Stephen M. Goldberg, Solicitor
Tydings & Rosenberg, LLP
100 E. Pratt Street, 26th Floor
Baltimore, MD 21202

ASSIGNEES' AUCTION

ARBUTUS

RETAIL & OFFICE BUILDING
5 Stores & 4 Office Suites



Sale On Premises
5305 EAST DRIVE
Off Sulpher Spring Road
Baltimore County, MD 21227

WEDNESDAY, MARCH 30, 2005
AT 11:00 A.M.


LOCATION MAP

       Under and virtue of the power of sale contained in the Purchase Money Mortgage from Charles L. Wright and Marlene Wright, dated October 28, 1993 and recorded among the Land Records of Baltimore County, Maryland in Liber S.M. No. 10155, Folio 179, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Assignees will sell at Public Auction, the following:

       All that fee simple lot of ground and the improvements thereon, situate and lying in Baltimore County, State of Maryland and being more fully described in the above-referenced mortgage. The property is an irregular configuration, fronting approximately 112' along East Drive, by a depth of 174', more or less.

       The property is improved by a two story brick and concrete block retail and office building, containing approximately 10,900 square feet of gross building area, of which approximately 7,400 square feet are on the first floor and 3,500 square feet are on the second floor. The first level has five retail spaces, of which two are combined. The second floor has two separate entrances and four office suites. The property is believed but not warranted to be located in a BL-CCC, commercial zoning district. Prospective purchasers are encouraged to inspect the property prior to the day of sale and perform their own due diligence regarding its permitted uses.

       TERMS OF SALE: A $30,000 deposit, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's Office. The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Baltimore County at the offices of Tydings & Rosenberg, LLP. If payment of the 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 stated in the foreclosed mortgage, from date of sale to date of settlement. All adjustments as of date of sale. Taxes, rents and all other public charges and assessments payable on an annual basis, including sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale and assumed thereafter by the purchaser. The property will be sold in "AS IS" condition, without express or implied warranty as to the nature and description of the improvements as contained herein; and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of sale forward. The purchaser waives and releases the Assignees, the holder of the indebtedness, 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 Assignees are 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 Assignees, the holder of the indebtedness or Auctioneers. Recordation costs, transfer taxes and all other costs incident to settlement to be paid by the purchaser. Time shall be of the essence for the purchaser.

Stephen M. Goldberg, Joseph M. Bellew, Assignees