This is an attempt to collect a debt, and any information obtained will be used for that purpose.
Default has occurred in the conditions of a mortgage made by PENINSULA GROUP, INCORPORATED, a Michigan corporation, Mortgagor, to INDEPENDENT MORTGAGE COMPANY WEST MICHIGAN, a Michigan banking corporation, having its principal office at 4200 East Beltline, Grand Rapids, MI 49525, Mortgagee, dated July 29, 2005 and recorded August 1, 2005 in Liber 864 of Mortgages, Page 699, modified in Liber 906, Page 699, Liber 920, Page 162 and Liber 951, Page 346. By reason of such default the undersigned elects to declare the entire unpaid amount of said mortgage due and payable forthwith.
At the date of this Notice there is claimed to be due for principal and interest on said mortgage the sum of THREE HUNDRED TWO THOUSAND EIGHT HUNDRED SEVENTY THREE AND 80/100 ($302,873.80) dollars including interest at the rate of 8.25% per annum. No suit or proceeding at law has been instituted to recover the debt secured by said mortgage or any part thereof.
Notice is hereby given that by virtue of the power of sale contained in said mortgage and the statute in such case made and provided and to pay said amount with interest as provided in said mortgage, and all legal costs, charges, and expenses, including attorney fees allowed by law, said mortgage will be foreclosed by sale of the mortgaged premises at public vendue to the highest bidder at the lobby of the Leelanau County Courthouse, the place of holding the Circuit Court within the County of Leelanau, City of Suttons Bay, Michigan, on August 22, 2008, at 11:00 a.m., local time.
Pursuant to Public Act No. 104, Public Acts of 1971 [MCLA 600.3240(8), MSA 27A.3240(8)] the redemption period shall be 6 months from the date of the foreclosure sale, unless the property is determined to be abandoned under MCLA 600.3241a; MSA 27A.3241(1), in which case the property may be redeemed during the 30 days immediately following the sale or expiration of statutory notice period.
The premises covered by said mortgage are situated in the City of Glen Arbor, County of Leelanau, State of Michigan, described as follows, to wit:
Unit 35, Woodstone Condominium, according to the Master Deed recorded in Liber 599, Pages 88 through 147, First Amendment to the Master Deed recorded in Liber 659, Pages 380 through 385, Second Amendment to the Master Deed recorded in Liber 672, pages 959 through 988, Third Amendment to Master Deed recorded in Liber 768, pages 435 through 446 and Fourth Amendment to the Master Deed recorded in Liber 832, Pages 487 through 493, Leelanau County Records, and designated as Replat No. 1 of Leelanau County Condominium Subdivision Plan No. 107. Together with rights in general common elements and limited common elements as set forth in above Master Deed and as described in Act 59 of the Public Acts of 1978 as amended. P.P. #45-006-860-035-00.
Date: DATE: July 11, 2008
INDEPENDENT MORTGAGE COMPANY WEST MICHIGAN
a Michigan banking corporation,
Mortgagee
SCHENK BONCHER & RYPMA
Gary P. Schenk P19970
601 Three Mile Road, N.W.
Grand Rapids, MI 49544-1601
(616) 647-8277 17-7