Roundbank vs. Farmington Development Corp. - Mortgage Foreclosure

NOTICE OF MORTGAGE FORECLOSURE SALE

DATE: March 12, 2012

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: June 30, 2010

2. Mortgagors: Farmington Development Corporation, a Minnesota Corporation

3. Mortgagees: Roundbank

4. Recording Information:

Recorded on July 1, 2010, as Document Number 2738331, in the Office of the County Recorder of Dakota County, Minnesota.

5. Assignments of Mortgage, if any:

INFORMATION REGARDING

MORTGAGED PREMISES

6. Tax parcel identification number of the mortgaged premises: 14.24500.01.040

7.Legal description of the mortgaged premises:

Lot 4, Block 1, Executive Estates, according to the recorded plat thereof, and situate in Dakota County, Minnesota.

8. The physical street address, city, and zip code of the mortgaged premises:

22427 CARINA COURT

FARMINGTON, MN

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/are Roundbank.

INFORMATION REGARDING

FORECLOSURE

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

11. The original principal amount secured by the Mortgage was $ 183,419.00.

12. At the date of this notice the amount due on the Mortgage, including taxes, if any, paid by the holder of the Mortgage, is: $193,324.23.

13. 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 May 7, 2012, 10:00 a.m., at the lobby of Law Enforcement Center, 1580 Highway 55, Hastings, Minnesota 55033.

14. 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.

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.

Roundbank, Mortgagee

VIRTUS LAW PLLC

/s/ Lesley J. Adam

Nathan W. Nelson (#0347401)

Lesley J. Adam (#035093X)

Attorneys for Mortgagee

7040 Lakeland Avenue, Suite 111

Brooklyn Park, MN 55428

(763) 432-2169

THIS IS A COMMUNICATION FROM A DEBT COLLECTOR

(March 29, April 5, 12, 19, 26, May 3)

Tags: public notices, foreclosures