"Hagers Crossing" 16.52 Acre± Residential Development Property 158 Unit Multiplex Project

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Listing Details

Sold Price
$1,200,000
Auction Date
Auction Time
12:00 PM
Address
Hagers Crossing Drive, Washington County, MD, 21740
County
Washington County
Neighborhood
Hagerstown
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Douglas L. Burgess, Solicitor
Nolan, Plumhoff & Williams, Chartered
502 Washington Avenue - Suite 700
Towson, MD 21204

SUBSTITUTE TRUSTEES' AUCTION
                            
HAGERSTOWN

 

26 ACRE± RESIDENTIAL
DEVELOPMENT PROPERTY

"Hagers Crossing"

 

Comprising 2 Parcels:
158 Unit Multiplex Project &
Community Recreational Facility

 Sale On Premises
HAGERS CROSSING DRIVE
AT BARTOW DRIVE

From US-40 follow Garland Groh Boulevard
North (becomes Bartow Drive) to Site
Washington County, MD 21740

WEDNESDAY, MAY 5, 2010
AT 12:00 NOON

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


        Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust and Security Agreement from Rachuba Town & Country, LLC to the Trustees therein, dated April 26, 2006, and recorded among the Land Records of Washington County, Maryland, in Liber 2999, folio 211, the current holder of the Note being secured thereby having appointed Robert S. Glushakow and Douglas L. Burgess to act as Substitute Trustees, in place and stead of the aforementioned Trustees, 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 by virtue of proceedings before The Circuit Court For Washington County and captioned as Robert S. Glushakow, Douglas L. Burgess Substitute Trustees, vs. Rachuba Town & Country, LLC, Case No. 21-C-10-037179, on the premises, the following:


        All those fee simple lots or parcels of land, situate and lying in Washington County, State of Maryland and being described as follows:


        Beginning for the outline hereof at a point in the northern margin of Hagers Crossing Drive as shown on the subdivision plat titled, Phase I, Block A, Hagers Crossing recorded at plat folio 7273-7280 among the Land Records of Washington County, Maryland, running thence with said margin N 81°23'24" W 684.39 feet to a point, thence by a curve to the right with a radius of 465.00 feet, an arc length of 166.94 feet and a chord bearing and distance of N 71°06'18" W 166.05 feet to a point, thence N 60°49'12" W 45.56 feet to a point, thence N 60°49'12" W 124.04 feet to a point, running thence from said margin with new lines of subdivision and a curve to the left with a radius of 535.00 feet, an arc length of 53.92 feet and a chord bearing and distance of N 63°42'26" W 53.90 feet to a point, thence N 05°50'03" W 690.78 feet to a point, thence N 19°47'27" E 162.05 feet to a point in the southern most line of lands of Joseph H. Hershey (Liber 209, folio 207), thence with said lands S 86°52'18" E 1013.47 feet to a point, said point being southwestern corner of lands of Raymond R. Wollard (Liber 1389, folio 554), thence with said lands S 59°29'16" E 243.41 feet to a point, said point being northwestern corner of lands of Fairmount Real Estate Services, LLC (Liber 1982, folio 0390), thence with said lands S 30°52'34" W 40.52 feet to a point, thence S 30°52'34" W 100.00 feet to a point, thence S 08°36'36" W 78.78 feet to a point, thence S 81°23'24" E 41.40 feet to a point, thence by a curve to the left with a radius of 60 feet an arc length of 50.34 feet and a chord bearing and distance of S 00°04'36" E 48.88 feet to a point, thence by a curve to the left with a radius of 25.00 feet, an arc length of 21.51 feet and a chord bearing and distance of S 00°31'57" W 20.85 feet to a point, thence by a curve to the left with a radius of 225.00 feet, an arc length of 65.07 feet and a chord bearing and distance of S 16°53'40" W 64.84 feet to a point, thence S 08°36'34" W 572.58 feet to a point, by a curve to the left with a radius of 25.00 feet, an arc length of 39.27 feet and a chord bearing and distance of S 53°36'35" W 35.36 feet to point of beginning Containing 26 acres


        Saving and excepting therefrom, the roadbeds shown on the plat entitled, "Final Plat of Subdivision or Parcel F - Blocks A & B, Hagers Crossing," said plat being recorded among the Plat records of Washington County, Maryland as Plat No. 8728.


        The property to be sold is known as Parcel F, Blocks A and B, as shown on the aforesaid Plat.


