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HomeMy WebLinkAbout2008 Lawsuits UNITED STATES DISTRICT COURT SOUTHERN District of IOWA MICHAEL DAHLEN,JANET DAHLEN, AND SUMMONS IN A CIVIL ACTION MICHAEL A. MCNIEL, Plaintiff, v. CASE NUMBER: 3:08-CV00124-JAJ TJS SHELTER HOUSE, THE IOWA CITY BOARD OF ADJUSTMENT, and the CITY OF IOWA CITY, IOWA, Defendant. TO: (Name and address of Defendant) Shelter House, 1700 S 1 Ave., Iowa City, IA 52240 City of Iowa City, Iowa, 410 E Washington St., Iowa City, IA 52240 Iowa City Board of Adjustment, 410 East Washington St., Iowa City, IA 52240 YOU ARE HEREBY SUMMONED and required to serve on PLAINTIFF'S ATTORNEY(name and address) Gregg Geerdes,Dey Building, 105 Iowa Avenue, Suite 234, Iowa City, Iowa 52240 an answer to the complaint which is served on you with this summons, within 20 days after service of this summons on you, exclusive of the day of service. If you fail to do so,judgment by default will be taken against you for the relief demanded in the complaint. Any answer that you serve on the parties to this action must be filed within the Clerk of this Court within a reasonable period of time after service. " c1/4 9/o CLERK ti,y DATE ( y) DEPUTY CLERK " -' 121 77 l- -<r 1' m 0 Crn Cv Onz-11) g "f;-- > CA RETURN OF SERVICE Service of the Summons and complaint was made by DATE me' NAME OF SERVER(PRINT) TITLE Check one box below to indicate appropriate method of service ❑ Served personally upon the defendant.Place where served: ❑ Left copies thereof at the defendant's dwelling house or usual place of abode with a person of suitable age and discretion then residing therein. Name of person with whom the summons and complaint were left: ❑ Returned unexecuted: ❑ Other(specify): STATEMENT OF SERVICE FEES TRAVEL SERVICES TOTAL DECLARATION OF SERVER I declare under penalty of perjury the laws of the United States of America that the foregoing information contained in the Return of Service and Statement of Service Fees is true and correct. Executed on Date Signature of Server Address of Server O u—s o 0 CO O rn As to who may serve a summons see Rule 4 of the Federal Rules of Civil Procedure. Case 3:08-cv-00124-JAJ-TJS Document 1 Filed 09/25/2008 Page 1 of 2 IN THE UNITED STATES DISTRICT COURT SOUTHERN DISTRICT OF IOWA DAVENPORT DIVISION MICHAEL DAHLEN, JANET DAHLEN, AND MICHAEL A. MCNIEL, COMPLAINT Plaintiffs, O NO. Orm v. r cor CITY .111 SHELTER HOUSE, THE IOWA r BOARD OF ADJUSTMENT, AND THE — CITY OF IOWA CITY, IOWA, 7� Defendants. For their Complaint, Plaintiffs state: 1. This action seeks monetary damages and injunctive and other relief for the violation of Plaintiffs' rights under the United States Constitution, including their due process rights and right to ownership and enjoyment of property. A claim under 42 USC §1983 is also asserted. Defendants are entities with their principal places of business being in Johnson County, Iowa. 2. Plaintiffs own property which is adjacent to or across a public street from a parcel of property ("The Subject Property") located in the southeast quadrant of the intersection of Waterfront Drive and Southgate Avenue, Iowa City, Johnson County, Iowa 3. The Subject Property is owned by and/or is being developed by Defendant Shelter House for use as a shelter for homeless persons. 4. In connection with the development and the construction of the project described above, Shelter House has acquired and/or stands ready to acquire from Defendant Board of Adjustment and Defendant City of Iowa City a special exception and/or building permit. Defendants City of Iowa City and Defendant Iowa City Board of Adjustment have issued and/or are prepared to issue a special exception and building permit to Shelter House for this development. 5. Plaintiffs have owned their respective parcels of real estate for many years, have made significant improvements thereto, and have operated long standing commercial businesses on these premises. Case 3:08-cv-00124-JAJ-TJS Document 1 Filed 09/25/2008 Page 2 of 2 6. The granting of the building permit and special exception described above and the construction and operation of the use planned by Shelter House will violate and infringe upon the due process rights and right to own and enjoy property guaranteed by the United States Constitution to Plaintiffs. 7. The special exception held by Shelter House was issued through a retroactive change in applicable law and standards which likewise constitutes a violation of Plaintiffs' due process, right to enjoyment of property, and other rights under the United States Constitution. 8. An award of damages and injunctive relief under 42 USC §1983 and other federal law is appropriate. WHEREFORE, Plaintiffs request an award of damages, injunctive and equitable relief, attorney fees, the costs of this action, and other relief as appropriate. Respectfully Submitted, BY: /S/ GREGG GEERDES (470-70-0831) Dey Building 105 Iowa Avenue, Suite 234 Iowa City, Iowa 52240 (319)341-3304 (319) 341-3306 fax ATTORNEY FOR PLAINTIFFS O i ) —y r- - o 0 Co. CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE • PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540•(319) 356-6030 PLAINTIFF : DAHLENS & MCNIEL Docket No 08-06104 State IIOWA vs. Court No 13:08-CV00124-JA I County DEFENDANT: SHELTER HOUSE Ref No L j Received 10/08/2008 DEFENDANT: CITY OF IOWA CITY DEFENDANT: IOWA CITY BOARD OF ADJUSTME Requestor(s) Phone GEERDES,GREGG (319) 341-3304 Name CITY OF IOWA CITY Party Type ,DEFENDANT Address [410 E WASHINGTON ST IOWA CITY IIA 52240- Phone (319)356-5030 E-Mail I Fax [ - Employer Zone I J Comments Documents Document Serve by Date OE PSR Description/Special Instructions SUMMONS& COMPLAINT Service Information Attempts Log Date Time Server Notes Date /0— Time /C, c) Type C_ CoGv "t — Party PVA /(47— f,4 N a Relationship C - C I C 4/I-- Race (--"`"'' Sex 1' DOB Location 41 U// -67 t.�/krj�.N to f-t,,,... ezk.. 4-Y Miles ( �`,`� Fee ( Officer (17-----1 Notes: O i ▪n o .� C7 i 1 0 ▪ ((7J ° • 771 • rn o D CD Printed:Wednesday,October 08,2008 Page 1 of 1 END OF CASE FILE IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY NATIONAL CITY REAL ESTATE ) EQUITY NO. EQCV069423 SERVICES,LLC SUCCESSOR BY ) MERGER TO NATIONAL CITY ) MORTGAGE, INC. F/K/A NATIONAL CITY ) AI HDAVIT IN SUPPORT MORTGAGE CO., ) OF MOTION FOR SUMMARY JUDGMENT Plaintiff, ) ) vs. ) O SCOTT E. LEHNERT, DAWN M. ) LEHNERT,UNIVERSITY OF IOWA COMMUNITY CREDIT UNION A/K/A U ) - 111 OF I COMMUNITY CREDIT UNION, CITY ) m OF CORALVILLE, CITY OF IOWA CITY, ) p CITY OF NORTH LIBERTY and PARTIES ) v� IN POSSESSION, ) ) Defendants. ) STATE OF Ohio ) ) ss: COUNTY OF Montgomery I, Mendy Mundey , being first duly sworn on oath, hereby depose and state that I am a Authorized Signer of National City Real Estate Services, LLC • successor by merger to National City Mortgage, Inc. f/k/a National City Mortgage Co.,that I have read the Foreclosure Petition and the Motion for Summary Judgment in the above-entitled action and that I am familiar with the facts concerning this transaction and occurrence, and that the statements contained therein are true and correct as I verily believe. I further state that Dawn M. Lehnert and Scott E. Lehnert, made and executed the Promissory Note attached to the Foreclosure Petition as Exhibit"A" and that the consideration #577655 r`m 0 ) for said note was a$162,000.00 loan. I further state that Dawn M. Lehnert and Scott E. Lehnert, executed and delivered the Real Estate Mortgage upon the real estate located in Johnson County, Iowa, a copy of which is attached to the Foreclosure Petition as Exhibit"B". I further state that Dawn M. Lehnert and Scott E. Lehnert, failed to pay the Note with interest as provided by the terms of the Note referred to as Exhibit"A", and the unpaid balance due on the Note after allowing all credits to the Defendants is in the sum of$156,074.67 plus interest at the rate of 7.75%per annum calculated through December 1, 2007, and $610.23 for late charges, $61.00 for fees, $703.53 for escrow advances;plus $200.00 for reports of title and $850.00 for attorneys fees. u--4-A Mendy Mundey, Autaoiized Signer Subscribed and sworn to before me by Mendy Mundey this 29thday of August , 2008. �Q,Ft1Atr S GA.). . J4 t �� 0,..• • ' F otary Public, State of .v LORI ANN WCSONO,Notary Public .i* 1n and for the State of Ohio My Commission Expires Jan.29, 2009 GD n Cr) .� co 7171 O •-I - G rr =r 7-1 O7 D "" COPIES TO: Scott E.Lehnert Steven G.Klesner 1413 Kenai Court PO Box 3400 Coralville,IA 52241 Iowa City,IA 52244 Attorney for Scott E. Lehnert Dawn M.Lehnert Steven G.Klesner 1413 Kenai Court PO Box 3400 Coralville,IA 52241 Iowa City,IA 52244 Attorney for Dawn M. Lehnert University of Iowa Community Credit Union a/k/a U of Robert S.Michael I Community Credit Union PO Box 1757 by serving an Officer or Manager, 1151 2nd Street Iowa City,IA 52244-1757 Coralville,IA 52241 Attorney for University of Iowa Community Credit Union a/k/a U of I Community Credit Union City of Coralville Attorney for City of Coralville do City Clerk, 1512 7th Street Coralville,IA 52241 City of Iowa City Eleanor M.Dilkes c/o City Clerk,410 E.Washington Street 410 E.Washington St. Iowa City,IA 52240 Iowa City,IA 52240-1826 Attorney for City of Iowa City City of North Liberty Attorney for City of North Liberty do City Clerk,5 E. Cherry Street North Liberty,IA 52317 Parties in Possession 1413 Kenai Court Coralville,IA 52241 PROOF OF SERVICE The undersigned certifies that the foregoing instrument was served upon all parties to the above cause to each of the attorneys of record herein at their respective addresses disclosed on the pleadings on /GJ ,2051-by: Mail P FAX P Hand Delivered D Overnight Courier - cm D Federal Express P Other: 9 Zai cn Signature: Pfi<7 "I - r- in m v - #577655 END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE • PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540 •(319)356-6030 PLAINTIFF: POGGENPOHL, JOHN Docket No 08-06650 State IOWA _.J vs. Court No SCSC072415 7 County [JOHNSON J DEFENDANT: CITY OF IOWA CITY, LEGAL& FIN/ Ref No ] Received 10/30/2008 Requestor(s) Phone ADVANCE FEES PAID POGGENPOHL,JOHN (319) 887-1061 Name ;CITY OF IOWA CITY, LEGAL&FINANCIAL Party Type DEFENDANT Address 410 E WASHINGTON ST IOWA CITY IA !2240- I Phone 1- E-Mail T_ Fax - Employer 7 Zone Comments 7 Documents Document Serve by Date OE PSR Description/Special Instructions SMALL CLAIMS ORIGINAL I 'NOTICE Service Information Attempts Log 1 Date Time Server Notes Date ) I Time Type Cit*'( Coy!. Party MaNr1.0in )Cia(r Relationship L' %`< (`Q( �G Race Sex r DOB Location \, r - tis 1,frtcli,0,1 Miles Fee Officer ).1 Notes: • • V3 0 I c— �r A 17 D Printed:Thursday,October 30,2008 Page 1 of 1 et:y.iiir.S.rvel...wa. .._ ...�:�,so.,..:::,..:�:::i.'a:.ce.v..::��r_�:.. a.r�:._.t.:�..:.r3+..a s....,+L.:a• - - 'c�.�riw.e.-- ero+i. :s..s4a:oy-� - .................��:.�n...a.t�.r ..:N...:.:: . • MONEY CLAIM i . Original Notice Small Claims(Action for Money Judgment) F " IN 1.1.E IOWA DISTRICT COURT _ . -- - IN AiND FOR JOHNSON COUNTY, IOWA 7T? NOV _3 p�} I: 59 =.) (Small Claims Division) _ ORIGINAL NOTICE ,(--- •--/ - �. ICITY CLERK IOWA CITY, IOWA -- 1 Small Claim No. SCSCO _7 � ` *. Joi-1,0 P 6 c r-./u T o i- L airy- r f- .S-,c.vA G i ` L e6Igt. (`•AiA.uc,,l a Plaintiffs) --� Defendant(s) P i o?1 S• Ri.i`e-c uv 'DR-4400 410 - ASF'!iikX,7-4/3 S - % Address of said Plaintiff Address of said Defendant t k�;.� 4Cir% , X043 f JZJ,q ( -ep - J2 ) - i f.• 5 : t(k ,3-69 (--1-o TO THE ABOVE NAMED DEFENDANT(S): -. YOU ARE HEREBY NOTIFIED that the plaintiff(s)demands)from you the amount of S .rte 4 plus court costs,based on C_ rrru-k rev if.. e. c-,,ccJdt-i-d- jh,-r_h c x) Gti. .A4 70 -c. '' 4' (State briefly the basis for the demand) gi; ,-;i„ Dlz.i)G o,..) q-a 3'•O E ,, T & Ac-::a -i- G,�=tt�'Kicf res c -(4- al c�- h •1� 5 Sy.cyl zl ce;) 1v S 4ree j' :" it,e_ ( SC.'-I'i l c- /k:i ...4c,t.t.-r't bre r- R>�: µ c f� 4 C , Y Y SSS` GLS/P tslc�•7S t m�icC�" T7'c�ccvrwrf �,bi� Cca qv'->;i l.� :. m--1?iSCCx.-S -tc'- Js .C-e <as'i1' W. e,..)MI /e col eCtlek+j;044: / rp'[ t !/C=EOLI" C' ,! 7 � 1 UNLESS YOU APPEAR by completing tfie attached Appearance and Answer form with the � /ud j , A. clerk of the court at the Johnson County Courthouse,in Iowa City, Iowa 52244,within 20 days after Y: /tet E service of this notice upon you,judgment shall be entered against you upon plaintiff's claim together ei . les 1• with interest and court costs. e IF YOU DENY THE CLAIM AND APPEAR by filing the attached Appearance and Answer 5 ils within 20 days after service of this notice upon you,you will then receive notification from the clerk's office of the place and time assigned for hearing. . X Q S ,20,5i- `�. ;`mac i 11i 70 -.. vr....e_C:� -j . - l`f0 Si re ofPlaintiff(s�)� or Attorney for Plaintiff(s) Address(if different than above) 1. Plaintiff(s)Phone No. 3iq-ge7 ieDAl P: JUDGMENT ENTRY t. I. IT IS HEREBY ORDERED THAT JUDGMENT BE ENTERED AGAINST THE DEFENDANT(S) 1 Plaintiff(s) In the amount of$ with interest at the rate of %from the day of ,A.D.,20 and Attorney Fees in the amount of$ plus court costs in the amount of$ l IT IS FURTHER ORDERED that the foregoing judgment be paid at the rate of$ per t (month) (week)commencing . Dated this day of ,A.D., 20 Date: ic Mailed to: k (Magistrate) (Clerk of Court, Johnson County, Iowa) Bond On Appeal $ 5 a BY: _ Clerk's Office Personnel Responsible for Mailing ,wan-...,..,.: :o ..-frv„,rrt-,=t”.,r.,rxe-p: r.�r7.-,.:,r-hc ersdet*c --r_Y`r--z-.e,,^_nrs -wro—..... ..n-rszfouer.- -,v,,,,-�.nsa-,^.y.c?g :rtl9:-,?a+s., ",,-- CC- : ,.CG : r 7 •• 4. - APPEARANCE AND ANSWER OF DEFENDANT IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY, IOWA Plaintiff(s) (Name) ) (Address) ) Appearance and Answer of Defendant VS. } SCSCO Defendant(s) (Name) ) (Address line 1) ) p 3 (fill in house#,apt#,street,p.o.box,etc.) (Adress line 2) ) `} w r- (fill in city,state, &zip code) l y C Y -,: O (Name) •) (Address line 1) ) (fill in house#,apt#,street,p.o.box,etc.) (Adress line 2) •) (fill in city,state, &zip code) Daytime Phone Number: I HEREBY enter my appearance and Deny I Admit (circle one) the claim of the Plaintiff(s). Defendant By Attorney for Defendant • it JOHNSON COUNTY CLERK OF DIST IPI J Ifl 59 Lodema Berkley, Clerk of Court P.O. Box,2Io C!T`' C L E R I{ lodema_berkley@jb_state.ia.us Iowa City,Iowa 52244-2510 1 o INA CITY, IOWA PHONE 319.356.606o Barbara Bigelow,Supervisor TOLL FREE 877.906.0212 barbara.bigelow@jb.state.ia.us if you wish to have a hearing to argue your side of this case before a Magistrate Judge, then fill out the attached APPEARANCE AND ANSWER OF DEFENDANT form, circle the word DENY, and see that it gets to our office within the amount of time indicated on the ORIGINAL NOTICE form. If you circle the word ADMIT, a Hearing before a Magistrate will not be scheduled and a Judgment will be entered against you by default. Our office is located at 417 South Clinton Street, Iowa City, Iowa 52240. If you choose to mail your Appearance and Answer form to our office by ordinary mail, our address is: SMALL CLAIMS CLERK P O BOX 2510 IOWA CITY IA 52244-2510 If you wish to settle this Small Claim, please contact the Plaintiff, or their Attorney, as soon as possible, so that a DISMISSAL is filed with our office before the time period shown on the ORIGINAL NOTICE has passed. If-you have any questions please call our office at: (319) 356-6060 ext. 5, between 8 a.m. and 4:30 p.m. on Monday through Friday, except Holidays. PLEASE NOTICE: Our office will notify you by ordinary mail of the date and time of the hearing. PLEASE WRITE YOURCORRECT MAILING ADDRESS ON THE APPEARANCE AND ANSWER OF DEFENDANT form. This is the exact address that your Hearing Notice will be mailed to. Also, please indicate a phone number that you can be reached at during our office hours. If you require the assistance of auxiliary aids or services to participate im court because of a disability, immediately call your district ADA coordinator at 1-319-398-3920, Ext. 1100. (If you are hearing impaired, I call Relay Iowa TTY at 1-800-735-2942) END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE • PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540•(319) 356-6030 PLAINTIFF: WELLS FARGO BANK Docket No 08-06672 _1 State IOWA vs. Court No EQCV069893 County JOHNSON 1 DEFENDANT: WHITE, CHERYL E Ref No Received 11/03/2008 DEFENDANT: WHITE, CHERYL E. SPOUSE OF DEFENDANT: PARTIES IN POSSESSION DEFENDANT: CITY OF IOWA CITY Requestor(s) Phone ERICKSON,DAVID M (515) 288-2500 Name (CITY OF IOWA CITY — Party Type DEFENDANT Address 410 E WASHINGTON ST i IOWA CITY IA 2240- I Phone (319)356-5030 E-Mail I Fax Employer I Zone Comments Documents Document Serve by Date OE PSR Description/Special Instructions ORIGINAL NOTICE AND 111 PETITION — Service Information Attempts Log •1 Date Time Server Notes Date ) I '7_3 Time } Cag ` Gn LType «� Party 0 I1 )(--Cir,( Relationship C-,-kms �S� .Q i' lc Race C- Race Sex F DOB �- Location 1\ c C - �.S\n C�I� o � � � Miles Fee Officer t Notes: O -41 w 7- -(r- in -o o 77. tfi Printed:Monday,November 03,2008 Page 1 of.1 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY WELLS FARGO BANK,N.A. SUCCESSOR BY ) EQUITY NO. EQ Qx! D(o"t MERGER WITH WELLS FARGO HOME ) MORTGAGE,INC. F/K/A NORWEST ) MORTGAGE,INC, ) Plaintiff, ) ORIGINAL NOTICE vs. ) CHERYL E. WHITE, SPOUSE OF CHERYL ) i P=- E. WHITE, CITY OF IOWA CITY, IOWA, ) - n w 9dl and PARTIES IN POSSESSION, ) Defendants. ) > '.n TO THE ABOVE-NAMED DEFENDANT: City of Iowa City,Iowa You are notified there was on the day of 2008 filed in the office of the Clerk of the above-named Court,a Petition,copies of whi are attached hereto. The Plaintiffs attorney is David M. Erickson,whose address is The Davis Brown Tower, 215 10th Street,Suite 1300,Des Moines,Iowa 50309-3993,Phone: (515)288-2500,Facsimile: (515)243- 0654. You must,within 20 days after service of this Original Notice upon you,serve, and within a reasonable time thereafter,file a motion or answer,in the Iowa District Court for Johnson County, at the county courthouse in Iowa City, Iowa. If you do not,judgment by default may be rendered against you for the relief demanded in the petition. If you require the assistance of auxiliary aids or services to participate in court because of a disability,immediately call your district ADA coordinator at 319-398- 3920. (Ifou are hearing impaired,call Relay Iowa TTY at 1-800-735-2942.) X 11 O� LODEMA B RKL,EY /14"-Orizec, Cler f the above Court Johnson County Courthouse Iowa City, Iowa IMPORTANT YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS. C& G/r/ 2 • • IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY WELLS FARGO BANK, N.A. SUCCESSOR ) E T V BY MERGER WITH WELLS FARGO ) �V ' ir HOME MORTGAGE, INC. F/K/A ) ' o„ `J` -71 -••• NORWEST MORTGAGE, INC, ) G, Plaintiff, ) FORECLOSURE PETITION . Co vs. ) ca ) CHERYL E. WHITE, SPOUSE OF CHERYL ) E. WHITE, CITY OF IOWA CITY, IOWA, ) and PARTIES IN POSSESSION, ) ) Defendants. v • O 71 "n NOTICE '0 `'' r"" m v 0 THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT RED .) TION. THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILI?OCCU R PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE '3 COURT A WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND, THE SALE WILL BE DELAYED UNTIL SIX MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS YOUR RESIDENCE BUT NOT A ONE-FAMILY OR TWO- FAMILY DWELLING. YOU WILL HAVE NO RIGHT OF REDEMPTION AFTER THE SALE. THE PURCHASER AT THE SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY PURCHASE AT THE SALE, COMES NOW the Plaintiff, Wells Fargo Bank, N.A. successor by merger with Wells Fargo Home Mortgage, Inc. f/k/a Norwest Mortgage, Inc, and respectfully states to the Court the following as its cause of action against the Defendants: #1599995 • 1. The Plaintiff, Wells Fargo Bank,N.A. successor by merger with Wells Fargo Home Mortgage, Inc. f/k/a Norwest Mortgage, Inc, elects to foreclose without redemption pursuant to Iowa Code Section 654.20. The mortgaged property which is the subject of this action is not used for an agricultural purpose. The mortgaged property is a one-family or two- family dwelling. 2. The Plaintiff, Wells Fargo Bank,N.A. successor by merger with Wells Fargo Home Mortgage, Inc. f/k/a Norwest Mortgage, Inc, is a corporation duly authorized to transact business in the State of Iowa. 3. The Defendants, Cheryl E. White and Spouse of Cheryl E. White, maybe a married couple and are residents of Johnson County, Iowa. =i w r' 4. Pursuant to Affidavit of Surviving Spouse for Change of title to Real tstate dAted November 19, 2002 and filed November 21, 2002 with the Johnson County Recorder}n Book, -3 3426, Page 550, Billy Ray White died October 19, 2002. 5. The Defendant, City of Iowa City, Iowa, is joined as a party to this action because it may claim some right, title or interest in the property which is the subject of this action including but not limited to by virtue of a Mortgage in the amount of$2,400.00 dated March 25, 1999, and recorded April 6, 1999, in Book 2709, Page 57 with the Johnson County Recorder. The Defendant's rights to the property which is the subject of this action are junior to the Plaintiff. 6. The Defendants, Parties in Possession, are made parties to this cause of action because they may claim some right, title or interest in the property which is the subject of this action due to the fact that the Plaintiff is credibly informed and believes that they may be tenants 2 • • t • - t • in possession of the property the subject of this cause of action. The Defendants' rights to the property which is the subject of this action are junior to the Plaintiff. 7. On or about May 23, 1997, Billy Ray White and the Defendant, Cheryl E. White, husband and wife, executed and delivered to Norwest Mortgage, Inc., one certain Promissory Note in the principal sum of Sixty Thousand One Hundred and no/100 Dollars ($60,150.00). A copy of the Note is attached hereto as Exhibit"A" and by this reference incorporated herein. 8. To secure payment of the Note,Billy Ray White and the Defendant, Cheryl E. White,husband and wife, executed and delivered to Norwest Mortgage, Inc. one certain Purchase Money Mortgage dated 5/23/1997,which Mortgage was filed on 6/3/1997, in Book 2280, Page 287 of the Johnson County Recorder's Office,upon the following-described real estate, to-wit: o _n Lot Thirty-eight (38), Wise Addition to Iowa City, Iowa according to the recprdpd ' m plat thereof. i n 9. A copy of the Purchase Money Mortgage together with the Recorder ertiate J }'T thereon is attached hereto as Exhibit"B" and by this reference incorporated herein.> -43 10. The Mortgage and Note is a Purchase Money Mortgage and provides that in case of default the holder may declare the entire principal and the interest accrued thereon due and payable and the Mortgage may be foreclosed. 11. The Defendant, Cheryl E. White has failed to pay the Note and interest thereon as provided by the terms of the Note. 12. By reason of the failure to pay the Note and interest, the Plaintiff has elected and does hereby elect in accordance with the terms and conditions of the Note and Mortgage to declare the whole of the Note due and payable forthwith and to exercise its right to enforce 3 • t • " • ' payment of the entire Note as provided by the Note and to foreclose the Mortgage given to secure the same. 13. The unpaid balance due on the Note after allowing all credits due to the Defendants is the sum of Fifty-two Thousand Nine Hundred and 96/100 Dollars ($52,900.96), which is the principal balance,plus interest calculated at the default rate of 9% per annum from April 1, 2008. Interest accrues on the said sum at the rate of$13.04 per day. 14. In order to commence this foreclosure proceeding the Plaintiff has expended title costs of$221.00, other fees &advances of$1,185.00 and late charges of$2,190.39, to all of which sums the Plaintiff is entitled to a judgment against the property with interest at the rate of 9%per annum, costs and accruing costs including but not limited to any and all advances made by the Plaintiff for taxes, insurance,property preservation and other costs between the time of the Foreclosure Decree and the time of Sheriffs Sale, including reasonable attorney's fees. 15. The Plaintiff is the owner and holder of the Note and.Mortgage, due demand has o been made for payment, and payment has been refused. noI>_ 16. Under the terms of the Mortgage a receiver may be appointed. �a -o 17. The Plaintiff gave a Notice of Right to Cure and more than thirty (30)-As h 'e Li elapsed since the notice was given. A copy of said Notice is attached hereto as Exhibl't "C" i incorporated herein by this reference. 18. The Plaintiff hereby waives their right to a deficiency judgment. 19. Under the terms of said Note and Mortgage,the Defendant Cheryl E. White, husband and wife, agreed to pay attorney's fees and all costs in connection with the proceeding 4 to enforce or foreclose the Mortgage. Attached hereto as Exhibit"D" and incorporated herein by this reference is an Affidavit of Attorney's Fees as required by Iowa Code § 625.22. WHEREFORE, the Plaintiff, Wells Fargo Bank,N.A. successor by merger with Wells Fargo Home Mortgage, Inc. f/k/a Norwest Mortgage, Inc,prays for judgment in rem against the real estate described above, for the sum of Fifty-two Thousand Nine Hundred and 96/100 Dollars ($52,900.96), which is the principal balance, plus interest thereon at the rate of 9%per annum from April 1, 2008, such amount equaling$13.04 per day, the costs of this action, including title costs of$221.00,other fees & advances of$1,185.00, late charges of$2,190.39,reasonable attorney's fees and additional sums for continuing the abstract of title or other purposes authorized by said Note and Mortgage and by Iowa law and that said sums be declared a lien upon the premises above described from May 23, 1997,the date of the Plaintiff's Mortgage, prior and superior to any right, title, lien or interest of the Defendants or any of them therein; that the Plaintiff's Mortgage be foreclosed;that any right,title, lien or interest of the Defendants or any of them in said property be declared junior and inferior to the lien of Plaintiff's Mortgage; that a special execution issue for the sale of the mortgaged premises or so much thereof as may be necessary to satisfy the judgment including interest, costs, and accruing costs including but not limited to any and all advances made by the Plaintiff for taxes, insurance,property preservation and other costs between the time of the Foreclosure Decree and the time of Sheriff s Sale, and that from and after said sale under special execution, the right,title, lien or interest of the Defendants in and to the mortgaged premises be forever cut off,barred and foreclosed, and_, 0 the purchaser at said sale take free and clear of any right, title, lien or interest of the Def 'dants; or any of them. o . 771 m ?3 0 5 vi t • The Plaintiff further prays for a Writ of Possession to be issued under the seal of this Court, directed to the Sheriff of Johnson County, Iowa, commanding him to put the purchaser at said sale under special execution or a successor in interest in the possession of the premises; and that a receiver be appointed to take charge of the mortgaged premises during the period of foreclosure for the purpose of preserving the mortgaged premises for the benefit of all concerned. The Plaintiff further prays for such other and further relief as the Court may deem just and equitable under the circumstances. • David M. Erickson (AT0002422) The Davis Brown Tower 215 10th Street, Suite 1300 Des Moines, Iowa 50309-3993 Telephone: (515) 288-2500 Facsimile: (515) 243-0654 ATTORNEY FOR THE PLAINTIFF OF COUNSEL: DAVIS, BROWN, KOEHN, SHORS &ROBERTS, P.C. '1 The Davis Brown Tower 0 215 10th Street, Suite 1300 y=: "7'1 Des Moines, Iowa 50309-3993 n-< Telephone: (515) 288-2500 %- n-i m 0 673 D vt -.O 6 - . 6262544 IAVN-3216-V-1 23 NOTE NOTICE: THIS LOAN IS NOT. ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. MAY 23, 1997 CEDAR RAPIDS ,IOWA (Date] [City) (State) 423 DOUGLASS COURT, IOWA CITY, IA 52235 [Property Address) 1.BORROWER'S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S. $ ***60,150.0 0 (this amount is called "principal"), plus interest, to the order of the Lender. The Lender is NORWEST MORTGAGE, INC. . I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder." 2.INTEREST Interest will be charged on unpaid principal until the full amount of principal has been paid. I will pay interest at a yearly rate of 9.000 %, The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section 6(B) of this Note. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest by making payments every month. I will make my monthly payments on the FIRST day of each month beginning on JULY 1ST 1997 . I will make these payments every month until I have paid all of the principal and interest and arty other charges described below that I may owe under this Note. My monthly payments will be applied to interest before principal. If, on JUNE 01, 2027 , I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "Maturity Date." I will make my monthly payments at NORWEST MORTGAGE INC. , P.0. BOX 5137, DES MOINES, IA 503065137 or at a different place if required by the Note Holder, (B)Amount of Monthly Payments My monthly payment will be in the amount of U.S. $ 483.98 4. BORROWER'S RIGHT TO PREPAY I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a • "prepayment." When I make a prepayment, I will tell the Note Holder in writing that I am doing so. I may make a full prepayment or partial prepayments without paying any prepayment charge. The Note Holder will use all of my prepayments to reduce the amount of principal that I owe under this Note. If I make a partial prepayment, there will be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. 5. LOAN CHARGES If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (i) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (ii) any sums already collected from me which exceeded permitted limits will be refunded to me, The Note Holder may choose to make this refund by reducing the principal I owe under this Note or by making a direct payment to me. If a refund reduces principal, the reduction will be treated as a partial prepayment. 6. BORROWER'S FAILURE TO PAY AS REQUIRED (A)Late Charge for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of 15 Calendar days after the date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be 4.000:- __ % oLr, my overdue payment. I will pay this late charge promptly but only once on each late payment. —' �= t !! (B) Default i If I do not pay the full amount of each monthly payment on the date it is due, I will be in default. t� r IOWA FIXED RATE NOTE•Single Family- Fannie Mee/Freddie Mac Uniform Instrument O_? 0 -6V(IA)19303).Ol Form 3200.16 12183 cF . Amended 5/•1 r�, VMP 00) MORTGAGE FORMS-18621-7291 EXHIBIT Pap1 of IMU"Is: II Irt IIo, • (C) Notice of Default If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the full amount of principal which has not been paid and all the interest that I owe on that amount. That date must be at least 30 days after the date on which the notice is delivered or mailed to me. (D)No Waiver By Note Holder Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above, the Note Holder will still have the right to do so if I am in default at a later time. (E)Payment of Note Holder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include, for example, reasonable attorneys' fees. 7. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given to me under this•Note-willte given by delivering it or by mailing it by first class mail to me at the Property Address'above•or at.a'differenCaddress if'I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will besgiven;by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that different address. 8. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 9. WAIVERS I and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor. 'Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of dishonor" means the right to require the Note Holder to give notice to other persons that amounts due have not been paid. 10. ALLONGE TO THIS NOTE If an allonge providing for payment adjustments or for any other supplemental information is executed by the Borrower together with this Note, the covenants of the allonge shall be incorporated into and shall amend and supplement the covenants of this Note as if the allonge were a part of this Note. [Check applicable box] ❑Graduated Payment Allonge ❑Other [Specify] 0 Other[Specify] 11.UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust or Security Deed (the "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses which might result if I do not keep the promises which I make in this Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follows: Regulations (38 C.F.R. Part 36) issued under the Department of Veterans Affairs ("VA") Guaranteed Loan Authority (38 U.S.C. Chapter 37) and in effect on the date of loan closing shall govern the rights, duties and liabilities of the parties to this loan and any provisions of this Note which are inconsistent with such regulations are hereby amended and supplemented to conform thereto. IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN AGREEMENT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. / (Seal) ar (Seal) -Borrower BILLY RA WHITE -Borrower SSN: SSN:483-32-9056 (Seal) 04w/ 42 *(Seal) -Borrower CHERYL WHITE Berrower.. SSN: 5511.479 56-515 r. _ 6 [Sign Original Only] ;7 0-6V(1A) (93031.01 Pep,2 or 2 Forma 3200.18 121831 • s .7 • 6262544 IAVM-3016-V-1 1,121566 • b FILED NO. RooK 00 97JUN 3 PM 2: 1-9 GOUNTY Prepared by:NORWEST MORTGAGE, INC. , SUSAN CANTRILL 6200 AURORA AVE. , 515/334-0020 IVO jEF SUITE 405 E URBANDALE, IA 503220000 [Space Above This Line For Recording Data] MORTGAGE NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. THIS MORTGAGE("Security Instrument") is given on MAY 23, 1997 . The mortgagor is BILLY RAY WHITE AND CHERYL E WHITE, HUSBAND AND WIFE • O .� ("Borrower"). This Security Instrument is given to NORWEST MORTGAGE, INC. {7 z ,, n -,r which is organized and existing under the laws of THE STATE OF CALIFORNIA 573 , •pl whose-=' address is P.O. BOX 5137, DES MOINES, IA 503065137 ("Lender"). Borrower owes Lender th'e princip sum of SIXTY THOUSAND ONE HUNDRED FIFTY AND 00/100 Dollars (U.S. $ 60,150.00 ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on JorrE 01, 2027 This Security Instrument secures to Lender: (a)the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender the following described property located in JOHNSON County, Iowa: LOT THIRTY-EIGHT (38) , WISE ADDITION TO IOWA CITY, IOWA, ACCORDING TO THE RECORDED PLAT THEREOF; EXHIBIT 3 THIS IS A PURCHASE MONEY SECURITY INSTRUMENT. TAX STATEMENTS SHOULD BE SENT TO: NORWEST MORTGAGE INC. , P.O. BOX 5137, DES MOINES, IA 503065137 which has the address of 423 DOUGLASS COURT, IOWA CITY [Street,City], Iowa 52235 (Zip code) ("Property Address"); IOWA-Single Family•FNMA/FHLMC UNIFORM INSTRUMENT Form 3016 9/90 VMAP IMO GAGE FORMS•(800)621-29 d 6jt/9U,1 II II I 1 II II Pepe 1 of 8 tnlllele: �y I ?AGf '"_ ,?28U 287 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and • fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") for: (a)yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments or ground rents on the Property, if any; (c)yearly hazard or property insurance premiums; (d)yearly flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (f) any sums payable by Borrower to Lender, in accordance with the provisions of paragraph 8, in lieu of the payment of mortgage insurance premiums. These items are called "Escrow Items." Lender may, at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"), unless another law that applies to the Funds sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lesser amount. Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with applicable law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is such an institution)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items, Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. However, Lender may require Borrower to pay a one-time charge for an independent real estate tax reporting service used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or applicable law requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for all sums secured by this Security Instrument. If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lender at any time is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing, and, in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than twelve monthly payments, at Lender's sole discretion. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If,under paragraph 21, Lender shall acquire or sell the Property, Lender, prior to the acquisition or sale of the Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs l and 2 shall be applied: first, to any prepayment charges due under the Note; second, to amounts payable under paragraph 2; third, to interest due; fourth, to principal due; and last, to any late charges due under the Note. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall,pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time dirctly to the person owed payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this,paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:-(a) agrejes in -- 1 writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good.faith tigulien t by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate, tcrprevent the 11 enforcement of the lien; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lin to 0 this Security Instrument. If Lender determines that any part of the Property is subject to a lien which may attain pTioritysver this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take once or more of the actions set forth above within 10 days of the giving of notice. c Form 30 L) ®�VtIA) (95081 Pepe 2 01 6 Initiels: .2280 PACE 288 • • • 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the • Property insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, for which Lender requires insurance. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately prior to the acquisition. 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material impairment of the lien created by this Security Instrument or Lender's security interest. Borrower shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate information or statements to Lender(or failed to provide Lender with any material information) in connection with the loan evidenced by the Note, including, but not limited to, representations concerning Borrower's occupancy of the Property as a principal residence. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection of Lender's Rights in the Property. If Borrower fails to perform the covenants and agreements contained in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy, probate,'for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security Instrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this Security Instrument. Unless Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. 8. Mortgage Insurance, If Lender required mortgage insurance as a condition of making the loan secure by this Security Instrument, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for Any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to-, obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage insurer approved by Ikjtder. YT substantially equivalent mortgage insurance coverage is not available, Borrower shall pay to Lender each month a sum equal 14,1 one-twelfth of the yearly mortgage insurance premium being paid by Borrower when the insurance coverage-spied oreased be in effect. Lender will accept, use and retain these payments as a loss reserve in lieu of mortgage insuriricy. Loss)reserve %' Form 'IP ; 'f'I ®6V(IAt 195061 Pape 3 of 6 Initials. 2280 ?AU 289 payments may no longer be required, at the option of Lender, if mortgage insurance coverage(in the amount and for the period • that Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law, 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. 10. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in connection with any condemnation or other taking of any part of the Property, or for conveyance in lieu of condemnation, are hereby assigned and shall be paid to Lender. In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the taking, unless Borrower and Lender otherwise agree in writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and(c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without that Borrower's consent. 13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower, If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class snail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to • Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15. Governing Law; Severability. This Security Instrument shall be governed by federal law and_the law 0,the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrurrleitt or the f ote conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Note Which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. t 7.— 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instntmcnl. u" " 73 ®-6V(IA) (95081 Page 4 of 6 •' —,Initiefs: 2280 PAG[ 290 ' cD • • 17, Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it • is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person)without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law may specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrument; or(b)entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a)pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under paragraph 17. 19. Sale of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity(known as the "Loan Servicer") that collects monthly payments due under the Note and this Security Instrument. There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 14 above and applicable law. The notice will state the name and address of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other information required by applicable law. 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances on or in the Property, Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or is notified by any governmental or regulatory authority, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. As used in this paragraph 20, "Hazardous Substances" are those substances defined as toxic or hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in this paragraph 20, "Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided injhis paragraph 21, including, but not limited to, reasonable attorneys' fees and costs of title evidence. 0 •.,. 22. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Seciir-ity Instr>ilment""f without charge to Borrower. t "� f� lJ <F.urm 3016 91:0 CI)-6V(IA)(9608) Pape 6 01 6 ..--ifbi . Ntinis,+ irI 2280 'AGE 291 CD • • • • 23. Waivers. Borrower relinquishes all right of dower and waives all right of homestead and distributive share in and to • the Property. Borrower waives any right of exemption as to the Property. 24. Redemption Period. If the Property is less than 10 acres in size and Lender waives in any foreclosure proceeding any right to a deficiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to 6 months. If the court finds that the Property has been abandoned by Borrower and Lender waives any right to a deficiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to 60 days. The provisions of this paragraph 24 shall be construed to conform to the provisions of Sections 628.26 and 628.27 of the Code of Iowa. 25. Riders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s)were a part of this Security Instrument. [Check applicable box(es)] ❑Adjustable Rate Rider E Condominium Rider ❑ 1-4 Family Rider n Graduated Payment Rider El Planned Unit Development Rider n Biweekly Payment Rider Balloon Rider Rate Improvement Rider Second Home Rider ®n VA Rider ❑Other(s) [specify] BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any rider(s)executed by Borrower and recorded with it. ,� Witnesses: (Seal) BILLY RAY ITE -Borrower �g ' (Seal) CHWHITE -Borrower (Seal) '(Seal) -Borrower -B9rrower.r1 1 r—"— STATE OF IOWA, LIMN r--County ss: `- w -: j 71 Iil On this 23RD day of MAY , 1997 , before me, a Notary Public in diatate q Iowa,'' personally appeared BILLY RAY WHITE AND CHERYL E WHITE, HUSBAND AND WIFE 0 , to me personally known to be the person(s)named in and who executed the foregoing instrument, and acknowledged that THEY executed the same as THEIR voluntary act anddeed. My Commission Expires: 6_(7_ 9.1 n` Q t`\ /A-` otary Public in and for said County and Stat • -6V(IA)196061 Pepe 6 of 6 Form 3016 9190 2280 ?AGE 292 • • 00059118721 P.O. Box 1225 Charlotte, NC 28 201-1 225 July 6, 200k 0001391/472(1.V30 Orr 8I LLY RAY WHITE n j """fl CHERYL E WHITE '}--1 ,a,.. 423 DOUGLASS CT 1 IOWA CITY IA 522480 trn -(1 a rJ CD0 Dear Borrower(s): RE: Loan Number 6262544 Our records indicate that your loan is in default. Unless the payments on your loan can be brought current by August 5, 200R, it will become necessary to accelerate your Mortgage Note and pursue the remedies provided for in your Mortgage or Deed of Trust. The total delinquency against your account as of today's date is as follows: Past Due Payments $ 1,938.81 Late Charge Balance $ 2,139.65 Other Fees $ 0.00 Suspense Balance - $ 0.00 Total Delinquency as of 07/06/08 $ 4,078.46 Payments due in next 30 days $ 646.27 Total due to cure default and bring loan current as of August 5, 2008 $4,724.73 Your failure to pay this delinquency, plus additional payments and fees that may become due, will result in the acceleration of your Mortgage Note. Once acceleration has occurred, a foreclosure action, or any other remedy permitted under the terms of your Mortgage or Deed of Trust, may he initiated. You have the right to reinstate your Mortgage Note and Mortgage or Deed of Trust after acceleration. However, any future negotiations attempting to reinstate your loan or any payment of less than the full amount due shall not constitute Wells Fargo Bank, N.A.'s waiver of the acceleration unless agreed to, in writing, by Wells Fargo Bank, N.A. and may he returned. If foreclosure is initiated, you will have the right to refute the existence of a default or offer any other defense to acceleration you may deem appropriate. You have the right to bring a court action to assert the non-existence of a default or any other defense you may have to acceleration and sale. To avoid the possibility of acceleration you must pay $4,078.46 By July 31, 2008, 2:00 P.M. Central Time $4,724.73 By August 5, 200R, 2:00 P.M. Central Time in CERTIFIED funds, to Wells Fargo Home Mortgage, 1 Home Campus, X2302-04A, Des Moines, IA 50328. If funds are not received by the above stated time, we will proceed with acceleration. We are required by Federal Law to notify you of the availability of government approved home ownership counseling agencies designed to help homeowners avoid losing their home. To obtain a list of approved counseling agencies for your state please call 1-800-569-4287. We urge you to give this matter your immediate attention. EXHIBIT If you would like to discuss the present condition of your loan, or if we can he of further assistance, please call our Loan Service Representatives at 1-R00-551-9ROR, Monday through Friday from R:00 a.m. to R:00 p.m. Central Time. This communication is an attempt to collect a debt and any information obtained will be used for that purpose. However, if you have received a discharge of this debt in bankruptcy or are currently in a bankruptcy case, this notice is not intended as an attempt to collect a debt and, this company has a security interest in the property and will only exercise its rights as against the property. Sincerely, Wells Fargo Home Mortgage Default Management Department O o o -cam i ri .�X N CD C:) IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY WELLS FARGO BANK,N.A. SUCCESSOR ) EQUITY NO. BY MERGER WITH WELLS FARGO ) HOME MORTGAGE, INC. F/K/A ) NORWEST MORTGAGE, INC, ) ) Plaintiff, ) ATTORNEY'S FEE AFFIDAVIT ) vs. ) ) CHERYL E. WHITE, SPOUSE OF CHERYL ) E. WHITE, CITY OF IOWA CITY, IOWA, ) and PARTIES IN POSSESSION, ) O 74 Defendants. ) ➢; -� ..-1 HT1 s STATE OF IOWA ) 'J ) ss: o COUNTY OF POLK ) I,David M. Erickson,being first duly sworn on oath, hereby depose and state that I am a member of the firm of Davis,Brown, Koehn, Shors &Roberts, P.C., the attorneys for the Plaintiff in the above-entitled cause; that the Note and Mortgage sued upon herein are in my possession as attorney for the Plaintiff; that I have read the foregoing Petition and am familiar with the contents thereof, and the allegations contained therein are true as I verily believe. I further depose and state that I am a regularly practicing attorney in the Courts of the State of Iowa;that the attorney's fees prayed for herein are for services rendered and to be rendered by me as attorney for the Plaintiff in this action; that there has been no agreement, EXHIBIT"D" #577658 express or implied between me and any other person or persons except other practicing attorneys engaged with me in this action, for a division or sharing of the a • s fees prayed for herein. I I I P David M. Erickson Subscribed and sworn to before me this day of , 2008. 4.k....— Notary Publ. , State of Iowa 2, * Commission th"•D O 0 C7-< -i O LJ J :G; rri — o e '. o 0 2 END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE • PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540 • (319) 356-6030 PLAINTIFF: US BANK NATIONAL ASSOCIATION Docket No r08-00007 ! State 110WA vs. Court No EQCV068831 County JOHNSON _ DEFENDANT: SCHNOWSKE, BRADLEY A Ref No I Received 01/02/2008 Requestor(s) Phone ERICKSON,DAVID M (515) 288-2500 Name (CITY OF IOWA CITY Party Type DEFENDANT Address 1410 E WASHINGTON ST C/O MAYOR OF CITY CLERK IOWA CITY IA 52240- Phone 1(319) 356-5030 E-Mail 1. Fax C Employer Zone E -J Comments Documents Document Serve by DateOE PSR Description/Special Instructions !ORIGINAL NOTICE AND 1 ❑ ❑ L 1PETITION _ Service Information Attempts Log ic Date Time Server Notes ' Date I C�7 Time 17 3l'5 Type L `t [r) �� I Party r1nCZv ila6\ Cf ,tr Relationship ( * r ( CIC K Race LIZ Sex r DOB Location ( c E wA611 I fv1q 1C1\ Miles ` Fee Officer Notes: N O O x� C) ' '' c.? t.o Printed:Wednesday,January 02,2008 Page 1 of 1 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY US BANK NATIONAL ASSOCIATION, AS ) EQUITY NO. 64CV°(o883 I TRUSTEE FOR STRUCTURED ASSET ) INVESTMENT LOAN TRUST,2006-3, ) ) Plaintiff, ) ) ORIGINAL NOTICE vs. ) ) BRADLEY A. SCHNOWSKE, SPOUSE OF ) BRADLEY A. SCHNOWSKE, MORTGAGE ) �' ELECTRONIC REGISTRATION SYSTEMS, ::-._-_-t INC. AS NOMINEE FOR EQUIFIRST CORPORATION, IOWA CITY, and PARTIES IN =10 ro POSSESSION, r-n -v En ;c' Defendants. D C.) TO THE ABOVE-NAMED DEFENDANT:/l �� Iowa City You are notified there was on the T --day of bee pjy,h.e.r-,2007 filed in the office of the Clerk of the above-named Court,a Petition,copies of which are attached hereto. The Plaintiff's attorney is David M. Erickson, whose address is The Financial Center, 666 Walnut Street, Suite 2500, Des Moines, Iowa 50309-3993, Phone: (515)288-2500, Facsimile: (515)243-0654. You must,within 20 days after service of this Original Notice upon you, serve, and within a reasonable time thereafter, file a motion or answer, in the Iowa District Court for Johnson County, at the county courthouse in Iowa City, Iowa. If you do not,judgment by default may be rendered against you for the relief demanded in the petition. If you require the assistance of auxiliary aids or services to participate in court because of a disability,immediately call your district ADA coordinator at 319-398- 3920 x 1'05. (If you are hearing impaired,call Relay Iowa TTY at 1-800-735-2942.) 1100 LODEMA BERKLEY &ard-4‘AA,J2,c4-/eC ')4,2gAris Cler f the above Court Johnson County Courthouse Iowa City, Iowa IMPORTANT YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS. f.0 : CM (evr on(U #577658 "Pi Y /�a� , IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY o Q US BANK NATIONAL ASSOCIATION, AS ) EQUITY NO. > TRUSTEE FOR STRUCTURED ASSET ) 1 INVESTMENT LOAN TRUST, 2006-3, ) IT T' 171 Plaintiff, ) ) FORECLOSURE PETITION> vs. ) ) BRADLEY A. SCHNOWSKE, SPOUSE OF ) BRADLEY A. SCHNOWSKE, MORTGAGE ) ELECTRONIC REGISTRATION SYSTEMS, o `.' INC. AS NOMINEE FOR EQUIFIRST a2' rh CORPORATION, IOWA CITY, and G -17 PARTIES IN POSSESSION, r--� Defendants. -{ =" 00 NOTICE THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION. THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE COURT A WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND,THE SALE WILL BE DELAYED UNTIL SIX MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS YOUR RESIDENCE BUT NOT A ONE-FAMILY OR TWO- FAMILY DWELLING. YOU WILL HAVE NO RIGHT OF REDEMPTION AFTER THE SALE. THE PURCHASER AT THE SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY PURCHASE AT THE SALE. COMES NOW the Plaintiff, US Bank National Association, as Trustee for Structured Asset Investment Loan Trust, 2006-3, and respectfully states to the Court the following as its cause of action against the Defendants: N1478264 ti 1. The Plaintiff, US Bank National Association, as Trustee for Structured Asset Investment Loan Trust, 2006-3, elects to foreclose without redemption pursuant to Iowa Code Section 654.20. The mortgaged property which is the subject of this action is not used for an agricultural purpose. The mortgaged property is a one-family or two-family dwelling. 2. The Plaintiff, US Bank National Association, as Trustee for Structured Asset Investment Loan Trust, 2006-3, is a corporation duly authorized to transact business}the Ste CO 5'n L of Iowa. --n 3. The Defendants, Bradley A. Schnowske and Spouse of Bradley A. Sslii- vske, 1-1 Tl n v may be a married couple and are residents of Johnson County, Iowa. l w ?j 4. The Defendant, Mortgage Electronic Registration Systems, Inc. as nominee MI EquiFirst Corporation, is joined as a party to this action because it may claim some right, title or interest in the property which is the subject of this action including but not limited to by virtue of mortgage recorded January 23, 2006 in Book 3985, Page 162 in the amount of$25,000.00 of the Johnson County Recorder's Office. The Defendant's rights to the property which is the subject of this action are junior to the Plaintiff. 5. The Defendant, Iowa City, is joined as a party to this action because it may claim some right, title or interest in the property which is the subject of this action including but not limited to by virtue of judgment entered October 1, 2007 in the amount of$89.60 in ICSTIC179189 of the Iowa District Court in and for Johnson County. The Defendail rigl to the property which is the subject of this action are junior to the Plaintiff, T `-' ��J 0(1 ' T 6. The Defendants, Parties in Possession, are made parties to this caus actirn because they may claim some right, title or interest in the property which is the sut of tfils 2 ♦ y action due to the fact that the Plaintiff is credibly informed and believes that they may be tenants in possession of the property the subject of this cause of action. The Defendants' rights to the property which is the subject of this action are junior to the Plaintiff. 7. On or about 1/18/2006, the Defendant, Bradley A. Schnowske, executed and delivered to Mortgage Electronic Registration Systems, Inc. as nominee for EquiFirst Corporation, one certain Promissory Note in the principal sum of One Hundred Thousand and no/100 Dollars ($100,000.00). A copy of the Note is attached hereto as Exhibit "A" and by this reference incorporated herein. 8. To secure payment of the Note, the Defendant, Bradley A. Schnowske, executed and delivered to Mortgage Electronic Registration Systems, Inc. as nominee for EquiFirst Corporation one certain Purchase Money Mortgage dated 1/18/2006, which Mort5ge waled n on 1/23/2006, in Book 3985, Page 144 of the Johnson County Recorder's Office, uprithe following-described real estate, to-wit: m Lot 14, Block 3, Fair Meadows Second Unit to Iowa City, Iowa. ca co 9. A copy of the Purchase Money Mortgage together with the Recorder's Certificate thereon is attached hereto as Exhibit "B" and by this reference incorporated herein. 10. On or about 12/1/2007,Mortgage Electronic Registration Systems,Inc. as nominee for EquiFirst Corporation sold, assigned and delivered to US Bank National Association, as Trustee for Structured Asset Investment Loan Trust, 2006-3 the Note and Mortgage referred to herein as Exhibits"A" and "B". Said Assignment was in writiftg :C :-) GThr? -71 0 LQ O 3 -4 n 1 11. The Mortgage and Note is a Purchase Money Mortgage and provides that in case of default the holder may declare the entire principal and the interest accrued thereon due and payable and the Mortgage may be foreclosed. 12. The Defendant, Bradley A. Schnowske, has failed to pay the Note and interest thereon as provided by the terms of the Note. 13. By reason of the failure to pay the Note and interest, the Plaintiff has elected and does hereby elect in accordance with the terms and conditions of the Note and Mortgage to declare the whole of the Note due and payable forthwith and to exercise its right to enforce payment of the entire Note as provided by the Note and to foreclose the Mortgage jj'l to ;- secure the same. c Cr-) N _ _i n , 14. The unpaid balance due on the Note after allowing all credits due toCtie-• ca �1 Defendants is the sum of Ninety Eight Thousand seven hundred forty seven and 44/100 Dors ($98,747.44), which is the principal balance,plus interest calculated at the default rate of 7.9% per annum from 7/1/2007. Interest accrues on the said sum at the rate of$21.31 per day. 15. In order to commence this foreclosure proceeding the Plaintiff has expended title costs of$195.00, escrow advances of$63.43, and late charges of$109.02, to all of which sums the Plaintiff is entitled to a judgment against the property with interest at the rate of 7.9% per annum, costs and accruing costs including but not limited to any and all advances made by the Plaintiff for taxes, insurance, property preservation and other costs between the time of the Foreclosure Decree and the time of Sheriff's Sale, including reasonable attorney's ft* ("71 T r") 16. The Plaintiff is the owner and holder of the Note and Mortgage, durnan haste been made for payment, and payment has been refused. `ice C7 Qo 4 17. Under the terms of the Mortgage a receiver may be appointed. 18. The Plaintiff gave a Notice of Right to Cure and more than thirty (30) days have elapsed since the notice was given. A copy of said Notice is attached hereto as Exhib.'t "C" �:.. incorporated herein by this reference. 