Mortgage $225kDocument Number: A730788
Filed and/or Recorded on
Aug 13, 2021 9:39 AM
Office of the County Recorder/Registrar of Titles
Carver County, Minnesota
Kaaren Lewis, County Recorder
Crystal Campos, Auditor
Mary Kaye Wahl, Treasurer
Deputy CS Pkg ID: 7343594
Document Recording Fees $ 46.00
Conservation Fee $ 5.00
Mortgage Registration Tax $ 517.50
Document Total $ 568.50
Requesting Party: CUSTOM HOME BUILDERS TITLE, LLC
Pages: 23
This cover page has been added to this document by Carver County Land Records
and is now an official part of this recorded document
(Reserved for Recording)
COMBINATION MORTGAGE,
SECURITY AGREEMENT, FIXTURE FINANCING STATEMENT AND
ASSIGNMENT OF LEASES AND RENTS
This Combination Mortgage, Security Agreement, Fixture Financing Statement and Assignment of Leases
and Rents (this "Mortgage") is made this 1 lth day of August, 2021, by and among Schaefco Development,
LLC, a Minnesota limited liability company ("Mortgagor"), and Kenneth Ashfeld and Barbara Bersie-
Ashfeld ("Lender").
RECITALS
A. Concurrently herewith, Lender is extending a loan to Mortgagor in the principal sum of Two
Hundred Twenty -Five Thousand and 00/100 Dollars ($225,000.00) (the "Loan").
B. The Loan is evidenced by a Loan Letter Agreement between Lender and Mortgagor ("Letter
Agreement") and Promissory Note given by Mortgagor (the "Note") of even date herewith, with
the Note payable to the order of Lender in the principal amount set forth above with interest at the
rate provided in the Note.
C. Lender has required the execution and delivery of this Mortgage as a condition to making the Loan.
I. GRANT OF MORTGAGE
In consideration of the Loan made available to Mortgagor by Lender, (i) Mortgagor hereby mortgages,
grants, bargains, sells, assigns, transfers and conveys to Lender, forever, all the tracts or parcels of land,
together with all previously or subsequently vacated streets and alleys adjoining these tracts or parcels
described on attached Exhibit "A"; located in the County of Carver, State of Minnesota (the "Land") and
together with:
A. All buildings, structures and other improvements now standing or at any later time constructed or
placed upon the Land;
B. All hereditaments, easements, appurtenances, riparian rights, leases, rents, issues, profits,
condemnation awards, mineral rights and water rights now or later belonging or in any way
pertaining to the Land or to any building now or later located on the Land and all the estates, rights
and interests of the Mortgagor in the Land;
Custom Home Builders Title, Lu_ % G 3
10850 Old County Road 15, # 10( 1 / y `� T
Plymouth, MN 55441
C. All lighting, heating, ventilating, air-conditioning, sprinkling and plumbing apparatus and fixtures,
water and power systems, engines and machinery, boilers, furnaces, oil burners, elevators and
motors, communications systems, dynamos, transformers, security systems, electrical equipment,
and all other fixtures of every description located in or on or used or intended to be used with the
Land or any building now or later located on the Land;
D. All equipment, trade fixtures, building materials, furniture, furnishings, inventory, maintenance
equipment, and all other personal property now or later located on or about the Land or any
buildings or other improvements now or later located on the Land and used in connection with the
use, operation or maintenance of the buildings or improvements; and
E. All additions, accessions, increases, parts, fittings, accessories, replacements, substitutions,
betterments, repairs, products and proceeds to any of the foregoing.
All the foregoing, together with the Land, is called the "Property."
II. PURPOSE OF MORTGAGE
This Mortgage secures:
A. The payment of the indebtedness evidenced by the Note, including all interest, and all renewals,
extensions and modifications of the Note, and any note issued in substitution for the Note;
B. The payment of all other sums with interest that Lender advances in accordance with this Mortgage
and any other instrument securing payment of the Note; and
C. The performance of all the covenants and agreements of Mortgagor contained in the Note and this
Mortgage.
The indebtedness evidenced by the Note and all other sums described above owed by Mortgagor to Lender,
or advanced under this Mortgage, are called the "Indebtedness."
III. CONDITIONS FOR RELEASE OF MORTGAGE
Lender is to have and to hold the Property forever. If, however, Mortgagor:
A. Pays to Lender as and when due and payable all the principal of and interest on the Note and all
other Indebtedness; and
B. Keeps and performs each covenant and agreement of Mortgagor contained in the Note and this
Mortgage;
Then this Mortgage and the estate granted by this Mortgage cease and become void and Lender
shall release this Mortgage of record at the expense of Mortgagor; otherwise this Mortgage remains
in full force and effect.
IV. COVENANTS OF MORTGAGOR
Mortgagor represents, warrants and covenants to and with Lender that:
A. Mortgagor is lawfully seized of the Property in fee simple and has good right and full power to
execute this Mortgage and to mortgage the Property;
2
B. The Property is free from all liens, security interests and encumbrances except those listed in the
attached Exhibit "B" which is a part of this Mortgage (the "Permitted Encumbrances"), in particular
that certain mortgage between Borrower and West Side Capital, LLC (the Development Lender")
dated August 11, 2021;
C. Mortgagor will warrant and defend the title to the Property and the lien and priority of this Mortgage
against all claims and demands of all persons, whether now existing or later arising, other than the
Permitted Encumbrances; and
D. All buildings and improvements now or later located on the Land are or will be located entirely
within the boundaries of the Land.
The covenants and warranties of this Article survive foreclosure of this Mortgage and run with the Land.
V. PAYMENT OF INDEBTEDNESS AND INTEREST
Mortgagor shall promptly pay when due the principal of and interest on the Note according to the terms of
the Note, and all other Indebtedness, when and as due and payable. The provisions of the Note are a part
of this Mortgage by reference as fully as if set forth at length in this Mortgage.
VI. APPLICATION OF PAYMENTS
Lender shall apply all payments received from Mortgagor under the Note or this Mortgage, in the following
order of priority:
A. Interest payable on advances made under Article XIV titled "Protection of Lender's Security;"
B. Principal of advances made under Article XIV titled "Protection of Lender's Security;"
C. Interest payable on the Note;
D. Principal of the Note; and
E. Any other sums secured by this Mortgage, in the order of application Lender determines.
VII. PAYMENT OF TAXES, ASSESSMENTS AND OTHER CHARGES
A. Payment. Subject to the article titled "Permitted Contests," Mortgagor shall pay before a penalty
attaches for nonpayment, all taxes and assessments and all other charges levied upon or assessed
or placed against the Property. Mortgagor may, however, pay assessments in installments so long
as no fine or penalty is added to any installment for the nonpayment of the assessment. Mortgagor
shall likewise pay any and all governmental levies or assessments which:
Are assessed or imposed upon all or any part of the Property or become due and
payable; and
Create or appear to create a lien upon all or any part of the Property.
