3 Lots - 16.32 Acre Residential, Potential Development Parcels

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Listing Details

Sold Price
$1,846,000
Auction Date
Auction Time
12:01 PM
Address
Lot 12 Bengies Road, Lots 16 and 18 Hillpine Road, Baltimore County,, Maryland, 21220
County
Baltimore County,
Scroll down for Complete Details, including: property description and Terms of Sale.

 David S. Musgrave
Matthew T. Vocci
Ober, Kaler, Grimes & Shriver
120 E. Baltimore Street, Ninth Floor
Baltimore, Maryland  21202-1643


SUBSTITUTE TRUSTEES' SALE

VALUABLE FEE SIMPLE PROPERTY
4 - RESIDENTIAL, POTENTIAL
DEVELOPMENT PARCELS

Located in Southeastern Baltimore County

KNOWN AS
8800 Philadelphia Road, LOT 12 Bengies Road and
LOTS 16 and 18 Hillpine Road

BALTIMORE COUNTY, MARYLAND

SALES WILL BE HELD ON THE PREMISES
MAY 20, 2008
At the Following Times

For directions from your location, visit: maps.live.com


        Under and by virtue of the power of sale contained in an Indemnity Deed of Trust and Security Agreement and Fixture Filing dated March 30, 2005 and recorded among the Land Records of Baltimore County, Maryland at Liber 21642, folio 097, as modified by a First Amendment to Indemnity Deed of Trust and Security Agreement dated July 15, 2005 and recorded among the aforesaid Land Records at Liber 22649, folio 153, and a Second Amendment to Indemnity Deed of Trust and Security Agreement dated March 30, 2007 and recorded among the aforesaid Land Records at Liber 25569, Page 501 (referred to collectively as the "Deed of Trust"), the undersigned Substitute Trustees, at the request of the beneficiary of the Deed of Trust (the "Noteholder"), will offer for sale at public auction the property (the "Property") hereafter described as follows:

 At 12:01 P.M.
3 LOTS  16.32 ACRES±
ZONED DR2

LOT 12 Bengies Road, LOTS 16 and 18 Hillpine Road
Sale to Held at End of Hillpine Road
Baltimore, Maryland 21220

Photos of auction property
AERIAL PHOTO     TAX MAP

        BEING KNOWN AND DESIGNATED as Lot No. 12 as laid out and shown on the Plat of the Middle River Garden Farms, which plat accompanied the deed from the Garden Farms Company to Henry D. Volz and recorded on March 16, 1917, among the Plat Records of Baltimore County in Plat Book W.P.C. No. 6, folio 96.

        BEING the same property which, by Deed dated December 1, 2004 and recorded among the Land Records of Baltimore County, Maryland, in Liber SM No. 21081, folio 237, was granted and conveyed by KPB Construction, LLC unto Kapman Enterprises, LLC.  

        BEING KNOWN AND DESIGNATED as Lot Nos. 16 and 18 as laid out and shown on the Plat of the Middle River Garden Farms, which plat accompanied the deed from the Gardens Farms Company to Henry D. Volz and recorded on March 16, 1917, among the Plat Records of Baltimore County in Plat Book W.P.C. No. 6, folio 96. 

        BEING the same property which, by Deed dated December 1, 2004 and recorded among the Land Records of Baltimore County, Maryland, in Liber SM No. 21081, folio 242, was granted and conveyed by KPB Construction, LLC unto Kapman Enterprises, LLC.

        The lots are also known as Lots 12, 16 and 18, Parcel 558 on Baltimore County Tax Map 90, which are located in Grid 1 of Tax Map 91.

        Lot 12 - comprises 6.5 acres, fronting on the southwest side of Bengies Road.

        Lot 16 - comprises 4.9 acres, fronting on the south side of Hillpine Road.

        Lot 18 - comprises 4.92 acres, fronting on the south side of Hillpine Road.

        The lots are wooded. Public water and sanitary sewer are in the area, but are not at the property. The three lots are not contiguous.

