4.5. HRSR 07-05-2022
Request for Action
To Item Number
Housing and Redevelopment Authority 4.5
Agenda Section Meeting Date Prepared by
Consent July 5, 2022 Joshua Mollan, Economic Development Specialist
Item Description Reviewed by
Satisfaction of Mortgage – Gadach and Tschida Brent O’Neil, Economic Development Director
Reviewed by
Cal Portner, City Administrator
Action Requested
Approve, by motion, the Satisfaction of Mortgage for Eileen, Teresa, Gerald, Edward, Lynn, and Mary
Gadach, and Janet Tschida.
Background/Discussion
On October 1, 2018, Eileen, Teresa, Gerald, Edward, Lynn, and Mary Gadach, and Janet Tschida
received a loan from the HRA through the HRA’s Rehabilitation Loan program for $25,000 to make
improvements to the property located at 870 Vernon Ave NW.
As of June 30, 2022, the Mortgage and Repayment Agreement has been fully paid and satisfied.
Financial Impact
N/A
Mission/Policy/Goal
The goal of the HRA is to improve existing housing stock by offering incentives or programs to repair and
maintain residential properties.
Attachments
Mortgage and Repayment Agreement
Satisfaction of Mortgage
The Elk River Vision
A welcoming community with revolutionary and spirited resourcefulness, exceptional
service, and community engagement that encourages and inspires prosperity
EXEMPT FROM REGISTRATION TAX.
SHERBURNE COUNTY
AUDITOR/TREASURER
OL.e Q c't\n1A
Office of the County Recorder
Sherburne County, MN
Doc. No. 867664
Certified, filed, and or recorded on
January 24, 2019 4:00 PM
Michelle Ashe, County Recorder
By SD Deputy
Fees: $46.00
867664
I IIIII IIIII II IIIIIIIIII
Mortgage and Repayment Agreement
(Elk River HRA Owner -Occupied Housing Rehabilitation Program)
This mortgage is exempt from Mortgage Registration Tax imposed by Minnesota Statutes, §287.035,
pursuant to Minnesota Statutes, §287.04, because the principal amount of the mortgage loan referred
to herein is made under an affordable housing program and the mortgagee is the Housing and
Redevelopment Authority in and for the City of Elk River, a Minnesota body corporate and politic.
THIS MORTGAGE AND REPAYMENT AGREEMENT (this "Mortgage"), is made and entered into this
1st day October of 2018 (the "Effective Date"), by and between Eileen L. Gadach a single person as Life
Estate Holder and Teresa Gadach, a single person Gerald Gadach a single person Edward W. Gadach a
married person Lynn Gadach a single person Mary J. Gadach a single person and Janet Tschida a married
person, as joint tenants, (hereinafter referred to as "Owners") of the property located at 870 Vemon Ave.
NW, Elk River, MN 55330, and legally described as set forth in the attached Exhibit A (the "Property") and
the Housing and Redevelopment Authority in and for the City of Elk River, (the "HRA"), having its principal
office at 13065 Orono Pkwv NW, Elk River, MN 55330
NOW THEREFORE, in consideration of the Installment Loan described below and for other good and
valuable consideration, the parties do hereby agree as follows:
In accordance with the Elk River Owner -Occupied Housing Rehabilitation Policies and Procedures
(the "Procedures") and the Owner's Application dated May 31st. 2018 (the "Application"), both of
which are incorporated herein by reference as if fully set forth herein, the HRA has agreed to make
to Owner a Housing Rehabilitation Loan, (the "Installment Loan"), relating to the Property, in the
amount of Twenty -Five Thousand and 00/100 ($25 000.00) Dollars The Installment Loan shall be
disbursed directly to the contractor performing the work on the Property described in the Application
in accordance with the Procedures. The Owner agrees to repay to the HRA in the Installment Loan
plus interest thereon at the rate of 4.00% per annum in installments of principal and interest of
$253.11 per month, beginning on January 1st, 2019 through and including December
1st, 2028 (the "Final Maturity Date") in accordance with the amortization schedule and the Truth in
Lending Statement signed by Owner both attached as Exhibit B. The Owner may prepay the
Installment Loan in whole, together with accrued interest thereon, to the HRA on any business day.
