TRUSTEE'S SALE
OF
 
VALUABLE IMPROVED FEE SIMPLE PROPERTY

   3159 Ravenwood Avenue
   Baltimore, Maryland 21213 

By virtue of the power and authority contained in a Deed of Trust and Security Agreement dated October 19, 2006 and recorded in Liber 8608, folio 493, among the :Land Records of Baltimore City and at the request of the party secured thereby, default having occurred in the terms and conditions thereof, the undersigned, as Substitute Trustees for the Trustees named in said Deed of Trust, will sell at public auction on:

September 27, 2007
at 11:00 A.M.

In front of the Courthouse for the City of Baltimore, Maryland, at the Courthouse door, Clarence M. Mitchell Courthouse, Calvert Street entrance, Baltimore, Maryland, the following property:


3159 Ravenwood Avenue, City of Baltimore, Maryland, and as more particularly described in the Deed of Trust.

TAX NO.: 08-26-4178-037

SUBJECT TO any unpaid water and sewer charges, building or housing violations, easements, agreements, restrictions, terms, rights of way, covenants, conditions, if any, affecting subject property, whether or not of record.

The property is improved by a DWELLING

Terms of Sale
 

The property will be sold in "AS IS" condition.
A deposit of Ten Thousand Dollars ($10,000.00) will be required at the time of sale, such deposit to be by Bank Cashier's check, or in such other form as the Trustees may determine, in their sole discretion. The balance in cash, with interest at the rate charged in the promissory note securing said Deed of Trust from the date of sale to the date of settlement shall be payable within ten (10) days after final ratification of sale. TIME IS OF THE ESSENCE FOR THE PURCHASER.
 

The purchaser shall be responsible for obtaining possession of the property and shall assume the risk of loss or damage to the property as of the date of the foreclosure sale. In the event of delay of Court Ratification of the sale for any reason, there shall be no abatement of interest payable by the purchaser. The purchaser will pay a fee of $350.00 to seller's counsel for settlement documents review, and a document review fee of $500.00 for any requested substitution of purchaser.
 

Adjustment of all taxes, public charges and special or regular assessments, except water and sewer charges, will be made as of the date of sale and thereafter be assumed by the purchaser.
 

Title examination, conveyancing, state revenue stamps, state and county transfer taxes, title insurance and all other costs incident to settlement are to be paid by the purchaser. Conveyance of the property shall be by Substitute Trustees' Deed, without covenant or warranty, express or implied, unless otherwise required by statute, court rule or the Deed of Trust. In the event the Substitute Trustees are unable for any reason to convey title, the purchaser's sole remedy at law or in, equity shall be to request and receive a return of the deposit. Upon return of the deposit, this sale shall be void and of no effect and the purchaser shall have no further claim against the Substitute Trustees.

Compliance with terms of sale shall be made within ten (10) days after final ratification of sale or deposit shall be forfeited to the Trustees for application against all expenses, attorney's fees and the full commission on the sale price of the above-scheduled foreclosure sale. In the event of default, all expenses of this sale (including attorney's fees and the full commission on the gross sale price of this sale) shall be charged against and paid out of the forfeited deposit. The Substitute Trustees may then re-advertise and resell the property at the risk and cost of the defaulting purchaser; or, without reselling the property, the Substitute Trustees may avail themselves off any legal or equitable remedies against the defaulting purchaser.
 

ALAN W. BERNSTEIN,
JEROME I. FELDMAN,
Substitute Trustees

 

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