Jeffrey M. Kotz, Solicitor
Kandel, Klitenic, Kotz & Betten, LLP
502 Washington Avenue, Suite 610
Towson, Maryland 21204
(410) 339-7100

SUBSTITUTE TRUSTEES' AUCTION

ELKTON-NEWARK AREA

2 - RESIDENTIAL
PARCELS OF LAND

Zoned S-R, "Suburban Residential"
Development Potential

Photos of auction property
AERIAL VIEW     TAX MAP     LOCATION MAP

Comprising
2002 BARKSDALE ROAD - 1.38 ACRES±
Also Known As Parcel 288, Grid 24, Cecil County Tax Map 14
- And -

ADJOINING TRACT - 24.40 ACRES±
Also Known As Parcel 45, Grid 24, Cecil County Tax Map 14

Sale On Premises
North Side - Barksdale Road
Approximately 0.2 Mile West of Maryland-Delaware Line
Cecil County, Maryland 21921

TUESDAY, NOVEMBER 13, 2007
AT 3:00 P.M.

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       Under and by virtue of the power of sale contained in a certain Purchase Money Deed of Trust from W. Harris Construction, Inc. to Wilmington Savings Fund Society, FSB, Trustee, dated January 13, 2006, and recorded among the Land Records of Cecil County, Maryland, in Liber 2072, Page 025, the holder of the indebtedness secured thereby having appointed Jeffrey M. Kotz and Robert S. Glushakow to act as Substitute Trustees, in place and stead of the aforementioned Trustee, by instrument duly executed, acknowledged and recorded among the Land Records aforesaid, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Substitute 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 Cecil County, State of Maryland and being more fully described in the above-referenced Deed of Trust. The legal descriptions of which are incorporated by reference.

       The properties consist of adjacent parcels. The parcels are believed to be zoned S-R, "Suburban Residential," which may have development potential.

       2002 Barksdale Road - is believed to comprise 1.38 acres, more or less and is subject to the following rights of ways all of which are recorded among the Land Records of Cecil County: Right of Way recorded at Liber WAS, No 205, folio 352, Right of Way recorded at Liber WLB No. 653, folio 923, and Right of Way recorded at Liber RRC No. 23, folio 15.

       Adjoining Acreage Parcel - is believed to comprise 24.40 acres, more or less, fronting Barksdale Road and bounds 2002 Barksdale Road. This Adjoining Parcel is subject to a Right of Way Agreement recorded among the Land Records of Cecil County at Liber NDS, No. 432, folio 235.


MANNER OF SALE

       Each parcel will be offered individually and the bids reserved. Then, both parcels will be offered as an entirety and sold in the manner producing the greater amount.

       The properties will be sold in AS-IS, WHERE-IS condition and subject to conditions, restrictions, and agreements of record affecting the same, with no warranty of any kind, express or implied. Prospective purchasers are strongly encouraged to perform their own due diligence regarding the development potential of the parcels, if any.


TERMS OF SALE

       A $10,000.00 deposit on each parcel, or $20,000 if sold as an entirety, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale. The deposit is to be increased to ten percent (10%) of the purchase price within twenty-four (24) hours at the office of the Auctioneers. No deposit will be required of the Deed of Trust Noteholder or its wholly owned subsidiary if the property is purchased by the Deed of Trust Noteholder or its wholly owned subsidiary. 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 Cecil County. TIME IS OF THE ESSENCE FOR THE PURCHASER. If payment of the balance does not take place within the specified time, the deposit shall be forfeited, the property will be resold at the risk and expense of the defaulting purchaser, and the defaulting purchaser shall be required to pay a reasonable fee of not less than $750.00 as a payment for fees and costs associated with the procedures giving rise to the re-sale of the property. The Deed of Trust Noteholder shall be entitled to all excess proceeds under a resale of the property. Interest to be charged on the unpaid purchase money at the rate stated in the foreclosed Deed of Trust Note, from date of sale to date of settlement, if the properties are purchased by someone other than the Deed of Trust Noteholder or its wholly owned subsidiary. All adjustments as of date of sale. Taxes and all other public charges and assessments for the current year, 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. All costs incident to the settlement shall be paid by the purchaser with all costs of documentary stamps, transfer taxes, recording charges and agricultural transfer tax, if any, to be paid by the purchaser. The Substitute Trustees and the Deed of Trust Noteholder shall pay no costs of any kind for closing the transaction. The property will be sold in "AS IS WHERE-IS" condition, without express or implied warranty as to the nature, condition and/or description of the improvements, the ability of the properties to be further developed or subdivided, the ability of the properties to obtain concept plan approval, development approval, subdivision approvals, building permits, grading permits, the ability of the properties to support wells, septic systems, and/or the ability of the properties to successfully support percolation. No representation or warranty, express or implied, is being made by the Substitute Trustees, the Deed of Trust Noteholder, the solicitors and/or the auctioneers. The sale of the properties is at all times subject to the laws, ordinances, and regulations governing the subdivision and development of the properties adopted by those governmental authorities having jurisdiction over the properties. All prospective purchasers are encouraged to undertake their own investigation, due diligence and review of the properties. In that the sale is without representation or warranties, express or implied, there are no further representations or warranties as to (i) the value, profitability, development potential, or marketability of the properties; (ii) the suitability of the properties for any particular purpose; (iii) the compliance or noncompliance of the properties with any laws, rules, regulations, orders, ordinances, or requirements of governmental authorities, including, but not limited to, those pertaining to the development and subdivision of the properties; (iv) the presence, absence, or delineation of any non-tidal wetlands or streams upon the properties, as defined by applicable law or regulation; (v) the adequacy of public utilities, the installation of public utilities, water, sewer, and other utility service to the properties or at the property lines of the subject parcels; (vi) the need or requirement of offsite easements; (vii) the condition of soils on the properties; and/or (viii) any other matter relating to the properties and their development. No representation or warranties are provided as to the existence or non-existence of lead paint or any existent or latent environmental conditions affecting the properties and the improvements located thereon. The sale shall be subject to any housing code violations, easements, agreements, tenancies, restrictions, right of way agreements, and/or covenants of record affecting same, if any. Conveyance shall be by Substitute Trustees' Deed without covenant or warranty, express or implied. The purchaser shall be responsible for complying with the registration of the properties and the improvements, if applicable. If settlement is delayed for any reason, there will be no abatement of interest. This Advertisement may be amended or supplemented by oral announcements during the conduct of the sale, and any such announcements shall constitute further terms or conditions upon which the above described property will be offered for sale. The Substitute Trustees may reject and withdraw a bid by a prospective bidding purchaser at sale, if the Substitute Trustees determine that any bid so offered is not commensurate with the value of the properties being foreclosed upon. The highest bidder acknowledged by the Substitute Trustees shall be the Purchaser, and in the event of any dispute among the bidders, the Substitute Trustees shall have the sole and absolute final discretion to determine the successful bidder or to resell the properties. Purchaser shall be responsible for obtaining physical possession of the properties, and the risk of loss shall be assumed by the purchaser from the date of sale. If the Substitute Trustees are unable to convey good and marketable fee simple 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 Substitute Trustees, the Deed of Trust Noteholder, the Solicitors or Auctioneer. The right to postpone, set over, or cancel the sale prior to the scheduled sale is reserved by the Substitute Trustees. Any such postponement, setting over, or cancellation will be announced on the scheduled date of sale.

Jeffrey M. Kotz and Robert S. Glushakow
Substitute Trustees

No Buyer's Premium