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2009_1207_Packet
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2009_1207_Packet
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1/9/2012 3:21:20 PM
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12/14/2009 8:28:47 AM
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Attachment D <br />MORTGAGE <br />($426,500.00 LCDA/TBRA Loan) <br />THIS MORTGAGE IS EXEMPT FROM MORTGAGE REGISTRATION TAX PURSUANT TO <br />MINN STAT SECTION 287.04 (f) BECAUSE THIS MORTGAGE WAS MADE UNDER THE <br />MORTGAGEE'S LOW AND MODERATE INCOME OR OTHER AFFORDABLE HOUSING <br />PROGRAM THAT PROVIDES FOR LOANS THAT MEET THE INCOME LIMITS AND <br />SALES PRICE LIMITS AS DETERMINED UNDER FEDERAL AND STATE LAW. <br />THIS MORTGAGE is made this day of December, 2009 by and between <br />SIENNA GREEN I LIMITED PARTNERSHIP, a Minnesota limited partnership <br />("Mortgagor") in favor of THE CITY OF ROSEVII,LE, a Minnesota municipal corporation <br />("Mortgagee"). <br />WHEREAS, Mortgagor and Mortgagee entered into that certain Note dated as of the <br />same date as this Mortgage (the "Note"), pursuant to which Mortgagee has granted, or <br />committed to grant, Mortgagor a loan in the amount of Four Hundred Twenty-Six Thousand Five <br />Hundred and No/100 Dollars ($426,500.00) (the "Loan"); and <br />WHEREAS, pursuant to the Note, the entire indebtedness of Mortgagor to Mortgagee of <br />the Loan is due and payable in full on December 31, 2039; and <br />WHEREAS, this Mortgage is given <br />Mortgagor to Mortgagee under the Note, as <br />Mortgagee under the terms of this Mortgage. <br />to secure repayment of all amounts due by <br />well as other amounts due by Mortgagor to <br />NOW, THEREFORE, in consideration of the foregoing, and for other good and <br />valuable consideration, Mortgagor hereby grants, bargains, sells and conveys to Mortgagee the <br />following real property in Ramsey County, Minnesota (the "Premises") legally described on <br />Exhibit A attached hereto and incorporated herein to have and to hold the same, together with all <br />the hereditaments and appurtenances thereto belonging or in anywhere appertaining, forever. <br />PROVIDED NEVERTHELESS that if Mortgagor, or Mortgagor's successors or <br />permitted assigns, shall (i) pay, or cause to be paid, to Mortgagee the principal amount of the <br />fb.us.4624999.03 <br />
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