ABSOLUTE ONLINE REAL ESTATE AUCTION Sold To the Highest Bidder Above $100,000 CHESAPEAKE CITY “Bridgepoint Town Homes” 14 – TOWNHOUSE LOTS Established Community ? Extensive Engineering Work Situated On NICHOLAS LOOP Cecil County, MD 21915 Online Bidding Opens MONDAY, MAY 19, 2025 Online Bidding Closes WEDNESDAY, MAY 21, 2025 AT 1:00 P.M. NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property. GENERAL INFORMATION: Bridgepoint Town Homes (a/k/a Bridge Point) is a nineteen unit subdivision, located just south of the Chesapeake City C&D Canal Bridge. Five townhomes have been constructed. The auction property includes fourteen townhouse lots, four open-space parcels, extensive drawings, plats, storm water management and engineering plans, prepared by Morris & Ritchie Associates, Inc. Four prepaid water and sewer hook-ups, worth $60,000, are also included. The property is sold to the highest bidder above $100,000. LOCATION: The Bridgepoint Town Homes community is situated in Chesapeake City, on Maryland’s Eastern Shore. The parcel is opposite Chesapeake City Park, within walking distance of the C&D Canal (Back Creek), the south side of Chesapeake City’s historic district, restaurants, shops, marinas and a public boat ramp. Access to the development is from Basil Avenue, off MD-213. SITE: Bridgepoint Townhomes comprises approximately 2.13 acres of level land, subdivided into nineteen townhouse lots, and open space parcels, situated along Nicholas Loop. Townhouses on Lots 1-5 were completed in 2010. The development fronts on Basil Avenue and MD-213 (Augustine Herman Highway). The auction includes Lots 6-19 and Open Space Parcels A, B, C and D, as shown on the record plat, recorded among the Land Records of Cecil County in Plat Book PC No. 1111, folio 85. Record Plat The townhouse lots are 22' wide, by depths ranging from approximately 110' to 141'. Public water and sewer are available and four lots have prepaid hook-ups. Zoning TND DUE DILIGENCE INFORMATION: Please complete the Waiver and Confidentiality agreement to receive: Road, Water and Sewer Plans Storm Water Management and Grading Plans Highway Entrance Plans Erosion and Sediment Control Plans Public Works Agreement Townhouse Information Declaration of Restrictions Homeowners Association Documents TITLE: The property is in fee simple and sold free and clear of liens. Cecil County Deed Book CMN 5076, Page 285. The HOA for Bridgepoint Townhomes was formed but forfeited eleven years ago in 2014 and has remain forfeited; the LLC that formed the HOA and was the original Developer has also been forfeited. No active HOA is in effect to the seller’s knowledge. TAXES: According to published tax records, the offered townhouse lots are currently assessed for $20,000 each, with annual real estate taxes of $385 per lot. The open space lots have current annual real estate taxes of $60 each. SUMMARY TERMS OF SALE: Please see the Contract of Sale for complete terms. A 10% deposit, payable by wire transfer or cashier’s check, will be required of the Purchaser by 4:00 p.m. on the day of sale. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the Purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the Purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any, and subject to the legal operation and effect, if any, of the Declaration and Bylaws of the Bridgepoint (a/k/a Bridge Point) Town House Community Homeowners Association. Purchased acknowledges that they have reviewed the Homeowners Association documents in advance of the auction and waives any right of rescission under the Maryland Homeowners Act. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and 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 the condition of the property, including but not limited to the environmental condition thereof. If the Seller is 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. Upon refund of the deposit this sale shall be null and void and of no effect, and the Purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the Purchaser. Time is of the essence. A 10% buyer’s premium will be added to the final bid price and shall become part of the contract price for which the property is sold.