EFFECTIVE 07/06/2021 Sales will now take place at the new Courthouse located at 9250 Judicial Way formerly known as Bendix Road
PLEASE NOTE: In the event that the office building at 5335 Wisconsin Ave is closed, all scheduled Washington, DC sales will take place at the front entrance door of the Chevy Chase Pavilion
Legal Address: 1201 MARYLAND AVENUE SW WASHINGTON DC 20024
Property Geocode: 38.8845686 -77.0293562
Sale Date: 2024-05-21
Sale Time: 11:30 AM
Online Views: 50
SUBSTITUTE TRUSTEES' SALE
OF REAL PROPERTY
COMPRISING A MULTI-TENANT OFFICE BUILDING
1201 Maryland avenue, sw
WASHINGTON, dc 20024
(LOT 42 SQUARE 267)
In execution of the power of sale contained in a Deed of Trust, Assignment of Leases and Rents, Security Agreement, and Fixture Filing (the “Deed of Trust”), dated September 19, 2019, and recorded on September 19, 2019, as Instrument No. 2019100946 with the District of Columbia Recorder of Deeds (the “Recorder of Deeds”), to secure multiple promissory notes in the combined original principal amount of up to $176,962,500.00 (the “Notes”), which Deed of Trust also constitutes a security agreement and creates a security interest in all the fixtures and personal property described therein, defaults having occurred under the Deed of Trust and in the payment of the debts secured thereby, and being instructed to do so by the beneficiary under the Deed of Trust (the “Beneficiary”), and following mailing of a Notice of Foreclosure Sale of Real Property or Condominium Unit, which was recorded with the Recorder of Deeds on April 18, 2024, as Instrument No. 2024036080, and the recordation with the Recorder of Deeds of a Deed of Appointment of Substitute Trustees as Instrument No. 2024014344, and the recordation with the Recorder of Deeds of an Affidavit of Non-Residential Mortgage Foreclosure as Instrument No. 2024014346, the undersigned Substitute Trustees, either of whom may act, will on May 21, 2024, at 11:30 a.m., offer for sale at public auction the real and personal property described below. The auction sale will be held at the office of Harvey West Auctioneers, LLC, 5335 Wisconsin Ave., N.W., Suite 440, Washington, DC 20015.
The real property to be sold includes the land and all buildings, structures, and other improvements thereon (if any), and all leases, rents, issues and profits, and other appurtenant rights associated with the ownership of the land (if any), described as follows:
All that certain lot or parcel of land together with all improvements thereon located and being in the City of Washington in the District of Columbia and being more particularly described as follows:
Lot 42 in the subdivision made by Parcel 47D LLC in Square 267, as per plat recorded in the Office of the Surveyor of the District of Columbia in Book 198 at page 153.
TOGETHER WITH those easements set forth in Declaration of Easements and Covenants of the Portals dated June 28, 1989 and recorded June 29, 1989 as Instrument No. 8900037993, as amended by First Amendment to Declaration of Easements and Covenants dated August 12, 1991 and recorded June 24, 1993 as Instrument No. 9300042111, by Second Amendment to Declaration of Easement and Covenants of the Portals dated March 26, 1996 and recorded March 29, 1996 as Instrument No. 9600019220, by Consent of RLA Revitalization Corporation dated March 29, 2002 and recorded April 2, 2002 as Instrument No. 2002037358 and by Third Amendment to Declaration of Easements and Covenants of the Portals dated April 22, 2004 and recorded June 14, 2004 as Instrument No. 2004082172; as affected by a Fourth Amendment to Declaration of Easements and Covenants of the Portals dated March 22, 2016 and recorded on May 4, 2016 as Instrument No. 2016044425.
Only the personal property subject to the operation and effect of the Deed of Trust and actually located at the real property at the time of sale will be sold and conveyed. The Substitute Trustees make no representation or warranty as to the identity of such personal property, nor will the Substitute Trustees deliver possession of any such personal property, it being the responsibility of the purchaser to identify and obtain possession of such personal property. The real and personal property are hereinafter referred to as the “Property”.
To qualify as a bidder a deposit of $2,000,000.00, by certified or cashier's check, must be displayed to the Substitute Trustees prior to the commencement of the sale by each bidder other than the Beneficiary, servicer acting on the Beneficiary’s behalf, or any subsidiary or affiliate of the Beneficiary (each a “Lender Affiliated Party”). Any Lender Affiliated Party may apply the outstanding amount of the debt under the Notes as a credit to its bid. The deposit, without interest, will be applied to the purchase price at closing.
Immediately after the strikedown of the bid, the purchaser shall be required to sign and deliver a contract of sale expanding upon the terms of this notice and incorporating verbal announcements, if any. Prior to the sale, the Substitute Trustees will make available a copy of the contract of sale to prospective bidders upon request.
The Property shall be sold in its “AS IS, WHERE IS” condition and without recourse, warranty, express or implied, as to the nature, condition or description of the Property, equipment, fixtures, or improvements.
Conveyance of the Property shall be by the trustees’ deed and quitclaim bill of sale without warranty, and shall be subject to all recorded and unrecorded liens, encumbrances, security interests, easements, conditions, reservations, covenants, restrictions, leases, occupancy agreements, rights of way, rights of redemption of federal lienholders or encumbrances whether of record or not of record, and mechanics and materialmen’s liens, to the extent any of the foregoing may lawfully apply to the Property being sold or any part thereof, and take priority over the liens and security interests of the Deed of Trust. The Property is sold subject to such state of facts that an accurate survey or physical inspection might disclose. The Property will be sold subject to the rights of any person(s) in possession of any or all of the Property as tenants under any recorded or unrecorded leases, if any.
