Mortgage Assignees' Sale-400+/- Acre Waterfront Property in MD
Friday, 23 Feb, 2007 12:01 PM Selling for Ernest I. Cornbrooks, III, Chris S. Mason, Assignees
Circuit Court for Somerset County, Maryland, 30512 Prince William St., Princess Anne, MD 21853 Terms: See Below
Aerial Pictures of the Property Survey of Property
General Information:

ERNEST I. CORNBROOKS, III

CHRIS S. MASON, ESQUIRE

MORTGAGE ASSIGNEES

WEBB, BURNETT, CORNBROOKS, WILBER, VORHIS, DOUSE & MASON, LLP

115 BROAD STREET

SALISBURY, MARYLAND 21801

(410) 742-3176


MORTGAGE ASSIGNEES' SALE OF VALUABLE
AND ATTRACTIVE WATERFRONT RESIDENTIAL FEE SIMPLE PROPERTY

400 Acres +/-
known as:

POMFRET PLANTATION

27770 Crisfield Marion Road

Marion, MD 21838


Under and by virtue of the power of sale and authority contained in a Mortgage dated December 22, 2004, and recorded among the Land Records of Somerset County in Liber ITP 590, Folio 712 et seq. from Pomfret Plantation, LLC to Helen Ignaccolo and Steven S. Ignaccolo, default having occurred under the terms thereof, the holder of the indebtedness secured by the Mortgage having appointed Ernest I. Cornbrooks, III and Chris S. Mason as Assignees, by instrument duly executed, acknowledged and recorded among the Land Records of Somerset County, the undersigned, Mortgage Assignees, will offer for sale at public auction, at the Courthouse Door, Main Entrance, for the Circuit Court for Somerset County, Maryland, located at 30512 Prince William Street, Princess Anne, Maryland 21853 on Friday, February 23, 2007, at 12:01 p.m. all of the property and improvements thereon situate in Somerset County, Maryland and described as follows:



ITEM ONE: ALL that lot or parcel of land situate, as aforesaid, being bounded on the South by the State Road known as Route No. 667 leading from Marion to Crisfield and the Old County Road, and the properties owned or formerly owned by J.W. Cox, C.C. Ward, T.B. Long and Benjamin Nelson; being bounded on the East by the Joseph Coulbourn farm and Coulburn's Creek; being bounded on the North by the Annemessex River; and being bounded on the West by the Levin H. Curtis farm; being all and the same land which was conveyed to Addie M. Gunby by Isaac H. Coulbourn and William R. Coulbourn, the executors of William Coulbourn of Isaac by deed dated March 30, 1895 and recorded among the Land Records of Somerset County in Liber H.F.L. No. 16, folio 364 and also all that land which was conveyed unto the said Addie M. Gunby by Clarinda L. Richardson by deed dated September 23, 1902 and recorded as aforesaid in Liber O.T.B. No. 34, folio 60; excepting so much thereof as was conveyed to by the said Addie M. Gunby and husband by the following deeds: to Benjamin F. Nelson and Frank Nelson by deed dated June 7, 1916 and recorded as aforesaid in Liber W.J.S. No. 70, folio 573; to John W. Cox by deed dated June 7, 1916 and recorded as aforesaid in Liber W.J.S. No. 70, folio 587; to Thomas B. Long by deed dated June 7, 1916 and recorded as aforesaid in Liber W.J.S. No. 71, folio 139; and to C. Columbus Ward by deed dated June 7, 1916 and recorded as aforesaid in Liber W.J.S. No. 84, folio 489; all of which said land, including the said off-conveyances, being laid down and described in a plat prepared by Fred J. Johnson, Surveyor, and recorded with the aforesaid deed to Benjamin F. Nelson and Frank Nelson; the remaining land, after the said off-conveyances, being laid down as containing 21 3/8 acres (sic), including some acreage indicated to be within the banks of the adjoining water of Coulbourn's Creek and its tributaries;


ITEM TWO: ALL that lot or parcel of land situate, as aforesaid, laid down and described on a plat and certificate of survey made by Frederick J. Johnson, Surveyor, and filed with the herein after mentioned deed, as Lot No. 3, containing 13 : acres of land, more or less, and Lot No. 8, containing 15 acres of land, more or less, together with a right of way as appurtenant to the land hereby conveyed over the private road laid off on the said plat; and being one-half interest conveyed to Benjamin F. Nelson, Sr. and Florence G. Nelson, his wife, from the Marguerite Sterling, et al., by deed dated February 13, 1970 and recorded among the Land Records of Somerset County, Maryland in Liber I.T.P. No. 256, folio 13, and being the remaining one-half of that property conveyed to Benjamin F. Nelson, Sr. by deed dated June 7, 1916 duly recorded among the Land Records of Somerset County, Maryland in Liber W.J.S. No. 70, folio 574;


