TRUSTEES' SALE

Of Valuable
IMPROVED INDUSTRIAL REAL ESTATE

Known as:

7902 WALKER MILL DRIVE

CAPITOL HEIGHTS, MARYLAND 20743
 

Under and by virtue of the power of sale contained in certain Deed of Trust, from David W. Horne in favor of Irving L. Kidwell Family Revocable Trust, dated January 23, 2007, being recorded among the Land Records of Prince George's County, MD in Liber 27330 at Folio 072, default having occurred under the terms there under and at the request of the party secured thereby, the undersigned Trustee will offer for sale at Public Auction at:

the Courthouse for the Circuit Court Prince George's County, 14735 Main Street, specifically at the secured entrance of the parking garage that is immediately next to the Bourne Wing/Commissioner's entrance, designated by the presence of the picnic table, Upper Marlboro, MD on:

MONDAY, NOVEMBER 5, 2007
AT 11:00 A.M.
 

          All that property situate and lying in Prince George's County, Maryland and being more particularly described as follows:
 

MEETES AND BOUNDS DESCRIPTION: W.E. DORSEY AND C.D. WHITE PROPERTY, SEAT PLEASANT DISTRICT, PRINCE GEORGE'S COUNTY, MARYLAND.

BEGINNING FOR THE SUBJECT PROPERTY AT AN IRON PIPE SET AT THE NORTHEAST CORNER OF THE W.E. DORSEY AND C.D. WHITE PROPERTY WHICH IS AS DESCRIBED IN A DEED RECORDED IN LIBER 5907 AT FOLIO 420 AMONG THE LAND RECORDS OF PRINCE GEORGE'S COUNTY, MARYLAND AND THENCE WITH THE NORTHWESTERLY LINE OF THE R.D. ROCKS PROPERTY WHICH IS AS DESCRIBED IN A DEED RECORDED IN LIBER 1948 AT FOLIO 248 AMONG THE AFORESAID LAND RECORDS SOUTH 45 DEGREES 1' 00" EAST, 163.17 FEET TO AN IRON PIPE SET AND THENCE WITH THE EXTENDED NORTHEASTERLY LINE OF WESTHAMPTON TOWNHOUSES SUBDIVISION WHICH IS AS RECORDED IN PLAT BOOK NLP 98 AT FOLIO 61 AMONG THE AFORESAID LAND RECORDS SOUTH 44 DEGREES 59' 00" WEST, 435.83 FEET TO AN IRON PIPE SET AND THENCE WITH THE SOUTHEASTERLY RIGHT OF WAY LINE OF WALKER MILL ROAD NORTH 35 DEGREES 34' 00" WEST, 165.41 FEET TO AN IRON PIPE SET AND THENCE WITH THE SOUTHERLIN LINE OF THE A.H. SARGENT PROPERTY WHICH IS AS DESCRIBED IN A DEED RECORDED IN LIBER 5271 AT FOLIO 619 AMONG THE AFORESAID LAND RECORDS  NORTH 44 DEGREES 59' 00" EAST, 408.67 FEET TO THE POINT OF BEGINNING AND CONTAINING 1.5817 ACRES OF LAND MORE OR LESS.

The property is improved with a cape cod with office on 1st floor and apartment on second floor with a 3,000 square foot warehouse and is located on 1.5817 acres, more or less. Zoned Industrial 1.
 

The property will be offered for sale in “AS IS” condition subject to all covenants, easements, rights of ways, restrictions, and agreements of record affecting same, if any, and further subject to Prince George's County Building and Zoning Codes and Critical Areas Regulations, and without any warranty, expressed or implied, as to the condition or description of the property or its improvements.
 

TERMS OF SALE: The property will be sold at the discretion of the Trustee at the end of all bidding. This advertisement, as amended or supplemented by any oral announcements during the conduct of the sale, constitutes the Trustee's entire statement relative to the premises described herein and the terms and conditions upon which such premises shall be offered for sale, sold, or purchased. The property is being sold subject to an existing first mortgage in favor of John Hanson Savings Bank, F.S.B., which was assigned to Presidential Savings Bank, F.S.B. in the principal amount of $175,000.00, which the successful bidder will pay in full at settlement. A deposit of $25,000.00 in Cash, Certified Check, or Cashier’s Check from a responsible banking institution will be required of the purchaser(s) at the time and place of Auction. Should the secured party be the successful purchaser, the secured party and its successors or assigns shall be excused from the aforementioned deposit requirement. The balance of the purchase money, together with interest at the rate of 18% per annum is to be paid in cash, certified check, or cashier’s check within 10 days after Final Ratification of Sale by the Circuit Court for Prince George's County, MD, unless said period is extended by the Trustee, TIME BEING OF THE ESSENCE.  Should the purchaser(s) default, in addition to any other remedies available at law or in equity, the Trustees, at their election, may declare the deposit forfeited and resell the property at the risk and expense of the defaulting purchaser(s). In such event, the defaulting purchaser 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.  Adjustments on all taxes, public charges, and special or regular assessments, if any, which are due and payable on an annual basis will be made as of the date of Auction and thereafter assumed by the purchaser(s).  Title examination, title insurance, land survey, conveyancing, State stamps, transfer taxes and all other costs of incident to the settlement of whatsoever kind or amount shall be paid by the purchaser(s). If the Trustee is unable to convey good and marketable title to the property, the sole remedy of the purchaser(s) shall be limited to the refund of the deposit of the purchaser(s). Upon refund of the deposit, the sale shall be void and of no effect and the purchaser(s) shall have no further claim against the Trustee, his agents, successors, or assigns.
 

The information contained herein was obtained from sources deemed to be reliable, but is offered for information purposes only. The Trustee does not make any representations or warranties with respect to the accuracy of this information.
 

Steven B. Preller
Trustee

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