19. The Plaintiff hereby waives their right to a deficiency judgment. �' T -L, irz 7) 20. Under the terms of said Note and Mortgage,g e, the Defendant, Bradley : g - - w Schnowske, agreed to pay attorney's fees and all costs in connection with the proceeding to`•° enforce or foreclose the Mortgage. Attached hereto as Exhibit "D" and incorporated herein by this reference is an Affidavit of Attorney's Fees as required by Iowa Code § 625.22. WHEREFORE, the Plaintiff, US Bank National Association, as Trustee for Structured Asset Investment Loan Trust, 2006-3,prays for judgment in rem against the real estate described above, for the sum of Ninety Eight Thousand seven hundred forty seven and 44/100 Dollars ($98,747.44), which is the principal balance, plus interest thereon at the rate of 7.9% per annum from 7/1/2007, such amount equaling$21.31 per day, the costs of this action, including title costs of$195.00, escrow advances of$63.43, late charges of$109.02, reasonable attorney's fees and additional sums for continuing the abstract of title or other purposes authorized by said Note and Mortgage and by Iowa law and that said sums be declared a lien upon the premises above described from 1/18/2006, the date of the Plaintiff's Mortgage,prior and superior to any right, title, lien or interest of the Defendants or any of them therein; that the Plaintiff's Mortgage be foreclosed; that any right, title, lien or interest of the Defendants or any of them in saidpropeerty D be declared junior and inferior to the lien of Plaintiffs Mortgage; that a special exeon i�ue C-) for the sale of the mortgaged premises or so much thereof as may be necessary to §alify ?c7 a rn Q 0 to 5 v = judgment including interest, costs, and accruing costs including but not limited to any and all advances made by the Plaintiff for taxes, insurance, property preservation and other costs between the time of the Foreclosure Decree and the time of Sheriff's Sale, and that from and after said sale under special execution, the right, title, lien or interest of the Defendants in and to the mortgaged premises be forever cut off, barred and foreclosed, and the purchaser at said sale take free and clear of any right, title, lien or interest of the Defendants or any of them. The Plaintiff further prays for a Writ of Possession to be issued under the seal of this Court, directed to the Sheriff of Johnson County, Iowa, commanding him to put the purchaser at said sale under special execution or a successor in interest in the possession of the premises; and that a receiver be appointed to take charge of the mortgaged premises during the peed of o foreclosure for the purpose of preserving the mortgaged premises for the benefit of1I121 N ;— concerned. concerned. The Plaintiff further prays for such other and further relief as the Court maneem just W lO and equitable under the circumstances. David M. Erickson (PIN# AT0002422) The Financial Center 666 Walnut Street, Suite 2500 Des Moines, Iowa 50309-3993 Telephone: (515) 288-2500 Facsimile: (515) 243-0654 -r-- n cD ATTORNEY FOR THE PLA IFFC (, i -7-t (--)— (=J54 — �� x'• r r •4317'4 cs• 6 ti OF COUNSEL: DAVIS, BROWN, KOEHN, SHORS & ROBERTS, P.C. The Financial Center 666 Walnut Street, Suite 2500 Des Moines, Iowa 50309-3993 Telephone: (515) 288-2500 O 0 n r 7Tl ( ) r o �-- rr: UZI 7 i • ADJUSTABLE RATE NOTE MIN IW?ttalOW88991G1E (LIBOR Index-Rate Caps) THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANCES IN MY INTEREST RATE AND MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT Ml'INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM AND MINIMUM RA'fF.I MUST PAY. January 18,2006 Iowa City IA (Dale) (City) ISuite) 2316 Hollywood Boulevard,Iowa City,IA 52240 (Property Address) 1.BORROWER'S PROMISE TO PAY In return for a loan that I have received,l promise to pay U.S.S 100,000.00 (this amount is called "principal"), plus interest,to the order of the Lender. The Lender is EquiFirst Corporation. 1 will make all payments under this Note in the form of cash,check or money order. I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the"Note Holder." 2.INTEREST Interest will be charged on unpaid principal until the full amount of principal has been paid. I will pay interest at a yearly rate of 7.900%. The interest rate I will pay may change in accordance with Section 4 of the Note. The interest rate required by this Section 2 and Section 4 of this Note is the rate 1 will pay both before and after any default described in Section 7(B)of this Note. 3.PAYMENTS (A)Time and Place of Payments I will pay principal and interest by making a payment every month. I will make my monthly payments on the 1st day of each month beginning on March 1,2006 1 will make these payments every month until 1 have paid all of the principal and interest and any other • charges described below that 1 may owe under this Note.Each monthly payment will be applied as of its scheduled due date and will be applied to interest before principal.If on February 1,2036 , 1 still owe amounts under4his Note,I will pay those amounts in full on that date,which is called the"Maturity Date." m I will make my monthly payments at `C7 C-- EquiFirst Corporation,500 Forest Point Circle,Charlotte,NC 28273 .-- —; or at a different place if required by the Note Holder. —I—j C) 1 "71 r; ry (B)Amount of My Initial Monthly Payments rt -0 Fri Each of my initial monthly payments will be in the amount of U.S.$726.81 , a LJ This amount may change. Co :> w (C)Monthly Payment Changes Changes in my monthly payment will reflect changes in the unpaid principal of my loan and in the interest rate that 1 must pay.The Note Holder will determine my new interest rate and the changed amount of my monthly payment in accordance with Section 4 of this Note. n c_.m -? • r-rt v}'r (�rJ 1 +� EXHIBIT r= OO lct +I� Multistate Adjustable Rate Note-Libor index EF815N(2/00) (Iowa Version) Loan Number 889976 Page 1 of 4 lnitia 4. INTEREST RATE AND 1HL'I' PAYMENT CHANGES (A) Change Dates The interest rate l will pay may change on February I,2008,and on that day ever)'sixth month thereafter. Each date on which my interest rate could change is called a"Change Date." (B)The Index Beginning with the first Change Date,my interest rate will be based on an index. The"Index"is the average of interbank offered rates for six-month U.S.dollar-denominated deposits in the London market("LIBOR"),as published in The Wall Street Journal. The most recent Index figure available as of the first business day of the month immediately preceding the month in which the Change Date occurs is called the"Current Index". If the Index is no longer available,the Note Holder will choose a new index that is based upon comparable information.The Note Holder will give me notice of this choice. (C)Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding 5.230 percentage points(5,230%)to the Current index.The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point(0.125%). Subject to the limits stated in Section 4(D)below,this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D)Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 10.900%or less than 7.900%. Thereafter,my interest rate will never be increased or decreased on any single Change Date by more than one percentage point(1.000%) from the rate of interest I have been paying for the preceding six months. My interest rate will never be greater than 13.900% or less than the initial interest rate provided for in Section 2 of this Note. (E)Effective Date of Change My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F)Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question I may have regarding the notice, 5.BORROWER RIGHT TO PREPAY I have the right to make payments of principal at any time before they are due.A payment of principal only is known as a"prepayment,"When I make a prepayment,I will tell the Note Holder in writing that 1 am doing so. I may make a full prepayment or partial prepayments without paying any prepayment charge. The Note Holder will use all of my prepayments to reduce the amount of principal that I owe under this Note.If I make a partial prepayment,there will be no changes in the due dates of my monthly payment unless the Note Holder agrees in writing to those changes. My partial payment may reduce the amount of my monthly payments after the first Change Date following my partial prepayment.However,any reduction due to my partial prepayment may be offset by an interest rate increase. _ N O O K� CD MC 71 J --I C N I- i-t -0 „ W y G) 1_r_) EF8I5N '5 4 Loan Number 889976 Page 2 of 4 initials_ ti. LOAN CHARGES If a law,which applies to twan and which sets maximum loan charges,i . ally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then:(i)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit: and(if)any sums already collected from me which exceeded permitted limits will be refunded to me. 'foe Note Holder may choose to make this refund by reducing the principal I owe under this Note or by making a direct payment to me. If a refund reduces principal,the reduction will be treated as a partial prepayment. 7, BORROWER'S FAILURE TO PAY AS REQUIRED (A)Late Charge for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of 15 calendar days after the date it is due,I will pay a late charge to the Note Holder.The amount of the charge will be 5.00%of my overdue payment of principal and interest.l will pay this late charge but only once on each late payment. (B)Default If I do not pay the full amount of each monthly payment on the date it is due,I will be in default. (C)Notice of Default If I am in default,the Note holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date,the Note Holder may require me to pay immediately the full amount of principal which has not been paid and all the interest that 1 owe on that amount. That date must be at least 30 days after the date on which the notice is mailed to me or delivered by other means. (D)No Waiver Dy Note Holder Even if,at a time when I am in default,the Note Holder does not require me to pay immediately in full as described above,the Note Holder will still have the right to do so if I am in default at a later time, (E) Payment of Note Holder's Costs and Expenses If the Note Holder has required me to pay in full as described above,the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include,for example,reasonable attorneys'fees. 8.GIVING OF NOTICES Unless applicable law requires a different method,any notice that must be given to me under this Note will be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first class mail to the Note Holder at the address stated in Section 3(A)above or at a different address if I am given a notice of that different address. 9.OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note,each person is fully and personally obligated to keep all of the promises made in this Note,including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor,surety or endorser of this Note,is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 10.WAIVERS • f and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor."Presentment"means the right to require the Note Holder to demand payment of amounts due. "Notice of dishonor"means the right to require the Note Holder to give notice to other persons that amounts due have notbeen paid. J m fin ' C- •^ 0 EF8I5N Loan Number:889976 Page 3 of 4 Initial " • 11.UNIFORM SECURED N This Note is a uniform in ment with limited variations in some jurisdict In addition to the protections given to the Note Holder under this Note,a Mortgage,Deed of Trust or Security Deed(the"Security Instrument"), dated the same date as this Note,protects the Note Holder from possible losses which might result if I do not keep the promises that 1 make in this Note. 'that Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions arc described as follows: Transfer of the Property or a Beneficial Interest in Borrower.lf all or any part of the Property or any interest in the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred),without Lender's prior written consent,Lender may,at its option,require immediate payment in full of all sums secured by this Security Instrument. However,this option shall not be exercised by Lender if exercise is prohibited by Applicable Law. Lender also shall not exercise this option if (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee;and(b)Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. To the extent permitted by Applicable Law,Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full,Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. IMPORTANT:READ BEFORE SIGNING.THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE, NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN AGREEMENT MAY BE LEGALLY ENFORCED.YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. Borrower has executed and acknow edges receipt of pages 1 through 4 of this Note. WITNESS T E HAND(S)AND E•4 S)OF THE UNDERSIGNED II (Seal) (Seal) -Borrower -Borrower Bradley: "chnowske (Seal) (Seal) -Borrower -Borrower CU o rn • (Seal) (Seal. x� rTh •Bonowcr --t • i r i J c) (Seal) ( dal) -Borrower -Burrower EF8I5lA Loan Number 889976 Page 4 o(4 Initials ADJUSTABLE INTEREST RATE FLOOR Addendum to Note This ADJUSTABLE INTEREST RATE FLOOR ADDENDUM is made this 18th day of January,2006, and amends the Note in the amount of U.S. 100,000.00 dated the same date and given by the person(s) who signs below(the"Borrower(s)")to EquiFirst Corporation(the"Lender"). In addition to the agreements and provisions made in the Note and the Security Instrument, and not withstanding any provisions to the contrary contained in said Note or the Security Instrument, both the Borrower(s)and the Lender further agree as follows: ADJUSTABLE INTEREST RATE FLOOR THIS LOAN HAS AN INTEREST RATE "FLOOR" WHICH WILL LIMIT THE AMOUNT THE INTEREST RATE CAN DECREASE. REGARDLESS OF ANY CHANGES IN THE INDEX, THE INTEREST RATE DURING THE TERM OF THIS LOAN WILL NEVER BE LESS THAN THE INITIAL INTEREST RATE PROVIDED FOR IN SECTION 2 OF THE NOTE. 5L� .Al _ JI . Bradley A.Schap)'.ke N O �.J i 889976 EF069(12/99) - ��os IIIIIIII�IIIIIIIIIUIIIIIIIIIIIBIIIIIIIlllllllllIIllll1IltIIIIlllll Doc ID; 020190090018 Tvoe: OEN Recorded; 01/23/2008 at 03;33:45 PM Fee Amt: '592.00 Page I of 18 1 Johnson County Iowa Kim Painter County Recorder w<3985 Pai44151� 4y w,( q 7(0 ,,(42, <6) !Space Above This Linn For Recording Dotal Prepared By: r� o Michelle Vigil r "" 500 Forest Point Circle, Charlotte, NC 28273 ?0 c_ Y.__ )r" — lr (480)763-742B 0.-- I XReturn To: ..":71 " 1 EquiFirst Corporation _r-t•'-C , Attn: Collateral M r-� 500 Forest Point Circle •-•-1. ' Charlotte, NC 28273 Full Legal Description located on page 3 Lender name located on page 2, MORTGAGE MIN 1002001000138997618 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument"means this document, which is dated January 18, 2006 , together with all Riders to this document. (B) "Borrower" is Bradley A Schnowske, a single man O Fr; Cl) CD n r-ri c„ �'7 I .371 r f Borrower is the mortgagor under this Security Instrument. 58 `,.) -- 8B9976 —I � IOWA-Single Family-Fannie MaefFreddie UNIFORM INSTRUMENT WITH MERS Form 3016 1(01 =I-GA(1A)(0405).01 I'1 Papal of 15 IniI,.I I J - VMP Mortgage Solution',Inc,(000)521.1201 EXHIBIT 3{ L:��/ i (C) "HERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, Ml 48501-2026, tel. (888) 679-MERS. (D) "Lender"is EquiFirst Corporation Lender is a Corporation organized and existing under the laws of North Carolina Lender's address is 500 Forest Point Circle, Charlotte, NC 28273 (E) "Note" means the promissory note signed by Borrower and dated January 18, 2006 The Note states that Borrower owes Lender one hundred thousand and 00/100 Dollars (U.S. $ 100,D00.00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than February 1, 2036 . (F') "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument, plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower [check box as applicable]: Adjustable Rate Rider 0 Condominium Rider 0 Second Home Rider n Balloon Rider ❑ Planned Unit Development Rider Ell 1-4 Family Rider Ei VA Rider I Biweekly Payment Rider LxJ Other(s) [specify) ARM Floor Rider (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments"means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. (L) "Escrow Items" means those items that are described in Section 3. (M) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (N) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or-default 5 the Loan. ti C� (0) "Periodic Payment"means the regularly scheduled amount due for (i) principal and intee *dertila,aa Note, plus (ii) any amounts under Section 3 of this Security Instrument. --- , i I 889976 I --1 i .; TV Inilial�; ' '� CCP-SA(1A)(0405).01 Papaloiis Foran 616 i/0ii i D CD (P) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. Section 2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, or any additional or successor legislation or regulation that governs the same subject matter, As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. (Q) "Successor In Interest of Borrower" means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably mortgages, grants and conveys to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in the County of Johnson (Type of Recording Jurisdiction) (Name of Recording Jurisdiction) Lot 14, Block 3, Fair Meadows Addition Second Unit to Iowa City, Iowa, according to theaCin thereof. °c t ----I 0 Ra M T_ Parcel ID Number: 1024251001 which currently has the address of 2316 Hollywood Boulevard (Street) Iowa City (City), Iowa 52240 (Zip Code( ("Property Address"): TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument. BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. 889976 Inilielc� v C:i-8A(IA)(0405).01 Pepe 3 of .5 Com_ Form 301E, 1/01 • UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: I. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment cinder the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of' the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community_., B89976 �., C- C)-6A(1A)(0405).01 Pepe 4 al i5 Form 3048.; 1101 CJ Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase"covenant and agreement" is used in Section 9, If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount, Lender may revoke the waiver us to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount(a)sufficient to permit Lender to apply the Funds at the time specified under RESPA, and(b) not to exceed the maximum amount a lender can require under RESPA, Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality,or entity(including Lender, if Lender is an institution whose deposits are so insured)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. if there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA,but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any,and Community Association Dues, Fees, and Assessments,if any,To the extent that these items are Escrow Items,Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b)contests the lien in good faiij 0 889976 0� 014,6A(IA)moo.ol Pepe 5 of IC Form 3016 1q4.:::; • by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or(c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance, Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law _.a y � 889976 _ Initials. CT) t_ Pape 6 0l+s Forr�T el1 11Q1^ CVAflA)(0405).01 , w.._ 4, .' -1 1 tV - 1, W cJ • requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance and Protection sof the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless i:1 is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. if insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b)there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or C ; / r 889976 - • Inille)� Pepe 7 of 15 Fordi 30.18 1 to f _: N i F • • fr.3 CD • regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security instrument, including protecting and/or assessing the value of the Property,and securing and/or repairing the Property. Lender's actions can include, but are not limited to: (a)paying any sums secured by a lien which has priority over this Security Instrument; (b) appearing in court; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument, These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. It). Mortgage Insurance, If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, al a cost substantially equivalent to the cost to Borrower of the Mortgage insurance previously in effect, from an alternate mortgage insurer selected by Lender. if substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage(in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. if Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender(or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses,These agreements are on terms and conditions that arc satisfactory to the mortgage insurer and the other party(or parties)to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available(which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive(directly or indirectly)amounts that derive from(or might be characterized as)a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement 889976 • •S 0 a — • Initials ©•6A(IA)(o4ost.o, PeoeaoIt5 Form 3016 11Rtw;��„ yL —71 Pv Ti C..) 1 provides that an affiliate of Lender lakes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed"captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay For Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - If any - with respect to the Mortgage Insurance under the Homeowners Protection Aet of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned al the time of such cancellation or termination. 11, Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds arc hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened, During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds, If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking,destruction,or loss in value.Any balance shall be paid to Borrower. { In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party(as defined in the next sentence)offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument, Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of • 889976 1 ) . 1"obi •,CUM)M)(D105(01 Popo a of is Form 8016 1/VT CT -- • CO any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law, If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b)any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice o Borrower. Any notice in • 889976 ,__ Imllll CZ-6 A(IA)(0405).0I Page 10 of 15 Form 3 01 6 1 101 ® 1 • \S• • • • connection with this Security instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction, This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and(c)the word "may" gives sole discretion without any obligation to take any action. • 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section l8, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law, If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. if Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a)five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b)cures any default of any other covenants or agreements;(c)pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. • 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument)can be sold one or more times without prior notice to I N m 8E9976n r - (ID•6A(tA)(pwsi.o1 Pope 11&is Form 3016 1f " r\) • _J c.) ' Ca • Borrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with u notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence,join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section IS shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hu7Ardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b)"Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d)an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property(a)that is in violation of any Environmental Law,(b)which creates an Environmental Condition, or(c)which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Properly of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property(including, but not limited to,hazardous substances in consumer products). Borrower shall promptly give Lender written notice of(a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to, any spilling, leaking,discharge, release or threat of release of any Fla7ardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. 88 997 6 Imuel c„•6A(IA){4 0401 Peee of is Form 3016 1101 • • NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but nut limited to, reasonable attorneys' fees and costs of title evidence. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower relinquishes all right of dower and waives all right of homestead and distributive share in and to the Property. Borrower waives any right of exemption as to the Property. 25. HOMESTEAD EXEMPTION WAIVER. I UNDERSTAND THAT HOMESTEAD PROPERTY IS IN MANY CASES PROTECTED FROM THE CLAIMS OF CREDITORS AND EXEMPT FROM JUDICIAL SALE; AND THAT BY SIGNING THIS MORTGAGE, I VOLUNTA•ILY GIVE UP/MY 'IGHT TO THIS PROTECTION FOR THIS MORTGAGED PROPERT WITH RESPECT To CLAIMS BASED UPON THIS MORTGAGE. A. II 0/ 06 Borrower Br=•ley A. Schnowake D.tc Borrower Dote Borrower Date Borrower Date Borrower Date Borrower Date Borrower Dare Borrower Date c y ^ BB9976 _t C:)-BA(IA)(0+05).01 Page 13 o 15 Form Hie 1/94i " •_.. - " C.) CD • • • 26. Redemption Period. If the Property is less than 10 acres in size and Lender waives in any foreclosure proceeding any right to a deficiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to 6 months. If the court finds that the Property has been abandoned by Borrower and Lender waives any right to a deficiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to 60 days. The provisions of this Section 26 shall be construed to conform to the provisions of Sections 628.26 and 628.27 of the Code of Iowa. IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants conta' ed in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: • • A jr1Al // (Seal) :radley A. S. nowake -Borrower (Seal) -Borrower (Seal) (Seal) -Borrower •Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower ` N C— ( -y 869976 r I L j 0:::/•6A(IA)mos)01ForaO'1,6 1101 Pope r1 o1 15 . co 0 • STATE OF IOWA, JOHNSON County ss: On this 113thday of January, 2006 , before rne, a Notary Public in the State of Iowa, personally appeared Bradley A. Schnowske a single person to me personally known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that he/ e/•they executed the same as his/-herkheir voluntary ••• d deed My Commission Expires: at". if t(lo . or sai • stnlc rirEN C.ANDERSON • �ommiauon Numpa;15aast .omnraaranEmma r 27 nog n.� m X:— -7-1 `r"i ( ) rV r .W • GJ C7 BB9976 /yam/ 5/1 C:)•6A{IAl lwc5;01 Pegg 15 of 15 Form 3016 1101 r- • ; I 2008 JAN -2 FH 3: 40 1 Ci-1Y IOWA CllY, IOWA 001 03 0 v- E 2 E • o — Avo-co e0 0 CP 5.CO •—• ADJUSTABLE RATE RIDER'to Security Instrument (LIBOR 6 Month Index•As Published in The H'ullStreet Journal-Rate Caps) (To Be Recorded Together with Security Instrument) THIS ADJUSTABLE RATE RIDER is made this 18th day of January,2006 and incorporated into and shall be deemed to amend and supplement the Mortgage,Deed of Trust or Security Deed(the"Security Instrument") of the same date given by the undersigned(the "Borrower") to secure Borrower's Adjustable Rate Note (the "Note")to EquiFirst Corporation (the "Lender') of the same date and covering the property described in the Security Instrument and located at: 2316 Hollywood Boulevard,Iowa City,IA 52240 (property address) THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND • THE MONTHLY PAYMENT. THE NOTE LIMITS THE AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM AND MINIMUM RATE THE BORROWER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument,Borrower and Lender further covenant and agree as follows: A. INTEREST RATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 7.900%, The Note provides for changes in the interest rate and the monthly payment as follows: (A)Change Dates The interest rate I will pay may change on February I,2008 and on that day every sixth month thereafter. Each date on which my interest rate could change is called a "Change • (B)The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the average of interbank offered rates for six-month U.S. dollar-denominated deposits in the London market ("LIBOR"), as published in The !Wall Street Journal. The most recent Index figure available as of the first business day of the month immediately preceding the month is which the Change Date occurs is the"Current Index." If the Index is no longer available,the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. (C)Calculation of Changes Before each Change Date,The Note Holder will calculate my new interest rate by adding 5.230 percentage points(5.230%)to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section A(D)below,this rounded amount will be my interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D)Limits on Interest Rate Changes The interest rate 1 am required to pay at the first Change Date will not be greater than 10.900% or less than 7,900% . Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than one percentage point(s)(1.00%)the rate of interest I have been paying for the preceding six months. My interest rate will never be greater than 13.900 % or less than the initial interest rate provided for in Section 2 of this Note. 889976 EF06t I(05/02) Page 1 of 2 (T,5 • • (E)Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F)Notice of Changes The Note l'lolder will deliver or mail to mea notice of any changes in my new interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given me and also the title and telephone number of a person who will answer any question I may have regarding the notice. B.TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER Uniform Covenant 17 of the Security Instrument is amended to read as follows: Transfer of Property'or a Beneficial Interest in Borrower, If all or any pan of the Property or any interest in it is sold or transferred(or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person),without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However,this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if:(a)Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee;and(b)Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. To the extent permitted by applicable law,Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates to the transferee to keep all the promises and agreements made in the Note and in the Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. BY SIGNING BELOW,Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. -4141/Bradley A.Sc'nowske C=I oQ as J •-, 889976 EF0612(5102) Page 2 of 2 • O ADJUSTABLE INTEREST RATE FLOOR Rider to Security Instrument (To Be Recorded Together with Security Instrument) This ADJUSTABLE INTEREST RATE FLOOR RIDER is made this I 8th day of January, 2006 and amends the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") dated the same date and given by the person(s) who signs below (the "Borrowcr(s)") to EquiFirst Corporation (the "Lender") to secure repayment of a Note in the amount of U.S $ 100,000.00 . In addition to the agreements and provisions made in the Note and the Security Instrument, and notwithstanding any provisions to the contrary contained in said Note or the Security Instrument, both the Borrower(s) and the Lender further agree as follows: ADJUSTABLE INTEREST RATE FLOOR THIS LOAN HAS AN INTEREST RATE "FLOOR" WHICH WILL LIMIT THE AMOUNT THE INTEREST RATE CAN DECREASE. REGARDLESS OF ANY CHANGES IN THE INDEX, THE INTEREST RATE DURING THE TERM OF THIS LOAN WILL NEVER BE LESS THAN THE INITIAL INTEREST RATE PROVIDED FOR IN SECTION 2 OF THE NOTE. / L" � Bradley AScnowske • 889976 EF059(Rev 05/02) v 0°5 77h/ PO Box 1225 Charlotte, NC 28201 1225 11 01 11 1 I 7100 4047 5100 4138 1398 May 21, 2007 `n Om X cD OOS77erl0611.y30 rn Bradley A. Schnowske � 1 n . 2316 Hollywood Blvd. G Iowa City IA 52240 y" C—' Dear Borrower(s): RE: Loan Number 11 001 7331 7 Our records indicate that your loan is in default. Unless the payments on your loan can be brought current by June 20, 2007, it will become necessary to accelerate your Mortgage Note and pursue the remedies provided for in your Mortgage or Deed of Trust The total delinquency against your account as of today's date is as follows: Past Due Payments $ 1,790.80 Late Charge Balance $ 72.68 Other Fees $ 30.00 Suspense Balance - $ 0.00 Total Delinquency as of 05121/07 $ 1,893.48 Payments due in next 30 days $ 895.40 Total due to cure default and bring loan current as of June 20, 2007 $2,788.88 Your failure to pay this delinquency, plus additional payments and fees that may become due, will result in the acceleration of your Mortgage Note. Once acceleration has occurred, a foreclosure action, or any other remedy permitted under the terms of your Mortgage or Deed of Trust, may be initiated. You have the right to reinstate your Mortgage Note and Mortgage or Deed of Trust after acceleration. However, any future negotiations attempting to reinstate your loan or any payment of less than the full amount due shall not constitute America's Servicing Co.'s waiver of the acceleration unless agreed to, in writing, by America's Servicing Co. and may be returned. If foreclosure is initiated, you will have the right to bring a court action to refute the existence of a default or offer any other defense to acceleration you may deem appropriate. You have the right to bring a court action to assert the non-existence of a default or any other defense you may have to acceleration and sale. To avoid the possibility of acceleration you must pay $1,893.48 By May 31, 2007, 2:00 P.M. Central Time $2,788.88 By June 20, 2007, 2:00 P.M. Central Time in CERTIFIED funds, to America's Servicing Co., PO Box 1820, Newark, NJ 071 011820. If funds are not received by the above stated date, we will proceed to automatically accelerate your loan. We are required by Federal Law to notify you of the availability of government approved home ownership counseling agencies designed to help homeowners avoid losing their home. To obtain a list of approved counseling agencies for your state please call 1-800-569-4287. We urge you to give this matter your immediate attention, EXHIBIT If you would like to discuss the present condition of your loan, or if we can be of further assistance, please call our Loan Service Representatives at 800-662-5014, Mon. Fri. 8 AM - 6 PM in your time zone. The Fair Debt Collection Practices Act requires us to notify you that in the event your loan is in default, America's Servicing Co. will attempt to collect the debt and any information obtained will be used for that purpose. However, if you have received a discharge from a Chapter 7 or Chapter 13 bankruptcy, and the loan was not reaffirmed in the Bankruptcy case, America's Servicing Co. will only exercise its rights as against the property and is not attempting any act to collect the discharged debt from you personally. Sincerely, America's Servicing Co. Default Management Department r`) i TI IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY US BANK NATIONAL ASSOCIATION, AS ) EQUITY NO. TRUSTEE FOR STRUCTURED ASSET ) INVESTMENT LOAN TRUST, 2006-3, ) ) Plaintiff, ) ) ATTORNEY'S FEE AFFIDAVIT vs. ) ) BRADLEY A. SCHNOWSKE, SPOUSE OF ) BRADLEY A. SCHNOWSKE, MORTGAGE ) ELECTRONIC REGISTRATION SYSTEMS, INC. AS NOMINEE FOR EQUIFIRST CORPORATION, IOWA CITY, and PARTIES IN POSSESSION, o i --� Defendants. Z" r 6o r, STATE OF IOWA o �a ) ss: a c� COUNTY OF POLK ) I, David M. Erickson, being first duly sworn on oath, hereby depose and state that I am a member of the firm of Davis, Brown, Koehn, Shors & Roberts, P.C., the attorneys for the Plaintiff in the above-entitled cause; that the Note and Mortgage sued upon herein are in my possession as attorney for the Plaintiff; that I have read the foregoing Petition and am familiar with the contents thereof, and the allegations contained therein are true as I verily believe. I further depose and state that I am a regularly practicing attorney in the Courts of the State of Iowa; that the attorney's fees prayed for herein are for services rendered and_to be U rendered by me as attorney for the Plaintiff in this action; that there has been no agreement, EXHIBIT "D" 3 #577658 b r ' 1 .. V express or implied between me and any other person or persons except other practicing attorneys engaged with me in this action, for a division or sharing of the attorney's fees prayed for herein. i/),Dr David M. Erickson Subscribed and sworn to before me this day ofIA\\,al , 2007. V- 1-0,1,43,, Ail Notary Public, State of Iowa oaAL G aiSTEN L. MOTTET " ; Comniission Number 702027 My Commisa q Expires row' ; ' l 1 + �� O Orn —1 7 p 8-71 0 CD ''C) I -'l G �- T— pa am 2 - END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE• PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540 • (319) 356-6030 PLAINTIFF: US BANK NATIONAL ASSOCIATION Docket No 08-03619 State vs. Court No L County j 1 DEFENDANT: SCHNOEBELEN, JOHN G Ref No C Received 06/18/2008 DEFENDANT: SCHNOEBELEN, KATHLEEN M DEFENDANT: PARTIES IN POSSESSION DEFENDANT: CITY OF IOWA CITY DEFENDANT : CITY OF IOWA CITY Requestor(s) Phone BURKE,THOMAS H (515) 288-6041 Name ICITY OF IOWA CITY Party Type {DEFENDANT 1 Address '(C/O CITY CLERK X410 E WASHINGTON ST [IOWA CITY iIA ,52240 Phone (319)356-50307 E-Mail Fax L Employer Zone C Comments Documents Document Serve by Date OE PSR Description/Special Instructions ORIGINAL NOTICE AND ; , ❑ ❑ PETITION Service Information Attempts Log Date Time Server Notes Date 'CC/ —O g Time ( Type C ty G G V� yY n - Party VIA //�(A-/v l�.A-ve Relationship C c -4--5� C Race `'`J f Sex DOB ---�� Location ( 0 C t-ciAJ Lc•1~' �o ''` _ N Miles C Co Fee ( 'u% Officer 6 n � Notes: n G z m o a o Printed:Wednesday,June 18,2008 Page 1 of 1 NOTICE OF NONJUDICIAL FORECLOSURE OF NONAGRICULTURAL MORTGAGE PURSUANT TO IOWA CODE CHAPTER 655A TO: City of Iowa City,Iowa Pursuant to the following judgments: 1. That certain judgment in favor of the City of do Iowa City Clerk Iowa City/Housing as against John Gerald 410 E.Washington St. Schnoebelen and Kathleen Marie Schnoebelen Iowa City,Iowa 52240 entered in Case No.CISC057835. 2. That certain judgment in favor of the City of C Iowa City entered against John Gerald Q Schnoebelen,Case No.CISC060269 in the amount �y Y of$50.00 of costs. 0 LSUO 3. That certain judgment entered in favor of the L.11J City of Iowa City/Development Registration p� U f- Specialists as against John Gerald Schnoebelen, ›, judgment entered April 25,2006 in the amount of < $500.00,plus costs,Case No.CISC064197. � V� 0 YOVAND EACH OF YOU ARE HEREBY NOTIFIED THAT U.S.Bank National Association, successor-by-merger to First National Bank,has formally commenced a Nonjudicial Foreclosure of Nonagricultural Mortgage Pursuant to Iowa Code Chapter 655A. That attached hereto,marked Exhibit"A,"and by this reference made a part hereof,is a true and accurate copy of the Home Equity Line of Credit Agreement(in two parts)(hereinafter collectively referred to as the"Promissory Note") given by John G. Schnoebelen and Kathleen M. Schnoebelen, husband and wife, in favor of U.S. Bank National Association,successor-by-merger to First National Bank. That attached hereto,marked Exhibit"B,"and by this reference made a part hereof,is a true and accurate copy of the Consumer Home Equity Line Mortgage(hereinafter referred to as the"Mortgage")given by John G.Schnoebelen and Kathleen M.Schnoebelen,husband and wife,in favor of U.S.Bank National Association,successor-by-merger to First National Bank,securing the above-referenced Promissory Note. The above-described Mortgage is a lien on the following-described real estate located in the City of Iowa City,Johnson County, Iowa,to-wit: Lot Five(5)in West Bel Air Addition to Iowa City,Iowa,. Locally described as 18 Montrose Avenue,Iowa City,Iowa 52245. There is a default pursuant to the terms and provisions of the Promissory Note which said Mortgage secures. There is presently past due and owing on the Promissory Note the following sums: 1) Past due payments of principal, interest,late charges and fees as of May 10,2008 $1,141.83 TOTAL: $1,141.83 plus interest per day from and after May 10,2008 plus accrued interest,attorney's fees and costs You and each of you are hereby notified that,unless within thirty days after completed service of this Notice of Nonjudicial Foreclosure of Nonagricultural Mortgage Pursuant to Iowa Code Chapter 655A upon you,that the above amounts,plus all accrued interest,attorney's fees,advancements and abstracting costs are paid in full at the ��- : C m (Cover o►LL ) C (Cover oit_ELd ) F, r r c office of Thomas H.Burke,Attorney at Law,Whitfield&Eddy,P.L.C.,317 Sixth Avenue,Suite 1200, Des Moines,Iowa 50309,or a rejection to this Notice pursuant to Iowa Code Section 655A.6 is served upon: Thomas H.Burke Whitfield&Eddy,P.L.C. 317 Sixth Avenue,Suite 1200 Des Moines,Iowa 50309 and filed with the Johnson County(Iowa)Recorder,the Mortgage previously referenced as Exhibit"B" will be foreclosed. Attached hereto,marked Exhibit"C",and by this reference made a part hereof,is a true and accurate copy of the 30-Day Notice of Right to Cure Default sent to John G.Schnoebelen and Kathleen M.Schnoebelen by representatives of U.S.Bank National Association,pursuant to Iowa Code Chapter 654. WITHIN THIRTY (30)DAYS AFTER YOU RECEIVE THIS NOTICE, YOU MUST EITHER CURE THE DEFAULT DESCRIBED IN THIS NOTICE OR FILE WITH THE • REORDER OF THE COUNTY WHERE THE MORTGAGED PROPERTY IS LOCATED,A REJECTION OF THIS NOTICE AND SERVE A COPY OF YOUR REJECTION ON THE MORTGAGEE IN THE MANNER PROVIDED BY THE IOWA RULES OF CIVIL PROCEDURE FOR SERVICE OF ORIGINAL NOTICE. IF YOU WISH TO REJECT THIS NOTICE, YOU SHOULD CONSULT AN ATTORNEY AS TO THE PROPER MANNER TO MAKE THE REJECTION. IF YOU DO NOT TAKE EITHER OF THE ACTIONS DESCRIBED ABOVE WITHIN THE PERIOD OF THIRTY (30)DAYS,THE FORECLOSURE WILL BE COMPLETE AND YOU WILL LOSE TITLE TO THE MORTGAGED PROPERTY. AFTER THE FORECLOSURE IS COMPLETE,THE DEBT SECURED BY THE MORTGAGED PROPERTY WILL BE EXTINGUISHED. WHITFIELD &EDDY, P.L.C. 317 Sixth Avenue, Suite 1200 Des Moines,Iowa 50309-4195 Phone (515)288-6041Ar. : (515)24: 4 By: # Thomas H. Burke AT0001280 ATTORNEYS FOR U.S. BANK NATIONAL ASSOCIATION, SUCCESSOR-BY-MERGER TO FIRST NATIONAL BANK I\USBenk ScMcebclen.JlNo ice.IOwa C9ty.wpd O .0 _ -T1 D S 0 --- r- n -o m r -o 0 0 7° N D 0 FIRST r3oRRowER HOME 1UiTY JOHN G SCr HELEN KATHLEEN e, zTrloaHELEN LINE OI CREDIT 44 Lv( (o. q LI 00065 AGREEMENT National Bank ADDRESS 204 Fast Washington 18 MONTROSE AVE (This is a Consumer tow.City,Iowa 52240 IOWA CITY, IA 52245 (319)356-9000 TELEPHONE 00, IDEOMACATIONNO. Credit Transaction) _. "ODER" 319-338-8070 480-50-0652. ---------- Ornate INITIALS INT13iEST RATE CREDITU11rf . AGREEMENT RATE -.MATURITY DATE. CUSTOMER NUMBER 't IRAN!WINDER RJW VARIABLE $16,000.00 04/07/97 04/11/07 N/A :CZOB#8'41— ADORES=OF REAL.PROPERTY SECURING This CREDIT AGREEMENT: 18 MONTROSE AVE ,4709.r11366 IOWA CITY, IA 52245 PLEASE READ CAREFULLY: This Agreement governs the Borrower's Home Equity Une of Credit("Account')with the Lender. The Account establishes a line of credit for the Borrower with the Lender to be used for consumer purposes. The Account is secured by the real property identified above(the'Borrower's Home')and also by any deposit accounts Borrower now or hereafter may have with Lender. The Account will permit the Borrower to request advances up to the amount of the credit limit Indicated above. The Borrower will be asked to sign this Agreement and a deed of trust or mortgage("Security Instrument')prior to opening the Account The Security Instrument will grant the Lender a security interest in the Borrower's Home and is pan of this Agreement. CREDIT UFAIT: Borrower agrees not to request advances on the Account that would cause the balance on the account to exceed the Credit limit. ACCESS TO THE ACCOUNT: Advances on the Account may be obtained In the following manner.® credit line checks X❑written request for a loan advance O telephone request for a loan advance.❑Overdraft checking. Automatically when Borrower overdraws Account No. Other: USE RESTRICTIONS: Advances will be honored subject to the terms of this Agreement,the Security Instrument,the Borrower's available credit on the Account, and the following restrictions: Initial Minimum Advance Arnount:$ 500.00 Subsequent Minimum Advance Amount S 5 QQ,4Q____. Other Restrictions -- -- ---- PROCESSING LOAN ADVANCES: Loan advances shall be:III Deposited Into account number. ❑Other: ANNUAL PERCENTAGE RATE: The ANNUAL PERCENTAGE RATE is determined in the manner described below and does not include costs other than interest. _❑FIXED RATE: This Account has a fixed interest rate. The ANNUAL PERCENTAGE RATE for this Account is _ percent( %)per annum with an initial ❑ Daily ❑ Monthly Periodic Rate of_ % ®VARIABLE RATE This Account has a variable interest rate feature. The ANNUAL PERCENTAGE RATE may change if the Index Rate changes. The Index Rate shall be:PRIME RATE AS PUBLISHED IN THE WALL STREET JOURNAL The initial Index Rate is EIGHT AND 500/1000 percent( 8.500 %)per annum. This Index Rate Is readily available to Borrower,and is verifiable by Borrower at any of Lender's offices. The changes In the Index Rafe are beyond the control of Lender. If the Index Rate becomes unavailable,Lender will choose another index which is also readily available and verifiable by Borrower and which Is beyond Lender's control. Lender may also change the Margin used as long as the historical fluctuations in the-two indices were substantially similar(if the new index rate has been In existence)and as long as the new index and margin will produce an ANNUAL PERCENTAGE RATE similar to the rate that was In effect at the time the Index Rate became unavailable. It this happens,the substitute index rate will,for the purposes of this Agreement,be considered the'Index Rate." MARGIN: The ANNUAL PERCENTAGE RATE on this Account shall be calculated ata variable rate equal to_DNB AND NO/1000 percent ( 1.000 %)per annum over the Index Rate. INITIAL RATE: The initial ANNUAL PERCENTAGE RATE for this Account is NINE AND 500/1000 percent ( 9.500 %)per annum with an initial ®Daly❑ Monthly Periodic Rate of 0 026 %. ❑ If checked,the initial ANNUAL PERCENTAGE RATE is not based on the initial Index Rate and Margin described above. The initial ANNUAL PERCENTAGE RATE will be in effect until . Based on the Index Rate and Margin described above,the initial ANNUAL PERCENTAGE RATE would be percent( %)per annum with an initial ❑ Daily❑Monthly Periodic Rate of %. MINIMUM/MAXIMUM RATE The minimum ANNUAL PERCENTAGE RATE under this Agreement shall not be less than RTS r Drxfl Agotion0 percent( B.000 %)per annum. The maximum ANNUAL PERCENTAGE RATE shall not exceed TWENTY-ONE AND NO/1000 percent( 21 000 %)per annum,or the maximum ANNUAL PERCENTAGE RATE Lender is permitted to charge by law,whichever is less. RATE CHANGES: If the Index Rate increases or decreases the corresponding ANNUAL PERCENTAGE RATE and Periodic Rate will increase or decrease unless the minimum or maximum ANNUAL PERCENTAGE RATE has been reached. Borrower's Minimum Payment may also increase or decrease accordingly. The ANNUAL PERCENTAGE RATE will apply to Borrower's Account balance as of the effective date of the increase or decrease as well as to future Advances. Any change in the ANNUAL PERCENTAGE RATE and the Periodic Rate will be effective on: a daily basis_ RATE CHANGE LIMITATIONS:❑ It checked,the ANNUAL PERCENTAGE RATE will not Increase by more than r•-•..1percent( %) ANNUAL MAINTENANCE FEE:An annual account maintenance tee of$ 15.00 will be assessed on the Account 0 CHECK PROCESSING FEE Ha check for payment is returned to Lender for any reason(for example,because there were insufficient funds in Borrower's 0 mo= --r1 checking account),Lender will assess a check processing fee of$ n/_a . Z ."... OTHER COSTS AND DISBURSEMENTS: Other fees, charges, and disbursements are itemized in the HUD-IA Settlement Statement. Borrower -O acknowledges receipt of a copy of the HUD-1A Settlement Statement,which Is Incorporated into this agreement by this reference. —:0 L -m 0c 0 NOTICE TO CONSUMER: 1. DO NOT SIGN THIS PAPER BEFORE YOU READ R. 2. YOU ARE ENTITLED TO A COPY OF THIS PAPER. 3. YOU MAY 73 O N PREPAY THE UNPAID BALANCE AT ANY TIME WITHOUT PENALTY' AND MAY BE ENTITLED TO RECEIVE A REFUND OF UNEARNED CHARGES IN A ACCORDANCE VI?TFI LAW. d ACKNOWLEDGMENT BORROWER ACKNOWLEDGES THAT BORROWER HAS READ,UNDERSTOOD, AND AGREED TO THE TERMS AND CONDITIONS OF THIS AGREEMENT INCLUDING THE PROVISIONS ON THE REVERSE SIDE AND SUBSEQUENT PAGES. BORROWER ACKNOWLEDGES RECEIPT OF AN EXACT COPY OF THIS AGREEMENT. Dated: APRIL 7, 1997 #t-9-f7 x . 0 - ,., 0.- .., y -9, R:4L___14.464___4, HN B EN BOR•:wt•. V. - ::♦ M a::: EN BORROWER: A BOFR - -- EXHIBIT PAGEe_ __ tr'M1Il 0 FornWbn Technologies,Inc(70/12/95) WO)5373799 Page 1 d 4 FINANCE CHARGES: Aa advances are subject to finance charge. ...m the date of the advance until such advances are paid. There is.. .terest-free grace period on the Account_ Lender determines the finance charge assessed on the Account in the manner checked below. ® Actual Daily Balance. Lender starts with the balance on the Account at the beginning of each biting cycle ® less unpaid finance charges ❑ Including unpaid finance charges. Each day during the billing cycle.Lender subtracts payments and credits from the balance and adds new advances and debits. This determines the ending balance of the Account for each day of the billing cycle. Lender multiplies each ending balance by the Daily Periodic Rate to determine the daily finance charge. These daily finance charges are aEdded together to determine the finance charge for the billing cycle. ❑ Average Daily Balance. Lender starts with the balancebn the Account at the beginning of each billing cycle less unpaid finance charges❑including unpaid finance charges. Each day during the billing cycle,Lender subtracts payments and credits from the balance and adds new advances and debits. This determines the ending balance for the Account for each day of the billing cycle. Lender then adds up the ending balances for the billing cycle and divides the total by the actual number of days in the billing cycle to get the Average Daily Balance. Lender then multiplies the Average Daily Balance by the❑ Daily Periodic Bate and the actual number of days In the billing cycle ❑ Monthly Periodic Rate. This product is the finance charge for the billing cycle. MINIMUM FINANCE CHARGE: A minimum FINANCE CHARGE of$ n/a may be assessed on the Account for each bluing period in which there is an outstanding balance. BILLING CYCLE: Borrower shall be billed 10 DAYS PRIOR TO THE PAYMENT DUE DATE TERM: Borrower may request advances from the date any right of rescission expires until (the'Draw Period"). Lender may review Borrower's Account at the end of the Draw Period and,in Lender's sok discretion,may decide to extend the Draw Period. Lender wall notify Borrower In writing of any extension of the Draw Period. Borrower may be required to make Minimum Payments during the Draw Period. After the Draw Period ends,Borrower no longer will be able to request advances and must repay the outstanding balance on the Account during the period described below (this is known as the'Repayment Period'). ® The entire outstanding balance and all accrued finance and other charges must be paid immediately at the end of the Draw Period. The length of the Repayment Period is The length of the Repayment Period WIII depend on the balance outstanding at the beginning of it,but it will not be longer than_ MINIMUM PAYMENT: Borrower may pay all or a part of the outstanding balance at any time without penalty.Borrower's payment must be made by the payment due date shown on the periodic statement described in this Agreement. All Minimum Payments shall be applied by Lender in the manner determined by Lender. Borrower may pay either the Minimum Payment or any amount over that up to the unpaid balance. During the Draw Period the Minimum Payment will be: ❑ (a)PRINCIPAL BALANCE METHOD. The greater of$ or of the outstanding principal balance for the current billing cycle plus all accrued and unpaid finance charges and any past due principal. ❑ (b)INTEREST ONLY METHOD. Borrower shall pay all accrued and unpaid finance and other charges for the current billing cycle. ❑ MOTHER The greater of $50 or the outstanding principal and interest divided by 100, rounded to the nearest $1. During the Repayment Period the Minimum Payment will be: ❑ to PRINCIPAL BALANCE METHOD. The greater of S or of the outstanding principal balance for the current billing cycle plus all accrued and unpaid finance charges and any past due principal. ❑ (b)INTEREST ONLY METHOD. Borrower shall pay all accrued and unpaid finance and other charges for each billing cycle,and then will pay the entire outstanding principal balance and all accrued and unpaid finance and other charges at the end of the Repayment Period. ® (c)ENTIRE BALANCE. The entire outstanding principal balance plus all accrued finance and other charges must be paid immediately at the end of the Draw Period. ❑ (d)OTHER. AMORTIZATION/BALLOON PAYMENT: ❑ The Minimum Payment will not reduce the principal that is outstanding on Borrower's line. Borrower will then be requited to pay the entire balance in a single balloon payment. • The Minimum Payment will not fully repay the principal that Is outstanding on Borrower's line. Borrower will then be required to pay the entire balance In a single balloon payment. • ❑ Under some circumstances, Borrower's payments will not cover the finance charges that accrue and 'Negative Amortization'will occur. Negative C.. � Amortization will Increase the amount Borrower owes Lender and reduce Borrower's equity in Borrower's Home. p. 11 AUTOMATIC PAYMENT DEDUCTION: ❑Borrower authorizes Lender to deduct the Minimum Payment due under this Account from Borrower's account number with Lender.Automatic payment deductions are not required to obtain credit 'O RENEWAL El I checked,this Agreement Is In renewal of Loan Number - r ) 1. PROMISE TO PAY. Borrower promises to pay Lender the full amount of all advances under this Agreement plus all finance charges end fees provided m for in this Agreement and the Security Instrument in the manner provided in this Agreement or the Security Instrument. 2 SECURITY AGREEMENT. In order to secure payment of all amounts due to Lender under this Agreement,Borrower grants to Lender a security interest • TV in(a)Borrower's Home;and(b)all monies,Instruments,and savings,checking or other deposit accounts(excluding IRA,Keogh and trust accounts and deposits subject to tax penalties if so assigned)that are now or in the future in Lender's custody or control;and(c)any other collateral described in arty a, CD security Instrument executed in connection with this Agreement as well as arty other property designated as security for this Agreement now or in the future. O 3. PROPERTY INSURANCE. Borrower is re,3uired to maintain property insurance on Borrower's Home. The requirements for property insurance are detailed in the Security Instrument. If checked, U Borrower also is required to maintain flood Insurance in such amounts and for such term as required by Lender. This Insurance may be obtained through a responsible Insurer or Borrower's choice. a. INFORMATION ABOUT THE BORROWER AND BORROWER'S HOME. Borrower agrees to provide to Lender,upon request,the financial and credit related information necessary to establish this Account. Borrower understands that Lender will open the Account and make advances under this Account in reliance on that information. Borrower also will furnish to Lender promptly upon request such financial statements,updated credit reports and such other information with respect to Borrower's financial condition or Borrower's Home as Lender may require from time to lime. Lender reserves the right to reappraise Borrower's Home and to order credit reports. Borrower promises that all information provided to Lender either now or in the future will be true and complete. Borrower agrees to notify Lender immediately of arty adverse-change-in Borrower's financial a credit condition. Informallan concerning the Account maybe reported to credit reporting agencies and will be made available when requested by proper legal process. 5. PERIODIC STATEMENTS. Each billing cycle, Lender will lanyard to Borrower at the address indicated above a statement of the Account. The statement will Include a summary of all transactions on the Account during the billing cycle,the previous balance,Advances,payments and credits,finance charges,the ending balance,and will specify the Minimum Payment amount and date that payment Is due. 6.TERMINATION BY LENDER. Upon the occurrence,or at any time during the continuance,of any one or more of the following events('Events of Default"),Borrower shall be in default end at Lender's option,this line of credit shall be terminated and the entire unpaid balance of Borrower's Account, including all finance charges and fees provided for in this Agreement,shall become immediately due and payable after sending Borrower any Notice of Right to Cure Default which Is required by law.Lender may declare the Borrower to be in default if the Borrower ▪ commits fraud or makes a material misrepresentation through acts of commission or omission at any time in connection with this Agreement or the Security Instrument; . fails to meet the repayment terms under this Agreement • violates or fails to comply with a covenant contained in the Security Instrument which adversely affects Borrower's Home or Lender's rights in Borrower's Home;Including,but not limited to,Borrower transferring title without permission of the Lender,Borrower's failure to maintain insurance or Borrower's failure to pay taxes. Any of the foregoing shall constitute a default under the Iowa Consumer Credit Code. If a court should determine that one or more of the above do not ���� constitute a default under the Iowa Consumer Credit Code, Borrower agrees that reinstatement of the obligations shall be Borrower's sole reEX,1 I I U I Borrower shall not be entitled to any damages by reason of Lender's exercise of any of its remedies herein. /�� a...f�... • In addition.Lender may exercise all rights on default of. fired party permitted under applicable law,and all rights under peement and the Security Instrument. Lender shall also have the right to hold or apply funds in Borrower's deposit accounts against all funds due and o,.,,g to Lender. ft this Acgourn may be accessed by a credit card as such is defined under the Truth-Lending-Lending Act,then Lender's right to offset is prohibited to the extent It Is prohibited under the Troth-In-Lending Act. Borrower will pay all reasonable expenses, (other than attorneys fees) incurred by Lender in realizing on any security interest securing the Borrower's obligations under this Agreement,including court costs. 7. TEMPORARY SUSPENSIONS OF CREDIT AND REDUCTION OF CREDIT UMIT. Lender can refuse to make additional Advances or reduce Borrower's Credit Limit it any Event of Default occurs or during any period In which any one of the following conditions(hereinafter called'Conditions of Suspension')arise: ▪ The value of Borrower's Home declines significantly below its appraised value for purposes of the line of credit. For example,if the difference between the initial Credit Limit and the available equity(based on appraised value)is reduced by 50%,then the value of Borrower's Home has significantly declined. ■ Lender reasonably believes that Borrower will not be able to meet the repayment requirements of this Agreement due to a material change in Borrower's financial circumstances. • Borrower is in default of a material obligation in this Agreement . Government action prevents Lender from imposing the agreed upon ANNUAL PERCENTAGE RATE or impairs Lender's security interest in Borrower's Home such that the value of the interest is less than 120 percent of the Credit Limit. • A regulatory agency has notified Lender that continued Advances would constitute an unsafe and unsound practice. • The maximum ANNUAL PERCENTAGE RATE specified above is reached. If Lender refuses to make additional advances or reduces the credit limit because of the existence of a Condition of Suspension,it will notify Borrower in writing atter taking such action. Borrower must request reinstatement of the line of credit and show Lender that the Condition of Suspension which triggered the Lender's action no longer exists unless the Condition of Suspension is not within Borrower's knowledge or control. B. RESTRICTIVE ENDORSEMENT. If Borrower marks any check payable to Lender as'Paid In Full'or words to that effect, Borrower will still be responsible for repaying any balance that remains due on the Account. 9. TERMINATION BY BORROWER. Borrower may terminate this Agreement by notifying Lender in writing at the address indicated on this Agreement. Borrower's obligation to pay all amounts due to Lender shall continue until all amounts due and owing have been paid. It this Agreement is signed initially or subsequently by more than one Borrower,termination by any one terminates the line of credit for all. 10. AMENDMENT. Lender may amend this Agreement if Borrower specifically agrees to the amendment in writing at the time the amendment Is made. Lender also may amend this Agreement without the Borrower's agreement thereto by notifying Borrower of the amendment if the amendment unequivocally benefits Borrower throughout the remainder of the plan or if the amendment is insignificant. All amendments will be made in accordance with applicable law. 11. TAX DEDUCTIBILITY. Borrower should consult a tax advisor regarding the deductibility of interest and charges on the Account. 12. JOINT ACCOUNT. If this Account Is a joint Account,each Borrower who signs this Agreement shall be individually and jointly liable for payment of the debt This liability exists regardless of which Borrower creates the debt,and In spite of any divorce,legal proceedings or agreement that may affect liability between the Borrowers. This joint and several liability shall continue until all obligations are paid in full. A release of one joint Borrower or a release of any collateral securing this Agreement shall not operate as a release of any other joint Borrower. 