SUBSTITUTE TRUSTEE’S SALE

OF VALUABLE COMMERCIAL PROPERTY

LongMeadow Auto Repair & FUEL CENTER

located at

19348 Leitersburg Pike, Hagerstown, Maryland 21742

THURSDAY, FEBRUARY 25, 2021

AT 12:00 P.M. (NOON)

TO BE HELD AT THE PREMISES

            Pursuant to the power of sale contained in an Indemnity Deed of Trust (“Deed of Trust”) from Car-Tune, Inc., recorded in the Land Records of Washington County, Maryland in Liber 3857, folio 131, the undersigned Substitute Trustee, at the request of the beneficiary of the Deed of Trust (“Beneficiary”), will offer for sale at public auction at the premises the real property commonly known as 19348 Leitersburg Pike, Hagerstown, Maryland, being more particularly described in the Deed of Trust (the “Property”).

DESCRIPTION OF PROPERTY

The Property is believed to consist of approximately 19,907 SF +/- and be improved by a single-story service station totaling approximately 3,700 to 3,900 SF +/-.  Tax Account No. 27-006671.

TERMS OF SALE

Cash. The Property will be offered for sale in “AS IS, WHERE IS” condition and will be conveyed by Substitute Trustee’s 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 Trustee 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 Twenty-Five Thousand Dollars ($25,000.00) in the form of a cashier’s check or bank official check (“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 Trustee reserves 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 Trustee may determine in his discretion. Immediately after the sale, the successful bidder shall execute and deliver a contract of sale with the Substitute Trustee 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 4.75% 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 Washington County, Maryland, time being of the essence with regard to all of the purchaser’s obligations.  

Settlement shall take place at the law offices of Rosenberg Martin Greenberg LLP, 25 S. Charles Street, Baltimore, MD 21201, or such other place as is agreeable to the parties.  Real estate taxes, water, ground rents and other municipal liens and charges, and all other public charges and assessments payable on an annual basis, or otherwise, shall be adjusted to the date of the sale and assumed thereafter by the purchaser. 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 Beneficiary is the purchaser of the Property at the sale, the amount bid at the sale by Beneficiary shall be a credit against the indebtedness secured by the Deed of Trust.

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 Trustee’s 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.  Such forfeiture shall not limit any rights or remedies of the Substitute Trustee or Beneficiary with respect to any such default.  After any such default and forfeiture, the Property may at the discretion of the Substitute Trustee, in consultation with Beneficiary, be conveyed to the next highest bidder on the Property whose bid was acceptable to the Substitute Trustee.  If, instead, 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.  In the event the Substitute Trustee does not execute a deed of conveyance or other necessary settlement documents, the purchaser’s sole remedy shall be the refund of the Deposit.  Immediately upon conveyance by the Substitute Trustee of the Property to a purchaser at foreclosure, all duties, liabilities, and obligations of the Substitute Trustee, if any, with respect to the Property so conveyed shall be extinguished.

The information contained herein was obtained from sources believed to be reliable but is offered for informational purposes only. Neither Beneficiary nor the Substitute Trustee 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.

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

JEFFREY S. GREENBERG, Substitute Trustee