Go Back ThursdayFebruary 28, 2013 — 10:00am


Secured Creditor's Sale

Restaurant and Hotel Personal Property

GORDON FEINBLATT LLC
 ATTORNEYS
233 EAST REDWOOD STREET
   BALTIMORE, MARYLAND  21202 

 SECURED CREDITOR’S SALE OF
  RESTAURANT AND HOTEL PERSONAL PROPERTY

Pursuant to a Security Agreement dated November 8, 2006 from Ruchi BWI Restaurant, LLC, and a Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, dated November 8, 2006, and recorded among the Land Records of Anne Arundel County, Maryland (the “Land Records”) in Liber R.P.D. No. 18523, folio 007 from Ruchi BWI Hotel, LLC (said Security Agreement and Deed of Trust being collectively referred to as the “Security Documents”), BWI Hotel Holdings I LLC (the “Secured Party”) being the secured party under the Security Documents will offer for sale at public auction, on the premises at 6073-6075 Belle Grove Road, Baltimore, Maryland 21225, on: Thursday, February 28, 2013 at 10:00 a.m., all of the Secured Party’s right, title, and interest in and to all of the following (the “Assets”):  all furniture, fixtures, equipment, and other tangible and intangible personal property described in the Security Documents and in those certain financing statements (i) filed with the Maryland State Department of Assessments and Taxation as instrument number 181288758 (identifying Ruchi BWI Hotel LLC as the debtor), and instrument number 181288760 (identifying Ruchi BWI Restaurant LLC as the debtor); and (ii) recorded  among the Land Records in Liber R.P.D. No. 18523, folio 78 (identifying Ruchi BWI Hotel LLC as the debtor), and recorded among the Land Records in Liber R.P.D. No. 18523, folio 83 (identifying Ruchi BWI Restaurant LLC as the debtor).

A deposit in the amount of $150,000 shall be required at the time and place of sale, payable by cashier's check drawn on a bank acceptable to the Secured Party, in its discretion.  Auctioneer may offer the Assets for sale as an entirety or in lots.  An announcement as to the manner in which the Assets will be offered for sale will be made prior to the commencement of the auction.  Any announcements made at the auction take precedence over previously announced or documented information, but do not alter any way the basic terms and conditions of sale. The Assets will be offered for sale “AS IS” “WHERE IS” and “WITH ALL FAULTS.” AUCTIONEER AND SECURED PARTY MAKE NO WARRANTIES OR GUARANTEES WHATSOEVER WHETHER WRITTEN, ORAL, EXPRESS OR IMPLIED AS TO QUALITY, QUANTITY, CONDITION, USABILITY, SALEABILITY, WEIGHT, MEASUREMENT, YEAR, MODEL, MECHANICAL CONDITION, PERFORMANCE, OR OTHER SPECIFICATIONS, OR ANY WARRANTY AS TO FITNESS FOR PARTICULAR PURPOSE OR USE.  Any description of the Assets given by the Auctioneer may be derived from records, documents or other information that may be unverified as to accuracy, and is solely for identification, and does not create any warranty, expressed or implied, that the Assets actually conform to such description.  The buyer shall be responsible for all unpaid taxes, if any, assessed with respect to the Assets, and all amounts due in connection therewith, including without limitation, all arrearages, interest, penalties and fines, if any.  All applicable sales and other taxes shall be paid by the buyer.  The buyer shall be responsible for any code violations (and resulting fines) occurring or existing with respect to the Assets, whether or not official notices thereof are issued, and for the risk of loss to the Assets from and after the time of sale.  The Auctioneer and the Secured Party reserve the right to require registration and/or pre-qualification of bidders, to modify or waive the requirements for bidders' deposits, to approve the creditworthiness of any bidder and final buyer, to withdraw any or all of the Assets from sale prior to acceptance of a final bid, to cancel the sale, to reject any and all bids or to postpone the sale and keep the bidding open for any length of time, and to conduct other sales as the Auctioneer and/or the Secured Party may determine in their respective discretion.  The Secured Party may bid at the auction and, if the successful bidder, shall not be required to post a deposit.