These governmental levies or assessments include but are not limited to maintenance charges;
owner association dues, charges or fees; and levies or charges resulting from covenants, conditions
and restrictions affecting the Property. Mortgagor shall also pay all taxes, assessments and other
charges levied upon, assessed against, or measured by, this Mortgage, the recording of this
Mortgage, or the Indebtedness.
B. Chantle in Law. If any legislative action or judicial decision after the date of this Mortgage:
1. Imposes upon Lender the obligation to pay any of the taxes, assessments or other
charges described in paragraph A above;
2. Deducts the amount secured by this Mortgage or any other lien from the value of
the Property for the purpose of taxation; or
3. Changes in any way the laws now in force for the taxation of mortgages or debts
secured by mortgages, or the manner of the operation or collection of any of these
taxes so as to affect the interests of Lender;
Then, Mortgagor shall bear and pay the full amount of these taxes, assessments or other charges.
C. Failure to Pay. Notwithstanding the foregoing provisions of this Article, Lender may declare the
whole sum secured by this Mortgage, with interest, immediately due and payable, if:
1. Mortgagor fails to pay these taxes, assessments or other charges when due, subject
to payments in the manner provided under Article XI titled "Permitted Contests";
2. For any reason payment by Mortgagor of any of these taxes, assessments or other
charges is unlawful; or
3. The payment of these taxes, assessments or other charges renders the indebtedness
evidenced by the Note usurious.
D. Notices; Receipts. Mortgagor shall promptly furnish to Lender all notices received by Mortgagor
of amounts due under this Article. If Mortgagor pays directly, Mortgagor shall promptly furnish
to Lender receipts showing these payments.
VIII. PAYMENT OF UTILITY CHARGES
Subject to the article titled "Permitted Contests," Mortgagor shall pay all charges from public or private
utility companies for electricity, gas, heat, water or sewer furnished or used in connection with all or any
part of the Property. Mortgagor shall, upon written request of Lender, furnish proper receipts showing
payment.
IX. LIENS
Subject to the article titled "Permitted Contests," Mortgagor shall not create, incur or suffer to exist any
lien, encumbrance or charge on all or any part of the Property, other than the Permitted Encumbrances.
X. COMPLIANCE WITH PERMITTED ENCUMBRANCES AND LAWS
Subject to the article titled "Permitted Contests," Mortgagor shall comply with all present and future
statutes, laws, rules, orders, regulations and ordinances:
A. Affecting all or any part of the Property or the use of the Property; or
4
B. Requiring any ordinary or extraordinary or foreseen or unforeseen repairs, changes, alterations or
improvements, whether structural or otherwise;
and shall comply with all covenants, conditions and restrictions applicable to Mortgagor in any Permitted
Encumbrance document.
XI. PERMITTED CONTESTS
Mortgagor is not required to: (1) pay any tax, assessment or other charge referred to in the article titled
"Payment of Taxes, Assessments and Other Charges;" (2) pay any charge referred to in the article titled
"Payment of Utility Charges;" (3) discharge or remove any lien, encumbrance or charge referred to in the
article titled "Liens;" or (4) comply with any statute, law, rule, regulation or ordinance referred to in the
article titled "Compliance with Permitted Encumbrances and Laws;" on the condition that Mortgagor:
A. Contests, in good faith, the existence, amount or validity of, the amount of damages caused by, or
the extent of Mortgagor's liability for, these taxes, assessments, liens, encumbrances or charges, by
appropriate proceedings operating during their pendency to prevent:
The collection of or other realization upon the tax, assessment, lien, encumbrance
or charge contested;
2. The sale, forfeiture or loss of all or any part of the Property; and
Any interference with the use or occupancy of all or any part of the Property; and
B. Gives any security to Lender that Lender reasonably demands to ensure compliance with the above
promises if Mortgagor loses the contest.
Mortgagor shall give prompt written notice to Lender of the commencement, status and resolution of any
contest referred to in this Article.
XII. INSURANCE
A. Risks to be Insured. Mortgagor shall maintain or cause to be maintained insurance of the
following character:
Insurance on the buildings, structures and other improvements now existing or
later erected on the Land and on the fixtures and personal property included in the
Property against loss by fire and other hazards covered by the "all-risk" form of
policy, in an amount equal to the actual replacement cost of the buildings,
improvements, fixtures and personal property without deduction for physical
depreciation. Mortgagor shall always maintain this insurance in at least an amount
equal to the unpaid Indebtedness outstanding at any given time. Mortgagor shall,
at Mortgagor's sole cost and expense, from time to time, at the request of Lender
provide Lender with evidence satisfactory to Lender of the replacement cost of the
Property. While any building or other improvement is being constructed or rebuilt
on the Land, Mortgagor shall provide the hazard insurance in a builder's risk
completed value form, including coverage available on the "all-risk" non -reporting
form of policy for an amount equal to one hundred percent (100%) of the insurable
replacement value of the building or other improvement.
2. If the Property includes steam boilers or other equipment for the generation or
transmission of steam, insurance against loss or damage by explosion, rupture or
bursting of steam boilers, pipes, turbines, engines, and other pressure vessels and
equipment, in an amount satisfactory to Lender.
If all or any part of the Land is located in a designated official flood -hazardous
area, flood insurance insuring the buildings and improvements now existing or
later erected on the Land in an amount equal to the greater of (a) the principal
balance of the Note, or (b) the maximum limit of coverage available for buildings
and improvements under the Flood Disaster Protection Act of 1973, as amended
(United States Code, Title 42, Sections 4001 et sec ), and the regulations issued
under this act.
Comprehensive general liability insurance for the benefit of Mortgagor and
Lender, naming Lender as an additional insured, protecting against claims arising
from any accident or occurrence in or upon the Property, including any sidewalks,
streets, walkways and driveways adjacent to the Property, in an amount acceptable
to Lender.
While any building or improvement is in the course of being constructed,
renovated or rebuilt on the Land, worker's compensation insurance as required by
statute.
Use and occupancy insurance for loss of income and business interruptions,
naming Lender as an additional insured, covering occurrences of any hazard
insured against under the fire and extended coverage policy covering the Property
in an amount acceptable to Lender.
