Cedar Valley Resort
 
Daytripper
"Where Olmsted County News Comes First"
Online Edition
Sunday, May 19th, 2013
Volume ∞ Issue ∞
 

Foreclosure Notice Foreclosure Sale


Wed, Oct 3rd, 2012
Posted in Legals

Date: September 21, 2012.

YOU ARE NOTIFIED THAT:

1. Default has occurred in the conditions of the Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated May 31, 2007 (the Mortgage) executed by Barlow Plaza, LLC, a Delaware limited liability company (the “Mortgagor”, as Mortgagor, to PNC Bank, National Association, a national banking association (“PNC”), as Mortgagee, and filed for record on June 13, 2007, as Document Number A-1137404, in the Office of the County Recorder of Olmsted County, Minnesota. The land described in the Mortgage is not registered land.

2. The Mortgage has been assigned as follows: a. PNC transferred all of its right, title and interest under the Mortgage to Wells Fargo Bank, National Association, as Trustee for the Registered Holders of Citigroup Commercial Mortgage Trust 2007-C6, Commercial Mortgage Pass-Through Certificates, Series 2007-C6 (the “Original Assignee”), pursuant to an Assignment of Loan Documents dated June 15, 2007 and filed for record on November 20, 2007, as Document Number A-1152766, in the Office of the County Recorder of Olmsted County, Minnesota. b. The Original Assignee subsequently transferred all of its right, title and interest under the Mortgage to U.S. Bank National Association, as Trustee for the Registered Holders of Citigroup Commercial Mortgage Trust 2007-C6, Commercial Mortgage Pass-Through Certificates, Series 2007-C6 (the “Trust”) pursuant to an Assignment of Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing and Assignment of Assignment of Leases and Rents effective as of June 30, 2009 and filed for record on August 2, 2010, as Document Number A-1236464, in the Office of the County Recorder of Olmsted County, Minnesota. c. The Trust subsequently transferred all of its right, title and interest under the Mortgage to 1315 6TH Street NW Holdings, LLC, a Maryland limited liability company (the “Assignee”), pursuant to an Assignment of Mortgage, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated August 16, 2012 and filed for record on August 29, 2012, as Document Number A-1297698, in the Office of the County Recorder of Olmsted County, Minnesota.

3. The maximum principal amount secured by the Mortgage was Sixteen Million Dollars and 00/100 ($16,000,000.00)

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. As of April 1, 2012, the amount due on the Mortgage, and taxes, if any, was at least $19,438,458.92, plus other amounts due and owing pursuant to the Mortgage, the related loan and security documents and applicable law, less such amounts as are held by the Assignee in any applicable escrow, reserve, or suspense account. Interest, default interest, attorneys’ fees and costs, and other amounts owing pursuant to the Mortgage and related loan and security documents continue to accrue.

7. Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the land located in Benton County, Minnesota and described as follows: See attached Exhibit A. and related personal property as described in the Mortgage will be sold by the County Sheriff of Olmsted County, Minnesota, at public auction on November 16, 2012 at 10:00 a.m. at Olmsted County Sheriff’s Department, 101 4th St SE Rochester, Minnesota, 55904 8. The time allowed by law for redemption by Mortgagor(s) or Mortgagor’s personal representatives or assigns is six (6) months after the date of sale.

9. 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.

EXHIBIT A

Legal Description

The real property situated in the County of Olmsted, State of Minnesota, described as follows:

Parcel A:

That part of the Lots 14 and 15, Auditor’s Plat “0”, Olmsted County, Minnesota, and of the Southeast Quarter of the Northeast Quarter (SEy,j NW’l4) of Section Thirty-four (34), Township One Hundred Seven (107) North, Range Fourteen (14) West, Olmsted County, Minnesota, described as follows:

