DLA Piper LLP (US) 6225 Smith Avenue Baltimore, Maryland

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2 DLA Piper LLP (US) 6225 Smith Avenue Baltimore, Maryland SUBSTITUTE TRUSTEES SALE OF SEVEN TOWNHOMES LOCATED IN THE RIDGELY FOREST DEVELOPMENT OF ELKTON MARYLAND (LOTS 15, 43-48); EACH LOT CONSISTING OF A 3 LEVEL TOWNHOME WITH 3 BEDROOMS, 2.5 BATHS AND AN ATTACHED GARAGE WEDNESDAY, AUGUST 8, 2018 ELEVEN O CLOCK (11:00) A.M. SALE TO BE HELD AT 6 BLACKGUM ROAD, ELKTON, MARYLAND Under and by virtue of a power of sale contained in a Purchase Money Deed of Trust, Assignment and Security Agreement (the Deed of Trust ) dated December 28, 2011, and recorded on January 3, 2012 among the Land Records of Cecil County, Maryland (the Land Records ) in Liber 3127, folio 153, Richard M. Kremen, Dale K. Cathell, and Kristy N. Grace, Substitute Trustees under the Deed of Trust, having been appointed by an instrument duly executed, acknowledged and recorded among the Land Records (collectively, the Substitute Trustees are called the Trustees ), default having occurred under the terms of the Deed of Trust and at the request of the beneficiary, will offer for sale at public auction at 6 Blackgum Road, Elkton, Maryland on Wednesday, August 8, 2018 at eleven o clock (11:00) a.m. the following: BEING KNOWN AND DESIGNATED AS Lot No. 15 (No. 29 Magnolia Drive), Lot No. 43 (No. 12 Blackgum Road), Lot No. 44 (No. 10 Blackgum Road), Lot No. 45 (No. 8 Blackgum Road), Lot No. 46 (No. 6 Blackgum Road), Lot No. 47 (No. 4 Blackgum Road), Lot No. 48 (No. 2 Blackgum Road), as shown on a plat entitled, Final Plat Phase II, Ridgely Forest, which plat is recorded among the Land Records of Cecil County in Plat Cabinet No folio 58. NOTE FOR INFORMATIONAL PURPOSES ONLY: Tax ID Nos TOGETHER WITH all buildings, improvements and fixtures thereon and all rights, privileges and appurtenances in any way belonging thereto and other property of every kind and nature attached thereto owned by the grantor and subject to the Deed of Trust (collectively, with the abovedescribed land, the Property ).

3 Manner of Sale: Each lot will be offered individually and the highest bids received will be held in reserve. The lots will be offered in the following order: Lot No. 43 (12 Blackgum Road), Lot No. 44 (10 Blackgum Road), Lot No. 45 (8 Blackgum Road), Lot No. 46 (6 Blackgum Road), Lot No. 47 (4 Blackgum Road), Lot No. 48 (2 Blackgum Road), Lot No. 15 (29 Magnolia Drive). Then, the Property will be offered as an entirety and the highest bid received will be held in reserve. The Property will be sold in a manner producing the greatest amount. Terms of Sale: A deposit in the amount of $5, for each individual lot, and $35, for the Property as an entirety will be required at time of sale, such deposit to be in cashier s check, certified check or such other form as the Trustees may determine acceptable, in their sole discretion. Any such check shall be made payable to Richard M. Kremen, Dale K. Cathell, and Kristy N. Grace, Substitute Trustees. The secured party, if a bidder, shall not be required to post a deposit. The balance shall be paid in cash within ten (10) business days of the final ratification of sale by the Circuit Court for Cecil County. If payment of the balance does not take place by the aforesaid time, in addition to any other legal or equitable remedies available to them, the Trustees may declare the entire deposit forfeited and resell all or any of the Property at the risk and cost of the defaulting purchaser. In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, attorneys fees and all other charges incurred by the Trustees. In the event that any or all of the Property is purchased by someone other than the secured party, interest is to be paid on the unpaid purchase money at the rate of 6% per annum from date of sale to the day the funds are received by the Trustees. In the event that settlement is delayed for any reason and any or all of the Property is purchased by someone other than the secured party, there shall be no abatement of interest caused by the delay. Taxes, water rents and all other municipal liens and charges and all other public charges and assessments payable on an annual basis, if any, to be adjusted to date of sale and thereafter assumed by purchaser. The Property will be sold subject to all of the restrictions and conditions set forth in the Ridgely Forest Homeowners Association, Inc. Amended and Restated Declaration of Covenants, Conditions and Restrictions Land Use, Architectural Control, Common Area and Amenities dated April 1, 2008, recorded among the Land Records in Liber 2488, folio 210 on April 3, 2008, by-laws, and all other legal requirements set forth in the Ridgely Forest Homeowners Association documentation. The purchaser shall be responsible for any and all homeowners association fees due on the Property at the time of the conveyance of the Property. All settlement costs including county and state recordation and transfer taxes and recording costs shall be paid by purchaser. Additional terms may be announced at time of sale. The Property will be sold subject to all matters known and unknown, in AS IS, WHERE IS condition, without representation or warranty of any kind whatsoever, subject to all recorded and unrecorded tenancies, easements, agreements, declarations for any homeowners association, homeowners association by-laws, rights-of-way, liens, covenants, conditions and restrictions, existing code violations and environmental and other conditions, and all applicable federal, state, and local laws, ordinances and regulations affecting the Property to the extent any of the foregoing may apply to the Property, or any part thereof, and shall take priority over the liens and security interests of the Deed of Trust. The Purchaser shall be solely responsible, at the Purchaser s sole expense, for obtaining possession of the Property from and after settlement.