13. MODIFICATION AND WAIVER.The modification or waiver of any of Borrower's obligations or Lender's rights under this Agreement must be contained In a writing signed by Lender. Lender may perform any of Borrower's obligations or delay or fail to exercise any of its rights without causing a waiver of those obligations or rights. A waiver on one occasion shall not constitute a waiver on any other occasion. Borrower's obligations under this Agreement shall not be affected if Lender amends,compromises,exchanges,fails to exercise,impairs or releases any of the obligations belonging to any co-borrower or guarantor or any of its rights against any co-borrower,guarantor or collateral. 14. ASSIGNMENT. Borrower may not assign this Agreement without the prior written consent of Lender. Any such assignment and any attempted assignment of this Agreement will be null and void. Lender has the right to assign,sell or transfer the Account at any time. 15. SUCCESSORS AND ASSIGNS. This Agreement shall be binding upon and inure to the benefit of Borrower and Lender and their respective successors,assigns,trustees,receivers,administrators,personal representatives,legatees,and devisees. The term'Lender"shall mean the Lender specified In this Agreement,Its successors and assigns,and subsequent holders of this Agreement. _ _ 16. NOTICES. Any notice or other communication to be provided under this Agreement shad be in writing and sent to the parties at the addresses described in this Agreement or such other address as the parties may designate in writing from time to time. 17.APPLICABLE LAW.This Agreement shall be governed by the laws of the state of Iowa. 16. SIGNATURES. The signature of the Borrower shall indicate that Borrower has read this Agreement,agreed to the terms and conditions of the Agreement,and received a completed copy of this Agreement and Billing Rights Statement. 19. MISCELLANEOUS: Borrower will provide Lender with current financial statements and other information upon request. Borrower and Lender agree that time Is of the essence. Borrower waives presentment,demand for payment,notice of dishonor and protest except for Borrower's Flight to Cure Default as provided for under applicable law. All references to Borrower in this Agreement shall include all of the parties signing on the reverse side. This Agreement and any related documents represent the complete and integrated understanding between Borrower and Lender. 20. ADDITIONAL TERMS: h,f 0 3 n c. o fir-- m CREDIT UFE AND DISABILITY INSURANCE M Credit Ufe Insurance and Credit Disability Insurance are not required to obtain credit,and will not be provided unless Borrower signs below and 0 G X 0 agrees to pay the additional cost Credit Life Insurance is available ata cost of$ n/a per$ nof the 31/4/a a of the n/a per billing period for single coverage and S n/a per S per billing period for Joint coverage(if available). Credit Disability Insurance is available at a cost of $ n/a per $ n/a of the n/a per billing period for single coverage and S n/a per$ n/a of the n/a per billing period for joint coverage(1 available). I want Credit Ufe Insurance. I do not want Credit Life Insurance. • I want Credit Life Insurance. I do not want Credit Life Insurance. .� 44 I want Credit Disability Insurance._ I do not want Credit Disability Insurance. �1- . ae`' "" I want Credit Disability Insurance I do not want Credit Disability Insurance./ =-- - . -- VVV EXHIBIT_L_PAGE_L_„, Page 3 at d WithtpaAt it f9 Foe,sAlicn Technologies,glet,kin.110/12/65) (9431.369 7 BIWNG RIGHTS STATEMENT • YOUR(BORROWER'S)BILLING RIGHTS,KEEP THIS NOTICE FOR FUTURE USE This notice contains important information about the Borrower's rights and the Lender's responsibilities under the Fair Credit Billing Act. NOTIFY LENDER IN CASE OF ERRORS OR QUESTIONS ABOUT YOUR(BORROWER'S)BILL If Borrower thinks that a bill is incorrect or if Borrower needs more information about a transaction on a bill,Borrower should write to Lender as soon as possible at the address indicated on the bill Lender must hear from the Borrower no later than sixty(60)calendar days after Lender sent Borrower the first bill on which the error or problem appeared. Borrower may telephone Lender,but doing so will not preserve the Borrower's rights. Borrower should provide the following Information in the letter. Borrower's name and account number. The dollar amount of the suspected error. A description of the error and an explanation,If possible,why Borrower believes there is an error. If Borrower needs more information,Borrower shoo'Id describe the item Borrower is unsure about. ft Borrower has authorized Lender to pay the bill automatically from a savings or checking account,Borrower can stop payment on any amount that the Borrower believes Is wrong To stop payment the Borrower's letter must reach Lender at least three(3)business days before the automatic payment is scheduled to occur. BORROWER'S RIGHTS AND LENDER'S RESPONSIBILITIES AFrEJl LENDER RECEIVES WRITTEN NOTICE Lender must acknowledge Borrower's letter within thirty(30)days,unless Lender has corrected the error by then. Within ninety 00)days,Lender must either correct the error or explain why Lender believes the bill is correct. Alter Lender receives Borrower's letter,Lender cannot try to collect any amount In question,or report the Borrower as delinquent. Lender may continue to bill the Borrower for the amount in question,including finance charges,and Lender may apply any unpaid amount against the Borrower's credit limit. Borrower does not have to pay any questioned amount while Lender is Investigating,but Borrower Is still obligated tc pay the parts of the bill that are not in question. tf Lender finds that Lender has made a mistake on the bill,Borrower wilt not have to pay any finance charges related to the amount In question. ft Lender did not make a mistake,Borrower may have to pay finance charges and Borrower will be required to make up any missed payments on the questioned amount. In either case,Lender will send Borrower a statement of the amount owed and the date it is due. If Borrower fails to pay the amount owed.Lender may report the Borrower as delinquent. However,if Lender's explanation does not satisfy Borrower and Borrower writes to Lender within len (10)days telling Lender that Borrower still refuses to pay,Lender must tell anyone Lender reported Borrower to that Borrower has a question regarding Borrower's bills. Furthermore.Lender must tell Borrower the name of anyone that Lender reported Borrower to. Lander must tell anyone Lender reports Borrower to that the matter has been settled between us when it finally is. It Lender doesn't follow these rules,Lender cannot collect the first$50.00 at the questioned amount,even if the bill was correct. _ rV o cn D"( _ !71 m -n IV D (D 0 EXHIBIT PAGE LPUrr 1O eoe'erhn Tecnnoig'ar,Inc 1ic/m2/951 0)141r-]139 i'ny..N.. BORROWER EXTEN: N AND F I R S T JOHN G SCF 3ELEN KATHLEEN M ANOEBELEN AMEND'. .NIT TO National SankADDRESS CONSUMER 204 Fast Washington 18 MONTROSE AVE LINE OF CREDIT Iowa City,Iowa 52240 IOWA CITY, IA 52245 AGREEMENT (319)356-9000 TE EPHONE NO. 10ENTIEMATION ND. "LENDER" 319-338-8070 480-50-0657 E)OsT1NO ( Rm31 T RATE k .CREDR UMfi - 1 mmee ENTDATE MAlURRY DATE . CUSToWER MUMs91 LOAN NUUeER L FonsutENf1 VARIAB�_+EEI $16,000.001 04/07/97 I 04/11/07 N/A 47004866 FORNtATInNURPOSE: EQEIITY FIRST (This is a Consumer Credit Transaction) EXTENSION AND AMENDMENT TO LINE OF CREDIT AGREEMENT Effective MAY 8• 1997 _,Borrower and Lender mutually agree that the Agreement identified above shall be amended as follows('Amendment): ❑EXTENSION The Maturity Date is extended to - - ❑ADDITIONAL TERMS: INSURANCE: If Borrower has purchased credit life or credit accident and health insurance,this insurance may cover payments under the existing Agreement. The insurance policies or certificates may need to be rewritten to cover the term of the Agreement as amended by this Amendment ADDITIONAL DOCUMENTS: Borrower agrees to execute any additional documents that Lender may request in connection with this Amendment. _ INCORPORATION: The terms and conditions of the existing Agreement are fully ratified and incorporated into this Amendment by this reference. The terms and conditions of the existing Agreement shall remain in full force and effect except as specifically amended by this Amendment. RESERVATION OF RIGHTS: If a Borrower under the existing Agreement does not sign this Amendment,such Borrower will remain liable under the terms and conditions contained in the existing Agreement if not released from those obligations in a writing signed by Lender. .•.AMENDED INTEREST RATE CREDTTl1NRT ' . •wENDEIENT. NEW.i•UITuRWTr CUSTD uMBER a LOAN I.ik7Y N �III4_ ••• NUMBER • GATE .. DATE" AGREEMENT 7004866 INFORMATION VARIABLE $12,000-00 05/08/97 04/11/07 N/A THE PARTIES HAVE EXECUTED THIS AGREEMENT AS OF THE DATE INDICATED BELOW. NOTICE TO CONSUMER: 1. DO NOT SIGN THIS PAPER BEFORE YOU READ IT. 2. YOU ARE ENTITLED TO A COPY OF THIS PAPER. 3. YOU MAY PREPAY THE UNPAID BALANCE AT ANY TIME WITHOUT PENALTY AND MAY BE ENTITLED TO RECEIVE A REFUND OF UNEARNED CHARGES IN ACCORDANCE WITH LAW. AMENDMENT DATE: MAY 8. 1997 /I BORR( JER:JOHN G SCHNOEBELEN BORROWS : THLEEN M CNN EBELEN BORROWER: BORROWER LENDER FIRST NATIONAL BANK IOWA 13V: KEVIN J WERNER U_ ,.CA./,P,�iO",t`' .. TITLE: BRANCH MANAGER 4 Y- = -11 0-( '.o - O N D O O EXHIBIT A PAGE 6 iR1A131 S FormAiIon T«hnologww.Inc.(2/11/931 MOM 9373799 BORPOWER- - �—-- 7o9b r1�t�CA(7TIL= JOHN G Si EBELEN EXTER )N AND BANK AMENDMENT TO Mercantile Bank Midwest CONSUMER MERCANTILE ODI tWAs GTNPROMISSORY NOTE IOWA CITY,IA 52240 ADDRESS (719)356-9000 "LENDER" ADDRESS MONTROSE AVE IOWA CITY, IA TELEPHONE NO. IDENnNUTON NO. INTEREST PRINCIPAL FUNDING MATURITY CUSTOMER LOAN NOTE RATE AMOUNT DATE DATE NUMBER NUMBER INFORMATION 12.00% $6,898.98 11/18/97 11/20/99 6162940 0003 PURPOSE: TO DEFER PAYMENTS DUE AND INCREASE PAYMENT AMOUNTS- (THIS IS A CONSUMER CREDIT TRANSACTION) EXTENSION AND AMENDMENT TO NOTE Effective July 09, 1999 ,Borrower and Lender agree that the Note,identified above,(the'Note,shall be amended as follows: CI EXTENSION: The Maturity Date of the Note is extended to 0 INTEREST RATE: The interest rate on the Note shall be changed to: 0 A fixed rate of %per annum or the maximum interest rate Lender is permitted to charge by law,whichever is less. 0 A variable rate of %per annum the Index Rate indicated below. My change in the Interest rate resulting from a change In the Index Rate will be effective on: The Index Rate used for the Nate shall be: if the Index Pate Is redefined or becomes unavailable,then Lender may select another index which is substantially similar. The initial interest rate on the Note,as amended,shall be %per annum. MINIMUM RATE/MAXIMUM RATE:Subject to applicable law,the minimum Interest rate on the Note,as amended,shall be— _ - % per annum. The maximum interest rate on the Note,as amended,shall not exceed %per annum or the maximum interest rate Lender Is permitted to charge by law,whichever is less. RATE ADJUSTMENT LIMITATIONS: The maximum interest rate increase at any one time will be - %. The maximum rate decrease at any one time will be. %. PAYMENT SCHEDULE: Borrower shall pay the principal and interest on the Note according to the following schedule: 4 payments of $663.19 beginning July 20, 1999 and continuing at monthly time intervals thereafter. A final payment of the unpaid principal balance plus accrued interest is due and payable on November 20, 1999. ADDITIONAL TERMS: IT IS MUTUALLY AGREED TO INCREASE THE PAYMENTS FROM $324.90 TO $663.19 PER MONTH BEGINNING JULY 20, 1999. • INSURANCE: If Borrower has purchased credit life or credit accident and health insurance,this insurance may only cover payments made under the Note. ADDITIONAL DOCUMENTS: Borrower agrees to execute any additional documents that Lander may request in connection with this extension/amendment of the Note. RATIFICATION AND INCORPORATION: The terms,definitions and conditions of the Note are fully ratified and Incorporated into this Agreement by this reference. The terms and conditions of the Note shall remain In full force and effect except as specifically extended/amended by this Agreement. The Note and all other loan documents as extended and amended,are hereby adopted,ratified,confirmed and acknowledged to be In full force and effect and binding upon Borrower with all of the collateral being pledged remaining as security for Lender. RESERVATION OF RIGHTS: If a Borrower under the Note does not sign this Agreement,such Borrower will remain liable under the terms and conditions contained in the Note,If not released from those obligations in a writing signed by Lender. INTEREST RATE PRINCIPAL AMOUNT MATURITYCUSTOMER XUMBFR LOAN NUMBER 1 AMENDED NOTE DATE INFORMATION 12.000% 43,097.37 11/20/99 NIA NOTICE TO CONSUMER: 1. DO NOT SIGN THIS PAPER BEFORE YOU READ IT. 2. YOU ARE ENTITLED TO A COPY OF THIS PAPER. 3. YOU MAY PREPAY THE UNPAID BALANCE AT ANY TIME WITHOUT PENALTY,OTHER THAN THE PREPAYMENT PENALTY DESCRIBED BELOW, AND MAY BE ENTITLED MINIMUM IRECEIVE ECEEEAFICE NOTGREATEROF UNEARNED A NED CHARGES IN ACCORDANCE ANC CENTS yW..4. IF YOU PREPAY THE UNPAID BALANCE,YOU MAY HAVE TO PAY BORROWER ACKNOWLEDGES THAT BORROWER HAS READ, UNDERSTANDS, AND AGREES TO THE TERMS OF THIS AGREEMENT. BORROWER ACKNOWLEDGES RECEIPT OF AN EXACT COPY OF THIS AGREEMENT. Dated: July 09, 1999 BOliapwER: JOHN G SCANOEBELKN RORER •AC J4jMA.� -�-w _ Ea �, O ce JO SCHNOEBELEN 0 BORROWER: BORROWER D H = 0.< _ r -<r -v m LENDER- I 8• MIDWEST �3 y V @ , X B : . _ I 1st -- *' N KEV.N -iT-: R P D CD BRAN ar• • -GER CD EXHIBIT Pt PAGE we �Ilf� IEIA,‘iii 0 fwmAaon Tcc ndogles.Inc.(12/4/961 iron 931.3796 .. .. 8400 r FILFC I(i�7_ g00:t ••r F- - • • c:6 r� JJ�� 4A 1991 APR 15 (dui 9: 4 I tY f JGr;;: 1-i:.:.D:R `I3v:.A C.1 Y.IO::A Document prepared by: 3EL LY A-HAKES, 204 E WASHINGTON STREET, IOWA CITY, IA 52240, CONSUMER HOME EQUITY LINE FIRST NATIONAL BANK IOWA MORTGAGE 204 B WASHINGTON STREET IOWA CITY, IA 52240 (This is a Consumer Credit Transaction) 319-356-9000 (Lender) _ • BORROWER' MORTGAGOR , • :, JOHN G SCHNOEBELEN JOHN O SCHNOHBELIN HOSBAND ' KATHLEEN M SCHNOEBELEN KATHLEEN M SCHNOEBELEN WIFE .ADDRESS: • - .:.ADDRESS... .. . . . ]B MONTROSE AVE 18 MONTROSE AVE IOWA CITY, IA 52245 IOWA CITY, IA 52245 TFLEPNONENO... • WENTIP.ICIITION NO. :TELEPHONEi40. .. .. . . . IO0111RRCATlOtl4tO. 319-338-8070 480-50-0651 319-338-8070 480-50-0651 'NOTICE THIS MORTGAGE SECURES CREDIT IN THE AMOUNT OF$ 1 (Inn n R. LOANS AND ADVANCES UP TO THIS AMOUNT,TOGETHER WITH INTEREST,ARE SENIOR TO INDEBTEDNESS TO OT}EA CREDITORS UNDER SUBSEQUENTLY RECORDED OR FILED MORTGAGES AND UENS. 1. GRANT. Mortgagor hereby mortgages,grants,assigns and conveys to Lender,Identified above,the real property described In Schedule A which is attached to this Mortgage and Incorporated herein together with all future and present improvements and fixtures; privileges, hereditaments, and appurtenances;leases,licenses and other agreements;rents,Issues and profits;water,well,ditch,reservoir and mineral rights and stock,and standing limber and crops pertaining to the real property(cumulatively"Property"). 2. OBLIGATIONS. This Mortgage shall secure the payment and performance of all of Borrower and Mortgagor's present and future, Indebtedness, liabilities,obligations and covenants(cumulatively'Obligations')to Lander pursuant to: (a)this Mortgage and the following promissory notes and other agreements: INTEREST -PRINCIPA,AMOUNT/.. :,. -�w�-�A,I�.N��DIN�R/ •- :- . MATIJJUTY . . CUSTOMER LOAN.. RATE - ,-ptEDIT.usirT - ; AiO1f AHIT3WITR;�_ _.... DATE .:. .NUMBER - NUMBED r VARIABLE $16,000.00 04/07/97 04/11/07 N/A 47004841 • Qall other present or future written agreements between Borrower or Mortgagor and Lender(whether executed for the same or different purposes _ /V than the preceding documents); O b)all amendments,modifications,replacements or substitutions to any of the foregoing. n 3. PURPOSE This Mortgage and the Obligations described herein are executed and incurred for personal,family or household purposes. D__I--- = 71 714. FUTURE ADVANCES. Upon request of Borrower,Lander,at Lender's option so long as this Mortgage secures indebtedness held by Lender,may make n"< — .......... '� future advances to Borrower. Such future advances,with interest thereon,shall be secured by this Mortgage. At no time shall the principal amount of the _ j ndebtedness secured by this Mortgage, not including sums advanced in aanrdance herewith to protect the security of this Mortgage exceed {0 y 1fi,000-DO . 5. CONSTRUCTION PURPOSES. K checked, U this Mortgage secures an obligation incurred for the construction of an improvement on land,and is a 0 pc) "construction mortgage"within the meaning of Section 554.9313 of the Iowa Uniform Commercial Code. This Mortgage also secures loans or advancements 0 N made to directly finance work or improvements upon the real estate described herein,and is a'consWction mortgage lien'within the meaning of Section 572.18 of the Iowa Code. 6. REPRESENTATIONS,WARRANTIES AND COVENANTS. Mortgagor represents,warrants and covenants to Lander that D CMO (a) Mortgagor shall maintain the Property free of all lens,security interests,encumbrances and claims except for this Mortgage and those described In Schedule B which Is attached to this Mortgage and incorporated herein by reference. (b) Neither Mortgagor nor,to the best of Mortgagor's knowledge,any other party has used,generated,released,discharged,stored,or disposed of any hazardous waste,toxic substance,or related material (cumulatively'Hazardous Materials') In connection with the Property or transported any Hazardous Materials to or from the Property. Mortgagor shall not commit or permit such actions to be taken in the future. The term"Hazardous Materials'shall mean any substance,material,or waste which Is or becomes regulated by any governmental authority including,but not limited to,0) petroleum; 01)triable or nonfriable asbestos; (iii)polychlorinated biphenyls; (iv)those substances,materials or wastes designated as a'hazardous substance' pursuant to Section 311 of the Clean Water Act or listed pursuant to Section 307 of the Clean Water Act or any amendments or replacements to these statutes;(v)those substances,materials or wastes defined as a'hazardous waste'pursuant to Section 1004 of the Resource Conservation and Recovery Act or any amendments or replacements to that statute;or(vi)those substances, materials or wastes defined as a 'hazardous substance'pursuant to Section 101 of the Comprehensive Environmental Response,Compensation and liability Act,or any amendments or replacements to that statute or any other similar statute,rule,regulation or ordinance now or hereafter in effect. To the best of Mortgagor's knowledge,there are no agricultural drainage wells,abandoned wells,sold waste disposal sites or underground storage tanks on the Property, (c) Mortgagor has the right and Is duly authorized to execute and perform Its Obligations under this Mortgage and these actions do not and shall not conflict with the provisions of any statute,regulation,ordinance,rule of law,contract or other agreement which may be binding on Mortgagor at any time; (d) No action or proceeding is or shall be pending or threatened which might materially affect the Property; (e) Mortgagor has not violated and shall not violate any statute,regulation,ordinance,rule of law,contract or other agreement which might materially affect the Property(including,but not limited 1o,those governing Hazardous Materials)or lender's rights or interest in the Property pursuant to this Mortgage; (f) Mortgagor is lawfully seized of the Property in fee simple;the Property is hee from all liens and encumbrances except those described in Schedule B attached to this Mortgage;and Mortgagor hereby warrants and covenants to defend the title to the Property against all persons whosoever;and (g) No loan broker as defined by Iowa Code Chapter crr5/'has been involved In this mortgage transaction. 7. TRANSFERS OF THE PROPERTY OR BENEFICIAL INTERESTS IN BORROWERS. On sale or transfer to any person without the prior written approval of Lender of all or any part of the real property described In Schedule A,or any interest therein,or all or any beneficial Interest in Borrower or Mortgagor(if Borrower or Mortgagor Is not a natural person or persons but is a corporation,partnership,trust,or other legal entity),Lender may,at Lender's option declare the sums secured by this Mortgage to be immediately due and payable,and Lender may Invoke any remedies permitted by the promissory note or other agreement or by this Mortgage,unless otherwise prohibited by federal law. 8. INQUIRES AND NOTIFICATION TO THIRD PARTIES. Mortgagor hereby authorizes Lender to contact any third party and make eeaanpy inquiry pertalni g to Mortgagor's financial condition or the Property. In addition.Lender is authorized to provide oral or written notice of its interest In E y V I Itq�any t PAG E-fir party. 2253 n 27 Pew i d r i (J _I ,� tr.....fatmAbon T,vbndnr ay .Inc.lnc.17o/ev)ianq ® xni.ar 9. INTERFERENCE WITH LEASES AND OTHER AGREE, 5. Mortgagor shall not take or fait to take any action which ma :e or permit th termination or'the withholding of any payment in connection wan any lease or other agreement ('Agreement') pertaining to the I-..,,rerty. In addition Mortgagor,without tender's prior written consent,shall not (a)collect any monies payable under any Agreement more than one month in advance; (b modify any Agreement;(c)assign or allow a lien,security interest or other encumbrance to be placed upon Lander's rights,title and Interest in and to an Agreement or the amounts payable thereunder;or(d)terminate or cancel any Agreement except for the nonpayment of any sum or other material breach b the other party thereto. lt Mortgagor receives at any time any written communication asserting a default by Mortgagor under an Agreement or purporting I terminate ar cancel any Agreement,Mortgagor shalt promptly forward a copy of such communication(and any subsequent communications relating thereto to Lender. to. COLLECTION OF INDEBTEDNESS FROM THIRD PARTY. Lander shall be entitled to notify or require Mortgagor to notify any third party (including,but not limited to,lessees,licensees,governmental authorities and insurance companies)to pay Lender any Indebtedness or obligation owing to Mortgagor with respect to the Property(cumulatively'Indebtedness')whetter or not a default exists under this Mortgage. Mortgagor shall diligently collect the Indebtedness owing to Mortgagor from these third parties until the giving of such notification. In the event that Mortgagor possesses or receives possession of any instrument or other remittances with respect to the Indebtedness following the giving of such notification or if the instruments or other remittances constitute the prepayment of any Indebtedness or the payment of any insurance or condemnation proceeds,Mortgagor shall hold such instruments and other remittances in trust for Lender apart horn its other property,endorse the instruments and other remittances to Lender,and immediately provide Lender with possession of Instruments and other remittances. Lender shall be entitled, but not required to collect (by legal proceedings or otherwise),extend the time for payment,compromise,exchange or release any obligor or collateral upon,or otherwise settle any of the Indebtedness whether or not an event of default exists under this Agreement. Lender shall not be liable to Mortgagor for any action,error,mistake, omission or delay pertaining to the actions described in this paragraph or any damages resulting therefrom. 11. USE AND MAINTENANCE OF PROPERTY. Mortgagor shall take all actions and make any repairs needed to maintain the Property In good condition. Mortgagor shall not commit or permit any waste to be committed with respect to the Property. Mortgagor shall use the Property solely in compliance with applicable law and insurance policies. Mortgagor shall not make any alterations,additions or improvements to the Property without Lender's prior written consent. Without limiting the foregoing,all alterations,additions and Improvements made to the Property shall be subject to the interest belonging to Lender,shall not be removed without Lender's prior written consent,and shall be made at Mortgagor's sole expense. 12. LOSS OR DAMAGE Mortgagor shall bear the entire risk of any loss,theft,destruction or damage(cumulatively'Loss or Damage")to the Property or any portion thereof from any case whatsoever. In the event of any Loss or Damage,Mortgagor shall,at the option of Lender,repair the affected Property to its previous condition or pay or cause to be paid to Lender the decrease in the fair market value of the affected Property. 13. INSURANCE The Property will be kept insured for its full value against all hazards Including loss or damage caused by fire,collision,theft or other casualty. Mortgagor may obtain insurance on the Property from such companies as are acceptable to Lender In Its sole discretion. The insurance policies shall require the insurance company to provide Lender with at least thirty(30)days'written notice before such policies are altered or cancelled In any manner. The insurance policies shall name lender as a loss payee and provide that no act or omission of Mortgagor or any other person shall affect the right of Lender to be paid the insurance proceeds pertaining to the loss or damage of the Property. In the event Mortgagor fails to acquire or maintain insurance,Lender(after providing notice as may be required by law)may In Its discretion procure appropriate insurance coverage upon the Property and charge the Insurance cost as an advance of principal under the promissory note. Mortgagor shall furnish Lender with evidence of insurance indicating the required coverage. Lender may act as agent or attorney-in-fact for Mortgagor in making and settling claims under insurance policies,cancelling any policy or endorsing Mortgagor's name on any draft or negotiable instrument drawn by any insurer. In the event of foreclosure of this Mortgage or other transfer of title to the Property in extinguishment of the debt secured hereby,all right,title,and interest of the Mortgagor In and to the proceeds for any loss and to any insurance policies then in force shall pass to the purchaser or grantee,regardless of whether or not there is a deficiency judgment after foreclosure _ sale or nonjudicial foreclosure. 14. ZONING AND PRIVATE COVENANTS. Mortgagor shall not initiate or consent to any change in the zoning provisions or private covenants affecting the use of the Property without Lender's prior written consent. lt Mortgagor's use of the Property becomes a nonconforming use under any zoning provision, Mortgagor shall not cause or permit such use to be discontinued or abandoned without the prior written consent of Lender, Mortgagor will Immediately provide Lender with written notice of any proposed changes to the zoning provisions or private covenants affecting the Property. 15. CONDEMNATION. Mortgagor shall immediately provide Lender with written notice of any actual or threatened condemnation or eminent domain proceeding pertaining to the Property. All monies payable to Mortgagor from such condemnation or taking are hereby assigned to Lander and shall be applied first to the payment of Lender's attorneys'fees,legal expenses and other costs(including appraisal fees)in connection with the condemnation or eminent domain proceedings and then,at the option of Lender,to the payment of the Obligations or the restoration or repair of the Property. 16. LENDER'S RIGHT TO COMMENCE OR DEFEND LEGAL ACTIONS. Mortgagor shall Immediately provide Lender with written notice of any actual or threatened action,suit,or other proceeding affecting the Property. Mortgagor hereby appoints Lender as its agent or attorney-in-fact to commence, intervene in,and defend such actions,suits,or other legal proceedings and to compromise or settle any claim or controversy pertaining thereto. Lender shalt not be liable to Mortgagor for any action,error,mistake,omission or delay pertaining to the actions_described In this paragraph or any damages resulting therefrom. Nothing contained herein will prevent Lender from taking the actions described in this paragraph in its own name. Mortgagor shall cooperate and assist Lender in any action hereunder. 17. INDEMNIFICATION. Lender shall not assume or be responsible for the performance of any of Mortgagor's Obligations with respect to the Property under army circumstances. Mortgagor shall immediately provide Lender and its shareholders,directors,officers,employees and agents with written notice of and indemnity and hold Lender harmless horn all claims,damages.liabilities(including attorneys'fees and legal expenses),causes of action,actions, suits and other legal proceedings(cumulatively'Claims'pertaining to the Property(including,but not limited to,those involving Hazardous Materials). Mortgagor,upon the request of Lender,shall hire legal counsel acceptable to Lender to defend Lender from such Claims,and pay the attorneys'fees,legal expenses and other costs incurred in connection therewith. In the alternative,Lender shall be entitled to employ its own legal counsel to defend such Claims at Mortgagor's cost. IS. TAXES AND ASSESSMENTS. Mortgagor shall pay all taxes and assessments relating to Property when due. Upon the request of Lender, Mortgagor shall deposit with Lander a periodic sum In an amount determined by Lander as necessary to pay insurance premiums,taxes and assessments pertaining to the Property. These amounts shall be applied to the payment of taxes,assessments and insurance as required on the Property. 19. INSPECTION OF PROPERTY,BOOKS,RECORDS AND REPORTS. Mortgagor shall allow Lender or its agents to examine and inspect the tV Properly and examine,Inspect and make copies of Mortgagor's books and records pertaining to the Property from time to time. Mortgagor shall provide any assistance required try Lender for these purposes. All of the signatures and information contained In Mortgagor's books and records shall be genuine, true,accurate and complete in alt respects. Mortgagor shall note the existence of Lender's beneficial interest in its books and records pertaining to the L Property. Additionally,Mortgagor shall report,in a torsuch n satisfactory to Lender,suinformation as Lender may request regarding Mortgagor's financial _ condition or the Property. The information shall be for such periods,shall reflect Mortgagor's records at such time,and shall be rendered with such .� Z frequency as Lender may designate. All information furnished by Mortgagor to Lender shall be true,accurate and complete in all respects. I 20. ESTOPPEL CERTIFICATES. Within ten(10)days after any request by Lender,Mortgagor shall deliver to Lender,or any intended transferee of Lender's rights with respect to the Obligations,a signed and acknowledged statement specifying(a)the outstanding balance on the Obligations;and(b) C) whether Mortgagor possesses any claims,defenses,setoffs or counterclaims with respect to the Obligations and,if so,the nature of such claims, defenses,set-offs or counterclaims. Mortgagor will be conclusively bound by any representation that Lender may make to the intended transferee with - 0 respect to these matters In the event that Mortgagor falls to provide the requested statement in a timely manner. t73 21. DEFAULT. Mortgagor shall be in default under this Mortgage in the event that Mortgagor or Borrower: N (a) commits fraud or makes a material misrepresentation at any time in connection with the Obligations or this Mortgage,Including,but not limited to,false statements made by Mortgagor about Mortgagor's income,assets,or any other aspects of Mortgagor's financial condition; (b) fails to meet the repayment terms of the Obligations;or (c) violates or fails to comply with a covenant contained in this Mortgage which adversely affects the Property or Lender's rights in the Property, including,but not limited to,transferring title or selling the Properly without Lender's consent failing to maintain insurance or to pay taxes on the Property,allowing a lien senior to Lender's to result on the Property without Lender's written consent,allowing the taking at the Property through eminent domain,allowing the Property to be foreclosed by a lienholder other than Lender,committing waste of the Properly,using the Property in a manner which would be destructive to the Property,or using the property in an illegal manner which may subject the Property to seizure or confiscation. Any of the foregoing shall constitute a default that materially Impairs the condition,value,or the Lender's right in the Property,and shall evidence a determine at one material impairmentdrheof the Borrower'sumr prospect opaying agreObligations. srthat oreinstatement of theObligations brshall be or more of Mortgagor's sole e em dynot and Mortgagor default under the Iowa Consumer Credit Code,Mortgagorg shall not be entitled to any damages by reason of Lender's exercise of any of its remedies herein. 22. RIGHTS OF LENDER ON DEFAULT. If there is a default under this Mortgage,Lender shall be entitled to exercise one or more of the following remedies without notice or demand(except as required by law): (a) to terminate or suspend further advances or reduce the credit limit under the promissory notes or agreements evidencing the Obligations: (b) to declare the Obligations immediately due and payable in full; (c) to collect the outstanding Obligations with or without resorting to judicial process; (d) to require Mortgagor to deliver and make available to Lender any personal property constituting the Property at a place reasonably convenient to Mortgagor and lender, H I B (e) to take immediate possession,management and control of the Property without seeking the appointment of a receiver; • (t) to collect all of the rents,Issues,and profits horn the Property from the date of default through the expiration of the last redemption following the foreclosure of this Mortgage; _- 2253 ?AGE 28 .-.. _ .,...,,.... ,....o.i...00 Page 201'4 erg) to apply for and obtain prior to commencer 'suit or thereafter without notice and upon ex parte application tppolntment of a x receiver for the Property without regard to Mortga inanclal condition or solvency,the adequacy of the Property to •the payment or m • petforance of the Obligations,or the existence of .caste to the Property,and Mortgagor waives Mortgagor's right to Fstatutory sion, o otherwise,and the right to challenge the appointment of a receiver; • (h) to foreclose this Mortgage by judicial proceedings or,unless prohibited by law,by applicable nonjudidal proceedings; (t) to set-off Mortgagor's Obligations against any amounts due to Lender including,but not limited to,monies,instruments,and deposit accounts maintained with tender;and I)) to exercise all other rights available to Lender under arty other written agreement or applicable law. Lender's rights are cumulative end maybeexercised together, in separately,do against order. In the Mortgagor,Mortgeagor nt that the posting of an bond waction hich might ight the recovery of any of the Property by way prejudgment y otherwise be required. 23. REDEMPTION PERIOD. Mortgagor hereby agrees that in the event of judicial foreclosure of this Mortgage,Lender may,at its sole option,elect: (a) Pursuant to Iowa Code§62826 as now enacted or hereafter modified,amended or replaced,to reduce the period of redemption after sale on foreclosure to six months,or (b) Pursuant to Iowa Code§62827 as now enacted or hereafter modified,amended or replaced,to reduce the period of redemption after sale on foreclosure to sixty days,or (c) Pursuant to Iowa Codes 678.28 as now enacted or hereafter modified,amended or replaced,or any other Iowa Code Section,to reduce the period of redemption after sale on foreclosure to such time as may be then applicable and provided by law,or (d) Pursuant to Iowa Code§65420 as now enacted or hereafter modified,amended or replaced,to foreclose without redemption. 24. WAIVER OF HOMESTEAD AND OTHER EXEMPTIONS. Mortgagor hereby waives all homestead or other exemptions to which Mortgagor would otherwise be entitled under any applicable law and waives all rights of dower and distributive share in the Property. 25. REIMBURSEMENT OF AMOUNTS EXPENDED BY LENDER. Upon demand,Mortgagor shall immediately reimburse Lender for all amounts (except attorneys'fees and legal expenses)expended by Lender In the performance of any action required to be taken by Mortgagor or the exercise of any right or remedy of Lender under thisrModgage,together with•irrterest thereon at the lower of the highest rate described in any Obligation or the highest rate allowed by law from the date of paritent until the date of reimbursement. These sums shall be Included in the definition of Obligations herein and shall be secured by the interest granted ere' t • 26. APPLICATION OF PAYMENTS. Ni payments made by or on behalf of Mortgagor may be applied against the amounts paid by Lender(except attorneys'fees and legal expenses)in connection with the exercise of its rights or remedies described in this Mortgage and then to the payment of the - remaining Obligations in whatever order Lender chooses. 27. POWER OF ATTORNEY. Mortgagor hereby appoints Lander as its agent or attorneyan-fact to endorse Mortgagor's name on all instruments and other documents pertaining to the Obligations. In addition,Lender shall be entitled,but not required,to perform any action or execute any document required to be taken or executed by Mortgagor under this Mortgage. Lender's performance of such action or execution of such documents shall not relieve - Mortgagor from any Obligation or cure any default under this Mortgage. The powers of attorney described In this paragraph are coupled with an interest and are Irrevocable. Notwithstanding the foregoing.Lender is not entitled to confess judgment on any claim on behalf of Mortgagor. 28. SUBROGATION OF LENDER. Lender shall be subrogated to the rights of the holder of any previous lien,security interest or encumbrance discharged with funds advanced by Lender regardless of whether these liens,security Interests or other encumbrances have been released of record. 29. COLLECTION COSTS. If Lender hires an attorney to assist in collecting any amount due or enforcing any right or remedy under this Agreement, Mortgagor agrees to pay Lender's collection costs,other than attorneys'fees. 30. PARTIAL RELEASE. Lender may release Its Interest in a portion of the Property by executing and recording one or more partial releases without affecting its interest in the remaining portion of the Property. 31. MODIFICATION AND WAIVER. The modification or waiver of any of Mortgagor's Obligations or Lender's rights under this Mortgage must be contained in a writing signed by Lender. Lender may perform any of Mortgagor's Obligations or delay or fail to exercise any of its rights without causing a waiver of those Obligations or rights.-A waiver on one occasion shall not constitute a waiver on any other occasion. Mortgagor's Obligations under this Mortgage shall not be affected if Lender amends,compromises,exchanges,fails to exercise,impairs or releases any of the Obligations belonging to any Mortgagor,third party or any of its rights against any Mortgagor,third party or the Property. 32. SUCCESSORS AND ASSIGNS. This Mortgage shall be binding upon and inure to the benefit of Mortgagor and Lender and their respective successors,assigns,trustees,receivers,administrators,personal representatives,legatees and devisees. 33. NOTICES. Any notice or other communication to be provided under this Mortgage shall be in writing and sent to the parties at the addresses described in this Mortgage or such other address as the parties may designate in writing from time to time. 34. SEVERABILITY. If any provision of this Mortgage violates the law or is unenforceable,the rest of the Mortgage shall continue to be valid and enforceable. 35. APPLICABLE LAW.This Mortgage shall be governed by the laws of the state In which the property is located. 36. MISCELLANEOUS. Mortgagor and Lender agree that time is of the essence. Mortgagor waives presentment,demand for payment,notice of dishonor and protest except as required by law. All references to Mortgagor In this Mortgage shall include all persons signing below. If there is more than one Mortgagor,their Obligations shall be joint and several. This Mortgage and any related documents represent the complete integrated understanding between Mortgagor and Lender pertaining to the terms and conditions of those documents. 37. ADDmONAL TERMS. NOTICE TO CONSUMER: 1. DO NOT SIGN THIS PAPER BEFORE YOU READ R. 2. YOU ARE ENTITLED TO A COPY OF THIS PAPER. 3. YOU MAY r-- PREPAY t� PREPAY THE UNPAID BALANCE AT ANYTIME WITHOUT PENALTY AND MAY BE ENTITLED TO RECEIVE A REFUND OF UNEARNED CHARGES INO� ACCORDANCE WITH LAW. Mortgagor acknowledges that Mortgagor has read,understands,and agrees to the terms and conditions of this Mortgage,and that Mortgagor has received an exact copy of this Mortgage. Dated: APRIL 7, 1997 _r1 >t • - •. e,ri.- .e. i •: M lir :e;EL.At Mit GAGORJORN RN G SCHNOEBELSN • MORTGAGOR MORTGAGOR EXHIBIT cJ PAG 3el. LP- •Tali 8 FonMaon Technobg Inc.rr/te/931 (fl a37-3766 ❑AGRICULTURAL HOMESTEAD DISCLOSURE: JRTGAGOR UNDERSTANDS THAT HOMESTEAD PF .7..RTYIS IN MANY CASES PROTECTED FROM CLAIMS OF CREDITORS AND EXEMPT FROM JUDICIAL SALE;AND THAT BY SIGNING THIS CONTRACT, MORTGAGOR VOLUNTARILY GIVES UP GRANTOR'S RIGHT TO THIS PROTECTION FOR THIS PROeERTY WITH RESPECT TO CLAIMS BASED UPON THIS CONTRACT. MORTGAGOR DATE: MORTGAGOR. _ DATE DATE: DATE: MORTGAGOR: MORTGAGOR STATE OF A ) SS: COUNTY OF 3O N N..9:70/ On this 7 TI{- day of A-P (- (�7 before me,the undersigned,a Notary Public In and for said county and state, personally appeared To14•R( a S /1/il&BEL rV Ait/1.) k/i err F/1l M SCI4WP. 1- hmmmBaArq 4-A/r) Hlli`� to me personally known to be the identical person named in and who executed the within and foregoing Instrument,and acknowledged that he[she) executed the same as his[her]voluntary act and deet__ OICIASEAL r • CARLA DUGGAN _ , a / •Yo:R•• Notary Public-Iowa r J�i •�f 4,1"1-* Notary Public 175910 My Comm.Exp..Lap,.6,1997 in and for said County and• :to STATE OF ) SS: COUNTY OF On this -- day of ,before me,the undersigned,a Notary Public In and for said county and state. personally appeared to me personally known to be the identical person named In and who executed the within and foregoing instrument,and acknowledged that he(she] executed the same as his[her]voluntary act and deed. ,Notary Public in and for said County and State r:1 t.'. p The street address of the Property(if applicable)is: 18 MONTROSE AVE IOWA CITY, IA 52245 The permanent tax identification number of the Property is: The legal description of the Properly is: LOT 5, IN WEST BEL AIR ADDITION TO IOWA CITY, IOWA, ACCORDING TO TEE PLAT THEREOF RECORDED IN BOOK 4, PAGE 333, PLAT RECORDS OF JOHNSOAICOUNTY, IOWA. O D n0 _ —1 0 "O r FIRST NATIONAL BANK '` 2253 ?AG( 30 BOX 11880,204 E WASHINGTON IOWA CITY,IA 52240 EXHIBIT P PAGE„ 11 LP.IMOe OFonMtton Technolognee,Inc.p/1Bfes) (eoo)6373799 Page nxO _ INUeb 30-DAY NOTICE OF RIGHT TO CURE DEFAULT TO: John G. Schnoebelen 18 Montrose Avenue Iowa City, IA 52245 Kathleen M. Schnoebelen 18 Montrose Avenue Iowa City, IA 52245 '= ; _1 RE PROPERTY AT: 18 Montrose Avenue '% Iowa City, IA 52245 CREDITOR: U.S. Bank National Association Attn: Michele Fairbanks 200 S. 6th Street EP-MN-L22F — Minneapolis, MN 55402-1403 *n c- a 11 LOAN/ACCT#: 61629400005 n '— r' •o �r m CREDIT m 0 TRANSACTION: YES g "� > o You are now in default on this credit transaction. You have a right to correct this default during U.S. Bank National Association's normal business hours, at any time on or before May 10, 2008, the "Cure Date." If you do so, you may continue with the loan and mortgage transaction as though you did not default. Your loan is past due and you are in default for the following amounts: Description Amount 31 Payments 12/07/07-04/07/08 $366.8 IBPO $115.00( 1Title Work $85.00 Inspections $75.00 'Attorney's Fees & Costs* $500.00 'Total _ $1,141.83* *Attorney's Fees&Costs-Upon expiration of this 30 Day Notice,please contact the undersigned for attorney's fees and costs. You may correct your default or defaults on or before May 10, 2008, by: a)paying the sum of$1,141.83*to the above-named Creditor on or before said Cure Date. This amount of default will increase by a rate of $1.99999 per day, if not then paid in accordance with the terms of the mortgage, and any cure of the payment delinquency after that date, but before the Cure Date, must include any such additional unpaid amount; EXHIBIT • b) curing all breaches of any other of your covenants or agreements contained in the mortgage as noted above; c)paying to the above-named Creditor on or before said Cure Date all reasonable expenses incurred by U.S. Bank National Association in enforcing your covenants and agreements contained in the mortgage and in enforcing U.S. Bank National Association remedies provided under the mortgage, including, but not limited to, reasonable attorney's fees, if noted above; and (d)taking such action as U.S. Bank National Association may reasonably require to assure that the lien of the mortgage, U.S. Bank's interest in the property, and your obligation to pay the sums secured by the mortgage shall continue unimpaired, if noted above. Your failure to correct your default or defaults on or before May 10, 2008, the Cure Date stated above, may result in acceleration of the sums secured by the mortgage, foreclosure by judicial proceeding, and sale of the real property located at 18 Montrose Avenue,Iowa City, IA 52245 on which the mortgages has been placed. If U.S. Bank National Association accelerates the sums secured by the mortgages, you may avoid entry of ajudgment enforcing the mortgage if(a) you pay U.S. Bank National Association all sums which would be then due under the mortgage, the note, and notes securing future advances, if any; and (b) you pay all reasonable expenses incurred by U.S. Bank National Association in enforcing your covenants and agreements contained in the mortgage and in enforcing U.S. Bank National Association's remedies provided under the mortgage, including, but not limited to, reasonable attorney's fees. Additionally, you have the right to assert in any foreclosure proceeding the nonexistence of a default or any other defense to acceleration and foreclosure that you may have. This law firm is a debt collector attempting to collect a debt and any information obtained will be used for that purpose. Dated: April 10, 2008 .. U.S. B- e' al A's i m By: Thomas H. Burke WHITFIELD & EDDY, P.L.C. n c! 317 Sixth Avenue, Suite 1200 > Des Moines, IA 50309-4195 — y® Telephone: (515) 288-6041 n iTi O EXHIBIT C PAGE ___- • - • CERTIFICATION OF MAILING NOTICE TO CURE The undersigned states that on the 10th day of April, 2008, that(s)he personally mailed to each of the following named person(s), a copy of said Notice by ordinary mail and certified mail, each such Notice being mailed in a sealed envelope with proper postage thereon, addressed to said persons respectively at their address(es) as shown above, by depositing the same on said date in a United States Post Office receptacle: John G. Schnoebelen 18 Montrose Avenue Iowa City, IA 52245 Kathleen M. Schnoebelen 18 Montrose Avenue Iowa City, IA 52245 Gina 9 inne LATHB\Foimn70 DAY NOTICB.vpd O o D- 2 al 0 7j N O LXhI3Il C PAGE,, END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE • PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540 • (319) 356-6030 PLAINTIFF: US BANK Docket No i08-04071 1 State IIOWA vs Court No tEQCV069576 County JOHNSON DEFENDANT: SCHNOEBELEN, JOHN G Ref No I Received 07/10/2008 DEFENDANT: SCHNOEBELEN, KATHLEEN M DEFENDANT: CITY OF IOWA CITY DEFENDANT: DENNY, BARBARA J DEFENDANT : SPOUSE OF DENNY, BARBARA J DEFENDANT: FAVOURITE, LARRY T DEFENDANT: SPOUSE OF FAVOURITE, LARRY T Requestor(s) Phone SARCONE,JAMES V JR (515) 283-4624 Name CITY OF IOWA CITY Party Type DEFENDANT Address 410 E WASHINGTON ST IOWA CITY IA 52240- Phone (319)356-5030 E-Mail Fax Employer [_ Zone J _ Comments L Documents Document Serve by Date OE PSR Description/Special Instructions ORIGINAL NOTICE AND— I — II El -- _--__. PETITION Service Information Attempts Log Date Time Server Notes rrL Date ) C Time I i 0 Type COV Party / /6(rIl1r► Kai( Relationship Race `3f Sex r- DOB Location 0 Lt t J�.115 4," Miles \ Fee Officer Notes: a-7 -n -1 C) o r m m oM 0 IV Printed:Thursday,July 10, 2008 Page 1 of 1 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY Co US BANK,N.A. ) EQUITY NO. (QQV ccog 5- Plaintiff ) ) v. ) ORIGINAL NOTICE JOHN G. SCHNOEBELEN; KATHLEEN M. ) SCHNOEBELEN;U.S.BANK,N.A., SUCCESSOR ) BY MERGER TO FIRST NATIONAL BANK ) IOWA; CHASE MORTGAGE SERVICES,INC. • F/K/A CHASE MANHATTAN MORTGAGE )y c —n CORPORATION;CITY OF IOWA CITY, IOWA; i..� — UNIFUND CCR PARTNERS; BARBARA J. ) LI n o DENNY; SPOUSE OF BARBARA J. DENNY; rn o LARRY T.FAVOURITE; SPOUSE OF LARRY T. ) FAVOURITE; ) N Defendants. ) • ) ) TO THE ABOVE-NAMED DEFENDANTS: You are notified that a petition has been filed in the office of the clerk of this court naming you as the Defendants in this action. A copy of the petition, and any documents filed with it, is attached to this notice. The name and address of the Plaintiffs attorney is James V. Sarcone, Jr., Belin Law Firm, The Financial Center, 666 Walnut Street Suite 2000, Des Moines, Iowa 50309-3989. The attorney's phone number is 515-283-4624; facsimile number 515-283-4653. You must serve a motion or answer within twenty (20) days after service of the Original Notice upon you. Within a reasonable time thereafter you must file your motion or answer with the Clerk of Court for Johnson County, at the County Courthouse in Iowa City, Iowa. If you do not, judgment by default may be rendered against you for the relief demanded in the Petition. If you require the assistance of auxiliary aids or services to participaitra court because of a disability, immediately call your district ADA coordinator at 319-398-3920 ext. 274. (If you are hearing impaired,call Relay Iowa TTY at 1-800-735-2943.) LODEMA BERKLEY LC C1'V� (Cif r a ) 0a44,LI -C) G/ CLE F THE ABOVE COURT ' —j r.Cx_/1( � , IMPORTANT: YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY O�51(0 US BANK,N.A. ) EQUITY NO. P ( 0)J 96 7 Plaintiff ) 0 p Im � L_ V. ) PETITION(FOR MORTGA ) FORECLOSURE AND REC R) t _--` JOHN G. SCHNOEBELEN;KATHLEEN M. n�; SCHNOEBELEN;U.S. BANK,N.A., SUCCESSOR ) BY MERGER TO FIRST NATIONAL BANK ) n IOWA; CHASE MORTGAGE SERVICES,INC. ) 22 F/K/A CHASE MANHATTAN MORTGAGE ) J CORPORATION;CITY OF IOWA CITY, IOWA; ) UNIFUND CCR PARTNERS;BARBARA J. ) DENNY; SPOUSE OF BARBARA J.DENNY; ) LARRY T.FAVOURITE; SPOUSE OF LARRY T. ) O A FAVOURITE; ) __ n 1-1Defendants. ) n . ) fn o m C7 N D — COMES NOW the Plaintiff and for cause of action against the Defendants,the Plaintiff states NOTICE THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION. THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE COURT A WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND, THE SALE WILL BE DELAYED UNTIL TWELVE MONTHS (OR SIX MONTHS IF THE PETITION INCLUDES A WAIVER OF DEFICIENCY JUDGMENT)FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS YOUR RESIDENCE BUT NOT A ONE-FAMILY OR TWO-FAMILY DWELLING. YOU WILL HAVE NO RIGHT OF REDEMPTION AFTER THE SALE. THE PURCHASER AT THE SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY PURCHASE AT THE SALE. PURCHASER AT THE SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY PURCHASE AT THE SALE. 1. That Plaintiff is a foreign corporation; Defendants John G. Schnoebelen, Kathleen M. Schnoebelen, Barbara J. Denny, Spouse of Barbara J. Denny, Larry T. Favourite and Spouse of Larry T. Favourite are natural persons last known to reside in Johnson County, Iowa; Defendant City of Iowa City, Iowa is a political subdivision of the State of Iowa; remaining Defendants are corporations doing business • in the State of Iowa. 2. That on or about the 7th day of April, 1997, the Defendants, John G. Schnoebelen and Kathleen M. Schnoebelen made, executed and delivered to First National Bank Iowa one certain Promissory Note in writing bearing the date aforesaid in the p,incipal sum of $0,000.00 bearing interest at the rate of 7.75 percent per annum after maturity,and Exhibit"A"hereto attached and by this reference incorporated herein and made a part hereof is a true and correct copy of said Promissory Note. 3. That at the time of the execution of said Promissory Note, Exhibit"A" aforesaid, and as a part of the same transaction for the purpose of securing said Note with interest thereon and other sums hereinafter mentioned, the said Defendants, John G. Schnoebelen and Kathleen M. Schnoebelen made, executed and delivered to First National Bank Iowa one certain Mortgage in writing, transferring and conveying unto First National Bank Iowa the following real estate situated in Johnson County, Iowa, to- wit: Lot 5, in West Bel Air Addition to Iowa City, Iowa,according to the Plat a thereof, recorded in Book 4, Page 333, Plat Records of Johnson Copnty, 0 c_ Iowa. p -fl nr— and Exhibit"B"hereto attached and by this reference incorporated herein and made a part heip is Rue y' - m and correct copy of said Mortgage. 3 7 4. That on April 14, 1997, the said Mortgage was duly recorded in Book 2252 Page 88, of the records of the office of the Recorder of Johnson County,Iowa. 5. U.S. Bank,N.A. is successor by merger to First National Bank Iowa. 6. That the said Defendants, John G. Schnoebelen and Kathleen M. Schnoebelen, have defaulted in the monthly payment of interest and principal and have neglected and failed to pay the installments as provided in the written instrument aforesaid and are now in default of the said payments for several months last past, and the Plaintiff does now elect to and hereby does declare the whole of said Note and Mortgage due and payable forthwith. 7. That the balance due on said Note and Mortgage as of June 12,2008, is $71,698.11, including principal and interest and advancements, after allowing due credit to the Defendants for all payments made. 8. That in the preparation of this Petition and cause of action for presentation to the Court, it was necessary for Plaintiff to employ an attorney to represent and serve it herein, and for this purpose Plaintiff has retained and employed Belin Lamson McCormick Zumbach Flynn, A Professional Corporation,Attorneys at Law of this Court. 9. That the Plaintiff is willing and now offers, upon payment of the amount due it as heretofore set forth, to cancel the Note declared on, discharge of record the Mortgage securing the same, and to do all things that equity and good conscience may require of it. 10. That the Plaintiff has been made to incur the expense in the sum of$231.00 for continuing the abstract of title to the mortgaged premises, which is the reasonable charge for same. 11. That the Defendants herein have or claim to have some lien upon or interest in the mortgaged premises, but the Plaintiff avers that whatever lien or interest they or any of them may have thereon or herein, the same is junior and inferior to the lien of Plaintiff's Mortgage, Exhibit dB" and the amounts hereinbefore set out. O 12. That Plaintiff waives its rights to a deficiency judgment in this matter. 0 el M13. That a Notice of Right to Cure Default was mailed to the Defendants John G. 6Chnoebelen _m —o and Kathleen M. Schnoebelen, more than 30 days prior to the filing of this foreclosure actionlr,ptionid the defaults set out therein have not been cured. — 14. US Bank, N.A., successor by merger to First National Bank Iowa is included as a Defendant herein because of a mortgage in the sum of$16,000.00 covering the above property executed in its favor by John G. Schnoebelen and Kathleen M. Schnoebelen and recorded April, 15 1997 in Book 2253, Page 27 of the Johnson County, Iowa records. 15. Chase Mortgage Services Inc. f/k/a Chase Manhattan Mortgage Corp, Barbara J. Denny, Spouse of Barbara J. Denny, Larry T. Favourite and Spouse of Larry T. Favourite are included as Defendants herein because of a mortgage in the sum of $168,500.00 covering the above property executed in favor of Chase Manhattan Mortgage Corporation by Barbara J. Denny and Larry T. Favourite, and recorded November, 12 2003 in Book 3665, Page 621 of the Johnson County, Iowa records. Plaintiff asserts this mortgage is a stray mortgage and these Defendants have no interest in the above property. 16. City of Iowa City, Iowa is included as a Defendant herein because of the following judgments: (a)judgment entered October 23, 2003 in CISC057835 against Kathleen Marie Schnoebelen and John Gerald Schnoebelen in favor of the City of Iowa City, Housing in the amount of$250.00 plus costs and an additional judgment entered March 17, 2004, in the amount of$642.62; (b)judgment entered October 21, 2004 in CISC060269 against John Gerald Schnoebelen in favor of the City of Iowa City, in the amount of$50.00 costs; and(c)judgment entered April 25, 2006 in CISC064197 against John Gerald Schnoebelen in favor of the City of Iowa City, Iowa in the amount of$500.00 plus costs. 17. Unifund CCR Partners is included as a Defendant herein because of the following judgments: (a)judgment in the amount of$2,940.01 plus interest and costs entered May 2, 2008 in LACV069087 against John Gerald Schnoebelen; and (b) judgment entered May 6, 2008 in SCSC069321 against Kathleen Marie Schnoebelen in the amount of$4,852.74 plus interest and costs. p / -fin c, WHEREFORE,Plaintiff prays: D --n FIRST: That a Receiver be appointed by the Court to take immediate possessk 1 of cute r— :cr rn mortgaged premises hereinbefore described, with power and authority and the duty to VI rer, ❑ maintain and insure the premises,buildings and other improvements thereon;to lease the sam4:aand co#ect the rents, issues and profits arising which may be had therefrom, and to retain and dispose of said rents and profits as said Mortgage provides and as the Court may hereafter determine and direct. SECOND: (a) That the Plaintiff have judgment in rem, against the mortgaged premises in the sum of$71,698.11 with interest at 7.75 percent from June 12, 2008, and have such additional sum of sums as may hereafter be advanced for continuing the abstract of title or other purposes authorized by said Note and Mortgage and by Iowa law. (b)For reasonable attorney's fees upon the Note, interest and other sums advanced by the Plaintiff as set out above, and for the costs of this action. THIRD: That said judgment be declared to be a lien upon the mortgaged premises involved herein from and after the date of execution of said Mortgage,Exhibit"B",to-wit,April 7, 1997, and upon the rents, issues and profits arising and which may be had therefrom from and after the date of filing of this Petition, and that said lien be declared to be prior and paramount to the lien and interest of the Defendants upon and in the said property. FOURTH: That Plaintiff's Mortgage aforesaid, Exhibit"B", be foreclosed, and that a special execution issue for the sale for the mortgaged premises, or so much thereof as may be necessary to satisfy the said judgment with interest and costs. FIFTH: That in the event the property aforesaid does not sell for sufficient to satisfy the judgment herein, the net proceeds from the rents, issues and profits which may be had therefrom, from and after this date, be applied upon said judgment until the same is fully satisfied. SIXTH: That after the Sheriff's sale of the above described premises pursuant to a special execution issued herein, a Writ of Possession issue herein under seal of this Court directed to the Sheriff of Johnson County, Iowa, commanding him to put the Grantee under Sheriff's Deed in possession of the premises deeded to him, and to remove any Defendants, or persons claiming by, through or under any of them,or any person in possession thereof,out of such possession of said premises. SEVENTH: That Plaintiff have such other and furthdr relief as the Couft may find it to be entitled to in equity. BELIN LAMSON McCORMICK ZUMBACH FLYNN,A Professional Corporation BY ..fir3-j) J S V. SARCONE,JR. 1} Py1O` The Financial Center yMO1 666 Walnut Street Suite 2000 )11:43`10 A119Des Moines,IA 50309-3989 ,.i, Telephone: 515-243-7100 . 0 7fl1 `0�t. AT0006913 D:1Firstar\Schnoebelen\Petset.Doc cafe Loan # 3331-120-6 ADJUSTABLE RATE NOTE (3 Year Treasury Index-Rate Caps) THIS NOTE CONTAINS PROVialONS LLOWING FOR CHANGES IN MY INTEREST RATE AND MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT MY INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I MUST PAY. - err'.S 'i-nor, Li//)11'7 APRIL 7, 1997 IOWA CITY IOWA— [Date) ru [City] [Ste 0 e 18 Montrose Ave D Iowa City, IA 52245 n — r (Property Address) -i r O _m MrI. BORROWER'S PROMISE TO PAY O x In return for a loan that I have received, I promise to pay U.S.