MILES & STOCKBRIDGE P.C. 30 West Patrick Street, Suite 600 Frederick, Maryland 21701 (301) 662-5155 SUBSTITUTE TRUSTEE’S SALE OF VALUABLE FEE SIMPLE PROPERTY 100 MAPLEHURST ROAD, FROSTBURG, MARYLAND 21532 Under a power of sale contained in a certain Deed of Trust, Assignment of Rents and Leases, Security Agreement and Financing Statement dated September 11, 2014 (the “Deed of Trust”), made by Maplehurst Country Club, Inc. (the “Debtor”), in favor of James P. Donahue, Jr., as trustee, for the benefit of DLR Southwest Investments, LLC (“Lender”), recorded among the Land Records of Allegany County (the “Land Records”) at Liber 2081, folio 389, the Lender having appointed Kendall A. Camuti, as Substitute Trustee under the Deed of Trust, by a certain Deed of Removal of Trustee and Appointment of Substitute Trustee, dated May 17, 2018 and recorded among the Land Records as Liber 2384, folio 468, and default having occurred under the terms of the Deed of Trust, at the request of the party secured by the lien of the Deed of Trust, the undersigned Substitute Trustee will offer for sale at: PUBLIC AUCTION AT THE ALLEGANY COUNTY CIRCUIT COURT HOUSE 30 WASHINGTON STREET, CUMBERLAND, MARYLAND 21502 WEDNESDAY, AUGUST 15, 2018 AT 12:00 P.M. All of the property described in the Deed of Trust, located in Allegany County, and more particularly described as follows (collectively, the “Property”): 1. REAL PROPERTY DESCRIPTION (the “Real Property”): ALL that piece or parcel of ground situated and lying and bordering along the westerly side of relocated Route No. 36 and the easterly side of Route No 36, Frostburg, District No 12, Allegany County, Maryland and being more particularly described as follows (meridian from deed Liber No. 490, Folio No. 825 and horizontal measurements being used throughout) to wit: BEGINNING for the same at a point on the easterly right-of-way margin of relocated Route No. 36, said point also marks the end of the 30th line of the “Frostburg Industrial Park and Nursing Home Tract”, Annexation Resolution No. 15 recorded August 9, 1976 among the land records of Allegany County, Maryland. Thence crossing relocated Route No. 36: 1. North 61 degrees 29 minutes 36 seconds West, 300 00 feet to a point on the westerly right-of-way margin of relocated Route No. 36, said point also being located on the 2nd line of a deed dated April 1, 1977 The Maryland Coal & Realty Company to The Maplehurst Country Club, Inc. recorded in deed Liber No. 492, Folio No 289 one of the land records of Allegany County, Maryland. Thence, with and binding on the westerly right-of-way margin of relocated Route No 36, and also with and binding on a pan of the 2nd line reversed of said above mentioned parcel; 2. 68.43 feet along the arc of a curve to the right to a point, said curve having a delta angle of 01 degrees 86 minutes 39 seconds and a radius of 2714.79 feet and being subtended by a chord which bears South 29 degrees 18 minutes 11 seconds West, 68.43 feet, said point also marks the end of the 1st line of the above mentioned parcel described in deed Liber No. 492, Folio No. 289. Thence, with and binding on the westerly right-of-way margin of relocated Route No. 36 for the next two courses and distances; 3. 1082.47 feet along the arc of a curve to the right to a point, said curve having a delta angle of 22 degrees 50 minutes 44 seconds and a radius of 2714.79 feet and being subtended by a chord which bears South 41 degrees 22 minutes 13 seconds West, 1075.30 feet, thence; 4. South 52 degrees 59 minutes 13 seconds West, 595.45 feet to a point which marks the beginning of the 2nd line of a deed dated June 4, 1984 Robert Prichard, et at. to The Maplehurst Country Club, Inc. recorded in deed Liber No. 545, Folio No 335 one of the aforesaid land records, said point also being located on the 16th line of a deed dated March 31, 1955 Mabel W Arnold, et al. to The Maplehurst Country Club, Inc. recorded in deed Liber No. 275, Folio No. 143 one of the aforesaid land records, thence, continuing with the westerly right-of-way margin of relocated Route No. 36 for the next three courses and distances and also with and binding on the entire 2nd, 3rd, and 4th lines of the above mentioned deed recorded in deed Liber No 545, Folio No. 335; 5. South 52 degrees 52 minutes 13 seconds West, 177 16 feet to a point, thence; 6. South 50 degrees 22 minutes 44 seconds West, 179 08 feet to a point, thence; 7. South 47 degrees 31 minutes 59 seconds West, 5.23 feet to a point, thence, leaving the westerly right-of-way margin of relocated Route No 36 and with and binding on the entire 5th, 6th, 7th and 8th lines of deed Liber No. 545, Folio No. 335; 8. North 