Commencing at the Southeast corner of said Southeast Quarter of the Northeast Quarter; thence Northerly on a Minnesota State Plane Grid azimuth of00°00’12” along the East line of said Southeast Quarter of the Northeast Quarter 83.60 feet to the intersection with the Easterly extension of the Northerly right-of-way line of Sixth Street NW and the point of beginning; thence continue Northerly 00°00’12” azimuth along said East line 372.51 feet to a point 30.00 feet Southerly as measured at a right angle from the center line of the mainline track of the Dakota, Minnesota and Eastern Railroad; thence Westerly 286°15’12” azimuth parallel with said center line 740.00 feet; thence Southerly 180°00’12” azimuth 124.92 feet to the Northerly line of said Lot 15; thence Westerly 286° 15’12” azimuth along the North line of said Lot 15 and along the North line of said Lot 14 a distance of 204.71 feet; thence Southerly 189°08’19” azimuth 96.75 feet to the West line of said Lot 14; thence Southerly 180°00’12” azimuth along the West line of said Lot 14 a distance of287.73 feet to the Northeasterly right-of-way line of Fifth Street NW (Civic Center Drive NW); thence Southeasterly 132°10’12” azimuth along said Northeasterly right-of-way line 192.15 feet to the Northerly right-of-way line of said 6th Street NW; thence Easterly 89°59’12” azimuth along said Northerly right-of-way line 780.11 feet to point of beginning.

Excepting that part of Lot 14, Auditor’s Plat “0”, according to the plat thereof on file at the County Recorder’s office, Olmsted County, Minnesota, lying in the Southeast Quarter of the Northeast Quarter of Section 34, Township 107 North, Range 14 West, described as follows:

Commencing at the Southeast corner of said Northeast Quarter; thence Northerly on a Minnesota State Plane Grid Azimuth from North of 00 degrees 00 minutes 12 seconds along the East line of said Northeast Quarter 83.60 feet to the Easterly extension of the Northerly right-of-way line of 6th Street NW; thence Westerly 269 degrees 59 minutes 12 seconds azimuth along said Northerly right-of-way line 780.11 feet to the Northeasterly right-of-way line of Civic Center Drive NW; thence Northwesterly 312 degrees 10 minutes 12 seconds azimuth along said Northwesterly right-of-way line 174.75 feet to the point ofbeginning; thence continue Northwesterly 312 degrees 10 minutes 12 seconds azimuth along said Northeasterly right-of-way line 17.40 feet to the Westerly line of said Lot 14; thence Northerly 00 degrees 00 minutes 12 seconds azimuth along said West line 287.73 feet; thence Northerly 09 degrees 08 minutes 19 seconds azimuth along said West line 96.75 feet; thence Easterly 106 degrees 15 minutes 12 seconds azimuth along the Northerly line of said Lot 14, a distance of 5.42 feet; thence Southeasterly 193.12 feet on a nontangential curve concave Westerly, having a radius of 290.00 feet, a central angle of38 degrees 09 minutes 16 seconds, and a chord azimuth of 167 degrees 34 minutes 50 seconds; thence Southerly 186 degrees 39 minutes 28 seconds azimuth 87.06 feet; thence Southwesterly 128.47 feet on a nontangential curve concave Northwesterly, having a radius of 340.00 feet, a central angle of 21 degrees 38 minutes 57 seconds, and a chord azimuth of 197 degrees 28 minutes 57 seconds to the point of beginning.

Also excepting Parcel No.4, as identified on the City of Rochester Street Right of Way Plat No.7, said Plat filed of record on April 21, 1995, as Document No. 702375. Parcel B: Part ofthe Southeast Quarter of the Northeast Quarter and part of the Northeast Quarter of the Southeast Quarter of Section 34, Township 107 North, Range 14 West, Olmsted County, Minnesota, and part of Lots 17 and 18, Auditor’s Plat “D”, according to the plat thereof on file at the County Recorder’s office, Olmsted County, Minnesota, described as follows:

