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Auction Details

Legal Address: 1015 RHODE ISLAND AVENUE NE WASHINGTON DC 20002

Property Geocode:

Sale Date: 2026-09-08

Sale Time: 10:00 AM

Online Views: 13

Publication

Pardo & Drazin, LLC

Jason A. Pardo, Attorney

4400 Jenifer Street, NW, Suite 2

Washington, DC 20015

202-223-7900

TRUSTEES’ SALE

OF REAL PROPERTY

1015 Rhode Island Avenue, NE

Washington, DC 20002

Lot 0053 in Square 3870

Under a power of sale contained in a certain Credit Line Deed of Trust and Security Agreement, Assignment of Leases and Rents (the “Deed of Trust”) dated April 3, 2024 and recorded on April 10, 2024 as Instrument No. 2024033091, 1015 Rhode Island LLC (“Borrower”), a District of Columbia limited liability company, as grantor, conveyed to Jason A. Pardo and Russell S. Drazin (collectively, “Trustees”), as trustees, securing that certain Promissory Note (the “Note”) dated April 3, 2024 in the original principal amount of $2,340,000.00, default having occurred under the terms thereof, and following the mailing and recordation of an Affidavit of Non-Residential Mortgage Foreclosure and a Notice of Foreclosure Sale of Real Property or Condominium Unit, at the request of the current noteholder, Trustees will sell at public auction at the office of Harvey West Auctioneers, Inc., 5335 Wisconsin Avenue, NW, Suite 440, Washington, DC 20015, on

September 8, 2026 AT 10:00 aM

ALL THAT LOT OF GROUND AND THE IMPROVEMENTS THEREON (if any) situated in the City of Washington, District of Columbia, known as 1015 Rhode Island Avenue, NE, Washington, DC 20002 (Lot 0053 in Square 3870), and more fully described in the Deed of Trust.

TOGETHER WITH any and all buildings, structures, improvements or appurtenances now erected on the above-described land, including, without limitation, all equipment, apparatus, machinery and fixtures of any kind or character forming a part of said buildings, structures, improvements or appurtenances, which are not owned by any third party, upon or about the above-described land and any buildings thereon all as more particularly described in the aforesaid Deed of Trust (the "Property").

The property will be sold in an “AS IS” condition, with no warranty of any kind, and subject to conditions, restrictions, agreements, liens, and encumbrances of record affecting the same – except those encumbrances of record that are extinguished by operation of District of Columbia law by virtue of the foreclosure of the Deed of Trust. The successful purchaser recognizes that any investigation, examination or inspection of the Property is within the control of the owner or other parties in possession of the Property and not within the control of the Trustees or the noteholder. Purchaser will take title to the property subject to all taxes, water and sewer charges, and other utility charges, if any. Purchaser assumes the risk of loss or damage to the property from the date of sale forward. Purchaser shall be responsible for obtaining physical possession of the property.

TERMS OF SALE: ALL CASH. The Property will be offered as an entirety only. The bid which yields the highest price for the Property will be accepted by the Trustees (unless the sale is postponed or cancelled) and all bids will be provisional until acceptance. Notwithstanding the foregoing, the Trustees absolutely reserve the right to postpone the sale and/or cancel the sale at any time until the auctioneer announces that the Property is "sold" and the deposit in the required amount and form is received by the Trustees. A deposit in the amount of $15,000.00 will be required at the time of sale. Such deposit must be by cashier's check or certified check or in such other form as the Trustees may determine in their sole discretion. In the event the deposit is less than 10% of the winning bid amount, then the deposit must be increased to 10% of the winning bid amount and delivered to the Trustees within one (1) business day after the consummation of the sale in the same form of funds as the initial deposit or in such other form as the Trustees may determine in their sole discretion. Failure to timely tender the deposit or additional deposit shall constitute a material default by the purchaser and result in forfeiture of the deposit. Balance of the purchase price to be paid in cash or certified funds at settlement. Interest to be paid on the unpaid purchase money from the date of sale to the date of settlement at the applicable interest rate set forth in the debt instrument secured by the Deed of Trust. Purchaser shall be responsible for payment of all settlement costs.

The noteholder and its affiliates, if a bidder, shall not be required to post a deposit or to pay interest.

In the event that purchaser does not settle as required for any reason, purchaser shall be in default. Upon such default, the deposit shall be forfeited to Trustees and all of the expenses of this sale (including legal fees and costs, and full commission on the gross sale price) shall be charged against and paid out of the forfeited deposit. Trustees may resell the property at the risk and expense of the defaulting purchaser. The defaulting purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property. Defaulting purchaser shall be liable to Trustees for legal fees and costs incurred by Trustees in connection with such default.

If Trustees are unable to settle as set forth 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.

Trustees reserve the right, in Trustees’ sole discretion, to reject any and all bids, to withdraw the property from sale at any time before or at the auction, to extend the time to receive bids, to waive or modify the deposit requirement, to waive or modify the requirement that interest be paid on the unpaid purchase money, and/or to extend the period of time for settlement.

Additional terms may be announced at the sale. The successful bidder will be required to execute and deliver to Trustees a memorandum or contract of the sale at the conclusion of bidding.

Jason A. Pardo, Trustee

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Aug. 25, 27, sept. 1, 3, & 7, 2026

(THE WASHINGTON POST)

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