B. Policy Provisions. All insurance policies and renewals required to be maintained under this Article
shall:
Be written by insurance carriers reasonably satisfactory to Lender;
2. Contain a waiver of defense based on co-insurance;
Except for the comprehensive general liability insurance and worker's
compensation insurance, contain a standard mortgagee clause in favor of and in a
form acceptable to Lender;
Except for worker's compensation insurance, be constantly assigned and pledged
to and held by Lender as additional security;
Contain an agreement of the insurer that it will not cancel or modify the policy
except after thirty (30) days' prior written notice to Lender; and
Be reasonably satisfactory to Lender in all other respects.
C. Delivery of Policies. Mortgagor shall deliver to Lender copies of policies satisfactory to Lender
or certificates satisfactory to Lender showing the insurance required under this Article. Mortgagor
shall promptly furnish to Lender copies of all renewal notices and all receipts of paid premiums
received by Mortgagor. At least thirty (30) days prior to the expiration date of a required policy,
M
Mortgagor shall deliver to Lender a copy of a renewal policy in form satisfactory to Lender. If
Mortgagor has a blanket insurance policy in force providing coverage for several properties of
Mortgagor, including the Property, Lender shall accept a certificate of this insurance together with
a copy of the blanket insurance policy, provided:
The certificate sets forth the amounts of insurance and coverage;
2. These amounts are at least equal to the amounts required above; and
The original policy of insurance:
a) Is written by a carrier that carries insurance acceptable to Lender,
b) Insures against the risks set forth above,
c) Cannot be amended, modified or canceled without thirty (30) days' prior written
notice to any mortgagee of Mortgagor,
d) Is in an amount not less than the unpaid principal balance secured by this
Mortgage, and
e) Has a full replacement cost endorsement meeting the requirements of this Article.
D. Assignment of Policy. If the Property is sold at a foreclosure sale or if Lender otherwise acquires
title to the Property, Lender (or the purchaser at the foreclosure sale) has all the right, title and
interest of Mortgagor in and to any insurance policies assigned to it under this Article, their
unearned premiums, and the proceeds resulting from any damage to the Property prior to the sale
or acquisition.
E. Notice of Damage or Destruction; Adjusting Loss. If all or any part of the Property is damaged
or destroyed by fire or other casualty, Mortgagor shall promptly give written notice of the damage
or destruction to the insurance carrier and Lender. Mortgagor shall not adjust any damage or loss
that is estimated by Lender in good faith to exceed $50,000.00 unless Lender joins in the
adjustment. If there has been no adjustment of any damage or loss within four (4) months from the
date of occurrence and if an Event of Default exists at the end of this four month period or at any
later time, Lender may alone make proof of loss, adjust and compromise any claim under the
policies, and appear and prosecute any action arising from the policies. In connection with these
rights, Mortgagor hereby irrevocably authorizes, empowers and appoints Lender as attorney -in -fact
for Mortgagor (which appointment is coupled with an interest) to do any of the foregoing in the
name and on behalf of Mortgagor.
F. Application of Insurance Proceeds. The insurance carrier shall pay all sums under any insurance
policy required in this Article to Lender. At Lender's option, whether or not Lender's security is
impaired, Lender shall apply these sums (after first deducting from these sums Lender's expenses
reasonably incurred in collecting them, including but not limited to reasonable attorneys' fees and
costs) to reduce the Indebtedness or to pay to restore, repair, replace or rebuild the damaged or
destroyed Property, in the manner Lender determines. Notwithstanding the foregoing, if, prior to
this application, Mortgagor presents evidence satisfactory to Lender in Lender's reasonable
discretion that the restoration, repair, replacement or rebuilding can be completed without undue
delay; that the sums received are sufficient to pay all expenses incurred for the restoration, repair,
replacement or rebuilding; and that the Property is and will not be subject to any mechanic's or
materialmen's liens; then Lender shall release these sums to Mortgagor in connection with the
restoration, repair, replacement or rebuilding. Nothing in the preceding sentence, however, limits
the right of Lender to apply these sums according to this paragraph at any time prior to the
presentation of this evidence, whether or not Mortgagor is willing or able to complete the
restoration, repair, replacement or rebuilding. Any application of insurance proceeds does not
extend or postpone the due dates of the monthly payments due under the Note or change the amount
of these payments.
G. Reimbursement of Lender's Expenses. Mortgagor shall promptly reimburse Lender upon
demand for all Lender's expenses reasonably incurred in collecting the insurance proceeds,
including but not limited to reasonable attorneys' fees and costs. All these expenses, together with
interest from the date of disbursement at the rates stated in the Note, are additional amounts secured
by this Mortgage. If collection of interest from Mortgagor at the rate stated in the Note is contrary
to applicable law, these amounts bear interest at the highest rate which may be collected from
Mortgagor under applicable law.
XIII. PRESERVATION AND MAINTENANCE OF PROPERTY
Mortgagor shall:
A. Keep the Property, including the buildings and other improvements, and the equipment, trade
fixtures, furnishings, furniture and other personal property, now or later erected or located on the
Land, in safe and good repair and condition, except for ordinary wear, tear and depreciation;
B. If all or any part of the Property is damaged or destroyed by fire or other casualty, restore, repair,
replace or rebuild the damaged or destroyed Property to the condition it was in immediately prior
to the damage or destruction, whether or not any insurance proceeds are available or sufficient for
this purpose;
C. Not commit waste or permit impairment or deterioration of the Property;
D. Not remove or permit removal from the Land of any of the fixtures and personal property included
in the Property unless:
Mortgagor immediately replaces them with property of at least equal value and
utility; and
2. This Mortgage is a valid first lien on the fixtures and personal property.
XIV. PROTECTION OF LENDER'S SECURITY
A. Right of Lender to Perform. Subject to the rights of Mortgagor under the article titled "Permitted
Contests," if Mortgagor fails to perform any of the covenants and agreements contained in this
Mortgage or if any action or proceeding is commenced which affects the Property, the interest of
Lender in the Property, or the title to the Property, then Lender, at Lender's option, may perform
these covenants and agreements, defend against and investigate the action or proceeding, and take
any other action necessary to protect Lender's interest. The legality, validity and priority of any
claim, lien, encumbrance, tax, assessment, charge or premium paid by Lender and the amount
necessary to be paid for their satisfaction shall be determined by Lender in its reasonable discretion.
