Stephen M. Goldberg, Solicitor
Tydings & Rosenberg, LLP
100 E. Pratt Street - 26th Floor
Baltimore, Maryland 21202
SUBSTITUTE TRUSTEES' AUCTION
- Baltimore County, MD –
Former Schaefer & Strohminger
47,900 Sq. Ft. On 5.50± Acres Zoned BR
Showroom, Offices & Service Facilities
Two Buildings, Separate Entrances
Fenced Paved Yard
Sale On Premises
8115 BELAIR ROAD (US-1)
& 4212 RIDGE ROAD
Between Beltway (I-695) and
White Marsh Boulevard (MD-43)
Nottingham, Baltimore County, MD 21236
TUESDAY, FEBRUARY 22, 2011
AT 2:00 P.M.
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 from S&S Enterprises, dated January 21, 1992 and recorded among the Land Records of Baltimore County, Maryland, in Book 9038, Page 016, as modified and amended from time to time and which are more particularly described and set forth in the Order to Docket Foreclosure of Commercial, Non-Residential Properties in the foreclosure action pending in the Circuit Court for Baltimore County, entitled Michael Germaine and Stephen M. Goldberg, Plaintiffs v. S&S Auto Properties, LLC, Case No. 03C100009204, the holder of the indebtedness secured thereby having appointed the undersigned Substitute Trustees to sell at Public Auction, on the premises, the following:
All that fee simple lot of ground and the improvements thereon, situate and lying in Baltimore County, State of Maryland and being more fully described in the above-referenced Indemnity Deed of Trust and/or amendments thereto.
The metes and bounds descriptions and plats are available on the Auctioneer's web site or by calling the Auctioneer's office. For complete site information, prospective purchasers should refer to those metes and bounds descriptions and/or plats. Prospective purchasers are encouraged to perform their own due diligence with regard to the zoning and permitted uses of the property. 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 within this advertisement are approximate and more or less.
Identified as Baltimore County Tax Account #04-14-1800006126, the property is believed to front approximately 238' along the east side of Belair Road (US-1) and approximately 420' along the north side of Ridge Road, comprising approximately 5.5 acres of land. Zoning is believed to be BR, Business Roadside. All public utilities are believed to be in the site. The parcel is asphalt paved with pole lighting and two sign pylons. A portion of the property is chain link fenced. The site has excellent visibility from north or southbound Belair Road. The site is located north of Baltimore Beltway (I-695) Exit 32. There is access to the property from Belair and Ridge Roads.
The property is improved by two, bi-level masonry and steel automobile dealership buildings. According to public tax records, the buildings comprise approximately 47,900 square feet of gross building area. Part of the property is sometimes referred to as 8115 Belair Road, which was used as an automobile showroom, sales and dealership management offices and drive-in service facility. Part of the property is sometimes referred to as 4212 Ridge Road, which was used as corporate offices, parts distribution and drive-in service facility. Each building has central heat and air conditioning in the customer and office areas.
TERMS OF SALE
A $100,000 deposit, 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, the beneficiary of the Deed of Trust, or their affiliate, 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 Baltimore 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; 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
Michael Germaine and Stephen M. Goldberg,
2010 Published Annual Real Estate Taxes:
8115 Belair Road
$64,207.72, based on a full value assessment of $5,485,100
Phase I and Phase II environmental reports for 8115 Belair Road/4212 Ridge Road are available. Please sign and return this WAIVER AND CONFIDENTIALITY FORM (pdf) and the reports will be forwarded by email.
Baltimore County, MD - Assistance Programs
The Baltimore County Department of Economic Development may have programs that could help a commercial purchaser of these properties. For more information, click to download the: Summary of Assistance Available to County Businesses (pdf).