SUBSTITUTED TRUSTEE’S SALE
OF

Valuable Leasehold Dwelling Property
Known as

502 S. Bouldin Street,
Baltimore, Maryland 21224
 

Under and by virtue of the power of sale contained in a Deed of Trust dated June 9, 2003, from Jane Belt to Pamela B. Tatum and Marylin L. Long, as Trustees, and SunTrust Bank, as Beneficiary, recorded among the Land Records of Baltimore City, Maryland, in Liber 4175, folio 495, as modified by the Modification of Deed of Trust, dated April 14, 2005, and recorded among the Land Records of Baltimore City, Maryland, in Liber 6546, folio 639, which was given to secure a loan on the property described therein, and default having occurred under the terms and conditions thereof, the undersigned Trustee will sell at public auction

at the main entrance of the Courthouse for the Circuit Court for Baltimore City, 100 N. Calvert Street, Baltimore, Maryland, on
 

MONDAY, MARCH 31, 2008
AT 10:00 AM
 

All that leasehold lot of ground and the improvements thereon situate in BALTIMORE CITY, State of Maryland and described as:
 

Beginning for the same on the west side of Bouldin Street at the distance of 173 feet northerly from the northwest corner of Fleet Street (formerly Canton Avenue) and Bouldin Street and at the center of the partition wall there being; and running thence northerly bounding on the west side of Bouldin Street 13 feet one inch to the center of another partition wall there being; thence westerly through said wall and continuing the same course parallel with Fleet Street in all 70 feet to the east side of an alley ten feet wide there situate; thence southerly bounding on the east side of said alley with the use thereof in common 13 feet one inch and thence easterly through the center of said first mentioned partition wall and continuing the same course parallel with Fleet Street in all 70 feet to the place of beginning.  The improvements thereon being known as No. 502 South Bouldin Street.
 

The property will be sold in “as is” condition, subject to any and all covenants, conditions, restrictions, easements, rights of redemption and other encumbrances, whether or not of record, and with no warranties.
 

Terms of Sale: A deposit of Five Thousand Dollars ($5,000.00) will be required of the purchaser in the form of certified or cashier’s check on the day of sale.  The Beneficiary of the Deed of Trust, if a bidder, shall not be required to make a deposit.  The property is subject to an annual ground rent of $96.00 payable on the 1^st days of May and November each and every year.  The property is also subject to an existing first mortgage in favor of SunTrust Mortgage, Inc., having an original principal balance of $72,000.00, which the successful bidder will pay in full at settlement.  Interest at the rate of ten percent (10%) per annum shall be paid on the unpaid purchase price from the date of sale to the date of settlement if the property is purchased by someone other than the Beneficiary.  The balance of the purchase price shall be paid in cash within fifteen (15) days of final ratification of the sale by the Circuit Court for Baltimore City, time being of the essence. If compliance with the terms of sale does not take place within fifteen (15) days after final ratification, the Trustee may declare the deposit forfeited and resell the property at the risk and expense of the defaulting purchaser.  All past due property taxes and ground rent payments shall be paid by the purchaser.  All other public charges or assessments, including water and sewer charges, ground rent, condominium/HOA dues, whether incurred prior to or after the sale, shall be paid by the purchaser.  The costs of all recordation and transfer taxes, any agricultural use or transfer tax, and any and all other settlement costs incident to the recording of the deed to the purchaser shall be borne by the purchaser.
 

The Trustee reserves the right to reject any and all bids in his sole and absolute discretion and to extend the settlement date.  Purchaser assumes the risk of loss to the property immediately after sale and shall be solely responsible for obtaining possession of the property.
 

Conveyance of the property shall be by substitute trustee’s deed, without covenant or warranty, express or implied, unless otherwise required by statute, court rule or the Deed of Trust. If for any reason the Trustee is unable to convey title, the purchaser’s sole remedy at law and equity shall be limited to the refund of the deposit to the purchaser.  Upon refund of the deposit, the sale shall be null and void and have no further force and effect, and the purchaser shall have no claim against the Trustee, Beneficiary, or Auctioneers.
 

The information contained herein was obtained from sources deemed to be reliable, but is offered for information purposes only.  The Trustee, Beneficiary and Auctioneers make no representations or warranties with respect to the accuracy of this information, and the purchaser waives and releases the Trustee, Beneficiary and Auctioneers from any and all claims the purchaser or purchaser’s successors or assigns may now have or may have in the future relating to the condition of the property, including, but not limited to, the environmental condition thereof. This advertisement, as amended or supplemented by any oral announcements during the conduct of the sale, constitutes the entire terms upon which the property shall be offered for sale.
 

MATTHEW A. EGELI,
Substitute Trustee

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