Mortgagor hereby gives to Lender an irrevocable power of attorney (which power is coupled with
an interest) to enter the Property as Mortgagor's agent in Mortgagor's name to perform any
covenants and agreements Mortgagor is to perform under this Mortgage.
B. Repayment by Mortgagor. Unless Mortgagor and Lender agree in writing to other terns of
repayment, the amounts described in this Article are immediately due and payable, and bear interest
from the date of disbursement at the annual rate stated in the Note, unless collection from
Mortgagor of interest at that rate is contrary to applicable law. In that case these amounts bear
interest at the highest rate which Lender may collect from Mortgagor under applicable law.
C. General Provisions. Lender is, at Lender's option, subrogated to the lien of any mortgage or other
lien discharged in whole or in part by the Indebtedness or by Lender under the provisions of this
Mortgage. Any of these subrogation rights are additional and cumulative security for this
Mortgage. Nothing contained in this Article requires Lender to incur any expense or do any act
under this Mortgage. Lender is not liable to Mortgagor for any damages or claims arising out of
action Lender takes under this Article, except for damages or claims arising from Lender's gross
negligence or willful misconduct.
XV. INSPECTION
Lender or Lender's agents may at all reasonable times enter the Property:
A. To inspect all or any part of the Property;
B. To perform any covenants, conditions or terms which Mortgagor has failed to perform, meet or
comply with; or
C. For any other purpose concerning the protection or preservation of Lender's security.
Lender does not become liable to Mortgagor or any person in possession under Mortgagor by entering the
Property, except for damages or claims arising from Lender's negligence or willful misconduct. Lender,
however, has no duty to inspect the Property.
XVI. CONDEMNATION
A. Award Assigned to Lender. Mortgagor hereby irrevocably assigns to Lender any award or
payment payable to Mortgagor because of a taking or acquisition of all or any part of the Property,
whether directly or indirectly, or temporarily or permanently, in or by condemnation or other
eminent domain proceedings (a "Taking"). Immediately upon Mortgagor receiving a notice that
any proceeding or negotiations for a Taking have been instituted, Mortgagor shall give notice of
the proceeding or negotiations to Lender. Lender may appear in these proceedings, participate in
any negotiations, and be represented by counsel. Mortgagor, notwithstanding that Lender is not a
party to the proceeding, shall promptly give to Lender copies of all notices, pleadings, judgments,
determinations and other papers Mortgagor receives in the proceeding. Mortgagor shall not permit
or consent to the Taking of all or any part of the Property, or convey the Property in lieu of
condemnation, or enter into an agreement for the foregoing, unless Lender shall first consent to the
Taking in writing. Mortgagor and Lender shall adjust all Taking awards. All awards payable as a
result of a Taking are to be paid to Lender. Lender may, at Lender's option, apply the awards, after
first deducting Lender's expenses reasonably incurred in collecting them, to pay the Indebtedness,
whether or not due and in the order of application Lender detennines, or to repair or restore the
Property, in the manner that Lender determines. Any application of Taking awards to principal of
0
the Note does not extend or postpone the due dates of any installments payable under the Note or
change the amount of the payments.
B. Removal of Building; Lender's Expenses. If the Taking involves a taking of any building or
other improvement now or later located on the Land, Mortgagor shall proceed with reasonable
diligence to demolish and remove any ruins and complete repair or restoration of the Property as
nearly as possible to its respective size, type and character immediately prior to the Taking, if
condemnation awards are made available to complete this repair or restoration, unless Lender has
applied the entire condemnation award to pay the Indebtedness. Mortgagor shall promptly
reimburse Lender upon demand for all Lender's expenses (including reasonable attorneys' fees and
costs) reasonably incurred in collecting or disbursing awards according to this paragraph. All these
expenses, together with interest from the date of disbursement at the rate stated in the Note are
additional indebtedness secured by this Mortgage. If collection of interest from Mortgagor at the
rate stated in the Note is contrary to law, these amounts bear interest at the highest rate which
Lender may collect from Mortgagor under law.
XVII. HAZARDOUS MATERIALS
A. Representations and Warranties. Mortgagor covenants, represents and warrants to Lender and
Lender's successors and assigns that:
Mortgagor has not used or permitted and will not use or permit the Property to be
used, whether directly or through contractors, agents or tenants, and to the best of
Mortgagor's knowledge and except as disclosed to Lender in writing, the Property
has not at any time been used, for the generating, transporting, treating, storage,
manufacture, emission or disposal of any dangerous, toxic or hazardous materials,
pollutants, chemicals, wastes or substances as defined in the Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as amended by
the Superfund Amendments and Reauthorization Act of 1986 (United States Code,
Title 42, Sections 9601 et sec..), the Resource Conservation and Recovery Act of
1976, as amended (United States Code, Title 42, Sections 6901 et sec..), the Toxic
Substances Control Act, as amended (United States Code, Title 15, Sections 2601
et sec ..), the Environmental Response and Liability Act (Minnesota Statutes,
Chapter 11513), or any other federal, state or local environmental laws, statutes,
regulations, requirements and ordinances ("Hazardous Materials");
There have been no investigations and reports involving Mortgagor or, to the
knowledge of Mortgagor, the Property by any governmental authority which in
any way pertain to Hazardous Materials;
The operation of the Property by Mortgagor has not violated and is not currently
violating any federal, state or local law, regulation, ordinance or requirement
governing Hazardous Materials;
4. The Property is not listed in the United States Environmental Protection Agency's
National Priorities List of Hazardous Waste Sites nor any other list, schedule, log,
inventory or record of Hazardous Materials or hazardous waste sites, whether
maintained by the United States government or any state or local agencies; and
H
The Property does not contain any formaldehyde, urea or asbestos, except as has
been disclosed in writing to Lender by Mortgagor when this Mortgage is executed
and delivered.
B. Indemnification. Mortgagor shall indemnify and reimburse Lender, and Lender's successors and
assigns, for any breach of these representations and warranties and from any loss, damage, expense
or cost arising out of or incurred by Lender caused by a breach of, misstatement in or
misrepresentation of the above covenants, representations and warranties, together with all
reasonable attorneys' fees and costs incurred in the defense of any action against Lender arising
out of the foregoing. These covenants, representations and warranties are continuing covenants,
representations and warranties for the benefit of Lender and any successor or assign of Lender,
including any purchaser at a mortgage foreclosure sale, any transferee of the title of Lender, or any
subsequent purchaser at a foreclosure sale, and any subsequent owner of the Property. These
covenants, representations and warranties survive any foreclosure of this Mortgage and any
acquisition of title by Lender or anyone claiming the title of Lender through or under this Mortgage.