4 The Property will be sold subject to the notice set forth at Section 5(a) of the Ridgely Forest Declaration and Agreement for Deferred Water and Sewer Facilities Charges (the Declaration ) dated December 29, 2008, recorded among the Lands Records in Liber 2577, folio 616 on January 8, Section 5(a) of the Declaration provides as follows: NOTICE TO PURCHASERS OF REAL ESTATE IN THE TOWN OF NORTH EAST: This property is subject to a fee or assessment charged which purports to cover or defray the cost of installing all or part of the public water or sewer facilities constructed by the developer of the Ridgely Forest Subdivision. This fee or assessment is (1) One Dollar ($1.00) for the 1st year, and (2) Two Hundred Fifty Dollars ($250.00) for the 2nd through 41st year, payable annually in advance on the date of the Declaration and Agreement for Deferred Water and Sewer Facilities Charges dated 12/29/2008 (the Declaration ) for the first year, and on the first day of January of each year thereafter; the fee is payable to Ridgely Forest Water and Sewer Utility Company, LLC, having an address of 4685 Millennium Drive, Belcamp, Maryland 21017, and its successors and assigns (hereinafter called Lienholder ) until the 41st anniversary of the date of the Declaration. There may be a right of prepayment or discount for early payment which may be ascertained by contacting the Lienholder. The fee or assessment is a contractual obligation between the Lienholder and each owner of this property that runs with the land, and is not in any way a fee or assessment by The Town of North East or Cecil County. By acceptance of title to said Lot, the individual owners and succeeding owners of said Lot covenant and agree that they have received the aforesaid Notice to Purchasers of Real Estate in The Town of North East and that they shall incorporate said notice in any Contract of Sale selling the said Lot to succeeding owners. In the event said notice is not contained in any future Contract of Sale, the acceptance of title to said Lot is an acknowledgement that proper notice has been received in accordance with the spirit and intent of the provisions of the Declaration encumbering the property. The Trustees reserve: (1) the right to accept or reject any or all bids and to sell the Property in the manner which the Trustees determine, in the exercise of their sole discretion, provides the highest yield to the secured party; (2) the right to modify or waive the requirements for bidders deposits and terms of sale and/or settlement; (3) the right to withdraw all or any part of the Property from the sale prior to acceptance of the final bid; and (4) the right to cancel or postpone the sale. Neither the Trustees, the secured party, the auctioneer nor any other party makes any warranty or representation, either expressed or implied, of any kind or nature regarding the Property, including, without limitation, the description, use, structural integrity, physical condition, construction, workmanship, materials, habitability, subdivision, zoning, environmental condition, compliance with applicable laws, ordinances, or regulations, fitness for a particular purpose or merchantability of the Property. The purchaser shall assume the risk of loss for the Property immediately after the sale.

5 If the Trustees are unable to convey the Property as described above, by reason of any defect in the title or otherwise, the sole remedy of the purchaser at law or in equity shall be limited to the refund of the aforementioned deposit. Upon refund of the deposit to the purchaser, the sale shall be void and of no effect, and the purchaser shall have no further claims against the Trustees or the secured party. Title to the Property shall be conveyed by means of a trustees deed, without any representations, warranties or covenants of any kind whatsoever. At the time of sale, the purchaser shall be required to sign a contract of sale (the Contract of Sale ) which shall include, by reference, all the terms and conditions contained herein, specifically including, but not limited to, the following provisions: Purchaser agrees and represents that Purchaser is purchasing the Property subject to all matters known and unknown, in AS IS, WHERE IS condition. In executing and delivering the Contract of Sale, Purchaser recognizes Purchaser has not relied upon nor been induced by any statements or representations of any person, including the Trustees, the secured party or their respective agents, employees, successors and assigns (collectively, the Released Parties ), in respect of the condition of the Property, including the environmental condition of the Property. Purchaser has not relied on anything in any advertisement for the sale of the Property, but rather has relied solely on such investigations, examinations or inspections of the Property as Purchaser has made. Purchaser waives and releases the Released Parties from any and all claims Purchaser or its successors and assigns may have now or in the future relating to the condition of the Property. Purchaser acknowledges and agrees that this provision was a negotiated part of the Contract of Sale and serves as an essential component of consideration for the same. The parties specifically acknowledge and agree that this clause bars all claims by Purchaser against the Released Parties, arising from the condition of or releases from the Property pursuant to the Comprehensive Environmental Response, Compensations and Liability Act of 1980, as amended, and all other actions pursuant to federal, state or local laws, ordinances or regulations for any environmental condition of or releases from the Property. The form of Contract of Sale is available at the office of the auctioneer and will be available at the place of sale prior to the sale. Note: The information contained herein was obtained from sources deemed to be reliable, but is offered for information purposes only. Neither the Trustees, the secured party, the auctioneer or any other party makes any representations or warranties of any kind whatsoever with respect to the accuracy of the information contained herein. Interested bidders are urged to conduct such independent due diligence as they may deem necessary. Further information on the Property may be obtained at the office of the auctioneer. Atlantic Auctions, Inc. Richard M. Kremen, Dale K. Cathell, Kristy N. Grace Substitute Trustees

6 P.O. Box Philadelphia Rd. Belcamp, Maryland Jack Levi (410)

7 CONTRACT OF SALE THIS CONTRACT OF SALE (this Contract of Sale ) is made this day of August, 2018 by and between Richard M. Kremen, Dale K. Cathell, and Kristy N. Grace, as substitute trustees (collectively, the Substitute Trustees ) (any one may act for the other) and, as purchaser (the Purchaser ). Recitals At a public auction duly held on August 8, 2018 (the Auction ), the Purchaser submitted an acceptable bid for the purchase of the Property (as defined in paragraph 2 hereof), and the Substitute Trustees and the Purchaser desire to enter into this Contract of Sale to evidence the terms and conditions upon which the Substitute Trustees will sell, and the Purchaser will purchase, the Property. NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and the receipt of the Deposit (as defined in paragraph 3 hereof), the parties agree as follows: 1. Incorporation of Legal Advertisement. Attached hereto as Exhibit A and incorporated herein by reference is a true, correct and complete copy of the legal advertisement for the foreclosure sale of the Property (as defined in paragraph 2 hereof) by the Substitute Trustees (the Legal Advertisement ). Whenever possible, the terms and conditions of this Contract of Sale and the terms and conditions of the Legal Advertisement shall be read consistently; however, if any inconsistency shall be found to exist between the terms and conditions of this Contract of Sale and the terms and conditions of the Legal Advertisement, the terms and conditions of this Contract of Sale shall control. 2. Sale of Property. Subject to the terms and conditions set forth herein, the Substitute Trustees agree to sell, and the Purchaser agrees to purchase, all of the real property known as, Elkton, Maryland 21921, as more particularly described in the Legal Advertisement, together with all buildings, improvements and fixtures thereon and all rights, privileges and appurtenances in any way belonging thereto and other property of every kind and nature attached thereto, owned by the grantor, and subject to the Deed of Trust (as defined in the Legal Advertisement) (collectively, the Property ). 3. Receipt of Deposit. The undersigned Substitute Trustees acknowledge receipt from the Purchaser of a certified or cashier s check in the amount of $5,000 as a non-refundable deposit (the Deposit ). In the event the Purchaser timely proceeds to closing, the Deposit, without interest, will be applied to the payment of the Purchase Price (as defined in paragraph 4 hereof). If the Purchaser defaults, the Substitute Trustees shall have all rights and remedies specified in the Legal Advertisement, as well as those available at law or in equity. 4. Purchase Price. The purchase price for the Property is $ (the Purchase Price ). The balance of the Purchase Price must be paid in full by certified check or wire transfer of immediately available funds on or before the deadline for settlement specified EAST\