ITEM THREE: ALL those lots or parcels of land situate, as aforesaid, and being Lot No. 1 and Lot No. 2 as shown on a plat recorded among the Land Records of Somerset County, Maryland in Liber W.J.S. No. 70, folio 574;


ITEM FOUR: ALL that lot or parcel of land situate as aforesaid, and being located on the west side of but not adjacent to the old State Road, Route #667, and more particularly being a part of the property described in a Deed from Frederick A. Gunby, et ux. unto Benjamin F. Nelson, et al., dated June 7, 1960 and recorded among the Land Records of Somerset County, Maryland at Liber W.J.S. No. 70, folio 574, et seq., as shown on a survey dated May, 1916 by Fred J. Johnson and recorded among the Plat records of Somerset County at Liber W.J.S. No. 70, page 575 and being all of LOT NO. 12 as further described as follows:



Beginning at a concrete post set up on the South Side of said Private road in the center of two ditches at their intersection the North-West corner of Lot No. 9 and 33 feet South from another concrete post on the North side of said road dividing lots No. 10 and 11 and is indicated in the plat by the letter "D", thence down by and with the middle of a ditch and the South side of said private road South 57º 15' West fifty-four and 2 perches to a concrete post on the line of Levin H. Curtis land, thence by and with said line of Levin H. Curtis land, South 25º 8' East, forty-nine perches to a concrete post at the North-west corner of Lot No. 10, thence across the ends of Lots No. 6 and No. 5, North 70º 15' east sixty-one perches to a concrete post, set up on the center of a ditch at the north-west corner of Lot No. 4, and the North-east corner of Lot No. 3, and the South-west corner of Lot No. 8, thence by and with the lines of the West side of Lots No. 8 and No. 9, and the center of a ditch the four following courses and distances North 49º West nineteen and 56/100 perches, North 41º West thirteen perches North 36º West Six and 72/100 perches; North 31º /west twenty-two perches to the place of beginning, and containing Nineteen acres of land, more or less.


The improvements thereon consist of a dwelling which is believed to have been constructed in the 19th Century. The property will be sold in "AS IS" condition, subject to any existing building code violations, etc., and subject to conditions, agreements, and restrictions of record affecting the same.


Terms of Sale:



A cash deposit or certified check of Fifty Thousand Dollars ($50,000.00) shall be paid at the time and place of sale by the purchaser, balance in cash at settlement which shall be due twenty (20) days after final ratification of sale by the Circuit Court of Somerset County, Maryland, unless said period is extended by the Assignees, their successors or assigns for good cause shown, time being of the essence; interest at a rate of eight percent (8%) per annum shall be paid on the unpaid purchase money from the date of sale to the date of settlement. The property will be sold subject to all restrictions, covenants and encumbrances of record. In the event that the purchaser fails to go to settlement as required, the deposit shall be forfeited and the property shall be resold at purchaser's risk and expense. In the event of a resale, the defaulting purchaser shall not receive any benefit, profit or proceeds therefrom. Taxes, water, rent, agricultural transfer taxes and other municipal liens and charges to be adjusted as of date of sale and thereafter assessed to the purchaser. All other charges and assessments payable on an annual basis shall be adjusted from the date of sale and assumed thereafter by the purchaser. Cost of documentary stamps, transfer taxes, title examination, document preparation, title insurance and all other costs incident to settlement shall be borne by purchaser. Improvements are being sold in an "AS IS" condition with purchaser responsible for any and all housing code and/or zoning and environmental violations. Neither the Assignees, nor their respective agents, successors or assigns make any representation or warranty of any kind with respect to the property or the improvements including without limitation, description, use, recorded and unrecorded leases or other occupancy agreements, if any, operating or management agreements, physical conditions, environmental conditions of the subject property. The Assignees shall be required to convey insurable title. It shall be the purchaser's responsibility to obtain possession of the property in the event it is occupied. If the sale is not ratified or if the Assignees are unable to convey title in accord with these terms of sale, the sale shall be void and the purchaser's only remedy is a return of the deposit.


Ernest I. Cornbrooks, III

Chris S. Mason

Assignees






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