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OSfMD LFF <br />FOSTERI AR <br />AND <br />DONNELLY <br />P. Gary Petersen <br />Dr. Dennis S. Killian <br />Northco Financial Corporation <br />December 11, 1981 <br />Page 6 <br />Previously, the partnership agreement had been executed, and copies <br />of the partnership agreement have already been delivered to you. <br />A corrective mortgage executed by Northco at closing to correct a <br />typographical error and discrepancy in the previous mortgage in favor <br />of P. Gary Petersen (attached as Exhibit 43) was not recordeu because <br />the expense of correcting the error exceeded the $9.00 discrepancy in <br />the mortgage. <br />Essentially, therefore, title to the property is now as follows <br />1. Lots 30, 31, and 32: <br />Fee owner: Tonka Lake Properties <br />First mortgagee on Lot 30: Midwest Federal in the amount of <br />$94,000.00. <br />Second mortgagee on Lot 30: Gladys Olson in the amount of <br />$50,000.00. <br />First mortgagee on Lot 31: Gladys Olson in the amount of <br />$20,000.00. <br />First mortgagee on Lot 32: <br />$20,000.00. <br />2. Lots 21-29, 33 <br />Gladys Olson in the amount of <br />Fe, owner and Contract Vendor: Richfield Bank 6 Trust Co. <br />Contract Vendee: Tonka Lake Properties <br />Mortgagee of Vendee's Interest: P. Gary Petersen in the amount <br />of $36,679.89 <br />