68 degrees 53 minutes 00 seconds West, 451.82 feet to a point, thence; 9. North 38 degrees 24 minutes 52 seconds East, 110 42 feet to a point, thence; 10. North 33 degrees 09 minutes 23 seconds East, 129 45 feet to a point, thence; 11. North 27 degrees 54 minutes 10 seconds East, 80 09 feet to a point on the 16th line of the above mentioned deed recorded in deed Liber No. 275, Folio No. 143, thence, reversing and binding on same; 12. North 68 degrees 53 minutes 00 seconds West, 1407.00 feet to a point which marks the beginning of a deed dated January 10, 1977 The Maryland Coal & Realty Company to The Maplehurst Country Club, Inc. recorded in dead Liber No, 490, Folio No. 825 one of the aforesaid land records, thence, with and binding on the entire 1st through the 17th lines of said deed recorded in deed Liber No. 490. Folio No. 825 for the next seventeen courses end distances; 13. South 30 degrees 20 minutes 00 seconds West, 517 80 feet to a point, thence; 14. North 60 degrees 09 minutes 00 seconds West, 392.69 feet to a point, thence; 15. North 25 degrees 16 minutes 56 seconds East, 109.47 feet to a point, thence; 16. North 76 degrees 09 minutes 17 seconds West, 280 27 feet to a point, thence; 17. South 33 degrees 15 minutes 40 seconds West, 31 49 feet to a point, thence; 18. North 60 degrees 03 minutes 55 seconds West, 228.14 feet to a point, thence; 19. North 30 degrees 52 minutes 32 seconds East, 103 95 feet to a point, thence; 20. North 60 degrees 08 minutes 57 seconds West, 172 10 feet to a point on the easterly side of Route No. 36, thence, with and binding on same for the next two courses and distances; 21. North 43 degrees 37 minutes 14 seconds East, 435 64 feet to a point, thence; 22. North 29 degrees 10 minutes 15 seconds East, 45.69 feet to a point, thence, leaving the easterly side of Route No 36; 23. South 60 degrees 31 minutes 45 seconds East, 160 43 feet to a point, thence; 24. North 29 degrees 10 minutes 15 seconds East, 49 88 feet to a point, thence; 25. South 60 degrees 27 minutes 43 seconds East, 39.92 feet to a point, thence; 26. South 60 degrees 27 minutes 43 seconds East 174 89 feet to a point, thence; 27. South 60 degrees 27 minutes 43 seconds East, 375.03 feet to a point, thence; 28. South 29 degrees 16 minutes 00 seconds West, 15.61 feet to a point, thence; 29. South 60 degrees 26 minutes 40 seconds East, 156 91 feet to a point on the 3rd line of a dead dated August 15, 1960 William S. Jenkins, et ux, et al to The Maplehurst Country Club, Inc. recorded in deed Liber No. 325, Folio No. 506 one of the aforesaid land records, thence, with and binding on a part of said 3rd and 4th lines; 30. North 30 degrees 20 minutes 00 seconds East, 1004.50 feet to a point, thence; 31. South 61 degrees 30 minutes 00 seconds East, 24.00 feet to a point which marks the end of the 13th line of the above mentioned deed recorded in deed Liber No. 275, Folio No 143, thence, with and binding on said entire 13th line reversed; 32. North 26 degrees 36 minutes 00 seconds East, 198 00 feet to a point which marks the beginning of the 3rd line or a deed dated December 1, 1966 Donald J. Sine, et ux to Herbert F. Crawford, et ux recorded in deed Liber No 402, Folio No. 554 one of the aforesaid land records, thence, with and binding on said entire 3rd line and also with and binding on the entire 3rd line and also with and binding on the entire 3rd line of a deed dated November 4, 1953, Jesse C. Fuller, et ux. et al to William A. Plummer, et ux recorded in deed Liber No 254, Folio No 474 one of the aforesaid land records; 33. North 31 degrees 46 minutes 00 seconds East, 231.12 feet to a point which marks the end of the 2nd line of a deed dated December 12, 1984 Maplehurst Country Club, Inc. to McCaffrey J Smith, et ux recorded in deed Liber No. 546, Folio No. 89 one of the aforesaid land records, thence, with and binding on said entire 2nd line reversed; 34. North 26 degrees 52 minutes 13 seconds East, 139.47 feet to a point on the southerly side of an existing roadway leading to the Maplehurst Country Club, thence, crossing said roadway; 35. Northeasterly 35 feet, more or less, or until said line intersects the end of the 2nd line of a deed dated May 7, 1973 Maplehurst Country Club, Inc. to Leland H. Folk, et ux recorded in deed Liber No 467, Folio No. 862 one of the aforesaid land records, thence, with and binding on said entire 2nd line reversed and also the entire 2nd line reversed of a deed dated August 11, 1973 Maplehurst Country Club, Inc. to Leland H. Folk, et ux recorded in deed Liber No 467, Folio No 866 one of the aforesaid land records and also with an binding on a part of the 2nd line reversed of