Dated: January 27, 2012

YOU ARE NOTIFIED THAT:

1. Default has occurred in the conditions of the Mortgage dated June 28, 2006, executed by Clinton C. Forbes and Danae M. Forbes, husband and wife, as Mortgagors to Merchants Bank, National Association, as Mortgagee and filed for record July 6, 2006, as Document Number 353659 in the Office of the County Recorder of Fillmore County, Minnesota. The land described in the Mortgage is not registered land.

2. The Mortgage has been assigned as follows: Not Applicable

3. The original principal amount secured by the Mortgage was: $145,500.00

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: $142,993.70

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

Lot One (1), Block Two (2) Lone Stone Fourth Subdivision to the City of Chatfield, Fillmore County, Minnesota.

will be sold by the County Sheriff of Fillmore County, Minnesota, at public auction on March 15, 2012, at 10:00 a.m., at the Main Lobby of the Fillmore County Courthouse, 100 Fillmore Street, Preston, Minnesota 55965.

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.

11. The street address of the property is: 1149 Lonestone, Chatfield, Minnesota 55923. The tax parcel identification number is: 26.0712.000.

12. TIME AND DATE TO VACATE PROPERTY: If the real estate is an owner-occupied, single-family dwelling, unless otherwise provided by law, the date on or before which the mortgagors must vacate the property if the mortgage is not reinstated under Section 580.30 or the property is not redeemed under Section 580.23 is 11:59 p.m. on September 15, 2012.

Attorney for Mortgagee

Mark A. Merchlewitz

BENSON & MERCHLEWITZ

174 Main Street

Winona, MN 55987

(507) 454-3752

MERCHANTS BANK,

NATIONAL ASSOCIATION

/s/ Mark A. Merchlewitz

By: Mark A. Merchlewitz

Attorney-in-Fact for Mortgagee

STATE OF MINNESOTA }

} ss.

COUNTY OF WINONA }

The foregoing instrument was acknowledged before me this 27th day of January, 2012, by Mark A. Merchlewitz, Attorney-in-Fact for Merchants Bank, National Association, Mortgagee.

/s/ Kristine K. Teske SIGNATURE OF PERSON TAKING ACKNOWLEDGMENT

THIS INSTRUMENT WAS

DRAFTED BY:

Mark A. Merchlewitz

BENSON & MERCHLEWITZ

174 Main Street

Winona, MN 55987

507-454-3752

2/2, 2/9, 2/16, 2/23, 3/1, 3/8