Several Questions regarding MN open end mortgages:
1.) If the current farm/commercial mortgage does not have specific language stating it has a future advance option, can the mortgage be modified to include this language which I understand was the original intent of the former bank/loan officer?
2.) Can a new loan agreement be tied to the above mentioned open end mortgage currently perfected, and or modified to current statues, or are we restricted to use the original loan with a date that matched the original mortgage date as long as the original amount of the mortgage is not exceeded on the replacement loan documents?
3.) Can the farm/commercial mortgage be increased via a mortgage modification (if the mortgage registration tax is paid on the increased amount), and can update the language to ensure that the future advance language is included in the new modified mortgage (note: the original mortgage was not a closed or open mortgage)?
4.) Are there any exemptions from mortgage registration tax on farm mortgages, if the farm operating debt is already outstanding at the bank and the bank is requesting additional collateral to shore up the current obligation of the borrower?

I would do a couple of things:

1. Ask your legal counsel - sounds like the mortgage was done incorrectly at the onset? I think legal counsel should definitely be involved in the conversation
2. Talk to your County Recorders Office - they can answer your mortgage registration tax questions