the first parcel of a deed dated April 20, 1982 John K. Stewart, el ux to E Wayne Miller, et ux recorded in deed Liber No. 528, Folio No 164 one of the aforesaid land records, thence; 36. North 30 degrees 41 minutes 06 seconds East, 315.42 feet to a point, thence, with and binding on the entire 3rd line reversed of the 2nd parcel of the above mentioned deed recorded in deed Liber No 528, Folio No. 164; 37. South 53 degrees 05 minutes 54 seconds East, 167 55 feet to a point thence, with and binding on the entire 2nd line of said 2nd parcel reversed and also with and binding on the entire 9th, 8th, 7th, 6th, 5th, and part of the 4th lines reversed of the above mentioned deed recorded in deed Liber No. 275, Folio No 143; 38. North 53 degrees 54 minutes 06 seconds East, 162.50 feet to a point, thence; 39. South 53 degrees 05 minutes 54 seconds East, 524 00 feet to a point, thence; 40. South 71 degrees 20 minutes 54 seconds East, 181 50 feet to a point, ; 41. North 26 degrees 24 minutes 06 seconds East, 65.00 feet to a point, thence; 42. South 22 degrees 35 minutes 54 seconds East, 78.00 feet to a point, thence; 43. South 54 degrees 45 minutes 54 seconds East. 1095.71 feet to a point which marks the end of the 4th line of the above mentioned deed recorded in deed Liber No. 492, Folio No 289, thence, with and binding on the entire 4th and 3rd lines reversed of same: 44. North 25 degrees 06 minutes 08 seconds East, 314.58 feet to a point, thence; 45. South 68 degrees 29 minutes 14 seconds East, 400.00 feet to a point on the westerly right-of-way margin of relocated Route No. 36, thence, crossing relocated Route No 36; 46. South 68 degrees 29 minutes 14 seconds East 300.00 feet to a point on the easterly right-of-way margin of relocated Route No. 36, 368.19 feet along the 31st line of Annexation Resolution No 15 "Frostburg Industrial Park and Nursing Home Tract" previously mentioned in the above description. Said above described parcel contained 117.50 acres, more or less, all of the above described Annexation No 29 is more particularly shown on a plat entitled “Annexation Map, City of Frostburg, dated April 20, 1987." Excepting therefrom the following off conveyances: 1. A conveyance of 20,464 square feet to J. Stewart et ux by deed dated May 7, 1973 and recorded among the Land Records for Allegany County, Maryland in Deeds Liber 462, page 687- Lot 1. 2. A conveyance of Lot 3 to Leland Folk, et ux., by deed dated May 7, 1973 and recorded among the Land Records for Allegany County, Maryland in Deeds Liber 467, page 862. 3. A conveyance of Lot 2 to Leland Folk, et ux., by deed dated August 11, 1973 and recorded among the Land Records for Allegany County, Maryland in Deeds Liber 467, page 866. 4. A conveyance of 11.866 acres to the State Highway Administration by deed dated July 3, 1974 and recorded among the Land Records for Allegany County, Maryland in Deeds Liber 473, page 215. 5. A conveyance of .12 acres to J. Stewart by deed dated December 12, 1978, and recorded among the Land Records for Allegany County, Maryland in Deeds Liber 505, page 719. 6. A conveyance of 4398 square feet to M.J. Smith, et ux., by deed dated December 12, 1984, and recorded among the Land Records for Allegany County, Maryland in Deeds Liber 546, page 890. 7. A conveyance of 1.85 acres to ATB by deed dated November 3, 2005, and recorded among the Land Records for Allegany County, Maryland in Deeds Liber 1208, page 106. TOGETHER WITH: 2. PERSONAL PROPERTY DESCRIPTION (the “Personal Property”): ALL IMPROVEMENTS, FIXTURES, FURNITURE, EQUIPMENT, AND OTHER PERSONAL PROPERTY of the Debtor that is located on or about the above-described Real Property and that is subject to the security interest and lien of the Lender and not owned by any third party, or subject to a security interest senior to that of the Lender. The foreclosure sale advertised herein has been docketed in the Circuit Court for Allegany County, Maryland (Civil Case No. C-01-CV-18-000284). The Property will be sold SUBJECT TO, among other things: (a) all liens except those subordinate to the Deed of Trust, and all covenants, conditions, restrictions, encumbrances, easements, rights-of-way, matters, and limitations of record affecting the Property, if any; (b) any matters or state of facts which could be ascertained by a physical inspection of the Property or which would be shown on an accurate survey of the Property; (c) the rights, if any, of persons in possession of all or any part of the Property under recorded or unrecorded leases or occupancy agreements; (d) existing housing, building, subdivision and zoning code violations, if any; and (e) all environmental conditions which