AXELSON, WILLIAMOWSKY, BENDER AND FISHMAN, P.C.

1401 ROCKVILLE PIKE

SUITE 650

ROCKVILLE, MD 20852

SUBSTITUTE TRUSTEES’ SALE

OF VALUABLE COMMERCIAL PROPERTIES

strip mall & 10 UNIT APARTMENT BUILDING WITH LARGE PARKING LOT

303A & 309 MAIN STREET

MYERSVILLE, MD 21773

FRIDAY, JUNE 28, 2024, AT 12:00 P.M. (NOON)

TO BE HELD AT THE PREMISES

Under and by virtue of the power of sale contained in that certain Seller First Purchase Money Deed of Trust and Security Agreement, executed by Myersville Center, LLC and dated November 1, 2019, and recorded among the Land Records of Frederick County, Maryland, at Liber 13327, folio 226 (the “Deed of Trust”), the holder of the indebtedness secured by the Deed of Trust (the “Noteholder”) having appointed Jeremy K. Fishman and Erica T. Davis (the “Trustees”) as Substitute Trustees under the Deed of Trust pursuant to a Deed of Appointment of Substitute Trustees, dated April 22, 2024, duly executed, acknowledged, and recorded among the Land Records of Frederick County at Book 16869, page 349, default having occurred under the terms of the Deed of Trust and at the request of Noteholder, the Trustees will offer for sale to the highest qualified bidder at a public auction.

ALL OF THAT FEE SIMPLE LOT OF GROUND AND IMPROVEMENTS thereon situate and lying in Frederick County, Maryland and generally known as 303A Main Street, Myersville, MD 21773 (TAX ID#: 16-355801) and 309 Main Street, Myersville, MD 21773 (TAX 1D#: 16-355828) as more fully described in the aforesaid Deed of Trust, a copy of which may be obtained from the Substitute Trustees.

The Property is believed to be improved by a ten-unit apartment building with one unit currently operated by a beauty salon plus seven occupied units and two vacant units. There is also a strip mall occupied by Martin’s Farm Market and a vacant restaurant with a large parking lot to accommodate both the apartment complex and strip mall. 

TERMS OF SALE: 

The Property will be offered for sale in “AS IS, WHERE IS” condition and will be conveyed by Substitute Trustees Deed, subject to all encumbrances, rights, reservations, covenants, conditions, easements, restrictions and statutory liens, if any, having priority over the Deed of Trust, as they may lawfully affect the Property.  The Property will be sold subject to the right of redemption of the United States of America, if such right exists. 

The Substitute Trustees and Beneficiary disclaim all warranties of any kind, either express or implied, for the Property and any improvements thereon, including, without limitation, any warranty relating to the zoning, structural integrity, physical condition, condition of the soil, extent and nature of construction, workmanship, materials, habitability, environmental condition, compliance with applicable laws, fitness for a particular purpose and merchantability. 

The Property will be sold subject to all conditions and dedications contained on any subdivision plats, easements, liens, conditions, restrictions, rights of redemption, rights of entry, covenants, encumbrances, and agreements of record affecting the same (collectively, “Liens”), if such Liens have priority over the Deed of Trust, and subject to (i) all applicable homeowners or condominium association organizational documents or other regimes, (ii) all existing housing, building and zoning code violations, (iii) all environmental problems and violations which may exist on or with respect to the Property, and (iv) all matters that an accurate survey or physical inspection of the Property might disclose. 

The risk of loss or damage to the Property shall be borne by the successful bidder from and after the date and time of the sale.  Obtaining possession of the Property and dealing with the personal property thereon, if any, shall be the sole responsibility of the successful bidder.

A deposit of One Hundred Thousand Dollars ($100,000.00) in the form of a cashier’s check or bank official check or any form suitable to the Substitute Trustees (“Deposit”) will be required at the time of sale from all purchasers other than Beneficiary or an affiliate of Beneficiary. The Deposit will not earn interest. Beneficiary or an affiliate thereof is not required to make a Deposit. The Substitute Trustees reserve the right to (i) waive or modify the deposit requirement; (ii) approve the creditworthiness of any bidder or final purchaser; (iii) withdraw all or part of the Property from sale at any time prior to the termination of bidding; (iv) keep the bidding open for any length of time; (v) reject any or all bids; and (vi) postpone the sale and conduct other sales as the Substitute Trustees may determine in their discretion. Immediately after the sale, the successful bidder shall execute and deliver a contract of sale with the Substitute Trustees for the Property, incorporating the terms and conditions hereof, a copy of which shall be available for inspection prior to the sale.

