Auction Details

Auction Dates

Starts: Mon, Mar 2, 2020 11:30AM


100 N. West St. Easton, Maryland 21601

Under a power of sale contained in a certain Indemnity Deed of Trust from JSE Investment Prop- erties, LLC to Queenstown Bank of Maryland dated February 15, 2019, and recorded among the Land Records for Queen Anne’s County, Maryland in Book 3044, page 83, default having occurred under the terms thereof and at the request of the parties secured thereby (Civil Case No. C-17- CV-20-000010), the undersigned Successor Trustees will offer for sale at public auction at the Queen Anne’s County Circuit Court House, 200 N. Commerce Street, Centreville, Maryland 21617 on:

MARCH 2, 2020 AT 11:30 A.M.

ALL that lot or parcel of land situate, lying and being in the Fifth Election District of Queen Anne’s County, State of Maryland, being more particularly designated as Lot No. 28 of Bishop’s Meadow Phase II Subdivision on a set of plats containing six (6) sheets entitled “MAJOR CLUSTER SUBDIVISION BISHOP’S MEADOW PHASE II”, dated June 21, 2006 prepared by Lane Engineering, LLC, recorded among the Plat Records of Queen Anne’s County in Plat Book S.M. No. 46, folio(s) 36A through 36F. The foregoing property consists of approximately 1.262 acres of land, more or less, and is improved by a partially constructed custom home intended to consist of approximately 2,972 square feet of gross living area, more or less.

The property will be sold in “as is” condition and subject to conditions, restrictions, easements, encumbrances and agreements of record affecting the subject property, if any, and with no warranty of any kind. No use and occupancy permit has been issued relating to the property and the Successor Trustees are unaware of any inspections that have been completed of the improvements located on the property.

Terms of Sale: A deposit in the form of a cashier’s or certified check, or in such other form as the Successor Trustees may determine, at their sole discretion, for $25,000.00 at the time of sale. If the noteholder is the successful bidder, the deposit requirement is waived. The balance of the purchase price is to be paid within fifteen (15) days of the final ratification of the sale by the Circuit Court for Queen Anne’s County, Maryland.

TIME IS OF THE ESSENCE FOR THE PURCHASER. Interest is to be paid on the unpaid purchase price at the rate of seven percent (7%) as described in the Promissory Note, per annum, from the date of sale to the date the funds are received in the office of the Successor Trustees, if the property is purchased by an entity other than the noteholder. There will be no abatement of interest due from the purchaser in the event settlement is delayed for any reason. Adjustment of current year real property taxes and other public and/or private charges or assessments, including water/sewer charges, will be made as of the date of sale and thereafter assumed by the purchaser. All other public and/or private charges or assessments, including water/ sewer charges, incurred after the sale, and all other costs incidental to settlement to be paid by the purchaser. Cost of any and all documentary stamps, transfer taxes, agricultural transfer taxes, and all settlement charges shall be borne by the purchaser. If the Successor Trustees are unable to convey good and marketable title, the purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit to the purchaser. Upon refund of the deposit, the sale shall be void and of no effect, and the purchaser shall have no further claim against the Successor Trustees. If purchaser defaults under these terms, the deposit shall be forfeited. The Successor Trustees may then resell the property at the risk and cost of the defaulting purchaser. The defaulting purchaser shall not be entitled to any surplus proceeds resulting from said resale even if such surplus results from improve- ments to the property by said defaulting purchaser. The purchaser shall be responsible for obtaining physical possession of the property. The purchaser at the foreclosure sale shall assume the risk of loss or damage to the property from the date of sale. WAIVERS: The purchaser waives and releases the Successor Trustees, counsel for the Successor Trustees, the secured party, the Auctioneer and each of their respective agents, successors and assigns from any and all claims the purchaser and/or its successors and assigns may now have or may have in the future relating to (1) any environmental condition, problem or violation affecting all or any portion of the property, (2) any structural or other defects relating to any improvements on the property, and/ or (3) any existing or future housing, building, subdivision and/or zoning code or regulation problems or violations. The information contained herein was obtained from sources deemed to be reliable but is offered for informational purposes only. The Successor Trustees, Auctioneer and the secured party do not make any representations or warranties with respect to the accuracy of this information.

Adam M. Lynn
Sarah A. Baugh
Successor Trustees
McAllister, DeTar, Showalter & Walker LLC
100 N. West Street Easton, Maryland 21601
(410) 820-0257

For More Information Contact:
P. Douglas Marshall, Jr.
Marshall Auctions Auctioneer

RO 2/14/21/28 2894293



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