Rosenberg Martin Greenberg, LLP

25 South Charles Street

Suite 2115

Baltimore, MD 21201

SUBSTITUTE TRUSTEES’ SALE OF

NINE BUSINESS CONDOS

“The Penthouse”

28 ALLEGHENY AVENUE, BUSINESS UNITS

1,2,3+6,4+7,5,8 and 9

TOWSON, MD 21204

BID NOW: WWW.MELNICKNEWELL.HIBID.COM

Under and by virtue of the power of sale contained in that certain Commercial Money Loaned Deed of Trust, executed by Ravens Penthouse, LLC and dated April 6, 2010, and recorded among the Land Records of Baltimore County, Maryland, at Liber 29361, folio 431 (the “Deed of Trust”), the holder of the indebtedness secured by the Deed of Trust (the “Noteholder”) having appointed Joshua D. Bradley and Jessica L. Duvall (the “Trustees”) as substitute trustees  under the Deed of Trust pursuant to a Deed of Appointment of Substitute Trustees, dated May 4, 2020, duly executed, acknowledged, and recorded among the Land Records of Baltimore County at Book 42962, page 384, 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 or bidders at a public auction to be held at the subject properties, 28 Allegheny Avenue, Business Unit 1, Business Unit 2, Business Units 3 + 6, Business Units 4 + 7, Business Unit 5, Business Unit 8, Business Unit 9 Towson, MD 21204 on:

WEDNESDAY, OCTOBER 14th, 2020

Beginning at 11:00 a.m. We Will Offer the Nine Units In the Order Listed Below Consecutively and then Offer the Nine as an Entirety.

ALL OF THAT real property being situate in Baltimore County, Maryland,

BEING KNOWN AND DESIGNATED as Business Units Nos. 1, 2, 3, 4, 5, 6, 7, 8 and 9 in the Penthouse Condominium, a Horizontal Property Regime located in Towson, Maryland and established pursuant to the Declaration, By-Laws and Condominium Plats, respectively, recorded among the Land Records of Baltimore County on May 11, 1976 in Liber 5631, folio 591, et seq., in Liber 5631, folio 609, et seq. and in Condominium Plat Book No. 5 (14 Plats), respectively.  The improvements thereon being known as Units 1 through 9, Allegheny Avenue. , being more particularly described in the Deed of Trust and generally known as:

28 Allegheny Avenue, Towson, MD 21204

Lot 1) Bus. Unit 1, 3^rd flr, 1,829 ± sq. ft.              Lot 2) Bus. Unit 2, 3^rd flr, 1,472 ± sq. ft.

Lot 3) Bus. Unit 3, 3^rd flr, 1,846 ± sq. ft. + Bus. Unit 6, 4^th flr, 1,316 ± sq. ft. 

Lot 4) Bus. Unit 4, 3^rd flr, 1,848 ± sq. ft. + Bus. Unit 7, 4^th flr, 1,068 ± sq. ft.

Lot 5) Bus. Unit 5, 4^th flr, 12,994 ± sq. ft.           Lot 6) Bus. Unit 8, 5^th flr, 15,638 ± sq. ft

Lot 7) Bus. Unit 9, 6^th floor, 11,055 +/- sq. ft.

(collectively or individually, the “Property”).