$ 80,000.00 (thi`e�mount iitt called "principal"),plus interest, to the order of the Lender. The Lender is FIRST NATIONAL BANK IOWA > I understand that the Lender may transfer this Nbte. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Noce is called:::the"Note Holder." 2. INTEREST Interest will be charged on unpaid prin 'ial un ii the full amount of principal has been paid. I will pay interest at a yearly rate of 7.750 %. The inter, ill pay will change in accordance with Section 4 of this Note. ' `*'a •. The interest rate required by Eh' - ion 4 of this Note is the rate I will pay both before and after any default described in Section 7(8)of thi ,te. 3. PAYMENTS fir D (A)Time and Place of Payments I will pay principal and interest by making payments eve .nth. I will make my monthly payments on the first day of each month beg' on JUNE, 1997 I will make these payments every month until I hale paid all of the princip and interst and any other charges described below that I may owe under this Note. My monthly payments will be applied to interest before principal. If, on MAY 1, 2027 ,I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the"Maturity Date." I will make my monthly payments at 204 E WASHINGTON STREET, IOWA CITY, IA 52240 or at a different place if required by the Note Holder. (B) Amount of My Initial Monthly Payments Each of my initial monthly payments will be in the amount of U.S.$ 573.13 .This amount may change. (C) Monthly Payment Changes Changes in my monthly payment will reflect changes in the unpaid principal of my loan and in the interest rate that I must pay. The Note Holder will determine my new interest rate and the changed amount of my monthly payment in accordance with Section 4 of this Note. 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of MAY, 2000 , and on that day every 36th month thereafter. Each date on which my interest rate could change is called a "Change Date." MULTISTATE ADJUSTABLE RATE NOTE 3 YEAR ARM-Single Family-Fannie Mae/Freddie Mac Uniform Instrument Form 3504 7/88 .862 VMP MORTGAGE FORMS-(313)293-8100-(800)521.7291 O FM3504/4-28.92 Distributed by FORMATION TECHNOLOGIES,INC..(800)937-3799 Page 1 of 4 (B) The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index"is the weekly average yield on United States Treasury securities adjusted to a constant maturity of 3 years, as made available by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each Change Date is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. (C) Calculation of Changes • Before each Change Date, the Note Holder willcalculate my new interest rate by adding THREE AND No/1000 percentage point(s) ( 3.000 %) to the Current Index. The Note Holder will then round; the result of this addition to the nearest one-eighth of one percentage point (0.125%).Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially • equal payments. The result of this calculation will be the new amount of my monthly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than, 9,750 % or less than 5.750 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than two percentage points (2.0%) from the rate of interest I have been paying for the preceding 36 months. My interest rate will never be greater than 13.750 %. (E) EffectiveDate of Changes . —— My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in.my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information`required by law to be given me and also the title and telephone number of a person who will answer any'question I'pnarhave regarding the notice. 5. BORROWER'S RIGHT TO PREPAY I have the right to make payments of principal at any time before they are due. A payment of principal only is known as a "prepayment." When I make a prepayment, I will tell the Nbtt Holder in writing that I am doing so. I may make a full prepayment or partial prepayments without paying any prepayment charge. The Note Holder will use all of my prepayments to reduce the amount of principal that I owe under this Note. If I make a partial prepayment, there will be no changes in the due dates of my monthly payments unless the Note Holder agrees in writing to those changes. My partial prepayment may reduce the amount of my monthly payments after the first Change Date following my partial prepayment. However, any reduction due to my partial prepayment may be offset by an interest rate increase. 6. LOAN CHARGES If a law,which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits,then: (i) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit;?rid (ii) any sums already collected from me which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the principal I owe under this Note or by making a direct payment to me. If a refund reduces principal, the reduction will be treated as a partial prepayment. 7. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late Charges for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of 10 calendar days after the date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be — 5,0 o% of my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late patent. o0 o� --I0 o r- r— m 1.17 o� D C®FM350413/4-2e.92 Page 2 of 4 9 Form 9364 7/88 A) • (B) Default If I do not pay the full amount of each monthly payment on the date it is due, I will be in default. (C) Notice of Default If 1 am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the full amount of principal which has not been paid arm all the interest that I owe on that amount. That date must be at least 30 days after the date on which the notice is delivered or mailed to me. (D) No Waiver by Note Holder Even if,at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above, the Note Holder will still have the right to do so if I am in default at a later time. _ (E) Payment of Note Holder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above,the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include, for example, reasonable attorneys' fees. 8. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I Rive the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a differeri address if I am given a notice of that different address. 9. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 10.WAIVERS I and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor. "Presentment" means the right to require the Note Holder.to demand payment of amounts due. "Noticeof dishonor"means the right to require the Note Holder to give notice.to other persons that amounts due have not been paid.- - 11.UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust or Security Deed (the "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses which might result if I do not keep the promises that I make in this Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follov/s: Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may,at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not exercise this option if:(a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) nderpog reasonably determines that Lender's security will not be impaired by the loan assumption and that (.rlisk o_ of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. y = -n -In O r- :<r- m ox 3 O *; N ezr?co FM3504C/4.26-92 Page 3 0/4 >Form 3a 7/88 • To the extent permitted by applicable law, Lender may charge'a reasonable fee as a condition to Lender's consent to the loan assumption. Lender may also require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full,Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. 6---g.AP. er I�1 / �f �.� � (Seal) 6OkI ( �ijJQ. ���e Jri`ln G. Schnoebelen -Borrower Kathleen M_ Schnoebelen -Bo (Seal) -Borrower / _Bo [Sign Original O D74 o .7(r m m —co D e.) • • — ,•{;' �,Y,•��,.o• `,:1.,.'4' liirllrf t.•� '•':.)). 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(,'t 1 -•C'�tti'i`rri`v rf �l',j'• `` '` ' `- .t!ri*• .;, r 1• ' • id1,,' .( it _ ... -r 1. ,*;1 +'' ' .11 -) ' ►• � '•t 'e r 1• .p-,• A, z 44.4: { C:r�s , A 2, �:."e r , -w' 1i,:fT,,,k4: i?i +. .;� ;, J• �i._.lt,.:„ 3 • -t • a ..i '''r '• -iS%, T%:J _/J/ :i :IfT.lf'�r.r i's- Yn •`''�. is ! • ,z?.i:IL' ):•e �f r�,•k,, � nr" �j {., • ()18313- 1H313 >� .1 , r 453 -7 • ' Fii:i.tis,. ill .. ,. cr • • I991 hFR 14 1111 9:30 '`= t;Y . ' ' �' t, 7,a,F ./ . .L , JOt'1 SC):%u tol 7 kE�C UER ore IOWA ells,1017A J • • t •t I, .E.f. • This instrument prepared by, LORI REDLER 1 t' • '.' 204 H WASHINGTON-STREET _ +" IOWA CITY, IA 52240 r'J' t L 3191 356-91[19 !s ,••d ' ,y lSpoce Above Thb ILkm For Rerordlnp Data) - ,. • I.!¢ :c MORTGAGE €t 7'.. "•!...::-:-..4.-•:•;,...",• : . ,„ !., ?At:4; M' i il 0 '-:fi''''...' . ". •• .•,i1 I THIS MORTGAGE('SecurityInstrument')is given on APRIL 7, 1997 ;.The mortgagor is 1 lir.' 4: John G. Schnoebelen and Kathleen M. Schnoebelen, Husband And Wifo l 11 Iv • •;•i-: .. .dl ('Borrower').This Security Instrument is given to FIRST NATIONAL BANK IOWA x i 1ti� it which is organized and existing under the laws of COMPTROLLER OF THE CURRENCY ,and whose '�) _ '. it address is 204 H WASHINGTON STABS?, IOWA CITY, IA 52240 • ('Lender').Borrower owes Lender the principal sum of r 1 :' i:11 EIGHTY THOUSAND AND NO/100 .j � Dollars(U.S.$ 80,000.00 ) This debt is evidenced by Borrower's note dated the same date as this Security Instrument ('Note'),which providesr: '' t. for monthly payments,with the full debt,if not paid earlier,due and payable on MY 1, 202'7 / � , - This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Nae, with interest, and all - t ....,,..":. renewals, extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under 3. ��• paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and ,:; • �„ agreements under this Security Instrument and the Note.For this purpose, Borrower does hereby mortgage,grant and convey ' ' to Lender the following described property located in JOHNSON County,Iowa: ►e1 ! ., LOT 5, IN WEST BBL AIR ADDITION TO IOWA CITY, IOWA, ACCORDING TO THE PLAT ' :i n THEREOF RECORDED IN BOOK 4, PAGE 333, PLAT RECORDS OF JOHNSON COUNTY, IOWA ^' .�. ..::K--' 7<e. : ."''' ',.r.. Fintl'11.—I. ."I..-:-R'. a 71- ,J ,,-:i• :N r which has the address of 18 Montrose Ave, Iowa City [Street,City), `; ; ; Iowa 52245 ("Property Addicss'); *. • ' 12;p Calc) £' 'e'I j .' l,... ,'.Nyn IOWA-Single Family-Fannie Mho/Freddie Mac UNIFORM INSTRUMENT "fTi ,I et ' �m 6R(UI)ie tog o, vw,«moJws wase-P+srrw e,ao-[soyas[-7» r Form 907E 9/00 L •i . { ?(K• [AGE n .. .`. IA30151{/7/ee) O* i.d Op ronim710n TEOINOEOGIE3,BC-.(aaajp7.37eO "— J Q�J Amended 5/91 1,3.'=,• ". �4 I , rRRR 3; • F. r TOGETHER a WIT}!all the improvements now or hereafter erected on the property,and all easements, appurtenances,' r( : . ',-tit. •F ';g. :, . and fixtures now or hereafter a part of the property.All replacements and additions shall also be covered by this Security )•i 1. K•,• - I• `1 't: .1 •r' Instrument.All of the foregoing is referred to in this Security Instrument as the'Property.' ¢' q BORROWER COVENANTS that Borrower is lawfully seised of the estate herebyconveyed and has the right to 't• .g Y • ' + mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. -;:*;'•i•.' i `.'c •! ;: I; Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any ,•` '` encumbrances of record. • -'•'' r' ".'; 4•-•,, 46 THISS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with A , "r. limited variations by jurisdiction to constitute a uniform security instrument covering real property. t•i l'(.z".; UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: •t e i• ; :'ice•h..;.,r'r I.Payment of Principal and Interest;Prepayment and Late Charges.Borrower shall promptly pay when due the '' ,:1'," • ' - •.'.‘;••• , ;•A. principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. '�I ''' t;a. J 2.Funds for Taxes and Insurance.Subject to applicable law or to a written waiver by Lender, Borrower shall pay to 4ti - r1, ; Lender on the day monthly payments are due under the Note,until the Note is paid in full,a sum("Funds')for:(a)yearly .•••• • :'•1 ; ".�a. taxes and assessments which may attain priority over this Security Instrument as a lien on the Property;(b)yearly leasehold 7;i1--' • ' 't '1 payments or ground rents on the Property, if any; yearly property premiums; (d) yearly :;, ,:t •f,',.. F ape y, (c) hazard or rt insuranceearl flood ••,r ' Insurance premiums, if any; (e) yearly mortgage insurance premiums, if any;and (f) any sums payable by Borrower to - ' `, • ": Lender, in accordance with the provisions ofparagraph 8,in lieu of the payment of mortgage insurance r'.:-• ���i P P Ypremiums. These �,;t '- :`� items arc called'Escrow Items."Lender may,at any time,collect and hold Funds in an amount not to exceed the maximum n 1 amount a lender for a federally related mortgage loan may require for Borrower's escrow account under the federal Real `:•, ' . • rr.' i Estate Settlement Procedures Act of 1974 as amended from time to time,12 U.S.C.Section 2601 et seq.('RESPA"),unless ' ' : '', another law that applies to the Funds sets a lesser amount. If so.Lender may,at any time,collect and hold Funds in an ; r. .. •�;.:•';• amount not to exceed the lesser amount. Lender may estimate the amount of Funds due on the basis of current data and i '.i :r ' reasonable estimates of expenditures of future Escrow hems or otherwise in accordance with applicable law. The Funds shall be held in an institution whose deposits are insured bya federal a enc 'e:.0.• • :^ .',Iii; Pes agency,instrumentality, or entity •fr c , . .'n" , ,� `; (including Lender, if Lender is such an institution)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay ll the Escrow Items. Lender maynot charge Borrower for holdingand ir•_ . �• •� ! ar8 applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits1:;i _ 111, ' ' , Lender to make such a charge. However,Lender mayrequire Borrower to paya one-time charget t for an independent real • {s' . - estate tax reporting service used by Lender in connection with this loan,unless applicitle law provides otherwise.Unless an . • r agreement is made or applicable law requires interest to be paid,Lender shall not be required to pay Borrower any interest ;.'!;',..•:'•• -'• 1 , j.''+ ." or earnings on the Funds.Borrower and Lender may agree in writing,however,that interest shall be paid on the Funds. t`' i' I tt Lender shall give to Borrower, without charge,an annual accounting of the Funds,showing credits and debits to the Funds V.-, t and the purpose for which each debit to the Funds was made. The Funds arc pledged as additional security for all sums t4 J' • ` •••4,-;f�: :s:t" secured by this Security Instrument: 1. : ,.r If the Funds held by Lender exceed the amounts permitted to be held by applicable law,Lender shall account to 1-1 ' • ' f • Borrower for the excess Funds in accordance with the requirements of applicable law.If the amount of the Funds held by ,/t;-':• ,',. •,:, Lender at any time is not sufficient to pay the Escrow Items when due,Lender may so notify Borrower in writing,and,in such fl.�' '. s case Borrower shall pay to Lender the amount necessary to make up the deficiency.Borrower shall make up the deficiency in .a no more than twelve monthly payments,at Lender's sole discretion. 0- : i. J Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any ,y ;! ,..• '•• Funds held by Lender. If,under paragraph 21,Lender shall acquire or sell the Property,Lender,prior to the acquisition or rtrfe ,:• •• .sale of the Property,shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums • '• • - secured by this Security Instrument. ..1ry 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under •• ' .' j paragraphs 1 and 2 shall be applied:first,to any prepayment charges due under the Note;second,to amounts payable under •, ' 7i „ '4. '• •r1 paragraph 2;third,to interest due;fourth,to principal due;and last,to any late charges due under the Note. fry+ • :,J;' 4.Charges;Liens_Borrower shall pay all taxes,assessments, charges,fines and impositions attributable to the Property a i: :::', .{ which may attain priority over this Security instrument, and leasehold payments or ground rents,if any.Borrower shall pay ,rJt,• l these obligations in the manner provided in paragraph 2,or if not paid in that manner, Borrower shall pay them on time r r4� .. _ •i directly to the person owed-payment. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this iv' _� ; paragraph. If Borrower makes these payments directly,Borrower shall promptly furnish to Lender receipts evidencing the :14,.......... �' i payments. I • to ,� e .i1.4. t '' °' res:•' Borrower shall promptly discharge lien which has priorityover this SecurityInstrument unless Borrower: (a)agrees t,: 1 P PtYany �+ i i � 't i : in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender; (b)contests in good faith ' "5:f.._:,. .'; ' •:t, the lien by,or defends against enforcement of the lien in,legal proceedings which in the Lendfr'a opinion operate to prevent ;' jj. i• .;:•!...."4. Ji' , 6 P P i}-. w. - , , t the enforcement of the lien;or(c)secures from the holder of the lien an agreement satisfact ry to Lender subordinating the Zit::': •,• 1 lien to this Security Instrument. If Lender determines that any in e4' c • rr'' •' i'• ( priority over this Security Instrument, Lender may give Borrower a notice Identifying the lien. orrower shalty is subject to a lien l satisfy tich may he lien , •i, ;'. ... • ,'i or take one or more of the actions set forth above within 10 days of the giving of notice. •r 7 t # aR(IJq p+rgtt 1 hoot Form :_ ...'...• lis (' .f4:� i W01aN/a/, ... 'r' r ❑p 301!Q tq r � i,tl` • 22 5.....! AC( QJ7 t+ t_` .... ' .....,;,--,;.v.. iii' ,i 4 • i _ 1' ,, - 6P' t•Isi' ,4.0 rt r R lire'•`'; ., it.i1 '`s • 1+ s � .i'. , ,lir'' t'""'r•Z -, ' • 1•r, e• ltd $ 1„-it .+,.);itfR r'� .-d� {,' h. Fiti)- Y .Y, 0. •t1,T 1}F } :rqr, Pk.- ,ti-f '••',r'f.• }S , ,•r. t.t-. it' t' ii j.;,s..S e t •1.•f t:• 4 � r. 5. 'ki•N:1. 1.. ,. , , Y i. • , . ,,. ,jet-F.: aA''>,^.ski + 4.,i'lltittr-- ':V. • 4^• ••4 .'' � fx. i� i,:'. 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Y}i .l^'.•rr .•'‘�' , E, •• r '• .,; _ • , Y," 1r 'ii'fr '._..' >r 't.k";.' ti '•1 ••Kf4.".0.A, 1 y,s•t ;r .'Y • •7' j ;tl. � •".:.;1 i-1%. � .;` :r.'. ,ti • y� ._#J .. 4;�' v•,i -,t%,�-tC R"2^y' r.f'J.C� {� a • J; t, JG� �i'.�► "1'- -�1' • Y • • i,� '� ki try }�'+:r;'t' •�;7;.��-f � Z�• ,.,t ` . .rr1;�:.t,t'y,t' .} '��.iv •. ,-.: �'�•- ,i.i ', Li • '�.•.�1. n_._ t f_ci ;f:mti. • �J. l'.:1-.24,�v ,r.)'.1....e• . JL•..-43,.„:57ow, f S! • 't' .1.•: r,7i� • �r;,, 1'. .. ,;,, r' 11:: , Ji r. r • 13 • 5.llaxurd or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the j��{ 1 A Property insured against loss by fire,hazards included within the term 'extended coverage'and any other hazards,including •. floods or hooding,for which Lender requires insurance. This insurance shall be maintained in the amounts and fur the '''yy iFA periods that Lender requires.The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's .`;7 '..! •" • ' tr.or.1 approval which shall not be unreasonably withheld.if Borrower fails to maintain coverage described above,Lender may.at : , • •is iti• Lender's option,obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. ;4 ; . All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause.Lender ���; , - '' • !• shall have the right to hold the policies and renewals.If Lender requires,Borrower shall promptly give to Lender all receipts fi' •t: • `� - ' • ill of paid premiums and renewal notices.In the event of loss,Borrower shall give prompt notice to the insurance carrier and A 1;:+ ' I Lender.Lender may make roof of loss if not made promptly F' <f/ '._:.: •.. f Y P p rngitly by Borrower. Unless Lender and Borrower otherwise agree in writing,insurance proceeds shall be aprlicd to restoration or repair of '; ti ,•: r the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened:if the ° 1'. restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be ,r •r'' '}Jit r + ”" "/ jt applied to the sums secured by this Security Instrument, whether or not then due,with any excess paid to Borrower. if • •' _ . } f Borrower abandons the Property, or does not answer within 30 days a notice from Lender that the insurance carrier has -� S. • ;iii offered to settle a claim,then Lender may collect the insurance proceeds. Lender may use the proceeds to repair or restore F ' iii•'•` •. 5, the Property or to pay sums secured by this Security instrument, whether or not then due.The 30-day period will begin when 1,';,' i'y " .1 the notice is given. • . . Unless Lender and Borrower otherwise agree in writing,any application of proceeds to principal shall not extend or i '.3:•'. postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. 1f ►1- ....1-.' ++ i' - ...."...St..,. under paragraph 21 the Property "1 'i1 P 8 P Pe y is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting f.`.' .t . from damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security 1 '�; Instrument immediately prior to the acquisition. i }• 6.Occupancy,Preservation,Maintenance and Protection of the Property;Borrower's Lonn Application;Leaseholds. p ''1 ,2..... .. , 'r Borrower shall occupy,establish,and use the Property as Borrower's principal residence within sixty days after the execution 1{!• '? . !' I • °; `•' of this Security instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year $ . " '. after the date of occupancy,unless Lender otherwise agrees in writing,which consent shall not be unreasonably withheld,or t.' _ , 't •• h unless extenuating circumstances exist which are beyond Borrower's control.Borrower shall not destroy,damage or impair r ' 1 • •V. the Property, allow the Property to deteriorate,.or commit waste on the Property. Borrower shall_be in default if any - .,K,„:s, ' : • .�+ forfeiture action or proceeding, whether civil or criminal, is begun that in Lender's good faith judgment could result in f '' "' • • • - • forfeiture of the Property or otherwise materially impair the lien creased by this Security Instrument or Lender's security .0- .-.•, •',•":_,-: . '' t interest.Borrower may cure such a default and reinstate, as provided in paragraph 18,by causing the action or proceeding to ;t,'i Y: i. be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the t • • - g, i Property or other material impairment of the lien created by this Security Instrument or Lender's security interest.Borrower shall also be in default if Borrower, during the loan application process,gave materially false or inaccurate information or t? i " 1• statements to Lender (or failed to provide Lender with any material information) in connection with the loan evidenced by t `'}? j, t' t • t the Note, including,but not limited to, representations concerning Borrower's occupancy of the Property as a principal �t ;r' 1 residence. If this Security instrument is on a leasehold,Borrower shall comply with all the provisions of the lease.If Borrower / . '• . acquires fee title in the Property, the leasehold and the fee tide shall not merge unless Lender agrees to the merger In - Lt writing. - :' .. e 7.Protection of Lender's Rights In the Property.If Borrower fails to perform the covenants and agreements contained " r• •• l' in this Security Instrument, or there is a legal proceeding that may significantly affect Lender's rights in the Property(such as .. . '1.••• " ':.' a proceeding in bankruptcy,probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do a'; "..11,, :, and pay for whatever is necessarytoprotect the value of the Property �, and Lender's rights in the Property. Lender's actions _ t. may include paying any auras secured by a lien which has priority over this Security Instrument, appearing in court,paying : �! "':'ij reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this ij 1 a paragraph 7,(.ender does not have to do so. . ':r Any amounts disbursed by Lender under this paragraph 7 shall become additional debt of Borrower secured by this to' .Q Security instrument. Unless Borrower and Lender agree to other terms of payment,these amounts shall bear interest from Y: .10 i the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower i " }4 requesting payment. - T 8.Mortgage insurance. If Lender required mortgage insurance as a condition of ntaicing the loan secured by this ' "< .„ .' , ` •=4 '• Security Instrument, Borrower shall pay the premiums required r10 maintain she•mortgage insurance in effect. If,for any t�I reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall paythe 1 t- r • � k , premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost I .m' • substantially equivalent to the cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage M ' insurer approved by Lender. 1f substantially equivalent mortgage insurance coverage is not available,Borrower shall pay to 0 O •+ Lender each month a sum equal to one-twelfth of the yearlymortgage insurancepremium being ' 9 paid by Borrower when the �`e' � --"•••" .; '� • insurance coverage lapsed or ceased to be in effect. Lender will accept,use and retain these payments as a loss reserve in {y , — �' tl C::).-61411A)0,cet.oiP."". )'.+62.: 41 090 f oro sore 9/90 r '. • c•' rrr, :•'.O • • ta3018 wales) 1 .. _! - • y d't' '' .c :at •.�` 't' t ` •_It ,s.; r l lieu of mortgage insurance. Loss reserve option of Lender,if mortgage insurance coverage(in the amount and for the periodr `t "4.'..:I.� :•-: Lam. that Lender requires).provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall °:',;' - ,,t,Y- 'i,;j pay the premiums required to maintain mortgage insurance in effect,or to provide a loss reserve,until the requirement for r ql-: ." x -y mortgage insurance ends in accordance with arty written agreement between Borrower and Lender or applicable law. !''':; ?!: •i 9.Inspection.Lender or its agent may make reasonable entries upon and inspections of the Property.Lender shall give ✓ :." . s,:! dr..1'4.;'` Borrower notice at the time of or prior to an inspection ipecifying reasonable cause for the inspection. 10.Condemnation.The proceeds of any award or claim for damages, direct or consequential, in connection with any • ,le•'"-' _ .' ' `. :i• t condemnation or other taking of any part of the Property,or for conveyance in lieu of condemnation, are hereby assigned and ,, shall be paid to Lender. ; : '_ 1. ,1 In the event of a total taking of the Property, the proceeds shall be applied to the sums secured by this Security % V.) d ��•, Instrument, wbcthee or not then due,with anexcess aid to Borrower. In the event of ae partial taking of the Property in _ Jr Y P r - ..•' '. which Ute fair marker value of Urc Property immediately before the taking is equal to or greater than the amount of the suets `yI V.; ,6'.: '` .fart r�J • • secured by this Security Instrument immediately before the taking,unless Borrower and Lender otherwise agree in writing, If,��+� " • r, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following ;r{:..V::: -':•''..`~ ;:'••:.; ' fraction:(a)the total amount of the sums accurst immediated before rhe Lakin divided b b the fair market value oC etre � 1. ';r Y g. YO I.-, • • , • •; . "!:.-;',./:it Progeny immediately before the taking. Any balance shall be paid to Borrower. In the event of a paztial taking of the •-j I. " .. ' Property in which the fair market value of the Property immediatelybefore the taking is less than the amount of the sums y`.t • •;; '1 I, r , p m .; « secured immediately before the taking,unless Borrower and Lender otherwise agree in writing or unless applicable law iftir.• , .....•' : /,t i otherwise provides,the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are I. I% ., ' . then due. 1 . '`i If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages,Borrower fails to respond to Lender within 30 days after the date the notice is given, { ;s : s° , �- Lender is authorized to collect and apply the proceeds, at its option,either to restoration or repair of the Property or to the i' +^ j sums secured by this Security Instrument,whether or not then due. ' ' i 5 r3 Unless Lender and Borrower otherwise agreein writing,anyapplication ofproceeds to principal shall not extend or ��-, _ � B• PP� • ' ' '4:'- '.': 4•; ' postpone the due date of the monthly payments referred to in paragraphs I and 2 or change the amount of such payments. t `- ; •..: y'i 11.Borrower Not Released;Forbearance By Lender Not a Waiver.Extension of the time for payment or modification of t ? • amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall `y •j not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required • to commence proceedings against any successor in intereat or refuse to extend time. for payment or otherwise modify -F,t: �. amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower.ieor :: .,s • Borrower's successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or ,, d : :� •: , .l t.• '• ; preclude the exercise of any right or remedy. ' : -;6 �, ', 12.Successors and Assigns Bound;Joint and Several Ltabitity;Co-signers.The covenants and agreements of this Ir Security Instrument shall bind and'benefit the successors and assigns of Lender and Borrower, subject to the provisions of "r, ' • : paragraph 17.Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security ' '. .r i' Instrument but does not execute the Note:(a) is co-signing this Security Instrument onlyto mortgage, grant and conveythat : ;. Borrower's interest in the Property under the terms of this Security Instrument (b) is not personally obligated to pay the ;'•• . 'a. -1: sums secured by this Security Instrument; and(c) agrees that Lender and any other Borrower may agree to extend,modify, • y.fr.: --...,.. ...,0-.:. forbear or make any acconmtodations with regard to the terms of this Security Instrument or the Note without that " 'IYk1 i r'- '.' Borrower's consent. ,�L • r 13.Loan Charges,If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, ' y�: • \ti. +A•:. ++`• and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the ''�f•.' s.';r }' loan exceed the permitted limits,then: (a) any such loan charge shall be reduced by the amount necessary to reduce the h,L +•'I !�'. charge to the permitted limit;and (b) any sums already collected from Borrower which exceeded permitted limits will be ;.e' ... :1' - refunded to Borrower.Lender may choose to make this refund by reducing the principal owed under the Note or by making a 4 'y; .,':'' . sr direct payment to Borrower. If a refund reduces principal,the reduction will be treated as a partialprepayment without an ` prepayment charge under the Note. ' s. .• 14.Notices.Any notice to Borrower provided for in this Security Instrument shalt be given by delivering it or by mailing ,t cp,:x:' = ':1.,:• ? * t, It by first data mail unless applicable law requires use of another method. The notice shall be directed to the Property ;.rj•. ' • t••' 'r f l• ^�'' i'` Address or anyother address Borrower designates bynotice to Lender.Any notice to Lender shall be given by first class mail ��jv• • '!•;: to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in • . -, ' i'• •';''';' this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 4,,:.• :.:t.,.:,v:`•,;s.�•.5,'ti 15.Governing Law;SEVERABILITY.This Security Instrument shall be governed by federal law and the taw of . '' c,, the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Note conflicts with applicable law,such conflict shall not affect other provisions of this Security Instrument or the Note which :b • -•-•3••.;;t•-:!'.... ,*.;;t 'I' '.r can begiven effect without the conflicting�t t provision.To this end the provisions of this Security Instrument and the Note are .ism,. :: :. ;' �•:• .f . :i- •, ; declared to be severable. I,s4. • ' 'Iti! •;yl :i 16.Borrower'aCopy.Borrower shall be given one conformed copy of the Note and of this Security Instrument. V' - •••,....i;,•;,-..,•,••••`' t r77ri,-6R I nmrr.o, I l •,1 P+at C' �)r • i' 'r� ,:; V:, �aY,�m 16 �� 'f 'Alit Qy�, Form 3016 9/90 T• i, ".t.G ;'•I • 1.30160/0/Yrt .. .. .�:�a)� , 7�} •'- r�l: I"ie.,. ... r -f�r 4.,,,� r•� ' If. � r- If 'i 'r 1+y[ "! ,II. "t:i 7.y_. 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X ,1".),!e J.i•s S 4 a•t •.- +t `f 'vt q. 1 rt "%I • vr.V,?}[r. •+ $: f,; •,ti-. 444 ,1, `;r 1,11 t7l sy .i#•3..it ' `1...."v! • .ti Ir]INE 1p •r-l f ,, 4-,.�,,'ka°�.P''t •4 L 1A y � -./ !-. •k,.r_i }`..f..jis ir1'.a +.� rT'.1" • ,t,l •{•S„` �tt,� y t _q. l; ' � `r' sti+ S.•+i it a 3 1 l� u �" •�i� : :H • ,r�' ,...� r .?.{' }'�e, �+ / e :!.p^q�j��'� f �. 1+ 's tfrt 'f'+ r °- I • S r j'' i„.:, +..1-i ., f. e[.w. e - �•.. J.fl''* ;•., 'e)1k..' 1- :, 1'7 i:'•ltJAW i 1 +,.. ar • kta�.•ir ,��. .` .psi:�V;y�. 'f �� • .' 23.Waivers.Borrower relinquishes all right of dower and waives all right of homestead and distributive share in and to `••-e t- '.:•1 .1 the Property.Borrower waives any right of exemption as to the Property. .+ !- 1 T. f .r 'r�t I r:;i - r '.0 24_Redemption Period.If the Property is less than 10 acres in size and Lender waives in any foreclosure proceeding any *_; I right to a deficiency judgment against Borrower,the period of redemption from judicial sale shall be reduced to 6 months.If ` = _ 1. • the court finds that the Property has been abandoned by Borrower and Lender waives any right to a deficiency judgment •. 'J 1.•"I ' ,, against Borrower,theperiod of redemptionA:`•:'I i ' -• • g from judicial sale shall be reduced to 60 days.The Provisions of this paragraph 24 •.:C 7" �•;; 1,• • '■ r •ri shall be construed to conform to die provision of Sections 628.26 and 628.27 of the Code of Iowa. .•}-•.• • 25.Riders to this Security Instrument.If one or more riders are-executed by Borrower and recorded together with this t . Security Instrument, the covenants and agreements of each such rider shall be incorporated into and shall amend and4. : y 7.1:4!i def,• supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security ,~ I•I • e �• 1 � ;lit Instrument. .t:. , -: .' 't [Check applicable box(es)) 1.-.••••••••,` '2! "• : Adjustable Rate Rider 0 Condominium Rider 0 1-4 Family Rider •' t' .- •• • .'.�'is• CI Graduated Payment Rider 0 Planned Unit Development Rider 0 Biweekly Payment Ridet...-1:.'• ' °• • ,.e t ..Is t El Balloon Rider TI Rate Improvement Rider 0 Second Home Rider '.jt.;' ' ' a•::;r+^ !;i ❑V.A.Rider Others)[specify] i yt t, tt'.r {� 1. ilir; I:h BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument ', ,,••+f •' - .y j, ;r a,: and in any rider(s)executed by Borrower and recorded with it. • f'' Witnesses: r •r • • s •R9 Cit t-V.6.e..J.fdx t�- (Seal) .ji:'. :.t.i ,T a. Schnoebelen `'` ,r 18 Montrose Ave -Borrower Iowa City, IA 52245 -Address I _ '+"_+': , ‘Oitege41 W Z9/7Ifd-L��/sj (Seal) +� '•. qtrhleen M. Sc oe alert -Borrower 'xk'Y ' 4 . ••' '' 18 Montrose Awe / Iowa City, IA 52245 . . .2 (•;r6! (Seal) (Seal) ^y s `v i•41:; -Borrower -Address -Borrower 3` +�'r• .'� r -Address li STATE OF IOWA, JornInoti County ss: i ' 'e ' On this ' 7TH day of APRIL, 1997 before me,a Notary Public in the Stale of Iowa,• ?;{ .ti' i! personally appeared John C. Schnoebelon AND Kathleen M. Sehnoebelen f:- • +v{ i o '• . if • ,to me personally known to be the person(s)named in and.!,,,hp executed the foregoing '1 t' � instrument,and acknowledged THAT THEY executed the same AS r fy''.•' voluntary act and deed. `•; y' l7 (? • 1•-• , - 1,J• My Commission Expire: j ..rr Non attic in e f said County W WERNER 5 _Sure ` ; • 1;• -i • ' KBVINJ •.; 0• .. . t.; • Y , )4. ,4•I• 1yx.:,i .7-1.....*': x. �. • f•. ;t pyrji_ •c:' -6R IA .oaor e . Pq.Get 0 • • fC092 Form 9018 8/i)IA3018µto/rel . , . :. • V. .`�f ; 17.Transfer of the Property or n Beneficial Interest In Borrowcr.lf all or any part of the Property or any interest in it is �iit t'e sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without a' 1 • k Lender's prior written consent, Lender may,at its option, require immediate payment in full of all sums secured by this ,'. '- • y ?./ Security Instrument. However,this option shall not be exercised by Lender if exercise is prohibited by federal law as of the ,!'rj date of this Security Instrument. •' r " If Lender exercises this option,Lender shall give Borrower notice of acceleration. The notice shall provide a period of t7 ,.0 : • • ., -�jpi •,�!,•�.�.�i. 4 .s ► •1' ..‘r•--:We - • •.....' •ti. •,l..:a• . { r��� C t 'f, ~ jam...[",;::nJ,+ • ' .'ICt .r�p'.`�+ .1+ t ''1'1 r. .i'� �'11'.�-j' j�,e i. _ 0. 't..fr•t5•; . jl�� ) i` rr ' • ',. . ...tr. -'y[r'• .f. , eh"f?/-� ht;�' e4 . ; •�� - S4 -••'turnt�'*' i- f. 1.W. r-.1444T�yi ' 1•s�.ti 'I i:. ....-'311.131 .�'t•. �x ..1 %%$4 4:1''IN > . •;1 • : tt ��11 ' 1 • • I't lh!1'�:-,:,\ I1: w.;.,•.1'-...4 t. -x•.4 A,%:ir y. i^ I T i . ,i ,...;.;0.....,,,..` ;.. - •� i'�-. PI J,��°1 Rti r-.` f� p., '..i�;.j F a.1lr:f b''It S.ti_, iii. • '• {.i'{. 'i'�-\Ui►ri':i'� �;.'�'��}'.(�:11��'• t •r/ .�,N: �'�,. ��_ .1��✓� tr` ,r o �:�A +�., �'. Str�- wl,. .t � - ���' •;. (:'^f' 1.P4?c ,NA, + 4 ..s 4i {'. '4%% 'V .f`> . �'fa{•.. - t• 'Yay >_ •::q,,,.7.;;;,,,f -h. �l�! �•, '��,1�'' ';�' l ` h L fi •l I r, 1lE;.4 . �.'t 'i. S�w a•,. •:',0•4,•-.., t f f ' -t i ,�4,,r..r�i . •.,3" i4 •'• 11 : {r i.k1• IFyyy.*t��� • i:. ;t •)'_ 5 -:�:� ;1 •��r • 7- •i - ��. ` -�.,� s'YV`:!�,}'�•c- ti ' u1 - t. t�At `S',af.. 14t a'k F� �'i� � .i' • r ` f! r ')P.i••.F' v . .1 `�•J:' ,e 4 <<' :-: ii' w.;'t� t. vJ,rf C t't. ( if.•- 11, ' '"`qj� :k., }•i 1V y�!y _ { r .� :R�}.. -9 I • ,, F !;' _ 1:/�1 .i1 Y.�.Tt 'ytY.:- .~ :. ,4:1-:..7.•y��y .� r• -�G,•\:��:�� •r .'p' • �r ., , t r t I tr' 3. `" iTor. '' t•` ,.r 1 + 4t..)..:44., �.I: Ri� •'t, t, {. .i, 4•; `!tit[ ,i" .1 • is!' r Fy v' A. , • b,'‘,--44)0 isJ 1%, .• 1;� t(,.1,.et+ •� 4 '.4 :i. • -'1: ".... •v' :s�.ejti«I.J.L. .r t !Y_ai{ i'i� -•;_.�"< .:......?,i• . . L-'t [::, :4t-.i•_i,• ,rj•t y Y Lae. .7de'r "77- :#.i +,�i' • ••.`;r • h ti Lae. `dS' t"LLti1 tt" .t!• • Loan 43331-220-6 • t, �, Sj .,fit :' af ADJUSTABLE RATE RIDER t nr .•r'-t1 '�t• :w)• (3 Year Treasury Index-Rate Caps) .r, le THIS ADJUSTABLE RATE RIDER is made this 7TH day of APRIL, 1997 t;1 �� and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the 'Security Instrument')of the same date given by the undersigned'(the'Borrower')to secure- t " `: 1 • Borrower's Adjustable Rate Note(the"Note')to FIRST NATIONAL BANK IONA . ' • • ;;•41/ i'M •h • -• :it(the'Lender')of the same date and covering the property described in the Security Instrument and located at: Ti' - 1 ' r• i i Co •18 Montrone Ave • t7 Iowa City, IA 52245i . , •, t' yr' [Property Address) S I�J f -}: E'ry. ;. THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE t• ' INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE LIMITS THE ` i �: AMOUNT THE BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME ` •' ?• - _ .r. I,. AND THE MAXIMUM RATE THE BORROWER MUST PAY. i'1• �! -�i ADDITIONAL COVENANTS.In addition to the covenants and agreements made in the Security s j-7[('. `..t. , r.t Instrument.Borrower and Lender further covenant and agree as follows: ?�+I": w e' r. ,1:,..,.f f•Jt% ... . .. •A.INTEREST RATE AND MONTHLY PAYMENT CHANGES t�.�t �! • yy The Note provides for an initial interest rate of 7.750 %.The Note provides for changes 1... :• • •S in the interest rate and the monthly payments,as follows: • ` {d ` !, '+ 4.INTEREST RATE AND MONTHLY PAYMENT CHANGES r. (A)Change Dates r ' • The interest rare I willpay may change on the first day of MAY, 2000 ,and on that , `. ,.{.' r' day every 36th month thereafter.Each date on which my interest rate could change is called a'Change Date." (B)The Index • / Y• i• 44' 4JBeginning with the first Change Date,my interest rate will be based on an Index.The'Index•is the weekly t _ - • average yield on United States Treasury securities adjusted to a constant maturity of 3 years,as made available `• '• _ • • - by the Federal Reserve Board. The most recent Index figure available as of the date 45 days before each h r.';• u iY Change Date is called the'Current Index. •.i • r. i? .i:i.1 the Index is no longer available,the Note Holder will choose a new index that is based upon comparable MUD '':•• information.The Note Holder will give the notice of this choice. �+ + .(T•!, t # • (C)Calculation of Changes , 71›.7-1:-.. „•IIx r Before each Change Date,the Note Holder willcalculate my new interest rate by adding THREE MID • Y+ '� -It 550/1000 percentage int s -7 • - - •'�- m'm o Pe ag fm O( 3.000 %)to the Current Index. . 'r •- .� i ' - ,A• The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point '1'.;',-,•:-‹ -' n.- • (0.125%).Subject to the limits stated in Section 4(D)below,this rounded amount will be my new interest rate ';'. Imo ' •. until the next Change Date. .. I.l ©, , The Note holder will then determine the amount of the monthly payment that would be sufficient to repay ,: •; '°A.? �I. _ •• ,, the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new1. ' • 1 _ :1 interest rate in substantially equal payments. The result of this calculation will be the new amount of my ` .''.•.. - monthly payment. x j. • • 1: MULTISTATE ADJUSTABLE RATE RIDER-1 YEAR ARM-Single Famay-Fannie Mee/Fraa Ilan tab n Uniform bumaat ''ii. '- : -id �a %APs/pRreAGEFOF.I3- 291 11 co. _ "'. . ]•'• ' •' P A cogsa� ,- FOrrtl11147 B • •� ®O FWste/a.a.Q ne1,4s.aW rOrhl,.T1D,17E6WOLOG1E4.e1(:.'teoolealdr9e � .:� i.`••�• .' �' ' Pape 1047 j !1, - t� 925: ?Act 094 :YI . -: • • ',?......... • ....::,...z•-ti-..!.-•;It {,1 ;;w.,t • . (D)Limits on Interest Rate Changes i:); •..1 ; --- - '} •r-,•::, The interest rate I am required to pay at the first Change Date will not be greater than 9.750 % . ,' •t •?r - • •' 'r"• •,•` or less than 5.750 %. Thereafter,troy interest rate will never be increased or decreased on any •"'r single Change Date by more than Iwo percentage points(2.0%)from the rate of interest I have been paying for �t •_ :t ,y the preceding 36 months.My interest rate will never be greater than 13.750 %. .•' •,.: :,, (E)EffectiveDate of Changes 1... •• :f i•..;}+^' My new interest rate will become effective on each Change Date.I will pay the amount of my new monthly .:' FFt payment beginning on the first monthly payment date after the Change Date until the amount of my monthly e,,:-1' • 'i' •: '••-d_.� payment changes again. :H = i • a t Notice of Changes '' f~' • '('_ The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of �.. I •• ....14.,•. monthlypayment before the effective date of anychange.The notice will Include information required by ' . • t ' my P Y q f I,ttr i• •.t .7;;;1 law to be given me and also the title and telephone number of a person who will answer any question I may I. ,; v t -i� .. . ' ' ;t . ,• ... have regarding the notice. ''4..: :. •_ i.,s ,ri �- » • 1 B.TRANSFER OF THE PROPERTY OR A BENEFICIAL INTEREST IN BORROWER t!• •• " i Uniform Covenant 17 of the Security Instrument is amended to read as follows: "+ - ,:' } i Transfer of the Property or a Beneficial Interest to Borrower.If all or any part of the Property or any t i e ''; i _7• interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is f•(:• • .) . 1 I not a natural person) without Lender's prior written consent, Lender may,at its option,require immediate i ,:t a ) payment in full of all sums secured by this Security Instrument. However,this option shall not be exercised by t` • • ;, . :•--.II Lender if exercise is prohibited by federal law as of the date of this Security Instrument. Lender also shall not Y�;r "i,,1: ' .• ,f:,''�Y exercise this option if:(a) Borrower causes to be submitted to Lender information required by Lender to f''e•• • •1• '• . [valuate the intended transferee as if a net,loan were being made to the transferee; and(b)Lender reasonably y..... • •?'", i.- determines that Lender's securitywillwi be impaired bythe loan asses io 4 ( •• '. ','. i4....-,.1; •:. P mpt q utas that the risk,of a bread[ of wr . 'it. . • r •Ic`. t'• any covenant or agreement in this Security Instrument is acceptable to Lender. F .ti. • -. :• .,'�' 5.. i'; To the extent permitted by applicable law,Lender may charge a reasonable fee as a condition to Lender's I, :• rc•. �': !',! }• consent to the loan assumption.Lender may also require the transferee to sign an assumption agreement that is ;,i4 • j'i. - - -v....4 acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the "f i ':l t. : . ' I Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security +l; . • `•: • 11 Instrument unless Lender releases Borrower in writing. , :5i• . •• t, • i', ;•:.; If Lender exercises the option to require immediate payment in full,Lender shall give Borrower notice of ,r:t • M acceleration. The notice shall provide a period of not less than 30 days from,the date the notice Is delivered or ';•l:, . . '1 mailed within which Borrower must pay all surfs secured by this Security Instrument. If Borrower fails to pay ;+;; 'Y i •: • , these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security '-ti • �il.• • t'. - • . Instrument without further notice or demand on Borrower. e34 ' • ,Its . , F. - BY SIGNING BELOW, Borrower accepts and agrees to the terns and covenants contained in this •'+. e t• ; + Adjustable Rate Rider. -'f ; ' r ' .e.� `• (Seal) 4. -0,‘ anat#dt6 ,� ,J •• e :; • •;--...• -71'• i• �• in 0. Bchnoebelon -Donown ••rathleen H. Bchosbelen -Borrow. �: � • ;j? : (Seal) • (Seal). , 1;. •••••;'i t i 'i: r.,1 _M' •Bunowe, -nonower .; i.:',.. t "• '� (Sign Original Only) t. r 1 ... . •. ..,rf .:1 FIRST NATIONAL BANK 1 2 , a, • �;:_a ,�''I BOX+11180,201 E.WASHINGTON �� ' "�S•'� ',•i,. , 4'i IOWA CITY,IA 52240 if.`� i. .,t r.'' 15 rl 'itfl tr.' i, r r Sl' s , .1. .I.- . ru2n.D/ale vl P15 2of2 ji - . I.-•, Form 3t 14 7/BB �J: 1. �i• °,`t. r1(]C t!q'ti r--; .1 • :: _.511 •. 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Ati •n i C ` , .�'•1 :► w'i , -. +r '. +rel•4:� END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE•PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540•(319)356-6030 PLAINTIFF: WASHINGTON MUTUAL BANK Docket No '08-03811 State ilOWA vs. Court No [EQCV069538 ; County JOHNSON DEFENDANT: DABY, TRACY L Ref No j Received 06/26/2008 -- DEFENDANT: CITY OF IOWA CITY DEFENDANT: SPOUSE OF DABY, TRACY L Requestor(s) Phone HOPKINS,BENJAMIN W (515)222-9400 Name CITY OF IOWA CITY Party Type 'DEFENDANT Address 410 E WASHINGTON ST (IOWA CITY _ IA 52240- Phone ''(319)356_5030_] E-Mail Fax Employer . Zone Comments — — — Documents Document Serve by Date OE PSR Description/Special Instructions ORIGINAL NOTICE AND PETITION • — ❑ ❑ —— — — — • Service Information Attempts Log Date Time Server Notes Date 6, - 7 c)g Time t'. 1{ LQ _ Type L( }- / Party J Lk. l ce vd 0,/rJ`- Relationship Q P u� cjA Race Sex DOB Location C C. 4 "- w A 5 4,,,,,c,Fw, sem, A Cf'-)1 Miles I VD Fee / •S iOfficer Notes: y.{ Z o-< N r -4 0 rn :`r O Printed:Thursday,June 26,2008 Page 1 of 1 ' 28575 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY WASHINGTON MUTUAL BANK, 91-1660453 : SUCCESSOR IN INTEREST EQUITY NO. mco pbgs38- TO WASHINGTON • MUTUAL BANK, FA • ORIGINAL NOTICE Plaintiff, : vs . •• p ›74 z t1 TRACY L. DABY; • r CITY OF IOWA CITY, IOWA; • �—�n v rn SPOUSE OF TRACY L. DABY, IF ANY; • 520 2 Defendants . : 19a •o TO THE ABOVE NAMED DEFENDANTS : You are notified there is a petition now on file in the office of the clerk of the above court . A copy of this filing is attached hereto. The Plaintiff ' s attorneys are Petosa, Petosa & Boecker, L.L. P. , by Benjamin W. Hopkins , whose address is 1350 NW 138th Street, Suite 100, Clive, Iowa 50325-8308 . The Plaintiff ' s attorney' s phone number is (515) 222-9400, with a facsimile transmission number of (515) 222-9121 . You must serve a motion or answer, within 20 days after service of this original notice upon you and within a reasonable time thereafter file a motion or answer, in the Iowa District Court of Johnson County, at the county courthouse in Iowa City, Iowa. If you do not, judgment by default may be rendered against you for the relief demanded in the petition. If you require the assistance of auxiliary aids or services to participate in court because of a disability, immediatiel call your district ADA coordinator at (319) 398-3920 . T(It-You are hearing impaired, Call Relay Iowa TTY at 1-800-735-2942) . LERXLLY Cl (1 rk of the Above ourt Johnson County Co thouse Iowa City, Iowa 52244-2510 YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS. C.C • 28575 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY WASHINGTON MUTUAL BANK, 91-1660453 . SUCCESSOR IN INTEREST EQUITY NO. ECQCOD oS38" TO WASHINGTON • MUTUAL BANK, FA PETITION Plaintiff, . vs . TRACY L. DABY; • CITY OF IOWA CITY, IOWA; .• pia ' 1 SPOUSE OF TRACY L. DABY, • r}- IF ANY; ter" x Defendants . `t1 NOTICE THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTIO 'I o'IHI MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR .. r PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE COURT A WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND, THE SALE WILL BE DELAYED UNTIL SIX MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS RESIDENCE BUT NOT A ONE-FAMILY OR TWO-FAMILY DWELLING. YOU WILL HAVE NO RIGHT OF REDEMPTION AFTER THE SALE . THE PURCHASER AT THE SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY PURCHASE AT THE SALE. c7 _; ) __ f ! L,.•J — .43 1 Plaintiff, Washington Mutual Bank, successor in interest to Washington Mutual Bank, FA, for its cause of action states : 1 . That the Plaintiff is a corporation doing business in the United States of America. 2 . That on or about May 15, 2006, Tracy L. Daby made, executed and delivered to Affiliated Financial Group, Inc, a promissory note in writing for the sum of $136, 500 . 00 payable in installments, with interest at 6 . 25% per annum from such date (the "Note") . A copy of the Note is attached hereto and made a part hereof as Exhibit "A" . 3 . That on or about May 15, 2006 in order to secure the payment of the Note, Tracy L. Daby (the "Mortgagor (s) " ) made, O a executed and delivered to Affiliated Financial Group, Inc ;2 n real estate mortgage (the "Mortgage" ) on the following 710 cm 21 0 described real estate (the "Mortgaged Property" ) : 373 -43 Lot 3 in Block 31, in East Iowa City, Johnson County, Iowa, according to the recorded plat thereof . the Mortgage was filed for record May 23, 2006, in Book 4027, Pages 371-385 in the Recorder' s Office of Johnson County, Iowa. A copy of the Mortgage is attached hereto and made a part hereof as Exhibit "B" . Said mortgage is a Purchase Money Mortgage . 4 . That the Mortgaged Property is and at all times relevant hereto was the homestead of the Mortgagor (s) . 2 5 . That the Plaintiff Jscurrently the holder ofrecord of the Note and Mortgage . 6 . That the Plaintiff is the sole and absolute owner of the Mortgage; that the Note and Mortgage provide that if default be made at any time in payment of any installment of principal or interest, at the election of the Plaintiff, all indebtedness, without notice of such election, shall become immediately due and payable; that the Plaintiff by reason of the failure of the Mortgagor(s) to pay said installments, declares the Note in default, that there is now due and owing the Plaintiff the sum of $134, 062 . 64 with interest at 6 . 25% per annum from and including December 1, 2007 plus late fees, attorney fees, abstract expense, protective advances and costs . 7 . That the Plaintiff has given the Mortgagor (s) notice of the right to cure said default and to date has received no response thereto. 8 . That the time to cure the default under Iowa lawjias o no *7 now expired. >71 m 9 . That said Note and Mortgage provide that if suit -be v m commenced thereon, Mortgagor(s) will pay reasonable attors ' _ . fees . An attorneys ' fee affidavit is attached hereto and made00 a part hereof as Exhibit "C" . 10 . That the Plaintiff now hereby in writing waives any right or claim to a deficiency judgment against the Mortgagor (s) . That the Mortgaged Property is the residence of 3 the Mortgagor (s) and is a one-family or two-family dwelling. The Plaintiff hereby elects to foreclose without redemption and the sale of the Mortgaged Property shall occur promptly after entry of judgment, unless the Mortgagor (s) , pursuant to the Notice set forth above, files a written demand to delay the sale, in which event the sale shall be delayed until six months after entry of judgment . 11 . That the following parties are named as Defendant (s) because they claim some right, title or interest in the Mortgaged Property, including, without limitation a right, title or interest as described below but any such right, title or interest is junior and inferior to the interest of Plaintiff : • Spouse of Tracy L. Daby, if any, for any interest in the subject property n • City of Iowa City, Iowa, $22, 291 . 00 Mortgage, > _i dated April 11, 2005, filed April 22 , 2005, Book n m 3866, Page 761, (Subordination Agreement filed _Gr 5/23/06, Book 4027, Page 366) 0 m 2 0 • City of Iowa City, Iowa, $7, 724 . 00 Mortgage, dat4- N April 11, 2005, filed April 22, 2005, Book 3866, > Page 766 • City of Iowa City, Iowa, $3 , 934 . 00 Mortgage, dated April 11, 2005 , filed April 22 , 2005, Book 3866, Page 772 • City of Iowa City, Iowa, Mortgage, dated June 13 , 2006, filed June 16, 2006 , Book 4038, Page 300 • City of Iowa City, Iowa, $13 , 969 . 69 Note, dated December 29, 2006, filed January 16, 2007, Book 4120, Page 739 4 12 . That the Mortgage provides that any time after the proper commencement of an action in foreclosure or during the period of redemption, the Court having jurisdiction of the case shall , at the request of the Plaintiff, appoint a receiver to take immediate possession of the Mortgaged Property and of the rents and profits accruing therefrom, to rent the same as he may deem best for the interest of all parties concerned and shall be liable to account to the Mortgagor (s) only for the net profits after application of rents, issues and profits upon the cost of the expense of receivership and foreclosure and the indebtedness, charges and expenses hereby secured and herein mentioned. p C7 WHEREFORE THE PLAINTIFF PRAYS THE COURT: N r- _�� rn 1 . That the Plaintiff have judgment in rem against t-3am Mortgaged Property for the amount of unpaid principal and X ^� tys•o interest on the Note, as provided in the Note and Mortgage and for late fees, attorney fees, abstract expense, protective advances and costs. 2 . That a receiver be appointed immediately to take care of, manage, lease and collect the rents from the Mortgaged Property, and to apply the same in payment of costs and expenses of said receivership, repairs and expenses of said real estate, accrued and accruing taxes and special assessments, insurance premiums, and in partial payment of the judgment to be entered herein. 5 3 . That said judgment, together with interest, late fees, attorney fees, abstract expense, protective advances, costs and accruing costs be decreed a prior lien upon the Mortgaged Property from the date of the Mortgage, and that all rights, interests and equities of all Defendants to this suit be declared junior to the right, title and interest of the Plaintiff . 4 . That in the event Plaintiff is required to make protective advances, including without limitation, advances for taxes or insurance on the Mortgaged Property, the Plaintiff be N given an additional lien thereon for such amounts so advaBced,2 c7 D" which shall be included in the judgment to be entered here. r-- 5 . That the Mortgage be foreclosed and the Defendan p) ' m 0 equity of redemption be barred and foreclosed save as v1 guaranteed by law. That special execution issue for the sale the Mortgaged Property to satisfy said judgment, interest, late fees, attorney fees, abstract expense, protective advances and costs . 6 . That special execution issue to satisfy said judgment, interest and attorneys ' fees, and accruing costs herein, and the Mortgaged Property be sold according to law to satisfy the amount due under the Decree issued by this Court and the Defendants herein or anyone claiming by, through or under them, be forever barred and foreclosed of any interest in the 6 Mortgaged Property, except such rights of redemption as provided by law. 7 . That if the Mortgaged Property is sold and not redeemed, the Clerk of this Court shall issue to the Sheriff of said County, a writ of removal and possession, commanding him to put the grantee named in the Sheriff ' s deed for said premises sold, or his grantee, in possession thereof, and to remove any Defendants, or persons claiming by, through or under any of them, or any person in possession thereof out of such possession. 0 8 . That the Plaintiff has elected foreclosure witho$t N rn redemption and the sale of the Mortgaged Property shall orrn promptly after entry of judgment or in the alternative, `^ written demand for delay is filed, the sale shall occur six months after entry of judgment . 9 . That the Plaintiff be granted such further relief as may be just and equitable. PETOSA, PETO A & BOECKER, L.L. P. BY 1 // / AT0003573 135, 3• h treat, Suite 00 Cyte / Iowa 50325-8 T: ephone : (515) 222-9400 Facsimile : (515) 222-9121 ATTORNEYS FOR PLAINTIFF 7 • • NOTE Loan Number: MAY 15, 2006 ENGLEWOOD COLORADO rr1 l0m1 ICnyi Islatelca O 1911 H STREET, IOWA CITY, IOWA 52240 Ipropcny Address) > 1. BORROWER'S PROMISE TO PAY • n fV r In rerurn fora loan that I have received,I promise to pay U.S.S 136,500.0 0 (this amount is --I n v called"Principal"),plus interest,to the order of the Lender. The Lender is AFFILIATED FINANCIAL -<r- GROUP, INC., A COLORADO CORPORATION m I will make all payments under this Note in the form of cash,check er money order. 31 I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and C/7 N who is entitled to receive payments under this Note is called the"Note Holder.' GD 5,P) 2. INTEREST Interest will be charged on unpaid principal until the full amount of Principal bas been paid. I will pay interest ata yearly rate of 6.250 %. The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section 6(B)of this Note. • 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest by making a payment every month. I will make my monthly payment on the 1st day of each month beginning on JULY 1 2006 . 1 will make these payments every month until I have paid all of the principal and interest and any other charges described below that 1 may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If,on JUNE 1, 2036 ,I still owe amounts under this Note,I will pay thuse amounts in full on that date,which is called the'Maturity Date." I will make my monthly payments at 5690 DTC BOULEVARD, SUITE 400E, ENGLEWOOD, COLORADO 80111 or ata different place if required by the Note Holder. • (B) Amount of Monthly Payments My monthly payment will be in the amount of U.S.S 840.45 4. BORROWER'S RIGHT TO PREPAY I have the right to make payments of Principal at any time before they arc due. A payment of Principal only is known as a'Prepayment.' When I make a Prepayment,I will tell the Note Holder in writing that I am doing so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note. • I may make a full Prepayment or partial Prepayments without paying a Prepayment charge. The Note Holder will use my Prepayments to reduce the amount of Principal that I owe under this Note. However,the Note Holder stay apply my Prepayment to the scented and unpaid interest on the Prepayment amount, before applying my Prepayment to reduce the Principal amount of the Note. If I make a partial Prepayment,there will be uo changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. 