NOTICE OF MORTGAGE FORECLOSURE SALE

Dated: July 7, 2008

YOU ARE NOTIFIED THAT:

1. Default has occurred in the conditions of the Mortgage dated October 29, 2003, executed by Jeffrey S. Lodin and Mary B. Lodin, husband and wife, as Mortgagors to Kanabec State Bank, as Mortgagee and filed for record October 29, 2003, as Document Number 203056 in the Office of the County Recorder of Kanabec County, Minnesota. The land described in the Mortgage is not registered land.

2. The Mortgage has been assigned as follows: Said Mortgage was assigned to Merchants Bank, National Association by Assignment of Mortgage dated June 30, 2004 and recorded with the Kanabec County Recorder on July 6, 2004, as Document Number 207442.

3. The original principal amount secured by the Mortgage was: $200,000.00

4. No action or proceeding at law is now pending to recover the debt secured by the mortgage, or any part thereof.

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: $ 185,183.41

7. Pursuant to the power of sale in the Mortgage, the Mortgage will be foreclosed, and the land described as follows:

The North 300 feet of the South 780 feet of the Northwest Quarter of the Northwest Quarter (NW ¼ of NW ¼) of Section Thirty-six (36), Township Thirty-nine (39), Range Twenty-four (24), Kanabec County, Minnesota

will be sold by the County Sheriff of Kanabec County, Minnesota, at public auction on August 28, 2008, at 10:00 a.m., at the Kanabec County Sheriff’s Office, Lobby of the Sheriff’s Office, 18 North Vine Street, Suite 143, Mora, Minnesota 55051.

8. The time allowed by law for redemption by Mortgagors or Mortgagors’ personal representatives or assigns is six (6) months after the date of sale.

9. THE TIME ALLOWED BY LAW FOR REDEMPTION BY THE MORTGAGORS, THE MORTGAGORS’ 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.

10. THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. THE RIGHT TO VERIFICATION OF THE DEBT AND THE IDENTITY OF THE CREDITOR WILL NOT BE AFFECTED BY THIS FORECLOSURE PROCEEDING.

Attorney for Mortgagee

MERCHANTS BANK, NATIONAL ASSOCIATION

Mark A. Merchlewitz

BENSON & MERCHLEWITZ

174 Main Street

Winona, MN 55987

Mark A. Merchlewitz

(507)454-3752 Mark A. Merchlewitz

Attorney-in-Fact for

Merchants Bank, National Association

Subscribed and sworn to before

me this 7th day of July, 2008.

Kristine K. Teske

Notary Public

Published in the Kanabec County Times

July 17, 24, 31, Aug. 7, 14, 21, 2008

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