PROPERTY INFORMATION PACKAGE

Our 6,758th Auction

Real Estate Foreclosure Auction 14-254 Ranch Home 1.72+/- Acres

585 Bridgton Rd., Sebago, Maine Friday, September 19, 2014 at 10AM

September 5, 2014 Dear Prospective Bidder: Keenan Auction Company would like to announce auction 14-254: Real estate consists of a 1.72+/- acre parcel improved by a ranch style home. The auction will be held on Friday, September 19, 2014 at 10AM on premises. Please find our detailed Property Information Package enclosed for your review. The above property is subject to a $5,000 deposit (non-refundable as to the highest bidder) in CASH or CERTIFIED U.S. FUNDS made payable to the Keenan Auction Company (deposited with Auctioneer as a qualification to bid), with balance due and payable within 30 days from date of auction. The property will be sold by public auction subject to all outstanding municipal assessments. Conveyance of the property will be by release deed. All other terms will be announced at the public sale. Keenan Auction Company is committed to providing you with comprehensive information concerning this property. Our staff is readily available to assist you with any questions you may have regarding this property or the auction process. Thank you for your interest in this property and we look forward to seeing you on the day of the sale. Sincerely, KEENAN AUCTION COMPANY Enc. "This agency represents the Seller's interests and, as such, has a fiduciary duty to disclose to the Seller information, which is material to the sale, acquired from the Buyer or any other source."

1 RUNWAY ROAD SO. PORTLAND, MAINE 04106 (207) 885-5100 www.KeenanAuction.com Email: info@keenanauction.com

Real Estate Foreclosure Auction 14-254

Ranch Home 1.72+/- Acres 585 Bridgton Rd., Sebago, Maine

Prepared for: Gorham Savings Bank

Prepared by: Keenan Auction Company

Table of Contents Agency Relationships (Form 3) ................................................................................. 1 Disclaimer ................................................................................................................. 2 Advertisement ........................................................................................................... 3 Location Map ............................................................................................................ 4 Tax Map .................................................................................................................... 5 Assessment Information ........................................................................................... 6 Municipal Information ................................................................................................ 8 Property Disclosure Form ......................................................................................... 9 Purchase and Sale Agreement ................................................................................. 11 Quitclaim Deed Without Covenant ............................................................................ 13 Terms and Conditions of Sale ................................................................................... 16

Note: Please use page number in lower right hand corner of page

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DISCLAIMER

ATTENTION PROSPECTIVE BIDDER THE INFORMATION SET FORTH IN THIS PROPERTY INFORMATION PACKAGE IS BELIEVED TO

BE CORRECT AND COMPLETE. HOWEVER, THE KEENAN AUCTION COMPANY AND THE

SELLER OF THIS PROPERTY AND ITS AGENTS/REPRESENTATIVES MAKE NO WARRANTIES AS

TO THE ACCURACY, TRUTHFULNESS AND COMPLETENESS OF THIS INFORMATION.

PRIOR TO THE AUCTION, PROSPECTIVE BIDDERS SHOULD MAKE SUCH INVESTIGATION, AS

THEY DEEM APPROPRIATE.

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Advertisement

Notice Of Real Estate Foreclosure Auction 14-254

Pursuant to 14 M.R.S.A. § 6323

Ranch Home - 1.72+/-Acres 585 Bridgton Rd., Sebago, Maine

Friday, September 19, 2014 at 10AM Notice is hereby given that in accordance with a Judgment of Foreclosure and Order of Sale dated April 30, 2014, and entered by the Maine District

Court, (Bridgton) against defendant Timothy L. Smith and Kristi G. Smith, Docket No. RE-12-128; and wherein the Court adjudged a foreclosure of the mortgage deed granted by Timothy L. Smith and Kristi G. Smith, and recorded in the Cumberland County Registry of Deeds in Book 22131, Page 101; the period of redemption from said judgment having expired, a public sale will be conducted on Friday, September 19, 2014, commencing at 10:00 a.m. at 585 Bridgton Rd., Sebago, Maine. Reference should also be had to the mortgage deed for a more complete legal description of the property to be conveyed. Real Estate: Consists of a 1.72+/- acre parcel improved with a 1,261+/- SF ranch style home, circa 1988, designed with 2-bedrooms, 2-baths, kitchen, living room, dining room, and a deck. Reference Sebago Tax Map 11, Lot 30A.

