NOTICE OF SHERIFF'S MORTGAGE
FORECLOSURE SALE BY PUBLIC AUCTION
Name of Mortgagor: Tollefson Development, Inc.
Name of Mortgagee: Harris, N.A. as successor by merger to Harris Trust and Savings Bank
Original Principle Amount Secured by the Mortgage: $19,149,153.00
Date and Recording Information of Mortgage: Dated November 23, 2004; recorded with the County Recorder, Dakota County (Minnesota) on May 24, 2005, as Document No. 2324851, as supplemented by Supplement to Mortgage and Security Agreement with Assignment of Rents dated May 23, 2007, and recorded with the County Recorder, Dakota County (Minnesota) on July 30, 2007, as Document No. 2534165 (collectively, the "Mortgage").
Amount Due as of April 22, 2009: $11,333,676.59 (which includes, without limitation, interest, costs, and fees, all of which will continue to accrue)
Legal Description of Mortgaged Premises: The real and personal property as described in the Mortgage, which real property is legally described on Exhibit A hereto (collectively, the "Mortgaged Premises").
Common Address and Tax Parcel Identification Number of Mortgaged Premises: The Mortgaged Premises have the common addresses and tax parcel identification numbers that are set forth on Exhibit A hereto.
Mortgage Origination And Servicer Information: The Mortgagee does not have a loan servicer; the Mortgagee services the loan. There is no transaction agent. The Mortgagee's address is 115 South LaSalle Street, 12th Floor West, Chicago, Illinois 60603. A person with knowledge of the loan and the Mortgage can be reached at (312) 461-7929 or you may call the undersigned.
Time, Place, and Manner of Sale: 10:00 a.m. on July 7, 2009, at the Dakota County Sheriff's Office, Law Enforcement Center, 1580 Highway 55, Hastings, Minnesota 55033. The Parcels that comprise the Mortgaged Premises may be sold separately, in gross, or both.
Non-Merger of Interests: Any purchase by the Mortgagee of the Mortgaged Premises at the foreclosure sale and/or the Mortgagee's obtaining title to the Mortgaged Premises at the end of the redemption period shall not cause the lien of the Mortgage, or any other lien or interest in favor of the Mortgagee against or with respect to the Mortgaged Premises, to merge with fee title or any other interest acquired by the Mortgagee, or in any manner otherwise impair the security or priority of such liens or the Mortgagee's rights and remedies under such liens and applicable law. To the contrary, the Mortgagee intends to reserve, and hereby expressly reserves, all of its rights and remedies with respect to such liens and interests.
Redemption: Mortgagor's Redemption Period shall expire twelve months after the date of sale.
Deficiency: The Mortgagee preserves the right to pursue any deficiency in the indebtedness in accordance with applicable law.
Dated: May 1, 2009
WINTHROP & WEINSTINE, P.A.
By: /s/ Mark J. Mrnak
Mark J. Mrnak (#0388112)
225 South Sixth Street
Minneapolis, Minnesota 55402
Attorneys for Harris, N.A.