TRUSTEES’ SALE
DOWNTOWN EASTON RETAIL AND OFFICE SPACE
AT THE NORTHWEST CORNER OF DOVER AND HARRISON STREETS
INCLUDES 1, 3, 5 and 7 NORTH HARRISON AND 37, 39 and 41 DOVER STREET
THREE STORIES AND A PARTIAL BASEMENT
OPPOSITE THE TIDEWATER INN
ZONED CR (CENTRAL BUSINESS COMMERCIAL)
As authorized by the terms of a Deed of Trust dated June 7, 2006 and recorded at Liber 1451, beginning at page 436 of the Talbot County Land Records, default having occurred under the terms thereof, the holder of the indebtedness secured by the Deed of Trust having appointed Alexis E. Kramer and John F. Hall as Substitute Trustees by instrument recorded among the aforesaid Land Records at Liber 1781, beginning at page 41, the undersigned Substitute Trustees will sell at public auction, ON THE PREMISES (1 North Harrison Street, Easton, Maryland), on
Friday, August 13, 2010 at 11:00 A.M.
ALL those two adjoining parcels of land at the northwest corner of Dover and Harrison Streets in the Town of Easton, Talbot County, Maryland being more particularly described as follows:
PARCEL NO.1: BEGINNING at a point on the north side of Dover Street forty (40) feet from the alley known as Dawson’s Alley (which runs north from Dover Street between 27 Dover Street and 29 Dover Street), and running east with Dover Street 26 feet 6 inches, thence North 75 feet to another alley, thence west with the southern line of such other alley to the eastern line of the land of David Bishop (Liber 983 folio 223), and thence South 75 feet to the place of beginning.TOGETHER WITH the right to use, in common with others lawfully entitled to the use thereof, the alley, 10 feet wide, at the rear of this lot and the lots adjoining it on the west, and also the right to use Dawson Alley, and the right and privilege to build to the walls of the buildings erected upon Parcel No. 2 hereinbelow and upon the aforesaid land of David Bishop. (No party wall agreement with David Bishop or any of his predecessors-in-title has been found among the Land Records.)
PARCEL NO.2: BEGINNING for the same at the intersection of Dover and Harrison Streets in said Town, and at the Northwest corner thereof, thence with the westerly side of Harrison Street Northerly 116 feet (from the curb line of Dover Street) to the property of Mary B. Seiter, et al. (Liber 1655, page 619), thence with the Southerly line of said Seiter property 30 feet to the second alley above mentioned and thence with the easterly line of said alley and the easterly line of Parcel No. 1 and parallel with Harrison Street, to the northerly side of Dover Street, thence with the northerly side of Dover Street easterly to the place of beginning.
SAVE AND EXCEPT for any portion of the above described property as may lie within the bed of any street or sidewalk.
TERMS OF SALE: A cash deposit or certified check of $90,000.00 shall be paid at the time and place of sale, balance in cash at settlement, which shall be 20 days after final ratification of the sale by the Circuit Court for Talbot County, unless said period is extended by the Substitute Trustees for good cause shown, time being of the essence; interest at the rate of 6% per annum shall be paid on the unpaid purchase price from date of sale to date of settlement. 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 Substitute Trustees are unable to convey good and merchantable title, purchaser’s sole remedy shall be limited to a refund of the deposit and cancellation of the sale. In the event the purchaser fails to go to settlement as required, the property will be resold at purchaser’s risk and expense. Purchaser consents to the personal jurisdiction of the Maryland Courts. The property is sold in an "AS IS" condition and subject to covenants, conditions, restrictions, by-laws and plats, and utility agreements of record, if any, affecting the property.
Taxes, municipal water and sewer charges, and all other public charges and assessments shall be prorated as of the date of sale and assumed thereafter by the purchaser. All quantities of land are "more or less," without survey or warranty. Information contained herein is believed accurate but is without warranty. Costs of all recording fees, transfer taxes, document preparation and title examination and insurance shall be borne by purchaser, i.e., contrary to those provisions of the Maryland law which would, in the absence of this stipulation, require that recording and transfer taxes be divided equally between the seller and the buyer.
In the event that any portion of the property is subject to a current lease, neither the Trustees nor the secured party will be responsible for security deposits. Neither the Trustees, the Secured Party or the Auctioneer will be responsible for any Federal or State environmental violations, if any exist, and the purchaser is responsible for, and the property is sold subject to, any environmental matter or condition, whether latent or observable.
Alexis E. Kramer
John F. Hall
Substitute Trustees
410-822-1988
A. Curtis Andrew
Auctioneer