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I EMMS ui- SALh: Cash. A deposit of 10% of the successful bid, in cash or cashier's check payable to the Substitute Trustees will be required at the time of sale, with the balance due within fifteen (15) days of sale. In the event of default by the successful bidder, the deposit shall be forfeited and applied to the costs and expenses of sale and Substitute Trustees' fee. All costs of conveyancing (which shall be by special warranty deed), including examination of title, recording charges, and Grantor tax, to be at the cost of purchaser, along with past-due and current real estate taxes adjusted to date of sale. The Substitute Trustees reserve the right to reject all bids, extend the time to receive bids, withdraw the property from sale, waive the deposit requirement, and/or extend the period of time for settlement. Should the Substitute Trustees be unable, in their sole discretion, for any reason to convey marketable title to this property, then it shall be a term of this sale that the purchaser's sole remedy in law or equity shall
be the refund of deposit only. Upon refund of the deposit, the sale shall be void and of no effect.
Written notice of this Substitute Trustees' sale, as required by Section 55-59.1 of the 1950 Code of Virginia, as amended, has been sent to the property owner as his address appears in the records of the noteholder and to all parties prescribed therein.
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