The amount of all indemnified loss, damage, expense or cost, bears interest at the rate of interest in
effect on the Note, as additional Indebtedness, and is immediately due and payable in full on
demand of Lender or Lender's successors and assigns.
C. Environmental Tests. When an Event of Default occurs or if Lender has received information
which leads Lender, in Lender's reasonable discretion, to believe that a Hazardous Material is
present on or is being handled, stored, transported, manufactured, released, or disposed of in, on or
about the Property, Lender may, at Lender's option, through its employees, agents or independent
contractors, enter the Property and obtain, at Mortgagor's expense, environmental tests (including
core drilling), studies, investigations and reports from a reputable environmental consultant chosen
by Lender. If any environmental report indicates any presence, handling, storage, transportation,
manufacture, release or disposal of Hazardous Materials in, on or about the Property, Lender may
require Mortgagor, at Mortgagor's expense, to refrain from and take remedial action on the
presence, handling, storage, transportation, manufacture, release or disposal of Hazardous
Materials to the reasonable satisfaction of Lender.
XVIII. TRANSFER OR FURTHER ENCUMBRANCE OF PROPERTY
A. No Transfer. Except for the Permitted Encumbrances or as otherwise provided herein, Mortgagor
shall not sell, convey, transfer or encumber any interest in all or any part of the Property (or permit
any sale, conveyance, transfer or encumbrance to occur or to remain) without the prior written
consent of Lender. This provision applies to each future sale, conveyance, transfer and
encumbrance, whether voluntary or involuntary, and whether or not Lender has consented to any
prior sale, conveyance, transfer or encumbrance.
B. Acknowledgment. Mortgagor acknowledges that any additional secondary financing placed upon
the Property:
May divert funds that would otherwise be used to pay the Indebtedness;
2. Could result in acceleration and foreclosure by a junior encumbrancer that would
force Lender to take measures and incur expenses to protect Lender's security; and
Would impair Lender's ability to accept a deed in lieu of foreclosure from
Mortgagor because Lender may need to foreclose to clear the title to the Property.
XIX. SECURITY INTEREST
A. Security Agreement. This Mortgage is a security agreement as defined in the Uniform
Commercial Code -- Secured Transactions (Minnesota Statutes, Chapter 336, Part 9). Mortgagor
hereby grants Lender a security interest in all personal property and fixtures included in the
Property as more specifically described in the article titled "Grant of Mortgage," including any
replacements, renewals, substitutions, products or proceeds of or for these fixtures and personal
property. Mortgagor shall, from time to time, at the request of Lender, execute any financing
statements covering the personal property and fixtures (in a form satisfactory to Lender) as Lender
reasonably considers necessary or appropriate to perfect Lender's security interest. Mortgagor shall
pay to Lender on demand, the amount of any costs and expenses (including reasonable attorneys'
fees and legal expenses) Lender pays or incurs in exercising any right or remedy referred to in this
Article.
B. Substitutions. Where Mortgagor in Mortgagor's sound discretion determines that any item subject
to a security interest under this Mortgage is inadequate, obsolete, worn out, unsuitable, undesirable
or unnecessary to operate the Property, Mortgagor may, at Mortgagor's expense, remove and
dispose of it and substitute and install other items not necessarily having the same function. This
removal and substitution shall not, however, impair the operating utility and unity of the Property.
All substituted items are part of the Property and subject to the lien of this Mortgage.
C. Financing Statement. From the date of its recording, this Mortgage is effective as a financing
statement filed as a fixture filing for all goods which are part of the Property (as more particularly
described in the article titled "Grant of Mortgage") which are or are to become fixtures related to
the real estate described in this Mortgage. For this purpose, the following information is set forth:
The name and address of the debtor:
Schaefco Development, LLC
PO Box 219
Victoria, MN 55386
The name and address of the secured party:
Kenneth and Barbara Ashfeld
6480 Yosemite Ave
Excelsior, MN 55331
This Mortgage covers goods which are, or are to become, fixtures on the Land.
4. The name of the record owner of the Land is:
Schaefco Development, LLC
PO Box 219
Victoria, MN 55386
Products and proceeds of the collateral are also covered.
D. Assignment of Leases and Rents. The Mortgagor does hereby sell, assign and transfer unto the
Lender (i) the immediate and continuing right to receive and collect all rents, income, issues and
profits now due and which may hereafter become due under or by virtue of any lease or agreement
12
(oral or written) for the leasing, subleasing, use or occupancy of all or any part of the Property now,
heretofore or hereafter made or agreed to by the Mortgagor, and (ii) all of such leases and
agreements, together with all guarantees therefor and any renewals or extensions thereof, for the
purpose of securing payment of the indebtedness of the Mortgagor under the Note and the
documents related thereto.
The Mortgagor does hereby irrevocably appoint the Lender its true and lawful attorney in its name,
place and stead, with or without taking possession of the Property, to rent, lease, sublease, let, sublet
or permit occupancy of all or any portion of the Property to any party or parties at such rental and
upon such terms, as it in its discretion may determine, and to collect all of said avails, rents, income,
issues and profits arising from or accruing at any time hereafter under each and all of such leases
and agreements, with the same rights and powers and subject to the same immunities, exoneration
of liability and rights of recourse and indemnity as the Lender would have upon taking possession
of the Property.
The Mortgagor represents and agrees that no rent has been or will be paid in advance by any persons
in possession of all or any portion of the Property for a period of more than one month and that the
payment of none of the rents to accrue for all or any portion of the Property has or will be waived,
released, reduced or discounted, or otherwise discharged or compromised, by the Mortgagor. The
Mortgagor waives any right of setoff against any person in possession of all or any portion of the
Property. The Mortgagor represents that it has not assigned any of said rents or profits to any third
party and agrees that it will not so assign any of said rents or profits without the prior written
consent of the Lender.
Nothing contained herein shall be construed as constituting the Lender "a mortgagee in possession"
in the absence of the taking of actual possession of the Property by the Lender. In the exercise of
the powers herein granted to the Lender, no liability shall be asserted or enforced against the
Lender, all such liability being expressly waived and released by the Mortgagor, except to the extent
such liability arises due to the negligence or willful misconduct of Lender.
The Mortgagor further agrees to assign and transfer to the Lender all rents from future leases or
subleases upon all or any part of the Property and to execute and deliver, immediately upon request
of the Lender, as such further assurances and assignments in the Property as the Lender from time
to time shall require.
