Robert S. Glushakow, Solicitor
Nolan, Plumhoff & Williams, Chartered
502 Washington Avenue, Suite 700
Towson, Maryland 21204

SUBSTITUTE TRUSTEES' AUCTION

PERRYVILLE - BEACON POINT

4 Bedroom2½ Bath
COLONIAL HOME

Photos of auction property
FRONT VIEW     LOCATION MAP

Sale On Premises
515 LIGHTHOUSE ROAD
I-95 to MD-222 south to St. Marks Church Rd.
east to Beacon Point Rd. south to Lighthouse Rd.

Cecil County, Maryland 21903

THURSDAY, OCTOBER 4, 2007
AT 11:00 A.M.


       Under and by virtue of the power of sale contained in a certain Purchase Money Deed of Trust from William James R. Berger, III and Mary C. Berger to G. Ronald Jobson, Trustee, dated December 3, 1998, and recorded among the Land Records of Cecil County, Maryland, in Liber 0767, Page 185, the holder of the indebtedness secured thereby having appointed Robert S. Glushakow and Douglas L. Burgess 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 that fee simple lot 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.

       According to public tax records, the property comprises 0.36 acres, more or less, with improvements constructed in 1999. The improvements are believed to comprise a brick and siding colonial-style home, believed to contain a living room, dining room, kitchen, family room, 4 bedrooms, 2.5 baths, basement; fireplace; sun deck; porch; patio; balcony; gas forced hot air heat; central air conditioning; four-car driveway.

       The property, which is improved by a dwelling, 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.

TERMS OF SALE

       A $20,000.00 deposit, 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 if the property is purchased by the Deed of Trust Noteholder . 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. 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 and recording charges 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 property to be further developed or subdivided, the existence or non-existence of lead paint or any existent or latent environmental condition affecting the property and the improvements. The sale shall be subject to any housing code violations, easements, agreements, tenancies, restrictions 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 property, 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 property 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 property. Purchaser shall be responsible for obtaining physical possession of the property, and the risk of loss shall be assumed by the purchaser from the date of sale. If the Substitute Trustees is 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.

Robert S. Glushakow and Douglas L. Burgess,
Substitute Trustees

No Buyer's Premium