Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1878-03-19
MORTGAGE FORECLOSURE

copy OF tHe NeU LUtC Restoring TIE Ot0
Plan of Foreclosure by advertisement.
AN ACT providing for the foreclosure of mortgages on
real estate by advertisement.
Be it enacted by the Legislature of the State OF Min
nesota
Section Every mortgage of real estate heretofore
hayeafter executed, containing therein power OF
sale. upon default being made in any condition of
within after the maturity of such mortgage
the debt secured thereby in the cases and in the
seo2 T. entitle any party to give notice as herein
after prescribed and to make such foreclosure it is
Firss-That some default in condition of such
mortgage has Cured by which the power to sell has
secoDd.That action proceeding has instituted
such mortgage any part thereof if the action
proceeding has been instituted, that the same has
been discontinued, or that an execution upon the
rendered therein has been returned unsatis
fed IN hHs b In pa, ana containing snc
SALE has been duly recorded and has been assign
ed that all the assignments thereof have been re-
SEE When mortgage is given to secure the
mens, either Of principal or interest mentioned in
such mortgage, may be taken deemed. 1 to be a
gage for each of such instaents, be foreclosed
in the same manner, and with like effect, as If ouch
quent inst .liments and redemption of any such sale
BY the mortgagor, shall have the like effect If the
Sec In such # he mossaged premises con
tract tracts shall be Sold sufficient satisfy
aid distinct farms tract the whole shall be sold,
principal due with interest and SITS of SALE be APP
Secured by laid mortgage and not due and payable at
the time OF such sale and such residue does bear
the legal the time during Which the
residue hall not be due and PAYABLE; and he surplus
If any, shall be paid to the mOrtgagor, his legal
Sec s. Notice that such mortgage will be reclosed
nv sale Of he MI of
them, shall be given by publishing the same for six
prss sast
the premises to be sold some thereof
printed and published county #
such newspaper if there not then in newspaper
county which the premises located is attached
for judicial purposes if there be such newspaper if
cd It TIE Of the
such notice shall be served in Ike manner summons
beo the time of SALE he person in possession of
the mortgaged premises if the same actually &C.
pied Proof Of such service may be made, certified
and recorded in the same proof Of publica.
ton of notice of sale under mortgage.
Sec. 6. Every notice shall specify:
First-The names OF the mortgager and of the mort
.seeondHihe date Of tho mortgage and when re-
Third-The amount claimed to be due thereon
and any, paid by the MORTGAGE at the date of
conforming substantially to that contained in the
mortgage p, And
Sec. Z. The sale shalt be public vendue between
hours of nine oclo in the forenoon and the set
shah made y the sheE of the county bis
Sec, 8. Such sale may be postponed from tire tic
by n e oe R %SS
original advertisement was published and continuing
postponed the expense of the party requesting such
Sec If the mortgaged premises consist of sep 1rate
tracts, they shall be sold
ly and farms tracts shall he sold than
necessary satisfy the amount due such mortgage
at the date of the notice of sale, with interest 1e
| paid and costs of sale.
| Sec. TO- The mortgage, his assigns, or his or the
legal representatives, may fairly and In good faith
purchase the premises advertised, any part there
Sec. IL Whenever any sale Of real property is made
officer shall make and deliver to the purch asel, Ger
| tifcate under his hand and seal contracting:
First-A description OF the mortgage under which
secondEA description of the real property sold.
| Thisd-The prics paid for each parcel told separ
Fourth The date of the sale and the name of tn.
Fifth-The time allowed by law for redemption.
Said certificate shall be executed, proved or &C
veyance of real estate, within twenty t2] days afte
Sec T. Such certificate, SO proved, acknowledged
and recorded, SHALL upon the expiration of the tim.
operate ss 1 s 70 the par
Of the ortgagor in and to the premises named there
in, at the date Of such mortgage, without any othe
! Sec 49, The NOR gagor, his heirs, executors ad
ministrators assigns whose real property is sold il
conformity he provisions OF this act may, within
twelve III months after such sale, redeem such pro
money for which the sold, together with in
terest the same from the time of such sale. Pro
vided that redemption shall be made for real pro
perry sold in conformity to the provisions of this
when mortgage forecosed contains dis tinct
of interest more than seven per cent. per annum
the time provided, the sum for which said propert
solj together with interest thereon from date
sale to the time of redemption, at the rate specified
in the mortgage, not to exceed ten cont. per
num- Provided that when rate OF interest is spec
fed in the mortgage, the rate of interest after sal
shall be per cent. per annum on the amount TO
which the property was sold.
Sec. IA. Redemption shall be made as follows: Tn
| person desiring to redeem, shall pay to the perso
holding the rights acquired under such SALE him
to the sheriff who made the SALE or his successor Il
Office the amount required by law for such redemption
4 and shall produce to such person or officer
4 First-A certified copy of the docket OF the judi
ment the deed of conveyance mortgage, of tn
record files evdencing any other lien, under whic
he claims right to redeem. certified by the officer
whose custody such docket, record files shall be.
Secondary assignment necessary to establish b
scribing witness thereto of acquainte
with the ignature of the assignor, and
Third-An affidavit of himself or his agent, shown
the amount then actually due on his lien:
Sec Is. The person or othcer from whom such r
demption is made, shall make and deliver to the pc
First-The name of the person redeeming and tt
amount paid by him on such redemption.
II Second-A description of the sale for which such
! demption is made and of the property redeeme
-Third-Statinp unon What claim snch REDEEM ptjon