Commerce Bank Fair market HomesNOTICE OF FORECLOSURE SALE PURSUANT TO
NOTICE OF FORECLOSURE SALE PURSUANT TO
Date: December 6, 2012
YOU ARE NOTIFIED THAT:
1.Default has occurred in the conditions of the Mortgage dated December 29, 2009, executed by Fair Market Homes, Inc., a Minnesota Corporation, as Mortgagor, to Commerce Bank, a Minnesota banking corporation, as Mortgagee, and filed for record January 5, 2010, as Document No. T656094 in the Office of the Registrar of Titles of Dakota County, Minnesota. Fair Market Homes, Inc., a Minnesota Corporation, is the Mortgagor as that term is defined by Minn. Stat. §582.32, Subd. 2(g). The land described in the Mortgage is registered land.
2.The original principal amount secured by the Mortgage was: One Hundred Ninety-one Thousand Dollars and no/100 ($191,000.00).
3.No action or proceeding at law is now pending to recover the debt secured by the Mortgage, or any part thereof.
4.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.
5.At the date of this notice, the amount due on Mortgage, and taxes, if any, paid by the holder of the Mortgage is: One Hundred Sixty-five Thousand, Four Hundred Twenty-one Dollars and 12/100 ($165,421.12).
6.This mortgage foreclosure is being conducted in accordance with the terms and conditions of a Voluntary Mortgage Foreclosure Agreement dated November 30, 2012.
7.Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the land legally described as:
Unit No. 203, CIC No. 552, South Haven Condominium, a common interest community, Dakota County, Minnesota
will be sold by the County Sheriff of Dakota County, Minnesota, at public auction on January 17, 2013, at 10:00 a.m. at the Sheriff’s office, 1580 West Highway 55, Hastings, Minnesota.
8.The time allowed by law for redemption by Mortgagor or Mortgagor’s personal representatives or assigns is two (2) months after the date of sale. Each holder of a junior lien may redeem in the order and manner provided in Minnesota Statutes §582.32, Subd. 5(d), beginning after the expiration of the mortgagor’s redemption period.
The following information is provided pursuant to Minnesota Statutes Sections 580.025 and 580.04:
(1)Street Address of Property: 760 Southcross Drive West #203, Burnsville, MN 55337
(2)Name of Transaction Agent, Residential Mortgage Servicer, Lender &/or Broker: N/A
(3)Tax Parcel Identification Number of the Property: 02-70151-05-203
(4)Transaction Agent’s Mortgage Identification Number, if known: N/A
(5)Name of Mortgage Originator, if stated on mortgage: N/A
(6)Date on which Occupant must vacate Property, if mortgage is not reinstated under Section 580.30 or property redeemed under 580.23: 11:59 p.m. on March 18, 2013.
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.
HELLMUTH & JOHNSON, PLLC
Dated: December 6, 2012
Joel A. Hilgendorf, I.D. # 315953
Attorneys for Mortgagee
8050 West 78th Street
Edina, MN 55439
File No.: 10506.0057