1678592 Foreclosure - Blue Spruce Development, Inc.
Foreclosure Sale Publish April 17, 24, May 1, 8, 15, 22, 2013 NOTICE OF MORTGAGE FORECLOSURE SALE NOTICE IS HEREBY GIVEN, that default has occurred in the conditions of that certain Mortgage dated November 1, 2007, executed by Blue Spruce Develop...
Publish April 17, 24, May 1, 8, 15, 22, 2013
MORTGAGE FORECLOSURE SALE
NOTICE IS HEREBY GIVEN, that default has occurred in the conditions of that certain Mortgage dated November 1, 2007, executed by Blue Spruce Development, Inc., as mortgagor, to Bell State Bank & Trust f/k/a State Bank & Trust, a North Dakota corporation, as mortgagee. The Mortgage was recorded in the office of the County Recorder in and for the County of Douglas, State of Minnesota on November 1, 2007, as Document No. 300636.
The premises described in and subject to the above-referenced Mortgage is:
Lots Six (6), Eight (8), Eleven (11), Twelve (12), Sixteen (16), Nineteen (19), and Twenty-One (21), Block One (1), Maple Lakes Estates, Common Interest Community No. 237.
The above-described mortgage secures obligations originally due under the terms of Promissory Note #1615035, in the original principal sum of $1,053,500.00. No mortgagor has been released from financial obligation on said Mortgage. No action or proceeding has been instituted at law to recover the debt secured by the Mortgage or any part thereof. There is due on said Mortgage, including principal, late fees, and interest to date hereof, and taxes, if any, paid by the mortgagee, the amount of $1,090,318.04. Interest will continue to accrue from and after the date of this Notice and taxes may be paid.
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. Pursuant to the power of sale contained in the Mortgage, the Mortgage will be foreclosed and the mortgaged property sold by the Sheriff of Douglas County at public auction on the 30th day of May, 2013, at 10:00 a.m. at the Douglas County Sheriff's Office, 216 7th Avenue West, Alexandria, MN 56308. The proceeds of the sale will be utilized to pay the debt secured by the Mortgage, and taxes, if any, on said premises paid by mortgagee, the costs of sale and attorney's fees and disbursements as allowed by law.
The time allowed by law for redemption by the mortgagors, or mortgagors' personal representatives or assigns, is six months from the date of said 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.
Dated this 10th day of April, 2013.
/s/ Michael L. Gust
Michael L. Gust (MN #0311169)
Sanden & Thompson
4132 30th Avenue South, Suite 100
P.O. Box 10247
Fargo, ND 58106-0247
Attorneys for Bell State Bank & Trust