Robert T. Gonzales, Esq.
Hylton & Gonzales, LLC
201 N. Charles St., Ste. 1701
Baltimore, MD 21201
RECEIVER’S SALE OF COMMERCIAL REAL PROPERTY
BELLE ALLIANCE PARCEL CONTAINING APPROXIMATELY 36 ACRES, TAX MAP 13 PARCELS 339 AND 341
The property, being under receivership of Mayfield Associates, LLC (the “Receiver”), pursuant to Consent Order filed November 15, 2010, in Charles County Circuit Court, Case No. 08-C-10-2777, the real party in interest being Cygnus MD, LLC, by Order Substituting Real Party in Interest and Amending Consent Order, dated July 30, 2012, having acquired by assignment the rights to a loan for acquisition and development made by Bank of America to Charles Retreat, LLC, is, under the Order approving Auction of Sale dated December 22, 2020, Charles County Circuit Court, Case No. 08-C-10-2777, hereby offered by Receiver for sale at public auction to the highest qualified bidder at the Charles County Circuit Court house steps on:
April 13, 2021
11:00 AM
ALL OF THAT real property being situate in Charles County, Maryland, and the improvements thereon (collectively, the “Property”), in fee simple, and being more particularly described in the Mortgage.
The Property is comprised of two (2) tax parcels, Tax Map 14, Parcels 339 and 341, in the 6th Election District, Charles County, Maryland.
TERMS OF SALE: A deposit in the amount of Two Hundred Fifty Thousand Dollars ($250,000.00), payable in cash, certified check, or other form acceptable to the Receiver, in its sole and absolute discretion, will be required of the purchaser(s) at the time and place of sale. The deposit must be increased to Five Percent (5%). of the purchase price within five (5) business days and delivered to the office of the auctioneer in the same form as the initial deposit payable in cash, certified check, or other form acceptable to the Receiver, in its sole and absolute discretion. The balance of the purchase price shall be due in cash or by certified check with interest on the unpaid balance of the purchase price at the rate of Six Percent (6%) per annum from the date of sale to and including the date of settlement. In the event the Mortgagee, or an affiliate thereof, is the successful bidder at the sale, such party will not be required to make a deposit or to pay interest on the unpaid purchase money. Taxes, water rent, ground rent, if any, and all other municipal charges and liens owed against the Property shall be the responsibility of the purchaser(s) and shall be paid by the purchaser(s) at settlement. In addition, all other charges, expenses and liens owed against the Property including, but not limited to, all expenses, public charges and assessments owed against the
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Property and payable on an annual basis, such as sanitary and/or metropolitan district charges, if any, shall also be the responsibility of the purchaser(s) and shall be paid by the purchaser(s) at settlement. The Receiver reserves the right to reject any and all bids, and to extend the time for settlement, if applicable. In the event taxes or other municipal charges owing on or with respect to the Property have been prepaid they shall be adjusted at settlement between the Receiver and the purchaser(s) to the date of the foreclosure sale.
The Property will be sold in an “AS IS” condition and without any warranties or representations, either express or implied, as to the nature, condition or description of the improvements. In addition, the Property will also be sold subject to all existing housing, building and zoning code violations, subject to all critical area and wetland violations, subject to all environmental problems and violations which may exist on or with respect to the Property, and subject to all matters and restrictions of record affecting the same, if any. The purchaser(s) at the foreclosure sale shall assume the risk of loss for the above-referenced Property immediately after the sale takes place. It shall be the purchaser(s)’ responsibility to obtain possession of the Property following ratification of the sale by the Circuit Court for Charles County, Maryland.
The Property will be sold subject to all of the following that are not extinguished as a matter of law by the foreclosure sale: all easements, conditions, liens, restrictions, rights of redemption, covenants, encumbrances, ground rents, ground leases, such state of facts that an accurate survey or physical inspection of the Property might disclose, and agreements of record affecting the same, if any.
The purchaser(s) shall pay all documentary stamps, state and local transfer taxes, recordation taxes and fees, title examination costs, attorneys’ fees, conveyance fees and all other incidental settlement costs. The purchaser(s) shall settle and comply with the sale terms within five (5) days following the final ratification of sale by the Circuit Court for Charles County, Maryland, unless said period is extended by the Receiver for good cause shown. Time is of the essence.
In the event the purchaser(s) fails to go to settlement as required, in addition to any other legal or equitable remedies available, the Receiver may, without further order of the court, declare the aforementioned deposit forfeited and resell the Property at the purchaser’s sole risk and expense. In such event, the defaulting purchaser(s) 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. The parties’ respective rights and obligations regarding the terms of sale and the conduct of the sale shall be governed by and interpreted according to the laws of the State of Maryland.
If the Receiver is unable to convey the Property as described above, the purchaser(s)’ sole remedy at law or in equity shall be limited to the refund of the aforementioned deposit, without interest thereon. Upon refund of the deposit to the purchaser(s), the sale shall be void and of no effect, and the purchaser(s) shall have no further claim against the Receiver or the Mortgagee.
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The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only. The Auctioneer, the Mortgagee and the Receiver do not make any representations or warranties with respect to the accuracy of this information.
Jay Gouline, Managing Member
Mayfield Associates, LLC
618 Saint Francis Rd.
Towson, MD 21286
As Receiver for Charles Retreat, LLC
For further information, contact:
Robert T. Gonzales, Esq.
Hylton & Gonzales, LLC
201 N. Charles St., Ste. 1701
Baltimore, MD 21201
[email protected]
443-956-1838
JHL Auctioneers, LLC
2219 York Road, Suite 301
Timonium, Maryland 21093
(410) 424-5456