5. LOAN CHARGES If a law,which applies to this loan and which sets maximum loan charges.is finally interpreted so dot the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, thea:(a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; INmAL HERE ILk— MULTISTATE FIXED RATE NOTE—Single Family Oodiiagice'c sn ado 649-'3e2 Fannin Mae/Freddie Mot UNIFORM INF www.doemagb.eom Fo+m 3200 1/05 EXHIBIT • • • • _ N sod(b)any sums already collected from roe which exceeded permitted limits will be refunded to me. The Note 0 cscr Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a direct payment n C ■T1 to me. if a refund reduces Principal,the reduction will be treated as a partial Prepayment. D 6. BORROWER'S FAILURE TO PAY AS REQUIRED n v r- (A) Late Charge for Overdue Payments —4 n r If the Note Holder has not received the lull amount of any monthly payment by the end of 15 ;< l' calendar days after the date it is due,I will pay a late charge to the Note Holder. The amount of the charge will be 5.000 56 of my overdue payment of principal and interest. I will pay this late charge promptly but only 0 7 once un each late payment. (B) Default Ill do not pay the full amount of each monthly payment on the date it is due,I will be in default. ll1 • (C) Notice of Default If I am in default,the Note Holder may send me a written notice telling me that if l do not pay the overdue amount by a certain date,the Note Holder may require the to pay immediately the full amount of Principal which has not been paid and all the interest that l owe on that amount. That date must be at least 30 days after the date on which the notice is mailed to me or delivered by other means. (D) No Waiver By Note Holder Even if,at a time when I am in default,the Note Holder does not require me to pay immediately in full as described above,the Note Holder will still have the right to do so if I am in default at a later time. (E) Payment of Note Holder's Costs and Expenses If the Note Holder has required the to pay immediately in full as described above,the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note so the extent not prohibited by applicable law. Those expenses include,for example,reasonable attorneys'fees. 7. GIVING OF NOTICES Unless applicable law requires a different method,any notice that must be given to me under this Note will be given by delivering it or by mailing it by GM class mail to we at the Property Address above ur at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first class mail to the Note Holder at the address sated in Section 3(A)above or at a different address ill am given a notice of that different address. 8. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note,each person is fully and personally obligated to keep all of the promises made in this Note,including the promise to pay the full amount owed. Any person who is a guarantor,surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations,including the obligations of a guarantor.surety or endorser of this Note,is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 9. WAIVERS I and any oder person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor. "Presentment'means the right to require the Note Holder to demand payment of amounts due. `Notice of Dishonor"means the right to require the Note Holder to give notice to other persons that amounts due have trot been paid. 10. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note,a Mortgage,Deed of Trust,or Security Deed(the'Security Instrument"). dated the same date as this Note,protects the Now Holder from possible losses which might result if I do not keep 3NITIAL HERE ' MULTISTATE FIXED RATE NOTE--Stngte Family Dochank' !ssntm 410044s.1162 Fannie M.NFeddie Mar UNIFORM INSTRUMENT www.docmegk.com Firm 3200 1101 Page 2 at 3 • • 1 the promises which I make in this Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note, Some of those conditions are dcst:ribcd as follows: j ! If all or any part of the Property or any Interest in the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred)without Lender's prior written consent.Lender may require immediate payment in full of all sums secured by this Security tv Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by O `3 Applicable Law- , It Lender exercises this option,Lender shall give Borrower notice of acceleration. The notice shall I t n C� provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 >�.f -;: 11 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay o-1 r` these sums prior to die expiration of this period,Lender may invoke any remedies permitted by this — V 1 Security Instrument without further notice or demand on Borrower. -'<r'.. rn WITNESS THE HAND(S)AND SEAL(S)OF THE UNDERSIGNED. ---m 2 0 *2' N > kfl ' NO �/74r�f .. !iLG (Seal) _ (Seal) TRACY L. DJ(BL�Y -Borrower -Borrower • Tr,TF;F10RDip • ., 1. 1 /4 t .) (Seal) '-t'I7/ O a.9,., ••f -Borrower -Borrower ia Ey_Lir- /.. `_ 61OU thrum PrIacr.en1+ Date (Seal) (Seal) -Borrower -Borrower (Sign Original Only/ MULTISTATE FIXED RATE NOTE-Single Famay DocMagkeasi 1w649-7362 Fannie Mine/Freddie Mac UNIFORM INSTRUMENT www.docnrayic.corn Form 3200 1101 Page 3 of 3 • • • • • g ADDENDUM TO NOTEr 4m 2 R7 71 0 Loan Number: W D p Date: 05/15/2006 Borrower: TRACY L. DABY Property Address: 1911 H STREET, IOWA CITY, IOWA 52240 IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. 4111P • J_riJid 57 -1• % _ ,rrower ' Y L. D• : late Borrower Date Borrower Date Borrower Date Borrower Date Borrower Date IOWA ADDENDUM TO NOTE DOCM,gk CR1aDr 003449-,302 09112!03 www.docmogic.com G.W ana NPuT �o- __ - 7/:�NED III111N1i11I1�11�1I111Ul j[Ji� ai'.ff) Doc ID: 020839430013 TVD•: OEN Recorded: 08/23/2008 at 02:21:41 PM Fee Amt: 877.00 Peas 1 of 15 Johnson County Iowa \ Klm Painter County Recorder BK4027 P0371-385 liglitillEfall - 57e, _ N g a r 'r1 -< N r• V st1 This Instrument Prepared By: R1 'v " g� w PREPAREI) 13Y Ana a , After Recording Return To: AFFILIATED FINANCIAL GROUP, INC. A1AAY KEIit/ LIN t 5690 DTC , SUIT ENGLEWOOD, COLORADO 80111E 400F, 303- 740— 1110 Address Tax Statement To: AFFILIATED FINANCIAL GROUP, INC. I 5690 DTC BOULEVARD, SUITE 400E ENGLEWOOD, COLORADO 80111 [Spam'Above This Line For Recording Data) MORTGAGE Loan Number: DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, i i 13, 18,20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument"means this document, which is dated MAY 15, 2006 ,together with all Riders to this document. (B) "Borrower"is TRACY L. DABY • Borrower is the mortgagor under this Security Instrument. (C) "Lender"is AFFILIATED FINANCIAL GROUP, INC. • Lender is a COLORADO CORPORATION organized and existing under the laws of COLORADO Lender's address is 5690 DTC BOULEVARD, SUITE 400E, ENGLEWOOD, COLORADO , 80111 Lender is the mortgagee wider this Security Instrument. Legal description and parcel identification number located on page 3 of this document. %WPM.HERS IOWA—Single Family--Fannie Mae/Freddie Mec UNIFORM INSTRUMENT DocMegic eAtrOVX0#00 549-1362 Form 3016 1/01 Page 1 of 15 www.docmagfc.com I .1,!,Rm. EXHIBIT 13 • (D) "Note"means the promissory note signed by Borrower and dated MAY 15, 2006 The Note states that Borrower owes Lender ONE HUNDRED THIRTY-SIX THOUSAND FIVE HUNDRED AND 00/100 Dollars(U.S.$ 136, 500.00 ) plus interest. Borrower has promised to pay this debt inregular Periodic Payments and to pay the debt in full not later than JUNE 1, 2036 (E) "Property"means the property that is described below under the heading"Transfer of Rights in the Property." (F) "Loan"means the debt evidenced by the Note,plus interest,any prepayment charges and late charges due under the Note,and all sums due under this Security instrument,plus interest. (G) "Riders"means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower(check box as applicable): 0 ❑ Adjustable Rate Rider 0 Planned Unit Development Rider n ❑ Balloon Rider ❑ Biweekly Payment Rider { ❑ 1-4 Family Rider ❑ Second Home Rider h v (� 0 Condominium Rider [1 Other(s) [specify] -e r m o• 23 O rn D O • O (H) "Applicable Law"means all controlling applicable federal,state and local statutes,regulations,ordinances and administrative rules and orders(that have the effect of law)as well as all applicable final, non-appealable judicial opinions. (I) "Conununity Association Dues,Fees,and Assessments"means all dues,fees,assessments and other charges that are imposed on Borrower or the Property by a condominium association,homeowners association or similar organization. (J) "Electronic Funds Transfer"means any transfer of funds,other(liana transaction originated by check,draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument,computer,or magnetic rape so as to order, instruct,or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to,point-of-sale transfers,automated teller machine transactions, transfers initiated by telephone, wire transfers,and automated clearinghouse transfers. (K) "Escrow Items"means those items that are described in Section 3. (L) "Miscellaneous Proceeds"means any compensation, settlement,award of damages,or proceeds paid by any third party(other than insurance proceeds paid under the coverages described in Section 5)for: (i)damage to,or destruction of,the Property;(ii)condemnation or other taking of all or any part of the Property;(iii)conveyance in lieu of condemnation; or(iv)misrepresentations of,or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insurance"means insurance protecting Lender against the nonpayment of,or default on,the Loan. (N) "Periodic Payment"means the regularly scheduled amount due for(i)principal and interest under the Note, plus(ii)any amounts under Section 3 of this Security Instrument. (0) "RESPA"means the Real Estate Settlement Procedures Act(12 U.S.C. §2601 et seq.)and its implementing regulation,Regulation X(24 C.F.R. Part 3500), as they might be amended from time to time,or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA"refers to all requirements and restrictions that are imposed in regard to a"federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan"under RESPA. INITIAL HERE JI IOWA—Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMevrc('JFeevma d'O44S-1367 Form 3016 1/01 Pago 2 of 15 www.docmagle.com 131111A nor • • (P) "Successor in Interest of Borrower"means any party that has taken title to the Property, whether or not that pany has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably mortgages, grants and conveys to Lender, with power of sale,the following described property located in the COUNTY of JOHNSON (Type of Recording Jurisdiction' (Name of Recording Jurisdiction] LOT 3 IN BLOCK 31, IN THE EAST IOWA CITY, JOHNSON COUNTY, IOWA, ACCORDING TO THE RECORDED PLAT THEREOF. A.P.N. : 1014432002 O D� r. rommi =(0 -<m O w which currently has the address of 1911 H STREET (Street) O IOWA CITY , Iowa 52240 ("Property Address"): [City] [Zip Code( TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this.Security Instrument as the"Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands,subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal,Interest,Escrow Items,Prepayment Charges,and Late Charges. Borrower shall pay when due the principal of,and interest on,the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, • INITIAL HERE It) IOWA-Sinpla Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Doc-Magic Oaten=807-649-1362 Form 3016 1/01 Page 3 of 15 www.docmagic.com o • • V o �m I o23 Lender may require that any or all subsequent payments due under the Note and this Security Instrument be mad �lhel one or more of the following forms,as selected by Lender: (a)cash;(b)money order;(c)certified check,bank chat, treasurer's check or cashier's check,provided any such check is drawn upon an institution whose deposits are insured by a federal agency,instrumentality, or entity;or(d)Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender • may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date,then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time.Lender shall either apply such funds or return them to Borrower. If not applied earlier,such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application or Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a)interest due under the Note; (b)principal due under the Note;(c)amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due, Any remaining amounts shall be applied first to late charges,second to any other amounts due under this Security Instrument,and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due,the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received front Borrower to the repayment of the Periodic Payments if,and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments,such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments,insurance proceeds,or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date,or change the amount,of the Periodic Payments. 3. Funds for Escrow items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note,until the Note is paid in full, a sum(the "Funds") to provide for payment of amounts due for: (a)taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b)leasehold payments or ground rents on the Property, if any; (c)premiums for any and all insurance • required by Lender under Section S;and(d)Mortgage Insurance premiums,if any,or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called'Escrow Items." At origination or at any time during the term of the Loan,Lender may require that Community Association Dues,Fees,and Assessments,if any,be escrowed by Borrower,and such dues,fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borrower shall pay directly,when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and,if Lender requires,shall furnish to Lender receipts evidencing such payment IMiTIA1 HERE r IOWA—Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMagIc Critamaaa 8066414aa2 Form 3018 1101 Page 4 of 15 www.docmaglc.com '0014 mu a� 11 I v --I n rn -� within such time period as Lender may require. Borrower's obligation to make such payments and to provide rece W shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument.as the plutr6e CP "covenant and agreement"is used in Section 9. If Borrower is obligated to pay Escrow Items directly,pursuatiC to a waiver,and Borrower fails to pay the amount due for an Escrow Item,Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and,upon such revocation,Borrower shall pay to Lender all Funds,and in such amounts, that are then required under this Section 3. Lender may,at any time,collect and hold Funds in an amount(a)sufficient to permit Lender to apply the Funds at the time specified under RESPA,and(b)not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Punds shall be held in an institution whose deposits are inured by a federal agency, instrumentality,or entity(including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank, Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing,however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge,an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow,as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,as defined under RESPA, Lender shall notify Borrower as required by RESPA,and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow,as defined under RESPA,Lender shall notify Borrower as required by RESPA,and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA,but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges;Liens. Borrower shall pay all taxes,asses..sments,charges,fines,and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property,if any, and Community Association Dues,Fees, and Assessments, if any. To the extent that these items are Escrow Items, Borrower shall pay them in the maturer provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender,but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in,legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending,but only until such proceedings are concluded; or(c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. MMMT HERE 10WA—Single Family--Fannie Mao/Freddie Mac UNIFORM INSTRUMENT DocMogrc eiil'auDDeo eo0.e'9.1362 Form 3016 1/01 Page 5 of 15 www.docmRgle.com 143016 mit 1 , f _ N O >� 11 °� N r -I C) 1 r ill i� 2 O 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on to s w Property insured against loss by fire, hazards included within the term"extended coverage,"and any other hazels including,but not limited to,earthquakes and floods, for which Lender requires insurance. This insurance shalrbe p maintained in the amounts(including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice,which right shall not be exercised unreasonably. Lender may require Borrower to pay,in connection with this Loan,either: (a)a one- time charge for flood zone determination,certification and tracking services;or(b)a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. if Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore,such coverage shall cover Lender,but might or might not protect Borrower,Borrower's equity in the Property, or the contents of the Property, against any risk,hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender tuner this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable,with such interest,upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies,shall include a standard mortgage clause,and shall name Lender as mortgagee and/or as an • additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage,not otherwise required by Lender, for damage to,or destruction of,the Property,such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender. tender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,whether or not the underlying insurance was required by Lender,shall be applied to restoration or repair of the Property,if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period,Lender shall have the right to hold such insurance proceeds until Lender has had au opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters,or other third parties, retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. if the restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due,with the excess,if any,paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Letider"that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the itiMAL HERE • 'p IOWA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT aocMsyte Orono=600449-t3$2 Form 3016 1/01 Page 6 at 15 www.docmagic.com 1.0016.Imt • Drl - -�n r notice is given. In either event,or if Lender acquires the Property under Section 22 or otherwise,Borrower he&1FJ assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount not to exceed the amounts u I I. under the Note or this Security Instrument,and(b)any other of Borrower's rights(other than the right to any rend of unearned premiums paid by Borrower)under all insurance policies covering the Property,insofar as such rights tz,p are applicable to the coverage of the Property. Lender may use the insurance proceeds either co repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy,establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the dale of occupancy,unless Lender otherwise agrees in writing,which consent shall not be unreasonably withheld,or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation,Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property,allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage, If insurance or condemnation proceeds are paid in connection with damage to,or the taking of, the Property,Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property,Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable'ctuse, Lender may inspect the interior oldie improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process. Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false,misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest In the Property and Rights Under this Security Instrument. If(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy,probate,for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or(c)Borrower has abandoned the Property,then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument,including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include,but are not limited to: (a)paying any sums secured by a lien which has priority over this Security Instrument;(b)appearing in court;and(c)paying reasonable attorneys'fees to protect its interest in the Property and/or rights under this Security Instrument,including its secured position in a bankruptcy proceeding. Securing the Property includes,but is not limited to,entering the Property to make repairs,change locks,replace or board up doors and windows,drain water from pipes,eliminate building or other code violations or dangerous conditions,and have utilities turned on or off. Although Lender may take action under this Section 9,Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. • . . if s" `)j7 IOWA••Single Family--Fennle Mae/Freddte Mac UNIFORM INSTRUMENT DocMag/c CRAM=e00e49-1352 Form 3016 1/01 Page 7 of 15 www.docnt glc_com a10161dt • MOM D -Ti —a n-c N —I C) J r- 111 m _m Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower securedbyiic yea Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shagbe payable, with such interest,upon notice from Lender to Borrower requesting payment. It this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan,Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. lf, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage insurance previously in effect,at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect,from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available,Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept,use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full,and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage(in the amount and for the period that Lender requires)provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect,or to provide a non-refundable loss reserve,until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender(or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time,and may enter into agreements with other parties that share or modify their risk,or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party(or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available(which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements,Lender,any purchaser of the Note,another insurer,any reinsurer,any other entity,or any affiliate of any of the foregoing,may receive(directly or indirectly)amounts that derive from(or might be characterized as)a portion of Borrower's payments for Mortgage Insurance,in exchange for sharing or modifying the mortgage insurer's risk,or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance,and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has-if any-with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the • eRg �rI IOWA--Single Family--Fannia Mae/Freddie Mao UNIFORM INSTRUMENT DocMogIc a 600-649. J62 Form 3016 1101 Page 8 of 15 www.docmaglc-com ,.v,, ..to, O > l �0 m Mortgage Insurance terminated automatically,and/or to receive a refund of any Mortgage Insurance premium w that were unearned at the time of such cancellation or termination. 2C 11. Assignment of Miscellaneous Proceeds; Forfeiture. An Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged,such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. if the restoration or repair is not economically feasible or Lender's security would be lessened,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due,with the excess,if any,paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking,destruction,or loss in value of the Property,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking,destruction,or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking,destruction,or loss in value, unless Borrower and Lender otherwise agree in writing,the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a)the total amount of the sums secured immediately before the partial taking,destruction,or loss in value divided by(b)the fair market value of the Property immediately before the partial taking,destruction,or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking,destruction,or loss in value is less than the amount of the sums secured immediately before the partial taking,destruction,or loss in value,unless Borrower and Lender otherwise agree in writing,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the Opposing Party(as defined in the next sentence)offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given,Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument,whether or not then due. "Opposing Party"means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding,whether civil or criminal,is begun that,in Lender's judgment,could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and,if acceleration has occurred,reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment,precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. HERE qp IOWA—Single Family—Fannie MaalFreddie Mac UNIFORM INSTRUMENT DocMeglc Fnov00 aoo449• .362 Form 3016 1101 Page 9 of 15 www.docmagic.conr 1.11116 m. • • • ry O n-< —1 n v r III 12. Borrower Not Released;Forbearance By Lender Not a Waiver. Extension of the time for paynnerre T w modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or)ay Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest CD of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons,entities or Successors in Interest of Borrower or in amounts less than the amount then due,shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability;Co-signers;Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However,any Borrower who co-signs this Security Instrument but does not execute the Note(a"co-signer"): (a)is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument;and(c)agrees that Lender and any other Borrower can agree to extend,modify,forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing,and is approved by Lender,shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind(except as provided in Section 20)and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including,but not limited to,attorneys'fees,property inspection and valuation fees. In regard to any other fees,the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges,and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and(b)any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge(whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. AU notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address,then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's INITIAL HERE 'v IOWA--Single Family—Fannie Mae/Freddie Mao UNIFORM INSTRUMENT OoeMag/e eXcitavom 800649-r3e2 Form 3016 1/01 Page 10 of 15 www.docmaglc.com .»1R".. • • _ N O D�l C7-< R1 r- -***1 m 2 0 .E5 33 address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connec en with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lend r. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law;Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law,such conflict shall not affect other provisions of this Security lnstrun enc or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a)words of the masculine gender shall mean anti include corresponding neuter words or words of the feminine gender;(b)words in the singular shall mean and include the plural and vice versa;and(c)the word "may"gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property"means any legal or beneficial interest in the Property, including,but not limited to, those beneficial interests transferred in a bond for deed,contract for deed,installment sales contract or escrow agreement,the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However,this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions,Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b)such other period as Applicable Law might specify for the termination of Borrower's right to reinstate;or(c)entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: (a)pays Lender all stints which then would be due under this Security Instrument and the Note as if no acceleration had occurred;(b)cures any default of any other covenants or agreements;(c)pays all expenses incurred in enforcing this Security Instrument,including, but not limited to,reasonable attorneys' fees,property inspection and valuation fees,and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument;and(d)takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument,and Borrower's obligation to pay the sums secured by this Security Instrument,shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms, as selected by Lender: (a)cash;(b)money order;(c)certified check,bank check,treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency,instrumentality or entity;or(d)Electronic Funds Transfer. Upon reinstatement by Borrower,this Security Instrument and obligations secured hereby shall remain fully effective as if uo acceleration had occurred. However,this right to reinstate shall not apply in the case of acceleration under Section 18. IOWA--Single Family—Fannie Mao/Freddie Mac UNIFORM INSTRUMENT DocMaglc a7vuL00 800-6•9-r3a2 Form 3016 1101 Page 11 0116 www.docmaglc.com . • o n e_ m 20. Sale of Note;Change of Loan Servicer;Notice of Grievance. The Note or a partial interest in the Note al 0 (together with this Security Instrument)can be sold one or more times without prior notice to Borrower. A sale mi x w result in a change in the entity(known as the"Loan Servicer") that collects Periodic Payments due under the and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Secut CD Instrument,and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer,Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note,the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence,join,or be joined to any judicial action(as either an individual litigant or the member of a class)that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of,this Security Instrument, until such Borrower or Lender has Doti fled the other party(with such notice given in compliance with the requirements of Section 15)of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Illtnardous Substances. As used in this Section 21: (a) "Hazardous Substances"are those substances defined as toxic or hazardous substances,pollutants,or wastes by Environmental Law and the following substances: gasoline, kerosene,other flammable or toxic petroleum products,toxic pesticides and herbicides,volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) `Environmental Law"means federal laws and laws of the jurisdiction where the Property is located that relate to health,safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence,use,disposal,storage,or release of any Hazardous Substances, or threaten to release any Hazardous Substances,on or in the Property. Borrower shall not do,nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition,or(c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence,use,or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including, but not limited to, hazardous substances in consumer products). Borrower shall promptly give Lender written notice of(a)any investigation,claim,demand,lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Envirorunental Law of which Borrower has actual knowledge,(b)any Environmental Condition,including but not limited to, any spilling, leaking,discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns,or is notified by any governmental or regulatory authority,or any private party,that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall IOWA—Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT DocMaBk eVa wr0 a00-04343er Form 3016 1/01 Pape 12 0l 17 www.doemagie_eom .416115 • O a c_ >zi C)-C N --I(") V ;� .7(i d11 m -D promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create aa@y D — obligation on Lender for an Environmental Cleanup. 44.J D o NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: O 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument(but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a)the default;(b)the action required to cure the default; (c)a date,not less than 30 days from the date the notice is given to Borrower,by which the default must be cured;and(d)that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice,Lender at its option may require Immediate payment In full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22,including, but not limited to,reasonable attorneys'fees and costs of tide evidence. 23. Release. Upon payment of all sums secured by this Security Instrument,Lender shall release this Security Instrument. Lender may charge Borrower a fee for releasing this Security Instrument,but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waives. Borrower relinquishes all right of dower and waives all right of homestead and distributive share in and to the Property. Borrower waives any right of exemption as to the Property. 25. HOMESTEAD EXEMPTION WAIVER. I UNDERSTAND THAT HOMESTEAD PROPERTY IS IN MANY CASES PROTECTED FROM THE CLAIMS OF CREDITORS AND EXEMPT FROM JUDICIAL SALE;AND THAT BY SIGNING THIS MORTGAGE, I VOLUNTARILY GIVE UP MY RIGHT TO THIS PROTECTION FOR THIS MORTGAGED PROPERTY WITH RESPECT TO CLAIMS BASED UPON THIS MORTGAGE. Y L.lABY [Date] [Date] [Date) [Date] •[Date] [Date] IOWA—Single Family--Fannia Mae/Fraddla Mac UNIFORM INSTRUMENT bocMaplc erAgovoato accka494362 Form 3016 1/01 Page 13 of 15 www.docmaglc.com ••30115 mut i O n r -IC m =<m 26. Redemption Period. If the Property is less than 10 acres in size and Lender waives in any foreclosu6 proceeding any right to a deficiency judgment against Borrower,the period of redemption from judicial sale shall 15 A W reduced to 6 months. If the court finds that the Property has been abandoned by Borrower and Lender waives ata O right to a deficiency judgment against Borrower,the period of redemption from judicial sale shall be reduced to 60 days. The provisions of this Section 26 shall be construed to conform to the provisions of Sections 628.26 and 628.27 of the Code of Iowa. IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. (Seal) (Seal) TRACY L. Y -Borrower -Borrower (Seal) -BorroweraBorwer - (Seal) (Seal) -Borrower -Bonower Witness: Witness: IOWA—Single Family-Fannie Mae/Freddie Mao UNIFORM INSTRUMENT OocMegre CRUM=SX 849.1362 Form 3016 1/01 Page 14 of 15 www.docmagic.com 10016 as i p n 1V o� I —i° • m 0 teti ' l5paca Below This Line For Acknowledgment) State of IOWA )ss- County of J o hRbo N ) On this `J day of M A `{ 2.00 6 , A.D., ,before me, ,personally appeared TRACY L. DABY S t n p i0 to me known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that he/she/they executed the same as his/her/their voluntary act and deed. ibb Notary P's.; in th=State of Iowa (Seal, if any) My commission expires: 47;47 4c148414,*Ye • HER IOWA—Single Famfly—Fannle Mae/Freddle Mac UNIFORM INSTRUMENT DocxagIc ec4641710 8006491302 Farm 3018 1/01 Page 15 of 15 www.doemagic.com AFFIDAVIT STATE OF IOWA SS COUNTY OF POLK I, Benjamin W. Hopkins, being first duly sworn on oath depose and state that I am one of the attorneys for the Plaintiff in this cause; that I am a regular practicing attorney engaged in this case; that there has been no agreement, express or implied, between myself and my client, or between myself and any other person except attorneys associated with me in this case, for any sharing or division of the attorney fees to be taxed herein. I further depose and state that true copies of the note and mortgage and any other documents declared upon in the foregoing Petition are now in my actual possession; that I have read the above and foregoing Petition, know the contents thereof, have personal knowledge of the facts therein stated, and that the statements and allegations therein are true a- I verily believe. r A Ben, - fir �. - AT0003573 Subscribed and sworn to before me thi Aday of June , 2008 . I 1 Notary Public in and -•S t 'n PATRICIA S. WOLF State of Iowa >_.1 �.. Commission Number 732803 n .; My Commission Expires --1 C7 ow . 2 -4_ 11 'G17T1 v 0� 9 Exhibit "C" END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE• PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540 • (319)356-6030 PLAINTIFF: WELLS FARGO BANK NA Docket No 08-02947 State[IOWA vs. Court No EQCV069383 f County [JOHNSON DEFENDANT: CITY OF IOWA CITY Ref No Received 105/16/2008 DEFENDANT: ALLEN, BRAD DEFENDANT: ALLEN, TWYLLA Requestor(s) Phone SARCONE,JAMES V JR (515)283-4624 Name iCITY OF IOWA CITY Party Type DEFENDANT Address[410 E WASHINGTON ST IOWA CITY 1 IA1 52240- Phone (319)356-5030 E-Mail I _ Fax L_ Employer ] Zone L Comments Documents Document Serve by Date OE PSR Description/Special Instructions ,ORIGINAL NOTICE AND U PETITION y� Service Information Attempts Log Date Time Server Notes Date (q' V V Time 1.7j Type Ci*`F cc' ) --{ Party i! r J Lel+ Q V,1)6V 1 Relationshi -c"`-< C.\ �'U 1t--- Race ` > � Sexy DOB Location ,11 C W 6 h3iG N 5( Miles , Fee Officer 1_ Notes: 0 a "n )%* - -o rn � o Printed: Friday, May 16,2008 Page 1 of 1 • IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY WELLS FARGO BANK N.A.,TRUSTEE FOR ) EQUITY NO. C-Q `/ 00, 3 CARRINGTON MORTGAGE LOAN TRUST ) SERIES 2006-NC5 ASSET-BACKED PASS ) THROUGH CERTIFICATES, ) 0 <-0 ) ORIGINAL NOTICE n Plaintiff ) 3>—I C7 r- ) m V. ) r _m BRAD ALLEN; TWYLLA ALLEN;ROTH ) p 7 N JEWELERS LTD.;CITY OF IOWA CITY,IOWA ) Defendants. ) TO THE ABOVE-NAMED DEFENDANTS: You are notified that a petition has been filed in the office of the clerk of this court naming you as the Defendants in this action. A copy of the petition, and any documents filed with it, is attached to this notice. The name and address of the Plaintiff's attorney is James V. Sarcone, Jr., Belin law Firm, The Financial Center, 666 Walnut Street Suite 2000, Des Moines, Iowa 50309-3989. The attorney's phone number is 515-283-4624; facsimile number 515-283- 4653. You must serve a motion or answer within twenty (20)days after service of the Original Notice upon you. Within a reasonable time thereafter you must file your motion or answer with the Clerk of Court for Johnson County, at the County Courthouse in Iowa City, Iowa. If you do not,judgment by default may be rendered against you for the relief demanded in the Petition. If you require the assistance of auxiliary aids or services to participate in court because of a disability, immediately call your district ADA coordinator at 319-398-3920 ext'. -(If you are hearing impaired,call Relay Iowa TTY at 1-800-735-2943.) 1/ 00 LOD M BERi(LEY () El CL OF THE ABOVE CO T C/ IMPORTANT: YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS C CL C w� C ?� P �►.__� 1 1 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY WELLS FARGO BANK N.A.,TRUSTEE FOR ) EQ�T�Q.�0 � FY CARRINGTON MORTGAGE LOAN TRUST ) ((T.11 SERIES 2006-NC5 ASSET-BACKED PASS ) THROUGH CERTIFICATES, ) PETITION(FOR MOR t GEL' Plaintiff ) FORECLOSURE AND ':`1 zi IVt) v. ) L u a, BRAD ALLEN;TYLLA ALLEN; ROTH ) W �� S JEWELERS LTD.;CITY OF IOWA CITY,IOWA ) Defendants. ) COMES NOW the Plaintiff and for cause of action against the Defendants, the Plaintiff states: NOTICE THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION. THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE COURT A WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND, THE SALE WILL BE DELAYED UNTIL TWELVE MONTHS (OR SIX MONTHS IF THE PETITION INCLUDES A WAIVER OF DEFICIENCY JUDGMENT) FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE- FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS YOUR 1,10WILbRESIDENCE BUT NOT A ONE-FAMILY OR TWO-FAMILY DWELLING' HAVE NO RIGHT OF REDEMPTION AFTER THE SALE. THE PURCHASER THS �� r" SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MOR��74 GED m PROPERTY. YOU MAY PURCHASE AT THE SALE. * a o I 1. That Plaintiff is a foreign corporation serving in capacity as Trustee; Defendants Brad Allen and Twylla Allen are natural persons last known to reside in Johnson County, Iowa; Defendant City of Iowa City, Iowa is a political subdivision of the State of Iowa; remaining Defendant is a corporation doing business in the State of Iowa. 2. That on or about the 25th day of October, 2006, the Defendant, Brad Allen made, executed and delivered to New Century Mortgage Corporation one certain Promissory Note in writing bearing the date aforesaid in the principal sum of $140,800.00 bearing interest at the adjustable rate of 9.95 percent per annum after maturity, and Exhibit"A" hereto attached and by this reference incorporated herein and made a part hereof is a true and correct copy of said Promissory Note. 3. That at the time of the execution of said Promissory Note, Exhibit"A" aforesaid, and as a part of the same transaction for the purpose of securing said Note with interest thereon and other sums hereinafter mentioned, the said Defendants, Brad Allen and Twylla Allen made, executed and delivered to Mortgage Electronic Registration Systems, Inc., as nominee for New Century Mortgage Corporation one certain Mortgage in writing, transferring and conveying unto Mortgage Electronic Registration Systems, Inc., as nominee for New Century Mortgage Corporation the following real estate situated in Johnson County, Iowa,to-wit: Lots One (1) and Two (2), Block Seven (7), Morningside Addition, Iowa City, Iowa, situated in Johnson County, Iowa. N and Exhibit"B"hereto attached and by this reference incorporated herein and mIde a pit heredip is a true and correct copy of said Mortgage. D-▪ 71 �� 0-< — r- ` nrit 4. That on November 27, 2006, the said Mortgage was duly recorded in Boo-�• 4ldsl104O 0 373 N Page 960, of the records of the office of the Recorder of Johnson County, Iowa. cpL.) 5. The aforesaid Mortgage has been assigned to the Plaintiff herein. 6. That the said Defendant, Brad Allen, has defaulted in the monthly payment of interest and principal and has neglected and failed to pay the installments as provided in the written , • 1 y instrument aforesaid and is now in default of the said payments for several months last past, and the Plaintiff does now elect to and hereby does declare the whole of said Note and Mortgage due and payable forthwith. 7. That the balance due on said Note and Mortgage as of May 13, 2008, is $162,167.37, including principal and interest and advancements, after allowing due credit to the Defendants for all payments made. 8. That in the preparation of this Petition and cause of action for presentation to the Court, it was necessary for Plaintiff to employ an attorney to represent and serve it herein, and for this purpose Plaintiff has retained and employed Belin Lamson McCormick Zumbach Flynn, A Professional Corporation, Attorneys at Law of this Court. 9. That the Plaintiff is willing and now offers, upon payment of the amount due it as heretofore set forth, to cancel the Note declared on, discharge of record the Mortgage securing the same, and to do all things that equity and good conscience may require of it. 10. That the Defendants herein have or claim to have some lien upon or interest in the mortgaged premises, but the Plaintiff avers that whatever lien or interest they or any of them may have thereon or herein, the same is junior and inferior to the lien of Plaintiff's gortgagg C7 Exhibit"B"and the amounts hereinbefore set out. D ri 71 11. That Plaintiff waives its rights to a deficiency judgment in this matter. Zi 0 '° m m --c3 0 N 12. That a Notice of Right to Cure Default was mailed to the Defendant Bllen, more than 30 days prior to the filing of this foreclosure action/Petition and the defauP s set o tB therein have not been cured. 13. Twylla Allen is included as a Defendant herein because she is the spouse of the record titleholder herein of the above property and a party in possession of said property. 14. Roth Jewelers Ltd. is included as a Defendant herein because of a judgment rendered October 17, 2003 in the amount of$811.55 plus interest and costs, rendered in its favor against Brad Allen in SCSC057655 of the Johnson County, Iowa records. This judgment is inferior to Plaintiffs purchase money mortgage. t 15. City of Iowa City, Iowa is included as a Defendant herein because of a mortgage in the sum of(no amount shown) covering the above property executed in its favor by Brad Allen and recorded December, 13 2006 in Book 4110 Page 124 of the Johnson County, Iowa records. WHEREFORE, Plaintiff prays: FIRST: That a Receiver be appointed by the Court to take immediate possession of the mortgaged premises hereinbefore described, with power and authority and the duty to keep, repair, maintain and insure the premises, buildings and other improvements thereon; to lease the same and collect the rents, issues and profits arising which may be had therefrom, and to retain and dispose of said rents and profits as said Mortgage provides and as the Court may hereafter determine and direct. SECOND: (a) That the Plaintiff have judgment in rem, against the mortgaged premises in the sum of $162,167.37 with interest at 9.95 percent from May 13, 2007, and have such additional sum of sums as may hereafter be advanced for continuing the abstract of title or other purposes authorized by said Note and Mortgage and by Iowa law. (b) For reasonable attorney's fees upon the Note, interest and other sums advanced by the Plaintiff as set out above, a8d for tj costs of this action. THIRD: That said judgment be declared to be a lien upon the mortgaged=pt0misect -<r involved herein from and after the date of execution of said Mortgage, Exhibit"BS 10-with 7C N October 25, 2006, and upon the rents, issues and profits arising and which may be had refrofxn w from and after the date of filing of this Petition, and that said lien be declared to be prior and paramount to the lien and interest of the Defendants upon and in the said property. FOURTH: That Plaintiff's Mortgage aforesaid, Exhibit"B", be foreclosed, and that a special execution issue for the sale for the mortgaged premises, or so much thereof as may be necessary to satisfy the said judgment with interest and costs. FIFTH: That in the event the property aforesaid does not sell for sufficient to satisfy the judgment herein, the net proceeds from the rents, issues and profits which may be had therefrom, from and after this date, be applied upon said judgment until the same is fully satisfied. SIXTH: That after the Sheriff's sale of the above described premises pursuant to a special execution issued herein,a Writ of Possession issue herein under seal of this Court directed to the Sheriff of Johnson County,Iowa,commanding him to put the Grantee under Sheriff's Deed in possession of the premises deeded to him, and to remove any Defendants, or persons claiming by, through or under any of them, or any person in possession thereof, out of such possession of said premises. SEVENTH: That Plaintiff have such other and further relief as the Court may find it to be entitled to in equity. BELIN LAMSON McCORMICK ZUMBACH FLYNN A Professional Corporation BY J S V. SARCONE,JR. The Financial Center 666 Walnut Street Suite 2000 Des Moines,IA 50309-3989 Telephone: 515-243-7100 AT0006913 O D • m � O 67C w D:W ewcentu ry\A l en\Petset 05-08.Doc • e NV 1111 lll� MIN: 100488910105522618 rwTe ADJUSTABLE RATE NOTE (LIBOR Six-Month Index (As Published In The Wall Street Journal)- Rate Caps) THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE AND MY MONTHLY PAYMENT. THIS NOTE LIMITS THE AMOUNT MY INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I MUST PAY. October 25, 2006 Iowa City Iowa [Date] 'City) [State] N 122 S 7TH AVE, Iowa City, IA 52245 O 8 [Property Address] t7 x D=] -c 1. BORROWER'S PROMISE TO PAY 710 m {r e In return for a loan that I have received,I promise to pay U.S. $140,800.00 (this a�fbtunt "Principal"),plus interest, to the order of Lender. Lender is New Century Mortgage CorporationO 33 w • I will make all payments under this Note in the form of cash, check or money order. •• I understand that Lender may transfer this Note. Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder." 2. INTEREST Interest will be charged on unpaid principal until the full amount of Principal has been paid. I will pay interest at a yearly rate of 9.950 %. The interest rate I will pay may change in accordance with Section 4 of this Note. The interest rate required by this Section 2 and Section 4 of this Note is the rate I will pay both before and after any default described in Section 7(B)of this Note. 3. PAYMENTS (A)Time and Place of Payments I will pay principal and interest by making a payment every month. I will make my monthly payments on the first day of each month beginning on December 1, 2006 I will make these payments every month until I have paid all of the principal and interest and any other charges described below that 1 may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If, on 11/01/2036 , I still owe amounts under this Note,I will pay those amounts in full on that date, which is called the "Maturity Date." I will make my monthly payments at 18400 Von Barman, Suite 1000, Irvine, CA 92612 or at a different place if required by the Note Holder. (B)Amount of My Initial Monthly Payments Each of my initial monthly payments will be in the amount of U.S. $1,230.4 3 _ This amount may change. (C)Monthly Payment Changes Changes in my monthly payment will reflect changes in the unpaid principal of my loan and in the interest rate that I must pay. The Note Holder will determine my new interest rate and the changed amount of my monthly payment in accordance with Section 4 of this Note. 1010552261 MULTISTATE ADJUSTABLE FATE NOTE-LIBORSIX-MONTH INDEX(AS PUBLISHED IN THE WALL STREET JOURNAL)- Single Family-Fannie Mae UNIFORM INSTRUMENT CD-838N (o2)o) Form 3520 1/ 01 fie VMP MORTGAGE FORMS-(800)521-7291 3 „ Papor 4 Ift Is: (ll A ^ � • • • 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A)Change Dates The interest rate I will pay may change on the first day of November, 2009 , and on that day every 6th month thereafter_ Each date on which my interest rate could change is called a "Change Date." (B)The Index Beginning with the first Change Date, my interest rate will be based on an Index. The "Index" is the average of interbank offered rates for six month U.S. dollar-denominated deposits in the London market ("LIBOR"), as published in The Wall Street Journal. The most recent Index figure available as of the first business day of the month immediately preceding the month in which the Change Date occurs is called the "Current Index." If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. (C)Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding Six And Fifty-five Hundredth(a) percentage points( 6.550 %)to the Current Index. The Note Holder will then round the result of this addition to the nearest one-eighth of one percentage point (0.125%). Subject to the limits stated in Section 4(D) below, this rounded amount will be my new interest rate until the next Change Date. The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation will be the new amount of my monthly payment. (D)Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 11.950 % or less than 9.950%. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than One And One-half percentage point(s) ( 1.500 %) from the rate of interest I have been paying for the preceding 6 months. My interest rate will never be greater than 16.950%. (E)Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F)Notice of Changes The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will include information required by law to be given to me and also the title and telephone number of a person who will answer any question I may have regarding the notice. 5. BORROWER'S RIGHT TO PREPAY I have the right to make payments of Principal at any time before they are due. A payment of Principal only is known as a "Prepayment." When I make a Prepayment, I will tell the Note Holder in writing that I am doing so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under this Note. I may make a full Repayment or partial Prepayments without paying any Prepayment charge. The Note Holder will use my Prepayments to reduce the amount of Principal that I owe under this Note. However, the Note Holder may apply my Prepayment to the accrued and unpaid interest on the Prepayment amount before applying my Prepayment to reduce the Principal amount of this Note. If I make a partial Prepayment, there will be no changes in the due dates of my monthly payments unless the Note Holder agrees in writing to those changes. My partial Prepayment may reduce the amount of my • monthly payments after the first Change Date following my partial Prepayment. However, any reduction due to my partial Prepayment may be offset by an interest rate increase. 6. LOAN CHARGES p If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that ttz2interrt or ..n other loan charges collected or to be collected in connection with this loan exceed the permitted limits, them•'() any-such _ loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) an -sums ah dy r- - collected from me that exceeded permitted limits will be refunded to me. The Note Holder may choose to nataiis refund m by reducing the Principal I owe under this Note or by making a direct payment to me. If a refund reduces Prcipal�3he reduction will be treated as a partial Prepayment. • 0 it)1055e61 Form 3520 1!01 ilp-838N (0210) Pie 2 of 4 tnRtgb: ' • • • 7. BORROWER'S FAILURE TO PAY AS REQUIRED (A)Late Charges for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of f f teen calendar days after the date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be 5.000 % of my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment. (B) Default if I do not pay the full amount of each monthly payment on the date it is due, I will be in default. (C) Notice of Default if I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the full amount of Principal that has not been paid and all the interest that I owe on that amount. That date must be at least 30 days after the date on which the notice is mailed to me or delivered by other means. (D)No Waiver By Note Holder Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above, the Note Holder will still have the right to do so if I am in default at a later time. (E)Payment of Note Holder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include,for example, reasonable attorneys' fees. 8. GIVING OF NOTICES Unless applicable law requires a different method,any notice that must be given to me under this Note will be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different address. Unless the Note Holder requires a different method, any notice that must be given to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3(A)above or at a different address if I am given a notice of that different address. 9. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 10.WAIVERS 1 and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor. "Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of Dishonor" means the right to require the Note Holder to give notice to other persons that amounts due have not been paid. Il.UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust, or Security Deed (the "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses that might result if I do not keep the promises that I make in this Note. That Security Instrument describes bow and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions read as follows: _ tv O =1 11 n-c - r_ m m (103)0552/61 6;m 3520M 01 38N 10210) Pogo 3 of 4 •'7� Inhbls /� Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a)Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. F To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. If Lender exercises the option to require immediate payment in full, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies.permittN by this Security Instrument without further notice or demand on Borrower. 0 :r -4 _4 0 •o m m .c t WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED (Seal) (Seal) i .lien -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Sign Original Only) 1010552261 CD-838N 0210) Page4 oil 330 1 11111f q1111I9I11111IM 1119N Doc ID: 020718220020 7voe: GEN Recorded: 11/27/2008 at 11:04:48 AM Fee Amt: $102.00 Page 1 of 20 Johnson County Iowa Kim Painter County Recorder 8K4104 PG960-979 • O co --4 0 `o m rem --v 323 r›..) � (Space Above This Line For Recording Data► EbIL-1 Prepared By: New Century Mortgage Corporation 18400 Von Karman, Ste 1000 Irvine, CA 92612 B00-967-7623 Return to After Recording: Return To: ALL-AMERICAN ESCROW & TITLE N= Cen ry Mortgage Corporation 103 West Main Street 64 r •n Kerman, Ste 1000 Freeport, IL 61032 rvi• = • •2612 F gal Description located on page 16 . -nder name located on page 2. MORTGAGE MIN 100488910105522618 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A)"Security Instrument"means this document,which is dated October 25, 2006 together with all Riders to this document. (B)"Borrower"is Brad Allen and Twylla Allen, Husband and Wife, As Joint Tenants Borrower is the mortgagor under this Security Instrument. 1010552261 IOWA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS Forth 3016 1/01 • ®-6A(IA)(0405).o1 / d Pid s 1 15 hdtiefz VMP Mato Ops SWona,Inc(500)521 t 1. �\°k•c � ) (C) "MFRS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee • under this Security Instrument. MERS is organized and existing under the laws of Delaware, and has an address and telephone number of P.O. Box 2026, Flint, MI 48501-2026, tel. (888)679-MERS. (D) "lender"is New Century Mortgage Corporation Lender is a Corporation ^4 organized and existing under the laws of California O Lender's address is 18400 Von Kalman, Suite 1000, Irvine, CA 92612 <2 =; (E) "Note"means the promissory note signed by Borrower and dated October 25, 2006 n-C , The Note states that Borrower owes Lender ONE HUNDRED FORTY THOUSAND EIGHT HUNDR> ice- t"f AND 00/100 wars (U.S. $ 140,800.00 )plus interest. Borrower has promised to pay this debt in regular PQi is Payments and to pay the debt in full not later than 11/01/2036 `2 (F) 'Property" means the property that is described below under the beading "Transfer of Rightn the _ Property." (G) "Loan"means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note, and all sums due under this Security Instrument,plus interest. (H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower[check box as applicable]: x!Adjustable Rate Rider 0 Condominium Rider I I Second Home Rider n Balloon Rider 0 Planned Unit'Development Rider 0 1-4 Family Rider [1 VA Rider 0 Biweekly Payment Rider ®Other(s) [specify] Arm Rider Addendum (I) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders(that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (J) "Community Association Dues, Fees, and Assessments"means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer,or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an account. Such term includes, but is not limited to, point-of-sale transfers, automated teller machine transactions, transfers initiated by telephone, wire transfers, and automated clearinghouse transfers. i (L) "Escrow Items"means those items that are described in Section 3. (M) "Miscellaneous Proceeds"means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i) damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii)conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. - (N) "Mortgage Insurance"means insurance protecting Lender against the nonpayment of, or default on, the Loan. (0) "Periodic Payment"means the regularly scheduled amount due for(i)principal and interest under the Note,plus(ii)any amounts under Section 3 of this Security Instrument. 1010552261 )n U& . ®-6A(IA)t0405l.o1 Paje2 of 15 Form 3016 1/01 !0r, • • •• t► (P) "RESPA"means the Real Estate Settlement Procedures Act (12 U.S.C. Section 260I et se and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from)time to time, or any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan"under RESPA_ (Q) "Successor in Interest of Borrower"means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i)the repayment of the Loan,and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this `• Security Instrument and the Note. For this purpose, Borrower irrevocably mortgages, grants and conveys to MERS (solely as nominee for Lender and Lender's successors and assigns) and to the successors and assigns of MERS, with power of sale, the following described property located in the County of Johnson [Type of Recording Jurisdiction] (Name of Recording Jurisdiction) See Legal Description Attached Hereto and Made a Part Hereof _ N o b Ao 7:1 o -<r ED-P30 D o Parcel ID Number: 10-11-452-009 which currently has the address of 122 S 7T11 AVE [Street) Iowa City ("Property Address"): [ 1, Iowa 52245 (zip code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument, but, if necessary to comply with law or custom, MERS(as nominee for Lender and Lender's successors and assigns)has the right: to exercise any or all of those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any action required of Lender including, but not limited to, releasing and canceling this Security Instrument_ BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. TI-IIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. 1010552261 infix 6A(1A)(04 05).01 Pie 3 of 15 -7 Form 3016 1101 . • • O UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: >_{ =t 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Chlrges.� Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note- j )any "1 prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escro 4t—ems pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made-8J.S. currency. However, if any check or other instrument received by Lender as payment under the Notejthis ty Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent p`�yments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity;or(d)Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2_ Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments accepted and applied by Lender shall be applied in the following order of priority: (a) interest due under the Note; (b) principal due under the Note; (c) amounts due under Section 3. Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in full. To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments, such excess may be applied to any late charges due. Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum(the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community 1010552261 �nitia br 4�Y Ig0-6A(IA)(640 01 Pia of 15 Form 3016 1101 1LC` Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lend5waivesa Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Boa.croyer's3 obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver ma$opy bei 1 in writing. In the event of such waiver, Borrower shall pay directly, when and where payable, thecunts_ due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender ggires,-o shall furnish to Lender receipts evidencing such payment within such time period as Lender maRire._o Borrower's obligation to make such payments and to provide receipts shall for all purposes be d •=. to 0 be a covenant and agreement contained in this Security Instrument,as the phrase "covenant and a: Lint"to is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a wa tr, and p Borrower fails to pay the amount due for an Escrow Item, Lender may exercise its rights under Section 9 - and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in • accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds, and in such amounts, that are then required under this Section 3. Lender may, at any time,collect and hold Funds in an amount(a)sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured)or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA, but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall/promptly refund to Borrower any Funds held by Lender. 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees,and Assessments, if any. To the extent that these items are Escrow Items,Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b)contests the lien in good faith f)% 1010552261 Initis6'. U -6A(IA)(o4o5).o1 Pme 5 of 15 Foran 3016 1/01 ® j P N o �A . by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion ofeefake to prevent the enforcement of the lien while those proceedings are pending, but only until such proeengs _o rn are concluded; or (c)secures from the holder of the lien an agreement satisfactory to Lender subord' tting the lien to this Security Instrument. If Lender determines that any part of the Property is subject lo . en which can attain priority over this Security Instrument, Lender may give Borrower a notice identifya -4.13e r lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or takeene or more of the actions set forth above in this Section 4. D _ Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance Shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certification and tracking services; or (b) a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest . at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. i In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law 1010552261 Initials.tt -6A(IA)(oaosyo1 vines of 15 �� Form 3016 1101 ® ll • • f=3 requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Bor9'w�5 r�ant' interest or earnings on such proceeds. Fees for public adjusters, or other third parties, ret�trled byte Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borwvr. If ` the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance,p proceeds shall be applied to the sums secured by this Security Instrument, whether or not then c(ja�e�`-)with j the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided H8r in Section 2. tv If Borrower abandons the Property, Lender may file, negotiate and settle any available inaarance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender4fiat the . insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender (a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b) any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument, whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7_ Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is • determined pursuant to Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shall be in default if, during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or/with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b)there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or 1010552261 Inttia Is: 1� -6A(1A)toaost.or P.ee r of 15 Form 3016 1/01 • regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is`; reasonable or appropriate to protect Lender's interest in the Property and rights under thiCSecurity.3 Instrument, including protecting and/or assessing the value of the Property, and securing and/orSeplirin the Property. Lender's actions can include, but are not limited to: (a) paying any sums securedb54 lier li which has priority over this Security Instrument; (b) appearing in court; and (c) paying rigsonabl� �-.. attorneys' fees to protect its interest in the Property and/or rights under this Security Instrument,ii}alyding.o i its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, •71 entering the Property to make repairs, change locks, replace or board up doors and windows, drar 'ater i from pipes, eliminate building or other code violations or dangerous conditions, and have utilitiernedN on or off. Although Lender may take action under this Section 9, Lender does not have to do so r not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking airy or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower ' secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the ' lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. If, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party (or parties) to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). ' As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in • exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement 1010552261 Initials I-6A(1A)(oaos).oi Pape B or 15 Form 3016 1/01 IV LM • • O provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a rn shams P the-0 premiums paid to the insurer, the arrangement is often termed "captive reinsurance." Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to-pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase theunt N.) Borrower will owe for Mortgage Insurance, and they will not entitle Borrower to any refund. 7' (b) Any such agreements will not affect the rights Borrower has - if any - with respects o the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds_ If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a) the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b) the fair market value of the Property immediately before the partial taking, destruction,or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums • secured by this Security Instrument whether or not the sums are then due_ If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party"means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of 1010552261 In{lia Is:15/K".- GA(IA)(ao5).oi Pie s of is Form 3016 1101 �` ' �- . any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in . writing. The covenants and agreements of this Security instrument shall bind (except as provided in Section 20)and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges,and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit;and(b)any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. i 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower chat' promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in 1010552261 Initials el-- it ;)-6A(IA)10405).01 Pee 10 of 15 Form 3046 110 4P\ r n1 O 7 O connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title-by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. • If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of: (a) five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's right to reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those 3 conditions are that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c)pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinsthtement sums and expenses in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or(d) Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration bad occurred. However, this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to 10102261 : lotto's: 7 -6Al1A)(oaos).or via 11 or 15 Form 3016:-.1/ F.; ' D o IlliTrower. A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence,join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b) "Environmental Law"means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or removal action, as defined in Environmental Law; and (d)an "Environmental Condition" means a condition that can cause, contribute to, or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a) that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or(c)which, due to the presence,use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property(including,but not limited to,hazardous substances in consumer products). Borrower shall promptly give Lender written notice of(a) any investigation, claim!demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including but not limited to,any spilling, leaking,discharge,release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation oft Lender for an Environmental Cleanup. 0 101 175'),261!` �'"• Initials , (�--"" -6A(IA)ioaostot P e t2 of 15 Form 3014 0:1101 n rn '1"-{1\ tV � O Vt NON-UNIFORM COVENANTS_ Borrower and Lender further covenant and agree as follows: 22. Acceleration;Remedies_ Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b)the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument,foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration • and foreclosure. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22, including, but not limited to, reasonable attorneys' fees and costs of title evidence. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower relinquishes all right of dower and waives all right of homestead and distributive share in and to the Property. Borrower waives any right of exemption as to the Property. 25. HOMESTEAD EXEMPTION WAIVER I UNDERSTAND THAT HOMESTEAD PROPERTY IS IN MANY CASES PROTECTED FROM THE CLAIMS OF CREDITORS AND EXEMPT FROM JUDICIAL SALE; AND THAT BY SIGNING THIS MORTGAGE, I VOLUNTARILY GIVE UP MY RIGHT TO THIS PROTECTION FOR THIS MORTGAGED PROPERTY WITH RESPECT TO CLAIMS BASED UPON THIS MORTGAGE. (D/g-54/4'// .w . Brad Allen Date wcr �� � `�, Date / lxf` 1 Borrower Date Borrower Date Borrower Date Borrower Date Borrower Date Borrower Date O 1015:F.26l`� ®-6A(1A)(oau5ot Nye 13 or 15 Form 3016. 1101.43trn o v1 26. Redemption Period. If the Property is less than 10 acres in size and Lender waives in any foreclosure proceeding any right to a deficiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to 6 months. If the court finds that the Property has been abandoned by Borrower and Lender waives any right to a deficiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to 60 days. The provisions of this Section 26 shall be construed to conform to the provisions of Sections 628.26 and 628.27 of the Code of Iowa. IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE.NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses1 �3A..�fill I (Seal) "��J siOAllen -Borrower � Alt 1 , <� �' U cam- / / 11_ . ' U (Seal) t . iL,1 1 1(c pa Llz,r) -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower (Seal) (Seal) -Borrower -Borrower N o rn cel Q Go 1010161 3 IV • 1-6A(1A)(0405).01 Pape 14 of 15 Form 3011C /01 O • • a STATE OF IOWA, vi County ss: On this a- day of 1.1t� 1 � tiNp , before me, a Notary Public in the State of Iowa, personally appeared j ftu d coq 1 I a -� cua u4e,_ to toe personally known t. se person(s) named in and yy' executed the foregoing instrument, and acknowledged that he/she/hey •xecuted the same as his/her/0- oluntary act and deed. My Commission Expires: 31-01 • ,1 cookAA,_ • N. -. .c in and for said County and State LISA CLARK (AOptptgdst Seat�IOWA mwr Comtntaston No.727158 • yMy Commission Expires 2-27-2rI22 _ riJ C) [ 0_L !� -<r' f O 73 o 1010552261 Initials: -6A(IA)(O4O5).O1 PaRe 15 or 15 Form 3016 1/01 4r/+- Legal Description Lots One (i) and Two (2) Block Seven (7) , Morningside Addition, Iowa City, Iowa. Situated in Johnson County, Iowa. O rn n -C r -v 0- - �T. ry D o • vi ) 3 • O co C7 D-j -mac _►n Sal MIN: 10048891010S *18 3 ADJUSTABLE RATE RIDER o (LIBOR Six-Month Index (As Published In The Wall Street Journal)-Rate Caps) THIS ADJUSTABLE RATE RDER is made this 25th day of October, 2006 > , 0.1 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the "Security Instrument") of the same date given by the undersigned ("Borrower") to secure Borrower's Adjustable Rate Note (the "Note") to New Century Mortgage Corporation ("Lender") of the same date and covering the property described in the Security Instrument and located at: 122 5 7T13 AVE, Iowa City, IA 52245 [Property Address] THE NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN THE INTEREST RATE AND THE MONTHLY PAYMENT. THE NOTE UMITS THE AMOUNT BORROWER'S INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE BCRROlti(ER MUST PAY. ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. INTERESTRATE AND MONTHLY PAYMENT CHANGES The Note provides for an initial interest rate of 9.950 %. The Note provides for changes in the interest rate and the monthly payments, as follows: 4. INTEREST RATE AND MONTHLY PAYMENT CHANGES (A) Change Dates The interest rate I will pay may change on the first day of November, 2009 and on that day every 6th month thereafter. Each date on which my interest rate could change is called a "Change Date." (B)The Index Beginning wit h the first Change Date, my interest rate will be based on an Index. The "Index" is the average of interbank offered rates for six month U.S. dollar-denominated deposits in the London market ("UBOR"), as published in The Wall Street Journal. The most recent Index figure available as of the first business day of the month immediately preceding the month in whic h the Change Date occurs is called the "Current Index." i If the Index is no longer available, the Note Holder will choose a new index that is based upon comparable information. The Note Holder will give me notice of this choice. • (C) Calculation of Changes Before each Change Date, the Note Holder will calculate my new interest rate by adding Six And Fifty-five Sundredth(s) percentage points ( 6.550 %) to the Current Index. The Note Holder will then round the result of 1010552261 MULTISTATE ADJUSTABLE RATE RIDER - UBOR SIX-MONTH INDEX (AS PUBLISHED IN THE WALL STREETJOURNAL)- Single Family- Fannie Mae Uniform Instrument ©-83 8R (040 2) Form 3138 1/01 Page 1 of 3 Initials: Lik VMP Mortgage Solutions, Inc (800)521 -7291 rpt O Fa n n _ n • this addition to the nearest one-eighth of one percentage point (0.12 5%). Subject to t tWitt s tv stated in Section 4(D) below, this rounded amount will be my new interest rate until II* xt Change Date. o The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid principal that I am expected to owe at the Change Date in full on the Maturity Date at my new interest rate in substantially equal payments. The result of this calculation wil I be the new amount of my mont hly payment. (D) Limits on Interest Rate Changes The interest rate I am required to pay at the first Change Date will not be greater than 11.950 % or less than 9.950 %. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than one And One-half percentage points ( 1.500 %) from the rate of interest I have been paying for the preceding 6 months. My interest rate will never be greater than 16.950 %. (E)Effective Date of Changes My new interest rate will become effective on each Change Date. I will pay the amount of my new monthly payment beginning on the first monthly payment date after the Change Date until the amount of my monthly payment changes again. (F) Notice of Changes • The Note Holder will deliver or mail to me a notice of any changes in my interest rate and the amount of my monthly payment before the effective date of any change. The notice will • include information required by law to be given to me and also the title and telephone number of a person who will a nswer any question I may have regarding the notice. B. TRANSFER CF THE PROPERTY OR A BENEFCIAI_INTEREST N BORROWER Uniform Covenant 18 of the Security Instrument is amended to read as follows: Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. Lender also shall not exercise this option if: (a) Borrower causes to be submitted to Lender information required by Lender to evaluate the intended transferee as if a new loan were being made to the transferee; and (b) Lender • reasonably determines that Lender's security will not be impaired by the loan assumption and that the risk of a breach of any covenant or agreement in this Security Instrument is acceptable to Lender. To the extent permitted by Applicable Law, Lender may charge a reasonable fee as a condition to Lender's consent to the loan assumption. Lender also may require the transferee to sign an assumption agreement that is acceptable to Lender and that obligates the transferee to keep all the promises and agreements made in the Note and in this Security Instrument. Borrower will continue to be obligated under the Note and this Security Instrument unless Lender releases Borrower in writing. 1010552261 Initials: Iti -83 8R (040 2) Page 2 of 3 � Form 3138 1/01 P : w a r r--) • O do <n „_t -< .�- . li -40 ,o rri -gym Li If Lender exercises the option to require immediate payment in full, Lenders IA give Borrower notice of acceleration. The notice shall provide a period of not IsT N than 30 days from the date the notice is given in accordance with Section 15 with o which Borrower must pay all sums secured by this Security Instrument. tf Borrowir r J+ fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument wit hout further notice or demand on Borrower. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider. / (Seal) _ w( `^-' " (Seal) B d len -Borrower "T ,v� F t t �, -Borrowe r (Seal) (Seal) -Borrowe r -Borrower (Seal) (Seal) -Borrowe r -Borrowe r (Seal) (Seal) -Borrowe r -Borrower • 1010552261 • t)-83 8R(040 2) Page 3 of 3 Form 3138 1101 11 • . a ' Y & MIN: 100488910105522618 ADJUSTABLE RATE RIDER ADDENDUM (Libor Index-Rate Caps) This Adjustable Rate Rider Addendum is mark this 25th day of October 2006 and is incorporated into and shall be deemed to amend and supplement the Promissory Note(the"Note")and Mortgage, Deed of Trust or Security Deed (the "Security Instrument") and Adjustable Rate Rider (the "Rider") of the same date given by the undersigned (the "Borrower")to secure repayment of Borrower's Note to (the"Lender"). New Century Mortgage Corporation Property securing repayment of the Note is described in the Security Instrument and located at 122 S 7TH AVE,Iowa City,IA 52245 (Property Address) To the extent that the provisions of this Adjustable Rate Rider Addendum are inconsistent with the provisions of the Note and/or Security Instrument and/or Rider, the provisions of this Addendum shall prevail over and supersede any such inconsistent provisions of the Note and/or Security Instrument and/or Rider. In addition to the covenants and agreements made in the Note,Security Instrument,and Rider,Borrower and Lender further covenant and agree as follows: 4. (D)LIMITS ON INTEREST RATE CHANGES The interest rate I am required to pay at the first change date will not be greater than 11.950% or less than 9.950%. Thereafter, my interest rate will never be increased or decreased on any single Change Date by more than One And One-haff percentage point(s)( 1.5013%)from the rate of interest I have been paying for the preceding 6 months. My interest rate will never be greater than 16.950%or less than 9.950%. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable Rate Rider Addendum. • -.APP);"-- _ 1-0,Y6Lam, 0 --1 C) rn 5 73 CD NICMC 1010552261 • Adjustable Rate Ride Addendum RE-102 (082296) Page 1 of 1 END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE•PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540•(319)356-6030 PLAINTIFF: NATIONAL CITY REAL ESTATE SEI Docket No 08-03549 J State IOWA vs. Court No EQCV069423 County JOHNSON DEFENDANT: LEHNERT, SCOTT EDWARD Ref No Received 06/16/2008 DEFENDANT: LEHNERT, DAWN M DEFENDANT: UNIVERSITY OF IOWA COMMUNIT DEFENDANT: CITY OF CORALVILLE DEFENDANT: CITY OF IOWA CITY DEFENDANT: CITY OF NORTH LIBERTY DEFENDANT: PARTIES IN POSSESSION Requestor(s) Phone LAUGHLIN,MATTHEW E (515)288-2500 Name 1CITY OF IOWA CITY Party Type DEFENDANT Address 410 E WASHINGTON ST IOWA CITY IA 52240- Phone (319)356-5030 E-Mail Fax Employer 1 Zone Comments L_ Documents Document Serve by Date OE PSR Description/Special Instructions ORIGINAL NOTICE AND ❑ [I ;PETITION Service Information Attempts Log Date Time Server Notes Date 1 - Y U Time / S 3 0 Type CH1- X 6 o v I- Party MAP-TA— !`- )ha1Pi Relationship C t ( C I Q✓IC_ Race 0 Sex F DOB Location q/J EA 5 t:( ,17)6, &)C f-c--- -17:-`14'4 C-! y Miles �� Fee J `"J Officer Notes: O n C- D i -n • -C r —1 n 0% pTl =Gr oM 0 w D w Printed:Monday, June 16, 2008 Page 1 of 1 ., . IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY NATIONAL CITY REAL ESTATE SERVICES, ) EQUITY NO. .Q Q v D(V 94 c3 LLC SUCCESSOR BY MERGER TO ) NATIONAL CITY MORTGAGE,INC. F/K/A ) NATIONAL CITY MORTGAGE CO., ` ) ) Plaintiff, ) ORIGINAL NOTICE ) _ N vs. ) O n SCOTT E. LEHNERT,DAWN M. LEHNERT, ) >`i 11 UNIVERSITY OF IOWA COMMUNITY ) _n 0 _'` CREDIT UNION A/K/A U OF I COMMUNITY r" Firl CREDIT UNION,CITY OF CORALVILLE, ) O m -00 CITY OF IOWA CITY, CITY OF NORTH ) *?c w LIBERTY and PARTIES IN POSSESSION, ) D w Defendants. ) TO THE ABOVE-NAMED DEFENDANT: City of Iowa City You are notified there was on the 2 3 day of ,./V(/GL , 2008 filed in the office of the Clerk of the above-named Court, a Petition, copies of which ar4ttached hereto. The Plaintiff's attorney is Matthew E. Laughlin,whose address is The Financial Center, 666 Walnut Street, Suite 2500,Des Moines,Iowa 50309-3993,Phone: (515)288-2500, Facsimile: (515) 243-0654. You must,within 20 days after service of this Original Notice upon you, serve,and within a reasonable time thereafter, file a motion or answer,in the Iowa District Court for Johnson County, at the county courthouse in Iowa City, Iowa. If you do not,judgment by default may be rendered against you for the relief demanded in the petition. If you require the assistance of auxiliary aids or services to participate in court because of a diaility,immediately call your district ADA coordinator at 319-398- 3920,ext. you are hearing impaired,call Relay Iowa TTY at 1-800-735-2942.) Y, DEMA BE l LL (LEY Cl of the above Court Cl Johnson County Courthouse Iowa City,Iowa IMPORTANT YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS. c.C.. : red cQ #577658 a AN-/ Ceve✓' /-te.€24 pit y ♦' IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY NATIONAL CITY REAL ESTATE ) EQUITY NO. ., v O ciq3 SERVICES, LLC SUCCESSOR BY ) MERGER TO NATIONAL CITY ) MORTGAGE, INC. F/K/A NATIONAL CITY0 co MORTGAGE CO., ) n c -n ) FORECLOSURE PETITION 0_ _ — Plaintiff, ) 7-10 o- • ) rn rn vs. O 7J •- w SCOTT E. LEHNERT, DAWN M. ) D `' LEHNERT, UNIVERSITY OF IOWA ) COMMUNITY CREDIT UNION A/K/A U ) f OF I COMMUNITY CREDIT UNION, CITY ) x OF CORALVILLE, CITY OF IOWA CITY, ) �oc,� -'` -r, CITY OF NORTH LIBERTY and PARTIES ) -zg w cri IN POSSESSION, ) o s Defendants. ) 4 `•D 29.4 rn NOTICE THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION. THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE COURT A WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND, THE SALE WILL BE DELAYED UNTIL SIX MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS YOUR RESIDENCE BUT NOT A ONE-FAMILY OR TWO- FAMILY DWELLING. YOU WILL HAVE NO RIGHT OF REDEMPTION AFTER THE SALE. THE PURCHASER AT THE SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY PURCHASE AT THE SALE. #577658 • J / 0 �� MES NOW the Plaintiff, National City Real Estate Services, LLC succi it bf.. j to National City Mortgage, Inc. f/kCo., and res National City Mortgage c-) o- til p�gullyAates° ,ie Court the following as its cause of action against the Defendants: 0, "� 1. The Plaintiff, National City Real Estate Services, LLC successor by merger to /National City Mortgage, Inc. f/k/a National City Mortgage Co., elects to foreclose without i' redemption pursuant to Iowa Code Section 654.20. The mortgaged property which is the sub' sect of this action is not used for an agricultural purpose. The mortgaged property is a one-family or two-family dwelling. 2. The Plaintiff, National City Real Estate Services, LLC successor by merger to National City Mortgage, Inc. f/k/a National City Mortgage Co., is a corporation duly authorized zed to transact business in the State of Iowa. 3. The Defendants, Scott E. Lehnert and Dawn M. Lehnert, are a married couple and are residents of Johnson County, Iowa. p 4. The Defendant, University of Iowa Community Credit Union a/k/a U of I Community Credit Union, is joined as a party to this action because it may claim some right, title or interest in the property which is the subject of this action including but not limited to by of one certain mortgage filed May 10, 2005 in Book 3874, Page 282 of the Johnson Countyvirtue Recorder's Office. The Defendant's rights to the property which is the subject of this action are junior to the Plaintiff. 5. The Defendant, City of Coralville, is joined as a party to this action because it may claim some right, title or interest in the property which is the subject of this action including but not limited to by virtue ofjudgments gments entered April 18, 2006 in 06521 COSTCV035161 and . 2 August 24, 2007 in 06521 COSTCV039894 of the Iowa District Court in and for Johnson County. The Defendant's rights to the property which is the subject of this action are junior to the Plaintiff. o 6. The Defendant, City of Iowa City, is joined as a party to this action bene it= o, may claim some right, title or interest in the property which is the subject of this action'�a'ncludii m 3 73 but not limited to by virtue of one certain judgment entered June 12, 2006 in 06521 57C `•••� q ICSTIC171635 of the Iowa District Court in and for Johnson County. The Defendant's rights to the property which is the subject of this action are junior to the Plaintiff. 7. The Defendant, City of North Liberty, is joined as a party to this action because it may claim some right, title or interest in the property which is the subject of this action including but not limited to by virtue of one certain judgment entered October 23, 2006 in 06521 NLSTNL002876 of the Iowa District Court in and for Johnson County. The Defendant's rights to the property which is the subject of this action are junior to the Plaintiff. 8. The Defendants, Parties in Possession, are made parties to this cause of action because they may claim some right, title or interest in the property which is the subject of this action due to the fact that the Plaintiff is credibly informed and believes that they may be tenants in possession of the property the subject of this cause of action. The Defendants' rights to the property which is the subject of this action are junior to the Plaintiff. 9. On or about November 4, 2004, the Defendant, Dawn M. Lehnert, executed and delivered to Liberty Bank F.S.B., one certain Promissory Note in the principal sum of One Hundred Sixty-two Thousand and 00/100 Dollars ($162,000.00). A copy of the Note is attached hereto as Exhibit "A" and by this reference incorporated herein. 3 10. To secure payment of the Note, the Defendants, Dawn M. Lehnert and Scott E. Lehnert, executed and delivered to Liberty Bank F.S.B. one certain Purchase Money Mortgage dated November 4, 2004, which Mortgage was filed on November 5, 2004, in Book 3812, Page 762 of the Johnson County Recorder's Office, upon the following-described real estate, to-wit: Unit 35B, according to the survey thereof recorded in Book 35, Page 2, Plat Records of Johnson County, Iowa. Said Unit 35B is the southerly portion of Lot 35, Heritage Estate - Plat Four, Coralville, Iowa, according to the plat thereof recorded in Book 34, Page 135, Plat Records of Johnson County, Iowa. 11. A copy of the Purchase Money Mortgage together with the Recorder's Certificate thereon is attached hereto as Exhibit "B" and by this reference incorporated herein. 12. On or about November 4, 2004, Liberty Bank F.S.B. sold, assigned and delivered to National City Mortgage Co. the Note and Mortgage referred to herein as Exhibits "A" and O w "B". Said Assignment was in writing and recorded on November 5, 2004 in Book 38 pPa -n 775, records of Johnson County. o °- m -? 13. The Mortgage and Note is a Purchase Money Mortgage and provides �I;1.4' n cafe of default the holder may declare the entire principal and the interest accrued thereon due and-- payable and the Mortgage may be foreclosed. 14. The Defendants, Dawn M. Lehnert and Scott E. Lehnert, have failed to pay the Note and interest thereon as provided by the terms of the Note. 15. By reason of the failure to pay the Note and interest, the Plaintiff has elected and does hereby elect in accordance with the terms and conditions of the Note and Mortgage to declare the whole of the Note due and payable forthwith and to exercise its right to enforce payment of the entire Note as provided by the Note and to foreclose the Mortgage given to secure the same. 4 16. The unpaid balance due on the Note after allowing all credits due to the Defendants is the sum of One Hundred Fifty-six Thousand Seventy-four and 67/100 Dollars ($156,074.67), which is the principal balance, plus interest calculated at the default rate of 7.75% per annum from December 1, 2007. Interest accrues on the said sum at the rate of$33.14 per day. 17. In order to commence this foreclosure proceeding the Plaintiff has expended title costs of$200.00, escrow advances, corporate advances and late charges of$610.23, to all of which sums the Plaintiff is entitled to a judgment against the property with interest at the rate of 7.75% per annum, costs and accruing costs including but not limited to any and all advances made by the Plaintiff for taxes, insurance,property preservation and other costs between the time of the Foreclosure Decree and the time of Sheriff's Sale, including reasonable attorney's fees. 18. The Plaintiff is the owner and holder of the Note and Mortgage, due demand has been made for payment, and payment has been refused. O c_ 19. Under the terms of the Mortgage a receiver may be appointed. n: z 20. The Plaintiff gave a Notice of Right to Cure and more than thirty(30) s have f"' s'ii elapsed since the notice was given. w D w 21. The Plaintiff hereby waives their right to a deficiency judgment. 22. Under the terms of said Note and Mortgage, the Defendants,Dawn M. Lehnert and Scott E. Lehnert, agreed to pay attorney's fees and all costs in connection with the proceeding to enforce or foreclose the Mortgage. Attached hereto as Exhibit"C" and incorporated herein by this reference is an Affidavit of Attorney's Fees as required by Iowa Code § 625.22. 5 • WHEREFORE, the Plaintiff,National City Real Estate Services, LLC successor by merger to National City Mortgage, Inc. f/k/a National City Mortgage Co., prays for judgment in rem against the real estate described above, for the sum of One Hundred Fifty-six Thousand Seventy-four and 67/100 Dollars ($156,074.67), which is the principal balance, plus interest thereon at the rate of 7.75%per annum from December 1, 2007, such amount equaling $33.14 per day, the costs of this action, including title costs of$200.00, escrow advances, corporate advances, late charges of$610.23, reasonable attorney's fees and additional sums for continuing the abstract of title or other purposes authorized by said Note and Mortgage and by Iowa law and that said sums be declared a lien upon the premises above described from November 4, 2004, the date of the Plaintiff's Mortgage, prior and superior to any right, title, lien or interest of the Defendants or any of them therein; that the Plaintiff's Mortgage be foreclosed; that sitfighr z Tl title, lien or interest of the Defendants or any of them in said property be declared jujdc and— :1 0 nd--+0 °' r inferior to the lien of Plaintiff's Mortgage; that a special execution issue for the sale bf e 0 0-u mortgaged premises or so much thereof as may be necessary to satisfy the judgment vicludin, interest, costs, and accruing costs including but not limited to any and all advances made by the Plaintiff for taxes, insurance,property preservation and other costs between the time of the Foreclosure Decree and the time of Sheriff's Sale, and that from and after said sale under special execution, the right, title, lien or interest of the Defendants in and to the mortgaged premises be forever cut off,barred and foreclosed, and the purchaser at said sale take free and clear of any right, title, lien or interest of the Defendants or any of them. The Plaintiff further prays for a Writ of Possession to be issued under the seal of this Court, directed to the Sheriff of Johnson County, Iowa, commanding him to put the purchaser at 6 • said sale under special execution or a successor in interest in the possession of the premises; and that a receiver be appointed to take charge of the mortgaged premises during the period of foreclosure for the purpose of preserving the mortgaged premises for the benefit of all concerned. The Plaintiff further prays for such other and further reli ' a3 the Court may deem just 111 and equitable under the circumstances. I. Mat,Weal! lin (AT0004515) Th; Fin: ci.' ter 666 Walnut Street, Suite 2500 Des Moines, Iowa 50309-3993 Telephone: (515) 288-2500 Facsimile: (515) 243-0654 ATTORNEY FOR THE PLAINTIFF OF COUNSEL: DAVIS, BROWN, KOEHN, SHORS &ROBERTS, P.C. The Financial Center — e 666 Walnut Street, Suite 2500 n Des Moines, Iowa 50309-3993 >—+ 71 Telephone: (515) 288-2500 n-< o, m -v til 0 —0x w D w 7 • J 41111 Lehnart 12/01/2034 Dawn NOTE Loan No: 0003694503 CMW (MULTISTATE FIXED RATE) ea —3 O oat =T y � o November 4,2004 Coralville Iowa -'C rn' (Date) {Coy) (Slate) 1413 Kenai Courtt c3, 07' Coralville,iA 5224,1 p N [Property Address) .• 1. BORROWER'S PROMISE TO PAY • In return for a loan that I have received, 1 promise to pay U.S. $162,000.00 (this amount is called "Principal"),plus interest,to the order of Lender. Lender is LIBERTY BANK F.S.B.,a CORPORATION I will make all payments under this Note in the form of cash,check or money order. 1 understand that Lender may transfer this Note. Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the"Note Holder." 2. INTEREST Interest will be charged on unpaid principal until the full amount of Principal has been paid. I will pay interest at • a yearly rate of 7.750 %. The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section 6(B)of this Note. 3. PAYMENTS (A) Time and Place of Payments 1 will pay principal and interest by making a payment every month. 1 will make my monthly payment on the 1st day of each month beginning on January 1,2005 I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If, on December 1,2034 , I still owe amounts under this Note,I will pay those amounts in full on that date,which is called the"Maturity Date." I will make my monthly payments at 13523 University Ave. Clive,IA 50325 or at a different place if required by the Note Holder. • (B) Amount of Monthly Payments My monthly payment will be in the amount of U.S. $1,160.59 4. BORROWER'S RIGHT TO PREPAY I have the right to make payments of Principal at any time before they are due. A payment of Principal only is known as a "Prepayment." When I make a Prepayment, I will tell the Note Holder in writing that I am doing so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note. I may make a full Prepayment or partial Prepayments without paying a Prepayment charge. The Note Holder will use my.Prepayments to reduce the amount of Principal that I owe under this Note. However, the Note Holder may apply my Prepayment to the accrued and unpaid interest on the Prepayment amount, before applying my Prepayment to reduce the Principal amount of the Note. If I make a partial Prepayment, there will be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. 5. LOAN CHARGES If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (a) MULTISTATE FIXED RATE NOTE -Single Family - FNMA/FHLMC Uniform Instrument Form 3200 1/01 Laser Forms Inc.0001445-3555 LFI#FNMA3200 1101 Page 1 of 3 Initials: EXHIBIT 3 • S S any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from me which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a direct payment to me, If a refund reduces Principal,the reduction will be treated as a partial Prepayment. 6. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late Charge for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of 15 calender days after the date it is due,I will pay a late charge to the Note Holder. The amount of the charge will be 5.000 % • of my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment. (B) Default If I do not pay the full amount of each monthly payment on the date it is due, I will be in default. (C)Notice of Default If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me'to pay immediately the full amount of Principal that has not been paid and all the interest that I owe on that amount. That date must be at least 30 days after the date on which the notice is mailed to me or delivered by other means. (I)) No Waiver By Note Holder Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above,the Note Holder will still have the right to do so if I am in default at a later time. (E) Payment of Nate Holder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be paid back by me for all its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include,for example,reasonable attorneys'fees. 7. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given to me under this Note will be • given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that different address. 8. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 9. WAIVERS I and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor. "Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of Dishonor" means the right to require the Note Holder to give notice to other persons that amounts due have not been paid. 10.UNIFORM SECURED NOTE • This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust, or Security Deed (the "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses that might result if I do not keep the promises that I make in this Note. That Security Instrument describes how and under what conditions I may he required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are r� described as follows: O ea > _.I oz MULTISTATE FIXED RATE NOTE-Single Family-FNMA/FHLMC Uniform Instrument Form 32001/01 H C) O. Y� Laser Forms Mc.(800)446-3555 .<r t 7 I LFI#FNMA3200 1101 Page 2 of 3Initials: O in g LdL/ N .410 If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However,this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 • within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. WITNESS THE HAND(S)AND SEAL(S)OF THE UNDERSIGNED. /�� (Seal) (Seal) a4wn M.Lehnerl -Borrower -Borrower • (Seal) (Seal) -Borrower -Borrower [Sign Original Only) Pay is the order of National City Mortgage Co. • With. t recourse LISRTY BANK F.S.B. By: 00. '\ • + Wade Shriver Market President C7 > �n CO" m o 23w D w ' N MULTISTATE FIXED RATE NOTE-Single Family-FNMAIFHLMC Uniform Instrument Form 3200 1101 Laser Forms Inc.(800)448-3555 LFI aFNNA3200 IAI Page 3 of 3 • c)Zi2 3tc ci�.Sv3 • 11111111111111111111111,1 HJ O•JO1i1INDI 1 Doc ID: 019314740013 Tvoe: OEN Recorded; 11/05/2004 at 10:14:45 AM Fee Amt: $67.00 Pace 1 of 13 Johnson County Iowa Kim Painter County Recorder BK3812 Pa762-774 • Prepared By: Liberty Bank-Jan Czerwonke 13523 University Ave. • Clive,IA 50325 (515)224-3723 AFTER RECORDING RETURN TO: Liberty Bank FSB-Jan Czerwonke 13523 University Ave. Clive,IA 50325 Loan No: 0003694503 CMW [SpaceAbov This Llnrr For Raoordlnp Data) MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words arc defined in Sections 3, 11, 13, 18, 20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated November 4,2004 together with all Riders to this document. (B) "Borrower"is Dawn M.Lehnert and Scott E.Lehnert,Wife and Husband Borrower is the mortgagor under this Security Instrument. ' (C) "Lender"is LIBERTY BANK F.S.B. *2 Lender is a CORPORATION —I C) —•11 r-wer". organized and existing under the laws of UNITED STATES OF AMERICA Lender's address is 13523 University Ave. -gym 0 Clive,IA 50325 3,3 Lender is the mortgagee under this Security Instrument. 1+1� j (D) "Note"means the promissory note signed by Borrower and dated November 4,2004D W The Note states that Borrower owes Lender One Hundred Sixty Two Thousand DOLLARS and Zero CENTS Dollars (U.S. $ 152,000,00 ) plus interest. Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than December 1,2034 (E) "Property" means the property that is described below under the heading "Transfer of Rights in the Property." (F) "Loan"means the debt evidenced by the Note, plus interest, any prepayment charges and late charges due under the Note,and all sums due under this Security Instrument,plus interest. IOWA - Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3016 1/01 Leser Forms Inc.(800)446-3555 LFI SFNMA3016 1101 (A) Page 1 of 13 Initials: EXHIBIT • • (C) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The following • Riders are to be executed by Borrower[check box as applicable]: Fl A• djustable Rate Rider n C• ondominium Rider B• alloon Rider n Second Home Rider n n P• lanned Unit Development Rider n 1-4 Family Rider [i B• iweekly Payment Rider E V.A.Rider O• ther(s)[specify] • (H) "Applicable Law" means all controlling applicable federal, state and local statutes, regulations, ordinances and administrative rules and orders (that have the effect of law) as well as all applicable final, non-appealable judicial opinions. (I) "Community Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that are imposed on Borrower or the Property by a condominium association, homeowners association or similar organization. (J) "Electronic Funds Transfer" means any transfer of funds, other than a transaction originated by check, draft, or similar paper instrument, which is initiated through an electronic terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize a financial institution to debit or credit an • account. Such term includes, but is•not limited to, point-of-sale transfers, automated teller machine transactions,transfers initiated by telephone,wire transfers,and automated clearinghouse transfers. (K) "Escrow Items"means those items that are described in Section 3. (L) "Miscellaneous Proceeds" means any compensation, settlement, award of damages, or proceeds paid by any third party (other than insurance proceeds paid under the coverages described in Section 5) for: (i)damage to, or destruction of, the Property; (ii) condemnation or other taking of all or any part of the Property; (iii) conveyance in lieu of condemnation; or (iv) misrepresentations of, or omissions as to, the value and/or condition of the Property. (M) "Mortgage Insurance" means insurance protecting Lender against the nonpayment of, or default on, the Loan. (N) "Periodic Payment" means the regularly scheduled amount due for (i) principal and interest under the Note,plus(ii)any amounts under Section 3 of this Security Instrument. (0) "RESPA" means the Real Estate Settlement Procedures Act (12 U.S.C. §2601 et seq.) and its implementing regulation, Regulation X (24 C.F.R. Part 3500), as they might be amended from time to time, • or•any additional or successor legislation or regulation that governs the same subject matter. As used in this Security Instrument, "RESPA" refers to all requirements and restrictions that are imposed in regard to a "federally related mortgage loan" even if the Loan does not qualify as a "federally related mortgage loan" under RESPA. • (P) "Successor in Interest of Borrower"means any party that has taken title to the Property, whether or not that party has assumed Borrower's obligations under the Note and/or this Security Instrument. O t7 0 k -n r- 0�o . ox) IOWA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3016 1/01 Laser Forms Inc.(800)446-3555 � N LFIHFNMA3016 1101 Page 2 of 13 Initials: TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note; and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably mortgages, grants and conveys to Lender,with power of sale,the following described property located in the COUNTY of Johnson • (Typo of Recording Jurisdiction) !Name of Recording Jurisdiction) Unit 35B,according to the survey thereof recorded in Book 35, Page 2,Plat Records of Johnson County, Iowa.Said Unit 35B is the southerly portion of Lot 35,Heritage Estates-Part Four,Coralville,Iowa, according to the plat thereof recorded in Book 34,Page 135,Plat Records of Johnson County, Iowa. which currently has the address of 1413 Kenai Court [Street! Coralville ,Iowa 5224] ("Property Address"): [City) gip code)6 TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. O IOWA •Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT _n"< • Form 3016 1101 —I0 01. 1 - Laser Forms Inc.18001 446-3555 /,. r r LFI#FNMA3o16 trot Page 3 of 13 Initials: . m g xm • / D J Illy • • • • I , UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1, Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms, as selected by Lender: (a) cash; (b) money order; (c) certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality, or entity;or(d)Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current. Lender may accept any payment or partial payment insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future, but Lender is not obligated to apply such payments at the time such payments are accepted. If each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current. If Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under • • the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2, all payments . accepted and applied by Lender shall be applied in the following order of priority: under Note; (b) principal due under the Note; (c) amounts due under Section 3. Such paymaents shall beeappliiedthe to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges, second to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes.a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent that, each payment can be paid in ful;. To the extent that any excess exists after the paymenteI ic Payments, such excess may be applied to anatechargesldue,to Voluntary prepayments shall be appliednt of one or first to any prepayment charges and then as described in the Note. rY p p y Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the I Note shall not extend or postpone the due date,or change the amount,of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid in full, a sum (the "Funds") to provide for payment of amounts due for: (a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or ground rents on the Property, if any; (c) premiums for any and all insurance required by Lender under Section 5; and (d) Mortgage Insurance premiums, if any, or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10. These items are called "Escrow Items." At origination or at any time during the term of the Loan, Lender may require that Community Association Dues, Fees, and Assessments, if any, be escrowed by Borrower, and such dues, fees and assessments shall be an Escrow Item. • Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any all B Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver, Borr e shall pay directly, when and where any o0 payable, the amounts due for Escrow Items for which payme C Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evidencing�icirl a71 payment within such time period as Lender may require. Borrower's obligation to make such payments aia t1g WNW IOWA -Single Family •Fannie Mae/Freddie Mac UNIFORM INSTRUMENT -{n to Form 3016.1/01 1 Laser Fams Inc.(600)446-3555 0 v i LFI#FNMA3016 1101 Page 4 of 13 Initials: L/ D w • provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument, as the phrase "covenant and agreement" is used in Section 9. If Borrower is obligated to pay Escrow Items directly, pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow item, Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow • Items at any time by a notice given in accordance with Section 15 and, upon such revocation, Borrower shall pay to Lender all Funds,and in such amounts,that are then required under this Section 3. Lender may, at any time, collect and hold Funds in an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a lender can require under RESPA. Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is an institution whose deposits are so insured) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA. Lender shall not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow. Items, unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender can agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without charge, an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow, as defined under RESPA, Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA, but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow, as defined under RESPA, Lender shall notify Borrower as required by RESPA, and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA,but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. • 4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, fines, and impositions attributable to the Property which can attain priority over this Security Instrument, leasehold payments or ground rents on the Property, if any, and Community Association Dues, Fees, and Assessments, if any. To the extent that these items are Escrow Items,Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower: (a)agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender, but only so long as Borrower is performing such agreement; (b) contests the lien in good faith by, or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending, but only until such proceedings are concluded; or (c) secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain • priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Within 10 days of the date on which that notice is given, Borrower shall satisfy the lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5. Property Insurance. Borrower shalt keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage," and any other hazards including, but not limited to, earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including deductible levels) and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to rr�� disapprove Borrower's choice, which right shall not be exercised unreasonably. Lender may require Borro1Or __ to pay, in connection with this Loan, either: (a) a one-time charge for flood zone determination, certificate and tracking services; or (b) a one-time charge for flood zone determination and certification services C IOWA .Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Z n-{ Form 3016 1/01 ��. Laser Forms Inc.(800)446-3555 -II n a T r LFI IFNMA3016 1/01 Page 5 of 13 Initials: .‹t-. " 1 I 0.—_A2 0 • w > N I • • subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the . Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage, at Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of coverage. Therefore, such coverage shall cover Lender, but might or might not protect Borrower, Borrower's equity in the Property, or the contents of the Property, against any risk, hazard or liability and might provide greater or lesser coverage than was previously in effect. Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed the cost of insurance that Borrower could have obtained. Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest, upon notice from Lender to Borrower requesting payment. All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies, shall include a standard mortgage clause, and shall name Lender as mortgagee and/or as an additional loss payee. Lender shall have the right to hold the policies and renewal certificates. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to, or destruction of, the Property, such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. • In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, any insurance proceeds, whether or not the underlying insurance was required by Lender, shall be applied to restoration or repair of the Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds, Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters, or other third parties, retained by Borrower shall not be • paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is I not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property, Lender may file, negotiate and settle any available insurance claim and related matters. If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim, then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event, or if Lender acquires the Property under Section 22 or otherwise, Borrower hereby assigns to Lender.(a) Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument, and (b)any other of Borrower's rights (other than the right to any refund of unearned premiums paid by Borrower) under all insurance policies l covering the Property, insofar as such rights are applicable to the coverage of the Property. Lender may use • the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,whether or not then due. 6. Occupancy. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Lender otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. 7. Preservation, Maintenance .and Protection of the Property; Inspections. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate or commit waste on the Property. Whether or not Borrower is residing in the Property, Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to IOWA -Single Family -Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Form 3016 1/01 Laser Forms Inc.(800)446-35550 LFIkFNMA3pt6 1101 Page 6 of 13 Initials: D n _ ter_ --I0 O� r m. ox O *� w a w N • Section 5 that repair or restoration is not economically feasible, Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage. If insurance or condemnation proceeds are paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or ' restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8. Borrower's Loan Application. Borrower shalt be in default if, during the Loan application process, I Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading, or inaccurate information or statements to Lender (or failed to provide Lender with material information) in connection with the Loan. Material representations include, but are not limited to, representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument, (b) there is a I legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument, • including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can include, but are not limited to: a )over this Security Instrument; (b).appearing in court; and paying any sums secured by a lien which has priority interest in the Property rty ( ) paying reasonable attorneys' fees to protect its p and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding. Securing the Property includes, but is not limited to, entering the Property to make repairs, change locks, replace or board up doors and windows, drain water from pipes, eliminate building or • other code violations or dangerous conditions, and have utilities turned on or off. Although Lender may take action under this Section 9, Lender does not have to do so and is not under any duty or obligation to do so. It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. • Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument. These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable,with such interest,upon notice from Lender to Borrower requesting payment. 1 If this Security Instrument is on a leasehold, Borrower shall comply with all the provisions of the lease. If Borrower acquires fee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 10. Mortgage Insurance, If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect. lf, for any reason, the Mortgage Insurance coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage . substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available, Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve shall be non-refundable, notwithstanding the fact that the Loan • is ultimately paid in full, and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve. Lender can no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage i Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall IOWA -Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3016 1/01 O Laser Forms Inc.(800)446.3535 ' I ^ LFI SFNA3OI6 1/Ot Page 7 of 13 initials: `♦ D� 11 1 M / rte- 0. m ; 5A3O0 * w a w N . j pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement • between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender (or any entity that purchases the Note) for certain losses it may incur if Borrower does not repay the Loan as agreed.Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements with other parties that share or modify their risk, or reduce losses. These agreements are on terms and conditions that are 'satisfactory to the mortgage insurer and the other party (or parties) to these . agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance ' premiums). As a result of these agreements, Lender, any purchaser of the Note, another insurer, any reinsurer, any other entity, or any affiliate of any of the foregoing, may receive (directly or indirectly) amounts that derive from (or might be characterized as) a portion of Borrower's payments for Mortgage Insurance, in exchange for sharing or modifying the mortgage insurer's risk, or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer,the arrangement is often termed"captive reinsurance."Further: (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance, or any other terms of the Loan. Such agreements will not increase the amount Borrower will owe for Mortgage Insurance,and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has - if any - with respect to the • Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law. These rights may • include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance, to have the Mortgage Insurance terminated automatically, and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11. Assignment of Miscellaneous Proceeds; Forfeiture. All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged, such Miscellaneous Proceeds shall be applied to restoration or repair of the • Property, if the restoration or repair is economically feasible and Lender's security is not lessened. During such repair and restoration period, Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly. Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds, Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds. If the restoration or repair is not economically feasible or Lender's security would be lessened, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking, destruction, or loss in value of the Property, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with the excess, if any,paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value • of the Property immediately before the partial taking, destruction, or loss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: i a the total amount of the sums secured immediately before the partial taking, destruction, or loss in value divided by (b)the fair market value of the Property immediately before the partial taking, destruction, or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking, destruction, or loss in value of the Property in which the fair market value of the Property immediately before the partial taking, destruction, or loss in value is less than the amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this IOWA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3016 1/01 O Laser Forms Inc.(800)446-3555 �`- 1- LF!