DLA Piper Rudnick Gray Cary US LLP
6225 Smith Avenue
Baltimore, Maryland 21209-3600

TRUSTEES' SALE

Beltsville, MD

VALUABLE, FEE SIMPLE, COMMERCIAL PROPERTY, ZONED I-2

One and Two Story, 18,192± Sq. Ft.
BRICK AND METAL BUILDING

With Office and Warehouse Improvements

CONTAINING 4.78 ACRES OF LAND, MORE OR LESS


Exterior Photos:  PHOTO #1     PHOTO #2     PHOTO #3     PHOTO #4     PHOTO #5

Known As
6711 INDUSTRIAL DRIVE
Beltsville, Maryland 20705

Sale On Premises
FRIDAY, JANUARY 6, 2006
AT 11:00 A.M.

Inspection: 10:00 A.M. on the day of the sale

       Pursuant to Decree for Sale of Mortgaged Property of the Circuit Court for Prince George's County entered on November 29, 2005, in connection with that certain Mortgage dated February 1, 1993 from Del Commercial Properties, Inc. to Royal Bank of Canada and Del Investments Netherlands, B.V., which was recorded among the Land Records of Prince George's County in Liber 8759, folio 986, default having occurred thereunder, Edward J. Levin and Dodi Samuel were appointed Trustees for purposes of sale, and such Trustees will offer for sale at Public Auction all that fee simple property ("Property") described as follows:

       ALL that piece or parcel of land situate, lying and being in the First Election District of Prince George's County, State of Maryland and described as follows to wit:

Parcel "I" in the subdivision known as "NORTH BELTSVILLE INDUSTRIAL PARK," as per plat thereof recorded in Plat Book NLP No. 129, at Plat 72, among the land records of Prince George's County, Maryland.

PRINCE GEORGE'S COUNTY TAX MAP

LOCATION MAP & DIRECTIONS

For a description of Beltsville, MD, visit:
http://www.epodunk.com/cgi-bin/genInfo.php?locIndex=2454


IMPROVEMENTS

       The Property is improved by a block and steel one story industrial building with adjacent two story brick office building. Office building has flat built-up roof, aluminum windows, roof mounted central air conditioning, and a separate entrance. Industrial building has 21'7" ceiling heights to steel beams, pitched roof, 3 drive-in doors and mezzanine. The Property is also improved by a 6,000 square foot welding shop that is opened on four sides with exposed concrete floor, metal roof with steel beams and metal trusses. The Property has an asphalt paved parking lot. There is a chain link fenced asphalt paved yard with exterior lighting.

Date of Construction:

1987

Gross Leasible Area: 18,192 square feet
Warehouse Area:
Office Build-Out:
12,000
  6,192
18,192
 square feet (66%)
 square feet (34%)
 square feet
Other Features:

Fire sprinkler system
Perimeter fencing is 6' chain link

2005 Real Estate Taxes:

$25,057.00

Occupancy:

The property is currently occupied by Aluma Systems, shoring, formwork and scaffolding specialists. Their tenancy ends 90 days following the auction. Aluma Systems must renegotiate with the auction purchaser or vacate the premises.


Interior Photos:  PHOTO #1      PHOTO #2


NOTES

       1. All information contained herein as to the nature and description or use of the Property, dimensions, quantifications, and descriptions have been obtained from sources deemed reliable and believed to be accurate. The Trustees, the Secured Party and their respective agents make no representations or warranties with respect to such information, however, and each bidder is responsible for independently determining the validity and accuracy of any information provided herein or any other information or materials upon which each bidder relies in submitting a bid.

       2. The foreclosure sale will terminate the lease with the current occupant of the Property, but the current occupant shall be entitled to remain in possession for 90 days after the sale upon payment of $19,000 rent per month. The current occupant has expressed an interest in entering into a new lease with the persons or entities purchasing the Property (whether one or more than one, the "Purchaser"). The Purchaser shall be responsible for obtaining physical possession of the Property.

       3. The Secured Party will pay any licensed Maryland real estate broker, in cooperation with A. J. Billig & Company (the "Auctioneer"), one percent (1%) of the gross selling price of the Property, if purchased by its registered client. Participating brokers (either directly or through a duly licensed and authorized sales agent) must make the initial contact with the Auctioneer on behalf of their clients and enroll their potential Purchasers with the Auctioneer prior to 5:00 p.m., on January 4, 2006, and must attend the auction. Proof of licensure will be required. The cooperation fee will be paid by the Secured Party upon settlement by the Purchaser. No broker will be recognized as representing a principal who has been in direct contact with the Auctioneer, nor will any commission be paid by the Secured Party to any broker who is a partner, member, stockholder or principal of the Purchaser. Click here for the Broker Registration Form.


