Maryland, Delaware and DC Foreclosures and Public Notices

MILES & STOCKBRIDGE P.C. 101 Bay Street, Suite 2 Easton, Maryland 21601 410-820-0264 SUCCESSOR TRUSTEES' & SECURED CREDITOR SALE SALE OF VALUABLE COMMERCIAL FEE SIMPLE PROPERTY INCLUDING HOTEL FURNITURE, FIXTURES & EQUIPMENT IMPROVED BY PREMISES KNOWN AS 101 HOTEL PLAZA NORTH EAST, MD 21901 (CURRENTLY OPERATED AS "HOLIDAY INN EXPRESS & SUITES NORTH EAST") _______________________________________ Under a power of sale contained in a certain Indemnity Deed of Trust, Assignment and Security Agreement from Eleven Willow Court, Inc. to Raymond W. Hamm, Jr., dated October 31, 2008, and recorded among the Land Records for Cecil County in Liber 2561, folio 662, which was assigned to Stabilis Fund II, LLC by an Assignment of Deed of Trust and Other Documents dated December 28, 2011, and recorded among the Land Records of Cecil County in Liber 3146, folio 276, default having occurred under the terms thereof and at the request of the parties secured thereby (Civil Case No. 07-C-13-000661), the undersigned Successor Trustees will offer for sale at public auction at the 101 Hotel Plaza, North East, Maryland 21901 on: JUNE 4, 2013 AT 1:00 P.M. PROPERTY DESCRIPTION: All those two contiguous lots of ground situate in Cecil County, Maryland together with any and all improvements thereon and being more particularly described as follows: PARCEL ONE: (Leslie Road, North East, Maryland 21901; Tax ID 05-097045): All that lot or parcel of ground situate and lying in the Town of North East in the Fifth Election District of Cecil County, State of Maryland, lying on North Leslie Road and containing 1.581 acre, more or less. Being the same and all of that property which by fee simple dated May 11, 1999 and recorded among the Land Records of Cecil County in Liber W.L.B. No. 804, folio 499, was granted and conveyed by to Eleven Willow Court, Inc. (Parcel One). PARCEL TWO: (101 Hotel Plaza, North East, Maryland 21901; Tax ID 05-096596): All that lot or parcel of ground situate and lying in the Town of North East in the Fifth Election District of Cecil County, State of Maryland, lying on Maryland Route No. 272 and containing 1.105 acres, more or less. The improvements thereon being known as No. 101 Hotel Plaza. Being also the same and all of that property which by fee simple deed dated May 24, 1999 and recorded among the Land Records of Cecil County in Liber W.L.B. No. 808, folio 379, was granted and conveyed by PNC Bank, Delaware, to Eleven Willow Court, Inc. (Parcel Two). Hereinafter, Parcel One and Parcel Two shall be collectively referred to as the "Property". The Property is improved by a 43,087 square foot, more or less, four-story commercial building, believed to be a 71 room hotel constructed in 2003 and updated in 2010, with access to I-95, and currently operated as Holiday Inn Express & Suites North East. The zoning is believed to be HC-Highway Commercial. The property will be sold in "as is" condition and subject to conditions, restrictions, easements, encumbrances and agreements of record affecting the subject property, if any, and with no warranty of any kind. HOTEL FURNITURE, FIXTURES & EQUIPMENT: Pursuant to Financing Statement and Security Agreement by Eleven Willow Court, Inc. ("Debtor") recorded among the Financing Statement Records of the Maryland State Department of Assessments and Taxation in ID #1000361997205392, File #181356974, (work order #0001646746); default occurred thereunder, Stabilis Fund II, LLC (the "Secured Creditor") will sell at public auction all of the tangible and intangible assets of the Debtor more particularly described in the Financing Statement. Terms of Sale: FOR REAL PROPERTY, SOLELY: A deposit in the form of cashier's or certified check, or in such other form as the Successor Trustees may determine, at their sole discretion, for $450,000.00 at the time of sale. If the noteholder is the successful bidder, the deposit requirement is waived. The balance of the purchase price is to be paid within fifteen (15) days of the final ratification of the sale by the Circuit Court for Cecil County, Maryland. TIME IS OF THE ESSENCE FOR THE PURCHASER. Interest is to be paid on the unpaid purchase price at the rate of 5.95% per annum from the date of sale to the date the funds are received in the office of the Successor Trustees, if the property is purchased by an entity other than the noteholder. There will be no abatement of interest due from the purchaser in the event settlement is delayed for any reason. All past due property taxes shall be paid by the purchaser. Adjustment of all other public and/or private charges or assessments, including water/sewer