Barry C. Greenberg, Solicitor
Rosenberg Martin Funk Greenberg, LLP
25 S. Charles Street, Suite 2115
Baltimore, MD 21201

TRUSTEES' SALE

2 - LIBERTY HEIGHTS AREA HOMES

Sale On Premises
WEDNESDAY, JANUARY 5, 2005
At the Following Times


       Under and by virtue of the power of sale contained in two Purchase Money Deeds of Trust from Next Step Homes, LLC to Robert F. Smith and Mark D. Knobloch, Trustees, dated September 20, 2002 and recorded among the Land Records of Baltimore City, Maryland, in Liber 3502, Page 186 and dated August 21, 2002 and recorded among the aforesaid Land Records in Liber 3238, Page 430, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Trustees will sell at Public Auction, on the premises, the following:

       All those fee simple lots of ground and the improvements thereon, situate and lying in Baltimore City, State of Maryland and being more fully described in the above-referenced Deeds of Trust, comprising the following properties:


AT 11:00 A.M.
5016 NORWOOD AVENUE
"Howard Park"


LOCATION MAP

       Located off the 3200 block of Howard Park Avenue, 21207. The property is improved by a substantially renovated two story frame cottage. The home is believed to contain a living room, dining room, kitchen, 3 bedrooms, 2 baths and finished basement. According to public tax records, the home was constructed in 1925 and is believed to contain 1,488 square feet of living area, 816 square feet of basement space, fireplace, and two-car garage; lot size 50'6" x 170'10", more or less.



AT 11:30 A.M.
4115 PENHURST AVENUE
"West Arlington"


LOCATION MAP

       Located off the 4500 block of Granada Avenue, 21215. The property is improved by a three story frame cottage, previously arranged for 2 apartments; renovation is required. According to public tax records, the home was constructed in 1910 and is believed to contain 2,861 square feet of living area, 1,514 square feet of basement space, and one-car garage; lot size 50' x 150', more or less.

       TERMS OF SALE: A $5,000 DEPOSIT ON EACH PROPERTY, 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 City at the offices of Rosenberg Martin Funk Greenberg, 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 Notes executed in connection with the foreclosed Deeds of Trust, from date of sale to date of settlement. All adjustments as of date of sale. Taxes 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 Trustees, 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 Trustees 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 Trustees, 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.

Robert F. Smith and Mark D. Knobloch, Trustees