Fill and Sign the Mortgage by Business Entity Ucbc Form 2012 Minnesota

MORTGAGE DEED-INDIVIDUAL TO CORPORATION This Indenture , Made this _______________ day of ______________________, 20______, between ______________________________________________________________________, of the County of ___________________ and State of ________________________________, Mortgagor_____________, and _____________________________________________________ ______________________________________________________________________________a corporation under the laws of the State of ___________________, Mortgagee, Witnesseth , That the said mortgagor _________, in consideration of the sum of _____ ___________________________________________________________ DOLLARS, to _____ in hand paid by the said Mortgagee, the receipt whereof is hereby acknowledged, do _______ hereby Grant, Bargain, Sell, and Convey unto the said Mortgagee, its successors and assigns, Forever, all the tract________ or parcel________ of land lying and being in the County of _____ ______________________________________________ and State of Minnesota, described as follows, to-wit: To Have and to Hold the Same , Together with the hereditaments and appurtenances thereto belonging, to the said mortgagee, its successors and assigns, forever. And the said mortgagor _________ for ______________________ heirs, administrators, executors and assigns, do_________ covenant with the said mortgagee, its successors and assigns, as follows: That ____________ lawfully seized of said premises and has good right to sell and convey the same; that the same are free from all incumbrances, ______________________________ _______________________________________________________________________________ ____________________________________________________________________________; that the mortgagee, its successors and assigns, shall quietly enjoy and possess the same; and that the mortgagor ___________ will Warrant and Defend the title to the same against all lawful claims not hereinbefore specifically excepted. Provided, Nevertheless, That if the said mortgagor ___________, _______________heirs, administrators, executors or assigns, shall pay to the said mortgagee, its successors or assigns, the sum of _______________________________________ DOLLARS, according to the terms of __________________principal promissory note _________ of even date herewith due and payable, with interest thereon at the rate of ______________ per cent per annum, ____________________ _______________________________________________________________________________ ________________________________________________________________________executed by the said mortgagor________, and payable to said mortgagee, at its office in ________________ and shall repay to said mortgagee, its successors or assigns, at the times and with interest as - 1 - hereinafter specified, all sums advanced in protecting the lien of this mortgage, in payment of taxes on said premises, insurance premiums covering buildings thereon, principal or interest on any prior liens, expenses and attorney's fees herein provided for and sums advanced for any other purpose authorized herein, and shall keep and perform all the covenants and agreements herein contained then this deed to be null and void, and to be released at the mortgagor's expense. AND THE MORTGAGOR _____________, for _______________ heirs, administrators and executor, do_______ hereby, covenant and agree with the mortgagee, its successors and assigns, to pay the principal sum of money and interest as above specified, to pay all taxes and assessments now due or that may hereafter become liens against said premises insured by companies approved by the mortgagee against loss by fire for at least the sum of __________ ______________Dollars and against loss by windstorm for at least the sum of _______________ __________________________Dollars, and to deliver to said mortgagee the policies for such insurance with mortgage clause attached in favor of said mortgagee or its assigns; to pay when due, both principal and interest of all prior liens or incumbrances, if any, above mentioned and to keep said premises free and clear of all other prior liens or incumbrances; to commit or permit no waste on said premises and to keep them in good repair; to complete forthwith any improvements which may hereafter be under course of construction thereon; and to pay any other expenses and attorney's fees incurred by said mortgagee, its successors or assigns, by reason of litigation with any third party for the protection of the lien of this mortgage. In case of failure to pay said taxes and assessments, prior liens or incumbrances, expenses and attorney's fees as above specified, or to insure said buildings and deliver the policies as aforesaid, the mortgagee, its successors or assigns, may pay such taxes, assessments, prior liens, expenses and attorney's fees and interest thereon, or effect such insurance, and the sums so paid shall bear interest at the highest rate permitted y law for the date of such payment, shall be impressed as an additional lien upon said premises and be immediately due and payable form the mortgagor__________________________, ____________ heirs or assigns, to said mortgagee, its successors or assigns, and this mortgage shall from date thereof secure the repayment of such advances with interest. In case of default in any of the foregoing covenants, the mortgagor, _____________________, confers upon the mortgagee, ___________________________, the option of declaring the unpaid balance of said principal note and the interest accrued thereon, together with all sums advanced hereunder, immediately due and payable without notice, and hereby authorize and empower said mortgagee, its successors and assigns, to foreclose this mortgage by judicial proceedings or to sell said premises at public auction and convey the same to the purchaser in fee simple in accordance with the statute, and out of the moneys arising from such sale to retain all sums secured hereby, with interest and all legal costs and charges of such foreclosure and the maximum attorney's fee permitted by law, which costs, charges and fees the mortgagor herein agrees to pay. In Testimony Whereof, The said Mortgagor____________ _________ hereunto set __________________ hand ___________ the day and year first above written. ____________________________________. ____________________________________. ____________________________________. ____________________________________. State of _________________ ) ) ss. - 2 - County of ___________________ ) The foregoing instrument was acknowledged before me this ___________________ day of _________________ 20_________ by _____________________________________________ _______________________________________________________________________________ _______________________________________________________________________________ ____________________________________________________________________________ THIS INSTRUMENT WAS DRAFTED BY ____________________________________ (Name) ____________________________________ ____________________________________ (Address) Signature ___________________________ Title (or Rank)_______________________ Serial Number (if any) ________________ - 3 -