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NOTICE OF VOLUNTARY MORTGAGE FORECLOSURE SALE

Wednesday, December 12, 2018 - 6:08pm

NOTICE OF VOLUNTARY MORTGAGE FORECLOSURE SALE

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.

YOU ARE NOTIFIED THAT: Default has occurred in the conditions of the following mortgage:

DATE OF MORTGAGE: October 30, 2002

MORTGAGOR: Solid Properties, Inc. and Solid Properties, a Minnesota Partnership

ORIGINAL MORTGAGEE: American Bank of the North

ASSIGNEE OF MORTGAGEE: Key Star Capital Fund, L.P.

DATE AND PLACE OF RECORDING: Mortgage recorded on January 27, 2003, as Document No. 884198, in the Office of the County Recorder in and for St. Louis County.

ASSIGNMENTS OF MORTGAGE: Assignment of Mortgage from American Bank of the North to Key Star Capital Fund, L.P. dated June 28, 2017 and recorded on July 6, 2017 as Document No. 1312648, in the Office of the County Recorder in and for St. Louis County.

LEGAL DESCRIPTION OF PROPERTY: A parcel of land lying in the Southeast Quarter of the Northeast Quarter (SE1/4 of NE1/4), Section Thirteen (13), Township Fifty-Eight (58), Range Eighteen (18), more particularly described as follows:

Assuming the south boundary line of said SE1/4 of NE1/4 to have a bearing of South 80 degrees 29 minutes 42 seconds West and beginning at the southeast corner of said SE1/4 of NE1/4, thence South 80 degrees 29 minutes 42 seconds West along said south boundary line for a distance at 458.31 feet to a point on the easterly right-of-way line of the Duluth Winnipeg and Pacific Railroad right-of-way; thence North 12 degrees 37 minutes 09 seconds West along said right-of-way for a distance of 577.89 feet to a point; thence North 75 degrees 55 minutes 06 seconds East for a distance of 413.52 feet to a point on the westerly right-of-way line of State Trunk Highway No. 53; thence southeasterly along said right-ofway on a simple curve concave to the northeast which has a tangent bearing of North 60 degrees 32 minutes 44 seconds West and a central angle of 8 degrees 52 minutes 19 seconds and a radius of 1402.31 feet for a distance of 218.67 feet to a point on the easterly boundary line of said SE1/4 of NE1/4; thence South 7 degrees 43 minutes 49 seconds East for a distance of 411.19 feet to the point of beginning, EXCEPT that part described as follows:

Assuming the south boundary line of said SE1/4 of NE1/4 to have a bearing of South 80 degrees, 29 minutes, 42 seconds West and starting at the southeast comer of said SE1/4 of NE1/4; thence South 80 degrees, 29 minutes, 42 seconds West along said south boundary line for a distance of 458.31 feet to a point on the east right-of-way line of the Duluth, Winnipeg & Pacific Railroad; thence North 12 degrees, 37 minutes, 09 seconds West along said right-of-way for a distance of 577.89 feet to a point; thence North 75 degrees, 55 minutes, 05 seconds East 292.27 feet; thence South 14 degrees, 04 minutes, 55 seconds East 45.00 feet to the point of beginning of the parcel to be described; thence continue South 14 degrees, 04 minutes, 55 seconds East 125.00 feet; thence North 75 degrees, 55 minutes, 05 seconds East 115.76 feet; thence North 32 degrees, 11 minutes 22 seconds West 82.93 feet; thence northwesterly 84.08 feet along a tangential curve concave to the southwest with a radius of 67.00 feet and a central angle of 71 degrees, 54 minutes, 05 seconds; thence South 75 degrees, 54 minutes, 33 seconds West tangent to said curve 26.30 feet to the point of beginning, containing 0.26 acres, more or less; and

That part of Lot Two (2) beginning at the intersection of the southerly highway right-of-way and the westerly line of Lot Two (2); thence Southeasterly along said right-of-way 360 feet; thence Southwesterly 367 feet to the West line of Lot Two (2); thence northerly along the west line 580 feet to the point of beginning; in Section Eighteen (18), Township Fifty-eight (58), Range Seventeen (17).

