NOTICE OF SHERIFF'S MORTGAGE
FORECLOSURE SALE BY PUBLIC AUCTION
Name of Mortgagor: M.W. Johnson Construction, Inc., Maurice W. Johnson, and Maureen K. Johnson
Name of Mortgagee: Associated Bank, National Association, f/k/a Associated Bank Minnesota, National Association
Original Principle Amount Secured by the Mortgage: $1,200,000.00
Date and Recording Information of Mortgage: September 18, 2003; recorded in the Office of the County Recorder in and for Dakota County, Minnesota, on April 27, 2004, as Document No. 2198509, as amended and restated by the Amended and Restated Mortgage, Security Agreement, Fixture Financing Statement and Assignment of Leases and Rents, dated December 21, 2007, recorded in the Office of said County Recorder on December 28, 2007, as Document No. 2563726 (collectively, the "Mortgage").
Amount Due as of March 26, 2009: $502,345.93 (which includes, without limitation, interest, costs, and fees, all of which will continue to accrue)
Legal Description of Mortgaged Premises: The real and personal property as described in the Mortgage, which real property is legally described as:
Parcel 1: Unit No. 514, Niakwa Village Condominium, Dakota County, Minnesota, Condominium File No. 54;
Parcel 2: Unit No. 512, Niakwa Village Condominium, Dakota County, Minnesota, Condominium File No. 54;
Parcel 3: Unit 524, Niakwa Village Condominium, Dakota County, Minnesota, Condominium File No. 54; and
Parcel 4: Unit No. 522, Niakwa Village Condominium, Dakota County, Minnesota, Condominium File No. 54.
(collectively, the "Mortgaged Premises").
Common Address and Tax Parcel Identification Number of Mortgaged Premises: The Mortgaged Premises have the following common addresses and tax parcel identification numbers:
Parcel 1: 6638 162nd Court West, Rosemount, Minnesota 55068;
Parcel 2: 6642 162nd Court West, Rosemount, Minnesota 55068;
Parcel 3: 6650 162nd Court West, Rosemount, Minnesota 55068; and
Parcel 4: 6654 162nd Court West, Rosemount, Minnesota 55068.
The tax parcel identification numbers of the Mortgaged Premises are:
Parcel 1: 22-51352-514-01;
Parcel 2: 22-51352-512-01;
Parcel 3: 22-51352-524-01; and
Parcel 4: 22-51352-522-01.
Mortgage Origination And Servicer Information: The residential mortgage servicer of the Mortgage is the Mortgagee; there is no third-party servicer. The Mortgagee is the lender and it originated the loan. There is not transaction agent. All questions regarding this foreclosure should be directed to the Mortgagee or the undersigned.
Time, Place, and Manner of Sale: 10:00 a.m. on Wednesday, May 27, 2009, at the Dakota County Sheriff's Office, Law Enforcement Center, 1580 Highway 55, Hastings, Minnesota 55033. The Parcels that comprise the Mortgaged Premises may be sold separately, in gross, or both.
Non-Merger of Interests: Any purchase by the Mortgagee of the Mortgaged Premises at the foreclosure sale and/or the Mortgagee's obtaining title to the Mortgaged Premises at the end of the redemption period shall not cause the lien of the Mortgage, or any other lien or interest in favor of the Mortgagee against or with respect to the Mortgaged Premises to merge with fee title or any other interest acquired by the Mortgagee, or in any manner otherwise impair the security or priority of such liens or the Mortgagee's rights and remedies under such liens and applicable law. To the contrary, the Mortgagee intends to reserve, and hereby expressly reserves, all of its rights and remedies with respect to such liens and interests.
Redemption: Mortgagor's Redemption Period shall expire twelve months after the date of sale. THE TIME ALLOWED BY LAW FOR REDEMPTION BY THE MORTGAGOR, THE MORTGAGOR'S PERSONAL REPRESENTATIVES OR ASSIGNS, MAY BE REDUCED TO FIVE WEEKS IF A JUDICIAL ORDER IS ENTERED UNDER MINNESOTA STATUTES, SECTION 582.032, DETERMINING, AMONG OTHER THINGS, THAT THE MORTGAGED PREMISES ARE IMPROVED WITH A RESIDENTIAL DWELLING OF LESS THAN FIVE UNITS, ARE NOT PROPERTY USED IN AGRICULTURAL PRODUCTION, AND ARE ABANDONED.
Deficiency: The Mortgagee preserves the right to pursue any deficiency in the indebtedness in accordance with applicable law.
Dated: March 26, 2009
WINTHROP & WEINSTINE, P.A.
By: /s/ Mark J. Mrnak
Mark J. Mrnak (#0388112)
225 South Sixth Street
Minneapolis, Minnesota 55402
Attorneys for Associated Bank Minnesota, National Association