NOTICE OF MORTGAGE FORECLOSURE BREMER BANK VS. REVESTERS GROUP 1 LLC

NOTICE OF MORTGAGE

FORECLOSURE SALE

YOU ARE NOTIFIED THAT:

1. Default has occurred in the conditions of the Mortgage, Security Agreement, Fixture Financing Statement and Assignment of Leases and Rents dated August 29, 2005 and recorded in the Office of the Dakota County Recorder on September 12, 2005, as Document No. 2359421, and also recorded in the Office of the Dakota County Registrar of Titles on September 12, 2005, as Document No. 574196, executed by REVESTORS GROUP 1 LLC, a Minnesota limited liability company, as mortgagor, to BREMER BANK, NATIONAL ASSOCIATION, a national banking association, as mortgagee, as amended by that certain Consent, Assumption and Amendment Agreement dated July 27, 2010, under which REVESTORS GROUP 6, L.L.C., a Minnesota limited liability company assumed the obligations of REVESTORS GROUP 1 LLC, as mortgagor, as evidenced by that certain Memorandum of Consent, Assumption and Amendment Agreement dated July 27, 2010 and recorded in the Office of the Dakota County Recorder on August 9, 2010, as Document No. 2745187, and also recorded in the Office of the Dakota County Registrar of Titles on August 9, 2010, as Document No. T665840 (collectively, the "Mortgage"). The land described in the Mortgage is both abstract property and registered land. That portion of the land which is Torrens property is legally described in Certificate of Title No. 149489.

2. The Mortgage has not been assigned.

3. The original principal amount secured by the Mortgage was: $4,200,000.00.

4. No action or proceeding at law is now pending to recover the debt secured by the Mortgage, or any part thereof.

5. 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.

6. At the date of this notice the amount due on the Mortgage, and taxes, if any, paid by the holder of the Mortgage is: $3,361,510.07.

7. Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the land located in Dakota County, Minnesota, described as follows:

Legal Description:

Lot 2, Block 1, Grand Oak Five, Dakota County, Minnesota.

Part of the above being registered land as evidenced by Certificate of Title No. 149489.

Note: The Torrens portion being more particularly described as follows:

That part of Lot Two (2), Block One (1), GRAND OAK FIVE, according to the recorded plat thereof, lying southerly and westerly of the following described lines: Commencing at the southeast corner of Lot 3, Block 1, said GRAND OAK FIVE; thence on an assumed bearing of North 06 degrees 08 minutes 57 seconds East along the east lines of said Lot 3 and said Lot 2, Block 1, a distance of 296.39 feet to a point 310 feet southerly of the intersection of the north line of Lot 3 of THE ROBERT O'NEILL HOMESTEAD DAKOTA CO. MINN., according to the recorded plat thereof, and the westerly right of way line of State Highway No. 49 as measured along said right of way line and being the point of beginning of the lines to be described; thence South 89 degrees 31 minutes 05 seconds West, along a line parallel with the north line of said Lot 3, a distance of 245.00 feet; thence North 00 degrees 39 minutes 22 seconds West along a line parallel with the west line of said Lot 3 a distance of 158.98 feet to the north line of said Lot 3, Block 1, GRAND OAK FIVE, and there terminating. All according to and as depicted on said GRAND OAK FIVE.

Property Address:

2815 Dodd Road, Eagan, MN 55121

Tax Parcel I.D. No.

10-30804-01-020

will be sold by the County Sheriff of Dakota County, Minnesota, at public auction on April 20, 2012 at 10:00 a.m., in the lobby of the Dakota County Sheriff's Office, Law Enforcement Center, 1580 Highway 55, Hastings, MN 55033.

8. 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.

9. MORTGAGOR(S) RELEASED FROM FINANCIAL OBLIGATION ON THE MORTGAGE: NONE.

10. 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.

11. THE RIGHT TO VERIFICATION OF THE DEBT AND IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION. THIS IS AN ATTEMPT TO COLLECT A DEBT, AND ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.

Dated: February 24, 2012

BREMER BANK, NATIONAL ASSOCIATION, a national banking association

Mortgagee

BY: LINDQUIST & VENNUM PLLP

By _________________

William P. Wassweiler (MN #0232348)

Attorneys for Mortgagee

4200 IDS Center

80 South Eighth Street

Minneapolis, Minnesota 55402

(612) 371-3211

3/1-4/5/2012

Tags: public notices, foreclosures