If the HRA has not received the full amount of any monthly payment by the end of 10 calendar days
after the date it is due, the Owner will pay a late fee to the HRA. The late fee will be 5.000% of the
overdue principal and interest payment. The Owner will pay this late fee promptly but only once on
each late payment.
2. Owner covenants and agrees with the HRA that if the Property is transferred or otherwise conveyed,
voluntarily or involuntarily, either while the Owner is living or by reason of the death of the Owner
prior to the Final Maturity Date, the Installment Loan and all accrued interest thereon shall be
immediately due and payable and shall be repaid in'full to the HRA.
S-1
3. As security for Owner's obligation to repay the Installment Loan and accrued interest thereon, and
the cost, including reasonable attorney's fees, of collecting the same, and subject to the terms and
conditions of this Mortgage, Owner hereby grants, and HRA shall and hereby does have, a statutory
mortgage on the Property in accordance with Minnesota Statutes, Section 507.15.
4. The Owner covenants with the HRA the following statutory covenants;
a. To warrant the title to the Property; subject to permitted encumbrances as set forth in
Exhibit C.
b. To pay the indebtedness as herein provided.
c. To pay all taxes.
d. That the Property shall be kept in repair and no waste shall be committed.
e. That the whole of the principal sum shall become due after default, in the payment of any
installment of principal or interest, or of any tax, or in the performance of any other
covenant, at the option of the HRA.
f. To pay principal and interest on prior mortgages.
5. If default be made in any payment or covenant herein, the HRA shall have the statutory power of
sale, and on foreclosure may retain statutory costs and attorney's fees.
6. For the protection of the HRA, the Owner will, during all the time until the indebtedness secured by
this mortgage is fully paid, maintain all risk property insurance, naming the HRA as an additional
insured, in an amount not less than the full insurable replacement value of the Property. Said
insurance shall be written by a company or companies licensed to do business in Minnesota and
rated Class A-:VII or better by A.M. Best Company. The term "full insurable replacement value"
shall mean the actual replacement cost of the Property (excluding foundation and excavation costs
and costs of underground flues, pipes, drains, and other items customarily omitted from replacement
cost valuation for insurance purposes), without deduction for depreciation. The Owner will assign
and deliver the policies of such insurance to the HRA so and in such manner and form that the HRA
shall at all times, until the full payment of said indebtedness, have and hold the said policies as a
collateral and further security for the payment of said indebtedness, or at the option of the HRA will
make such policies payable in case of loss to the HRA as its interest may appear and will deposit
them with the HRA, and in default of so doing, that the HRA may, but has no obligation to, obtain
such insurance from year to year, or for one or more years at a time, and pay the premiums therefor,
and that the Owner will forthwith repay to the HRA the same, with interest at the mortgage rate, and
that the same shall become a part of the debt secured by this mortgage in like manner as the principal
sum. The Owner may retain any moneys received by him/her on the policies, but the same shall
apply in part payment of this mortgage.
7. This Mortgage shall terminate and shall be of no further force or effect upon payment in full of the
Installment Loan and accrued interest thereon.
8. The Owner will indemnify, save, and hold harmless the HRA, the City of Elk River, Minnesota,
Central Minnesota Housing Partnership, Inc., their officers, agents,. and employees, from and against
any claim, cause of action, damage, liability, loss or expense, including attorney's fees incurred by
the HRA, made by any party in connection with or arising from (i) the presence, if any, of hazardous
wastes or pollutants on the Property; (ii) any loss or damage to property or any injury to or death of
any person occurring at or about or resulting from any defect in the Property, (iii) the performance
of, or failure to perform, this Mortgage. Nothing herein shall be deemed a waiver of any statutory
limitations of liability or immunity.