charges, will be made as of the date of sale and thereafter assumed by the purchaser. All other public and/or private charges or assessments, including water/sewer charges, incurred after the sale, and all other costs incidental to settlement to be paid by the purchaser. Cost of all documentary stamps, transfer taxes, and all settlement charges shall be borne by the purchaser. If the Successor Trustees are unable to convey good and marketable title, the purchaser's sole remedy in law or equity shall be limited to the refund of the deposit to the purchaser. Upon refund of the deposit, the sale shall be void and of no effect, and the purchaser shall have no further claim against the Successor Trustees. If purchaser defaults under these terms, the deposit shall be forfeited. The Successor Trustees may then resell the property at the risk and cost of the defaulting purchaser. The defaulting purchaser shall not be entitled to any surplus proceeds resulting from said resale even if such surplus results from improvements to the property by said defaulting purchaser. The purchaser waives and releases the Successor Trustees, the Lender, the Auctioneer and each of their respective agents, successors and assigns from any and all claims the purchaser and/or its successors and assigns may now have or may have in the future relating to (1) any environmental condition, problem or violation affecting all or any portion of the Property, (2) any structural or other defects relating to any improvements on the Property (if any), and/or (3) any existing or future housing, building and/or zoning code problems or violations. Purchaser shall be responsible for obtaining physical possession of the property. The purchaser at the foreclosure sale shall assume the risk of loss or damage to the property from the date of sale. TERMS OF SALE for the Hotel Furniture, Fixtures & Equipment if sold independent of the Real Property, Cash or certified check required at time of sale. Purchaser(s) immediate removal required. A 10% buyer's premium will be added to price. All items sold as part of the public auction by the Secured Creditor to any purchaser(s) shall be in an "as is" "where is" condition and with all faults, and without any warranties or representations, either express or implied, from the Secured Creditor, including, but not limited to, warranties of merchantability or fitness for a particular purpose or warranties of title, description, possession, quiet enjoyment or the like. All items sold as part of the public sale will be sold to the purchaser(s) subject to all conditions, liens, encumbrances, charges, restrictions and rights of redemption affecting the same, if any. The purchaser(s) will assume the risk of loss for the personal property, if any, from date of sale. All sales are final. TERMS OF SALE for the Hotel Furniture, Fixtures & Equipment if sold as an entirety with the Real Property, in addition to the terms of sale for the Real Property, including but not limited to the $450,000.00 deposit required thereby, an additional deposit of $10,000.00 will be required at the time of sale, such deposit to be in cash or certified check, or other form acceptable to the Secured Party in their sole discretion. Balance of the purchase price is to be paid in cash at the time of settlement on the Real Property All items sold as part of the public auction by the Secured Creditor to any purchaser(s) shall be in an "as is" "where is" condition and with all faults, and without any warranties or representations, either express or implied, from the Secured Creditor, including, but not limited to, warranties of merchantability or fitness for a particular purpose or warranties of title, description, possession, quiet enjoyment or the like. All items sold as part of the public sale will be sold to the purchaser(s) subject to all conditions, liens, encumbrances, charges, restrictions and rights of redemption affecting the same, if any. The purchaser(s) will assume the risk of loss for the property from date of sale. The information contained herein was obtained from sources deemed to be reliable but is offered for informational purposes only. The Successor Trustees, Auctioneer and the secured party do not make any representations or warranties with respect to the accuracy of this information.     Douglas S. Walker     Ryan D. Showalter,     Successor Trustees     Stabilis Fund II, LLC, Secured Creditor     Miles & Stockbridge, P.C.     101 Bay Street, Suite 2     Easton, MD 21601     410-820-0257 For More Information Contact: Alex Cooper Auctioneers, Inc. 908 York Road Towson, MD 21204 410-828-4838 http://www.alexcooper.com cw 5/17,24,31 2394924