A&M Auctioneers and Appraisers, LLC.Local Fax:(410) 835-0370
ONLINE BIDDING POWERED BY:
Kenneth L. Hooper, Assignee for the Purpose of Foreclosure
c/o Hearne & Bailey, P.A.
126 East Main Street
Salisbury, Maryland 21801
(410) 749-5144
CIVIL ACTION NO. 22-C-12-000784 FC
CIRCUIT COURT FOR WICOMICO COUNTY
ASSIGNEE’S SALE OF VALUABLE
IMPROVED REAL PROPERTY KNOWN AS
“403 EAST MAIN STREET, SALISBURY, MARYLAND 21801”
(sometimes referenced as 403-413 East Main Street, Salisbury, MD 21801)
(Tax Map 0107, Parcel 0916; Tax Account No. 05-003962)
Under and by virtue of the Power of Sale and Authority contained in a certain Mortgage from Shlomo Bitton to Wilmington Savings Fund Society, FSB, dated October 24, 2007, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2859, Folio 560, said Mortgage being assigned to VFC Partners 20, LLC, by Assignment of Mortgage dated June 15, 2012, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 3460, Folio 001, default having occurred under the terms thereof, the holder of the indebtedness secured by the Mortgage having assigned said Mortgage to the Assignee for the purpose of foreclosure by Assignment of Mortgage, dated April 26, 2012, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 3430, Folio 494, and by Confirmatory Assignment of Mortgage, dated January 17, 2013, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 3532, Folio 418, Assignee will offer for sale at public auction the below referenced property AT THE COURT HOUSE ENTRANCE OF THE CIRCUIT COURT FOR WICOMICO COUNTY, AT THE COURT HOUSE STEPS, 101 N. DIVISION STREET, SALISBURY, MARYLAND,
ON TUESDAY, MARCH 18, 2014, AT 10:00 A.M.
DESCRIPTION: ALL that lot, tract or parcel of land situate, lying and being in the City of Salisbury, in Parsons Election District, Wicomico County, State of Maryland, on the Northerly side of and binding upon East Main Street, being bounded on the West by land now or formerly of the State of Maryland and the land of Citizens Gas Company, bounded on the North by land of Citizens Gas Company and land now or formerly owned by N. R. Wootten, et al, and being more particularly described as follows: BEGINNING for the same at a point on the Northwest side of East Main Street at a chisel mark at the edge of the sidewalk, said point of beginning being the Southwest corner of the land now or formerly owned by N. R. Wootten, et al, and the Southeast corner of the land hereby conveyed, thence (1) running North 81 degrees 21 minutes West, by and with the Northerly side of said East Main Street a distance of 172.6 feet to the line of land of the State of Maryland; thence (2) North 15 degrees 37 minutes East by and with said State of Maryland land and the land of Citizens Gas Company, a distance of 161.3 feet to a cement post; thence (3) South 81 degrees 21 minutes East continuing with said Citizens Gas Company land a distance of 152.3 feet to a cement post; thence (4) South 08 degrees 24 minutes West continuing with said Citizens Gas Company and the land of N. R. Wootten, et al, a distance of 160 feet to the place of beginning, TOGETHER with and including all of the right, title, interest and estate of the Grantor in and to the strip of land lying between the Southernmost line of the land hereinbefore described and the North line of said East Main Street, which said strip of land is now being used for sidewalk area and for sidewalk purposes, EXCEPT so much hereof as is contained in a Deed from Louis Cohen, et al, to the State of Maryland for the use of State Roads Commission, dated March 18, 1954, and recorded among the aforesaid Land Records in Liber J.W.T.S. No. 356, Folio 360 and being shown and designated as Parcel “A-B-C-D” containing 25,968 square feet, on a plat made by Richard W. Cooper, dated November 17, 1950, for Citizens Gas Company and recorded among the Land Records for Wicomico County, Maryland, in Liber J.W.T.S. No. 321, Folio 79; and also being more particularly shown and depicted on that plat entitled “Boundary Survey – William J. Ahtes, LLC,” prepared by Parker & Associates, Inc., dated November 3, 2004, and recorded among the Land Records of Wicomico County, Maryland, in Plat Cabinet M.S.B. No. 14, Folio 720; the improvements thereon being known as 403-413 E. Main Street, Salisbury, MD 21801, being the same property conveyed unto Shlomo Bitton by Deed dated August 11, 2005, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2454, Folio 339; and by Confirmatory Deed dated October 24, 2007, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2859, Folio 556. All of the above described property is being conveyed TOGETHER WITH the improvements and fixtures thereon and the rights and powers reserved and any other rights, powers and appurtenances thereto belonging or appertaining. SUBJECT, however, to the obligations of such owner as more particularly set forth in any Declarations and Covenants of record, as amended, if any. The above described property is being offered for sale SUBJECT to any violation notices and subject to all covenants, agreements, conditions, liens, easements and restrictions as may appear among the Land Records of Wicomico County, Maryland, affecting same, if any.
IMPROVEMENTS: The above described property is improved by a free standing retail building believed to be 4,800 square feet, more or less. Assignee makes no representations as to the accuracy of the aforesaid or the building’s compliance with building codes.