Purchaser will take title to the Property subject to all taxes, public charges, assessments, water and sewer charges, and other utility charges, if any, and subject to all expenses of the Property.
Neither the Substitute Trustees nor any Lender Affiliated Party, nor their respective agents, successors or assigns make any representations or warranties, either expressed or implied with respect to the Property including, without limitation, recorded or unrecorded leases or other occupancy agreements, if any, operating and management agreements, if any, or use, physical conditions, structural integrity, construction, workmanship, habitability, zoning, subdivision, fitness for a particular purpose or merchantability, or compliance with building codes, environmental ordinances or regulations or similar matters. The purchaser recognizes and agrees that any investigation, examination, or inspection of the Property being sold is within the control of the owner or other parties in possession and their agents and not within the control of the Substitute Trustees, or their successors or assigns, or any Lender Affiliated Party.
Without limiting the generality of the foregoing, the Property will be sold without representation or warranty as to the environmental condition of the Property or the compliance of the Property with federal, state, or local laws and regulations concerning the purchase or disposal of hazardous substances. Acceptance of the trustees’ deed to the Property shall constitute a waiver of any claims against the Substitute Trustees or any of the Lender Affiliated Parties (collectively, “Releasees”), concerning the environmental condition of the Property including, but not limited to, claims arising under the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended, and/or state or local law, ordinances or regulations. The purchaser waives any cause of action it may have against the Releasees, for any condition of the Property that may not comply with any federal, state or local law, regulation or ruling including, without limitation, any laws, regulations and rulings relating to environmental contamination or hazardous wastes. Such agreement also shall provide that if, notwithstanding such agreement, a court of competent jurisdiction should permit such a claim to be made against any Releasees, such agreement shall serve as the overwhelming primary factor in any equitable apportionment of response costs or other liability. Nothing in this paragraph shall release, waive or preclude any claims the purchaser may have against any other person with respect to the Property.
Purchaser assumes the risk of loss or damage to the Property from the strikedown of the bid forward. Purchaser shall be responsible for obtaining physical possession of the Property.
Purchaser shall settle on or before thirty (30) days after the sale. TIME SHALL BE OF THE ESSENCE. The balance of the purchase price of the Property over and above the bidding deposit, with interest thereon at a rate of 3.75% per annum from the date of sale through the date of receipt of the balance of the purchase price, will be due at closing by cashiers or certified check or by immediately available wire funds. Purchaser shall be responsible for payment of all settlement costs including, but not limited to, deed preparation and all recordation taxes and charges, settlement fees, title insurance premiums, and all other costs incident to settlement. All rents, without pro-ration for the current month, collected to the day prior to closing shall remain the property of the Beneficiary. All rents, without pro-ration for the current month, and any delinquent rents, collected on and after the day of closing shall be the property of the purchaser. Utilities associated with the Property shall be adjusted at closing, with the meters read the day prior to closing.
If the successful bidder fails to complete settlement, the deposit shall be forfeited and applied to the costs of the sale, including trustees’ fees, and the balance, if any, shall be delivered to the Beneficiary to be applied against all amounts owed it under the Notes and Deed of Trust. There shall be no refunds. The Property shall be resold at the risk and the cost of the defaulting bidder. Such forfeiture shall not limit any rights or remedies of the Substitute Trustees or the Beneficiary with respect to any such default, and the defaulting purchaser shall be liable for all costs of re-sale of the Property (including attorneys’ fees of the Beneficiary and the Substitute Trustees), plus any amount by which the ultimate sale price for the Property is less than the defaulting purchaser’s bid. After any such default and forfeiture, the Property may, at the discretion of the Substitute Trustees, be conveyed to the next highest bidder of the Property whose bid was acceptable to the Substitute Trustees. The defaulting purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the Property.
If the Substitute Trustees are unable to convey title as required herein, purchaser’s sole remedy at law and in equity shall be limited to a refund of the deposit and the sale shall be considered null and void and of no effect whatsoever.
The Substitute Trustees reserve the right, in their sole discretion, to reject any and all bids, to withdraw all or part of the Property from sale at any time before or at the auction, to modify the requirement for bidders’ deposits, to extend the time to receive bids, to waive or modify the deposit
requirement, to amend or supplement the terms of the sale by verbal announcement made by the Substitute Trustees at the sale, to recess the sale, to conduct other sales as the Substitute Trustees may determine in their discretion, and/or to extend the period of time for settlement.
Immediately upon conveyance and assignment by the Substitute Trustees of the Property to the purchaser or purchasers at foreclosure, all duties, liabilities and obligations of the Substitute Trustees, if any, with respect to the Property shall be extinguished.
Substitute Trustees:
Jeremy B. Root
James R. Meizanis, Jr.
For Information contact:
Jeremy B. Root
BLANKINGSHIP & KEITH, PC
4020 University Drive #300
Fairfax, Virginia 22030
(703) 691-1235
Auctioneer:
Harvey West Auctioneers, LLC
5335 Wisconsin Avenue, N.W.
Suite 440
Washington D.C. 20015
(Advertise May 1, 3, 6, 8, 10, 2024)
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