8 in the Legal Advertisement, time being of the essence. The Purchaser shall pay interest on the unpaid Purchase Price at the rate of 6 % per annum from the date of sale to the day the funds are received in the office of the Substitute Trustees. 5. Title. The Property is sold subject to all liens, encumbrances, homeowners association by-laws, declarations for the homeowners association, and other matters identified in the Legal Advertisement and all liens, encumbrances and other matters announced at the Auction (if any). The Substitute Trustees make no representations or warranties concerning title to the Property and disclaim any and all implied warranties with respect thereto. Title to the Property shall be conveyed by means of a trustees deed, without any representations, warranties or covenants of any kind whatsoever. 6. Value and Condition of Improvements. The Purchaser agrees and represents that the Purchaser is purchasing the Property subject to all matters known and unknown, in AS IS, WHERE IS condition. In executing and delivering the Contract of Sale, the Purchaser recognizes the Purchaser has not relied upon nor been induced by any statements or representations of any person, including the Trustees, the secured party or their respective agents, employees, successors and assigns (collectively, the Released Parties ), in respect of the condition of the Property, including the environmental condition of the Property. The Purchaser has not relied on anything in any advertisement for the sale of the Property, but rather has relied solely on such investigations, examinations or inspections of the Property as the Purchaser has made. 7. Release. The Purchaser waives and releases the Released Parties from any and all claims the Purchaser or its successors and assigns may have now or in the future relating to the condition of the Property. The Purchaser acknowledges and agrees that this provision was a negotiated part of the Contract of Sale and serves as an essential component of consideration for the same. The parties specifically acknowledge and agree that this clause bars all claims by the Purchaser against the Released Parties, arising from the condition of or releases from the Property pursuant to the Comprehensive Environmental Response, Compensations and Liability Act of 1980, as amended, and all other actions pursuant to federal, state or local laws, ordinances or regulations for any environmental condition of or releases from the Property. 8. Risk of Loss. Risk of loss or damage to the Property shall be borne by the Purchaser from and after the date of sale. 9. Possession. The Purchaser shall be solely responsible, at the Purchaser s sole expense, for obtaining possession of the Property from and after settlement. 10. Settlement. Settlement will be held in the offices of DLA Piper LLP (US), 6225 Smith Avenue, Baltimore, Maryland unless another location is mutually acceptable to the parties. 11. Assignment of Contract. The Purchaser may not assign any of its rights or delegate any of its duties under this Contract of Sale without the prior written consent of the secured party, which may be granted or withheld in the secured party s sole discretion. EAST\

9 12. Taxes, etc. Taxes, water rents and all other municipal liens and charges and all other public charges and assessments payable on an annual basis, if any, to be adjusted to date of sale and thereafter assumed by purchaser. All settlement costs including county and state recordation and transfer taxes and recording costs shall be paid by purchaser. All such amounts payable by Purchaser are in addition to the Purchase Price. 13. Ridgely Forest Homeowners Association Inc. Fees. The Property is sold subject to all of the restrictions and conditions set forth in the Ridgley Forest Homeowners Association, Inc. Amended and Restated Declaration of Covenants, Conditions and Restrictions Land Use, Architectural Control, Common Area and Amenities (as defined in the Legal Advertisement), bylaws, and all other legal requirements set forth in the Ridgely Forest Homeowners Association documentation. The purchaser shall be responsible for any and all homeowners association fees due on the Property at the time of the conveyance of the Property and shall be subject to the bylaws and other legal requirements of the Ridgely Forest Homeowners Association. 14. Deferred Water and Sewer Facilities Charges Notice. The Property is sold subject to the notice set forth at Section 5(a) of the Declaration and Agreement for Deferred Water and Sewer Facilities Charges (the Declaration ) (as defined in the Legal Advertisement). Section 5(a) of the Declaration provides as follows: NOTICE TO PURCHASERS OF REAL ESTATE IN THE TOWN OF NORTH EAST: This property is subject to a fee or assessment charged which purports to cover or defray the cost of installing all or part of the public water or sewer facilities constructed by the developer of the Ridgely Forest Subdivision. This fee or assessment is (1) One Dollar ($1.00) for the 1st year, and (2) Two Hundred Fifty Dollars ($250.00) for the 2nd through 41st year, payable annually in advance on the date of the Declaration and Agreement for Deferred Water and Sewer Facilities Charges dated 12/29/2008 (the "Declaration") for the first year, and on the first day of January of each year thereafter; the fee is payable to Ridgely Forest Water and Sewer Utility Company, LLC, having an address of 4685 Millennium Drive, Belcamp, Maryland 21017, and its successors and assigns (hereinafter called "Lienholder") until the 41st anniversary of the date of the Declaration. There may be a right of prepayment or discount for early payment which may be ascertained by contacting the Lienholder. The fee or assessment is a contractual obligation between the Lienholder and each owner of this property that runs with the land, and is not in any way a fee or assessment by The Town of North East or Cecil County. By acceptance of title to said Lot, the individual owners and succeeding owners of said Lot covenant and agree that they have received the aforesaid "Notice to Purchasers of Real Estate in The Town of North East" and that they shall EAST\

10 incorporate said notice in any Contract of Sale selling the said Lot to succeeding owners. In the event said notice is not contained in any future Contract of Sale, the acceptance of title to said Lot is an acknowledgement that proper notice has been received in accordance with the spirit and intent of the provisions of the Declaration encumbering the property. 15. Other Matters. All other matters concerning the sale and transfer of the Property, including, but not limited to, the rights and remedies available to the Substitute Trustees upon the Purchaser s default, shall be governed by the terms and conditions of the Legal Advertisement. 16. Exhibits. The following Exhibits are attached to and form a part of this Contract of Sale: Exhibit A Legal Advertisement IN WITNESS WHEREOF, the undersigned Substitute Trustees and the Purchaser have executed and delivered this Contract of Sale as of the date first above written. [Signature Block for Purchase by Corporation, LLC or other non-individual entity] WITNESS/ATTEST: PURCHASER: [Print Name of Purchaser] By: Name: Title: [Signature Block for Purchase by Individual] WITNESS/ATTEST: PURCHASER: Name: EAST\

11 WITNESS/ATTEST: SUBSTITUTE TRUSTEES: Richard M. Kremen, Substitute Trustee Dale K. Cathell, Substitute Trustee Kristy N. Grace, Substitute Trustee EAST\

12 [Notary Block for Purchase by Corporation, LLC or other non-individual entity] STATE OF MARYLAND ) COUNTY OF ) ) SS: I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared, who acknowledged him/herself to be the of and that he/she, in such capacity, being authorized to do so, executed this Contract of Sale for the purposes therein contained, by signing the name of as of. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public [Notary Block for Purchase by Individual] STATE OF MARYLAND ) COUNTY OF ) ) SS: I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared, known to me (or satisfactorily proven) to be the person whose name is subscribed to this Contract of Sale and acknowledged that (s)he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public EAST\