        Parcel F, Block B comprises 16.52 acres, zoned C-2 with PUD Overlay (Commercial Planned Unit Development), which permits residential, retail and office use.  Conditional approval was given by the City of Hagerstown, on October 1, 2009, to construct 158 residential units, in 4 to 6 unit clusters (multiplexes).  The site is reported to have been backfilled and mass graded with utilities extended.  Deposit $100,000.

Photos of auction property


        Parcel F, Block A comprises 9.34 acres, separated by a 20' easement from Parcel F, Block B.  The parcel is used as a community recreational facility, with improvements reported to be a 5,500 square foot clubhouse, outdoor swimming pool, tennis courts, basketball court and playground.  Deposit $50,000.

Photos of auction property
CLUBHOUSE (FRONT)    CLUBHOUSE (REAR)
TENNIS COURTS    PLAYGROUND    POOL


        Additional Information:

        Final Plat of Subdivision or Parcel F – Blocks A & B, Hagers Crossing (pdf)

        Deed Plot (pdf)

        Legal Description of the Land (pdf)

        Preliminary Approval Letter from City of Hagerstown (pdf)


MANNER OF SALE

        
        Each of the two parcels will be offered individually and the bid reserved.  Then, both parcels will be offered as an entirety.  The sale will be made in the manner producing the greatest amount.


        The properties 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.  Prospective purchasers are strongly encouraged to perform their own due diligence regarding the development potential of the parcels, if any.  Dimensions, square footage and acreage mentioned herein are approximate and more or less, and not warranted.


TERMS OF SALE


        Deposits, as stated above under "Manner of Sale" or $150,000 if sold as an entirety, 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 office of the Auctioneers.  No deposit will be required of the Deed of Trust Noteholder or its wholly owned subsidiary if the property is purchased by the Deed of Trust Noteholder or its wholly owned subsidiary. 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 Washington County. 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, if the properties are purchased by someone other than the Deed of Trust Noteholder or its wholly owned subsidiary. 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, recording charges and agricultural transfer tax, if any, to be paid by the purchaser. The Substitute Trustees 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 properties  to be further developed or subdivided, the ability of the properties to obtain concept plan approval, development approval, subdivision approvals, building permits, grading permits, the ability of the properties to support wells, septic systems, and/or the ability of the properties to successfully support percolation. No representation or warranty, express or implied, is being made by the Substitute Trustees, the Deed of Trust Noteholder, the solicitors and/or the auctioneers. The sale of the properties is at all times subject to the laws, ordinances, and regulations governing the subdivision and development of the properties adopted by those governmental authorities having jurisdiction over the properties. All prospective purchasers are encouraged to undertake their own investigation, due diligence and review of the properties.  In that the sale is without representation or warranties,  express or implied, there are no further representations or warranties as to (i) the value, profitability, development potential, or marketability of the properties; (ii) the suitability of the properties for any particular purpose; (iii) the compliance or noncompliance of the properties  with any laws, rules, regulations, orders, ordinances, or requirements of governmental authorities, including, but not limited to, those pertaining to the development and subdivision of the properties; (iv) the presence, absence, or delineation of any non-tidal wetlands or streams  upon the  properties, as defined by applicable law or regulation; (v) the  adequacy of  public utilities, the  installation of public utilities, water, sewer, and other utility service to the properties or at the property lines of the subject parcels; (vi) the benefit or burden or need or requirement of recorded or unrecorded offsite or onsite easements;  (vii) the condition of soils on the properties; and/or (viii) any other matter relating to the properties and their development. No representation or warranties are provided as to the existence or non-existence of lead paint or any existent or latent environmental conditions affecting the properties and the improvements located thereon. The sale shall be subject to any housing code violations, easements, agreements, tenancies, restrictions, right of way agreements, and/or covenants of record affecting same, if any. Conveyance shall be by Substitute Trustees' Deed without covenant or warranty, express or implied.  The purchaser shall be responsible for complying with the registration of the properties and the improvements, 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 Substitute Trustees may reject and withdraw a bid by a prospective bidding purchaser at sale, if the Substitute Trustees determine that any bid so offered is not commensurate with the value of the properties being foreclosed upon. The highest bidder acknowledged by the Substitute Trustees shall be the Purchaser, and in the event of any dispute among the bidders, the Substitute Trustees shall have the sole and absolute final discretion to determine the successful bidder or to resell the properties.  Purchaser shall be responsible for obtaining physical possession of the properties, and the risk of loss shall be assumed by the purchaser from the date of sale.  If the Substitute Trustees 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 Deed of Trust Noteholder, the Solicitors  or Auctioneer.  The right to postpone, set over, or cancel all or a portion of the property from sale prior to the scheduled sale is reserved by the Substitute Trustees.  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


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