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Foreclosure: KleinBank

Friday, May 22, 2009 - 2:56pm





NOTICE IS HEREBY GIVEN, that default has occurred under the Mortgage dated November 16, 2007, in the original principal amount of $528,000.00, executed by Kensington Property Group, LLC, a Minnesota limited liability company, as mortgagor, to KleinBank, a Minnesota corporation, as mortgagee, and recorded in the office of the County Recorder, Dakota County, Minnesota on November 19, 2007, as Document No. 2556778; that Kensington Property Group, LLC, and KleinBank made and entered into a Voluntary Mortgage Foreclosure Agreement dated May 5, 2009, wherein the parties agreed that the Mortgage shall be voluntarily foreclosed pursuant to Minn. Stat. § 582.32; that there has been compliance with all conditions precedent to the foreclosure of the Mortgage and the acceleration of the indebtedness secured thereby; that any action or proceeding instituted at law to recover the debt secured by the Mortgage or any part thereof has been discontinued; that there is due and claimed to be due under the Mortgage the sum of $563,884.91; and that pursuant to the power of sale therein, the Mortgage will be foreclosed and the real property located in Dakota County, Minnesota described as follows:

Unit No. 8, MN Valley Town Office Park, CIC No. 383, Dakota County, Minnesota; and interest attributable to common area known as Lot Ten (10), Block One (1),

MN Valley Town Office Park, CIC No. 383, Dakota County, Minnesota; Street Address: 11972 Portland Avenue South, Burnsville, MN 55337;

Property Identification No: 02-48700-080-01;

will be sold by the Sheriff of said County at public auction on June 23, 2009, at 10:00 a.m., in the Office of the Dakota County Sheriff, Law Enforcement Center, 1580 Judicial Center, Lobby S100, City of Hastings, in said County and State, to pay the debt secured by the Mortgage and taxes, if any, on said premises and the costs and disbursements allowed by law, subject to redemption by the mortgagor; its successors or assigns, within two (2) months of the date of the sale. After the expiration of the mortgagor's redemption period, each holder of a junior lien may redeem in the order and manner provided in Minn. Stat. § 582.32, Subd. 9. The name of the residential mortgage servicer, the lender or broker and the mortgage originator is as follows: KleinBank. The transaction agent and the transaction agent's mortgage identification number is as follows: not applicable.

Date: May 14, 2009

KleinBank, Mortgagee


Steven M. Graffunder

Attorney I.D. No. 15877X

6900 Wedgwood Road, Suite 200

Maple Grove, MN 55311

(763) 560-5700