Robert S. Glushakow, Solicitor
Nolan, Plumhoff & Williams, Chartered
502 Washington Avenue - Suite 700
Towson, Maryland 21204
(410) 823-7800

Substitute Trustees'/Successor Trustees' ("Substitute Trustees") Sale

- ABERDEEN, MD -

Outstanding Potential
COMMERCIAL & RESIDENTIAL
DEVELOPMENT PARCEL

35.642 Acres±Zoned R-2, R-3 & B-3

Fronting on MD Route 22 (0.5 mile East of I-95)
W. Bel Air Avenue and Bouzarth Lane

- Formerly Known As -
THE MEWS AT MARKETPLACE

Photo of

Sale On Premises
END OF BOUZARTH LANE
North of W. Bel Air Avenue
Harford County, Maryland 21001

WEDNESDAY, MAY 30, 2007
AT 11:00 A.M.


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       Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust from 612 LLC to the Trustees therein, dated July 30, 2003, and recorded among the Land Records of Harford County, Maryland, in Liber 4825, Page 0277, the holder of the Guaranty of Payment and Performance secured thereby having appointed Robert S. Glushakow and Douglas L. Burgess to act as Substitute Trustees, in place and stead of the aforementioned Trustees, 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, in proceedings before the Circuit Court for Harford County, Case No. 12-C-06-002388FC, on the premises, the following:

       All that fee simple parcel of ground and the improvements thereon, situate and lying in Harford County, State of Maryland and being more fully described in the above-referenced Indemnity Deed of Trust.

       METES AND BOUNDS DESCRIPTION (pdf)

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       The property is an irregular configuration, fronting along the south side of Maryland Route 22 (opposite the Aberdeen Fire Department), along the north side of W. Bel Air Avenue and along the east side of Bouzarth Lane. Public utilities are believed to be available, but all bidders and prospective bidders are advised to perform their own due diligence. Route 22, at the subject property, is a divided boulevard. W. Bel Air Avenue and Bouzarth Lane are two-way roadways. Bouzarth Lane dead ends at the subject property. Portions of the site are believed to be located in R-2 and R-3 residential districts and over 9 acres is believed to be zoned B-3, general business district. The property is wooded and appears to be fairly level.

       Prospective purchasers are encouraged to perform their own due diligence in advance of the auction with respect to zoning status and the permitted uses of the site. The property 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 $250,000.00 deposit, payable by certified check or cashier's check will be required of the purchaser at time and place of sale. No deposit will be required of the Deed of Trust Beneficiary if the property is purchased by the Deed of Trust Beneficiary. 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 Harford 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. The Deed of Trust Beneficiary 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 Promissory Note filed in these proceedings, 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 Beneficiary 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 status of preliminary plan approvals or approvals from the Town of Aberdeen and governmental authorities having jurisdiction ove rthe property, the existence or non-existence of hazardous waste or any existent or latent environmental condition affecting the property and the improvements. In that the sale is without representation or warranties, there are no further representations or warranties as to (I) the value, profitability, development potential, or marketability of the property; (ii) the suitability of the property for any particular purpose; (iii) the compliance or noncompliance of the property with any laws, rules, regulations, orders or requirements of governmental authorities, including, but not limited to, those pertaining to the development and subdivision of the property; (iv) the presence, absence, or delineation of any non-tidal wetlands upon the property, as defined by applicable law or regulation; (v) the adequacy of utilities, the installation of utilities, water, sewer, and other utility service to the property; (vi) the condition of soils on the property; and/or (vii) any other matter relating to the property and its development.

       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, and obtaining or finalizing development approvals. 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 Beneficiary, 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