"Port Deposit" 2 Semi-Detached Homes Water Views of the Susquehanna River


Listing Details

Sold Price
Auction Date
Auction Time
11:30 AM
84 & 86 N. Main Street, Cecil County, MD, 21904
Cecil County
Port Deposit
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Thomas J. Ryan, Solicitor
Coady & Farley
400 Allegheny Ave., 21204


2 - Semi-Detached

Sale On Premises
84 & 86 N. MAIN ST.
Cecil County, MD 21904

THURSDAY, AUG. 27, 2009
AT 11:30 A.M.

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        Under and by virtue of the power of sale contained in a certain Deed of Trust from Debra Laubach (a/k/a Debra G. Laubach) to Mary Beth Taylor and J. Daniel Sadler, Trustees, dated March 25, 2008, and recorded among the Land Records of Cecil County, in Liber 2500, folio 686, the holder of the indebtedness secured thereby and pursuant to Case No. 07-D-09-000719 in the Circuit Court for Cecil County, Maryland, having appointed Michael L. Snyder and Kellie M. Gombeski to act as Successor 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 Successor 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 Cecil County, State of Maryland, and being more fully described in the above referenced Deed of Trust.

        The properties are improved by two, turn of the century, semi-detached covered porchfront homes known as 84 and 86 N. Main Street.  Each home reportedly contains a living room, kitchen and powder room, on the first floor;   master bedroom and 2 baths, on the second floor; 3 bedrooms on the third floor; baseboard heat; water views of the Susquehanna River.

        TERMS OF SALE:  A $10,000 deposit for each property, or a $20,000 deposit 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 shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's Office.  The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. 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 Cecil County at the offices of the Successor Trustees.  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 stated in the foreclosed Deed of Trust Note, from date of sale to date of settlement.  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.  Manner of sale to be announced by the Successor Trustees prior to sale.  The properties 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 easements, agreements, restrictions or covenants of record affecting same, if any.  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 Successor 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 Successor 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 Successor Trustees, the holder of the indebtedness or Auctioneers.  Recordation costs, transfer taxes and all other costs incident to settlement, including a $300 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.

Michael L. Snyder,
Kellie M. Gombeski,
Successor Trustees