Commencing at the southeast comer of said Northeast Quarter; thence northerly on a Minnesota State Plane Grid Azimuth from north of 00 degrees 00 minutes 12 seconds along the east line of said Northeast Quarter 17.60 feet to the intersection with the easterly extension of the southerly right-of-way line of6lh Street N.W.; thence westerly 269 degrees 59 minutes 12 seconds azimuth along said easterly extension line and along said southerly right-of-way line 159.96 feet to the point of beginning; thence continue westerly 269 degrees 59 minutes 12 seconds azimuth along said southerly right-of-way line 567.31 feet to the northeasterly right-of-way line of Civic Center Drive N,W.; thence southeasterly 152.69 feet along said right-of-way line on a nontangential curve concave northeasterly, having a radius of 902043 feet; a central angle of 09 degrees 41 minutes 41 seconds, and a chord azimuth of 126 degrees 55 minutes 07 seconds; thence southerly 178 degrees 20 minutes 42 seconds azimuth along said right-of-way line 6.75 feet; thence southeasterly 115 degrees 10 minutes 22 seconds azimuth along said right-of-way line 207.20 feet; thence easterly 103 degrees 56 minutes 42 seconds azimuth along said right-of-way line 220.56 feet; thence easterly 91 degrees 58 minutes 26 seconds azimuth along said right-of-way line 50.61 feet; thence northerly 358 degrees 20 minutes 42 seconds azimuth 241.62 feet to the point of beginning.

Parcel C:

That part of Lot 16, Auditor’s Plat “D”, according to the plat thereof on file at the County Recorder’s Office, Olmsted County, Minnesota, and of the Southeast Quarter of the Northeast Quarter (SE!!.I NE!!.I) of Section Thirty-four (34), Township One Hundred Seven (107) North, Range Fourteen (14) West, Olmsted County, Minnesota, described as follows:

Commencing at the Southeast comer of Northeast Quarter; thence Northerly on a Milmesota State Plane Grid azimuth of 00 degrees 00 minutes 12 seconds along the East line of said Northeast Quarter 17.60 feet to the intersection with the Easterly extension of Southerly right-of-way line of Sixth Street NW; thence Westerly 269 degrees 59 minutes 12 seconds azimuth along said Easterly extension and along said Southerly right-of-way line 36.00 feet to the point of beginning; thence continue Westerly 269 degrees 59 minutes 12 seconds along said Southerly right-of-way line 691.23 feet to the Northeasterly right-of-way line of Fifth Street NW (Civic Center Drive NW); Northwesterly 3.77 feet along said Northeasterly right-of-way line on a nontangential curve concave Northeasterly having a central angle of 00 degrees 14 minutes 22 seconds, a radius of 902.43 feet, and a chord azimuth of312 degrees 03 minutes 01 seconds; thence Northwesterly 312 degrees 10 minutes 12 seconds azimuth along said Northeasterly right-of-way line 94.43 feet to the Northerly right-of-way line of Sixth Street NW; thence Easterly 89 degrees 59 minutes 12 seconds azimuth 764.01 feet to a point 36.00 feet Westerly of the East line of said Northeast

Quarter; thence Southerly 180 degrees 00 minutes 12 seconds azimuth 66.00 feet to the point of beginning.

Excepting out the East 159 feet thereof, and reserving to the City of Rochester a general utility easement under, over and across the Northerly 43 feet thereof.

Olmsted County, Minnesota

Attorneys for Mortgagee or Assignee of Mortgagee:

Malkerson Gunn Martin LLP

1900 U.S. Bank Plaza, South Tower 220 South Sixth Street

Minneapolis, MN 55402

-and-

Venable LLP

750 East Pratt Street, Suite 900

Baltimore, MD 21202

By s/ Thomas F. DeVincke

Publish 9/26-11/7

No Comments Yet. Be the first to comment!





Your comment submission is also an acknowledgement that this information may be reprinted in other formats such as the newspaper.


Hoffmann Stables Jailhouse Inn
VBC video
Preston Tourism