TERMS OF SALE:  The Trustees will begin by offering Lot 1, Lot 2, Lot 3, Lot 4, Lot 5, Lot 6 and Lot 7, for sale individually and reserve the bid.  The Trustees will also offer Lot 1, Lot 2, Lot 3, Lot 4, Lot 5, Lot 6 and Lot 7 for sale as an entirety and will reserve the bid. The Trustees, in their  sole and absolute discretion, shall determine the successful purchaser(s) of Lot 1, Lot 2, Lot 3, Lot 4, Lot 5, Lot 6 and Lot 7 based upon the highest cumulative bid price for Lot 1, Lot 2, Lot 3, Lot 4, Lot 5, Lot 6, and Lot 7. In the event that Lot 1, Lot 2, Lot 3, Lot 4, Lot 5, Lot 6 and Lot 7 are sold together as a single unit, a deposit in the amount of Twenty-Five Thousand Dollars and Zero Cents ($25,000.00), payable in cash, certified check, or other form acceptable to the Trustees, in their sole and absolute discretion, will be required of the purchaser(s) at the time and place of sale.  In the event that Lot 1, Lot 2, Lot 3, Lot 4, Lot 5, Lot 6 and Lot 7 are sold separately, a deposit in the amount of Ten Thousand Dollars and Zero Cents ($10,000.00) for each Lot, payable in cash, certified check, or other form acceptable to the Trustees, in their sole and absolute discretion, will be required of the purchaser(s) at the time and place of sale. The Deposit must be increased to an amount equal to ten percent (10%) of the purchase price (either collectively or individually) and delivered no later than noon Friday, October 16th, 2020 to the office of The Auctioneer. The balance of the purchase price shall be due in cash or by certified check with interest on the unpaid balance of the purchase price at the rate of ten percent (10%) per annum from the date of sale to and including the date of settlement.  In the event the Noteholder, or an affiliate thereof, is the successful bidder at the sale, such party will not be required to make a deposit or to pay interest on the unpaid purchase money.  The Trustees reserves the right to reject any and all bids and to extend the time for settlement for any reason. All senior liens, real estate taxes, recordation taxes, assessments, ground rents, water charges and municipal charges owed against the Property, which are not extinguished as a matter of law by the foreclosure sale, shall be the sole responsibility of the purchaser(s) and shall be paid for by the purchaser at settlement.  In the event taxes or other municipal charges owing on or with respect to the Property have been prepaid they shall be adjusted at settlement between the Trustees and the purchaser(s) to the date of the foreclosure sale. In addition, all other charges, expenses and liens owed against the Property including, but not limited to, all condominium fees, HOA fees, and expenses and public charges and assessments owed against the Property and payable on a periodic basis (if any), which are not extinguished as a matter of law by the foreclosure sale, shall also be the responsibility of the purchaser and shall be paid by the purchaser at settlement. For informational purposes only, it has come to the Trustee’s attention that the physical dimensions of Lot 1 and Lot 2 have been modified such that they are not in line with the dimensions set forth in the legal descriptions of said lots expressed hereinabove.  Notwithstanding the foregoing, the Trustee is offering for sale Lot 1 and Lot 2 as legally described herein.  Moreover,, the Property will be sold in an “AS IS” condition and without any warranties or representations, either express or implied, as to the nature, condition or description of the Property or the improvement thereon including, without limitation, any discrepancy(ies) between the actual physical dimensions and the legal descriptions of the individual Lot(s).   The Property will also be sold subject to:  (a) all existing housing, building and zoning code violations; (b) all critical area and wetland violations; (c) all environmental problems, conditions and violations which may exist on or with respect to the Property; and (d) all matters and restrictions of record affecting the Property.  The purchaser(s) at the foreclosure sale shall assume the risk of loss for the above-referenced Property immediately after the sale takes place. It shall be the purchaser(s)’ responsibility to obtain possession of the Property following ratification of the sale by the Circuit Court for Baltimore County, Maryland. The Property will be sold subject to all of the following that are not extinguished as a matter of law by the foreclosure sale:  easements, conditions, liens, restrictions, rights of redemption, covenants, encumbrances, ground rents, ground leases, such state of facts that an accurate survey or physical inspection of the Property might disclose, and agreements of record. The purchaser(s) shall pay all state and local transfer taxes, recordation taxes and fees, title examination costs, attorneys’ fees, conveyance fees and all other incidental settlement costs. The purchaser(s) shall settle and comply with the sale terms within twenty (20) days following the final ratification of sale by the Circuit Court for Baltimore County, Maryland, unless said period is extended by the Trustees in Trustee’s sole and absolute discretion.  Time is of the essence. Unless the Trustees otherwise agree, settlement shall be held at the offices of Rosenberg Martin Greenberg, LLP, 25 South Charles Street, 21st Floor, Baltimore, Maryland 21201.In the event the purchaser(s) fails to go to settlement as required, in addition to any other legal or equitable remedies available, the Trustees may, without further order of the court, declare the aforementioned deposit forfeited and resell the Property at the purchaser’s sole risk and expense.  In such event, the defaulting purchaser(s) shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, reasonable attorneys’ fees, all other charges due, and incidental damages.  The parties’ respective rights and obligations regarding the terms of sale and the conduct of the sale shall be governed by and interpreted according to the laws of the State of Maryland. If the Trustees are unable to convey the Property as described above, the purchaser(s)’ sole remedy at law or in equity shall be limited to the refund of the aforementioned deposit, without interest thereon. Upon refund of the deposit to the purchaser(s), the sale shall be void and of no effect, and the purchaser(s) shall have no further claim against the Trustees or the Noteholder. The information contained herein was obtained from sources deemed to be reliable but is offered for informational purposes only.  The Auctioneer, the Noteholder and the Trustees do not make any representations or warranties with respect to the accuracy of this information. For further information, contact: Joshua D. Bradley, Esquire. Rosenberg Martin Greenberg, LLP 25 South Charles Street, Suite 2115 Baltimore, MD 21201 (410) 727-6671. CALL JONATHAN FOR INSPECTION 410-366-5555