>IFNM,3016 1/01 Page 8 of 13 Initials: �, / �? • th ..... —<c- 0` :< m t- Om ❑ g w • n w Pik) • • Security Instrument whether or not the sums are then due. l• If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil.or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and I shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any I Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of • Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and • (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in • writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20)and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that I are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted . limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for uncles IOWA -Single Family -Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 0 Form 3016 1/01 n Laser FonInc.(600)4 6-3555 D Forms LFI IfFNMA3016 1/01 Page 9 of 13 Initials: n-‹ 1c7 --1 n til. r :gym HT1 •o� O aw N 1 r • the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might'have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender. if any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed • by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed as a prohibition against agreement by contract. In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender; (b)words in the singular shall mean and include • the plural and vice versa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument, 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "interest in the Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement,the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However,this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this SecurityInstrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower • i shall have the right to have enforcement of this Security Instrument discontinued at anytime earliest of: (a) five days before sale of the Propertypowery of sale ntain prior to the ed in this Instrument; (b) such other period as Applicable Law might specify for the termination of Borrower's rSecurity ghtto • reinstate; or (c) entry of a judgment enforcing this Security Instrument. Those conditions are that Borrower: • (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument; and (d) takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument, and Borrower's obligation to pay the sums secured by this Security Instrument, shall continue unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following Orn -Forms, IOWA -Single Family-Fannie Maelfreddie Mac UNIFORM INSTRUMENT Form 3016 1101 n -11 Laser Forms Inc.(800)446-3555 �,. / D k tEl CFNMA3018 1/01 Page 10 of 13 initials: �-' i 0_< ..... _10 0. r- Ail 01° m al Q o� w W. • • • • as selected by Lender: (a) cash; (b)money order; (c)certified check, bank check, treasurer's check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal agency, instrumentality or entity; or (d).Electronic Funds Transfer. Upon reinstatement by Borrower, this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred. However,this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument) can be sold one or more times without prior notice to Borrower, A sale might result in a change in the entity (known as the "Loan Servicer") that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note, this Security Instrument, and Applicable Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer, the address to which payments should be made and any other information RESPA requires in connection with a notice of . transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note, the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence, join, or be joined to any judicial action (as either an individual litigant or the member of a class) that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of, or any duty owed by reason of, this Security Instrument, until such Borrower or Lender has notified the other party (with such notice given in compliance with the requirements of Section 15) of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action. If Applicable Law provides a time period which must elapse before certain action can be taken, that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 2I. Hazardous Substances. As used in this Section 21: (a) "Hazardous Substances" are those substances defined as toxic or hazardous substances, pollutants, or wastes by Environmental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides,. volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials; (b)"Environmental Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response action, remedial action, or • removal action, as defined in Environmental Law; and (d) an "Environmental Condition" means a condition that can cause,contribute to,or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten to release any Hazardous Substances, on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property (a)that is in violation of any Environmental Law, (b) which creates an Environmental Condition, or (c) which, due to the presence, use, or release of a Hazardous Substance, creates a condition that adversely affects the value of the Property. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property(including,but not limited to,hazardous substances in consumer products). Borrower shall promptly give Lender written notice of(a) any investigation, claim, demand, lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge, (b) any Environmental Condition, including bur not limited to, any spilling, leaking, discharge, release or threat of release of any Hazardous Substance, and (c) any condition caused by the presence, use or release of a Hazardous Substance which adversely affects the value of the Property. If Borrower learns, or is notified by any governmental or regulatory authority, or any private party, that any removal or other remediation of any Hazardous Substance affecting the Property is necessary, Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law. Nothing herein shall create any obligation on Lender for an Environmental Cleanup. IOWA -Single Family - Fannie Mae/Freddie Mac UNIFORM INSTRUMENT LeerFor3011101 6 0 Lases Forms Inc.{600}M6-3555 LFI CFNMA.3010 1101 Page 11 of 13 Initials: D 0 -71 ( OM Q �� 4y I • NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: • 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following • Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the • notice is given to Borrower, by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice, Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by udicia! proceeding. Lender shall be to collect all expenses incurred in pursui g the remedies providedin thiSect on 22, including,ltlbutdnnot limited to,reasonable attorneys' fees and costs of title evidence. 23. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument. Lender may charge Borrower a fee for releasing this Security Instrument, but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24. Waivers. Borrower relinquishes all right of dower and waives all right of homestead and distributive share in and to the Property.Borrower waives any right of exemption as to the Property. • 25. HOMESTEAD EXEMPTION WAIVER. I UNDERSTAND THAT HOMESTEAD PROPERTY IS IN MANY CASES PROTECTED FROM THE CLAIMS OF CREDITORS AND EXEMPT FROM JUDICIAL SALE; AND THAT BY SIGNING THIS MORTGAGE, I VOLUNTARILY GIVE UP MY RIGHT TO THIS PROTECTION FOR THIS MORTGAGED PROPERTY WITH RESPECT TO • CLAIMS BASED UPON THIS MORTGAGE. Dawn M.Lehner! Dae] PA/ , / l • Scott M Lehnert t/y/ [Date] 26. Redemption Period. If the Property is less than 10 acres in size and Lender waives in any foreclosure proceeding any right to a deficiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to 6 months. If the court finds that the Property has been abandoned by Borrower and Lender waives any right to a deficiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to 60 days. The provisions of this Section 26 shall be construed to conform to the provisions of Sections 628.26 and 628.27 of the Code of Iowa. IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY . BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. O IOWA -Single Family-Fannie Mae/Freddie Mae UNIFORM INSTRUMENT n Form 3016 1/01 >.,,1 Laser F011113 Inc.(900)446-3555 LFI*FNMA3016 1101 Page 12 of 13 Initials: o —1no' m m 4 0 n e • • BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: .//� t (Seal) lSawnnert -Borrower Scott M L- (Seal) -Borrower (Seal) -Borrower _ (Seal) -Borrower pose*Below Thls Line For Acknowledgment] STATE OF IOWA,COUNTY OF Johnson On this 4th day of November,2004 , before me, a Notary Public in the State of Iowa, personally appeared Dawn M.Lehnert and Scott E.Lehnert,Wife and Husband to me personally known to be the person(s) name(s) in and who exec e. the foregoing i1 ment and • acknowledged that he/she/they executed the same as his/her/their volunt ' �' My Commission expires on: AF4 • /moi 15 e' d State— ,,131:,41,c, tate— �l,4` i�r• '� STEVEN C.ANDERSON L Commission Number 158961 • My Commission Expires a+ December 27,2005 SO IOWA -Single Family •Fannie MaelFreddle Mac UNIFORM INSTRUMENT `0 Form 3016 1101 D T I Laser Forms Inc.(600)446-3555 0 LFI#FNMA3016 1,01 Page 13 of 13 •••••• m m o 0 • a w La • • • S IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY NATIONAL CITY REAL ESTATE ) EQUITY NO. SERVICES, LLC SUCCESSOR BY ) MERGER TO NATIONAL CITY ) MORTGAGE, INC. F/K/A NATIONAL CITY ) MORTGAGE CO., ) ) ATTORNEY'S FEE AFFIDAVIT Plaintiff, ) ) vs. ) o g SCOTT E. LEHNERT, DAWN M. ) n c -T1LEHNERT, UNIVERSITY OF IOWA ) >74 COMMUNITY CREDIT UNION A/K/A U ) o-c 1' OF I COMMUNITY CREDIT UNION, CITY ) 7 m OF CORALVILLE, CITY OF IOWA CITY, ) - --19. 0 CITY OF NORTH LIBERTY and PARTIES ) u"' IN POSSESSION, ) a w Defendants. ) STATE OF IOWA ) ) ss: COUNTY OF POLK ) I, Matthew E. Laughlin, being first duly sworn on oath, hereby depose and state that I am a member of the firm of Davis, Brown, Koehn, Shors &Roberts, P.C., the attorneys for the Plaintiff in the above-entitled cause; that I have read the foregoing Petition and am familiar with the contents thereof, and the allegations contained therein are true as I verily believe. I further depose and state that I am a regularly practicing attorney in the Courts of the State of Iowa; that the attorney's fees prayed for herein are for services rendered and to be rendered by me as attorney for the Plaintiff in this action; that there has been no agreement, EXHIBIT "C" #577658 J' express or implied between me and any other person or persons except other practicing attorneys engaged with me in this action, for a division or sharing o(NA, ey's fees prayed for herein. Matt V71.111% •hlin Subscribed and sworn to before me this /qday of rtvot-- , 2008. ,..4(.. ' e- . *Commission.smxpires F1A, EMILY BENETTI EYJ Number 741806 Notary Public, te of Iowa iow,. la joirnt0 00 D-.1 z 71 0-< — r m .7.<m 0 D W Lk) 2 615 N Classen Blvd. Oklahoma City OK 73106 (800)421-2153(405)606-8200 fax 290-2015 www.cmrclaims.com CN1Fi FIANRGEMENT RESOURCES *****NOTICE OF CLAIM***** Date: 06-02-2008 CERTIFIED MAIL,RETURN RECEIPT REQUESTED To: CITY OF IOWA CITY CITY CLERK 410 E WASHINGTON ST IOWA CITY,IA 52240 CERTIFIED MAIL# 91 7108 2133 3934 8365 9906 RE: Damage to Qwest Property Qwest Claim Num: 447795 Damage/Discovery Date: 05-28-2008 Damage Location: 100 KOSER AVE,IOWA CITY,IA Damage County: Damage Amount: UNDETERMINED Dear Sir/Madam: Please be advised that Qwest Facilities sustained damage as a result of the negligent acts or omissions by employees or agents of CITY OF IOWA CITY. Investigation has revealed that on or about 05-28-2008 employees or agents of CITY OF IOWA CITY, CITY OF IOWA CITY DAMAGED A QWEST 300 PAIR BURIED CABLE DURING WATER EXCAVATION WITH A BACKHOE in the area of 100 KOSER AVE,IOWA CITY,IA. REQUEST FOR GOVERNMENTAL NOTICE FORM If your Governmental Entity requires the completion of its own form to complete proper notice,please forward a copy to the address listed above. Every good faith effort has been made to identify the proper office and address to perfect our notice. Please forward to your attorney, if misdirected, to contact us. Matters herein stated are alleged on information and belief this pleader believes to be true. If there is insurance to cover this matter,kindly advise as to the name of the insurance company,its address and tkv011 f t i u/ri/// claim number assigned. If you have any questions, or need additional information,please contact`t}$GrELE 1-800-321-4158 ext 8273. •� ; pTAR.....:KS #06011463 _ Sincerely, EXP.11l28110 r Holly Finley N9 / r l 6://fitillm0"OF� ���` �I (.6 NOTARY 1 _ I CMR Claims DEPT Commission Expires ITilll' ��T END OF CASE FILE IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY SABRINA KELLER, ) ) ) Equity No. EQCV069108 Plaintiff, ) ) v. ) ) IOWA CITY HOUSING ) AUTHORITY, ) ) ) • ) ACCEPTANCE OF SERVICE Defendant. ) STATE OF IOWA ) )ss: COUNTY OF ) I, Ma r i an -e. -1 rr,hereby acknowledge that I have received an Original Notice, Petition for Writ of Certiorari, Order for Writ of Certiorari, and Writ of Certiorari in the above- entitled action, and I hereby accept service of the Original Notice, Petition for Writ of Certiorari, Order for Writ of Certiorari, and Writ of Certiorari all on this G day of f11€trch ,2008. 71 e. 7 . kezAA) G Cer &C , for the Iowa City Housing Authority Subscribed and sworn to under oath before me by said Mr;&, K. k&rr , on this day of IAA rcl, , 2008. d9''Ns SONDRAE FORT Ser.,aAAts i Commission Number 159791 Commission Cres Notary Public in and for low My se„da� w8 the State of Iowa 3/7/zit rR� � 2 ua 64-"g` IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY SABRINA KELLER, ) ) ) Equity No. E(,j GV 0 691 O 8i Plaintiff, ) ) v. ) ) IOWA CITY HOUSING • ) AUTHORITY ) ) ) ) ORIGINAL NOTICE Defendant. ) TO THE ABOVE-NAMED DEFENDANT: You are notified that a petition has been filed in the office of the clerk of this court, naming you as the defendants in this action. A copy of the petition is attached to this notice. The attorney for plaintiff is Elizabeth A.Norris, whose address is Iowa Legal Aid, Iowa City Regional Office, 430 Iowa Avenue, Iowa City, Iowa 52240. The attorney's telephone number is 319-351-6570, and her fax number is 319-351-0079 You must serve upon plaintiff's attorney a motion or answer within 20 days after service of this original notice upon you, and, within a reasonable time thereafter, file your motion or answer with the Clerk of Court for Johnson County at the courthouse in Iowa City, Iowa. If you do not,judgment by default may be entered against you for the relief demanded in the petition. If you require the assistance of auxiliary aids or services to participatein court because of a disability, immediately call your district ADA coordinator at 319-398-3920 ext.1109. (If you are hearing impaired, call Relay Iowa TTY at 1-800-735-2942). E.: RICT=C CLL OF DISTRICT COUR'If Johnson County Courthouse Iowa City, IA 52240 IMPORTANT YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS. IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY SABRINA KELLER, ) ) r / p ) Equity No. E C UL9 10 //Q? Plaintiff, ) ) v. ) ) IOWA CITY HOUSING ) AUTHORITY ) ` ' ` - ) =_, -v ) Qr_: ) PETITION FOR WRIT OF CERTIORARI' Defendant. ) COMES NOW Plaintiff,by and through her counsel, Elizabeth A. Norris of Iowa Legal Aid, and for her Petition for Writ of Certiorari states to the Court as follows: 1. Plaintiff Sabrina Keller("Keller") is a current resident of Chicago, Cook County, Illinois. 2. Defendant Iowa City Housing Authority("ICHA") is a department of the City of Iowa City. 3. Defendant ICHA is an inferior tribunal or board within the meaning of Iowa R. Civ. P. 1.1401. 4. Keller was a recipient of Section 8 Voucher rental assistance in the Section 8 housing program administered by ICHA. At the time of her status as recipient of Section 8 Voucher rental assistance, she resided at 16 Cornflower Court in Iowa City, Johnson County, Iowa. 5. On December 10, 2007,Housing Program Assistant Card Fox-Rummelhart, an employee of ICHA, sent a notice to Keller advising her that her Section 8 Rental Assistance would be terminated 1/31/08. The notice stated that Keller's Rental Assistance would be terminated 1 not allowed him to reside with her.Defendant presented evidence in the form of hearsay evidence, which was contradicted by the direct testimony of Keller and her three witnesses. Keller also presented evidence in the form of hearsay evidence, which contradicted Defendant's hearsay evidence. 10. Defendant has acted illegally in this matter because, after consideration of relevant factors and the evidence presented, ICHA's decision is not supported by substantial evidence of the record. WHEREFORE,Keller respectfully requests that the Court: A. Issue a writ of certiorari commanding Defendant to certify to this Court the record of the relevant proceedings; B. Set this matter for hearing; C. Hold that Defendant's decision to terminate Keller's Section 8 Rental Assistance is illegal and unenforceable; D. Tax the costs of this action to Defendant; and E. Grant such other relief as may be just and equitable under the circumstances. Respectfully submitted, a,* '1_1 n3/4 cr1 N T, Elizabeth A. Norris = AIN: AT0005912 ` n Iowa Legal Aid, Iowa City Regional Offer 430 Iowa Avenue, Iowa City, Iowa 52245, tel.: 319-351-6570 I fax: 319-351-0079 cn ATTORNEY FOR PLAINTIFF 3 IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY SABRINA KELLER, • ) ) / p ) Equity No. EQCVo 6?fog Plaintiff, ) ) v. ) - T' TJ 7";- IOWA CITY HOUSING ) AUTHORITY ) c oci ) ORDER FOR WRIT OF CERTIORARI a; Defendant. �/) NOW on this 25(1-day of • , 2008, this matter comes before the Court on Plaintiff's Petition for Writ of Certiorari. The Court fmds that the Writ of Certiorari should issue. The Court, therefore, orders the Clerk to issue the Writ of Certiorari commanding Defendants to certify to this Court on or before the 210* day of March , 2008 the complete record of the proceedings complained of in the petition as well as any other records pertaining to the facts of the case now before this Court. LARilli J. C 011: JUDGE SIXTH JUDICIAL DISTRICT OF IOWA IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY SABRINA KELLER, ) ) Plaintiff, ) Equity No. E4c' 0Gil 10 ) ) v. ) ) IOWA CITY HOUSING ) WRIT OF CERTIORARI AUTHORITY ) ) ) Defendant. ) ) TO: Defendant Iowa City Housing Authority: WHEREAS, in Plaintiff's petition, it has been made to appear to the Iowa District Court for Johnson County that you are proceeding illegally in terminating Plaintiff's Section 8 Rental Assistance,you are therefore commanded to certify and return to this Court on or before the d day of S— ,2008,the complete record of the proceedings complained of in the petition as well as any other records pertaining to the fact of the case now before this Court, and to have then and there this writ. WITNESS my hand and the seal of this Court at Iowa City, Johnson County, State of & Iowa this aS day of .- „ 2008. Lodema Berkley, Clerk 0 j4 411/10 designee END OF CASE FILE CIVIL PROCESS WORKSHEET • JOHNSON COUNTY SHERIFFS OFFICE•PO BOX 2540,511 S CAPITOL ST, IOWA CITY, IA 52244-2540•(319)356-6030 PLAINTIFF: ALPHA CHI OMEGA HOUSE Docket No 08-01266 State IOWA vs. Court No 307CV68 County DEFENDANT: CONTINENTAL CASUALTY COMPA Ref No Received 02/27/2008 Requestor(s) Phone; • MCMONAGLE,ROBERT B (563)324-3246 Name CITY OF IOWA CITY Party Type WITNESS Address 410 E WASHINGTON ST ATTN: KEEPER OF THE RECORDS IOWA CITY IA Phone E-Mail Fax Employer Zone Comments Documents � = ..a . ' '� -� • A �w s; _ dvZ. a Q,;.t: SUBPOENA 03/16/2008 ❑ El Senr>i t�fQiRratt��iP ?9 Date Time Server Notes Date 8-0 F Time /5—/ Type Lf OV � Party SAI3 K Relationship C i -f-�( C Race �' Sex P. DOB Location g(o 6 to--A-s ht,k)C Miles I Fee 9-6` Officer C--1 Notes: r.: a >—1. W 17-9 C 62i ir/ i/4/? C e Printed:Wednesday,February 27,2008 Page 1 of 1 • • AO 88 Rev'941 Subpoena in a Civil Case IN THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF IOWA DAVENPORT DIVISION ALPHA CHI OMEGA HOUSE SUBPOENA IN A CIVIL CASE CORPORATION FOR SIGMA CHAPTER, United States District Court For The Southern District of Iowa Plaintiff, Davenport Division Civil Action No.: 3:07-CV-66 vs. —4i m CONTINENTAL CASUALTY COMPANY, �'? r op Defendant. ` - 1-1 To: CITY OF IOWA CITY a 410 East Washington Street Iowa City,IA 52240 Attn: Keeper of the records 0 YOU ARE COMMANDED to appear in the United States District Court at the place, and time specified below to testify in the above case. PLACE OF TESTIMONY COURT ROOM DATE AND TIME YOU ARE COMMANDED to appear at the place, date, and time specified below to testify at the taking of the deposition in the above case. You are further commanded to produce at the time of said deposition all documents pursuant to the attached Rider PLACE OF DEPOSITION: DATE AND TIME ® YOU ARE COMMANDED to produce and permit inspection and copying of the following documents or objects at the place, date and time specified below: See attached rider for description of documents to be produced. Once documents are available for copying,please contact Thomas S.Gozdziak,Clausen Miller PC,10 S.LaSalle Street,Chicago,IL 60603-1098, Telephone: (312)606-7853,Facsimile(312)606-7777,Email: tgozdziak@clausen.com. PLACE: DATE AND TIME CITY OF IOWA CITY,410 East Washington Street,Iowa City,IA 52240,Attn: Keeper of 3/17/08 10:00 a.m. the records YOU ARE COMMANDED to permit inspection of the following premises at the date and time specified below. PREMISES DATE AND TIME Any organization not a party to this suit that is subpoenaed for the taking of a deposition shall designate one or more officers, directors,or managing agents,or other persons who consent to testify on its behalf,and may set forth for each person designated the matters on which the person will testify. Federal Rules of Civil Procedure, 30(b)(6). 1163890.1 ISSUING OFFICER SIGNATURE AND TITLE(INDICATE IF ATTORNEY FOR PLAINTIFF DATE OR DEFENDANT) Celeste A. Hill,Attorney for Defendant Clausen Miller PC, 10 S.LaSalle Street,Chicago, 0603-1098 Direct Telephone:(312)606-7690 4r1- 0.510S/ ISSUING OFFICER NAME,ADDRESS AND PHONE NUMBER DATE Celeste A.Hill CLAUSEN MILLER P.C. 10 SOUTH LASALLE STREET CHICAGO,ILLINOIS 60603 (312)606-7690 See Rule 45.Federal Rules of Civil Procedure Parts C&D attached. If action is pending in district other than district of issuance, state district under case number. AO 88 Re. 1 941 Subpoena in a Civil Case PROOF OF SERVICE Date: Place: SERVED SERVED ON(PRINT NAME) MANNER OF SERVICE SERVED BY(PRINT NAME) TITLE DECLARATION OF SERVER I declare under penalty of perjury under the laws of the United States of America that the foregoing information contained in the Proof of Service is true and correct. Executed on: SIGNATURE OF SERVER ADDRESS OF SERVER ry 0 C7 c� n � N —10 co r` Fri 1T1 0 co 1163890.1 • • Rule 45.Federal Rules of Civil Procedure,Parts C& D: (c) Protection of Persons Subject to Subpoenas. (1) A party or an attorney responsible for the (iii) requires disclosure of privileged or other protected issuance and service of a subpoena shall take reasonable matter and no exception or waiver applies,or steps to avoid imposing undue burden or expense on a person subject to that subpoena. The court on behalf of (iv) subjects a person to undue burden. which the subpoena was issued shall enforce this duty and impose upon the party or attorney in breach of this (3)(B) If a subpoena duty an appropriate sanction which may include, but is not limited to, lost earnings and reasonable attorney's (i) requires disclosure of a trade secret or other fee. confidential research, development, or commercial information,or (2)(A) A person commanded to produce and permit (ii) requires disclosure of an unretained expert's opinion inspection and copying of designated books, papers, or information not describing specific events or documents or tangible things, or inspection of premises occurrences in dispute and resulting from the expert's need not appear in person at the place of production or study made not at the request of any party,or inspection unless commanded to appear for deposition, hearing or trial. (iii) requires a person who is not a party or an officer of a party to incur substantial expense to travel more than (2)(B) Subject to paragraph(d)(2)of this rule,a person 100 miles to attend trial, commanded to produce and permit inspection and copying may, within 14 days after service of the the court may,to protect a person subject to or affected by the subpoena or before the time specified for compliance if subpoena, quash or modify the subpoena, or, if the party in such time is less than 14 days after service, serve upon whose behalf the subpoena is issued shows a substantial need the party or attorney designated in the subpoena written for the testimony or material that cannot be otherwise met without undue hardship and assures that the person to whom objection to inspection or copying of any or all of the the subpoena is addressed will be reasonably compensated, designated materials or of the premises. If objection is the court may order appearance or production only upon made, the party serving the subpoena shall not be specified conditions. entitled to inspect and copy materials or inspect the premises except pursuant to an order of the court by (d) Duties in Responding to Subpoena. which the subpoena was issued. If objection has been made, the party serving the subpoena may, upon notice (I) A person responding to a subpoena to produce documents to the person commanded to produce, move at any time shall produce them as they are kept in the usual course of business for an order to compel the production. Such an order to or shall organize and label them to correspond with the categories compel production shall protect any person who is not a in the demand. party or an officer of a party from significant expense resulting from the inspection and copying commanded. (2) When information subject to a subpoena is withheld on a claim that is privileged or subject to protection as trial preparation materials, the claim shall be made expressly and shall be (3)(A) On timely motion, the court by which a supported by a description of the nature of the documents, subpoena was issued shall quash or modify the subpoena communication,or things not produced that is sufficient to enable if it the demanding party to contest the claim. (i)fails to allow reasonable time for compliance; (ii) requires a person who is not a party or an officer of a party to travel to a place more than 100 miles from the place where that person resides, is employed or regularly transacts business in person except O o that, subject to the provisions of clause (c)(3XB)(iii) of n this rule, such a person may in order to attend trial be > commanded to travel from any such place within the state �' in which the trial is held,or R' N -<r._ m �- - o w 1163890.1 RIDER Definitions and Instructions 1. "Relating to" or "related to" means consisting of, referring to, constituting, reflecting, or being in any way legally, logically, or factually connected to the matter(s) discussed. 2. The term "documents" includes, but is not limited to, papers, writings, memoranda, books, accounts, drawings, graphs, charts, photographs, films, records, recordings, computer files, computer databases, computer printouts, correspondence, electronic mail, tapes, stenographic or handwritten notes, diaries, letters, telegrams, minutes, contracts, agreements, reports, surveys, data compilations of any kind, teletypes, telexes, facsimiles, invoices, order forms, checks, drafts, statements, receipts, credit memos, reports, summaries, books, ledgers, notebooks, schedules, transparencies, recordings, catalogs, advertisements, promotional materials, films, video tapes, audio tapes, brochures, pamphlets, or any written or recorded materials of any other kind,however stored, recorded, produced, or reproduced, and also including,but not limited to, drafts or copies of any of the foregoing that contain notes, comments, or markings of any kind not found on the original documents or that are otherwise not identical to the original documents, and all retrievable information in computer storage, and other data compilations from which information can be obtained, translated, if necessary, into a reasonably usable form. A draft or non-identical copy is a separate document within the meaning of this word. The term documents includes electronically stored information, electronic or computerized data compilations, writings, drawings, graphs, charts, photographs, sound recor i1gs, images, and other data or data compilations stored in any mediurjfrom Mich information can be obtained. 0 -*l N T Documents to be Produced z< r 1. All documents relating to a review by any department, agency, cemimssi 1 or employee of the City of Iowa City, including but not limited to JuliallmafEand Robert Miklo, of city planning and/or zoning requirements, Site Development Standards, or Historic Preservation requirements, applicable to the restoration or reconstruction of the sorority house or property located at 828 East Washington Street, Iowa City, Iowa following the April 13, 2006 tornado. 2. All documents relating to a review by any department, agency, commission or employee of the City of Iowa City, including but not limited to Julie Tallman and Robert Miklo, of city planning and/or zoning requirements, Site Development Standards or Historic Preservation requirements, applicable to parking requirements for the restoration or reconstruction of the sorority house or property located at 828 East Washington Street, Iowa City, Iowa following the April 13, 2006 tornado. 1164797.1 3. All documents relating to a review by any department, agency, commission or employee of the City of Iowa City, including but not limited to Julie Tallman and Robert Miklo, of city, county or state ordinances, codes, laws, regulations or standards, applicable to the restoration or reconstruction of the sorority house or property located at 828 East Washington Street, Iowa City, Iowa following the April 13, 2006 tornado, including but not limited to parking requirements. 4. All documents,plans, drawings or ordinances reviewed, considered or analyzed in connection with Julie Tallman's identification and/or consideration of issues relevant to the site plan review for the restoration of 828 East Washington Street, Iowa City, Iowa, as discussed or referenced in her 24 January 2007 letter to Kim McDonald of Neumann Monson Architects (attached hereto as Exhibit A). 5. To the extent that an official site plan review was performed in relation to the restoration or reconstruction of the sorority house or property located at 828 East Washington Street, Iowa City, Iowa following the April 13, 2006 tornado, all documents plans, drawings, ordinances, codes, laws, regulations or standards reviewed, generated or considered during the official site plan review, and all documents describing or reflecting the results of, or relating to, the official site plan review. 6. All communications and documents exchanged with Neumann Monson Architects and/or Alpha Chi Omega regarding the restoration or reconstruction of the sorority house or property located at 828 East Washington Street, Iowa City, Iowa following the April 13, 2006 tornado, or regarding ordinances, tides, lvs, regulations or standards applicable to that restoration, including but> .Sttlimit ,to parking requirements. c ,1 7. All ordinances, codes, laws, regulations or standards applicable to th '>;Stora`'ion r1 or reconstruction of the sorority house or property located at 828 East._Washinon ,L Street, Iowa City, Iowa following the April 13, 2006 tornado, spekioally with regard to parking requirements. 7> 8. All documents expressing the City of Iowa City's opinion, position or interpretation regarding the applicability of parking requirements contained in any ordinance, code, law, regulation or standard,to the restoration or reconstruction of the sorority house or property located at 828 East Washington Street, Iowa City, Iowa on or after April 13, 2006. 9. All documents related to any appeal or challenge filed or pursued with the Board of Adjustment seeking a reduction in the required number of parking spaces for the restoration or reconstruction of the sorority house or property located at 828 East Washington Street, Iowa City, Iowa after April 13, 2006. 10. All documents, plans or drawings relating to parking space requirements or a review of parking space requirements for the sorority house or property located at 828 East Washington Street, Iowa City, Iowa after April 13, 2006. 1164797.1 11. All documents, plans or drawings relating to parking space requirements or a review of parking space requirements for the sorority house or property located at 828 East Washington Street, Iowa City, Iowa prior to April 13, 2006. OCCI rn r'"I C� ry cza Ti -0 co n -t, •f"1 D ca w 1164797.1 ; 1, ,. 1,4 - -7 r71- / CITY OF10WA=C1T , ;- 24 January 2007 ==t C 7-1 Kim McDonald0- Neumann Monson Architects 221 East College Street o Suite 303 Iowa City, Iowa 52240 kmcdonald@neumannmonson.corn Re: 828 East Washington Street Dear Kim: I spent some time going through our Zoning Ordinance to find issues that will be relevant during our site plan review for the restoration of 828 East Washington Street. What follows is not an official site plan review. Zoning The zoning is RNS-20. The lot is within a Conservation District Overlay Zone, as well as the Central Planning District. Density Sororities are permitted uses within this zone. The maximum occupancy of a sorority is based on the size of the tract; there must be 545 square feet of lot area per occupant. The four lots that comprise this tract total 33,315 sf, allowing up to 61 occupants. Dimensional Requirements and Multi-Family Site Development Standards In the Central Planning District,the front building setback may not deviate more than five feet from the average setback of existing principal buildings along the same frontage. A new building may not be located closer to the street than the existing principal building closest to the street along the same frontage. Under this rule,to properly site the building, we will require the setback distances of buildings along the Washington frontage(between Lucas and S. Governor)and the S. Governor frontage(between Iowa and Washington). Average setbacks will be calculated for each street frontage and the setback of the new sorority can be administratively approved as long as it is set back within five feet of either side of the average, and as long as the setback is not closer to the right-of-way than any existing building along either frontage. Side yards are required at five feet plus two additional feet for every story above two stories. A rear yard of 20 feet is required. Maximum building height is 35' and there is a maximum lot coverage of 45% for all buildings on the lot. Surface parking must be located behind the sorority and concealed from view of both S. Governor and Washington. Surface parking may not be located between the principal building and a street or within the required side setback. If any portion of the parking is visible from a street. it must be screened to the S2 standard. A ten-foot wide S2 buffer is required between a parking area and adjacent properties, and between the parking area and any street right-of-way No parking area or drive may be closer than ten feet to any portion of the sorority building other than an attached garage The ten feet between the parking area or drive must be used for walkways and landscaping consisting of at least 50%vegetative cover. There are specifications for building entrances, which I will not discuss in detail here. Essentially there must be an entrance visible from the street and every entrance visible from a street must be enhanced with some architectural detail(s). Building facades along a street may not exceed 40 feet in length unless the facade is broken into modules, each not more than 30 feet and not less than ten feet in width, with wall variations between modules at least 16' in depth. Buildings that are three or more stories may utilize modules that are up to 40 feet wide. Parking As you already noted, one parking space is required for every 300 square feet of parking area or at a rate of 0.75 spaces per resident, whichever is less. There is also a requirement for bike parking equal to 25% of the required vehicular parking Estimating 47 residents, I calculate a need for 35 parking spaces and nine bike parking spaces. A parking area with more than 18 vehicles requires parking lot trees, where each parking space is within 40 feet of a small tree or within 60 feet of a large tree. Access Management When we met, I assumed that Governor was an arterial street. I was wrong. Governor and Washington are both considered collector streets, the result of which is increased flexibility in the amount and spacing of driveways. There must be a minimum of 20 feet between the:end of the • radius of the streets' intersection and the beginning of a driveway curb cut. There mist be at least six feet between curb cuts. The City will determine, during site plan review, the appropriate number and location of access points on either collector street. No more than three driveways .; will be permitted, with a maximum of two driveways permitted along any street. The maximum ,n width of a driveway is 24 feet at the property line and 32 feet at the curb. Trees Street trees will be required at a ratio of one tree for every 60 feet of frontage Residential c� coverage trees are required at one tree for every 550 square feet of total building coverage. Screening Earlier I mentioned the requirement for S2 screening between the parking lot and right-of-ways, as well as between the parking lot and adjacent properties. S2 screening consists of shrubs that grow to a height of between two and four feet in height, with 1/3 of the shrubs growing to at least four feet. Lighting Mounting height of fixtures is limited to 25 feet in height. All bulbs over 2000 lumens must be fully shielded. Illumination at property boundaries is limited to 0 5 initial horizontal footcandles or 2 0 initial maximum footcandles. RNS-20 is a Medium Illumination District so there is a limit of 100,000 maximum initial lumens per net acre. Net acre is calculated by subtracting building coverage from total lot area. Example: if you have 33,315 sf lot area and a building with a footprint of 14,991, the net acreage is 18,324 sf, or 0 42 acre. 100,000 (0 42) =42,000 maximum initial footcandles for all exterior lighting on the property. Sensitive Areas It appears there are slopes of 40% and steeper on the lot. Any slope with a vertical rise of at least ten feet and percentage of fall of 40% or more is a "protected slope'. Protected slopes and 'altered protected slopes' (that is, slopes of 40% or more that were created by human activity) require buffers of two feet for every one foot of vertical rise, The maximum buffer is 50 feet. If rt becomes necessary to work within the required buffer of either a protected slope or an altered protected slope, a Level II Sensitive Areas Review is required. No development activity is allowed under any conditions on a protected slope, but development activity might be allowed on an altered protected slope if a geologist or professional engineer can demonstrate that the activity will not undermine the stability of the slope and the development activity is consistent with the intent of Iowa City's zoning ordinance. Slopes between 25% and 39% are"critical slopes'. One may disturb up to 35%of the critical slopes on a property without going through a Level II Sensitive Areas Review. Critical slopes do not require buffers. If your project results in the disturbance of more than 35% of the critical slopes on the property, a Level II Sensitive Areas Review is required. A Level II Sensitive Areas Review is treated as a Planned Overlay Rezoning and is reviewed by the Planning and Zoning Commission and approved by City Council. Fees If the site plan for 828 E. Washington can be administratively approved, there will be a $250 site plan review fee. If it is necessary for the plan to be reviewed as a Level II Sensitive Areas Review, there are two possibilities. A Preliminary OPD fee of$620 plus$15 per lot, and Final Administrative Review of the Final OPD/Major Site Plan of$250; or a Combined Preliminary and Final OPD fee of$685 plus $15 per lot. Appeals Minor Modifications to the Site Development Standards may be requested for qualifying situations, where the configuration of the lot or other existing physical condition of the lot makes the application of a specific standard impractical, or where the proposed building is uniquely designed to fit the site and the surrounding neighborhood Minor Midifications are applied for through Housing and Inspection Services. There is a $50 fee. There is an appeal process to the Board of Adjustment for a reduction in the required number of parking spaces, but it must be demonstrated that a specific use has unique characteristics such that the number of spaces required is excessive. There is a $360 fee. (This is scheduled to be increased in February 2007). Again, this is not intended to substitute for a formal site plan review. During a formal site plan review, other items may come to our attention. I hope this is helpful. Let me know if you have questions or need more information. Respectfully, O Julie Tallman -11 Development Regulations Specialist -5>_, r-t julie-tallman@iowa-city org ° 319/356-5132 319/341-4020 fax co soy !_Tl FT1 D o -c- END OF CASE FILE IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY BANK OF NEW YORK AS TRUSTEE FOR THE BENEFIT OF THE CERTIFICATEHOLDERS CWABS,INC. CASE NO. EQCV069189 ASSET-BACKED CERTIFICATES, SERIES 2005-BC4, PLAINTIFF'S MOTION PURSUANT TO RCP 1.981 FOR SUMMARY JUDGMENT Plaintiff, AND UNDISPUTED STATEMENT OF MATERIAL FACTS vs. PATRICK D. BRENNEMAN, DAWN R. BRENNEMAN, GREENWOOD MANOR, 3 al CITY OF IOWA CITY, IOWA *0 -- DEPARTMENT OF HUMAN SERVICES > ESTATE RECOVERY PROGRAM, CRAIGn a n N. WILLIS, ASSET ACCEPTANCE LLC, r m THE CBE GROUP INC., AND PARTIES IN 3 P 0 POSSESSION, D -O Defendants. COMES NOW the Plaintiff, and respectfully states to the Court the following in support of its Motion for Summary Judgment: 1. On or about 02/04/2005,the Defendant(s), Patrick D. Brenneman,executed and delivered to Intervale Mortgage Corporation one certain Promissory Note in the principal sum of $136,000.00. A copy of the Note is attached as Exhibit"A"to the Plaintiff's Petition on file herein. 2. To secure payment of the Note, the Defendant(s), Patrick D. Brenneman and Dawn R. Brenneman, executed and delivered to MERS as nominee for Intervale Mortgage Corporation one certain Mortgage in writing dated 02/04/2005, which Mortgage was filed on 02/08/2005, said Mortgage being upon certain real estate located in Johnson County, Iowa,to- wit: Lot One Hundred Three(103) in Part VI - Village Green,an Addition to Iowa City, Iowa, according to the plat thereof recorded in Plat Book 16, Page 8, Plat Records of Johnson County, Iowa CC Cr& (Co0e r ot\ly CA Rr•-12_11 3. The Mortgage dated 02/04/2005, was filed on 02/08/2005, in Book 3842, Page 420 in the records for Johnson County. 4. A copy of the Mortgage together with the Recorder's certificate thereon is attached as Exhibit"B"to the Plaintiff's Petition on file herein. 5. The Mortgage and Note provide that in case of default in the payment of any installment represented by the Promissory Note, the holder may declare the entire principal and the interest accrued thereon immediately due and payable, and the Mortgage may be foreclosed. 6. The Mortgage further provides that the holder thereof shall be entitled to collect all expenses of foreclosure including, but not limited to, reasonable attorney's fees, and costs of documentary evidence, abstracts, and title reports. 7. The Defendant(s), Patrick D. Brenneman and Dawn R. Brenneman, have failed to pay the principal and interest thereon as provided by the terms of the Note. 8. By reason of failure to pay the principal and interest, the Plaintiff elected in accordance with the terms and conditions of the Note and Mortgage to declare the whole of the Note due and payable forthwith, and to exercise its right to enforce payment of the entire Note as provided by the Note and to foreclose the Mortgage given to secure the same. 9. The unpaid balance due on the Note after allowing all credits due the Defendant is the principal balance of$133,442.46, plus interest in the amount of$11,573.61 to 05/12/2008 and at the rate of 12.44%per annum thereafter, late charges of$644.13, escrow advance of $1,138.02, property inspection of$75.00, corporate advances $623.64, reports of title $375.00, and attorney fees $1,225.00. 0 n 10. The Plaintiffs Mortgage is prior and superior to any interest of the 17ndas HT1 0-< _ r named herein. -40�� 11. The Plaintiff has filed herein appropriate Affidavits pursuant to RCP-1 '°i 2 0 (Affidavitof Identity), 1.972 (Nondisability Prisoner), 1.211 (Incompetent PrisonergArfida t of •o Nonmilitary Service, and Affidavit of Plaintiff's Lien. 12. The Defendant(s), Patrick D. Brenneman and Dawn R. Brenneman(herein referred to as Appearing Defendant(s)),have heretofore filed an Appearance and Answer herein. 13. The Appearing Defendant(s)have failed to raise in their pleadings any genuine issues of material fact for trial. 14. A written demand has been filed to delay the sale by the Defendants and the mortgaged property is not used for an agricultural purpose, is a residence, and is a one-family or two-family dwelling. WHEREFORE, the Plaintiff prays for judgment against the property, which is the subject of this action, for the principal sum of$133,442.46,plus interest in the amount of$11,573.61 to 05/12/2008 and at the rate of 12.44%per annum thereafter, late charges of$644.13, escrow advance of$1,138.02, property inspection of$75.00, corporate advances $623.64, reports of title $375.00, and attorney fees $1,225.00, and that said sums be declared a lien upon the premises above described from 02/04/2005,the date of the Plaintiffs Mortgage, prior and superior to any right, title, lien or interest of the Defendants or any of them thereon; that the Plaintiff's Mortgage be foreclosed; that any right, title, lien or interest of the Defendants or any of them in said premises be declared junior and inferior to the lien of the Plaintiffs Mortgage; that a special execution issue for the sale of the mortgaged premises or so much thereof as may be necessary to satisfy the judgment, including interest, costs and accruing costs; and that from and after the sale under special execution the right, title, lien or interest of the Defendants in and to the mortgaged premises be forever cut off, barred and foreclosed and the purchaser at said sale take free and clear of any right, title, lien or interest of the Defendants or any of them. The Plaintiff further prays that a writ of possession be issued under the seal of this court directed to the Sheriff of Johnson County, Iowa, commanding him to put the purchaser at said sale under special execution, or his successor in interest, into immediate possession of the premises, pursuant to Section 654.20. Respectfully submitted, DUNAKEY & KLATT, P.C. o• /2. 0-P1o.a --- Brian G. yer AT 06893 p Amy R. Dollash AT0008965 Lu531 Commercial St., Ste. 250 W •o v i- P.O. Box 2363 Waterloo, IA 50701 LL F—< 319-232-3304 � Ut 0 319-232-3639 (fax) Attorneys for the Plaintiff Certificate of Service The undersigned certifies that the foregoing instrument was served upon all parties to the above cause to each of the attorneys of record herein at their respective addresses disclosed on the pleadings on May 13, 2008 by U.S. Mail 1/\_...9 Amy J•( o ch Parties in Possession 1132 Village Farm Court Iowa City, IA 52240 Asset Acceptance LLC Address unknown despite a diligent inquiry. Dawn R. Brenneman 1132 Village Farm Court Iowa City, IA 52240 Patrick D. Brenneman 9 n 1132 Village Farm Court y 'f7 Iowa City, IA 52240 0 —i n o` City of Iowa City r �� m 0 c/o City Clerk Marian Karr O — 410 E. Washington St. 7c 77 Iowa City, IA 52240 Greenwood Manor 605 Greenwood Dr. Iowa City, IA 52246 Iowa Department of Human Services c/o Director Kevin W. Concannon Hoover State Office Building 1305 E. Walnut Des Moines, IA 50319 The CBE Group,Inc. c/o Registered Agent Thomas R. Penaluna 131 Tower Park Dr. Ste. 100 Waterloo,IA 50701 Craig N. Willis 2984 Oliver Ln NE Iowa City, IA 52240 IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY BANK OF NEW YORK AS TRUSTEE FOR THE BENEFIT OF THE CERTIFICATEHOLDERS CWABS, INC. CASE NO. EQCV069189 ASSET-BACKED CERTIFICATES, SERIES 2005-BC4, PLAINTIFF'S MEMORANDUM Plaintiff, SUPPORTING MOTION FOR SUMMARY JUDGMENT vs. PATRICK D. BRENNEMAN, DAWN R. BRENNEMAN, GREENWOOD MANOR, CITY OF IOWA CITY, IOWA _ DEPARTMENT OF HUMAN SERVICES O ESTATE RECOVERY PROGRAM, CRAIG 0 N. WILLIS, ASSET ACCEPTANCE LLC, az n 74 _ -- THE CBE GROUP INC., AND PARTIES IN C o: r POSSESSION, o Ms Q Defendants. LAW POINT THE PLAINTIFF IS ENTITLED TO FORECLOSURE ON THE REAL ESTATE MORTGAGE WHICH SECURES THE PAYMENT OF THE NOTE MADE AND EXECUTED BY THE DEFENDANTS BECAUSE THE DEFENDANTS HAVE FAILED TO PAY THE NOTE ACCORDING TO ITS TERMS AND TO PERFORM OTHER COVENANTS CONTAINED THEREIN. AUTHORITIES Iowa Code §654 Iowa Code Annotated Rule 1.981(3) Bank of Omaha v. Wilmarth, 218 Iowa 339, 252 N.W. 507 (1934) Bates v. Allied Mutual Ins. Co.,467 N.W.2d 255 (Iowa 1991) Behr v. Meredith Corp.,414 N.W.2d 339 (Iowa 1987) Clay County v. Incorporated City of Spencer, 268 N.W.2d 493 (Iowa 1978) Coffin v. Younker, 196 Iowa 1021, 195 N.W. 591 (1923) Collin v. Nagle, 200 Iowa 562, 203 N.W. 702 (1925) Fees v. Mutual Fire and Auto Ins. Co., 490 N.W.2d 55 (Iowa 1992) Hoefer v. Wisconsin Educational Assoc. Ins. Trust,470 N.W.2d 336 (Iowa 1991) Konz v. Ehly, 451 N.W.2d 504 (Iowa App. 1989) Willow Tree Investments Inc. v. Wagner, 453 N.W.2d 641 (Iowa 1990) OS n 59 CJS Mortgages, § 503 0-< -- III" =ate 59 CJS Mortgages, § 507 rn 0 59 CJS Mortgages, § 519 D DISCUSSION The general prerequisites to the right of foreclosure are: 1) that there be a valid mortgage securing a debt or duty which remains wholly or in part unpaid or unperformed, 2) by which some kind of estate or title has been conveyed to the Mortgagee as security, and 3) a breach of a condition of the mortgage. Iowa Code § 654; 59 CJS Mortgages §503. In the present case, the Defendants made, executed, and delivered a certain Promissory Note to the Plaintiff, the payments of which were secured by a mortgage on real estate located in Johnson County, Iowa. It is generally recognized that where an agreement exists between the parties to the effect that the entire debt shall or may, at the election of the Mortgagee, become immediately due on a partial default in payment of the mortgage debt, or an installment thereof, foreclosure may be had for the entire amount on such default. Collin v. Nagle, 200 Iowa 562, 203 N.W. 702 (1925); 59 CJS Mortgages § 507. A mortgage may also be foreclosed for breach of or failure to observe any other covenant provided in the mortgage instrument. 59 CJS Mortgages § 519. A mortgage containing an acceleration clause providing for the acceleration of the maturity of the debt secured by the mortgage at such default in payment or breach of any or specific covenants, gives the Mortgagee the right to commence an action to recover the entire amount of the principal and interest due. Bank of Omaha v. Wilmarth, 218 Iowa 339, 252 N.W. 507 (1934); Collin v. Nagle, 200 Iowa 562, 203 N.W. 702 (1925); Coffin v. Younker, 196 Iowa 1021, 195 N.W. 591 (1923); 59 CJS Mortgages § 507. The Defendants in this case have failed to pay the Note according to its terms and to perform other covenants contained therein. The mortgage in question plainly states that if a default occurs in the payment of the indebtedness that is secured, or any part of the interest thereon, then,at the option of Mortgagee, the Note and the whole of the indebtedness secured by the mortgage shall become due, and is collectable at once by foreclosure or otherwise after such default or failure. The Note also provides that upon nonpayment of any installment on its due date, all remaining installments shall, at the option of the Holder, become immediately due and payable. The purpose of summary judgment is to enable a party with just cause of action to obtain judgment without unnecessary delay and expense of trial where there is no genuine€ksue of material fact present. Clay County v. Incorporated City of Spencer, 268 N.W.2d 483 Iowa 1978). Summary judgment is therefore only appropriate where there is no genuineegue a to any material fact and the moving party is entitled to a judgment as a matter of law5PC.A4ule 0 1.981(3); Behr v. Meredith Corp., 414 N.W.2d 339, 341 (Iowa 1987). The burde of c�ri m demonstrating that there is no material fact in dispute is upon the moving party. Willow Tree- Investments Inc. v. Wagner, 453 N.W.2d 641, 642 (Iowa 1990). Every legitimate inference that reasonably can be deduced from the evidence should be afforded the nonmoving party. Behr v. Meredith Corp.,414 N.W.2d 339, 341 (Iowa 1987). A fact question is generated if reasonable minds can differ on how the issue should be resolved, but if the conflict in the record consists only of the legal consequences flowing from the undisputed facts, entry of summary judgment is proper. Hoefer v. Wisconsin Educational Assoc. Ins. Trust, 470 N.W.2d 336, 338 (Iowa 1991). A Court must examine the entire record before it in the light most favorable to the non- moving party. Bates v. Allied Mutual Ins. Co., 467 N.W.2d 255, 258 (Iowa 1991). Once the moving party has satisfied the burden of production in demonstrating no genuine issue of material fact exists, the burden shifts to the resisting party to set forth specific facts showing that a genuine issue for trial remains. Konz v. Ehly, 451 N.W.2d 504, 506 (Iowa App. 1989). An issue of fact is only"material"where the dispute is over a fact that might affect the outcome of the suit. Fees v. Mutual Fire and Auto Ins. Co., 490 N.W.2d 55, 57 (Iowa 1992). Summary judgment is appropriate in the present case. The Defendants have failed to raise in their pleadings any genuine issues of material fact for trial. The best evidence of the facts concerning the transaction and occurrence, which is the subject matter of the present action, are the Note and Mortgage documents themselves. The Plaintiff submits these documents, its pleadings, and Affidavit in Support of the Motion for Summary Judgment. CONCLUSION No genuine issue of material fact exists concerning the Defendants' liability on the Promissory Note and Real Estate Mortgage held by the Plaintiff. The Plaintiff, therefore, respectfully prays for summary judgment in its favor,to which it is entitled as a matter of law; costs and accruing costs against the Defendants; and such further and equitable relief as is deemed just by the Court. Respectfully submitted, DUNAKEY&KLATT, P.C. isai hi /* A , Brian G. -r AT! 1 06893 Amy R. Do lash AT0008965 531 Commercial Street, Ste. 250 P.O. Box 2363 Waterloo IA 50704-2363 Phone: (319)232-3304 Fax: (319)232-3639 Attorneys for the Plaintiff a n 11 o� 9 r m m D U, 0 Certificate of Service The undersigned certifies that the foregoing instrument was served upon all parties to the above cause to each of the attorneys of record herein at their respective addresses disclosed on the pleadings on May 13, 2008 by U.S. Mail Amy Jo �• la•c Parties in Possession 1132 Village Farm Court Iowa City, IA 52240 Asset Acceptance LLC Address unknown despite a diligent inquiry. Dawn R. Brenneman 1132 Village Farm Court Iowa City, IA 52240 Patrick D. Brenneman 1132 Village Farm Court Iowa City,IA 52240 _ 0 City of Iowa City D n , c/o City Clerk Marian Karr --c -< y, 410 E. Washington St. _,.�0 Iowa City, IA 52240 m =} Greenwood Manor O .. 605 Greenwood Dr. D �n Iowa City,IA 52246 Iowa Department of Human Services c/o Director Kevin W.Concannon Hoover State Office Building 1305 E. Walnut Des Moines, IA 50319 The CBE Group,Inc. do Registered Agent Thomas R. Penaluna 131 Tower Park Dr. Ste. 100 Waterloo, IA 50701 Craig N. Willis 2984 Oliver Ln NE Iowa City, IA 52240 END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE • PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540 • (319) 356-6030 PLAINTIFF: COUNTRYWIDE HOME LOANS,INC Docket No 108-01986 State OWA vs. Court No EQCV069233 County JOHNSON J DEFENDANT: CONAWAY, KIMBERLY F Ref No Received 04/02/2008 Requestor(s) Phone BOECKER, THEODORE R (515)222-9400 Name jIOWA CITY,CITY OF Party Type DEFENDANT Address 410 E WASHINGTON ST C/O CITY CLERK J IOWA CITY _ IA 52240- J Phone L _ E-Mail L - I Fax Employer[ -I Zone L Comments Documents Document Serve by Date OE PSR Description/Special Instructions ORIGINAL NOTICE AND ❑ ❑ r PETITION Service Information Attempts Log Date Time Server Notes Date Li - J Time Type : C r I G PartyØtpyoqv\? IC01( Relationship Race Sex rDOB Location LI 10 Q S f W ii 41- i TG ' Miles Fee Officer Notes: O o CD w Printed:Wednesday,April 02,2008 Page 1 of 1 28278 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY COUNTRYWIDE HOME LOANS, 13-2641992 : r INC. t e &G 33 • .• ORIGINAL NOTICE Plaintiff, : N C.73 VS . • Q KIMBERLY F. CONAWAY; -C CITY OF IOWA CITY, IOWA; n CTh c.� ! SPOUSE OF KIMBERLY F. j -r� !_ 7,:.. : y �J CONAWAY, IF ANY; .-,, Defendants . : D CZ TO THE ABOVE NAMED DEFENDANTS : You are notified there is a petition now on file in the office of the clerk of the above court . A copy of this filing is attached hereto. The Plaintiff ' s attorneys are Petosa, Petosa & Boecker, L.L. P. , by Theodore R. Boecker , whose address is 1350 NW 138th Street, Suite 100, Clive, Iowa 50325-8308 . The Plaintiff ' s attorney' s phone number is (515) 222-9400, with a facsimile transmission number of (515) 222-9121 . You must serve a motion or answer, within 20 days after service of this original notice upon you and within a reasonable time thereafter file a motion or answer, in the Iowa District Court of Johnson County, at the county courthouse in Iowa City, Iowa. If you do not, judgment by default may be rendered against you for the relief demanded in the petition. If you require the assistance of auxiliary aids or services to participate in court because of a disability, immediately call your district ADA coordinator at (319) 398-3920 ." If you are hearing impaired, Call Relay 74,Y atm 1- 00-735-2942) . :.YiaT,. C,�.k `��,LY Q4 i� ' ''t., 4ukulpuac, Cle6 of the Above Court Johnson County Courthouse Iowa City, Iowa 522442510 YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS. COea. : 0 (YA (evz_Orkt_i) 28278 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY COUNTRYWIDE HOME LOANS, 13-2641992 INC. EQUITY NO. • Eoc.vND (3a33 • PETITION r , Plaintiff, • F vs . KIMBERLY F. CONAWAY; -= _13 ` s{ CITY OF IOWA CITY, IOWA; • SPOUSE OF KIMBERLY F. ; : `') CONAWAY, IF ANY; Ui Defendants. . NOTICE THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION. THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE COURT A WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND, THE SALE WILL BE DELAYED UNTIL SIX MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS RESIDENCE BUT NOT A ONE-FAMILY OR TWO-FAMILY DWELLING. YOU WILL HAVE NO RIGHT OF REDEMPTION AFTER THE SALE. THE PURCHASER AT THE SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY PURCHASE AT THE SALE. 0 -� CJ .r- 1 Plaintiff, Countrywide Home Loans, Inc . , for its cause of action states : 1 . That the Plaintiff is a corporation doing business in the United States of America. 2 . That on or about June 30, 2006, Kimberly F. Conaway made, executed and delivered to Iowa State Bank and Trust Company, a promissory note in writing for the sum of $80, 250 . 00 payable in installments, with interest at 6 . 125% per annum from such date (the "Note") . A copy of the Note is attached hereto and made a part hereof as Exhibit "A" . 3 . That on or about June 30, 2006 in order to secure the payment of the Note, Kimberly F. Conaway (the "Mortgagor (s) " ) made, executed and delivered to Iowa State Bank and Trust Company, a real estate mortgage (the "Mortgage") on the-6 following described real estate (the "Mortgaged Property" r- t1 r Lot 87, Whispering Meadows Subdivision, Part Two to j \ S' Iowa City, Iowa, according to the plat thereof w recorded in Book 34, Page 99, Plat Records of Johnsor�' r County, Iowa the Mortgage was filed for record July 13, 2006, in Book 4053 , Page 11-20 in the Recorder' s Office of Johnson County, Iowa. A copy of the Mortgage is attached hereto and made a part hereof as Exhibit "B" . Said mortgage is a Purchase Money Mortgage. 4 . That the Mortgaged Property is and at all times relevant hereto was the homestead of the Mortgagor (s) . 2 5 . That the Plaintiff is currently the holder of record of the Note and Mortgage. 