Askov American. [volume] (Askov, Pine County, Minn.) 1914-current, 1937-05-06

lions existing q hereinbefoes 81
forth have created an emergency
of such q nature that justifles and
validates changes In legislation pro-
viding for the temporary manner
1 method, terms and conditions upon
which mortgage foreclosure sales
may be had or postponed and juris-
diction to administer equitable re-
lief in connection Herewith may
be conferred upon the District
Court; and
Whereas, Mason's Minnesota
Statutes Of 1927. Section 9608,
which provides for the postpone
ment of mortgage foreclosure sales,
has remained for more than thirty
years, a provision Of the statutes
in contemplation Of which provi-
sions for foreclosure by advertise
ment have been agreed upon;
Now Therefore,
Be it enacted by the Legislature OF
the State of Minnesota:
The provisions of this act shall
not apply to any mortgage while
such mortgage is held by the United
States or by any agency, depart
ment, bureau, board or commission
Thereof, as security or plege Of the
maker, its successors or assigns,
nor shall the provisions Of this act
apply to any mortgage held as
. security or pledge to secure pay
ment Of public debt or to secure
payment Of the deposit Of public
funds.
The following sections Of this act
preceding Part Two shall constitute
Part One.
Section I. In view Of tho situa-
ton hereinbefore set forth, the Leg
islature Of the State Of Minnesota
hereby declares that q public eco
nomic emergency does exist in the
State Of Minnesota.
Section 2. In any proceedings
heretofore commenced for the fore
closure Of mortgage on real estate
by advertisement. in which a sale
Of the property has not been had,
or In any such proceedings here
after commenced, when the mort
gagor, or the owner in possession
OF the mortgaged premises, or any
one claiming under said mortgagor,
or any one liable for the mortgage
debt, at any time after the issuance
Of the notice Of such foreclosure
proceedings, shall apply to the Dis
trict Court OF the county wherein
such foreclosure proceedings are be-
ing had, or are pending, by filing
and serving summons and veri-
fed complaint with prayer that
the sale in foreclosure by adver-
tisement shall be postponed and
that the foreclosure, if any, shall
proceed by action. II 1t appears
to the court that granting of the
relief as prayed would be equitable
and just, then, and in that event,
the foreclosure proceedings by ad-
vertisement may be postponed by
the court by an eX parte order
which shall be served with the sum-
mons and complaint upon the party
foreclosing or his attorney, and at
the time of the hearing upon said
order the court may then further
postpone such sale, and the parties
seeking to foreclose such mortgage
shall proceed, if at all, to foreclose
said mortgage by interpoSing a
cross complaint IN such action. Such
service may be made as now pro-
vided for the service of a sum-
mons in civil action, or by reg
istered mail, on the person fore
closing or his authorized agent or
attorney, at the last known address
OF such person, agent or attorney
respectively. AS condition preced-
ent to such postponement Of such
foreclosure sale by advertisement
the party filing such verified COM
plant shall pay to the clerk for
the person foreclosing the mort
gage the expenses incurred, not in
GLIDING attorneys fees which may
accrue prior to any postponement.
The filing Of such verified COM
plant shall be deemed a waiver Of
publication Of notice of postpone
ment Of the foreclosure sale, and
the sale at the time which may be
fixed by the court shall be deemed
to be a sale postponed in lieu of
the time Of sale specified in the
published notice Of mortgage fore
closure sale.
Section 3. When any mortgage
has been foreclosed by action, the
court shall, on the coming in of
the report Of sale, cause notice Of
hearing thereon to be served on
the parties to the action who have
appeared, and fix the time and
place for the hearing on said re-
port. Before granting an order con-
frming said sale, the court shall,
II it appears upon due examination
that the sale price is unreasonably
and unfairly inadequate, or that
Justice has otherwise not been done,
order a resale. II the sale Is con-
frmed, the sheriff, or his deputy,
shall forthwith execute and de-
liver the proper certificate Of sale
which shall be recorded within
twenty days after such confrma-
ton. Upon the hearing Of the mo-
ton for an order, confirming the
sale Of the premises involved In
the foreclosure Of mortgages by
action, in case the evidence is in
sufficient to establish a fair and
reasonable market or rental value
Of such property, the court shall
receive any competent evidence, in
Guiding evidence tending to eStab-
lish the actual value of the prop
erty involved in said mortgage fore
closure proceedings, for the pur-
pose, or purposes, for which said
property IS or can be used. The
court shall also rncaiVa anY evil