Although it is the intention of the parties that this assignment of leases and rents shall be a present
assignment, it is expressly understood and agreed that, anything herein contained to the contrary
notwithstanding, the Lender shall not exercise any of the rights and powers conferred upon it herein
unless and until an Event of Default shall occur and nothing herein contained shall be deemed to
affect or impair any rights which the Lender may have under the Note, this Mortgage or any other
Loan Documents, including the Letter Agreement.
The Mortgagor acknowledges and agrees that this assignment of leases and rents, and the Lender's
rights and remedies hereunder, may be enforced by the Lender throughout the entire redemption
period provided by applicable law following any foreclosure sale of all or any portion of the
Property.
At any time after the occurrence of an Event of Default, the Lender, without in any way waiving
such default, may:
13
at the Lender's option without notice to the Mortgagor and without regard to the adequacy
of the security for the Note, either in person or by agent, with or without any action or
proceeding, or by a receiver appointed by a court of competent jurisdiction pursuant to
Minnesota Statutes, Section 559.17, Subd. 2, and Section 576.25, peaceably take
possession of the Property and have, hold, manage, lease, sublease and operate the same as
a mortgagee in possession; or
II. without taking possession of the Property, sue for or otherwise collect and receive all rents,
income and profits from the Property to which the Mortgagor would otherwise be entitled,
including those past due and unpaid with full power to make from time to time all
adjustments thereto, as may seem proper to the Lender.
The Lender shall not be obligated to perform or discharge, nor does it hereby undertake to perform
or discharge, any obligation, duty or liability under any leases, sublease or rental agreements
relating to the Property, and the Mortgagor shall and does hereby agree to indemnify and hold the
Lender harmless from and against any and all liability, loss or damage which it may or might incur
under any such lease, sublease or agreement or under or by reason of the assignment of the rents
thereof and from and against any and all claims and demands whatsoever which may be asserted
against it by reason of any alleged obligations or undertakings on its part to perform or discharge
any of the terms, covenants or agreements contained in any of such leases, provided that the
Mortgagor shall not indemnify and hold harmless the Lender from any liability loss or damage
resulting from acts or omissions of the Lender which first occur on or after the date the Lender
takes possession of the Property. Should the Lender incur any liability, loss or damage by reason
of this assignment of leases and rents, or in the defense of any claim or demand, the Mortgagor
agrees to reimburse the Lender for the amount thereof, including costs, expenses and reasonable
attorneys' fees, immediately upon demand.
The Lender, or such agent or receiver, in the exercise of the rights and powers conferred upon it by
this assignment of leases and rents shall have the full power to use and apply the avails, rents,
issues, income and profits of the Property to which the Mortgagor would otherwise be entitled to
the payment of or on account of the following in the order listed below or in the order determined
by the receiver to preserve the value of the Property:
I. Reasonable receiver's fees;
II. Application of tenant security deposits as required by Minnesota Statutes, Section
504B.178;
III. Payment, when due, of prior or current real estate taxes or special assessments with respect
to the Property, or the periodic escrow for the payment of the taxes or special assessments;
IV. Payment, when due, of premiums for insurance of the type required by this Mortgage, or
the periodic escrow for the payment of the premiums; and
V. All expenses for normal maintenance of the Property;
provided, however, that nothing herein shall prohibit the right to reinstate pursuant to Minnesota
Statutes, Section 580.30, or the right to redeem granted pursuant to Minnesota Statutes, Sections
580.23 and 581.10.
14
Any excess cash remaining after paying the expenses listed in clauses 1. through V. above shall be
applied to the payment of the Note and shall be deemed to be credited to the amount required to be
paid to effect a reinstatement or redemption or, if the period of redemption ends without
redemption, such remaining amounts shall be paid to the purchaser at the foreclosure sale, its
successors or assigns.
The Mortgagor does further specifically authorize and instruct each and every present and future
lessee, sublessee, tenant or subtenant of the whole or any part of the Property to pay all unpaid
rental agreed upon in any lease or sublease to the Lender upon receipt of demand from the Lender
so to pay the same.
Any tenants, subtenants or other occupants of all or any part of the Property are hereby authorized
to recognize the claims of the Lender hereunder without investigating the reason for any action
taken by the Lender, or the validity or the amount of indebtedness owing to the Lender, or the
occurrence or existence of any Event of Default, or the application to be made by the Lender of any
amounts to be paid to the Lender. The sole signature of any officer or attorney of the Lender shall
be sufficient for the exercise of any rights under this assignment of leases and rents and the sole
receipt of the Lender for any sums received by such tenants, subtenants or other occupants shall be
a full discharge and release therefor. Checks for all or any part of the rentals collected under this
assignment of leases and rents shall be drawn to the exclusive order of the Lender.
XX. EVENTS OF DEFAULT
Each of the following occurrences is an Event of Default under this Mortgage (an "Event of Default"):
A. Mortgagor fails to pay within ten (10) days of when due any payment of principal and interest,
payable under the Note.
B. Mortgagor defaults in the performance of or breaches its agreement contained in the article titled
"Transfer or Further Encumbrances of Property."
C. Mortgagor fails to pay when and as due any taxes, assessments or other charges required to be paid
by the article titled "Payment of Taxes, Assessments and Other Charges" except as otherwise
provided therein or fails to provide the insurance coverage required by the article titled "Insurance."
D. Mortgagor fails to perform or observe any of the covenants or agreements contained in this
Mortgage (other than a covenant or agreement which is specifically dealt with elsewhere in this
Article) and this failure continues for thirty (30) days after notice of the failure from Lender to
Mortgagor.
E. All or any part of the Property is sold, conveyed, transferred or encumbered; full possessory rights
in the Property are transferred; or the controlling interest in Mortgagor is sold, conveyed,
transferred or encumbered; whether voluntarily, involuntarily, or by operation of law. This
provision applies to each sale, transfer, conveyance or encumbrance regardless of whether or not
Lender has consented or waived Lender's rights, whether by action or by omission, on any previous
sale, transfer, conveyance or encumbrance.
F. An event of default, however defined, occurs under the Note, or any other mortgage, assignment,
or other security document which is a lien on all or any part of the Property.
15
XXL ACCELERATION; FORECLOSURE
When an Event of Default occurs, Lender may, at Lender's option, exercise one or more of the following
rights and remedies (and any other rights and remedies available to Lender):
A. Lender may, by written notice to Mortgagor, declare immediately due and payable all unmatured
Indebtedness, and the Indebtedness is then immediately due and payable, without further notice or
demand.