13 STATE OF MARYLAND ) ) SS: COUNTY OF ) I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared Richard M. Kremen, Substitute Trustee, known to me (or satisfactorily proven) to be the person whose name is subscribed to this Contract of Sale and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public STATE OF MARYLAND ) ) SS: COUNTY OF ) I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared Dale K. Cathell, Substitute Trustee, known to me (or satisfactorily proven) to be the person whose name is subscribed to this Contract of Sale and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public EAST\

14 STATE OF MARYLAND ) ) SS: COUNTY OF ) I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared Kristy N. Grace, Substitute Trustee, known to me (or satisfactorily proven) to be the person whose name is subscribed to this Contract of Sale and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public EAST\

15 Exhibit A Legal Advertisement EAST\

16 DLA Piper LLP (US) 6225 Smith Avenue Baltimore, Maryland SUBSTITUTE TRUSTEES SALE OF SEVEN TOWNHOMES LOCATED IN THE RIDGELY FOREST DEVELOPMENT OF ELKTON MARYLAND (LOTS 15, 43-48); EACH LOT CONSISTING OF A 3 LEVEL TOWNHOME WITH 3 BEDROOMS, 2.5 BATHS AND AN ATTACHED GARAGE WEDNESDAY, AUGUST 8, 2018 ELEVEN O CLOCK (11:00) A.M. SALE TO BE HELD AT 6 BLACKGUM ROAD, ELKTON, MARYLAND Under and by virtue of a power of sale contained in a Purchase Money Deed of Trust, Assignment and Security Agreement (the Deed of Trust ) dated December 28, 2011, and recorded on January 3, 2012 among the Land Records of Cecil County, Maryland (the Land Records ) in Liber 3127, folio 153, Richard M. Kremen, Dale K. Cathell, and Kristy N. Grace, Substitute Trustees under the Deed of Trust, having been appointed by an instrument duly executed, acknowledged and recorded among the Land Records (collectively, the Substitute Trustees are called the Trustees ), default having occurred under the terms of the Deed of Trust and at the request of the beneficiary, will offer for sale at public auction at 6 Blackgum Road, Elkton, Maryland on Wednesday, August 8, 2018 at eleven o clock (11:00) a.m. the following: BEING KNOWN AND DESIGNATED AS Lot No. 15 (No. 29 Magnolia Drive), Lot No. 43 (No. 12 Blackgum Road), Lot No. 44 (No. 10 Blackgum Road), Lot No. 45 (No. 8 Blackgum Road), Lot No. 46 (No. 6 Blackgum Road), Lot No. 47 (No. 4 Blackgum Road), Lot No. 48 (No. 2 Blackgum Road), as shown on a plat entitled, Final Plat Phase II, Ridgely Forest, which plat is recorded among the Land Records of Cecil County in Plat Cabinet No folio 58. NOTE FOR INFORMATIONAL PURPOSES ONLY: Tax ID Nos TOGETHER WITH all buildings, improvements and fixtures thereon and all rights, privileges and appurtenances in any way belonging thereto and other property of every kind and nature attached thereto owned by the grantor and subject to the Deed of Trust (collectively, with the above-described land, the Property ). EAST\

17 Manner of Sale: Each lot will be offered individually and the highest bids received will be held in reserve. The lots will be offered in the following order: Lot No. 43 (12 Blackgum Road), Lot No. 44 (10 Blackgum Road), Lot No. 45 (8 Blackgum Road), Lot No. 46 (6 Blackgum Road), Lot No. 47 (4 Blackgum Road), Lot No. 48 (2 Blackgum Road), Lot No. 15 (29 Magnolia Drive). Then, the Property will be offered as an entirety and the highest bid received will be held in reserve. The Property will be sold in a manner producing the greatest amount. Terms of Sale: A deposit in the amount of $5, for each individual lot, and $35, for the Property as an entirety will be required at time of sale, such deposit to be in cashier s check, certified check or such other form as the Trustees may determine acceptable, in their sole discretion. Any such check shall be made payable to Richard M. Kremen, Dale K. Cathell, and Kristy N. Grace, Substitute Trustees. The secured party, if a bidder, shall not be required to post a deposit. The balance shall be paid in cash within ten (10) business days of the final ratification of sale by the Circuit Court for Cecil County. If payment of the balance does not take place by the aforesaid time, in addition to any other legal or equitable remedies available to them, the Trustees may declare the entire deposit forfeited and resell all or any of the Property at the risk and cost of the defaulting purchaser. In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, attorneys fees and all other charges incurred by the Trustees. In the event that any or all of the Property is purchased by someone other than the secured party, interest is to be paid on the unpaid purchase money at the rate of 6% per annum from date of sale to the day the funds are received by the Trustees. In the event that settlement is delayed for any reason and any or all of the Property is purchased by someone other than the secured party, there shall be no abatement of interest caused by the delay. Taxes, water rents and all other municipal liens and charges and all other public charges and assessments payable on an annual basis, if any, to be adjusted to date of sale and thereafter assumed by purchaser. The Property will be sold subject to all of the restrictions and conditions set forth in the Ridgely Forest Homeowners Association, Inc. Amended and Restated Declaration of Covenants, Conditions and Restrictions Land Use, Architectural Control, Common Area and Amenities dated April 1, 2008, recorded among the Land Records in Liber 2488, folio 210 on April 3, 2008, by-laws, and all other legal requirements set forth in the Ridgely Forest Homeowners Association documentation. The purchaser shall be responsible for any and all homeowners association fees due on the Property at the time of the conveyance of the Property. All settlement costs including county and state recordation and transfer taxes and recording costs shall be paid by purchaser. Additional terms may be announced at time of sale. The Property will be sold subject to all matters known and unknown, in AS IS, WHERE IS condition, without representation or warranty of any kind whatsoever, subject to all recorded and unrecorded tenancies, easements, agreements, declarations for any homeowners association, homeowners association by-laws, rights-of-way, liens, covenants, conditions and restrictions, existing code violations and environmental and other conditions, and all applicable federal, state, and local laws, ordinances and regulations affecting the Property to the extent any of the foregoing may apply to the Property, or any part thereof, and shall take priority over the liens EAST\

18 and security interests of the Deed of Trust. The Purchaser shall be solely responsible, at the Purchaser s sole expense, for obtaining possession of the Property from and after settlement. The Property will be sold subject to the notice set forth at Section 5(a) of the Ridgely Forest Declaration and Agreement for Deferred Water and Sewer Facilities Charges (the Declaration ) dated December 29, 2008, recorded among the Lands Records in Liber 2577, folio 616 on January 8, Section 5(a) of the Declaration provides as follows: NOTICE TO PURCHASERS OF REAL ESTATE IN THE TOWN OF NORTH EAST: This property is subject to a fee or assessment charged which purports to cover or defray the cost of installing all or part of the public water or sewer facilities constructed by the developer of the Ridgely Forest Subdivision. This fee or assessment is (1) One Dollar ($1.00) for the 1st year, and (2) Two Hundred Fifty Dollars ($250.00) for the 2nd through 41st year, payable annually in advance on the date of the Declaration and Agreement for Deferred Water and Sewer Facilities Charges dated 12/29/2008 (the Declaration ) for the first year, and on the first day of January of each year thereafter; the fee is payable to Ridgely Forest Water and Sewer Utility Company, LLC, having an address of 4685 Millennium Drive, Belcamp, Maryland 21017, and its successors and assigns (hereinafter called Lienholder ) until the 41st anniversary of the date of the Declaration. There may be a right of prepayment or discount for early payment which may be ascertained by contacting the Lienholder. The fee or assessment is a contractual obligation between the Lienholder and each owner of this property that runs with the land, and is not in any way a fee or assessment by The Town of North East or Cecil County. By acceptance of title to said Lot, the individual owners and succeeding owners of said Lot covenant and agree that they have received the aforesaid Notice to Purchasers of Real Estate in The Town of North East and that they shall incorporate said notice in any Contract of Sale selling the said Lot to succeeding owners. In the event said notice is not contained in any future Contract of Sale, the acceptance of title to said Lot is an acknowledgement that proper notice has been received in accordance with the spirit and intent of the provisions of the Declaration encumbering the property. The Trustees reserve: (1) the right to accept or reject any or all bids and to sell the Property in the manner which the Trustees determine, in the exercise of their sole discretion, provides the highest yield to the secured party; (2) the right to modify or waive the requirements for bidders deposits and terms of sale and/or settlement; (3) the right to withdraw all or any part of the Property from the sale prior to acceptance of the final bid; and (4) the right to cancel or postpone the sale. Neither the Trustees, the secured party, the auctioneer nor any other party makes any warranty or representation, either expressed or implied, of any kind or nature regarding the EAST\

19 Property, including, without limitation, the description, use, structural integrity, physical condition, construction, workmanship, materials, habitability, subdivision, zoning, environmental condition, compliance with applicable laws, ordinances, or regulations, fitness for a particular purpose or merchantability of the Property. The purchaser shall assume the risk of loss for the Property immediately after the sale. If the Trustees are unable to convey the Property as described above, by reason of any defect in the title or otherwise, the sole remedy of the purchaser at law or in equity shall be limited to the refund of the aforementioned deposit. Upon refund of the deposit to the purchaser, the sale shall be void and of no effect, and the purchaser shall have no further claims against the Trustees or the secured party. Title to the Property shall be conveyed by means of a trustees deed, without any representations, warranties or covenants of any kind whatsoever. At the time of sale, the purchaser shall be required to sign a contract of sale (the Contract of Sale ) which shall include, by reference, all the terms and conditions contained herein, specifically including, but not limited to, the following provisions: Purchaser agrees and represents that Purchaser is purchasing the Property subject to all matters known and unknown, in AS IS, WHERE IS condition. In executing and delivering the Contract of Sale, Purchaser recognizes Purchaser has not relied upon nor been induced by any statements or representations of any person, including the Trustees, the secured party or their respective agents, employees, successors and assigns (collectively, the Released Parties ), in respect of the condition of the Property, including the environmental condition of the Property. Purchaser has not relied on anything in any advertisement for the sale of the Property, but rather has relied solely on such investigations, examinations or inspections of the Property as Purchaser has made. Purchaser waives and releases the Released Parties from any and all claims Purchaser or its successors and assigns may have now or in the future relating to the condition of the Property. Purchaser acknowledges and agrees that this provision was a negotiated part of the Contract of Sale and serves as an essential component of consideration for the same. The parties specifically acknowledge and agree that this clause bars all claims by Purchaser against the Released Parties, arising from the condition of or releases from the Property pursuant to the Comprehensive Environmental Response, Compensations and Liability Act of 1980, as amended, and all other actions pursuant to federal, state or local laws, ordinances or regulations for any environmental condition of or releases from the Property. The form of Contract of Sale is available at the office of the auctioneer and will be available at the place of sale prior to the sale. Note: The information contained herein was obtained from sources deemed to be reliable, but is offered for information purposes only. Neither the Trustees, the secured party, the auctioneer or any other party makes any representations or warranties of any kind whatsoever with respect to the accuracy of the information contained herein. Interested bidders are urged to conduct such independent due diligence as they may deem necessary. EAST\

20 Further information on the Property may be obtained at the office of the auctioneer. Atlantic Auctions, Inc. P.O. Box Philadelphia Rd. Belcamp, Maryland Jack Levi (410) Richard M. Kremen, Dale K. Cathell, Kristy N. Grace Substitute Trustees EAST\

21 CONTRACT OF SALE THIS CONTRACT OF SALE (this Contract of Sale ) is made this day of August, 2018 by and between Richard M. Kremen, Dale K. Cathell, and Kristy N. Grace, as substitute trustees (collectively, the Substitute Trustees ) (any one may act for the other) and, as purchaser (the Purchaser ). Recitals At a public auction duly held on August 8, 2018 (the Auction ), the Purchaser submitted an acceptable bid for the purchase of the Property (as defined in paragraph 2 hereof), and the Substitute Trustees and the Purchaser desire to enter into this Contract of Sale to evidence the terms and conditions upon which the Substitute Trustees will sell, and the Purchaser will purchase, the Property. NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein and the receipt of the Deposit (as defined in paragraph 3 hereof), the parties agree as follows: 1. Incorporation of Legal Advertisement. Attached hereto as Exhibit A and incorporated herein by reference is a true, correct and complete copy of the legal advertisement for the foreclosure sale of the Property (as defined in paragraph 2 hereof) by the Substitute Trustees (the Legal Advertisement ). Whenever possible, the terms and conditions of this Contract of Sale and the terms and conditions of the Legal Advertisement shall be read consistently; however, if any inconsistency shall be found to exist between the terms and conditions of this Contract of Sale and the terms and conditions of the Legal Advertisement, the terms and conditions of this Contract of Sale shall control. 2. Sale of Property. Subject to the terms and conditions set forth herein, the Substitute Trustees agree to sell, and the Purchaser agrees to purchase, all of the real property, as more particularly described in the Legal Advertisement, together with all buildings, improvements and fixtures thereon and all rights, privileges and appurtenances in any way belonging thereto and other property of every kind and nature attached thereto, owned by the grantor, and subject to the Deed of Trust (as defined in the Legal Advertisement) (collectively, the Property ). 3. Receipt of Deposit. The undersigned Substitute Trustees acknowledge receipt from the Purchaser of a certified or cashier s check in the amount of $35,000 as a non-refundable deposit (the Deposit ). In the event the Purchaser timely proceeds to closing, the Deposit, without interest, will be applied to the payment of the Purchase Price (as defined in paragraph 4 hereof). If the Purchaser defaults, the Substitute Trustees shall have all rights and remedies specified in the Legal Advertisement, as well as those available at law or in equity. 4. Purchase Price. The purchase price for the Property is $ (the Purchase Price ). The balance of the Purchase Price must be paid in full by certified check or wire transfer of immediately available funds on or before the deadline for settlement specified EAST\

22 in the Legal Advertisement, time being of the essence. The Purchaser shall pay interest on the unpaid Purchase Price at the rate of 6 % per annum from the date of sale to the day the funds are received in the office of the Substitute Trustees. 5. Title. The Property is sold subject to all liens, encumbrances, homeowners association by-laws, declarations for the homeowners association, and other matters identified in the Legal Advertisement and all liens, encumbrances and other matters announced at the Auction (if any). The Substitute Trustees make no representations or warranties concerning title to the Property and disclaim any and all implied warranties with respect thereto. Title to the Property shall be conveyed by means of a trustees deed, without any representations, warranties or covenants of any kind whatsoever. 6. Value and Condition of Improvements. The Purchaser agrees and represents that the Purchaser is purchasing the Property subject to all matters known and unknown, in AS IS, WHERE IS condition. In executing and delivering the Contract of Sale, the Purchaser recognizes the Purchaser has not relied upon nor been induced by any statements or representations of any person, including the Trustees, the secured party or their respective agents, employees, successors and assigns (collectively, the Released Parties ), in respect of the condition of the Property, including the environmental condition of the Property. The Purchaser has not relied on anything in any advertisement for the sale of the Property, but rather has relied solely on such investigations, examinations or inspections of the Property as the Purchaser has made. 7. Release. The Purchaser waives and releases the Released Parties from any and all claims the Purchaser or its successors and assigns may have now or in the future relating to the condition of the Property. The Purchaser acknowledges and agrees that this provision was a negotiated part of the Contract of Sale and serves as an essential component of consideration for the same. The parties specifically acknowledge and agree that this clause bars all claims by the Purchaser against the Released Parties, arising from the condition of or releases from the Property pursuant to the Comprehensive Environmental Response, Compensations and Liability Act of 1980, as amended, and all other actions pursuant to federal, state or local laws, ordinances or regulations for any environmental condition of or releases from the Property. 8. Risk of Loss. Risk of loss or damage to the Property shall be borne by the Purchaser from and after the date of sale. 9. Possession. The Purchaser shall be solely responsible, at the Purchaser s sole expense, for obtaining possession of the Property from and after settlement. 10. Settlement. Settlement will be held in the offices of DLA Piper LLP (US), 6225 Smith Avenue, Baltimore, Maryland unless another location is mutually acceptable to the parties. 11. Assignment of Contract. The Purchaser may not assign any of its rights or delegate any of its duties under this Contract of Sale without the prior written consent of the secured party, which may be granted or withheld in the secured party s sole discretion. EAST\

23 12. Taxes, etc. Taxes, water rents and all other municipal liens and charges and all other public charges and assessments payable on an annual basis, if any, to be adjusted to date of sale and thereafter assumed by purchaser. All settlement costs including county and state recordation and transfer taxes and recording costs shall be paid by purchaser. All such amounts payable by Purchaser are in addition to the Purchase Price. 13. Ridgely Forest Homeowners Association Inc. Fees. The Property is sold subject to all of the restrictions and conditions set forth in the Ridgley Forest Homeowners Association, Inc. Amended and Restated Declaration of Covenants, Conditions and Restrictions Land Use, Architectural Control, Common Area and Amenities (as defined in the Legal Advertisement), bylaws, and all other legal requirements set forth in the Ridgely Forest Homeowners Association documentation. The purchaser shall be responsible for any and all homeowners association fees due on the Property at the time of the conveyance of the Property and shall be subject to the bylaws and other legal requirements of the Ridgely Forest Homeowners Association. 14. Deferred Water and Sewer Facilities Charges Notice. The Property is sold subject to the notice set forth at Section 5(a) of the Declaration and Agreement for Deferred Water and Sewer Facilities Charges (the Declaration ) (as defined in the Legal Advertisement). Section 5(a) of the Declaration provides as follows: NOTICE TO PURCHASERS OF REAL ESTATE IN THE TOWN OF NORTH EAST: This property is subject to a fee or assessment charged which purports to cover or defray the cost of installing all or part of the public water or sewer facilities constructed by the developer of the Ridgely Forest Subdivision. This fee or assessment is (1) One Dollar ($1.00) for the 1st year, and (2) Two Hundred Fifty Dollars ($250.00) for the 2nd through 41st year, payable annually in advance on the date of the Declaration and Agreement for Deferred Water and Sewer Facilities Charges dated 12/29/2008 (the "Declaration") for the first year, and on the first day of January of each year thereafter; the fee is payable to Ridgely Forest Water and Sewer Utility Company, LLC, having an address of 4685 Millennium Drive, Belcamp, Maryland 21017, and its successors and assigns (hereinafter called "Lienholder") until the 41st anniversary of the date of the Declaration. There may be a right of prepayment or discount for early payment which may be ascertained by contacting the Lienholder. The fee or assessment is a contractual obligation between the Lienholder and each owner of this property that runs with the land, and is not in any way a fee or assessment by The Town of North East or Cecil County. By acceptance of title to said Lot, the individual owners and succeeding owners of said Lot covenant and agree that they have received the aforesaid "Notice to Purchasers of Real Estate in The Town of North East" and that they shall EAST\

24 incorporate said notice in any Contract of Sale selling the said Lot to succeeding owners. In the event said notice is not contained in any future Contract of Sale, the acceptance of title to said Lot is an acknowledgement that proper notice has been received in accordance with the spirit and intent of the provisions of the Declaration encumbering the property. 15. Other Matters. All other matters concerning the sale and transfer of the Property, including, but not limited to, the rights and remedies available to the Substitute Trustees upon the Purchaser s default, shall be governed by the terms and conditions of the Legal Advertisement. 16. Exhibits. The following Exhibits are attached to and form a part of this Contract of Sale: Exhibit A Legal Advertisement IN WITNESS WHEREOF, the undersigned Substitute Trustees and the Purchaser have executed and delivered this Contract of Sale as of the date first above written. [Signature Block for Purchase by Corporation, LLC or other non-individual entity] WITNESS/ATTEST: PURCHASER: [Print Name of Purchaser] By: Name: Title: [Signature Block for Purchase by Individual] WITNESS/ATTEST: PURCHASER: Name: EAST\

25 WITNESS/ATTEST: SUBSTITUTE TRUSTEES: Richard M. Kremen, Substitute Trustee Dale K. Cathell, Substitute Trustee Kristy N. Grace, Substitute Trustee EAST\

26 [Notary Block for Purchase by Corporation, LLC or other non-individual entity] STATE OF MARYLAND ) COUNTY OF ) ) SS: I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared, who acknowledged him/herself to be the of and that he/she, in such capacity, being authorized to do so, executed this Contract of Sale for the purposes therein contained, by signing the name of as of. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public [Notary Block for Purchase by Individual] STATE OF MARYLAND ) COUNTY OF ) ) SS: I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared, known to me (or satisfactorily proven) to be the person whose name is subscribed to this Contract of Sale and acknowledged that (s)he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public EAST\

27 STATE OF MARYLAND ) ) SS: COUNTY OF ) I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared Richard M. Kremen, Substitute Trustee, known to me (or satisfactorily proven) to be the person whose name is subscribed to this Contract of Sale and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public STATE OF MARYLAND ) ) SS: COUNTY OF ) I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared Dale K. Cathell, Substitute Trustee, known to me (or satisfactorily proven) to be the person whose name is subscribed to this Contract of Sale and acknowledged that he executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public EAST\

28 STATE OF MARYLAND ) ) SS: COUNTY OF ) I HEREBY CERTIFY that on this day of, 2018, before me, the undersigned officer, personally appeared Kristy N. Grace, Substitute Trustee, known to me (or satisfactorily proven) to be the person whose name is subscribed to this Contract of Sale and acknowledged that she executed the same for the purposes therein contained. IN WITNESS WHEREOF, I hereunto set my hand and Notarial Seal. My Commission expires: Notary Public EAST\

29 Exhibit A Legal Advertisement EAST\

30 DLA Piper LLP (US) 6225 Smith Avenue Baltimore, Maryland SUBSTITUTE TRUSTEES SALE OF SEVEN TOWNHOMES LOCATED IN THE RIDGELY FOREST DEVELOPMENT OF ELKTON MARYLAND (LOTS 15, 43-48); EACH LOT CONSISTING OF A 3 LEVEL TOWNHOME WITH 3 BEDROOMS, 2.5 BATHS AND AN ATTACHED GARAGE WEDNESDAY, AUGUST 8, 2018 ELEVEN O CLOCK (11:00) A.M. SALE TO BE HELD AT 6 BLACKGUM ROAD, ELKTON, MARYLAND Under and by virtue of a power of sale contained in a Purchase Money Deed of Trust, Assignment and Security Agreement (the Deed of Trust ) dated December 28, 2011, and recorded on January 3, 2012 among the Land Records of Cecil County, Maryland (the Land Records ) in Liber 3127, folio 153, Richard M. Kremen, Dale K. Cathell, and Kristy N. Grace, Substitute Trustees under the Deed of Trust, having been appointed by an instrument duly executed, acknowledged and recorded among the Land Records (collectively, the Substitute Trustees are called the Trustees ), default having occurred under the terms of the Deed of Trust and at the request of the beneficiary, will offer for sale at public auction at 6 Blackgum Road, Elkton, Maryland on Wednesday, August 8, 2018 at eleven o clock (11:00) a.m. the following: BEING KNOWN AND DESIGNATED AS Lot No. 15 (No. 29 Magnolia Drive), Lot No. 43 (No. 12 Blackgum Road), Lot No. 44 (No. 10 Blackgum Road), Lot No. 45 (No. 8 Blackgum Road), Lot No. 46 (No. 6 Blackgum Road), Lot No. 47 (No. 4 Blackgum Road), Lot No. 48 (No. 2 Blackgum Road), as shown on a plat entitled, Final Plat Phase II, Ridgely Forest, which plat is recorded among the Land Records of Cecil County in Plat Cabinet No folio 58. NOTE FOR INFORMATIONAL PURPOSES ONLY: Tax ID Nos TOGETHER WITH all buildings, improvements and fixtures thereon and all rights, privileges and appurtenances in any way belonging thereto and other property of every kind and nature attached thereto owned by the grantor and subject to the Deed of Trust (collectively, with the above-described land, the Property ). EAST\

31 Manner of Sale: Each lot will be offered individually and the highest bids received will be held in reserve. The lots will be offered in the following order: Lot No. 43 (12 Blackgum Road), Lot No. 44 (10 Blackgum Road), Lot No. 45 (8 Blackgum Road), Lot No. 46 (6 Blackgum Road), Lot No. 47 (4 Blackgum Road), Lot No. 48 (2 Blackgum Road), Lot No. 15 (29 Magnolia Drive). Then, the Property will be offered as an entirety and the highest bid received will be held in reserve. The Property will be sold in a manner producing the greatest amount. Terms of Sale: A deposit in the amount of $5, for each individual lot, and $35, for the Property as an entirety will be required at time of sale, such deposit to be in cashier s check, certified check or such other form as the Trustees may determine acceptable, in their sole discretion. Any such check shall be made payable to Richard M. Kremen, Dale K. Cathell, and Kristy N. Grace, Substitute Trustees. The secured party, if a bidder, shall not be required to post a deposit. The balance shall be paid in cash within ten (10) business days of the final ratification of sale by the Circuit Court for Cecil County. If payment of the balance does not take place by the aforesaid time, in addition to any other legal or equitable remedies available to them, the Trustees may declare the entire deposit forfeited and resell all or any of the Property at the risk and cost of the defaulting purchaser. In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, attorneys fees and all other charges incurred by the Trustees. In the event that any or all of the Property is purchased by someone other than the secured party, interest is to be paid on the unpaid purchase money at the rate of 6% per annum from date of sale to the day the funds are received by the Trustees. In the event that settlement is delayed for any reason and any or all of the Property is purchased by someone other than the secured party, there shall be no abatement of interest caused by the delay. Taxes, water rents and all other municipal liens and charges and all other public charges and assessments payable on an annual basis, if any, to be adjusted to date of sale and thereafter assumed by purchaser. The Property will be sold subject to all of the restrictions and conditions set forth in the Ridgely Forest Homeowners Association, Inc. Amended and Restated Declaration of Covenants, Conditions and Restrictions Land Use, Architectural Control, Common Area and Amenities dated April 1, 2008, recorded among the Land Records in Liber 2488, folio 210 on April 3, 2008, by-laws, and all other legal requirements set forth in the Ridgely Forest Homeowners Association documentation. The purchaser shall be responsible for any and all homeowners association fees due on the Property at the time of the conveyance of the Property. All settlement costs including county and state recordation and transfer taxes and recording costs shall be paid by purchaser. Additional terms may be announced at time of sale. The Property will be sold subject to all matters known and unknown, in AS IS, WHERE IS condition, without representation or warranty of any kind whatsoever, subject to all recorded and unrecorded tenancies, easements, agreements, declarations for any homeowners association, homeowners association by-laws, rights-of-way, liens, covenants, conditions and restrictions, existing code violations and environmental and other conditions, and all applicable federal, state, and local laws, ordinances and regulations affecting the Property to the extent any of the foregoing may apply to the Property, or any part thereof, and shall take priority over the liens EAST\