TERMS OF SALE: A deposit of Twenty-five Thousand Dollars ($25,000.00) will be required of the purchaser. Said deposit shall be in the form of cash, certified or cashier’s check at the time and place of sale, or other form of security, at the sole discretion of the Assignee, the balance of the purchase price to be secured to the satisfaction of the Assignee. The balance in cash shall be due at settlement which shall be within twenty (20) days after final ratification of sale by the Circuit Court for Wicomico County, Maryland, unless such period is extended by the Assignee, his successors or assigns, for good cause shown, time being of the essence. In the event the property is purchased by someone other than the holder of the indebtedness secured by the Mortgage, or any of its subsidiaries or related entities, interest shall be paid on the unpaid purchase money at the rate of 4.50% from date of sale to the date of settlement. In the event settlement is delayed for any reason and the property is purchased by someone other than the holder of the indebtedness, its subsidiaries and/or affiliates, there shall be no abatement of interest caused by the delay. If payment of the balance does not take place within twenty (20) days of ratification, in addition to any other legal or equitable remedies available to him, the Assignee may declare the entire deposit forfeited and resell the property at the risk and cost of the defaulting purchaser. In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of sale, attorneys’ fees and all other charges incurred by the Assignee. The purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property. The property will be sold in “AS IS,” “WHERE IS” condition without recourse, representations or warranties, either expressed or implied, as to its nature, condition, description, or its suitability for a particular or general purpose. Quantity or quality of the land and improvements is not of the essence. Taxes, rents, annually payable public charges and assessments, water and sewer charges, including the front foot benefit charges of the appropriate governing agency, if any, and association dues, if applicable, will be adjusted to the date of sale and thereafter assumed by the purchaser. All costs of conveyancing, including attorneys’ fees, state documentary stamps, agricultural transfer tax, state and county transfer taxes and recordation taxes will be paid by the purchaser. Purchaser shall be responsible for obtaining physical possession of the property. In the event that the property is occupied by tenants/patrons, the Assignee assumes no responsibility for security deposits or other monies paid by tenants/patrons to anyone. The purchaser is purchasing the subject property subject to any Wicomico County and City of Salisbury Code violations and any fines related thereto and shall be responsible for abating said violations, if any, and the payment of said fines related thereto. The purchaser’s sole remedy at law or in equity, in the event the Assignee is unable to convey marketable title to the property, by reason of any defect in the title or for any reason otherwise, shall be limited to the return of the deposit. Upon return of the deposit, the sale shall be null and void and of no effect, and the purchaser shall have no further claims against the Assignee or his respective agents, attorneys, employees, successors and assigns. Assignee makes no warranties, expressed or implied, as to the use, zoning or habitability condition of the premises on the property. There are no warranties as to the building’s compliance with any building, zoning or life safety code in effect and bidder should verify all matters in person. Risk of loss passes at the date and time of sale. Neither the Assignee, the holder of the indebtedness, nor the Auctioneer shall be responsible for any federal, state or county environmental violations, if any exist, and the purchaser is responsible for, and the property is sold subject to, any environmental matter or condition, whether latent or observable, if any, that may exist at or affect or relate to the property and to any governmental requirements affecting same. Neither the Assignee, the holder of the indebtedness, nor any other party makes any warranty or representation of any kind or nature regarding the physical condition of, the description of, the environmental condition of, or title to the property. Purchaser shall furnish an Affidavit of Identification and Capacity pursuant to Rule 14-305(b) of the Maryland Rules of Procedure. The conveyance of the property by the Assignee to the purchaser at settlement shall be by Assignee Deed without covenant or warranty. The Assignee reserves the right to reject any and all bids. The Assignee reserves the right to postpone sale by public announcement at the time and place of sale. The Assignee reserves the right to modify or waive the requirements for bidder’s deposits and terms of sale and/or settlement. If the holder of the indebtedness secured by the Mortgage or any of its subsidiaries or affiliates is the successful bidder, it shall be exempt from the terms of sale set forth herein, including the requirement for a deposit. The holder of the indebtedness secured by the Mortgage shall be permitted to bid at sale. The contract of sale between the Assignee, as seller, and the purchaser (the “Contract of Sale”) shall include, by reference, all the terms and conditions contained herein, as well as such other terms the Assignee deems necessary and appropriate. Purchaser shall be responsible for registering the acquisition of the property within thirty (30) days of the above referenced foreclosure auction. Prior to bidding and as a condition of bidding, all prospective bidders shall register and display photo identification, deposit funds and when bidding as an agent, provide a recordable power of attorney. When a corporation or limited liability company is bidding, it shall also provide evidence that it is in good standing with its state of incorporation. The sale may be recorded, televised, videotaped and/or broadcast.
NOTE: The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only. The Assignee, Auctioneer and the holder of the indebtedness do not make any representations or warranties with respect to the accuracy of the information contained herein. Prospective purchasers are urged to make their own inspection and consult with their own attorneys for legal issues. For information, please contact Kenneth L. Hooper, Assignee, at (410) 749-5144, or Marshall Auction-Marketing Co., Inc. at (410) 749-8092.
Kenneth L. Hooper, Assignee for the Purpose of Foreclosure
Auctioneer: Marshall Auction-Marketing Co., Inc.
