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VOLUNTARY MORTGAGE FORECLOSURE FRANKLIN NATIONAL BANK VS. KPMI PROPERTIES INC.

Thursday, November 17, 2011 - 12:00am

NOTICE OF MORTGAGE

FORECLOSURE SALE -

VOLUNTARY FORECLOSURE

DATE: November 10, 2011

Pursuant to the Voluntary Mortgage Foreclosure Agreement, dated October 6, 2011, recorded with the Dakota County Recorder's Office, you are notified that default has occurred in the conditions of the following described Mortgage:

INFORMATION REGARDING MORTGAGE TO BE FORECLOSED

1. Date of Mortgage: December 17, 2004

2. Mortgagors: KPMI Properties, Inc.

3. Mortgagees: Franklin National Bank of Minneapolis

4. Recording Information: Recorded on January 10, 2005, as Document Number 2284147, in the Office of the County Recorder of Dakota County, Minnesota.

5. Assignments of Mortgage, if any: None

INFORMATION REGARDING MORTGAGED PREMISES

6. Tax parcel identification number of the mortgaged premises: 36-48800-03-110

7. Legal description of the mortgaged premises: Lot 11, Block 3, Minnesota and Northwestern Addition.

8. The physical street address, city, and zip code of the mortgaged premises: 140 - 11th Avenue South, South St. Paul, Minnesota 55075.

OTHER FORECLOSURE DATA

9. The person holding the Mortgage: is not a transaction agent, as defined by Minn. Stat. 58.02, subd. 30.

The name(s) of the residential mortgage servicer and the lender or broker, as defined in Minn. Stat. 58.02, is Franklin National Bank of Minneapolis.

10. If stated on the Mortgage, the name of the mortgage originators, as defined in Minn. Stat. 58.02, is Franklin National Bank of Minneapolis.

INFORMATION REGARDING

FORECLOSURE

11. The requisites of Minn. Stat. 580.02 have been satisfied.

12. The original principal amount secured by the Mortgage was $124,000.00

13. At the date of this notice the amount due on the Mortgage, including taxes, if any, paid by the holder of the Mortgage, is: $119,174.40.

14. Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the mortgaged premises will be sold by the Sheriff of Dakota County, Minnesota, at public auction on December 22, 2011 at 10:00 a.m., at the Dakota County Sheriff's Office, Law Enforcement Center, 1580 Highway 55, Hastings, MN 55033.

15. The sale is pursuant to Voluntary Foreclosure Agreement between Mortgagor and Mortgagee dated October 6, 2011, recorded October 13, 2011 with the Dakota County Recorder as document number 2824447.

16. The time allowed by law for redemption by Mortgagor or Mortgagor's personal representatives or assigns is 2 months after the date of sale. The holder of a junior lien who has filed a notice of intent to redeem may redeem beginning after expiration of the mortgagor's redemption period.

17. Minn. Stat. 580.04(b) provides, "If the real estate is an owner-occupied, single-family dwelling, the notice must also specify the date on or before which the mortgagor must vacate the property if the mortgage is not reinstated under section 580.30 or the property redeemed under section 580.23." February 22, 2012 at 11:59 p.m.

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.

Name and address of Attorney for Mortgagee or Mortgage Assignee:

Michael E. Kreun (#0311650)

Beisel & Dunlevy, P.A.

282 US Trust Building

730 Second Avenue South

Minneapolis, MN 55402

(612) 436-0118

Name of Mortgagee or

Mortgage Assignee:

Franklin National Bank of Minneapolis

11/17-12/8


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