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- 104 - 201400400 subordinated thereto, in accordance with the provisions of Section 7- 105.6(c) of the Real Property Article of the Maryland Code, as may be amended from time to time. Beneficiary (or any successor or assignee of Beneficiary or any other person or entity secured by this Deed of Trust from time to time) or its agents may bid and purchase at such sale. Deed of Trust Trustee may require a cash or cash equivalent bidder's deposit to be paid at the time of sale. Deed of Trust Trustee may waive collection of said bidder's deposit if the accepted bidder is Beneficiary or any successor or assignee of Beneficiary or any other person or entity secured by this Deed of Trust from time to time. Deed of Trust Trustee may postpone such sale from time to time by giving notice of such postponement in the same manner in which any original notice of sale was given and otherwise as may be required by law or rule, and on the date of such sale or the date to which such sale may have been postponed. Deed of Trust Trustee may sell the Property to the highest bidder. In the event of such a sale of the Mortgaged Property or any part thereof and execution of a deed of deeds therefor under these trusts, any recital therein of the occurrence of an Event of Default or of the giving or recording of any notice or demand by Deed of Trust Trustee or Beneficiary regarding such sale shall be conclusive proof thereof, and the receipt of the purchase money recited therein shall fully discharge the purchaser from any obligation for the proper application of the proceeds of sale in accordance with these trusts. (ii) Upon the completion of a sale of all or any portion of the Mortgaged Property pursuant to paragraph 25(g)(i) of this Deed of Trust and after the sale has been approved pursuant to all applicable State of Maryland laws and regulations (including the ratification of said sale by the Circuit Court for the County or City in which the foreclosure action is pending), the Deed of Trust Trustee shall make, execute, and, after due payment is made, deliver to the purchaser or purchasers a deed or deeds for the Mortgaged Property or part thereof sold. The proceeds of any foreclosure sale, or other sale of the Mortgaged Property in accordance with the terms hereof or as permitted by law, shall be distributed and applied in the following order of priority (unless otherwise required upon the ratification of the auditor's report for the sale, in which case such ratified auditor's report shall govern): FIRST, to the payment of all costs and expenses incident to the foreclosure and/or sale proceedings, including the fees and costs of any attorneys for this trust, the commission due any auctioneer which calls the sale (not to exceed the maximum amount permitted by law or rule), a commission to the Deed of Trust Trustee equal to five percent (5% ) of the successful bid amount (or such lesser amount equal to the commission allowed trustees for making sales of property under power of sale or under a decree of a court of equity in the State of Maryland), appraisers' fees and environmental audits, all of which shall accrue and become due from and after any Event of Default, together with any sums which Deed of Trust Trustee or Beneficiary shall have paid for procuring any abstract, certificate or report of title to the Mortgaged Property; SECOND, to the payment of all items which under the terms hereof constitute secured indebtedness whether the same shall have been matured or not including interest thereon until final ratification of the auditor's report, in such order as Beneficiary may elect in its sole and absolute discretion; and THIRD, any surplus to such parties as are legally entitled thereto under any applicable legal requirements. It is agreed that a reasonable fee not to exceed Twenty Thousand Dollars ($20,000.00) to the party making the sale, and all of the above costs and expenses, shall be paid by Borrower in the event the Debt is paid in full (or if the sale is cancelled or postponed by agreement of Borrower and Beneficiary) after the publication of any advertisement of a sale of the Mortgaged Property but before the time and date of the sale therein advertised.