Successful bidder will be required to sign a memorandum of sale at the time of the sale and settle by remitting the balance of the purchase price within fourteen (14) days of sale. In the event of default by the successful bidder, the entire deposit shall be forfeited and applied to the costs and expenses of sale and Substitute Trustee's fee according to the Code of Virginia. All other public charges or assessments, including water/sewer charges to be prorated through date of sale; those incurred after the sale date, and all other costs incident to settlement to be paid by the purchaser. Sale is subject to post sale confirmation that the borrower did not file for protection under the U.S. Bankruptcy Code prior to the sale as well as to post-sale confirmation of the status of the commercial loan with the loan servicer including, but not limited to, determination of whether the borrower entered into any repayment agreement, reinstated or paid off the commercial loan prior to the sale or whether other legal impediment to title exists. In any such event, the sale shall be null and void, and the Purchaser's sole remedy, in law or equity, shall be the return of the deposit without interest.