B. Lender has and may exercise on all personal property and fixtures which are part of the Property
all the rights and remedies given upon default to a secured party under the Uniform Commercial
Code in effect in the State of Minnesota (Minnesota Statutes, Chapter 336). If notice to Mortgagor
of the intended disposition of any property is required by law in a particular instance, the notice is
commercially reasonable if given to Mortgagor (in the manner specified in the article titled
"Notices") at least ten (10) calendar days prior to the date of intended disposition. Mortgagor shall
pay on demand all costs and expenses incurred by Lender in exercising these rights and remedies,
including but not limited to reasonable attorneys' fees and legal expenses.
C. Lender may (and is authorized and empowered to) foreclose this Mortgage by action or
advertisement, under the statutes of the State of Minnesota. Mortgagor expressly grants to Lender
the power to:
Sell the Property at public auction and convey the Property to the purchaser in fee
simple; and
2. With the proceeds arising from this sale, pay all Indebtedness, with interest, all
legal costs and charges of the foreclosure, and the maximum attorneys' fees
permitted by law.
Mortgagor agrees to pay these costs, charges and fees.
XXII. ESTOPPEL CERTIFICATE
Mortgagor shall, at any time and from time to time, upon not less than fifteen (15) days' prior notice by
Lender, execute, acknowledge and deliver, without charge, to Lender or to any person designated by
Lender, a statement in writing:
A. Certifying that:
This Mortgage is unmodified (or if there have been modifications, identifying the
modifications by their date and specifying their nature);
Mortgagor has not received any notice of default or notice of acceleration or
foreclosure of this Mortgage (or if Mortgagor has received a notice, that it has been
revoked, if that is the case);
To the knowledge of Mortgagor, no Event of Default exists under this Mortgage
(or if any Event of Default exists, specifying the Event of Default and stating that
it has been cured, if that is the case); and
Mortgagor has no claims or offsets against Lender (or if Mortgagor has any claim,
specifying it); and
a
B. Setting forth:
I . The principal amount then secured by this Mortgage and the unpaid balance of the
Note;
2. The dates to which interest and the other sums and charges payable by Mortgagor
under the Note have been paid; and
3. Any other information reasonably required by Lender.
XXIIL FORBEARANCE NOT A WAIVER; RIGHTS AND REMEDIES CUMULATIVE
No delay by Lender in exercising any right or remedy provided in this Mortgage or otherwise afforded by
law or equity is a waiver of or precludes the exercise of the right or remedy. No waiver by Lender of any
particular provision of this Mortgage is effective unless in a writing signed by Lender. All the rights and
remedies in this Mortgage or which Lender or the holder of the Note may otherwise have, at law or in
equity, are distinct, separate and cumulative and may be exercised concurrently, independently or
successively in any order whatsoever, and as often as needed. A Taking action under the article titled
"Condemnation" or receiving proceeds, awards or damages under the articles titled "Insurance" or
"Condemnation" do not impair any right or remedy available to Lender under the article titled
"Acceleration; Foreclosure." Lender may, at the option of Lender, rescind by written acknowledgment to
that effect, acceleration and maturity of the Note, when claimed under this Mortgage. The tender and
acceptance of partial payments on the Note does not in any way affect or rescind the acceleration of maturity
of the Note, provided that acceleration is subject to Mortgagor's right of reinstatement as provided in
Minnesota Statutes, Section 580.30.
XXIV. WAIVER OF MARSHALLING
Mortgagor, any party who consents to this Mortgage, and any party who now or later acquires a lien on the
Property and who has actual or constructive notice of this Mortgage, hereby waive any right to require the
marshalling of assets in connection with the exercise of any remedy permitted by applicable law or provided
in this Mortgage.
XXV. FURTHER ASSURANCES
From time to time until the Indebtedness is paid in full Mortgagor shall, at the request of Lender, promptly
execute and deliver to Lender any additional instruments reasonably required to evidence the lien of this
Mortgage and further protect the security interest of Lender on the Property, including but not limited to
additional security agreements, financing statements and continuation statements. Any expenses incurred
by Lender in preparing and recording any of these instruments, including but not limited to reasonable
attorneys' fees, are additional Indebtedness of Mortgagor secured by this Mortgage. Unless Mortgagor and
Lender agree in writing to other terms of repayment, these amounts are immediately due and payable, and
bear interest from the date of disbursement at the annual rate stated in the Note. If collection of interest
from Mortgagor at the annual rate stated in the Note is contrary to applicable law, these amounts bear
interest at the highest rate which may be collected from Mortgagor under applicable law.
XXVI. WAIVER OF CONSTITUTIONAL RIGHTS
Mortgagor understands and agrees that:
17
A. If an Event of Default occurs, Lender has the right, among other things, to foreclose this Mortgage
by advertisement pursuant to Minnesota Statutes, Chapter 580, as now in effect or later amended,
or pursuant to any later enacted similar or replacement statute.
B. If Lender elects to foreclose by advertisement, Lender may cause all or any part of the Property to
be sold at public auction.
C. Lender must publish notice of this sale and give personal notice to the persons in possession of the
Property as provided by statute.
D. Mortgagor will have the period provided by Minnesota Statutes, Section 580.23, or any amendment
to this statute, or any later enacted similar or replacement statute, to redeem the property so sold by
paying the sale price, any taxes, assessments and insurance premiums paid by the purchaser at the
sale, and other sums permitted by law, together with interest from the date of sale or payment at
the highest rate permitted by law.
E. If an Event of Default occurs, Lender may take possession of the fixtures and personal property
which is subject to the security interest granted in this Mortgage and dispose of the fixtures and
personal property by sale or otherwise in one or more parcels; provided that at least ten (10) days'
prior notice of the disposition is given to Mortgagor, all as provided for by the Minnesota Uniform
Commercial Code, now in effect or later amended, or by any later enacted similar or replacement
statute.
F. Under the Constitution of the United States of America, Mortgagor may have the right to notice
and hearing before the property may be sold.
G. The procedure for foreclosure by advertisement described above does not insure that notice will be
given to Mortgagor.
H. Neither the procedure for foreclosure by advertisement nor the Minnesota Uniform Commercial
Code requires any hearing or other judicial proceeding.