may exist, including without limitation asbestos, underground storage tanks, or radon gas concentrations. DESCRIPTION OF PROPERTY The Real Property is comprised of approximately 104.13 acres, located at 100 Maplehurst Road, and is improved with an approximately 5,542 square foot club house and an 18-hole golf course. The Real Property and all Personal Property will be offered as an entirety. CONDITIONS OF SALE The Property and all parts thereof are being sold “AS IS, WHERE IS,” and neither the Substitute Trustee, the party secured by the Deed of Trust, nor the auctioneer, make any warranty or representation, either express or implied, of any kind or character, including, without limitation, with respect to (i) any aspects of the physical condition of the Property or any part thereof; (ii) subdivision, zoning or use of the Property or any part thereof; (iii) leases or rents or security deposits given therefor, if any; (iv) present to future contract rights, accounts receivable, general intangibles, licenses, chattel paper, guaranties, proceeds of insurance, instruments, deposits, fees, rents, issues, profits, or receipts, if any; or (v) the environmental condition of the Property or any part thereof. Neither the Substitute Trustee, nor the party secured by the Deed of Trust, nor any other party, guarantees or covenants to deliver or in any way obtain possession of any part of the Property or security deposits for the purchaser. TERMS OF SALE This advertisement, as amended or supplemented by any oral announcements during the conduct of the sale, constitutes the Substitute Trustee’s entire terms upon which the Property shall be offered for sale, sold or purchased. The Substitute Trustee reserves the unqualified right to withdraw the Property at any time before the sale. If the Substitute Trustee determines that a final bid is not commensurate with the value of the Property which is the subject of the bid, they may reject the bid and withdraw the Property, which is the subject of the bid, from sale. The highest bidder acknowledged by the Substitute Trustee shall be the purchaser. If any dispute arises among the bidders, the Substitute Trustee shall have the sole and final discretion either to determine the successful bidder or to reoffer and resell the Property. Prior to the commencement of the foreclosure sale, a cashier’s check or certified check of One Hundred Thousand Dollars ($100,000.00) payable to the Substitute Trustee shall be required from each bidder, other than a bidder on behalf of the party secured by the Deed of Trust or its agents, assigns, or subsidiaries. All deposits will be returned immediately after the sale except the deposit of the successful bidder of the Property. The deposit of the successful bidder will be applied to the purchase price at settlement. The Substitute Trustee shall also require execution of a Contract of Sale immediately upon completion of the sale. The purchaser, if other than the party secured by the Deed of Trust, its successors or assigns, shall be required to increase its deposit to an amount equal to ten percent (10%) of the bid price, payable by cashier’s or certified check or immediate funds wire transfer to the Substitute Trustee within seventy-two (72) hours after the sale. The balance of the purchase price, together with interest on such balance at a rate of ten percent (10%) per annum, from the date of sale, must be paid by immediate funds wire transfer on the date of settlement. In the event that settlement is delayed for any reason or the balance of the purchase price or any portion thereof is tendered prior to the date of settlement, there shall be no abatement of interest. In the event that the beneficiary under the Deed of Trust, or an affiliate or subsidiary thereof, is the successful bidder at the sale, such party will not be required to deliver a deposit to the Trustees or to pay interest on the unpaid purchase money. All state and local ad valorem real estate taxes, other public charges, regular and special assessments, and the like shall be adjusted to the date of sale and thereafter assumed by the purchaser(s). All collected rent net of all expenses and other collected income net of all expenses shall be adjusted as of the date of sale. The purchaser shall pay all state and local transfer taxes, recordation taxes and fees, title examination costs, purchasers’ attorneys’ fees, conveyancing fees, notary fees, and all other incidental settlement costs. The purchaser at foreclosure sale shall assume all risk of loss for the Property purchased immediately after the sale takes place. Neither the Substitute Trustee nor the Lender shall have any