566 Old Town Mall Baltimore, MD
Alan Fink, LLC
600 Baltimore Avenue-Suite 208
Towson, MD 21204
Mortgage Assignee's Sale Of
Valuable Leasehold Commercial Property
566 Oldtown Mall, Baltimore, MD 21202
Under and by virtue of the power of sale contained in a certain Purchase Money Mortgage, Security Agreement, Assignment, Financing Statement and Fixture Filing (this "Mortgage") from Mikita Thompson and Kwasha Kane, dated February 27, 2017 and recorded among the Land Records of Baltimore City in Liber 19035, folio 201, the holder of the indebtedness secured by this Mortgage having appointed Alan Fink, Mortgage Assignee, by instrument duly recorded among the aforesaid Land Records, default having occurred under the terms thereof, and at the request of the party secured thereby, the undersigned Trustee will offer for sale at public auction AT THE FRONT OF THE BALTIMORE CITY COURTHOUSE LOCATED AT 100 N. CALVERT STREET (COURTHOUSE WEST), BALTIMORE, MD ON,
June 3, 2019 at 10:00 a.m.
ALL THAT LEASEHOLD LOT OF GROUND AND IMPROVEMENTS, situated in BALTIMORE CITY, Maryland and described as follows:
BEGINNING FOR THE SAME on the northwest side of Gay Street distant northerly 540 feet 6 inches from the east corner of a shed-roofed brick building formerly erected by Rew, being at the west corner of the house erected on said lot, and running thence northeasterly binding on North Gay Street 15 feet 1 inch to the east corner of the two story brick house erected on said lot, thence northwesterly at right angles with North Gay Street 100 feet to a 10 foot alley thence southwesterly binding on said alley 15 feet 1 inch and thence to the place of beginning. The improvements thereon being known as No. 566 North Gay Street, now known as 566 Oldtown Mall.
THE PROPERTY IS SUBJECT TO ANNUAL GROUND RENT OF $0.01 PER YEAR.
The property will be sold in an "AS IS" condition without either express or implied warranty or representation, including but not limited to the description, fitness for a particular purpose or use, structural integrity, physical condition, availability of utilities, flood hazard, lead paint violations, construction, extent of construction, workmanship, materials, liability, zoning, subdivision, environmental condition, merchantability, compliance with building or housing codes or other laws, ordinances or regulations or other similar matters, and subject to easements, agreements and restrictions of record, and to any rights of tenants in possession which affect the same, if any.
TERMS OF SALE: A deposit of $4,500.00 by certified funds only (no cash will be accepted) is required at the time of auction. Balance of the purchase price to be paid in cash within ten days of final ratification of sale by the Circuit Court of Baltimore City. The purchaser, other than the Holder of the Note, its assigns, or designees, shall pay interest on the unpaid purchase money at the note rate from the date of foreclosure auction to the date funds are received in the office of the Trustee. In the event settlement is delayed for any reason, there shall be no abatement of interest. Real estate taxes to be adjusted to date of auction. All other public charges, or assessments, including water/sewer charges, ground rent, condo/HOA assessments or private utility charges, not otherwise divested by ratification of the sale, shall be paid by purchaser without adjustment. Cost of all documentary stamps, transfer taxes and settlement expenses, and all other costs incident to settlement, shall be borne by the purchaser. Purchaser shall be responsible for obtaining physical possession of the property. Purchaser assumes the risk of loss or damage to the property from the date of sale forward. If the purchaser shall fail to comply with the terms of the sale or fails to go to settlement with ten (10) days of ratification of the sale, the Trustee may, in addition to any other available legal remedies, declare the entire deposit forfeited and resell the property at the risk and cost of the defaulting purchaser. Purchaser waives personal service of any paper filed in connection with such a motion on himself and/or any principal or corporate designee, and expressly agrees to accept service of any such paper by regular mail directed to the address provided by said bidder at the time of foreclosure auction. In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of resale, reasonable attorney's fees, and all other charges due and incidental and consequential damages, and any deficiency in the underlying secured debt. The purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property. If the Trustee cannot convey insurable title, the purchaser's sole remedy at law or in equity shall be the return of the deposit. The sale is subject to post-sale confirmation and audit of the status of the loan with the loan servicer including, but not limited to, determination of whether the borrower entered into any repayment agreement, reinstated or paid off the loan prior to the sale. In any such event, this sale shall be null and void, and the Purchaser's sole remedy, in law or equity, shall be the return of his deposit without interest.