1566 Rice St, Saint Paul, MN
NOTICE OF MORTGAGE FORECLOSURE SALEDate: February 2, 2026.
1. A default has occurred in the conditions of that certain Mortgage executed by Lakeland Property LLC, a Minnesota limited liability company, as mortgagor, in favor of Northeast Bank, a Minnesota banking corporation, as mortgagee, dated August 29, 2022, and filed of record on September 1, 2022, as Document No. T02740250, in the Office of the Registrar of Titles in and for Ramsey County, Minnesota, and recorded on September 2, 2022, as Document No. A04962241, in the Office of the County Recorder in and for Ramsey County, Minnesota ("Mortgage").
2. The original principal amount secured by the Mortgage was: $757,900.00.
3. No action or proceeding at law is now pending to recover the debt secured by the Mortgage or any part thereof.
4. 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.
5. As of the date of this notice, the amount due on the Mortgage is $751,932.52.
6. Pursuant to the power of sale in the Mortgage, the Mortgage shall be foreclosed, and the land located at 1566 Rice Street, Saint Paul, Minnesota 55117, Property Tax ID Nos. 19-29-22-22-0039, 19-29-22-22-0034, 19-29-22-22-0035, 19-29-22-22-0036, 19-29-22-22-0037, and 19-29-22-22-0038, and legally described as follows:
Parcel 1: Torrens Certificate No. 339620
Lots 15, 16, 17, 18, 19, and 20, Block 8, Merrill's Division of Rice Street Villas, Ramsey County, Minnesota.
Parcel 2: Abstract
Lot 10, Block 8, Merrill's Division of Rice Street Villas, Ramsey County, Minnesota.
Parcel 3: Abstract
Lot 11, Block 8, Merrill's Division of Rice Street Villas, Ramsey County, Minnesota.
Parcel 4: Torrens Certificate No. 339620
Lot 12, Block 8, Merrill's Division of Rice Street Villas, Ramsey County, Minnesota.
Parcel 5: Torrens Certificate No. 339620
Lot 13, Block 8, Merrill's Division of Rice Street Villas, Ramsey County, Minnesota.
Parcel 6: Torrens Certificate No. 339620
Lot 14, Block 8, Merrill's Division of Rice Street Villas, Ramsey County, Minnesota (collectively, "Property"),
shall be sold by the Sheriff of Ramsey County, Minnesota, at public auction on March 26, 2026, at 10:00 a.m., at the Ramsey County Sheriff's Office: 360 Wabasha Street North, Suite 111, Saint Paul, Minnesota 55102.
7. 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.
8. The mortgagor must vacate the Property on or before 11:59 p.m. on September 28, 2026, if the Mortgage is not reinstated under Minn. Stat. § 580.30 or the property is not redeemed under Minn. Stat. § 580.23.
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 MINN. STAT. § 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.
10. The mortgagors released from financial obligation on the Mortgage are: None.NORTHEAST BANK
(A MINNESOTA BANKING CORPORATION)By its attorneys:
JELLUM LAW, P.A.
/s/ Garth G. Gavenda
Garth G. Gavenda, #310918
Attorneys for Mortgagee
7616 Currell Boulevard, Suite 245
Woodbury, Minnesota 55125
Garth.Gavenda@JellumLaw.com
(651) 439-2951(February 2-9-16-23-March 2-9)
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