Preview: Tuesday, September 9, 2014 from 4:30-5:30PM Terms: A $5,000 deposit to bid (nonrefundable as to highest bidder) in CASH or CERTIFIED U.S. FUNDS, made payable to the Keenan Auction Company, 30 day closing. The property will be sold by public auction subject to all outstanding municipal assessments. Conveyance of the property will be by release deed. All other terms will be announced at the public sale. For a Property Information Package visit KeenanAuction.com or call (207) 885-5100 and request by auction number 14-254. Richard J. Keenan #236. Our 42nd Year and 6,758th Auction.

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Location Map

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Tax Map

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Assessment Information

Site: Map 011, Lot 030, Sub A

Town: Sebago Tax Year: 2013 Owner: Smith, Timothy & Kristi G. Last Committed Tax: $1,483.32

Land Value: $45,220 Building Value: $77,579 Total Real Value: $122,799 Exemption Value: $10,000 Net Taxable Real Value: $112,799 Personal Property: $0

Owner Information

Owner #1: Smith, Timothy & Kristi G. Mailing Address: 585 Bridgton Rd Sebago,ME 04029 Trio Account #: 1311 Owner Since: 12/13/2004 Book: 22131 Page: 99 Purchase Price: $170,000 Category Land Type Units Value Notes Primary Lot Additional 3 0.344 AC $1,720 Primary Lot Table 3 1.38 AC $27,500 1.724 Ac $29,220

Site

Information Adjustment Drilled Well $0 Septic System $0 Site Improvement 3 $16,000

$16,000 Primary Building Data Building Type Description Area Grade Condition F Obsol. E Obsol. Value Color Year Built 1-Story House 1-Story House 1261 3.2 80% 100% 100% $75,508 TAN - Deck - Deck 192 3.2 80% 100% 100% $1,643 - Deck - Deck 50 3.2 80% 100% 100% $428

Visit History

Date Purpose Result Individual Comments 6/11/2008 Callback Callback Carol Colby Took picture; noted new front deck 6/8/2007 See 2008 Dana Berube Need Photo 10/20/2003 Equalization Measure Dana Berube

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Municipal Information Real Estate Foreclosure Auction 14-254 585 Bridgton Rd., Sebago, Maine 2013/14 Mill Rate $ 13.25 Per $1,000.00 Percent of Valuation at Market 100% Tax Map 11, Lot 30-A 2013/14 TAX VALUE: Land $ 45,220.00 Building 77,579.00 Total Value $ 122,799.00 Homestead Exemption: $10,000.00 2013/14 ANNUAL REAL ESTATE TAXES: $ 1,483.32 REAL ESTATE TAXES DUE: Current1 PUBLIC WATER: NA PUBLIC SEWER: NA The above information was obtained from the Sebago Town Hall. For further details on municipal information please contact the Town Hall at 207-787-2457.

1 The next tax rate/tax bill will be going out at the end of September. Per the town office, the tax rate is expected to be slightly higher for the upcoming bills. The first half will be due on the 1st Tuesday in November.

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Purchase and Sale Agreement Auction 14-254

This Agreement is entered into this 19th day of September, 2014 by and between Gorham Savings Bank, having a place of business at 10 Wentworth Drive, Town of Gorham, County of Cumberland and State of Maine, hereinafter sometimes called the "SELLER", and (name) __________________________________________________ (address) ________________________________________________ ________________________________________________ (telephone) ____________________ (ofc) __________________ (res) (SS#) _________________________ (SS#) ____________________ County of ______________ and State of ______________, hereinafter sometimes called the "BUYER".