ALL SALES ARE FINAL.  NO REFUNDS, RETURNS OR EXCHANGES.

No checkout will be permitted until all bidding has concluded. All purchases must be paid for in full before Assets will be released from the premises.  All purchases must be paid for within one (1) hour following conclusion of the auction and removed from the premises on the date of sale.  Payments will be accepted in the form of cash or cashiers’ check drawn on a bank acceptable to the Secured Party, in its discretion.   Any Asset not paid for in the manner described above will be deemed abandoned by the applicable buyer, the buyer will lose any right, title or interest buyer may have acquired, the applicable Asset shall revert to Auctioneer without further notice to buyer, the transaction shall be null and void as to such buyer, and such buyer shall not be entitled to the return of the deposit made to qualify as a bidder.   Buyers are solely responsible to provide all personnel, equipment or material needed to pick up purchases and shall assume all responsibility for the removal of any Asset purchased at the sale and any and all risks associated with such removal including, without limitation, full financial responsibility for any damage or liability to persons or property resulting from any negligent act or omission of buyer or any of buyer’s employees, agents and/or representatives during pick-up and removal, and for any damage to the building from which such Assets are removed.  Upon request of Auctioneer, buyers shall provide proof of satisfactory insurance coverage before being allowed to remove any Asset from the premises.  In the event any purchased Asset contains any environmental hazards, toxic waste or other type of hazardous material in any form whatsoever, the applicable buyer shall provide evidence that it or its representatives are licensed for such removal and shall comply with all applicable local, state and/or federal rules, laws and regulations. Auctioneer, Secured Party, their agents or representatives shall not be responsible for containment, storage, or removal of any environmental hazards, toxic waste or other type of hazardous material.  Persons in attendance during sale or removal of Assets assume all risks of damage or loss to persons or property and shall exercise proper precautions at all times for the protection of persons and property and shall comply with all safety and health requirements as provided by local, state and federal regulations, and as directed by Auctioneer.  Neither Auctioneer, Secured Party, nor their agents, employees, or representatives shall be liable by reason of any defect in or about the condition of the premises on which the auction is held.   In no event will Auctioneer’s or Secured Party’s liability to any buyer exceed the purchase price actually paid by such buyer.  A buyer’s claim shall be limited to the amount paid for the applicable Assets, and shall not extend to any obligation, risk, liability, right, claim, remedy for loss of use, revenue or profit, liability of buyer to any third party, personal injury, or any other direct, indirect, incidental or consequential damages.  If any applicable condition is not complied with by any buyer, then, in addition to other remedies available to Auctioneer and Secured Party, including and without limitation, the right to hold such buyer liable for the amount bid by such buyer for the applicable Asset, Auctioneer may, at its option, (a) cancel the sale, retaining all payments made by such buyer, and/or (b) resell the applicable Asset and hold the buyer liable for: (i) any deficiency between the amount bid by such buyer and subsequent resale price; (ii)  Auctioneer’s commission for the resale; and (iii) all other expenses related to the resale of the applicable Asset, including costs of storing and insuring the applicable Asset pending resale.  Such buyer shall have no claim for any excess or surplus in the event that any resale results in a higher bid than such buyer’s bid.

Contact Person: Paul Cooper
Telephone: 443-470-1437
Email: Paul@AlexCooper.com

Open below link for Full terms and conditions of sale.

Click Here For The Full Sale Terms In PDF Format


PLEASE NOTE
The information contained herein was obtained from sources deemed reliable, but is offered for informational purposes only. The Auctioneer, the Sellers, and their respective agents and representatives do not make any representations or warranties with respect to the accuracy of the information contained herein. Prospective purchasers are urged to make their own inspection.