NOTICE OF SUBSTITUTE TRUSTEES’
SALE OF REAL PROPERTY KNOWN AS
45615 WILLOWPOND PLAZA, UNIT 6, STERLING, VIRGINIA 20164
SALE TO BE HELD AT THE ENTRANCE OF
45615 WILLOWPOND PLAZA, STERLING, VIRGINIA 20164
JULY 20, 2017
AT 11:00 A.M.
In execution of a certain Purchase Money Deed of Trust and Security Agreement granted by Ecomnets Sterling LLC dated January 7, 2014 and recorded January 8, 2014 among the land records maintained by the Clerk of the Circuit Court of Loudoun County, Virginia as Instrument Number 20140108-0001030 (the “Deed of Trust”) securing Fulton Bank, N.A. (the “Noteholder”), default having occurred in the payment of the debt secured thereby, and being instructed to do so by the Noteholder, the undersigned Substitute Trustees will offer for sale at public auction at the entrance of 45615 Willowpond Plaza, Sterling, Virginia 20164 on July 20, 2017 beginning at 11:00 a.m., the real estate and improvements thereon known as 45615 Willowpond Plaza, Unit 6, Sterling, Virginia 20164 and more particularly described as follows:
All of that certain land located in Loudoun County, Virginia and being more particularly described as follows:
Unit Six (6), Willow Pond Office Park Condominium, a Condominium in accordance with the Declaration of Condominium and Exhibits thereto as recorded in Deed Book 1036 at page 310, among the land records of Loudoun County, Virginia, together with an undivided percentage interest in the limited common elements and common elements thereto.
The real property to be sold is anticipated to be open for viewing at or around 10:00 a.m. on the day of the sale. Additional viewing times may be available. Contact Auction Markets for more details or visit www.RealtyMarkets.com.
Sale is expressly made subject to those terms and conditions set forth in that certain Agreed Interlocutory Sale Order entered May 24, 2017 by the United States District Court for the Eastern District of Virginia in Criminal Case No. 1:16-CR-43, United States of America v. Raju Kosuri, et al., including the condition that the sale price at the above-described foreclosure sale shall be subject to the approval of the United States, which approval shall be evidenced by the signature of Karen Ledbetter Taylor, Assistant United States Attorney, on the purchaser’s contract of sale with the Substitute Trustees. The sale shall also be made subject to all encumbrances, rights, reservations, conveyances, leases, conditions, easements, restrictive covenants, and all recorded and unrecorded liens, if any, having priority over the Deed of Trust, as they may lawfully affect the property. All loss or damage to the property sold from and after the time of sale and before settlement shall be at the risk of the successful bidder. Real estate taxes and all other public charges and assessments shall be adjusted for the current year to the date of sale and the purchaser shall be responsible for payment of such taxes and charges beginning on the date of sale. All income and expenses to be adjusted for the month of settlement to date of settlement, and purchaser to assume all expenses thereafter. The Substitute Trustees shall be liable for only those security deposits, if any, and such income, if any, as the Substitute Trustees may have in their actual possession on the date of settlement. Cost of all documentary stamps, grantor, recordation and transfer taxes, notary and examination of title fees will be paid by the purchaser. If the Substitute Trustees are unable to convey the property as described above, the Purchaser’s sole remedy at law or in equity shall be limited to a refund of its deposit. Upon such refund of the deposit to the purchaser, the sale shall be void and of no effect, and the purchaser shall have no further claim against the Substitute Trustees, the Noteholder, the Auctioneer or the other Beneficiaries (as defined below).
The property will be sold (i) together with any and all improvements and fixtures located on the property; (ii) subject to and together with all recorded easements, agreements, rights of way, charges, liens, mechanic's and materialmen's liens, reservations, and other encumbrances, covenants, restrictions and conditions affecting the property and not subordinate to said Deed of Trust, if any, including without limitation, environmental conditions (including wetlands, riparian rights, protected species), all applicable federal, state and local laws, ordinances and regulations affecting the property, and other matters which would be disclosed by an accurate survey or inspection of the property; and (iii) subject to rights of tenants not subordinate to said Deed of Trust, if any. The property to be sold will not include any personal property except as set forth in the preceding sentence. No representation or warranty, express or implied, is made as to whether any tenants, subtenants or other parties in possession are actually in possession and/or paying rent.
The property will be sold in "AS IS, WHERE IS" condition, without recourse. The information contained herein as to the nature and description or use of the property has been obtained from sources deemed reliable and believed to be accurate when given; provided, however, neither the Substitute Trustees nor the Noteholder, nor their respective agents, successors and assigns (collectively, the "Beneficiaries") make any representations or warranties, express or implied, with respect to the property, or any tenancies or parties in possession, including without limitation, the descriptions, use, dimensions, quantities, square footage, parking, tenancies, structural integrity, physical condition, construction, extent of construction, workmanship, materials, habitability, zoning, environmental condition, or fitness for a particular use or merchantability of all or any part of the property or the improvements located thereon.
TERMS OF SALE
CASH. A bidder’s deposit of 10% of the bid amount (the “Deposit”) by certified or cashier’s check may be required by the Substitute Trustees for such bid to be accepted. Each bidder must have a $75,000 certified or cashier’s check, payable to themselves, at the time of the auction (the “Minimum Deposit”). The winning bidder will be required to endorse the Minimum Deposit immediately over to the Substitute Trustees and pay the difference between the 10% Deposit and the Minimum Deposit to the Substitute Trustees, in acceptable funds, by Friday, July 21, 2017 at 3:00 p.m. Eastern time. The Substitute Trustees reserve the right to prequalify any bidder prior to the sale and/or waive or modify the requirement of the Deposit. Immediately after the sale, the successful bidder shall execute and deliver a memorandum of sale with the Substitute Trustees, copies of which shall be available for inspection immediately prior to the sale, and shall deliver to the Substitute Trustees the Deposit and the memorandum of sale. The balance of the purchase price, together with interest at five percent per annum from the date of sale to the date of settlement, shall be paid by the Purchaser. Settlement shall occur within thirty (30) days after the sale date, TIME BEING OF THE ESSENCE with regard to the Purchaser’s obligation.
/s/ Joseph F. Jackson
/s/ Genevieve C. Bradley
FOR INFORMATION CONTACT:
Stephen Karbelk, Auctioneer
Auction Markets, LLC
Joseph F. Jackson and Genevieve C. Bradley