S-2
(iii) the performance of, or failure to perform, this Mortgage. Nothing herein shall he deemed a
waiver of any statutory limitations of liability or immunity.
9. This Mortgage shall nun with the aforesaid real estate and shall inure to the benefit of and be
binding upon the parties hereto and their respective heirs, executors, representatives, successors,
and assigns.
10. Any forbearance by the HRA in exercising any right or remedy shall not be a waiver of or
preclude the exercise of any right or remedy.
11. This Mortgage shall be governed by the law of the state of Minnesota. In the event that any
provision or clause of this Mortgage conflicts with applicable law, such conflict shall not affect
other provisions of this Mortgage which can be given effect without the conflicting provision. To
this end, the provisions of this Mortgage are declared to be severable.
12. This Agreement may be executed in any number of counterparts, each of which shall constitute
one and the same instrument.
In witness whereof the Owner has duly executed this Rehabilitation Program Mortgage and Repayment
Agreement.
STATE OF MINNESOT.A)
)ss.
COUNTY OF (4n�_
The foregoing instrument was acknowledged before me this
Owners and Mortgagor:
�
,f2��1
Eileen L. Gadach LifF Estate Holder
17.
--
Teresa Gadach Joint Tennant
Gera adach Join ennant
Mary J. Ga ch Joint Tennant
Ja Tschida Jcint Tennant
of (dLrt{ �= 20_15,by
S-3
DEBORAHLSWANSOrI
Notary Publle
Mlnneeote
a.3510mlixftJam=312022
STATE OF MINNESOTA)
)ss.
COUNTY OF
Notary Public
The foregoing instrument was acknowledged before me this �kday of `1. r7j pen 6.t.�, 20J$, by
Teresa Gadach, as ioint tenant, owner and mortgagor. 'T
OESORAHLSWAWSON
Notary Public
Mlnnesote
a9iat ER iYe7lefM18 3 22022
STATE OF MINNESOTA)
)ss.
COUNTY OF 6lrZ,6_rrj.,
Notary Public
The foregoing instrument was acknowledged before me thisfQl' day of dj�t o m!2 20_15. by
Gemld <iadach, as joint tenant owner and mortgagor.
Notary Public
STATE OF MINN ESOTA )
)ss.
COUNTY OF (JYrh�-rrx)
The foregoing instrument was acknowledged before me this day of h „ 20J_5 by
Edward W. Gadach, as joint tenant, owner and mortgagor.
DE�ORAHLSNfANSON n, 1it'Tlh I _L-�-' c�
Noary Public Notary Public
Mmsaote
3i 2022
S-4
r- �.—
STATE OF MINNESOTA)
)ss.
COUNTY OF (5-r,ib,rry_L
The foregoing instrument was acknowledged before me this #,—CL--Iday of 20je, by
Lynn Gadach. as ioinl tenant owner and mortgagor.
Notary Public
STATE OF MINNESOTA)
)ss.
C(DU'J iN JF
The foregoing instrument was acknowledged before me this j day of OD, ,g -r / . 201�, by
Mary J. Gadach, as joint tenant, owner and mortgagor.
DE--------------
BORAH L SVYANSON
Notary Publk
Minnaaota
' Janu 3t, 2o22
SPATE OF MINNESOTA)
)ss.
COUNTY OF
Notary Public
The foregoing instrument was acknowledged before me this L�day ofbLpLa� 201$, by
Janet Tschida, as joint tenant, owner and mortgagor.
fq�,Olk DEBORAH L SVIANSON
Notary Pubfic �.��" �y IMW
Minnesota Notary Public
iubnE>< ' January 31, 2022
S-5
Accepted and agreed to by:
HOUSING AND REDEVELOPMENT
AUTHORITY IN AND FOR THE CITY
OF ELK RIVER r-114
STATE OF MINNESOTA)
)ss.
