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Settlement shall take place at the offices of Williams Mullen, 8270 Greensboro Drive, Suite 700, McLean, Virginia 22102. Purchaser shall pay all past due real estate taxes, rollback taxes, water rents, water permit renewal fees (if any) or other municipal liens, charges and as-, sessments. The Purchaser shall also pay all settlement fees, title examination charges, title-, charges, and title insurance premiums, all recording costs (including the state grantor's taxand all state and county recordation fees, clerk's filing fees and transfer fees and taxes), auc-r tioneer’s fees and/or bid premiums, and reasonable attorneys' fees and disbursements in-* curred in the preparation of the deed of conveyance and other settlement documentation.
The Purchaser shall be required to sign an agreement at settlement waiving any cause of. action the Purchaser may have against the Substitute Trustees, the Beneficiary and/or theAuctioneer for any condition with respect to the Property that may not be in compliance with: any federal, state or local law, regulation or ruling including, without limitation, any laws, regulation and ruling relating to environmental contamination or hazardous wastes Such agree-’ ment shall also provide that if notwithstanding such agreement, a court of competent jurisdic-I tion should permit such a claim to be made, such agreement shall serve as the overwhelmingprimary factor in any equitable apportionment of response costs or other liability. Nothing herein shall release, waive or preclude any claims the Purchaser may have against any per-’ son in possession or control of the Property
If any Purchaser fails for any reason to complete settlement as provided above, the Deposit shall be forfeited and applied to the costs of the sale, including 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 shalk 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 If 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 de-* ficiency between its bid and the successful bid at there-sale as well as the costs of conducting such re-sale. In the event the Substitute Trustees do not execute a deed of conveyance o^ 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, all duties,* liabilities and obligations of the Substitute Trustees, if any, with respect to the Property sq conveyed shall be extinguished, except as otherwise provided by applicable law
Is!Henry F. Brandenstem, Jr. \
Substitute Trustee
Is /William M Ver metre
Substitute Trustee FOR INFORMATION CONTACT: ; William M Vermette * Substitute Trustee , , (703) 760-5200 8270 Greensboro Drive, Suite 700 McLean, Virginia 22102 J or Transon Fox : 121 Pennsylvania Avenue ^ Virginia Beach, Virginia 23462 (800) 868-0458 www.tranzon.com
3-13, 3-20-02
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