NOTICE OF VOLUNTARY MORTGAGE FORECLOSURE SALE
NOTICE IS HEREBY GIVEN: That a default has occurred in the conditions of the following described mortgage:
DATE OF MORTGAGE: May 10, 2005
ORIGINAL PRINCIPAL AMOUNT OF MORTGAGE: $1,800,000.00
MORTGAGOR(S): Castle Rock Development, Inc.
MORTGAGEE: Sterling State Bank
DATE AND PLACE OF FILING: Recorded on May 24, 2005 as Document # 2324864, in the Office of the County Recorder of Dakota County, Minnesota.
ASSIGNMENTS OF MORTGAGE: None
LEGAL DESCRIPTION OF PROPERTY: Lots 1 and 2, Block 1; Lots 1, 2, and 3; Block 2, Farmington Business Park, According to the recorded Plat thereof and situated in Dakota County, Minnesota.
THE AMOUNT CLAIMED TO BE DUE ON THE DATE OF NOTICE: $815,160.62.
THAT no action or proceeding has been instituted at law to recover the debt secured by said mortgage, or any part thereof; that there has been compliance, if required, with all pre-foreclosure notice and acceleration requirements of said mortgage, and/or applicable statutes.
THIS voluntary foreclosure sale is proceeding pursuant to that certain Voluntary Foreclosure Agreement dated October 11, 2011 and recorded on October 14, 2011 as Document # 2824718 in the Dakota County Recorder's Office.
PURSUANT to the power of sale contained in said mortgage, the Voluntary Foreclosure Agreement, and Minnesota Statute § 582.32, the above described real property will be sold by the Sheriff of said county as follows:
PURSUANT, to the power of sale contained in said mortgage, the above described real property will be sold by the Sheriff of said county as follows:
DATE AND TIME OF SALE: December 20, 2011, at 10:00 a.m.
PLACE OF SALE: Dakota County Law Enforcement Center, in the Sheriff's main lobby located at 180 Highway 55, Hastings, MN 55033, to pay the debt then secured by said mortgage and taxes, if any, actually paid by the mortgagee on the premises, and the costs and disbursements allowed by law.
MORTGAGOR'S REDEMPTION PERIOD: The redemption period for the Mortgagor and the Mortgagor's personal representatives or assigns is two months from the date of sale, except that if the involved real property is subject to a federal tax lien under which the United States is entitled to a 120-day redemption period under section 7425(d)(1) of the Internal Revenue Code, as amended, the Mortgagor's redemption period is 120 days from the date of sale.
JUNIOR LIEN HOLDER REDEMPTION RIGHTS: Junior lien holders may redeem in the order and manner provided in Minn. Stat. § 582.32, subd. 9 beginning after the expiration of the applicable Mortgagor's redemption period.
NOTICE: Pursuant to the Voluntary Foreclosure Agreement the afore-described parcels of real property will be sold in a single foreclosure sale for a single bid price.
Dated: November 10, 2011 By: /s/Tracy J. Morton
Tracy J. Morton (#0312848)
Counsel for Sterling State Bank
4520 150th Street West
Apple Valley, MN 55124
NOTICE OF MORTGAGE
(1) Street address, city and zip code of mortgaged premises: unknown street address, Farmington, MN.
(2) Transaction agent: residential mortgage servicer; lender or broker: Sterling State Bank
(3) Tax parcel identification number: 14-25828-010-01; 14-25828-010-02; 14-25828-020-01; 14-25828-020-02; 14-25828-030-02
(4) Transaction Agent's mortgage ID number: None
(5) Name of mortgage originator: Sterling State Bank