COUNTY OF aerb dyo-
The foregoing instrument was acknowiet�ged before me this �µ day of OV e•m 20 g by
L o ej %bit the �%1a/T and 41 f7 the
Wit' ire , spectively, of the Housing and Redevelopment Authority in an or the City
of Elk River, a body coruorate and politic organized and existing under the Constitution and laws of the
State of Minnesota, on behalf of said Authority
JENNIFER OLA GREEN
,�, NOTARYPUBLiC-MINNESOTA
My Commission Expires Jan. M.2020
THIS INSTRUMENT DRAFTED BY:
Aju
N tary Public
Housing and Redevelopment Authority for the City of Elk River
13065 Orono Pkw,v NW
Elk River, MN 55330
S-6
Exhibit A
Legal Description of Property
Real Property in Sherburne County, Minnesota, described as follows:
Lot 2, Block 1, Upland Heights, according to the recorded plat thereof, and situated in Sherburne
County, Minnesota.
r..
Exhibit B
Amortization Schedule and Truth in Lending Statement
M
Loan Amortization Schedule
Loan amount
Annual interest rate
Loan period in years
Start date of loan
Optional extra payments
Enter values
$ 25,000.00
4.000%
10
2/I/2019
Scheduled monthly payment
$ 253.11
Scheduled number of payments
120
Actual number of payments
120
Total of early payments
$ -
Total interest
$ 5,373.54
Instructions
No.
Payment Date
Beginning
Salome
Scheduled
Payment
Extra Payment
Total Payment
Principal
Interest
Ending Balance
2,112011
1
2`,00000
$
25111
$
- $
25 .I 1
3
169 7 b
_ �,
0.33
e
_.
?4.i?30.2=
3/1/2019
$
2e,830.22
$
253.11
$
- $
25311
$
!70.35
$
8277
$
24$59.38
"s
4/I/2019
$
24,65988
$
253.11
$
- $
^_53.II
$
I'091
32.20
a
24'4889n
4
5/1/2L19
$
24J88.96
$
253.11
$
- $
253-11
Tr
I" e8
;,
8I.63
$
24.317.4-
6/ 1 /2019
$
24 317.4E
$
253,11
$
S
253.1 1
$
1'2.05
$
81,06
$
34 145.42
0
7/1,12019
$
24,145, 42
253.11
$
- $
253 1 !
$
1'2.63
S
80.4E
v
2397280
8/l/2019
1
23.972.80
$
253.11
$
- $
253.11
$
173.20
$
79.01
$
2379959
8
9/ 1 /2019
$
23 799.59
$
253.1 1
$
- $
253.1 1
$
1737E
$
79.33
$
2362 5.81
9
10/1/2019
$
23,625.81
$
253.11
$
- $
253.11
$
1 '436
S
78.75
$
23.451.45
10
11/1/2019
$
23.451,45
$
253.11
$
- $
253,11
$
17444
$
78.17
$
23.27451
11
12/1/2019
$
23.2-6.51
$
25111
$
- $
253.11
$
17.5.52
$
77.59
$
2310G.90
12
1/1/2020
$
23,10099
$
253,11
$
- $
253.1
$
1'6_i1
$
7700
$
-22A24.88
13
211 /2020
$
22924.88
1
253.1 1
$
- 4
253.1 I
$
176.'0
$
76.42
$
22 748.1E
14
3/1i2020
$
22748.18
$
253.11
$
- },
;!53.11
$
17729
$
75,83
$
22,5'0.89
15
4 r I /2020
$
22570-89
T
253.11
$