EXCEPT THE FOLLOWING DESCRIBED PARCEL: A parcel of land lying in Government Lot 2 of Section 18, Township 58, Range 17 described as follows: Beginning at a point on the North line of "PEARSALL INDUSTRIAL PARK" according to the recorded plat thereof and the east right of way of Sixteenth Avenue West; and assigning a bearing of North 87 degrees 04 minutes 27 seconds East to the north line of said plat; thence North 01 degrees 11 minutes 35 seconds West for a distance of 110.00 feet; thence North 89 degrees 08 minutes 32 seconds East for a distance of 207.20 feet: thence South 35 degrees 28 minutes 41 seconds West for a distance of 137.18 feet to a point on the north right of way of Seventeenth Street South; thence 89 degrees 22 minutes 24 seconds West along said right of way for a distance of 125.28 feet to the point of beginning, which was conveyed to George J. Tokarczyk by Warranty Deed recorded October 12, 2005 as Document Number 997773.

TAX PARCEL NOS.: 175-0071-01217 and 090-0180-01013

ADDRESS OF PROPERTY: 5463-5469 17th Avenue West, Virginia, Minnesota 55792

COUNTY IN WHICH PROPERTY IS LOCATED: St. Louis County

ORIGINAL PRINCIPAL AMOUNT OF MORTGAGE: $2,213,568.68

AMOUNT DUE AND CLAIMED TO BE DUE AS OF DATE OF NOTICE, INCLUDING TAXES, OF ANY, PAID BY MORTAGEE: $1,330,308.48 as of November 19, 2018.

That prior to the commencement of this mortgage foreclosure proceeding Mortgagee complied with all notice requirements as required by statute; that no action or proceeding has been instituted at law or otherwise to recover the debt secured by such Mortgage or any part thereof.

PURSUANT to the Power of Sale contained in said Mortgage and the Voluntary Foreclosure Agreement between the parties, the above-described Property will be voluntary foreclosed and sold by the Sheriff of said County as follows:

DATE AND TIME OF SALE: December 20, 2018 at 10:00 a.m.

PLACE OF SALE: Office of St. Louis County Sheriff

Sheriff's Main Civil Office - Room 103

100 North Fifth Avenue West

Duluth, MN 55802

To pay the debt then secured by said Mortgage and taxes, if any paid by mortgagee on said premises and the costs and disbursements, including attorney fees allowed by law. The time allowed by law for redemption by said mortgagor, its personal representatives or assigns is two (2) months after the date of the sale, except in the case where the real estate is subject to a federal tax lien and then the mortgagor and the United States are entitled to a 120-day redemption period pursuant to Minn. Stat. 582.32, subd. 5(d).

Pursuant to Minn. Stat. 582.32, Mortgagor and Mortgagee have entered into a Voluntary Foreclosure Agreement dated October 15, 2018, and recorded on October 15, 2018, as Document No. 01342624 in the Office of the County Recorder in and for St. Louis County.

Junior lienholders may redeem in the order and manner provided in Minn. Stat. 582.32, subdivision 9, beginning after the expiration of the mortgagors redemption period.

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.

MORTGAGOR RELEASED FROM FINANCIAL OBLIGATION OF MORTGAGE: None.

Transaction Agent; residential mortgage servicer; lender or broker: Not applicable.

Transaction Agents mortgage ID number (MERS number): Not applicable.

Name of mortgage originator: Not applicable.

Dated: November 19, 2018

This Notice is issued by:

Key Star Capital Fund, L.P.

Assignee of Mortgagee

Kueppers, Kronschnabel & Skrypek, P.A.

William M. Kronschnabel #58518

Attorney for Assignee of Mortgagee

101 East Fifth Street, Suite 1500

St. Paul, MN 55101

Telephone: (651) 222-5000

D.N.T. Nov. 22, 29; Dec. 6, 13, 2018

2703178


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