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Minnesota Residential Mortgage
Register this Minnesota Residential Mortgage against a real estate property as security from the homeowner for a home equity loan.
- The mortgage form contains the standard uniform covenants under federal mortgage lending regulations.
- It also contains additional provisions required under Minnesota law, such as acceleration and sale clauses and waiver of homestead exemption to ensure that the borrower cannot protect the property against sale by the lender if the borrower defaults.
- The mortgage secures repayment of the loan in conjunction with a promissory note signed by the borrower.
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