"Historic Frederick" Warehouse Building and Adjoining Lot

14479_bentz10_front2.jpg

Listing Details

Sold Price
$193,000
Auction Date
Auction Time
11:00 AM
Address
10 S. Bentz Street, Frederick County, MD, 21701
County
Frederick County
Neighborhood
Frederick
Scroll down for Complete Details, including: property description and Terms of Sale.

Stephen M. Goldberg, Solicitor
Tydings & Rosenberg, LLP
100 E. Pratt Street - 26th Floor
Baltimore, MD 21202

SUBSTITUTE TRUSTEES' AUCTION
                                              
  HISTORIC FREDERICK
COMMERCIAL PROPERTIES
To Be Offered Individually & In Groups

Sales On Respective Premises
THURSDAY, MARCH 3, 2011
At the Following Times


        Under and by virtue of the power of sale contained in certain Indemnity Deeds of Trust from Agilusfor, Inc., f/k/a Phoenix, Inc., to the Trustees named therein, dated January 24, 2003 and recorded among the Land Records of Frederick County in Book 3510, page 0242 (First Deed of Trust) and dated June 28, 2007 and recorded among the aforesaid Land Records in Book 6692, Page 0403 (Second Deed of Trust), the holder of the indebtedness secured thereby having appointed the undersigned to act as Substitute Trustees, in place and stead of the aforementioned Trustees, by instruments 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, on the premises, the following:


        All those fee simple lots of ground and the improvements thereon, situate and lying in Frederick County, State of Maryland and being more fully described in the above-referenced Deed of Trust, comprising the following properties. Prospective purchasers are encouraged to perform their own due diligence with respect to the zoning and permitted used uses of the properties. Site and improvement descriptions stated below are for informational purposes only and are made without express or implied warranty. Dimensions, square footage and acreage mentioned herein is approximate and more or less.

At 11:00 A.M.
10 S. BENTZ STREET
South of W. Patrick Street
Frederick County, MD 21701

 
        The property is comprised of two contiguous parcels, consisting of a 50' x 70' masonry warehouse building, containing approximately 3,500 square feet, situated on a 9,963 square foot lot and an adjoining unimproved lot comprising 1,838 square feet. According to public tax records, the property is zoned DB, Downtown Commercial. Deposit $10,000.

        LOCATION SURVEY (pdf)

Photos of auction property
PHOTO #1    PHOTO #2    TAX MAP

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TERMS OF SALE

        Deposit as stated above, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's Office. No deposit shall be required from the holder of the indebtedness or the beneficiary under the Indemnity Deeds of Trust (including their affiliates) if the purchaser at the sale. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Frederick County at the offices of Tydings & Rosenberg, LLP. If payment of the balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. Interest to be charged on the unpaid purchase money, at the rate of 10% per annum, from date of sale to date of settlement. If settlement is delayed for any reason, there will be no abatement of interest. All adjustments as of date of sale. 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 any environmental condition or matter, if any, whether latent or otherwise, and subject to any easements, agreements, restrictions or covenants of record affecting same, if any, and any governmental requirements affecting same. Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of sale forward. The purchaser waives and releases the Substitute Trustees, the holder of the indebtedness, 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 Substitute Trustees are 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 Substitute Trustees, the holder of the indebtedness or Auctioneers. Recordation costs, transfer taxes and all other costs incident to settlement, including a $500 document review fee by the Seller's attorney, to be paid by the purchaser. Time shall be of the essence for the purchaser.


No Buyers Premium


Stephen B. Bradley and Stephen M. Goldberg,
Substitute Trustees