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Legal auctions are subject to last minute changes. Please be sure to call either the offices of the Substitute Trustees or the Auctioneers to determine if the auction is still scheduled.

Pursuant to the power of sale contained in a Purchase Money Mortgage dated September 19, 2006 and recorded among the aforesaid Land Records in Liber FMC No. 8395, folio 742, default having occurred thereunder, the undersigned duly appointed Assignees will offer for sale at public auction, at the Courthouse Door of the Circuit Court for Baltimore City, Clarence M. Mitchell Courthouse, 100 N. Calvert Street, Baltimore City, Maryland 21202 on

WEDNESDAY JULY 9, 2008
AT 10:45 A.M.
ALL that lot of ground and the improvements thereon situate and lying in Baltimore City, Maryland and described as follows:

BEGINNING FOR THE SAME on the east side of Claymont Avenue at the distance of 190 feet northerly from the corner formed by the intersection of the east side of Claymont Avenue and the north side of Edmondson Avenue which place of beginning is also designated to be at the center of the partition wall there situate, thence running northerly binding on the east side of Claymont Avenue 13 feet to the center of the partition wall there situate, thence running easterly parallel with Edmondson Avenue through the center of the partition wall last above mentioned 66 feet to the west side of an alley 10 feet wide there situate, thence running southerly binding on the west side of said alley with the use thereof in common 13 feet to intersect a line drawn easterly parallel with Edmondson Avenue through the center of the partition wall in this description first mentioned and running thence westerly reversing said line so drawn and binding thereon 66 feet to the place of beginning. The improvements thereon being known as No. 615 Claymont Avenue. Subject to an annual ground rent of $96.00 payable in equal semi-annual installments on the 15th days of January and July in each and every year.

The property will be sold in an “as is,” condition and subject to all conditions, restrictions, easements, covenants, and agreements of record affecting the same, if any, and without expressed or implied warranty as to the nature and description of the improvements as contained herein.

Terms of Sale: A deposit of $2,500.00 will be required at the time of sale, such deposit shall be in cash, cashier’s check, or in other form as the Assignees may determine acceptable, in their sole discretion. The deposit shall be increased to Ten (10) percent of the purchase price within twenty-four (24) hours of the sale at the Assignees’ Office and shall be in the same form as the original deposit. If payment of the balance does not take place within the specified period, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. Balance of purchase price to be paid in cash at settlement, which shall take place at the offices of the Assignees within ten (10) business days following final ratification of sale by the Circuit Court for Baltimore City, unless said time is extended by the Assignees for good cause shown. If payment of the balance does not take place within the specified time, purchaser agrees to pay attorneys’ fees in the amount of $750, plus costs, if the Assignees have moved to resell the property. If purchaser defaults under these terms, the deposit shall be forfeited and the property will be resold at the risk and expense of the defaulting purchaser. The defaulting purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property, even if such surplus results from improvements to the property by said defaulted purchaser. Interest will accrue on the unpaid purchase money, at the rate stated in the foreclosed Mortgage, from date of sale to date of settlement, in the event the property is purchased by someone other than the mortgage holder. In the event settlement is delayed for any reason, including, but not limited to, exceptions to this sale, bankruptcy filings by interested parties, court administration of the foreclosure or unknown title defects, there shall be no abatement of interest. The sale is subject to post-sale confirmation that the borrower did not file for protection under the U.S. Bankruptcy Code prior to the sale. In such event, this sale shall be null and void, and the purchaser’s sole remedy, in law and equity, shall be the return of the deposit without interest. All taxes, ground rent, and water rent to be adjusted to date of sale. Purchaser shall be responsible for the payment of the ground rent escrow, if required. All other state, city, and other taxes, public charges or 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 by the purchaser thereafter. Purchaser is responsible for any amount in excess of $250 of outstanding water bills, if any, incurred prior to date of sale. Costs of all transfer taxes, documentary stamps and recordation costs shall be borne by the purchaser. Purchaser shall be responsible for obtaining physical possession of the property. Purchaser waives and releases the Assignees, 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 sale is not ratified, or if for any reason the Assignees 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 Assignees, Mortgage Holder, or Auctioneers. The purchaser at the foreclosure sale shall assume the risk of loss for the property immediately after the sale. Additional terms, if any, to be announced at sale. Purchaser agrees to pay $250 at settlement to the seller’s attorney for review of the settlement documents, and an additional fee of $250 for review of any motion which may be subsequently filed with the Court to substitute a purchaser herein. Time shall be of the essence for the purchaser.


DEBORAH M. ENGRAM
JAMES C. BRENNAN
Assignees

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