The balance of the purchase price, together with interest at 4.00% per annum from the date of sale to the date of settlement, which shall not be abated for any reason, shall be paid in cash within twenty (20) days after ratification of the sale by the Circuit Court for Frederick County, Maryland, time being of the essence with regard to all of the purchaser’s obligations.  

Real estate taxes, water, ground rents and other municipal liens and charges, and all other public charges and assessments payable on an annual basis, shall be adjusted to the date of the sale and assumed thereafter by the purchaser. However, the purchaser is responsible for any amount in excess of $500.00 of outstanding water bills, if any, incurred prior to the date of sale and the purchaser is responsible for any amount in excess of $500.00 of outstanding civil citation, penalty and/or code violation liens, if any, incurred prior to the date of sale. Any condominium or homeowners’ association fees, assessments or capital contributions payable with respect to the Property shall be assumed after the date of sale by the purchaser. The purchaser shall pay all settlement fees, title examination charges, title charges and title insurance premiums, all recording costs (including the state grantor’s tax and all state and city recordation taxes and fees, clerk’s filing fees and transfer fees and taxes). The purchaser shall pay all costs incidental to the conveyance of the Property.

If any successful bidder fails for any reason to complete settlement as provided above, their Deposit shall be forfeited and applied to the costs of the sale, including Substitute Trustees fees, and the balance, if any, shall be delivered to Beneficiary to be applied against the indebtedness secured by the Deed of Trust in accordance with the Deed of Trust and applicable law.  There shall be no refunds. The purchaser agrees to pay the Substitute Trustees’ fees plus all costs incurred if the Substitute Trustees have filed the appropriate pleadings with the Court to resell the property. Purchaser waives personal service of any paper filed with the Court in connection with such motion and any Show Cause Order issued by the Court and expressly agrees to accept service of any such paper or Order by certified mail and regular mail sent to the address provided by the purchaser and as recorded on the documents executed by purchaser at the time of the sale.  Service shall be deemed effective upon the purchaser 3 days after postmarked by the United States Post Office.  It is expressly agreed by the purchaser that actual receipt of the certified mail is not required for service to be effective. If the purchaser fails to go to settlement the deposit shall be forfeited to the Substitute Trustees and all expenses of this sale (including attorney fees or full commission on the gross sales price of the sale) shall be charged against and paid from the forfeited deposit.  In the event of resale the defaulting purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property regardless of any improvements made to the real property. Such forfeiture shall not limit any rights or remedies of the Substitute Trustees or Beneficiary with respect to any such default. If the Property is resold, such re-sale shall be at the risk and cost of the failing bidder, and the failing bidder shall be liable for any deficiency between its bid and the successful bid at the resale, and the costs of conducting such re-sale. If the Substitute Trustees are unable to convey title, the purchaser's sole remedy in law and in equity shall be limited to a refund of the deposit.

The information contained herein was obtained from sources believed to be reliable but is offered for informational purposes only. Neither Beneficiary nor the Substitute Trustees make any representations or warranties with respect to the accuracy of this information. Each bidder is responsible for independently determining the validity and accuracy of the information provided herein or any other information or materials upon which each bidder relies in submitting a bid.

The Purchaser will hold harmless and indemnify the Auctioneer as well as the Substitute Trustees and all employees and agents of the foregoing against any and all claims and/or actions arising out of Auctioneer’s participation in the auction from date of sale to date of settlement, including without limitation, expenses, judgments, fines, settlements and other amounts actually and reasonably incurred in connection with any liability, suit, action, loss or damage as a result of Auctioneer’s participation in the auction. Call Marie at 410-366-5555. BROKER CO-OP INVITED. CALL FOR DETAILS AND PRE-REGISTRATION REQUIREMENTS.

         Additional terms and conditions may be announced at the time of sale.

Jeremy K. Fishman & Erica T. Davis, Substitute Trustees

(Melnick/Newell Since 1907) 

The Frederick News Post

Jun 13, Jun 20, Jun 27