Bids will be accepted orally on: NEW SALE DATE:  October 6, 2011 at:  2:00 pm (local time) Location of foreclosure sale: Wicomico County Courthouse (on the steps) 101 North Division Street Salisbury, MD  21801

The sale date and time has been changed (above.)  At closing of the sale of this Property, the deed restrictions contained in the bid kit supersede any HUD use restrictions previously recorded against the Property.  This three-story complex is comprised of 19 residential buildings and 1 office building.   The complex was built in 1974, with rehab in 2004, and offers 29 one-bedroom, 118 two-bedroom, and 62 three bedroom units.  A Project-Based Section 8 Housing Assistance Payment Contract for 143 units at closing.  Project-based assistance is predicated on the availability of funds.  A $200,000 Earnest Money deposit is required for bidding at the foreclosure sale.  A $243,000 Letter of Credit or Cash Escrow is due at closing to ensure the completion of HUD required repairs.   HUD does not own or operate the complex.  Viewing is at the discretion of the current owner/management agent.  Viewing information is provided in the Property at a Glance.