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FIRST MINNESOTA BANK v. OVERBY DEVELOPMENT, INC.

No. A09-1708.

783 N.W.2d 405 (2010)

FIRST MINNESOTA BANK, f/k/a First Minnesota Bank, N.A., Appellant, v. OVERBY DEVELOPMENT, INC., et al., Respondents, Great Woods Cabinetry, Inc., et al., Defendants.

Court of Appeals of Minnesota.

June 15, 2010.

Attorney(s) appearing for the Case

Thomas G. Wallrich, Thomas J. Radio, Heather L. Marx, Hinshaw & Culbertson LLP, Minneapolis, MN, for appellant.

C. Alden Pearson, C. Alden Pearson, P.A., Vadnais Heights, MN, for respondents.

Considered and decided by KALITOWSKI, Presiding Judge; MINGE, Judge; and HARTEN, Judge.

OPINION

MINGE, Judge.

This dispute is about the disposition of a surplus arising from a mortgage foreclosure. Appellant-mortgagee argues that (1) the district court misread this court's prior opinion and misidentified the law to be applied on remand; (2) under Minn.Stat. § 581.06, respondents-mortgagors are not entitled to any surplus so long as any part of the debt under the loan contract is unpaid; (3) the security interest granted in the loan contract...

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