TERMS OF SALE

       A deposit of One Hundred Thousand Dollars ($100,000.00) payable by cashier's or certified check will be required from the Purchaser at the time and place of sale. If the sale price exceeds One million Dollars ($1,000,000.00), the Purchaser shall be required to increase the deposit in the form of a cashier's or certified check on the following day so that the deposit totals ten percent (10%) of the sale price. The Secured Party or its affiliates, if a bidder, shall not be required to post a deposit. The balance of the purchase price to be paid by cashier's or certified check, or such other form as the Trustees, Secured Party, successors and assigns (collectively, the "Selling Parties") may determine acceptable, in their sole discretion, at settlement, which must occur within twenty (20) days following final ratification of sale by the Circuit Court for Prince George's County, Maryland, unless said period is extended by the Selling Parties, time being of the essence. If payment of the additional deposit or the balance of the purchase price does not take place when required hereunder, in addition to any other legal or equitable remedies available to them, the Selling Parties may declare the entire deposit forfeited and resell the Property at the risk and cost of the defaulting Purchaser. In such event, the defaulting Purchaser shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, attorney's fees and all other charges incurred by Selling Parties. If the Property is purchased by someone other than the Secured Party or its affiliate, interest shall be paid on the unpaid purchase price at the rate of 12.860% per annum from date of sale to the date of settlement, or such date that funds are received by the Trustees. Taxes, water rents and all other municipal liens and charges and all other public charges and assessments payable on an annual basis, if any, to be adjusted to date of sale and assumed thereafter by the Purchaser. All settlement costs, including county and state recordation and transfer taxes and recording costs shall be paid by the Purchaser. Additional terms may be announced at the time of sale. If the Secured Party or its affiliate, is the Purchaser of the Property at the sale, the amount bid at the sale by the Secured Party or its affiliate shall be a credit against the indebtedness secured by the Mortgage.

       The Property will be sold and conveyed subject to all matters known and unknown, in "AS IS, WHERE IS" condition, without representation or warranty, subject to all matters of record, including without limitation, applicable easements, rights-of-way, covenants, conditions and restrictions, and environmental and other conditions, and all applicable federal, state, and local laws, ordinances, and regulations affecting the Property.

       The Selling Parties reserve: (1) the right to accept or reject any or all bids, (2) the right to modify or waive the requirements for bidders' deposits and terms of sale and/or settlement; (3) the right to withdraw the Property from the sale prior to acceptance of the final bid(s); and (4) the right to cancel or postpone the sale.

       Neither the Selling Parties nor any other party makes any warranty or representation, either expressed or implied, of any kind or nature regarding the Property, including, without limitation, the description, use, physical condition, subdivision, zoning, environmental condition, compliance with applicable laws, ordinances, or regulations, or fitness for a particular purpose of the Property. The Purchaser shall assume the risk of loss for the Property immediately after the sale.

       If the Selling Parties are unable to convey the Property as described above, by reason of any defect in the title or otherwise, the sole remedy of the Purchaser at law or in equity shall be limited to the refund of the aforementioned deposit. Upon refund of the deposit to the Purchaser, the sale shall be void and of no effect, and the Purchaser shall have no further claims against the Selling Parties. The conveyance of the Property by the Selling Parties to the Purchaser at settlement shall be by deed without covenant or warranty of any kind whatsoever.

       At the time of sale, the Purchaser shall be required to sign a contract of sale (the "Contract of Sale") which shall include, by reference, all the terms and conditions contained herein, specifically including, but not limited to, the following provisions: "Purchaser agrees and represents that Purchaser is purchasing the Property subject to all matters known and unknown, in "AS IS, WHERE IS" condition. In executing and delivering the Contract of Sale, the Purchaser recognizes that Purchaser has not relied upon nor been induced by any statements or representations of any person, including the Trustees, and the Secured Party or their respective agents, employees, successors and assigns (collectively, the "Released Parties"), in respect of the condition of the Property, including the environmental condition of the Property. Purchaser has not relied on anything in any advertisement for the sale of the Property, but rather has relied solely on such investigations, examinations or inspections of the Property as Purchaser has made. Purchaser waives and releases the Released Parties from any and all claims the Purchaser or its successors and assigns may have now or in the future relating to the condition of the Property. Purchaser acknowledges and agrees that this provision was a negotiated part of the Contract of Sale and serves as an essential component of consideration for the same. The parties specifically acknowledge and agree that this clause bars all claims by Purchaser against the Released Parties, arising from the condition of or releases from the Property pursuant to the Comprehensive Environmental Response, Compensations and Liability Act of 1980, as amended, and all other actions pursuant to federal, state or local laws, ordinances or regulations for any environmental condition of or releases from the Property."

       The form of Contract of Sale, which contains additional disclaimers, waivers, acknowledgments, and releases regarding environmental and other conditions, is available at the office of the auctioneer and will be available at the place of sale prior to the sale.

       Environmental Report: Please sign and complete the Consent & Waiver Form. Return the form by fax to A.J. Billig & Co. at: 410-385-1841. The report is available by email or fax (30 pages).

       Further information on the Property may be obtained at the office of the auctioneer.

Edward J. Levin
Dodi P. Samuel
Trustees


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