NOTICE OF MORTGAGE
FORECLOSURE SALE
Minn. Stat. 580.025, 580.04
DATE: April 16, 2025
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: February 17, 2020, with a Modification of Mortgage dated October 9,2020.
2. Mortgagor: KNOX RE Inc.
3. Mortgagee: Border Bank (formally known as Border State Bank)
4. Recording Information: Recorded on February 21, 2020 at 10:00 a.m. as Document Number 216937 in the Office of the County Recorder in Pennington County, Minnesota, with a Modification of Mortgage recorded on October 15, 2020 at 8:30 a.m. as Document No. 218758 in the Office of the County Recorder in Pennington County, Minnesota.
5. Assignments of Mortgage, if any: Not applicable.
INFORMATION REGARDING MORTGAGED PREMISES
6. Tax parcel identification number of the mortgaged premises: 25.00322990
7. Legal description of the mortgaged premises:
The East One Hundred Sixteen Feet (E. 116′) of Lots One (1) and Two (2), and all of Lot Three (3), in Block Twenty-nine (29) in the Townsite of Thief River Falls, commonly referred to as the Original Townsite of the City of Thief River Falls
8. The physical street address, city, and zip code of the mortgaged premises: 115 3rd Street East, Thief River Falls, MN 56701.
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 of the residential mortgage servicer and the lender or broker, as defined in Minn. Stat. § 58.02, is/are: Border Bank.
10. If stated on the Mortgage, the name of the mortgage originator, as defined in Minn. Stat. § 58.02, is: 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 $200,108.00 with an additional amount of $650,000.00 secured by the Modification of Mortgage.
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: $551,642.02 plus allowed costs and attorney’s fees.
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 Marshall County, Minnesota, at public auction on June 3, 2025 at 10:00 AM at the Pennington County Sheriff’s Office, 102 1st Street W, Thief River Falls, MN 56701.
15. The time allowed by law for redemption by Mortgagor or Mortgagor’s personal representatives of 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 December 3, 2025.
THE TIME ALLOWED BY LAW FOR REDEMPTION BY THE MORTGAGOR, THE MORTGAGOR’S PERSONAL REPRESENTATIVES OR ASSIGNS, MAY BE REDUCED TO FIVE (5) 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 (5) UNITS, ARE NOT PROPERTY USED IN AGRICULTURAL PRODUCTION, AND ARE ABANDONED.
Attorney(s) for Mortgagee:
Ryan W. Ames & John D. Schroeder
Zimney Foster P.C.
3100 South Columbia Road, Suite 200
Grand Forks, ND 58201
Name of Mortgagee: Border Bank, formally known as Border State Bank
PLEASE BE ADVISED THAT THIS OFFICE IS ATTEMPTING TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE.