FORECLOSURE SALE ADVERTISEMENT

AND

TERMS OF SALE

Ober, Kaler, Grimes & Shriver

A Professional Corporation

SUBSTITUTE TRUSTEES’ SALE OF VALUABLE COMMERCIAL

REAL PROPERTY KNOWN AS:

Ashburton Woods Apartments

3001-3011 Carlisle Avenue

2730-2748 N. Longwood Street

2742-2750 N. Rosedale Street

3103-3137 and 3114-3142 Artaban Place

Baltimore, Maryland 21216

Located in Baltimore City, Maryland

SALE TO BE HELD ON THE COURTHOUSE STEPS,

CIRCUIT COURT FOR BALTIMORE CITY, MARYLAND

AT THE CLARENCE M. MITCHELL, JR. COURTHOUSE,

CALVERT STREET ENTRANCE

100 North Calvert Street, Baltimore, Maryland 21202

MARCH 17, 2010

AT 11:00 A.M.

Under and by virtue of a power of sale contained in a Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated September 12, 2006 and recorded among the land records of Baltimore City, Maryland on October 10, 2006 in Book 8441, page 715 from Jin Suk Kim, as grantor (the “Deed of Trust”), the undersigned Substitute Trustees, at the request of the Beneficiary of the Deed of Trust (the “Beneficiary”), will offer for sale at public auction on the Courthouse Steps as aforesaid, at 11:00 a.m. on Wednesday, March 17, 2010 the real property and the improvements thereon (the “Property”) granted to the Substitute Trustees by the Deed of Trust, the Property being generally described as follows:

BEGINNING for the first thereof at the intersection of the southwest side of Longwood Street and the southeast side of Carlisle Avenue and running thence, binding on said southwest side of Longwood Street, south 21 degrees 43 minutes 46 seconds east 220.78 feet, thence, at right angles to said Longwood Street, south 68 degrees 16 minutes 14 seconds west 100 feet to the northeast side of a 16 foot alley there situate thence binding on the northeast side of said alley with the use thereof in common with others north 21 degrees 43 minutes 46 seconds west 32.27 feet thence, at right angles to said Longwood Street, south 68 degrees 16 minutes 14 seconds west 115 feet to the northeast side of Rosedale Street, thence binding on said northeast side of Rosedale Street, the three following courses and distances, namely: north 21 degrees 43 minutes 46 seconds west 102.86 feet, northwesterly, by a line curving to the right with a 191.13 feet radius the distance of 74.29 feet and north 0 degrees 32 minutes 25 seconds east 22.62 feet to said southeast side of Carlisle Avenue, thence, binding on said southeast side of Carlisle Avenue, easterly by a line curving to the left with a 220 foot radius the distance of 60.45 feet and north 68 degrees 16 minutes 14 seconds east 132.49 feet to the place of beginning. The improvements thereon being known as Nos. 2730-2748 Longwood Street and 3001-3011 Carlisle Avenue.­

BEGINNING for the second thereof at the intersection of the southwest side of Rosedale Street and the southeast side of Carlisle Avenue, said point being in the fifth line of the land described in a deed from Harriet Peek to George R. Vickers, dated August 22, 1886 and recorded among the Land Records of Baltimore County in Liber J.H.L. No. 50, folio 140, and running thence binding on said southwest side of Rosedale Street, south 0 degrees 32 minutes 25 seconds west 22.62 feet southeasterly by a line curving to the left with a 241.13 feet radius the distance of 93.72 feet and south 21 degrees 43 minutes 46 seconds east 65 feet to the northwest side of Artaban Place, thence continuing said last course and crossing said Artaban Place, south 21 degrees 43 minutes 46 seconds east 50 feet to the southeast side of thereof, thence binding on said southeast side of Artaban Place, south 68 degrees 16 minutes 14 seconds west 31 feet and southeasterly by a line curving to the left with a 336.76 foot radius the distance of 85.85 feet to the southwest side of a 16 foot alley there situate, thence, binding on the southwest side of said alley with the use thereof in common with others, south 21 degrees 43 minutes 46 seconds east 139.23 feet to the northwest side of a 16 foot alley there situate, thence binding on the northwest side of said last mentioned alley with the use thereof in common with others, south 68 degrees 16 minutes 14 seconds west 137.70 feet, south 53 degrees 39 minutes 50 seconds west 113.99 feet and south 71 degrees 56 minutes 50 seconds west 115.08 feet to the northeast side of Ellamont Avenue, thence, binding on said northeast side of Ellamont Avenue, north 2 degrees 38 minutes 40 seconds west 218.40 feet to intersect said before mentioned fifth line of land described in a deed from Harriet Peek to George R. Vickers, thence, binding on said fifth line north 44 degrees 29 minutes east 476.19 feet to the place of beginning. The improvements thereon being known as Nos. 2742-50 Rosedale Street and 3114-3142 and 3103-3137 Artaban Place.

The Property is believed to consist of a multi-unit apartment complex. While this information as to the nature and description or use of the Property has been obtained from sources deemed reliable and is believed to be accurate, no representations are made as to the presence, absence, development status or condition of improvements on or about the Property.

TERMS OF SALE:

Cash. The Property will be offered for sale in an “AS IS, WHERE IS” condition and will be conveyed by Substitute Trustees’ Deed subject to all encumbrances, rights, reservations, covenants, conditions, easements, restrictions and statutory liens, if any, having priority over the Deed of Trust, as they may lawfully affect the Property. The Property will be sold subject to the right of redemption of the United States of America, if such right exists.

