00046580 —

Feb 25-11:55
Listing Began:

Description

Seller's Comments and Description:

ALEX COOPER AUCTS., INC.

4910 MASSACHUSETTS AVE., NW #100

WASHINGTON, DC 20016 202-364-0306

WWW.ALEXCOOPER.COM

COURT APPOINTED SUBSTITUTE TRUSTEES

FORECLOSURE SALE OF REAL PROPERTY

1532 E St., SE

Washington, DC 20003

In execution of the Superior Court for District of Columbia's ("Court") Order Granting Default Judgment in Case #2019 CA 007256 R(RP) VELOCITY MORTGAGE CAPITAL v. JARED WARE the undersigned Substitute Trustees will offer for sale at public auction within the offices of Alex Cooper Aucts., Inc., 4910 Massachusetts Ave., NW #100, Washington, DC 20016, 202-364-0306 on

THURSDAY, FEBRUARY 11, 2021 AT 11:00 AM

THE ABOVE DESCRIBED PROPERTY AND IMPROVEMENTS THEREON situated in Washington, DC and more fully designated as Lot 0061 in Square 1075 in a Deed of Trust dated October 19, 2018 recorded as Instrument No. 2018107449 among the D.C. Land Records.

The property will be sold by Trustees' Deed "as is" without any covenant, expressed or implied, in Fee Simple, subject to conditions, restrictions, easements, and all other recorded instruments superior to the Deed of Trust referenced above, and subject to ratification by the Court.

TERMS OF SALE: A deposit of at least $75,000 or ten percent (10%) of the winning bid amount will be required at time of sale, in the form of cashier's or certified check, or other form as Substitute Trustees may determine. The deposit required to bid at the auction is waived for the Noteholder and any of its successors or assigns. The Noteholder may bid up to the amount owed on the Note plus all costs and expenses of sale on credit and may submit a written bid to the Substitute Trustees which shall be announced at sale. The Balance of the purchase price to be paid in certified funds within thirty (30) days of final ratification of the sale by the Court. TIME IS OF THE ESSENCE. If Purchaser fails to settle within the aforesaid thirty (30) days of the ratification, the Purchaser agrees to pay the Substitute Trustees’ reasonable attorney fees as ordered by the Court, plus all costs incurred, if the Substitute Trustees have filed the appropriate motion with the Court to resell the property. Purchaser waives personal service of any paper filed with the Court in connection with such motion and any Show Cause Order issued by the Court and expressly agrees to accept service of any such paper or Order by certified mail and regular mail sent to the address provided by the Purchaser and as recorded on the documents executed by the Purchaser at the time of the sale. Service shall be deemed effective upon the Purchaser 3 days after postmarked by the United States Post Office. It is expressly agreed by the Purchaser that actual receipt of the certified mail is not required for service to be effective. If the Purchaser fails to go to settlement the deposit shall be forfeited to the Substitute Trustees and all expenses of this sale (including attorney fees and full commission on the gross sales price of the sale) shall be charged against and paid from the forfeited deposit. In the event of resale the defaulting Purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property regardless of any improvements made to the real property. Interest is to be paid on the unpaid purchase money at the rate of 9.75% per annum from the date of sale to the date the funds are received in the office of the Substitute Trustees. In the event that the settlement is delayed for ANY REASON WHATSOEVER, there shall be no abatement of interest. Taxes, water rent, condominium fees and/or homeowner association dues, all public charges/assessments payable on an annual basis, including sanitary and/or metropolitan district charges, if applicable, to be adjusted for the current year to date of sale and assumed thereafter by the Purchaser. Purchaser shall be responsible for the costs of all transfer taxes, documentary stamps and all other costs incident to settlement. Purchaser shall be responsible for physical possession of the property. Purchaser assumes the risk of loss from the date of sale forward. If the Substitute 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. The sale is subject to post sale audit by the noteholder to determine whether the borrower filed bankruptcy, entered into any repayment/forbearance agreement, reinstated or paid off prior to the sale. In any such event the Purchaser agrees that upon notification by the Substitute Trustees of such event the sale is null and void and of no legal effect and the deposit returned without interest. (Matter #19-802756).

Laura H. G. O'Sullivan, et al., Substitute Trustees, Washington Times Jan 13, Jan 20, Jan 27, Feb 3 (Serial #509818) AD#46580





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