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SHAW ACQUISITION CO. v. BANK OF ELK RIVER

No. C2-00-1803.

627 N.W.2d 365 (2001)

SHAW ACQUISITION COMPANY, d/b/a Stewart Lumber Company, Respondent, v. The BANK OF ELK RIVER, Appellant.

Court of Appeals of Minnesota.

May 29, 2001.

Attorney(s) appearing for the Case

Mark J. Johnson, Lang, Pauly, Gregerson & Rosow, Ltd., U.S. Bank Place, Minneapolis, (for respondent).

James M. Neilson, Matthew A. Anderson, Babcock, Neilson, Mannella, LaFleur & Klint, P.L.L.P., Anoka, (for appellant).

Gerald G. Workinger, Jr., Edina, (for amici curiae Minnesota Bankers Association, Mortgage Bankers Association of Minnesota and Independent Community Bankers of Minnesota).

Considered and decided by SHUMAKER, Presiding Judge, RANDALL, Judge, and PETERSON, Judge.

OPINION

RANDALL, Judge.

Appellant challenges the district court's order granting respondent's motion for summary judgment. Appellant argues that the district court erred in concluding that appellant's foreclosure sale produced a surplus after appellant's first-priority mortgage was satisfied. Appellant claims that its split-priority junior mortgage must be satisfied also before respondent's second-position mechanic...

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