The Substitute Trustees and the Beneficiary disclaim all warranties of any kind, either express or implied, for the Property, including, without limitation, any warranty relating to the zoning, structural integrity, physical condition, condition of the soil, extent of construction, workmanship, materials, habitability, environmental condition, compliance with applicable laws, fitness for a particular purpose and merchantability.

The Property shall be sold subject to all conditions and dedications contained on the subdivision plats, easements, liens, conditions, restrictions, rights of redemption, rights of entry, covenants, encumbrances, and agreements of record affecting the same (collectively, “Liens”), if such Liens have priority over the Deed of Trust, and subject to all applicable homeowners’ association organizational documents or other regimes, all existing housing, building and zoning code violations, subject to all environmental problems and violations which may exist on or with respect to the Property, and subject to all matters that an accurate survey or physical inspection of the Property might disclose. The risk of loss or damage to the Property shall be borne by the successful bidder from and after the date and time of the sale. Obtaining possession of the Property shall be the sole responsibility of the successful bidder. The Circuit Court for Baltimore City, Maryland has appointed a receiver for the Property. The court-appointed receiver for the Property shall continue to collect rents from the tenants of the Property after the date of the sale pending further order of the Circuit Court for Baltimore City, Maryland.

A bidder’s deposit of Fifty Thousand Dollars ($50,000.00) in the form of certified check or cashier’s check (the “Deposit”) at the time of sale will be required of all purchasers other than the Beneficiary or its affiliate. The Deposit must be increased to ten percent (10%) of the purchase price before 3:00 pm on March 22, 2010 in the office of the auctioneer in the form of certified check or cashiers check. The deposit will not earn interest in the hands of the Substitute Trustees. The Beneficiary or its affiliate, if a bidder, shall not be required to post a deposit. The Substitute Trustees reserve the right (i) to waive or modify the deposit requirement; (ii) to approve the creditworthiness of any bidder or final purchaser; (iii) to withdraw all or part of the Property from sale at any time prior to the termination of bidding; (iv) to keep the bidding open for any length of time; (v) to reject any or all bids; and (vi) to postpone the sale and conduct other sales as the Substitute Trustees may determine in their discretion.

Immediately after the sale, the successful bidder shall execute and deliver a contract of sale with the Substitute Trustees for the Property incorporating the terms and conditions hereof, a copy of which shall be available for inspection prior to the sale, and shall deliver to the Substitute Trustees the Deposit.

The balance of the purchase price for the Property, together with interest at 10.00% per annum from the date of sale to the date of settlement, shall be paid in cash within twenty (20) days after final ratification of the sale of the Property by the Circuit Court for Baltimore City, Maryland, time being of the essence with regard to all of the purchaser’s obligations.

Settlement on the sale of the Property shall take place at the law offices of Ober, Kaler, Grimes & Shriver, P.C., 120 East Baltimore Street, Baltimore, Maryland 21202, or such other place as is agreeable to the parties. Real estate taxes, water, ground rents and other municipal liens and charges and all other public charges and assessments payable on an annual basis or otherwise shall be adjusted to date of sale and assumed thereafter by the purchaser. The purchaser shall pay all settlement costs, including title examination charges, title insurance premiums, county and state recordation and transfer taxes and recording costs. The purchaser shall pay all costs incidental to the conveyance of the Property. The purchaser shall pay at settlement reasonable attorneys’ fees and disbursements incurred in the preparation of the deed of conveyance and other settlement documentation. If the Beneficiary or its affiliate is the purchaser of the Property at the sale, the amount bid at the sale by the Beneficiary or its affiliate shall be a credit against the indebtedness secured by the Deed of Trust.

If any successful bidder fails for any reason to complete settlement as provided above, the Deposit shall be forfeited and applied to the costs of the sale, including Substitute Trustees’ fees, and the balance, if any, shall be delivered to the Beneficiary to be applied by the Beneficiary against the indebtedness secured by, and other amounts due under, the Deed of Trust in accordance with the Deed of Trust or applicable law or otherwise as the Beneficiary shall elect. There shall be no refunds.

Such forfeiture shall not limit any rights or remedies of the Substitute Trustees or the Beneficiary with respect to any such default. After any such default and forfeiture, the Property may at the discretion of the Substitute Trustees be conveyed to the next highest bidder on the Property whose bid was acceptable to the Substitute Trustees. If, instead, the Property is resold, such re-sale shall be at the risk and the cost of the failing bidder, and the failing bidder shall be liable for any deficiency between its bid and the successful bid at the re-sale as well as the costs of conducting such re-sale. In the event the Substitute Trustees do not execute a deed of conveyance or other necessary settlement documents, the purchaser’s sole remedy shall be the refund of the Deposit. Immediately upon conveyance by the Substitute Trustees of the Property to a purchaser at foreclosure, all duties, liabilities, and obligations of the Substitute Trustees, if any, with respect to the Property so conveyed shall be extinguished.

The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only. Neither the Beneficiary nor the Substitute Trustees make any representations or warranties with respect to the accuracy of this information.

The Substitute Trustees reserve the right to modify the requirements for the Deposit, to withdraw all or any part of the Property from the sale, to postpone the sale, and to conduct such other sales as the Substitute Trustees may determine in their sole discretion. Additional terms and conditions may be announced at the time of sale.

DIANE FESTINO SCHMITT

WALTER R. KIRKMAN

Substitute Trustees

For further information please contact:

Harvey West Auctioneers, LLC

300 East Joppa Road, Suite 1103

Towson, Maryland 21286

(410) 769-9797 (telephone)

(410) 828-6856 (facsimile)

www.hwestauctions.com