The Deed of Trust Noteholder shall be entitled to all excess proceeds under a resale of the property. Interest to be charged on the unpaid purchase money at the rate stated in the foreclosed Deed of Trust Note, from date of sale to date of settlement. All adjustments as of date of sale. Taxes and all other public charges and assessments for the current year, 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. All costs incident to the settlement shall be paid by the purchaser with all costs of documentary stamps, transfer taxes and recording charges to be paid by the purchaser. The Substitute Trustees, Receiver, Auctioneer and the Deed of Trust Noteholder shall pay no costs of any kind for closing the transaction. The property will be sold in "AS IS WHERE-IS" condition, without express or implied warranty as to the nature, condition and/or description of the improvements, the ability of the property to be further developed or subdivided, the existence or non-existence of lead paint or any existent or latent environmental condition affecting the property and the improvements. The sale shall be subject to any housing code violations, easements, agreements, tenancies, restrictions and/or covenants of record affecting same, if any. Conveyance shall be by Substitute Trustees' and/or Receiver's Deed without covenant or warranty, express or implied. The purchaser shall be responsible for complying with the registration of the property, if applicable. If settlement is delayed for any reason, there will be no abatement of interest. This Advertisement may be amended or supplemented by oral announcements during the conduct of the sale, and any such announcements shall constitute further terms or conditions upon which the above described property will be offered for sale. The highest bidder acknowledged by the Substitute Trustees and/or Receiver shall be the Purchaser, and in the event of any dispute among the bidders, the Substitute Trustees and/or Receiver shall have the absolute final discretion to determine the successful bidder or to resell the property. Purchaser shall be responsible for obtaining physical possession of the property, and the risk of loss shall be assumed by the purchaser from the date of sale. If the Substitute Trustees and/or Receiver are unable to convey good and marketable fee simple 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 Substitute Trustees, the Receiver the Deed of Trust Noteholder, the Solicitors or Auctioneer. The right to postpone, set over, or cancel the sale prior to the scheduled sale is reserved by the Substitute Trustees and/or Receiver. Any such postponement, setting over, or cancellation will be announced on the scheduled date of sale.

Robert S. Glushakow and Douglas L. Burgess,
Substitute Trustees

One House At A Time, Inc., Receiver

No Buyer's Premium