Witnesseth WHEREAS, SELLER is desirous of selling all its rights, title and interest in and to certain land and buildings situated in the County of Cumberland and State of Maine, located at 585 Bridgton Road, in the Town of Sebago. The real estate is more particularly bounded and described in Exhibit A, a copy of which is attached hereto and made a part hereof. WHEREAS, BUYER is desirous of purchasing said real estate at said public sale for the sum of ($_______________)________________________________________________ _________________________________________________________________. NOW THEREFORE, the SELLER, in consideration of the deposit of $5,000.00, receipt of which is hereby acknowledged, does hereby agree to sell and convey the real estate described to the said BUYER for the aggregate sum of $____________________ and the said BUYER agrees to purchase the same for the said price upon the following terms & conditions: 1. The SELLER agrees, at the time of closing and upon receipt of the balance due of the purchase price, to execute and deliver to the BUYER a Quitclaim Deed Without Covenant to said real estate. 2. BUYER acknowledges that they have had an opportunity to inspect said real estate and that said property is to be conveyed in its entirety "AS IS, WHERE IS, AND WITH ALL FAULTS" unrepaired and without any express or implied warranties of any kind or nature. 3. BUYER agrees, at closing, to pay SELLER the balance of the purchase price in cash or certified U.S. funds. 4. Closing shall be held at such time and place as is convenient to the parties hereto, but in no event any later than thirty days (30) from the date hereof at the office of the SELLER. It is mutually agreed that time is of the essence to this Agreement and said closing. 5. Remedies of SELLER: If BUYER fails to pay the purchase price in full within the time set forth and/or fails to comply with any of the provisions of the Agreement, SELLER and Auctioneer, in addition to all other

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remedies allowed by law or equity, may retain the full deposit as damages. In addition, the Property may be resold in any manner to any party and any deficiency, together with all expenses and costs of resale (including attorney’s fees) will be paid by the defaulting BUYER. If the BUYER defaults under this Agreement, in addition to other remedies, the Seller shall have the right to assign the BUYER'S rights under this Agreement to SELLER or a third party. 6. Possession: BUYER shall only be entitled to possession at closing. Third parties may occupy the Property at the time of the Sale and closing, and the Property is sold subject to any claims such third parties may have to continue possession. 7. Real Estate Taxes: All outstanding real estate taxes - including taxes assessed but unbilled - shall be the responsibility of the BUYER. 8. ALL Transfer Taxes: All real estate transfer taxes shall be the responsibility of the BUYER at closing. 9. Other Assessments: All other unpaid assessments and charges due to municipal or quasi-municipal corporations (if any), including sewer, water, and the like due shall be the responsibility of the BUYER. 10. The attached Terms and Conditions of Sale are incorporated herein by reference. 11. Risk of Loss: The risk of loss with respect to the property shall be with the BUYER. 12. Assignment: Buyer may assign its rights under this Agreement to any third party by a writing approved by Seller, but such assignment may not mitigate or modify Buyer’s obligations and liability to Seller pursuant to the terms hereof. Any such assignment, in a form approved by and acceptable to Seller, must be executed and delivered by Buyer and the proposed assignee(s) to counsel for Seller at least seven (7) calendar days prior to the date of closing. IN WITNESS WHEREOF the parties have hereunto set their hands on the date first mentioned. Gorham Savings Bank ____________________________ ______________________________ SELLER BUYER ______________________________ BUYER ____________________________ ______________________________ WITNESS WITNESS

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Exhibit A – Legal Description

