NOTICE OF MORTGAGE FORECLOSURE SALE
Date: January 13, 2014
YOU ARE NOTIFIED THAT:
1. Default has occurred in the conditions of the Mortgage executed by Derek D. Reiter and Lynette A. Marthe, husband and wife, as Mortgagors, to Peoples Bank of Commerce, a Minnesota banking corporation, as Mortgagee, dated February 5, 2008 and filed of record on February 13, 2008 as Document No. A1079433 in the office of the County Recorder of Wright County, Minnesota. The land described in the mortgage is not registered.
TRANSACTION AGENT: None
TRANSACTION AGENTS MORTGAGE IDENTIFICATION NUMBER ON MORTGAGE: None
LENDER OR BROKER AND MORTGAGE ORIGINATOR STATED ON MORTGAGE: Peoples Bank of Commerce
RESIDENTIAL MORTGAGE SERVICER: None
2. The original principal amount secured by the Mortgage was: $382,500.00.
3. No action or proceeding at law is now pending to recover the debt secured by the Mortgage, or any part thereof.
4. That all preforeclosure requirements have been met.
5. 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.
6. At the date of this notice the amount due on the Mortgage, and taxes, if any, paid by the holder of the Mortgage is: $348,695.27.
7. Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the land located in Wright County, Minnesota, described as follows:
LEGAL DESCRIPTION OF PROPERTY:
That part of the South Half of the Northeast Quarter of Section 21, Township 120, Range 25, described as follows: Beginning at the Northeast corner of said South Half of Northeast Quarter; thence West along the North line of said South Half of the Northeast Quarter a distance of 653.60 feet; thence South parallel with said East line of said South Half of the Northeast Quarter, a distance of 521.98 feet; thence East deflecting 87 degrees 50 left, a distance of 654.36 feet to the East line of said South Half of the Northeast Quarter; thence North along said East line, a distance of 544.56 feet to the point of beginning, subject to a right of way of township road over the East side thereof, Wright County, Minnesota
STREET ADDRESS: 2667 Dague Avenue NE, Buffalo, MN 55313
TAX PARCEL ID NO. 202-000-211401
will be sold by the Sheriff of Wright County, Minnesota, at public auction on March 20, 2014 at 10:00 a.m., at the Wright County Law Enforcement Center, 3800 Braddock Avenue NE, Buffalo, MN 55313.
8. The time allowed by law for redemption by Mortgagors or Mortgagors assigns is six (6) months after the date of sale. The date and time to vacate the property is 11:59 p.m. on September 22, 2014, if the account is not reinstated or the owners do not redeem from the foreclosure sale.
9. THE TIME ALLOWED BY LAW FOR REDEMPTION BY THE MORTGAGORS, THE MORTGAGORS 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.
10. THIS IS A COMMUNICATION WITH A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.
Attorneys for Mortgagee
THOMSEN & NYBECK, P.A.
PEOPLES BANK OF COMMERCE
Robert D. Lucas (#64828) MORTGAGEE
3600 American Blvd. West, Suite 400
Bloomington, MN 55431
1/30-3/6/14, 3MT, Marthe