32 and security interests of the Deed of Trust. The Purchaser shall be solely responsible, at the Purchaser s sole expense, for obtaining possession of the Property from and after settlement. The Property will be sold subject to the notice set forth at Section 5(a) of the Ridgely Forest Declaration and Agreement for Deferred Water and Sewer Facilities Charges (the Declaration ) dated December 29, 2008, recorded among the Lands Records in Liber 2577, folio 616 on January 8, Section 5(a) of the Declaration provides as follows: NOTICE TO PURCHASERS OF REAL ESTATE IN THE TOWN OF NORTH EAST: This property is subject to a fee or assessment charged which purports to cover or defray the cost of installing all or part of the public water or sewer facilities constructed by the developer of the Ridgely Forest Subdivision. This fee or assessment is (1) One Dollar ($1.00) for the 1st year, and (2) Two Hundred Fifty Dollars ($250.00) for the 2nd through 41st year, payable annually in advance on the date of the Declaration and Agreement for Deferred Water and Sewer Facilities Charges dated 12/29/2008 (the Declaration ) for the first year, and on the first day of January of each year thereafter; the fee is payable to Ridgely Forest Water and Sewer Utility Company, LLC, having an address of 4685 Millennium Drive, Belcamp, Maryland 21017, and its successors and assigns (hereinafter called Lienholder ) until the 41st anniversary of the date of the Declaration. There may be a right of prepayment or discount for early payment which may be ascertained by contacting the Lienholder. The fee or assessment is a contractual obligation between the Lienholder and each owner of this property that runs with the land, and is not in any way a fee or assessment by The Town of North East or Cecil County. By acceptance of title to said Lot, the individual owners and succeeding owners of said Lot covenant and agree that they have received the aforesaid Notice to Purchasers of Real Estate in The Town of North East and that they shall incorporate said notice in any Contract of Sale selling the said Lot to succeeding owners. In the event said notice is not contained in any future Contract of Sale, the acceptance of title to said Lot is an acknowledgement that proper notice has been received in accordance with the spirit and intent of the provisions of the Declaration encumbering the property. The Trustees reserve: (1) the right to accept or reject any or all bids and to sell the Property in the manner which the Trustees determine, in the exercise of their sole discretion, provides the highest yield to the secured party; (2) the right to modify or waive the requirements for bidders deposits and terms of sale and/or settlement; (3) the right to withdraw all or any part of the Property from the sale prior to acceptance of the final bid; and (4) the right to cancel or postpone the sale. Neither the Trustees, the secured party, the auctioneer nor any other party makes any warranty or representation, either expressed or implied, of any kind or nature regarding the EAST\

33 Property, including, without limitation, the description, use, structural integrity, physical condition, construction, workmanship, materials, habitability, subdivision, zoning, environmental condition, compliance with applicable laws, ordinances, or regulations, fitness for a particular purpose or merchantability of the Property. The purchaser shall assume the risk of loss for the Property immediately after the sale. If the Trustees are unable to convey the Property as described above, by reason of any defect in the title or otherwise, the sole remedy of the purchaser at law or in equity shall be limited to the refund of the aforementioned deposit. Upon refund of the deposit to the purchaser, the sale shall be void and of no effect, and the purchaser shall have no further claims against the Trustees or the secured party. Title to the Property shall be conveyed by means of a trustees deed, without any representations, warranties or covenants of any kind whatsoever. At the time of sale, the purchaser shall be required to sign a contract of sale (the Contract of Sale ) which shall include, by reference, all the terms and conditions contained herein, specifically including, but not limited to, the following provisions: Purchaser agrees and represents that Purchaser is purchasing the Property subject to all matters known and unknown, in AS IS, WHERE IS condition. In executing and delivering the Contract of Sale, Purchaser recognizes Purchaser has not relied upon nor been induced by any statements or representations of any person, including the Trustees, the secured party or their respective agents, employees, successors and assigns (collectively, the Released Parties ), in respect of the condition of the Property, including the environmental condition of the Property. Purchaser has not relied on anything in any advertisement for the sale of the Property, but rather has relied solely on such investigations, examinations or inspections of the Property as Purchaser has made. Purchaser waives and releases the Released Parties from any and all claims Purchaser or its successors and assigns may have now or in the future relating to the condition of the Property. Purchaser acknowledges and agrees that this provision was a negotiated part of the Contract of Sale and serves as an essential component of consideration for the same. The parties specifically acknowledge and agree that this clause bars all claims by Purchaser against the Released Parties, arising from the condition of or releases from the Property pursuant to the Comprehensive Environmental Response, Compensations and Liability Act of 1980, as amended, and all other actions pursuant to federal, state or local laws, ordinances or regulations for any environmental condition of or releases from the Property. The form of Contract of Sale is available at the office of the auctioneer and will be available at the place of sale prior to the sale. Note: The information contained herein was obtained from sources deemed to be reliable, but is offered for information purposes only. Neither the Trustees, the secured party, the auctioneer or any other party makes any representations or warranties of any kind whatsoever with respect to the accuracy of the information contained herein. Interested bidders are urged to conduct such independent due diligence as they may deem necessary. EAST\

34 Further information on the Property may be obtained at the office of the auctioneer. Atlantic Auctions, Inc. P.O. Box Philadelphia Rd. Belcamp, Maryland Jack Levi (410) Richard M. Kremen, Dale K. Cathell, Kristy N. Grace Substitute Trustees EAST\

35 Sale to be held on the premises: Substitute Trustees Sale 2 Blackgum Road (Lot 48) End Unit 4 Blackgum Road (Lot 47) Center Unit 6 Blackgum Road (Lot 46) Center Unit 8 Blackgum Road (Lot 45) Center Unit 10 Blackgum Road (Lot 44) Center Unit 12 Blackgum Road (Lot 43) End Unit 29 Magnolia Drive (Lot 15) Center Unit Photo File Newly Constructed/Finished Residential Townhomes Elkton, Maryland

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89 7/11/2018 Tourism Cecil County Cecil County is located on the Upper Chesapeake Bay, midway between Philadelphia and Baltimore. Discover charming small towns, parks with miles of trails, specialty and antique shops, award winning restaurants, and inns. You can hike, bike, camp, bird watch, ride horseback, or drop a fishing line. Catch the action at the casino or at a family fun event. Five rivers, Chesapeake Bay and the C&D Canal can be explored by boat or by land. Experience panoramic views from Turkey Point Lighthouse on a bluff overlooking the Bay, or from the banks of the C&D Canal where ships from around the globe cruise. A scenic stroll through our beautiful area... Updated on 11/03/2017 4:02 PM Waterfowl wonders. Get off the highway and visit Cecil County. The sky's the limit! 1/2