obligation to obtain or maintain any insurance coverage with respect to the Property. The purchaser(s) shall settle and comply with the sale terms within twenty (20) days following final ratification of sale by the Circuit Court for Allegany County, unless said period is extended by the Substitute Trustee for good cause shown. Settlement shall be held at the offices of Miles & Stockbridge P.C., 30 West Patrick Street, Suite 600, Frederick, Maryland 21701. TIME IS OF THE ESSENCE IN THE PERFORMANCE OF ALL OF THE TERMS HEREOF. If the Substitute Trustee is unable to convey the Property as described, the purchaser’s sole remedy at law or in equity shall be limited to the refund of the aforementioned deposit. 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 Substitute Trustee, the auctioneer, or the party secured by the Deed of Trust, or their respective successors, assigns or affiliates. If the purchaser defaults, in addition to any other legal or equitable remedies available to him, the Substitute Trustee may declare the entire deposit forfeited and resell the Property at the risk and cost of the defaulting purchaser. 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. 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. The contract of sale between the Substitute Trustee, as seller, and the purchaser (the “Contract of Sale”) includes, by reference, all the terms and conditions contained herein, specifically including, but not limited to, the following provisions: “Purchaser agrees and represents that the Purchaser is purchasing the Property subject to all matters known and unknown, in “AS IS, WHERE IS” condition, with all faults. In executing and delivering the Contract of Sale, Purchaser acknowledges and agrees that Purchaser has not relied upon nor been induced by any statements or representations of any person, including the Substitute Trustee, the secured party under the Deed of Trust, or any of their respective affiliates or representatives, in respect of the condition of the Property, including the environmental condition of the Property, unless such representations or statements are specifically set forth in the Contract of Sale. Purchaser has not relied on anything in the foreclosure advertisement, but rather has relied solely on such investigations, examinations, or inspections of the Property as Purchaser has made. Purchaser hereby releases the Substitute Trustee, the secured party under the Deed of Trust, and their respective affiliates, representatives, heirs, personal and legal representatives, agents, employees, successors and assigns (collectively, “Released Parties”), from any and all claims the Purchaser or its successors and assigns may have now or in the future may have relating to the condition of the Property, all of such claims being hereby waived by Purchaser. Purchaser acknowledges and agrees that this provision was a negotiated part of the Contract of Sale and serves as an essential component of consideration for the same. The parties specifically acknowledge and agree that this clause bars all claims by Purchaser against Released Parties, arising from the condition of or releases from the Property pursuant to the Comprehensive Environmental Response, Compensations and Liability Act of 1980, as amended, and all other actions pursuant to federal, state or local laws, ordinances or regulations for any environmental condition of or releases from the Property. Purchaser agrees to indemnify Substitute Trustee for any liability he may have to any third party for any environmental condition of the Property. Notwithstanding the parties’ intent that this clause bars all such claims, should a court of competent jurisdiction deem otherwise, Purchaser agrees that the presence of this clause should serve as the overwhelming, primary factor in any equitable apportionment of response costs under applicable federal, state or local laws, ordinances, or regulations.” The information contained herein was obtained from sources deemed to be reliable but is offered for informational purposes only. The Substitute Trustee, Auctioneer and the secured party do not make any representations or warranties with respect to the accuracy of this information. For further information regarding the sale and the Property, please contact the offices or visit the website of the Auctioneer. Kendall A. Camuti, Substitute Trustee Miles & Stockbridge P.C. 30 West Patrick Street, Suite 600 Frederick, Maryland 21701 (301) 662-5155 ALEX COOPER AUCTS., INC. 908 YORK RD., TOWSON, MD 21204 410-828-4838 AD V– JUL. 30 & AUG. 6, 13, (Maplehurst 100 Legal Ad) (Serial #495387)
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