6.897 Acre Residential, Potential Development Parcel

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Listing Details

Sold Price
$270,000
Auction Date
Auction Time
11:00 AM
Address
8800 Philadelphia Road, Baltimore County, Maryland, 21237
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 11:00 A.M.
6.897 ACRES±  ZONED DR 3.5
Known As
8800 Philadelphia Road
Just East of Rossville Boulevard
Baltimore, Maryland 21237

Photos of auction property
AERIAL PHOTO     TAX MAP

        BEING KNOWN AND DESIGNATED as Lots Nos. 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, and 20, the Drainage and Utility Reservations for flood plain containing 1.876 acres, Storm Water Management and Drainage Reservation area containing 0.255 acres, the bed of Ridge Park Court and Md. Route #7, all as shown on the Plat entitled "Ridge Park", which plat is recorded among the Land Records of Baltimore County in Plat Book EHK, Jr. No. 44, folio 79.  Containing 6.897 acres, more or less. 

        THE IMPROVEMENTS THEREON being known as 8800 Philadelphia Road, Baltimore, MD 21237.

        BEING the same property described in a Deed dated December 1, 2004 and recorded among the Land Records of Baltimore County, Maryland, in Liber SM No. 21081, folio 247 by KPB Construction, LLC unto Kapman Enterprises, LLC.

        The site is also known as Parcel 280, Grid 1 on Baltimore County Tax Map 90.  The property is situated along the north side of Philadelphia Road, east of Rossville Boulevard and west of Lennings Lane/Mayflower Road.  The site is heavily wooded and adjoins existing residential land uses.  The property was originally configured as the twenty lot "Ridge Park" subdivision and recorded, as noted above, on May 14, 1979.  No infrastructure or any other work was performed within Ridge Park.  A minor subdivision plan to create three residential lots on the site, dated July 8, 2005, was submitted to Baltimore County authorities for review.  Both plats may be viewed on the Auctioneer's web site.  The property may also be suitable for an assisted living facility or other use, as may be permitted by special exception under the Baltimore County Zoning Code.  Public water and sewer are in the adjoining properties.

        For zoning information, visit Baltimore County's Web Site

        MINOR SUBDIVISION PLAN (pdf)

        "RIDGE PARK" SUBDIVISION PLAN - EXPIRED (pdf)

        SUBDIVISION MEMO (pdf)

        Deposit - $25,000.

 

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