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NOTICE OF MORTGAGE FORECLOSURE SALE PURSUANT TO VOLUNTARY MORTGAGE FORECLOSURE AGREEMENT

Wednesday, August 5, 2009 - 2:33pm

NOTICE OF MORTGAGE FORECLOSURE SALE PURSUANT TO VOLUNTARY MORTGAGE FORECLOSURE AGREEMENT

NOTICE IS HEREBY GIVEN, that default has occurred in the conditions of the following described mortgage:

DATE OF MORTGAGE: June 21, 2006.

MORTGAGOR(S): M.B. Development, Inc., a Minnesota corporation. MORTGAGEE: The RiverBank.

DATE AND PLACE OF RECORDING: Filed June 23, 2006, Goodhue County Recorder, as Document No. A 534066.

ASSIGNMENT(S) OF MORTGAGE: NA.

The land described in said mortgage is not registered land.

MORTGAGE HOLDER (as defined in section 58.02):

Transaction Agent: NA.

Transaction Agent's Mortgage Identification Number on Mortgage: NA.

Lender or Broker: The RiverBank.

Residential Mortgage Servicer: NA.

MORTGAGE ORIGINATOR (as defined in section 58.02): The RiverBank.

MORTGAGED PROPERTY ADDRESS: 224 Ball Field Drive, 240 Ball Field Drive, 248 Ball Field Drive, 256 Ball Field Drive, 264 Ball Field Drive, 272 Ball Field Drive, 280 Ball Field Drive, 302 Ball Field Drive, 310 Ball Field Drive, 318 Ball Field Drive, 326 Ball Field Drive, 334 Ball Field Drive, 342 Ball Field Drive, 350 Ball Field Drive, 358 Ball Field Drive, 366 Ball Field Drive, 374 Ball Field Drive, 382 Ball Field Drive, 390 Ball Field Drive, 398 Ball Field Drive, 300 Goodhue Street North, 308 Goodhue Street North, 316 Goodhue Street North, 328 Goodhue Street North, numerous property addresses not on file, Red Wing, MN, 55066.

TAX PARCEL I.D. NO.: 55-241-0020, 55-241-0050, 55-241-0070, 55-241-0080, 55-241-0090, 55-241-0100, 55-241-0110, 55-241-0120, 55-241-0130, 55-241-0140, 55-241-0150,55-241-0160,55-241-0170, 55-241-0180, 55-241-0190, 55-241-0200, 550-241-0210, 55-241-0220, 55-241-0230, 55-241-0240, 55-241-0250, 55-241-0260, 55-241-0270, 55-241-0280, 55-241-0300, 55-241-0320, 55-241-0330, 55-241-0340, 55-241-0360, 55-241-0370, 55-241-0380, 55-241-0390, 55-241-0400, 55-241-0410,55-241-0420, 55-241-0430.

LEGAL DESCRIPTION OF PROPERTY: Outlets A, C, D, E, and I, Highlands of Red Wing; CIC No. 81; Outlets F, G, H and J, Highlands of Red Wing; Lots 1, 4, 6, 7, 8, 9, 10, 11 and 12, Block 2, Highlands of Red Wing, CIC No. 82; Lots 1,2,3, 4, 5, 6, 7, 8, 9,10,11, 12, 13 and 14, Blocks, Highlands of Red Wing; Lots 1, 3, 5 and 6, Block 4, Highlands of Red Wing, CIC No. 83, Goodhue County, Minnesota.

COUNTY IN WHICH PROPERTY IS LOCATED: Goodhue.

ORIGINAL PRINCIPAL AMOUNT OF MORTGAGE: $2,928,907.00.

AMOUNT CLAIMED TO BE DUE ON THE MORTGAGE ON THE DATE OF THIS NOTICE: $3,164,223.61.

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. That no action or proceeding has been instituted at law or otherwise to recover the debt secured by said mortgage, or any part thereof.

This mortgage foreclosure is being conducted in accordance with the terms and conditions of a Voluntary Foreclosure Agreement dated May 20, 2009.

PURSUANT to the power of sale contained in said mortgage, the above described property will be sold by the Sheriff of said county as follows:

DATE AND TIME OF SALE: September 9, 2009 at 2:00 p.m.

PLACE OF SALE: Main lobby of the Law Enforcement Center, 430 West Sixth Street, in the City of Red Wing, County of Goodhue, State of Minnesota.

to pay the debt then secured by said mortgage, and taxes, if any, on said premises, and the costs and disbursements, including attorneys' fees allowed by law subject to redemption within two (2) months from the date of said sale by the mortgagor(s), their personal representatives or assigns. Each holder of a junior lien may redeem in the order and manner provided in Minnesota Statutes ยง582.32, Subd. 9, beginning after the expiration of the mortgagor's redemption period.

MORTGAGOR(S) RELEASED FROM FINANCIAL OBLIGATION ON MORTGAGE: NA.

Dated: July 27, 2009.

THE RIVERBANK, Mortgagee Is/ Peter B. Tiede PETER B. TIEDE -for-Atty. I.D. #245094 MURNANE BRANDT Attorneys for Mortgagee 30 East Seventh Street, Suite 3200 St. Paul, Minnesota 55101 Telephone (651) 227-9411

(Aug. 5, 12, 19, 26)


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