VOLUNTARY MORTGAGE FORECLOSURE SALE
NOTICE IS HEREBY GIVEN that default has occurred in the conditions of that certain Mortgage dated March 17, 2011, executed by Michael G. Stevens and Sheila C. Stevens, as Mortgagors, to First International Bank & Trust, as Mortgagee. The present owner and holder of the Mortgage is First International Bank & Trust. First International Bank & Trust is not a transaction agent as defined by Minn. Stat. 58.02, subd. 30. The Mortgage was recorded in the office of the County Recorder in and for the County of Morrison, State of Minnesota on March 18, 2011, as Document No. 505582.
The premises described in and subject to the above-referenced Mortgage are:
Lots 6, 7, 8 and 9, Block 6, Town of Motley, according to a plat thereof on file and record in the office of the Morrison County Recorder.
The street address, city and zip code of the portion of the premises to which a street address has been assigned are as follows: 116 Hwy 10 North, Motley, MN 56466. The tax parcel identification numbers of the subject premises is 41.0082.000, 41.0083.000, 41.0084.000, and 41.0085.000.
The above-described Mortgage secures obligations originally due under the terms of a Promissory Note of date March 17, 2011 in the original principal sum of $275,000.00. No mortgagors have been released from financial obligation on said Mortgage. No action or proceeding has been instituted at law to recover the debts secured by the Mortgage or any part thereof. There is due on said Mortgage, including interest, late charges and taxes, if any, paid by the mortgagee, the amount of $229,197.89. Interest will continue to accrue at the per diem rate of $43.4960 from and after May 22, 2014.
The Mortgagor, Michael G. Stevens executed a Voluntary Mortgage Foreclosure Agreement on May 19, 2014.
The holder of the Mortgage has complied with all conditions precedent to acceleration of the debt secured by the Mortgage and foreclosure of the Mortgage, and all notice and other requirements of applicable statutes. Pursuant to the power of sale contained in the Mortgage, the Mortgage will be foreclosed and the mortgaged property sold by the Sheriff of Morrison County at public auction on the 24th day of June, 2014 at 10:00 a.m., at the Sheriffs Office, Morrison County Courthouse, Little Falls, Minnesota. The proceeds of sale will be utilized to pay the debt secured by the Mortgage and taxes, if any, on said premises paid by mortgagee, the costs of sale and attorneys fees and disbursements as allowed by law.
The time allowed by law for redemption by the mortgagors, or mortgagors personal representatives or assigns, is two (2) months from the date of said sale. The date and time by which mortgagors are required to vacate the property if the property is not redeemed under Minn. Stat. Section 582.32 is August 24, 2014 at 11:59 p.m.
Each junior lien holder may redeem in the order and manner provided in subdivision 9 of Minn. Stat. Section 582.32, beginning after the expiration of the mortgagors redemption period.
THE TIME ALLOWED BY LAW FOR REDEMPTION BY THE MORTGAGOR, MORTGAGORS PERSONAL REPRESENTATIVES OR ASSIGNS, MAY BE REDUCED TO FIVE WEEKS IF A JUDICIAL ORDER IS ENTERED UNDER MINNESOTA STATUTES, SECTION 582.032, DETERMINING AMONG OTHER THINGS, THAT THE MORTGAGED PREMISES ARE IMPROVED WITH A RESIDENTIAL DWELLING OF LESS THAN FIVE UNITS, ARE NOT PROPERTY USED IN AGRICULTURAL PRODUCTION, AND ARE ABANDONED.
Dated this 22nd day of May, 2014.
VOGEL LAW FIRM
By: /s/ Jon R. Brakke
Jon R. Brakke (#10765)
218 NP Avenue
PO Box 1389 Fargo, ND 58107-1389
ATTORNEY FOR FIRST INTERNATIONAL BANK & TRUST
THE RIGHT OF VERIFICATION OF THE DEBT AND IDENTITY OF THE ORIGINAL CREDITOR WITHIN THE TIME PROVIDED BY LAW IS NOT AFFECTED BY THIS ACTION. THIS COMMUNICATION IS FROM A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
PUBLISH: May 25; June 1, 8, 15 (227103)