QUITCLAIM DEED WITHOUT COVENANT KNOW ALL BY THESE PRESENTS, that GORHAM SAVINGS BANK, a Maine banking corporation having its place of business and mailing address at 10 Wentworth Drive, Gorham, Maine, 04038, acting pursuant to a Judgment of Foreclosure and Order of Sale entered on April 30, 2014, in the Bridgton District Court, Docket No. RE-12-128, under 14 M.R.S.A. §§ 6321 et seq. for the foreclosure of the Mortgage given by Timothy L. Smith and Kristi G. Smith to Gorham Savings Bank, dated December 13, 2004, and recorded in the Cumberland County Registry of Deeds in Book 22131, Page 101, in consideration of One Dollar ($1.00) and other valuable consideration paid by [BUYER], a Maine [RESIDENT/ENTITY] with an address at [_______________], the receipt whereof it does hereby acknowledge, does hereby remise, release, bargain, sell and convey, and forever quitclaim unto the said [BUYER], the property described in Exhibit A attached hereto.

BEING the same premises conveyed to Timothy L. Smith and Kristi G. Smith by Warranty Deed from Deborah L. Dolan and David P. Heath, dated December 13, 2004, and recorded in the Cumberland County Registry of Deeds in Book 22131, Page 99, together with and subject to all rights, easements, restrictions and reservations referred to therein. TO HAVE AND TO HOLD the same, together with all privileges and appurtenances thereunto belonging, to the said [BUYER]. Evidence of compliance with 14 M.R.S.A. § 6323(1) is attached hereto as Exhibit B.

IN WITNESS WHEREOF, the said Gorham Savings Bank has caused this instrument to be signed in its corporate name by William Baker, its Vice President thereunto duly authorized, this ____ day of September, 2014.

Signed and Delivered GORHAM SAVINGS BANK In the Presence of: __________________________________ __________________________________ By: William Baker Its: Vice President STATE OF MAINE CUMBERLAND, ss. September ____, 2014

Then personally appeared the above named William Baker, Vice President of said Gorham Savings

Bank, as aforesaid, and acknowledged the foregoing instrument to be his free act and deed in his said capacity, and the free act and deed of said Gorham Savings Bank. Before me, ____________________________ Notary Public/Attorney at Law ____________________________ My Commission Expires

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EXHIBIT A A certain lot or parcel of land situated in the Town of Sebago, County of Cumberland, State of Maine. Said parcel of land is further located on the easterly side of Route 107 leading from Bridgton to Sebago. Said parcel of land is bounded and described as follows: Commence at an iron rod set in the ground on the easterly side of said Route 107, with the #1229 at the northwesterly corner of land now or formerly of Mark and Patricia J. Dion; Thence N 8° 39’ 29” W by said Route 107, 275 feet more or less to an iron pipe set in the ground and other land of Deborah L. Dolan and David P. Heath; Thence N 70° 30’ 01” E by said Deborah L. Dolan and David P. Heath land, 278.1 feet more or less to an iron pipe set in the ground and land now or formerly of John Reed; Thence S 8° 39’ 29” E by said Reed land, 275 feet more or less to an iron rod set in the ground with the #1229 at the northeasterly corner of Mark and Patricia J. Dion land; Thence S 70° 30’ 01” W by said Dion land, 278.1 feet more or less to the point of beginning. Said parcel of land contains 1.72 acres more or less.

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EXHIBIT B

Evidence of compliance with 14 M.R.S.A. § 6323(1) In accordance with the Judgment of Foreclosure and Order of Sale dated April 30, 2014, Gorham Savings Bank caused a Notice of Public Sale to be published in the Maine Sunday Telegram on August 17, 2014, August 24, 2014, and August 31, 2014. This newspaper is of general circulation in Cumberland County, and the first publication date was within 90 days of the expiration for the period of redemption. A copy of the judgment of foreclosure is recorded in Book 31724, Page 43. Pursuant to the Notice of Public Sale, Gorham Savings Bank held a sale of the property at 585 Bridgton Road, Sebago, Maine, on September 19, 2014, at 585 Bridgton Road, Sebago, Maine, which sale was conducted by Keenan Auction Company. At said sale, the property was sold to [BUYER] as the highest bidder, [who in turn assigned his interest in the Purchase and Sale Agreement to [ASSIGNEE]. Above information supplied by Barns, Greenfield & Thornton, LLC, Attorneys for Gorham Savings Bank.