        A Preliminary Sketch Plan (concept plan), dated October 2, 2007 and posted on the Auctioneer's web site, projects 13 single-family home sites on Lot 12, 8 single-family home sites on Lot 16 and 5 single-family home sites on Lot 18.  The concept plan is provided for illustrative purposes only without express or implied representation.

        For zoning information, visit Baltimore County's Web Site  

        PLAT OF "MIDDLE RIVER GARDEN FARMS" (pdf)

        CONCEPT SKETCH (pdf)

        PRELIMINARY ENVIRONMENTAL SITE ASSESSMENT (pdf)

        Manner of Sale - Each lot will be offered individually and the bid reserved.  Then, all three lots will be offered as an entirety.  The sale will be made in the manner producing the greater amount.

        Deposit - $10,000 on each lot or $30,000 as an entirety.

 

TERMS OF SALE

 NOTES


        All information contained herein as to the adjoining properties and the nature, description use, suitability or development of the Property has been obtained from sources deemed reliable and believed to be accurate.  The Substitute Trustees, the Noteholder and their respective agents make no representations or warranties with respect to such information, 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.


TERMS OF SALE

 
    A deposit in the form of a cashier's or certified check will be required from the purchaser(s) at the time and place of sale.  The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's Office.

        The deposit(s) will not earn interest in the hands of the Substitute Trustees.  The Noteholder, if a bidder, shall not be required to post a deposit.  Immediately after the sale, the successful bidder(s) shall execute and deliver a contract of sale with the Substitute Trustees, copies of which shall be available for inspection immediately before the sale.  The balance of the purchase price shall be paid by a cashier's or certified check, or such other form as the Substitute Trustees may determine acceptable, in their sole discretion, at settlement, which must occur within twenty (20) days following final ratification of the sale by the Circuit Court for Baltimore County, Maryland, unless such period is extended by the Substitute Trustees, time being of the essence.  If payment of the balance of the purchase price does not take place within such period of time aforesaid, in addition to any other legal or equitable remedies available to them, the Substitute Trustees may declare the entire deposit(s) forfeited and resell the Property at the risk and cost of the defaulting purchaser(s).  In such event, the defaulting purchaser(s) 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 the Substitute Trustees.  If the Property is purchased by someone other than the Noteholder, interest shall be paid on the unpaid purchase price at the rate of twelve percent (12%) from date of sale to the date of settlement, or such date that funds are received by the Substitute Trustees.  Taxes, water bills, and all other municipal liens and charges and all other public charges and assessments payable on an annual basis, if any, shall be adjusted to date of sale and assumed thereafter by the purchaser(s).  The purchaser(s) shall pay all settlement costs, including title examination charges, title insurance premiums, county and state recordation and transfer taxes and recording costs.  The purchaser(s) shall pay all costs incidental to the conveyance of the Property.   The purchaser(s) shall be responsible for obtaining physical possession of the Property.  Additional terms may be announced at the time of sale.  If the Noteholder is the purchaser of the Property at the sale, the amount bid at the sale by the Noteholder shall be a credit against the indebtedness secured by the Deed of Trust.

        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, easements, rights-of-way, covenants, conditions and restrictions, and environmental and other conditions, and all federal, state, and local laws, ordinances, and regulations affecting the Property.

        The Substitute Trustees 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 Substitute Trustees nor any other party make any warranty or representation, either express 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.  The purchaser(s) shall assume the risk of loss for the Property immediately after the sale.

        If the Substitute Trustees 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(s) at law or in equity shall be limited to the refund of the aforementioned deposit.  Upon refund of the deposit to the purchaser(s), the sale shall be void and of no effect, and the purchaser(s) shall have no further claims against the Substitute Trustees.  The conveyance of the Property by the Substitute Trustees to the purchaser(s) at settlement shall be by deed without covenant or warranty of any kind whatsoever.


David S. Musgrave
Matthew T. Vocci
Substitute Trustees