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Summary terms of sale: A deposit in the amount of One Hundred Thousand Dollars ($100,000.00), payable in cash or by certified check, will be required of the purchaser at the time and place of sale. Within seven (7) calendar days after the date of the sale, the purchaser of the Property shall deliver a certified check to the Trustees in order to increase the deposit to an amount equal to ten percent (10%) of the full amount bid by the purchaser for the Property at the sale. The balance of the purchase price, together with interest thereon at the rate of ten percent (10%) per annum from the date of sale to the date of settlement, shall be due from the purchaser in cash or by certified check within thirty (30) days from the date of sale, unless such closing deadline is extended in writing by the Trustees. Time is of the essence. Settlement shall be held at the offices of Gebhardt & Smith LLP, One South Street, Suite 2200, Baltimore, Maryland 21202, or such other place as may be agreed to by the Trustees. In the event the beneficiary under the Deed of Trust, or an affiliate or subsidiary thereof, is the successful bidder at the sale, such party will not be required to make a deposit or to pay interest on the unpaid purchase money. The Trustees reserve the right to reject any and all bids at the sale, and to extend the time for settlement, at their discretion.

All real estate taxes, assessments, water charges and senior liens that are owed against the Property and that are not extinguished by the foreclosure sale of the Property shall be the sole responsibility of the purchaser and shall be paid by the purchaser at settlement. In addition, the cost of all recordation fees and taxes, document preparation costs, transfer taxes, title examination costs, attorneys' fees and other costs associated with conveying the Property to the purchaser shall also be the sole responsibility of the purchaser and shall be paid for by the purchaser at settlement.

The Property is being sold in an "AS IS" condition and without any warranties or representations, either express or implied, as to the nature, condition or description of the Property or the improvements thereon. The Property is being sold subject to: (a) all existing building and zoning code violations; (b) all existing zoning restrictions and requirements, (c) all critical area and wetland violations; (d) all environmental problems and violations which may exist on or with respect to the Property; (e) all senior liens, easements, conditions, restrictions and covenants; (f) all rights of redemption, (g) such state of facts that an accurate survey or physical inspection of the Property might disclose; and (h) all agreements and restrictions of record affecting the same, if any.