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Terms and Conditions of Sale Real Estate Foreclosure Auction 14-254

Ranch Home – 1.72+/- Acres 585 Bridgton Rd., Sebago, Maine

Friday, September 19, 2014 at 10AM

1. Date/Place of Sale: The Property shall be sold on Friday, September 19, 2014 commencing at 10:00 a.m. at the subject property located at 585 Bridgton Road, Sebago, Maine.

2. Terms of Sale:

A. The sale is subject to all of those terms set forth in the Notice of Public Sale including but not limited to the terms set forth below.

B. The Property shall be sold as one lot or parcel subject to and with the benefit of all development rights, easements, appurtenances, restrictive covenants, rights of way of record, and any easements, restrictions and rights of way which are disclosed in the Notice of Sale or which are of record or which are visible upon the face of the earth or as set forth in the Purchase and Sale Agreement, a copy of which is available from the auctioneer.

C. The Real Estate (“Property”) will be offered as an entirety, or as individual parcels as determined by the Seller and is being sold “AS IS, WHERE IS, AND WITH ALL FAULTS.” Gorham Savings Bank (the “Seller”) assumes that bidders have inspected the Property prior to the sale. The Property is offered for sale “AS IS, WHERE IS, AND WITH ALL FAULTS” unrepaired and without any express or implied warranties of any kind or nature. Square footage dimensions are approximate and should be independently verified prior to bidding. The Seller, its agents and subagents, assume no liability for errors or omissions in these Terms and Conditions of Sale or in any of the property listings or advertising or promotional/publicity statements and/or materials. Although information has been obtained from sources deemed reliable, the auctioneer makes no guarantees as to the accuracy of the information herein contained or in any other property listing or advertising or promotional/publicity statements and materials.

D. A deposit to bid of $5,000.00 must be left with the auctioneer prior to the sale. The deposit must be in the form of certified U.S. funds and must be made payable to the auctioneer. The deposit to bid is nonrefundable as to the highest bidder for the Property. Unsuccessful bidder’s checks will be returned immediately after the auction.

E. The Property shall be sold subject to any outstanding real estate taxes and any other unpaid assessments due to municipal or quasi-municipal corporations.

F. The balance of the purchase price will be due on or before thirty (30) days from date of public sale.

G. The deed to the real estate will be by Quitclaim Deed Without Covenant. The high bidder shall at his/her cost pay all sales taxes and real estate transfer taxes (including the Seller’s share, if any), whether assessed to purchaser or Seller.

H. The sale is subject to all of the terms set forth in the Purchase and Sale Agreement, the form of which is included in the Property Information Package.

I. If the high bidder or high bidders default by failing to pay the purchase price in full within the time specified in the Purchase and Sale Agreement, or if a high bidder otherwise breaches the terms of sale, the Seller may, in addition to all other remedies allowed by law or equity, retain the full Deposit as damages. In addition, the Property may be resold in any manner to any party and any deficiency, together with all expenses and costs of resale (including attorneys’ fees) will be paid by the defaulting high bidder. In addition, and at the Seller’s sole and exclusive option, the Seller may have the rights of the defaulting high bidder under any Purchase and Sale Agreement assigned to the Seller, or to the Seller’s nominee, without any other or further action by the defaulting high bidder.

J. The Seller and the auctioneer reserve the right, subject to applicable provisions of Maine Law, to: (i) refuse or accept any irregular bids; (ii) hold periodic recesses in the sale process; (iii) continue the sale from time to time without notice to any person; and (iv) amend the terms of sale as it deems in the best interest of the Seller.

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K. A record of bidding will be maintained by the Seller and/or the auctioneer for its own use. All persons present at the Sale and wishing to submit a bid must register and sign a bidding contract with the auctioneer, and submit the requisite deposit in cash or certified funds prior to commencement of the bidding.

