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Notice

Mortgage Foreclosure Sale

March 19, 2013
Marshall Independent

March 19, 26, April 2, 9, 16, 23, 2013

NOTICE OF MORTGAGE FORECLOSURE SALE

Minn. Stat. 580.025, 580.04

Minnesota Uniform

Conveyancing Blanks

Form 60.2.1 (2009)

DATE: March 8, 2013.

YOU ARE NOTIFIED that default has occurred in the conditions of the following described Mortgage:

INFORMATION REGARDING MORTGAGE TO BE FORECLOSED

1.Date of Mortgage:October 19, 2004.

2.Mortgagor(s): David A. Gackstetter and Linda M. Gackstetter, husband and wife.

3.Mortgagees: First Independent Bank.

4.Recording Information: Recorded on October 27, 2004, as Document Number 156650, in the Office of the County Recorder of Lyon County, Minnesota, and mortgage modification agreement dated November 10, 2009, recorded November 16, 2009 as Document No. 183858.

5.Assignments of Mortgage, if any: Not Applicable.

INFORMATION REGARDING MORTGAGED PREMISES

6.Tax parcel identification number of the mortgaged premises: 27-602010-0

7.Legal description of the mortgaged premises:

That part of the Northeast Quarter (NE1/4) of Section Seven (7), Township One Hundred Eleven (111), Range Forty-one (41), West of the Fifth Principal Meridian, described as follows:

Commencing at the Southeast corner of said NE1/4; thence North, assumed bearing, along the East line of said NE1/4, a distance of 341.00 feet to the point of beginning of the land to be described; thence continuing North along said East line, a distance of 95 feet; thence West a distance of 353 feet more or less to the centerline of the Redwood River; thence South 5 degrees 17 minutes East, along said centerline, a distance of 42.67 feet to the intersection with a line bearing North 81 degrees 26 minutes 45 seconds West from the point of beginning; thence South 81 degrees 26 minutes, 45 second East a distance of 353 feet more or less to the point of beginning, AND ALSO the following described tract being a part of the NE1/4 of Section 7, Township 111, Range 41, described as follows: Commencing at the southeast corner of said NE 1/4 thence north, assumed bearing along the east line of said NE1/4, a distance of 436.00 feet to the point of beginning, thence continuing north along said east line, a distance of 7.15 feet; thence North 89 degrees, 20 minutes, 45 seconds west to the centerline of Redwood River; thence southerly along said centerline, to the intersection with a line bearing west from the point of beginning; thence east to the point of beginning, subject to easements of record.

8.The physical street address, city, and zip code of the mortgaged premises: 2657 County Road 7, Marshall, MN 56258.

OTHER FORECLOSURE DATA

9.The person holding the Mortgage: is not a transaction agent, as defined by Minn. Stat. 58.02, subd. 30. The name(s) of the residential mortgage servicer and the lender or broker, as defined in Minn. Stat. 58.02, is First Independent Bank.

10. If stated on the Mortgage, the name of the mortgage originator, as defined in Minn. Stat. 58.02, is/are Not Applicable.

INFORMATION REGARDING FORECLOSURE

11.The requisites of Minn. Stat. 580.02 have been satisfied.

12.The original principal amount secured by the Mortgage was $110,930.86.

13. At the date of this notice the amount due on the Mortgage, including taxes, if any, paid by the holder of the Mortgage, is: $90,024.24.

14.Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the mortgaged premises will be sold by the Sheriff of Lyon County, Minnesota, at public auction on May 16, 2013, at 10:00 a.m. at the Lyon County Sheriff's Office at 611 West Main Street, Marshall, MN 56258.

15. The time allowed by law for redemption by Mortgagor or Mortgagor's personal representatives or assigns is six (6) months after the date of sale.

16.Minn. Stat. 580.04(b) provides, "If the real estate is an owner-occupied, single-family dwelling, the notice must also specify the date on or before which the mortgagor must vacate the property if the mortgage is not reinstated under section 580.30 or the property redeemed under section 580.23." If this statute applies, the time to vacate the property is 11:59 p.m. on November 16, 2013.

THE TIME ALLOWED BY LAW FOR REDEMPTION BY THE MORTGAGOR, THE MORTGAGOR'S 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.

THIS COMMUNICATION IS FROM A DEBT COLLECTOR ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION WILL BE USED FOR THIS PURPOSE.

Name and address of

Attorney for Mortgagee

Name of Mortgagee or

or Mortgage Assignee:

Mortgage Assignee:

First Independent Bank

Paul E. Stoneberg

STONEBERG, GILES & STROUP, P.A.

300 South O'Connell Street

Marshall, MN 56258

Telephone: (507) 537-0591

Attorney Reg. No: 105892

 
 
 

 

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