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NOTICE OF
TERMINATION OF
CONTRACT FOR DEED
YOU ARE NOTIFIED:
1. Default has occurred in the Contract for Deed (“Contract”) dated January 14, 2021, and recorded on January 19, 2021, as Document Number 227639 in the Office of the County Recorder of Pipestone County, Minnesota, in which Karen L. Larson, as Trustee of the Larson Family Revocable Living Trust dated April 6, 2007, as Seller, sold to Jeremy Larson, as Purchaser, real property in Pipestone County, Minnesota, described as follows:
Lot Four (4), Block Two (2), Original Plat of the Village (now City) of Jasper, County of Pipestone, State of Minnesota.
2. The default is as follows:
(1) Failure to make monthly installments of principal and interest due on June 1, 2023, through March 1, 2024, each in the amount of $700.00; and
(2) Failure to pay the real estate taxes due and payable in 2023, plus tax, penalty and interest in the amount of $1,001.18.
3. For contracts executed after August 1, 1976, and prior to August 1, 1985, the purchase price was […] Dollars ($ […]) and the amount of the purchase price paid by the Purchaser is […] Dollars ($ […]), which is […]% of the purchase price, as calculated in the manner required by Minn. Stat. 559.21, subd. 1e.
4. The conditions contained in Minn. Stat. 559.209 have been complied with or are not applicable.
5. THIS NOTICE IS TO INFORM YOU THAT BY THIS NOTICE THE SELLER HAS BEGUN PROCEEDINGS UNDER MINNESOTA STATUTES, SECTION 559.21, TO TERMINATE YOUR CONTRACT FOR THE PURCHASE OF YOUR PROPERTY FOR THE REASONS SPECIFIED IN THIS NOTICE. THE CONTRACT WILL TERMINATE 90 DAYS AFTER SERVICE OF THIS NOTICE UPON YOU UNLESS BEFORE THEN:
(a.) THE PERSON AUTHORIZED IN THIS NOTICE TO RECEIVE PAYMENTS RECEIVES FROM YOU:
(1.) THE AMOUNT THIS NOTICE SAYS YOU OWE; PLUS
(2.) THE COSTS OF SERVICE (TO BE SENT TO YOU); PLUS
(3.) $500.00 TO APPLY TO ATTORNEYS’ FEES ACTUALLY EXPENDED OR INCURRED; PLUS
(4.) FOR CONTRACTS EXECUTED ON OR AFTER MAY 1, 1980, ANY ADDITIONAL PAYMENTS BECOMING DUE UNDER THE CONTRACT TO THE SELLER AFTER THIS NOTICE WAS SERVED ON YOU; PLUS
(5.) FOR CONTRACTS, OTHER THAN EARNEST MONEY CONTRACTS, PURCHASE AGREEMENTS, AND EXERCISED OPTIONS, EXECUTED ON OR AFTER AUGUST 1, 1985, $112.00 (WHICH IS TWO PERCENT OF THE AMOUNT IN DEFAULT AT THE TIME OF SERVICE OTHER THAN THE FINAL BALLOON PAYMENT, ANY TAXES, ASSESSMENTS, MORTGAGES, OR PRIOR CONTRACTS THAT ARE ASSUMED BY YOU); OR
(b.) YOU SECURE FROM A COUNTY OR DISTRICT COURT AN ORDER THAT THE TERMINATION OF THE CONTRACT BE SUSPENDED UNTIL YOUR CLAIMS OR DEFENSES ARE FINALLY DISPOSED OF BY TRIAL, HEARING OR SETTLEMENT. YOUR ACTION MUST SPECIFICALLY STATE THOSE FACTS AND GROUNDS THAT DEMONSTRATE YOUR CLAIMS OR DEFENSES.
IF YOU DO NOT DO ONE OR THE OTHER OF THE ABOVE THINGS WITHIN THE TIME PERIOD SPECIFIED IN THIS NOTICE, YOUR CONTRACT WILL TERMINATE AT THE END OF THE PERIOD AND YOU WILL LOSE ALL THE MONEY YOU HAVE PAID ON THE CONTRACT; YOU WILL LOSE YOUR RIGHT TO POSSESSION OF THE PROPERTY; YOU MAY LOSE YOUR RIGHT TO ASSERT ANY CLAIMS OR DEFENSES THAT YOU MIGHT HAVE; AND YOU WILL BE EVICTED. IF YOU HAVE ANY QUESTIONS ABOUT THIS NOTICE, CONTACT AN ATTORNEY IMMEDIATELY.
6. The name, mailing address, street address or location and telephone number of the Seller or of an attorney authorized by the seller to accept payments pursuant to this notice is:
Name: Damain D. Sandy
Attorney for Seller
Mailing Address: P.O. Box 128, Pipestone, MN 56164
Street Address or Location where the Seller or the Attorney will accept payment pursuant to this notice: 114 North Hiawatha Avenue, Pipestone, MN 56164
Telephone: (507) 825-4266
This person is authorized to receive the payments from you under this notice.