L. Seller, and its assigns, reserves the right to bid without making the required deposit and, if Seller, or its assigns, is the high bidder, to pay for the Property with a credit against the debt owed to it.

3. Auction Procedure: Open and verbal. Unless otherwise announced, announcements made on the day of the sale will be subject to all printed material. Method, order of sale, and bidding increments shall be at the sole discretion of the auctioneer. The Seller reserves the right to delete or add additional property at its discretion. Seller reserves the right to modify the terms and structure of the Sale. Seller reserves the right to add to or change any of the terms and conditions of sale, to add or withdraw properties, and to adjourn, cancel, recess, delay or reschedule the Sale at any time before or during the auction.

4. Disclaimer: All bidders are invited to inspect the Property and the public records prior to making a bid. No warranties, guarantees or representations of any kind are made, and all warranties are disclaimed with respect to any improvements located on the Property, including improvements located underground, the location and/or boundaries of the Property or improvements thereon, title to the Property, environmental compliance, or its compliance with any applicable zoning, land use or hazardous waste regulations, laws or ordinances. The buyer shall assume responsibility and expense for any title search, title examination or title insurance. THE SELLER/AUCTIONEER EXPRESSLY AND SPECIFICALLY MAKES NO, AND SHALL MAKE NO, REPRESENTATIONS OR WARRANTIES REGARDING HAZARDOUS OR TOXIC WASTE, SUBSTANCES, MATTERS OR MATERIALS, AS THOSE TERMS MAY BE DEFINED FROM TIME TO TIME BY APPLICABLE STATE, LOCAL AND FEDERAL LAWS, STORED OR OTHERWISE LOCATED ON THE PROPERTY BEYOND ANY INFORMATION WHICH WAS CONTAINED IN THE PROPERTY INFORMATION PACKAGE.

The Seller specifically disclaims, and buyer acknowledges that Seller shall not be responsible for or obligated now or at any time in the future to, protect, exonerate, defend, indemnify and save buyer or its successors or assigns, harmless from and against any loss, damage, cost, expense, clean-up or liability, including, but not limited to, attorneys’ fees and court costs, and including, but not limited to such loss, damage, cost, expense or liability, based on personal injury, death, loss or damage to property suffered or incurred by any person, corporation or other legal entity, which may arise out of the presence of any such hazardous or toxic waste, substance, matter or material on the premises.

5. Risk of Loss: The risk of loss with respect to the property shall be with the successful purchaser.

6. Possession: Buyer shall only be entitled to possession at closing as set forth in the Purchase and Sale Agreement. Third parties may occupy the Property at the time of the Sale and closing, and the Property is sold subject to any claims such third parties may have to continue possession.

7. Applicable Law: You have signed a written binding contract agreeing to the Terms and Conditions of Sale, and understand that any bid you make falls under the Maine Auction Law, Title II, Section 2-328 of the Uniform Commercial Code, and the Statute of Frauds. Maine auctions are under the jurisdiction of the State of Maine Department of Professional and Financial Regulations, Board of Licensure of Auctioneers, 35 State House Station, Augusta, Maine, 04330.

8. Bidder’s Card: By signing for a bid number, the bidder has signed a written and binding contract agreeing to all of the terms and conditions set forth herein. If you do not agree with any of the terms or conditions set forth above, please return your bid number to the auctioneer immediately. Proxy bids are subject to all terms and conditions of sale as listed herein or announced at the Sale.

9. Conflict with Purchase and Sale Agreement: In the event of a conflict between these Terms and Conditions of Sale and the terms of the Purchase and Sale Agreement executed by the Seller and the successful bidder, the Purchase and Sale Agreement shall control.

10. Lead-based Paint and/or Lead-based Paint Hazards: Purchaser hereby acknowledges that he/she has waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards and has received a copy of the U.S. Environmental Protection Agency’s pamphlet entitled “Protect Your Family From Lead In Your Home.”