- $
253.1
$
117.88
S
75 24
$
22 393.02
16
5/1/2020
$
22393.02
$
'53.11
$
- $
253.11
$
17847
$
74.64
$
22.214,55
17
6/1/2020
$
22.214.55
It
253_11
$
$
253.11
$
1-9D6
S
74.05
1
2203.5.48
18
7/1/2020
$
22.035.4E
$
253.11
$
- $
253.1 i
$
179.56
$
73.45
$
21 855.82
19
8/1/2020
$
21,865,82
$
253.11
$
- $
253.11
$
180.26
1
72.85
$
21,675.56
20
9/1/2020
$
27,675.56
S
253.11
_
253.11
$
180.86
$
72.25
$
21 494 70
21
10/1/2020
$
21,494.?0
$
253.11
$
- $
253.11
$
18146
$
71.65
$
2131324
22 -
1 1 / 1 /2020
$
21.31324
$
253.11
$
- $
253.1 1
.$
182 W
71_04
$
21 . 131 .1 7
23
12/l/2020
$
21.13L17
$
253.11
$
- $
25111
$
182.68
$
7044
$
20448.49
24
1 / 1 /2021
$
20.948.49
$
253.1 1
$
- $
23 11
$
I83 28
$
69.83
$
20765.21
25
2/1!2021
$
207652:
$
253.11
$
$
253.11
$
1,03PC
$
6922
$
20.5g131
26
3/1/2021
$
20,581.31
$
253.11
$
- $
253.11
$
1,8451
$
6860
$
20.39680
27
4/l/2021
$
20,396.80
$
253.11
$
-
253.11
$
185.12
$
67.99
$
20,2116E
'8
5/1/2021
$
20,211.68
$
253.11
$
- $
25311
$
185.'4
$
67.37
$
'L).025.94
29
6/1/2021
$
20,025.94
$
253_11
$
- $
253.11
$
18636
1
66.75
$
19.839.5E
30
7/1/2021
$
19,839.58
$
253.11
$
- $
253.11
$
18698
$
66.13
$
19.6526E
31
8/ 1 /2021
$
1 it 652d0
$
253.1 1
$
- $
253J 1
$
187.60
S
65.5I
$
19.4,5-00
32
9/ I /2021
$
19.465.00
$
253,11
$
- $
253J 1
$
188.23
$
o4.88
$
19 27627
33
10/ 1 /2021
$
19 /216 77
$
25.1 1
$
- $
253.1 1
$
188.86
$
6426
$
19.08Z91
34
11/1/2021
$
19.087,91
$
253.11
$
- $
253.11
$
189.49
$
63.63
$
18898.42
35
12/1 /2021
$
18.898.42
$
253 1 I
$
- $
253.1 i
$
190J 2
$
62 99
$
18 708.30
36
1/1/2022
$
18.708.30
$
253.11
$
- $
253.11
$
190.-5
$
62.36
x
18517.55
37
2/1/2022
$
18.517.55
$
253.11
$
- $
253-11
$
191.39
$
61.73
$
18.326.17
38
3/1/2022
$
18-326.17
$
253.11
$
- $
253.11
$
192.03
$
61.09
$
18134.74
39
4/1/2022
$
18.13414
$
253.11
$
- $
253.11
$
19267
$
60.45
$
1>941.47
40
5/1/2022
$
17941 .47
253.1 1
$
- $
253.1 1
$
193.31
$
59.80
$
I- 748 17
41
6/i/2022
$
.1774E_17
$
253.11
$
- $
253,11
$
19395
$
59.16
$
1755421
41
7/1/2022
$
1'35421
$
253.11
$
-1
253.11
$
194c0
b
58.51
$
17.359.61
8/ 112022
$
17.359.61
$
253.1 1
$
- $
253.1 1
19525
$
57.87
$
17.164.3'
14
9; 1 /2022
$
17 164.37
$
253.11
$
- $
53 1 1
$
i 95.90
$
57.21
$
16 968,
c
10/ I '2022
$
16 968.47
t
253-1 1
$
- '�
253_'J
$
I.' t
00S
.,
$
5656
$
16 71192
Beginning
Scheduled
No.
Paymnt Date
Balance
Payment
Extra Payment
Total Payment
Principal
Interest
Ending Balance
16
197. 6
15 37585
48
1, ._..
D
0 3'6.85
$ 2i3.1 1
198
16.17832
4c
199.1°
=3?3
15 979 1 4
50
t ?G i
3
1Sc7914
$
i90.85
$
53,26
$
I-5,779.29
51
4 ,__
y
�,--9.29
$
$
- S
253.1
$
200.52
$
o 2.,._
.:
15,5'8.77
52
> 1 !, 2"1
$
13 578_'7
$ _;; 1 r
$
- $
y53.1 !
201.Ib
S
>3
15,377.59
.;a
201 95
$
_.,
;
15.1'SJa
54
i 't2s
$
i51>c.,'4
„ :i3.17
$
202.53
$
S
1 197,'.
55
1.
$
14 73.2 `'.
$ 13.1
$
-
253 1-
$
203 20
$
- 49?!
$
14.77,.U1
%
14 i°:� 01
203.88
$
49.23
S
141-6, 13
57
1 11 i 2023
$
14 bo.13
$ ° �.
$
-
25 i.1
204.56
$
48,55
3
14.361 57
58
I1/1202ti
$
1 ^-.361 57
$ 2JJ.1 '.
$
205-24
$
4787
$
14,156.3-1
59
1^_,-,,:?n,23
$
1-115ti 33
$ 253.11
$
- $
253.11
$
205,93
$
-
47 r,
13 95040
60
' I i 202 b
$
! 3'150 40
$ Y9. I 1
$
- $
253 1 1
$
206.61
$
46a0
$
13 743.'9
!`
13 743.1/
$ _-� <.11
$
"5311
$
237 30
$
45-81
$
13.536.49
62
+ '2024
$
13.536.49
$ .,`,s.l
$
- $
253.11
$
207.99
$
45.12
$
13.32850
6-1
I
Cl
$ 3.I-
$
- $
1.SaI�
$
208.68
$
4443
$
Ir_7ISB2
64
5/ 1 /2:Q4
$
13.119.K
$ J.11
$
- $
253.11
$
209 38
$
.1373
$
12,910,44
65
5,1/2C)24
$
12.910,44
$ "' I
$
- $
253.11
$
210.08
$
4303
$
12,7D236
66
/ 2=�34
$
!2,700.36
"� _53.11
$
- $
253.11
$
210.78
$
42.33
$
12.489 18
67
3 1 / 1
$
12.479.58
$ _:.
$
- $
253.11
$
211 a8
$
41.6'
$
12 278.10
68
9/ 11202-1
$
I2.278.1--
$ 1':;1,
$
- $
253.1 1
$
212.19
$
40.93
$
1206591
69
10/1/12024
$
12,065.91
$ 253.11
$
- $
253.11
$
212.89
$
40.22
$
11,853,02
70
1 1 / 1 /2024
$
1 1 853.02
$ 253.1 .
$
- $
23.1 1
$
213-60
$
39.51
$
1 1,639.42
71
121]/2024
$
11,639,42
$ 253.11
$
- $
25.3.11
$
214.31
$
38.80
$
11,425.10
72
1/1/2025
$
11,425.10
$ 253_11
$
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$
215.03
$.
38-08
$
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73
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$
37.37
$
10.994.33
74
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$
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$ 253.11
$
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$
216.47
$
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$
10,77736
75
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$ 253.11
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77
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$ 253.1 1
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1
218.64
$
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1 U.124,13
78
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:$ 253.1 1
$
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$ 253. 1 1
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$
220.10
$
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9 684.66
80
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$
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$
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81
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86
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87
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89
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90
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91
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93
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230.59
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94
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96
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23291
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97
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253.1 1
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98
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102
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Beginning
Scheduled
No.
Payment Date
Balance
Payment
Enka Payment
Total Payment
Principal
Interest
Ending Balance
I1?
1/20 a5
'§ 199486
>
_S-3.I1
$ -
$
2
1 'lb 4O
n a
7/ 1 /202�i
T l 7n,? 4C-
$
2511 1
$ —
b
2S3 I
E 24 ':.
