Foreclosure: Millerville Inc., Lot 15
NOTICE OF MORTGAGE Foreclosure SALE
Date: July 15, 2008
YOU ARE NOTIFIED THAT:
Default has occurred in the conditions of the Mortgage dated November 1, 2004, executed by Millerville, Inc., a Minnesota corporation, as Mortgagor, to Lakeland Construction Finance, LLC, a Minnesota limited liability company, as Mortgagee, and filed for record on November 8, 2004, as Document No. 2265613, in the Office of the County Recorder of Dakota County, Minnesota.
The original principal amount secured by the Mortgage was: $5,150,000.00.
No action or proceeding at law is now pending to recover the debt secured by the Mortgage, or any part thereof.
The holder of the Mortgage has complied with all conditions precedent to acceleration of the debt secured by the Mortgage and foreclosure of the Mortgage, and all notice and other requirements of applicable statutes.
At the date of this notice, the amount due on the Mortgage, and taxes, if any, paid by the holder of the Mortgage is: $382,368.18.
Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the land described as follows:
Lot 15, Block 1, Lexington Ridge, Dakota County, Minnesota (hereinafter referred to collectively as the "Property")
will be sold by the County Sheriff of Dakota County, Minnesota, at public auction on September 9, 2008, at 10:00 a.m. at the Sheriff's Office, Law Enforcement Center, 1580 Highway 55, Hastings, Minnesota.
The time allowed by law for redemption by Mortgagor or Mortgagor's personal representatives or assigns is six (6) 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.
Lakeland Construction Finance, LLC
Attorneys for Mortgagee:
Mitchel C. Chargo
Norman I. Taple
GURSTEL, STALOCH & CHARGO, P.A.
401 North Third Street, Suite 590
Minneapolis, MN 55401