MORTGAGOR HEREBY RELINQUISHES, WAIVES AND GIVES UP ANY RIGHTS TO NOTICE AND HEARING
BEFORE SALE OF THE PROPERTY AND EXPRESSLY CONSENTS AND AGREES THAT THE PROPERTY MAY BE
FORECLOSED BY ADVERTISEMENT AND THAT THE PORTION OF THE PROPERTY WHICH IS SUBJECT TO THE
SECURITY INTEREST GRANTED IN THIS MORTGAGE MAY BE DISPOSED OF UNDER THE UNIFORM
COMMERCIAL CODE, ALL AS DESCRIBED ABOVE.
MORTGAGOR WARRANTS AND REPRESENTS THAT MORTGAGOR IS REPRESENTED BY LEGAL COUNSEL,
THAT BEFORE SIGNING THIS DOCUMENT THIS ARTICLE AND MORTGAGOR'S CONSTITUTIONAL RIGHTS
WERE FULLY EXPLAINED BY MORTGAGOR'S COUNSEL, AND THAT MORTGAGOR UNDERSTANDS THE
NATURE AND EXTENT OF THE RIGHTS WAIVED BY THIS ARTICLE AND THE EFFECT OF THE WAIVER.
XXVII. AMOUNT SECURED; PARTIAL RELEASE
A. Amount Secured. The maximum principal amount of Indebtedness secured by this Mortgage at
any one time, excluding advances made by Lender in protection of the Property or the lien of this
Mortgage, is Two Hundred Twenty -Five Thousand Dollars ($225,000.00).
B. Partial Release. Notwithstanding any other provision of this Mortgage, and provided Mortgagor
is not otherwise in default hereunder, Lender shall, upon Mortgagor's written request pursuant to
18
the Letter Agreement, release individually platted lots which are a portion of the Land, from the
lien of this Mortgage for a principal payment of the Note in the amount of One Hundred Twelve
Thousand Five Hundred and No/100 Dollars ($1 12,500.00), along with any outstanding accrued
interest on the Promissory Note.
XXVIII. NOTICES
Any notice from Lender to Mortgagor under this Mortgage is considered to have been given by Lender and
received by Mortgagor if mailed by first-class or certified mail by Lender to Mortgagor at the following
address or at any other address Mortgagor designates in writing to Lender:
Schaefco Development, LLC
PO Box 219
Victoria, MN 55386
XXIX. PRODUCTION OF DOCUMENTS
Mortgagor shall, while this Mortgage is in full force and effect furnish Lender with the documents,
instruments and papers Lender reasonably requests from time to time in order for Lender to effectuate a
sale or a participation in the loan evidenced by the Note and this Mortgage.
XXX. SURVIVAL OF COVENANTS
Foreclosure of this Mortgage does not affect or limit any right or remedy of Lender on account of any
breach by Mortgagor of the terms of this Mortgage occurring prior to the foreclosure sale, except to the
extent of the amount bid at the foreclosure sale.
XXXI. GOVERNING LAW; SEVERABILITY
This Mortgage is governed by the substantive laws of the State of Minnesota. If any provision or clause of
this Mortgage conflicts with applicable law, the conflict does not affect other provisions of this Mortgage
which can be given effect without the conflicting provisions. To this end, the provisions of this Mortgage
are declared to be severable.
XXXII. SUCCESSORS AND ASSIGNS BOUND; NUMBER; GENDER; AGENT; CAPTIONS;
AMENDMENTS
The covenants and agreements in this Mortgage bind, and the rights under this Mortgage are enforceable
by Lender and Mortgagor and their respective heirs, legal representatives, successors and assigns. This
Article does not limit, however, the effect of the article titled "Events of Default." Wherever used, the
singular number includes the plural, the plural the singular, and the use of any gender applies to all genders.
Captions and headings of the articles and paragraphs in this Mortgage are for convenience and reference
only and are not to be used to interpret or define the provisions of this Mortgage. No amendment of this
Mortgage is effective unless in a writing executed by Mortgagor and Lender.
XXXIII. COUNTERPARTS
Mortgagor may execute this Mortgage in any number of counterparts, each of which is an original, but all
of which together are one instrument.
[THE REMAINDER OF THIS PAGE INTENTIONALLY LEFT BLANK]
ELI
MORTGAGOR BY EXECUTING AND LENDER BY ACCEPTING THIS COMBINATION MORTGAGE,
SECURITY AGREEMENT, FIXTURE FINANCING STATEMENT AND ASSIGNMENT OF LEASES AND RENTS
AGREE TO ALL ITS TERMS.
SCHAEFCO D LO T, LLC.
By
-11 o l e}-1t U f
Its: l/ l i<(i 116eil I'm r
STATE OF MINNESOTA )
)ss.
COUNTY OFjQl K� )
The foregoing instrument was acknowledged before me this /day of August, 2021( by
2� 1?1 othlj L a l O - , the IL u )()/e,wd et) of Schaefco
Developme , LLC, a limited liability company under the laws of the State of Minnesota, on behalf of the
company.
r�
GALE E. LARSON
•:' Notary Public -Minnesota
MY C,anenwlon Bapkft JM st. 20�b
i
This Instrument Was Drafted By:
Schaefco Development, LLC
PO Box 219
Victoria, MN 55386
r
otary Public
TAX STATEMENTS FOR THE REAL PROPERTY
DESCRIBED IN THIS INSTRUMENT SHOULD BE SENT
TO:
Schaefco Development, LLC
200 Southdale Center
Edina, MN 55435
20
EXHIBIT "A"
Leal Description
Lots 1 and 2, Block 1, Deer Haven and Outlot A, Deer Haven according to the recorded plat thereof, Carver
County, Minnesota.
21
EXHIBIT "B"
Permitted Exceptions
Real estate taxes and installments of special assessments payable in 2022 and
thereafter.
Easement Agreement, as created in document dated June 27, 1994, filed August
25, 1995, as Document No. 184214.
Easement Agreement, as created in document dated June 27, 1994, filed August
25, 1995, as Document No. 184215.
4. Easements for utilities and drainage as shown on the recorded plat.
Declaration of Covenants, Conditions, Restrictions and Easements of Deer
Haven, dated August 11, 2021, filed with the Carver County Recorder.
6. Deer Haven Development Contract, dated May 10, 2021, filed with the Carver
County Recorder.
Encroachment Agreement dated July 26, 2021, filed with the Carver County
Recorder.
Declaration in favor of Minnehaha Creek Watershed District, dated August 11,
2021, filed with the Carver County Recorder.
9. Mortgage between Schaefco Development, LLC, a Minnesota limited liability
company and West Side Capital, LLC dated August 11, 2021, filed with the
Carver County Recorder.
OX