'i.
'2G2P
$ 1.501.12
$
253.11
1 253.01
$
253.1 I
255. 1
,
i.'
i0/1/2U18
$ I00407
$
_.-G �I
$ -
$,
_-.3.!I
'.S 214J/
_ ,35
$ 71,
1 �7
L/1/ C 8,
'$
253.1 1
2522
12U
li i202i
252.27
u.;!:
Elk River HRA Homeowner Rehabilitation Program
Truth in Lending Statement
4.00% Installment Loan
Borrower(s): Jessica Gadach & Lynn Gadach Project #: ER-21
Project address:
870 Vernon Ave. NW
Elk River MN 55330
Annual % Rate
Finance Charge
Amount Financed
Total of Payments
The cost of your credit
Dollar amount the
Amount of credit
Amount you will have
as a yearly rate
credit will cost you
provided to you on
paid after you have made
(total interest)
your behalf
all payments as scheduled
4%
$5,373.54
$25,000.00
$30,373.54
Your payment schedule will be:
Number of Payments
Amount of Payments
Due Date
Monthly Starting
120
$253.11
1"of each month
February 1",2019
Security: You are giving a security interest in the property to improve
Prepayment: If you pay off early, you will not have to pay a penalty
Assumption: Someone buying your property cannot assume the remainder of the repayment agreement on the
original terms
See your contract documents for any additional information about non-payment, default, any required prepayment in
full before the schedule date, and prepaying refunds and penalties.
Itemization of the Amount Financed of $25,000.00
• Construction costs associated with rehabilitation project
The makers, guarantor:-, endorsers and any other parties to this Note hereby waive presentment, demand, protest and
notice of dishonor and protect and hereby agree that an extension or extensions of the time of payment of this Note
or any installment or part hereof may be made before, at or after maturity by agreement with any one or more of the
parties hereto with out notice to and without releasing the liability of any other party to this Note.
By executing this Note, the undersigned acknowledge receipt of a copy thereof prior to execution.
Borrower: '// u�i[!f�(/V l Date: Z / r O
ll
Borrower: / L Date: /,—) 'r7
Exhibit C
Permitted Encumbrances
None
C-1
Form No. 2051-51M—SATISFACTION OF MORTGAGE
By Corporation or Partnership
Satisfaction of Mortgage
Date: 6/30/2022
THAT CERTAIN MORTGAGE owned by the undersigned, a political subdivision under the laws of Minnesota, dated
10/1/2018 executed by Eileen L. Gadach, a single person as Life Estate Holder and Teresa Gadach, a single person,
Gerald Gadach, a single person, Edward W. Gadach, a married person, Lynn Gadach, a single person, Mary J.
Gadach, a single person and Janet Tschida, a married person, as joint tenants, as Mortgagor(s), to the Housing and
Redevelopment Authority in and for the City of Elk River, Minnesota, as Mortgagee to, and filed for record on
1/24/2019 as Document Number 867664, in the Office of the ☒ County Recorder ☐ Registrar of Titles of Sherburne
County, Minnesota, is with the indebtedness thereby secured, fully paid and satisfied.
Housing and Redevelopment Authority In and for the City of Elk River, Minnesota
STATE OF MINNESOTA }
} ss.
COUNTY OF SHERBURNE }
The foregoing instrument was acknowledged before me on _________________, by
________________________, the ____________________ of _______________, a political subdivision under
the laws of Minnesota, on behalf of the city.
_________________________________
Signature of Notarial Officer taking acknowledgement
(Reserved for recording data)
THIS INSTRUMENT WAS DRAFTED BY:
Housing and Redevelopment Authority in and for the City of
Elk River, Minnesota
13065 Orono Parkway,
Elk River, MN 55330
NOTARIAL STAMP OR SEAL (OR OTHER TITLE OR RANK)
____________________________
(Signature)
By:_________________________________
(Name of authorized signor)
__________________________________
(Title of authority)