6 . That the Plaintiff is the sole and absolute owner of the Mortgage; that the Note and Mortgage provide that if default be made at any time in payment of any installment of principal or interest, at the election of the Plaintiff, all indebtedness, without notice of such election, shall become immediately due and payable; that the Plaintiff by reason of the failure of the Mortgagor (s) to pay said installments, declares the Note in default, that there is now due and owing the Plaintiff the sum of $78, 805 . 47 with interest at 6 . 125% per annum from and including November 1, 2007 plus late fees, attorney fees, abstract expense, protective advances and costs. 7 . That the Plaintiff has given the Mortgagor (s) notice of the right to cure said default and to date has received no response thereto. 8 . That the time to cure the default under Iowa law". has ,-.3 now expired. - - 9 . That said Note and Mortgage provide that if suit`-'be `r commenced thereon, Mortgagor(s) will pay reasonable attorneys ' fees . An attorneys ' fee affidavit is attached hereto and made a part hereof as Exhibit "C" . 10 . That the Plaintiff now hereby in writing waives any right or claim to a deficiency judgment against the Mortgagor (s) . That the Mortgaged Property is the residence of 3 the Mortgagor (s) and is a one-family or two-family dwelling. The Plaintiff hereby elects to foreclose without redemption and the sale of the Mortgaged Property shall occur promptly after entry of judgment, unless the Mortgagor (s) , pursuant to the Notice set forth above, files a written demand to delay the sale, in which event the sale shall be delayed until six months after entry of judgment . 11 . That the following parties are named as Defendant (s) because they claim some right, title or interest in the Mortgaged Property, including, without limitation a right, title or interest as described below but any such right, title or interest is junior and inferior to the interest of N Plaintiff : O C� Ct7 �`0 770 • Spouse of Kimberly F. Conaway, if any, for any _ -< — interest in the subject property. f i • City of Iowa City, Iowa, $26, 750 . 00 Mortgage, dated June 30, 2006, filed July 13 , 2006, Book 4053, Page 22__ ca 12 . That the Mortgage provides that any time after the proper commencement of an action in foreclosure or during the period of redemption, the Court having jurisdiction of the case shall, at the request of the Plaintiff, appoint a receiver to take immediate possession of the Mortgaged Property and of the rents and profits accruing therefrom, to rent the same as he may deem best for the interest of all parties concerned and shall be liable to account to the Mortgagor (s) only for the net 4 profits after application of rents, issues and profits upon the cost of the expense of receivership and foreclosure and the indebtedness, charges and expenses hereby secured and herein mentioned. WHEREFORE THE PLAINTIFF PRAYS THE COURT: 1 . That the Plaintiff have judgment in rem against the Mortgaged Property for the amount of unpaid principal and interest on the Note, as provided in the Note and Mortgage and for late fees, attorney fees, abstract expense, protective advances and costs . 2 . That a receiver be appointed immediately to take care of, manage, lease and collect the rents from the Mortgaged Property, and to apply the same in payment of costs and expenses of said receivership, repairs and expenses of said real estate, accrued and accruing taxes and special assessments, insurance premiums, and in partial payment of the judgment to be entered herein. 3 . That said judgment, together with interest, late fees, attorney fees, abstract expense, protective advances, costs and C:V aj accruing costs be decreed a prior lien upon the Mortgaged Property from the date of the Mortgage, and that all rig14, w m -r� interests and equities of all Defendants to this suit be _ 0 declared junior to the right, title and interest of the Plaintiff . 5 4 . That in the event Plaintiff is required to make protective advances, including without limitation, advances for taxes or insurance on the Mortgaged Property, the Plaintiff be given an additional lien thereon for such amounts so advanced, which shall be included in the judgment to be entered herein. 5 . That the Mortgage be foreclosed and the Defendant (s) ' equity of redemption be barred and foreclosed save as guaranteed by law. That special execution issue for the sale the Mortgaged Property to satisfy said judgment, interest, late fees, attorney fees, abstract expense, protective advances and costs . 6 . That special execution issue to satisfy said judgment, interest and attorneys ' fees, and accruing costs herein, and the Mortgaged Property be sold according to law to satisfy the amount due under the Decree issued by this Court and the Defendants herein or anyone claiming by, through or under them, be forever barred and foreclosed of any interest in the . o C Mortgaged Property, except such rights of redemption as y -`-i provided by law. C.' w r- 7 . That if the Mortgaged Property is sold and not 0: w redeemed, the Clerk of this Court shall issue to the Sheriff of said County, a writ of removal and possession, commanding him to put the grantee named in the Sheriff ' s deed for said premises sold, or his grantee, in possession thereof, and to remove any Defendants, or persons claiming by, through or under 6 any of them, or any person in possession thereof out of such possession. 8 . That the Plaintiff has elected foreclosure without redemption and the sale of the Mortgaged Property shall occur promptly after entry of judgment or in the alternative, if a written demand for delay is filed, the sale shall occur six months after entry of judgment . 9 . That the Plaintiff be granted such further relief as may be just and equitable. PETOSA, PETOSA & BOECKER, L.L. P. By7f-A44' 6/ Theodore R. Boecker, AT0000872 1350 NW 138th Street, Suite 100 Clive, Iowa 50325-8308 Telephone: (515) 222-9400 Facsimile : (515) 222-9121 ATTORNEYS FOR PLAINTIFF N Go r) `— C-1 W 1 2Z Ga 7 NOTE ks a trOf th and o 1b0! 47 /ow g e'�a� `Icr 0OPY nk host June 30,2006 Iowa City , Iowa [Date] [City] [State] 2667 Indigo Court Iowa Ciiyt IA 52240 [Property Address] 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received,I promise to pay U.S.$80,250.00 (this amount is called"Principal"),plus interest,to the order of the Lender. The Lender is Iowa State Bank and Trust Company . I will make all payments under this Note in the form of cash,check or money order. I understand that the Lender may transfer this Note.The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the"Note Holder." 2. INTEREST Interest will be charged on unpaid principal until the full amount of Principal has been paid.I will pay interest at a yearly rate of 6.125%. • The interest rate required by,this Section 2 is the rate I will pay both before and after any default described in Section 6(B)of this Note. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest by making a payment every month. I will make my monthly payment on the 1st day of each month beginning on August 1st , 2006 . I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal.If,on July let , 2036 ,Istill owe amounts under this Note,lwill pay those amounts infull on that date,which is called the"Maturity Date." I will make my monthly payments at 325 South Clinton St PO Box 1700 Iowa City,IA 52244 or at a different place if required by the Note Holder. (B) Amount of Monthly Payments My monthly payment will be in the amount of U.S.$487.61 4. BORROWER'S RIGHT TO PREPAY I have the right to make payments of Principal at any time before they are due. A payment of Principal only is known as a "Prepayment."When I make a Prepayment,I will tell the Note Holder in writing that I am doing so.I may not designatea payment as a Prepayment if I have not made all the monthly payments due under the Note. I may make a full Prepayment or partial Prepayments without paying a Prepayment charge. The Note Holder will use my Prepayments to reduce the amount of Principal that I owe under this Note.However,the Note Holder may applymyPrepayment to the accrued and unpaid interest on the Prepayment amount,before applying my Prepayment to reduce the Principal amount of the Note.If I make a partial Prepayment,there will be no changes in the due date or in the amount of my monthly payment unless the Note Holder d agrees in writing to those changes. 5. LOAN CHARGES y. If a law,which applies to this loan and which sets maximum loan charges,is finally interpreted so that the interest or other loan i --try charges collected or to be collected in connection with this loan exceed the permitted limits,then: (a)any such loan charge shall be 11 reduced by the amount necessary to reduce the charge to the permitted limit;and(b)any sums already collected from me which_.,' , exceeded permitted limits will be refunded to me.The Note Holder may choose to make this refund by reducing the Principal I owe t'1 under this Note or by making a direct payment to me. If a refund reduces Principal,the reduction will be treated as a partial --1 Prepayment. , - t t t 6. BORROWER'S FAILURE TO PAY AS REQUIRED •r b (A) Late Charge for Overdue Payments \.J If the Note Holder has not received the full amount of any monthly payment by the end of 15 calendar days after the - date it is due,I will pay a late charge to the Note Holder.The amount of the charge will be 5.000%of my overdue payment of •• principal and interest. I will pay this late charge promptly but only once on each late payment. - ? (B) Default If 1 do not pay the full amount of each monthly payment on the date it is due,I will be in default. (C) Notice of Default III am in default,the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date,the Note Holder may require me to pay immediately the full amount of Principal which has not been paid and all the interest that I owe on that amount.That date must beat least 30 days after the date on which the notice is mailed tome or delivered by other means. (D) No Waiver By Note Holder Even if,at a time when I am in default,the Note Holder does not require me to pay immediately in full as described above,the Note Holder will still have the right to do so if I am in default ata later time. (E) Payment of Note Holder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above,the Note Holder will have the right lobe paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include,for example,reasonable attorneys'fees. 7. GIVING OF NOTICES Unless applicable law requires a different method,any notice that must be given tome under this Note will be given bydelivering • it or by mailing it by first class mail to meat the Property Address above of at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first class mail to the Note Holder at the address stated in Section 3(A)above or at a different address if I am given a notice of that different address. 8. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note,each person is fully and personally obligated to keep all of the promises made in this Note,including the promise to pay the full amount owed. Any person who is a guarantor,surety or endotser of this Note is also obligated to do these things.Any person who takes over these obligations,including the obligations of a guarantor,surety or endorser of this Note,is also obligated to keep all of the promises made in this Note. The Note Holder may enforce Its rights under this Note MULTISTATE FIXED RATE NOTE—Single Fmnity—Fnwnle M.,./Fre. EXHIBIT Form 3200 1/01(p,, 1 oft p,gra) 9047.CV(405) 4473898-00B }^-{ Creative Thinking,Inc. GOTO(001(3446) ( 0-733 IIIIIIIIIIIII1II I1IIIIII111111 INp1I1I1IIII1 q m Recorded: 07/13/20081 at 01:54 18N PM Fee Amt: 652.00 Page 1 of 10 Johnson County Iowa Kim Painter County Recorder BK4053 P011-20 111111111111111 1 sal 1011511111)10\e 610 -f [Space above reserved for Recorder of Deeds certification] Prepared By:Catherine M Franz Iowa State Bank and Trust Company 325 South Clinton St PO Box 1700 Iowa City,IA 52244(319)356-5960 When Recorded Return To: Iowa State Bank and Trust Company 325 South Clinton St PO Box 1700 Iowa City,IA 52244 1. Title of Document:MORTGAGE 2. Grantor(s):Kimberly F.Conaway,a single person 3. Grantee(s):Iowa State Bank and Trust Company r.S ..a 4. Statutory Mailing Address(s):325 South Clinton St PO Box 1700 Iowa City,IA 52244 J _ —n 5. Legal Description: Page 3 0 c (7-.. 6. Parcel Identification Number.1024357016 7. Document or Instrument It: EXHIBIT Paget of 9 9742.CV(7N5) Creative Thinking,Inc. GGTG(0010441) • o • w A PURCHASE MONEY MORTGAGE MORTGAGE DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3,11,13,18,20 and 21. Certain rules regarding the usage of words used in this document are also provided in Section 16. (A)"Security Instrument"means this document,which is dated June 30th , 2006 ,together with all Riders to this document (B) "Borrower"is Kimberly F.Conaway,a single person Borrower is the mortgagor under this Security Instrument. (C)"Lender"is Iowa State Bank and Truct Company .Lender is a Corporation organized and existing under the laws ofthe State of Iowa Lender's address is • •• •9 t i. Lender is the mortgagee under this Security Instrument (I)) "Note"means the promissory note signed by Borrower and dated June 30th . 2006 . The Note states that Borrower owes Lender •• I e, •, ;• , •J :•, ti it Dollars(U.S.$80,250.00 )plus interest.Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than July 1,2036 (E) "Property"means the property that is described below under the heading'Transfer of Rights in the Property." (F) "Loan"means the debt evidenced by the Note,plus interest,any prepayment charges and late charges due under the Note,and all sums due under this Security Instrument,plus interest. (G) "Riders"means all Riders to this Security Instrument that are executed by Borrower. The following Riders are to be executed by Borrower[check box as applicable]: ❑ Adjustable Rate Rider ❑ Condominium Rider El Second Home Rider ❑ Balloon Rider ❑ Planned Unit Development Rider [] Other(s)[specify]Tax Exempt ❑ 1-4 Family Rider ❑ Biweekly Payment Rider Financing Rider (H) "Applicable Law"means all controlling applicable federal,state and local statutes,regulations,ordinances and administrative rules and orders(that have the effect of law)as well as all applicable final,non-appealable judicial opinions. (I)"Community Association Dues,Fees,and Assessments"means all dues,fees,assessments and other charges that are imposed on Borrower or the Property by a condominium association,homeowners association or similar organization. (J) "Electronic Funds Transfer"means any transfer of funds,other than a transaction originated by check,draft,or similar paper instrument,which is initiated through an electronic terminal,telephonic instrument,computer,or magnetic tape so as to order,instruct,or authorize a financial institution to debit or credit an account.Such term includes,but is not limited to, point-of-sale transfers,automated teller machine transactions,transfers initiated by telephone,wire transfers,and automated clearinghouse transfers. (K) "Escrow Items"means those items that are described in Section 3. (L)"Miscellaneous Proceeds"means any compensation,settlement,award of damages,or proceeds paid byany third party (other than insurance proceeds paid under the coverages described in Section 5)for:(i)damage to,or destruction of,the Property,(ii)condemnation or other taking of all or any part of the Property,(iii)conveyance in lieu of condemnation;or (iv)misrepresentations of,or omissions as to,the value and/or condition of the Property. (M) "Mortgage Insurance"means insurance protecting Lender against the nonpayment of,or default on,the Loan. (N) "Periodic Payment"means the regularly scheduled amount due for()principal and interest under the Note,plus(itF any amounts under Section 3 of this Security Instrument. x`. (0)"RESPA"means the Real Estate Settlement Procedures Act(12 U.S.C.§2601 et seq.)and its implementingregu lation,- - —�9 -t Regulation X(24 C.F.R.Part 3500),as they might be amended from time to time,or any additional or successor legislation) i or regulation that governs the same subject matter.As used in this Security Instrument,"RESPA"refers to all requirements,---)'` t and restrictions that are imposed in regard to a"federally related mortgage loan"even if the Loan does not qualify as a (-21 CO ,—.-1 "federally related mortgage loan"under RESPA. rJ t (P)"Successor in Interest of Borrower"means any party that has taken title to the Property,whether or not that partyhas )I r assumed Borrower's obligations under the Note and/or this Security Instrument. •T! •~ TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender:(i)the repayment of the Loan,and all renewals,extensions and modifications of the Note;and(ii)the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose,Borrower irrevocably mortgages,grants and conveys to Lender,with power of sale,the following described property located in the County of Johnson [Type of Recording Jurisdiction] [Name of Recording Jurisdiction] IOWA—Single Family--Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Farm 3016 1/01(page 2 of 9 pager) 9742.CV(7A5) Creative Thinking,Inc. 0010(00113447) Lot 87,Whispering Meadows Subdivision,Part Two to Iowa City,Iowa,according to the plat thereof rca recorded in Book 34,Page 99,Plat Records of Johnson County,Iowa. Q cm, , ` w which currently has the address of 2667 Indigo Court [Street] Iowa City ,Iowa 52240 ("Property Address"): [City] [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances,and fixtures now or hereafter a part of the property.All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the"Property." BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered,except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands,subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1.Payment of Principal,Interest,Escrowltems,Prepayment Charges,and Late Charges.Borrower shall pay when due the principal of,and interest on,the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S.currency.However,if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms,as selected by Lender:(a)cash;(b)money order;(c)certified check,bank check,treasurer's check or cashier's check,provided any such check is drawn upon an institution whose deposits are insured by a federal agency,instrumentality,or entity;or(d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as maybe designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current.Lender may accept any payment or partial payment insufficient to bring the Loan current,without waiver of any rights hereunder or prejudice to its rights to refuse such payment or partial payments in the future,but Lender is not obligated to apply such payments at the time such payments are accepted.If each Periodic Payment is applied as of its scheduled due date,then Lender need not pay interest on unapplied funds.Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current' If Borrower does not do so within a reasonable period of dine,Lender shall either apply such funds or return them to Borrower.If not applied earlier,such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2.Application of Payments or Proceeds.Except as otherwise described in this Section 2,all payments accepted and applied by Lender shall be applied in the following order of priority: (a)interest due under the Note;(b)principal due under the Note;(c)amounts due under Section 3.Such payments shall be applied to each Periodic Payment in the order in which it became due. Any remaining amounts shall be applied first to late charges,second to any other amounts due under this Security Instrument,and then to reduce the principal balance of the Note. If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due,the payment may be applied to the delinquent payment and the late charge. If more than one Periodic Payment is outstanding,Lender may apply any payment received from Borrower to the repayment of the Periodic Payments it and to the extent that,each payment can be paid in full.To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments,such excess may be applied to any late charges due.Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments,insurance proceeds,or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date,or change the amount,of the Periodic Payments. 3.Funds for Escrow Items.Borrower shall pay to Lender on the day Penodic Payments are due under the Note, until the Note is paid in full,a sum(the"Funds")to provide for payment of amounts due for.(a)taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property;(b)leasehold payments or ground rents on the Property,if any;(c)premiums for any and all insurance required by Lender under Section 5; and(d)Mortgage Insurance premiums,if any,or any sums payable by Borrower to Lender in lieu of the paymentofMortgage Insurance premiums in accordance with the provisions ofSection 10.These items are called"Escrow Items."Atorigination or at any time during the term of the Loan,Lender may require that Community Association Dues,Fees,and Assessments,if any,be escrowed by Borrower,and such dues,fees and assessments shall be an Escrow Item. Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section.Borrower shall pay Lender the Funds for Escrow Items IOWA--Single Family—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 301E 1/01(page 3 of 9 pages) 9742.CV(7105) Creative Thinking,Inc. GO7O(00113447) • unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items.Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only be in writing. In the event of such waiver,Borrower shall pay directly,when and where payable,the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and,if Lender requires,shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument,as the phrase "covenant and agreement"is used in Section 9.IfBorrower is obligated to pay Escrow Items directly,pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item,Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount.Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and,upon such revocation, Borrower shall pay to Lender all Funds,and in such amounts,that are then required under this Section 3. Lender may,at any time,collect and hold Funds in an amount(a)sufficient to permit Lender to apply the Funds at the time specified under RESPA,and(b)not to exceed the maximum amount a lender can require under RESPA.Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures offutureBscrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency,instrumentality,or entity (including Lender,if Lender is an institution whose deposits are so insured)or in anyFederal HomeLoan Bank.Lender shall apply the Funds to pay the Escrow Items no later than the time specified under RESPA.Lender shall not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge. Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,Lender shall not be required to pay Borrower any interest or earnings on the Funds.Borrower and Lender can agree in writing,however,that interest shall be paid on the Funds. Lender shall give to Borrower,without charge,an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow,as defined under RESPA,Lender shall account to Borrower for the excess funds in accordance with RESPA. If there is a shortage of Funds held in escrow,as defined under RESPA,Lender shall notify Borrower as required by RESPA,and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA,but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow,as defined under RESPA,Lender shall notify Borrower as required byRESPA,and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA,but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Borrower any Funds held by Lender. 4. Charges;Liens.Borrower shall pay all taxes,assessments,charges,fines,and impositions attributable to the Property which can attain priority over this Security Instrument,leasehold payments or ground rents on the Property,if any, and Community Association Dues,Fees,and Assessments,if any.To the extent that these items are Escrow Items,Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender,but only so long as Borrower is performing such agreement;(b)contests the Iien in good faith by,or defends against enforcement of the lien in, legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending,but only until such proceedings are concluded;or(c)secures from the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender determines that any part of the Property is subject to a lien which can attain priority over this Security Instrument,Lender maygive Borrower a notice identifying the lien.Within 10 days of the date on which that notice is given,Borrower shall satisfthe lien or take one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5.Property Insurance.Borrower shall keep the improvements now existing or hereafter erected on theProperty insured against loss by fire,hazards included within the term"extended coverage,"and any other hazards including,but not limited to,earthquakes and floods,for which Lender requires insurance.This insurance shall be maintained in the amounts (including deductible levels)and for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lenders right to disapprove Borrower's choke,which right shall not be exercised unreasonably. Lender may require Borrower to pay, in connection with this Loan, either: (a)a one-time charge for flood zone determination,certification and tracking services;or(b)a one-time charge for flood zone determination and certification ry services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification. Borrower shall also be responsible for the payment of any fees imposed by the Federal•-- cin Emergency Management Agency in connection with the review of any flood zone determination resulting from an objectiot/...� by Borrower. r ^ 17* If Borrower fails to maintain any of the coverages described above,Lender may obtain insurance coverage,at _i Lender's option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of " ' _'_ coverage. Therefore,such coverage shall cover Lender,but might or might not protect Borrower,Borrower's equity in the L I -—- Property,or the contents of the Property,against any risk,hazard or liability and might provide greater or lesser coverage ': than was previously in ell ct.Borrower acknowledges that the cost of the insurance coverage so obtained might significantly--I C' exceed the cost of insurance that Borrower could have obtained.Any amounts disbursed by Lender under this Section 5 shall I become additional debt of Borrower secured by this Securityinstrnment These amounts shall bear interest at the Note rate Fr from the date of disbursement and shall be payable,with such interest,upon notice from Lender to Borrower requesting • payment.All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to •• disapprove such policies,shall include a standard mortgage clause,and shall name Lender as mortgagee and/or as an C.J additional loss payee.Lender shall have the right to hold the policies and renewal certificates.If Lender requires,Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices.If Borrower obtains any form of insurance coverage,not otherwise required by Lender,for damage to,or destruction of,the Property,such policy shall include a standard mortgage clause and shall name Lender es mortgagee and/or as an additional loss payee. In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender.Lender maymakeproof of loss if not made promptly by Borrower.Unless Lender and Borrower otherwise agree in writing,any insurance proceeds, whether or not the underlying insurance was required by Lender,shall be applied to restoration or repair of the Property,if the restoration or repair is economically feasible and Lender's security is not lessened.During such repair and restoration period,Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,provided that such inspection shall be undertaken promptly. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed.Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds,Lender shall not be required to pay Borrower any interest or earnings on such proceeds.Fees for public adjusters,or other third parties,retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower. If the restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due, with the excess,if any,paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. IOWA-Single Family—Fannie Mae/Freddle Mac UNIFORM INSTRUMENT Form 301f 1101 (page 4 of9page3) 9742CV(1105) Creative Thinking,Inc GOTO(00tf3447) • • If Borrower abandons the Property,Lender may file,negotiate and settle any available insurance claim and related matters.If Borrower does not respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim,then Lender may negotiate and settle the claim. The 30-day period will begin when the notice is given. In either event,or if Lender acquires the Property under Section 22 or otherwise,Borrower hereby assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount not to exceed theamounts unpaid under the Note or this Security Instrument, and(b)any other of Borrower's rights(other than the right to any refund of unearned premiums paid by Borrower)under all insurance policies covering the Property,insofar as such rights are applicable to the coverage of the Property.Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,whether or not then due. 6.Occupancy.Borrower shall occupy,establish,and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy,unless Lender otherwise agrees in writing.,which consent shall not be unreasonably withheld,or unless extenuating circumstances exist which are beyond Borrowers control. 7. Preservation,Maintenance and Protection of the Property;Inspections. Borrower shall not destroy, damage or impair the Property,allow the Property to deteriorate or commit waste on the Property.Whether or not Borrower is residing in the Property,Borrower shall maintain the Property in order to prevent the Propertyfrom deteriorating or decreasing in value due to its condition. Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible,Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage.If insurance or condemnation proceeds are paid in connection with damage to,or the taking of,the Property,Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes. Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed. If the insurance or condemnation proceeds are not sufficient to repair or restore the Property,Borrower is not relieved of Borrower's obligation for the completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property. If it has reasonable cause, Lender may inspect the interior of the improvements on the Property. Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8.Borrower's Loan Application. Borrower shall be in default if,during the Loan application process,Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materiallyfalse, misleading,or inaccurate information or statements to Lender(or failed to provide Lender with material information)in connection with the Loan.Material representations include,but are not limited to,representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9. Protection of Lender's Interest in the Property and Rights Under this Security Instrument. If (a)Borrower fails to perform the covenants and agreements contained in this Security Instrument,(b)there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Securitylnstrument(such as a proceeding in bankruptcy,probate,for condemnation or forfeiture,for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations),or(c)Borrower has abandoned the Property,then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument,including protecting and/or assessing the value of the Property,and securing and/or repairing the Property.Lender's actions can include,but are not limited to:(a)paying any sums secured by a lien which has priority over this Security Instrument;(b)appearing in court;and(c)paying reasonable attorneys'fees to protect its interest in the Property and/or rights under this Security Instrument,including its secured position in a bankruptcy proceeding.Securing the Property includes,but is not limited to,entering the Property to make repairs,change locks,replace or board up doors and windows,drain water from pipes,eliminate building or other code violations or dangerous conditions,and have utilities turned on or off.Although Lender may take action under this Section 9,Lender does not have to do so and is not under any duty or obligation to do so.It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable, with such interest,upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold,Borrower shall comply with all the provisions of the lease.IfBorrower r--a acquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing, ' o 10.Mortgage Insurance.If Lender required Mortgage Insurance as a condition of making the Loan,BorrowefJ cA shall pay the premiums required to maintain the Mortgage Insurance in effect.If,for any reason,the Mortgage Insurance ,,. ---, coverage required by Lender ceases to be available from the mortgage insurer that previously provided such insurance and:' � Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,Borrower-i' _-., shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect,from an alternate_ W mortgage insurer selected by Lender. If substantially equivalent Mortgage Insurance coverage is not available,Borrower 7:7.-4C. r .i shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage <r- ceased to be in effect.Lender will accept,use and retain these payments as a non-refundable loss reserve in lieu of Mortgage- f1 Insurance. Such loss reserve shall be non-refundable,notwithstanding the fact that the Loan is ultimately paid in full,and - T1 Lender shall not be required to pay Borrower any interest or earnings on such loss reserve.Lender can no longer require loss C) -- reserve payments if Mortgage Insurance coverage(in the amount and for the period that Lender requires)provided by an — •^ insurer selected by Lender again becomes available,is obtained,and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Ul Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance,Borrower shall pay the premiums required to maintain Mortgage Insurance in effect,or to provide a non-refundable loss reserve,until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate provided in the Note. Mortgage Insurance reimburses Lender(or any entity that purchases the Note)for certain losses it may incur if Borrower does not repay the Loan as agreed. Borrower is not a party to the Mortgage Insurance. Mortgage insurers evaluate their total risk on all such insurance in force from time to time,and may enter into agreements with other parties that share or modify their risk,or reduce losses.These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party(or parties)to these agreements. These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available (which may include funds obtained from Mortgage Insurance premiums). M a result of these agreements,Lender,any purchaser of the Note,another insurer,any reinsurer,any other entity, or any affiliate of any of the foregoing, may receive(directly or indirectly)amounts that derive from(or might be characterized as)a portion of Borrower's payments for Mortgage Insurance,in exchange for sharing or modifying the mortgage insurer's risk,or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer.the arrangement is often termed"captive reinsurance." Further. (a) Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,or any other terms of the Loan. Such agreements will not Increase the amount Borrower will owe for Mortgage Insurance,and they will not entitle Borrower to any refund. IOWA—Single Fairy—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3016 1/01(page 5 0/9 pager) 9747-Cv<yes) Creative Thinking,Inc. GOTO(00113447) • , (b)Any such agreements will not affect the rights Borrower has—if any—with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law.These rights may include the right to receive certain disclosures,to request and obtain cancellation of the Mortgage Insurance,to have the Mortgage Insurance terminated automatically,and/or to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. 11.Assignment of Miscellaneous Proceeds;Forfeiture.All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged,such Miscellaneous Proceeds shall be applied to restoration or repair of the Property,if the restoration or repair is economically feasible and Lender's security is not lessened.During such repair and restoration period,Lender shall have the right to hold such Miscellaneous Proceeds until Lender bas had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,provided that such inspection shall be undertaken promptly.Lender may pay for the repairs and restoration.in a single disbursement or in a series of progress payments as the work is completed. Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds.If the restoration or repair is not economically feasible or Lender's security would be lessened,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due,with the excess, if any, paid to Borrower. Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In the event of a total taking,destruction,or loss in value of the Property,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due,with the excess,if any,paid to Borrower. In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking,destruction,or loss in value is equal to or greater than theamountofthe sums secured by this Security Instrument immediately before the partial taking,destruction,or loss in value,unless Borrower and Lender otherwise agree in writing,the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction:(a)the total amount of the sums secured immediately before the partial taking,destruction,or loss in value divided by(b)the fair market value of the Property immediately before the partial taking,destruction,or loss in value. Any balance shall be paid to Borrower. In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking,destruction,or loss in value is less than the amount of the sums secured immediately before the partial taking,destruction,or loss in value,unless Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the Opposing Party(as defined in the next sentence)offers to make an award to settle a claim for damages,Borrower fails to respond to Lender within 30 days after the date the notice is given,Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument,whether or not then due. "Opposing Party"means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to scellaneous Proceeds. Borrower shall be in default if any action or proceeding,whether civil or criminal,is begun that,in Lender's judgment,could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument.Borrower can cure such a default and,if acceleration has occurred,reinstate as provided in Section 19,by causing the action or proceeding to be dismissed with a ruling that,in Lender's judgment,precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Secuntylnstrument.The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released;Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted byLender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising anyrigbt__,r� T.,• or remedy including,without limitation,Lender's acceptance of payments from third persons,entities or Successors in. • J .—,—` Interest of Borrower or in amounts less than the amount then due,shall not be a waiver of or preclude the exercise of any' . ;Al ' right or remedy. ! 1 13.Joint and Several Liability;Co-signers;Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However,any Borrower who co-signs this Security—-1 (a (a) co-signingSecurityonly mortgage,grant1�' :l Instrument but does not execute the Note "co-signer"): is this Instrument to ,! __} and convey the co-signer's interest in the Property under the terms of this Security Instrument;(b)is not personallyobligated- ibis- !' to pay the sums secured by this Security Instrument;and(c)agrees that Lender and any other Borrower can agree to extend, modify,forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co- signer's consent. C / Subject to the provisions of Section 18,any Successor in Interest of Borrower who assumes Borrower's obligations .c, C.3 under this Security Instrument in writing,and is approved byLender,shall obtain all of Borrower's rights and benefits under y CJI this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing.The covenants and agreements of this Security Instrument shall bind(except as provided in Section 20)and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default,for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument,including, but not limited to,attorneys'fees,property inspection and valuation fees.In regard to any other fees,the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee.Lender may not charge fees that are expressly prohibited by this Security Ins trument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges,and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits,then:(a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit;and(b)any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower.Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal,the reduction will be treated as a partial prepayment without any prepayment charge(whether or nota prepayment charge is provided for under the Note).Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing.Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means.Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. IOWA--Single Family—Fan ie Mu/Freddie Mac UNIFORM INSTRUMENT Font)3016 1/01(pada 6 of 9 yagu) 974/CV(7A5) -- Creative Thinking,Inc. GOrO(00I0447) • Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Security Instrument at any one time.Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender s address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received byLender. If any notice required by this Security Instrument is also required under Applicable Law,the Applicable Iaw requirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law;Severability;Rules of Construction. This Security Instrument shall he governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law.Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent,but such silence shall not be construed as a prohibition against agreement by contract.In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law,such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument:(a)words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender;(b)words in the singular shall mean and include the plural and vice versa;and(c)the word"may"gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest In Borrower.As used in this Section 18,"Interest in the Property"means any legal or beneficial interest in the Property,including,but not limited to,those beneficial interests transferred in a bond for deed,contract for deed,installment sales contract or escrow agreement,the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred)without Lender's prior written consent,Lender may require immediate payment in full of all sums secured by this Security Instrument However,this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option,Lender shall give Borrower notice of acceleration.The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions,Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of:(a)five days before sale of the Property pursuant to any power of sale contained in this Security Instrument;(b)such other period as Applicable Law might specify for the termination of Borrower's right to reinstate;or(c)entry of a judgment enforcing this Security Instrument Those conditions are that Borrower:(a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred;(b)cures any default of any other covenants or agreements;(c)pays all expenses incurred in enforcing this Security Instrument,including,but not limited to,reasonable attorneys'fees,property inspection and valuation fees,and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument;and(d)takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument,and Borrower's obligation to pay the sums secured by this Security Instrument,shall continue unchanged.Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following forms,as selected by Lender: (a)cash;(h)money order;(c)certified check,bank check,treasurer's check or cashier's check,provided any such check is drawn upon an institution whose deposits are insured by a federal agency,instrumentality or entity;or(d)Electronic Funds Transfer. Upon reinstatement by Borrower,this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred.However,this right to reinstate shall not apply in the case of acceleration under Section 18. 20. Sale of Note;Change of Loan Servicer;Notice of Grievance. The Note or a partial interest in the Note (together with this Security Instrument)can be sold one or inure times without prior notice to Borrower.A sale might result o in a change in the entity(known as the"Loan Servicer")that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note,this Security Instrument,and Applicable' Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change the Loan Servicer,Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer,the address to which payments should be made and any other information RESPArequires in connection with-j% a notice of transfer of servicing. If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the _4:1 _ purchaser of the Note,the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be O �) transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note C.) —t , purchaser. ,i p Neither Borrower nor Lender may commence,join,or be joined to any judicial action(as either an individual -- litigant litigant or the member of a class)that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of,or any duty owed by reason of,this Security Instrument,until such Borrower or Lender has notified the other party(with such notice given incompliance with the requirements of Section 15) T of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action.If Applicable Law provides a time period which must elapse before certain action can be taken,that time period will be deemed to be reasonable for purposes of this paragraph. The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21.Hazardous Substances.As used in this Section 21: (a)“Hazardous Substances"are those substances defined as toxic or hazardous substances,pollutants,or wastes by Environmental Law and the following substances:gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides,volatile solvents, materials containing asbestos or formaldehyde,and radioactive materials;(b) "Environmental Law"means federal laws and laws of the jurisdiction where the Property is located that relate to health,safety or environmental protection;(c) `Environmental Cleanup"includes any response action,remedial action,or removal action,as defined in Environmental Law;and(d)an "Environmental Condition means a condition that can cause,contribute to,or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence,use,disposal,storage,or release of any Hazardous Substances,or threaten to release any Hazardous Substances,on or in the Property.Borrower shall not do,nor allow anyone else to do, anything affecting the Property(a)that is in violation of any Environmental Law,(b)which creates an Environmental Condition,or(c)which,due to the presence,use,or release of a Hazardous Substance,creates a condition that adversely affects the value of the Property.The preceding two sentences shall not apply to the presence,use,or storage on theProperty of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property(including,but not limited to,hazardous substances in consumer products). Borrower shall promptly give Lender written notice of(a)any investigation,claim,demand,lawsuit or other action by any governmental or regulatory agency or private party involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge,(b)any Environmental Condition,including but not limited to, any spilling,leaking,discharge,release or threat of release of any Hazardous Substance,and(c)any condition caused by the IOWA--Single Family—Fannie Mse/Freddie Mac UNIFORMINSTRUMENT Form 3016 U01(pose 7 of 9 pogcs) 9742-CV(7/03) Creative Thinking,Inc GOTO(001f3147) • presence,use or release of a Hazardous Substance which adversely affects the value of the Property.If Borrower learns,oris notified by any governmental or regulatory authority,or any private party,that any removal or other remediation of any Hazardous Substance affecting the Property is necessary,Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 22. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument(but not prior to acceleration under Section 18 unless Applicable Law provides otherwise). The notice shall specify:(a)the default;(b)the action required to cure the default;(c)a date,not less than 30 days from the date the notice is given to Borrower,by which the default must be cured;and(d)that failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by this Security Instrument,foreclosure by judicial proceeding and sale of the Property. The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the date specified in the notice,Lender at its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding.Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22,including,but not limited to,reasonable attorneys'fees and costs of title evidence. 23. Release. Upon payment of all sums secured by this Security Instrument,Lender shall release this Security Instrument. Lender may charge Borrower a fee for releasing this Security Instrument,but only if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24.Waivers.Borrower relinquishes all right of dower and waives all right of homestead and distributive share in and to the Property. Borrower waives any right of exemption as to the Property. 25.HOMESTEAD EXEMPTION WAIVER.I UNDERSTAND THAT HOMESTEAD PROPERTY IS IN MANY CASES PROTECTED FROM THE CLAIMS OF CREDITORS AND EXEMPT FROM JUDICIAL SALE;AND THAT BY SIGNING THIS MORTGAGE,I VOLUNTARILY GIVE UP MY RIGHT TO THIS PROTECTION FOR THIS MORTGAGED PROPERTY WITH RESPECT TO CLAIMS BASED UPON THIS MORTGAGE. ‘rt,') R11.1k.:1110.-Gc-diXta June 30,2006 Kimberly F.C noway [Date] [Date] 26. Redemption Period.If the Property is less than 10 acres in size and Lender waives in any foreclosure pro- ceeding any right to a deficiency judgment against Borrower,the period of redemption from judicial sale shall be reduced to 6 months. If the court finds that the Property has been abandoned by Borrower and Lender waives any right to a deficiency judgment against Borrower,the period of redemption from judicial sale shall be reduced to 60 days. The provisions of this Section 26 shall be construed to conform to the provisions of Sections 628.26 and 628.27 of the Code of Iowa. IMPORTANT: READ BEFORE SIGNING. THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE.NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED.YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. BY SIGNING BELOW,Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with it. Witnesses: • ' s(' (Seal) Borrower Kim ly.F.Conaway (So Borrower -1.CJ a (SeaC w r-- Borrower [-- rn t M (Sea .. Borrower ' CO c-n IOWA—Single Pamny—Fannie Mae/Freddie Mac UNIFORM INSTRUMENT Form 3016 1101(page 8 of 9 pages) 9742.CV(1m5) Creative Thinking,Inc. GOTO(00i13447) � r [Space Below This Line For Acknowledgment] STATE OF Iowa )ss: COUNTY OF Johnson On this 30th day of June 2006 ,before me,the undersigned,a Notary Public in and for said county and state,personally appeared:Kimberly F.Conaway.a sinele person to me personally known to be the person(s)named in and who executed the foregoing instrument,and acknowledged that she executed the same as her voluntary act and deed. My commission expires:01/30/2008 p N• Notarial Seal-Iowa 11) I� ,y" Commission i T 12 Notary Pu,,;. Af d Sir said County .411 tate My Commission Expires 1/30(7-00e• Peggy J.Doerge [Space Below This Line Reserved For Lender and Recorder r-3 . W c J IOWA—Single Family—Fannie MaelFreddle Mac UNIFORM INSTRUMENT Ferns 3016 1101(page 9 of 9 pager) 9742CV(7/05) Creative Thinking,Inc. GO7O(00113447) • t Prepared by and RETURN TO: Iowa State Bank PO Box 1700,Iowa City,IA 52244 . telephone 319-356-5960 Title of Document: Rider to Mortgage Grantor: Kimberly F.Conaway (borrower(s)) Grantee: Iowa State Bank and Trust Co (fender) RIDER TO MORTGAGE This Tax-Exempt Financing Rider to Mortgage,made the date noted below,is Incorporated Into and shaft be deemed to amend and supplement the Mortgage of the same date given by the undersigned(the'Mortgagor")to secure the Mortgagor's Note to Iowa Stale Bank&Trust Company (here!n.the'Lender)and covering the property described in the Mortgage(the`Property')to which this Rider Is attached. The provisions hereof shall prevail notwithstanding any contrary provisions in any note or other instrument which evidences the obligations secured by the Mortgage. As long as the Mortgage is held by the Iowa Finance Authority or backs a mortgage-backed security held by the Iowa Finance Authority,Countrywide Home Loans,Inc.(the'Servicer")or such of its successors or assigns as may by separate instrument assume responsibility for assuring compliance by the Mortgagor with the provisions of this Rider,may declare all sums secured by the Mortgage to be Immediately due and payable If: (1)all or part of the property is sold or otherwise transferred(other than by devise,descent or operation of law) by the Mortgagor to a purchaser or other transferee: a. who cannot reasonable be expected to occupy the property as a principal residence within a reasonable time after the sale or transfer,all as provided in Section 143(c)and(I)(2)of the Internal Revenue Code of 1986,as amended(the'Code");or b. who has had a present ownership interest in a principal residence during arty part of the three-year period ending on the date of the sate or transfer,all as provided In Section 143(d)and(i)(2)of the Code(except that the language"100 percent'shall be substituted for'95 percent or more'where the latter appears In Section 143(d)(1)),unless the property Is Ina Targeted Area;or c. at an acquisition cost which Is greater than 90 percent of the average area purchase price(greater than 1 10 percent for Targeted Area residences),all as provided in Section 143(o)and(i)(2)of the Code;or d. who has a gross family income In excess of applicable median family Income;all as provided In Section 143(f)and(i)(2)of the Code;or (2)the Mortgagor fails,or ceases,to occupy the Property without the prior written consent of the Mortgagee or its successors or assigns;or (3)tho Mortgagor omits or misrepresents a fact that is material with respect to the provisions of Section 143 of the Code In the application for the Mortgage which secures the Note. rte) References are to the Code in effect on the date of the execution of the Mortgage and are deemed to include the applicable Q implementing regulations. By signing below,the Mortgagor(s)accepts and agrees to the terms of the Rider to Mortgage. D->_ j Date: i� 0(1 C. W 17L-1t A.'late'4.. AP- .AIL! «rower Co-Borrower tJ 1 - i Kimberly F Conaway Typed Name Typed Name - CEJ cn This instrument was acknowledged before me on ,/30/0 4' by Kimberly F Conaway as Mortgagor(s). NOTARY l'C'and for said Star- ( pgGGY J DOERGE 4 Notarial Seal -Iowa Commission 11714$12 My Commit:sign Scoires AFFIDAVIT STATE OF IOWA SS COUNTY OF POLK I, Theodore R. Boecker, being first duly sworn on oath depose and state that I am one of the attorneys for the Plaintiff in this cause; that I am a regular practicing attorney engaged in this case; that there has been no agreement, express or implied, between myself and my client, or between myself and any other person except attorneys associated with me in this case, for any sharing or division of the attorney fees to be taxed herein. I further depose and state that true copies of the note and mortgage and any other documents declared upon in the foregoing Petition are now in my actual possession; that I have read the above and foregoing Petition, know the contents thereof, have personal knowledge of the facts therein stated, and that the statements and allegations therein are true as I verily believe. Theodore R. Boecker AT0000872 Subscribed and sworn to before me this 27th day of March , 2008 . ?Aj _ Notary Public in and for the State of Iowa • Exhibit "C" END OF CASE FILE CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE • PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540 • (319) 356-6030 PLAINTIFF : DUNDON, BARBARA Docket No 08=03886 _ State vs Court No County DEFENDANT: DUNDON, SAMUEL Ref No j Received 07/01/2008 Requestor(s) Phone .NOTICE OF HOMESTEAD PLAT AND DEMAND FREY,KIRSTEN H (319) 351-8181 Name jKARR, MARIAN__ Party Type OTHER Address Phone nCr•-• � E-Mail I Fax I �'--4 r•-• Employer CITY OF IOWA CITY,410 E WASHINGTON Zone n ST, IOWA CITY, IA 52240 PH: (319)356- - r �` 'o .5030 — — __ fi- „a c-_- - ^ i•ii , MNllnformation — F Race Sex Birth Date i Age Hair Height Weight SSN Eyes Skin L Notes _; Documents Document Serve by Date OE PSR Description/Special Instructions NOTICE Service Information Attempts Log / Date Time Server Notes Date C� "Of-O g Time 7S-'-/ ) ds.-6-7,51-4- (Vz r NC Type - Party Relationship Race Sex DOB �/ Location �-/ 0 C L....AS ;„f(.. .fes-', ..--A--.,- ,...\ C" (4_7- Miles Z-(x-' Fee / rc ) Officer S-0---- Notes: Printed:Tuesday,July 01,2008 Page .1 ci 1 NOTICE OF HOMESTEAD PLAT AND DEMAND PURSUANT TO IOWA CODE SECTION 624.23(2) DATED: JuneZN, 2008 _ N TO: Marian Karr O City Clerk for Iowa City, Iowa -n 410 East Washington Street c)-< t F Iowa City, IA 52240 7z1 0 —' m o� s � RE: Judgment Against Samuel Dundon *7 w Case No. ICSTIC175297 D . Iowa District Court for Johnson County 1. You hold a judgment lien against the real estate legally described as follows: Lot 80, Court Hill - Scott Boulevard Part V Addition, an Addition to the City of Iowa City, Iowa, according to the plat thereof, recorded in Book 16, Page 65, Plat Records of Johnson County, Iowa. 2. Said real estate has been platted as a homestead pursuant to Iowa Code Section 561.4. A copy of said Designation and Plat of Homestead is attached hereto as Exhibit "A." 3. Pursuant to Iowa Code Section 624.23(2), the judgment lien described above and all benefits derived from the lien as to the real estate platted as a homestead shall be for- feited unless the owner of said judgment levies execution against the real estate within thirty (30) days from the date of service of this demand. ti&AAVIJa Barbara Dundon 3232 Washington Street Iowa City, IA 52245-3931 Cc : eM (COW on(y) O -n C)-G -1 I- -IC) iI fn 0 Prepared by: -G iC1 Kirsten H.Frey 920 S.Dubuque Street Iowa City Iowa 3508'1181 DESIGNATION AND PLAT OF HOMESTEAD STATE OF IOWA ) ) SS: JOHNSON COUNTY ) The undersigned, being first duly sworn, do upon oath depose and state as follows: 1. I, Barbara Dundon, a single person, am the sole titleholder of the property described below and I hereby select, designate and plat the following described property to be my homestead: Lot 80, Court Hill - Scott Boulevard Part V Addition, an Addition to the City of Iowa City, Iowa, according to the plat thereof, recorded in Book 16, Page 65, Plat Records of Johnson County, Iowa. 2. As the sole titleholder, I am authorized to plat and do hereby plat the above- described real estate as my homestead pursuant to Iowa Code Section 561.4. DATED this Z day of 3c.)r A_ 2008. li?(PL-49_Adt_ Barbara Dundon Subscribed and sworn to before me by the above-named Barbara Dundon, a single person, on this Z4{'t'`day of �v►2Q 2008. AMANDA GOULD t'Commission Number 741599 ow July 6,2009 g ida Notary Public in and for the State of Iowa. 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' . , ' ' • ' . . • . ; me.arifeana.o.• manta . . • . . t • • , • -• • . . ....-..... -... . . . _ - . . . • oc, • *0 c_ 0-‹ satiMla -^ I i ....` -<r- - f'il m .•-•,,, = •. > _= ..= END OF CASE FILE 11111 CIVIL PROCESS WORKSHEET JOHNSON COUNTY SHERIFFS OFFICE• PO BOX 2540, 511 S CAPITOL ST, IOWA CITY, IA 52244-2540 • (319) 356-6030 PLAINTIFF: COUNTRYWIDE HOME LOANS,INC Docket No 108-02657 State 'IOWA 1 vs. Court No EQCV068965 j County [JOHNSON DEFENDANT: TIAO,WINSTON W Ref No J Received [05/05/2008 Requestor(s) Phone HOPKINS,BENJAMIN W (515) 222-9400 Name CITY OF IOWA CITY,IOWA 1 A-ivt iQt'� " Party Type DEFENDANT Address 410 E WASHINGTON ST 1 !IOWA CITY IA 52240- Phone E-Mail Fax Employer Zone Comments — — -- - j Documents Document Serve by Date OE PSR Description/Special Instructions ORIGINAL NOTICE AND PETITION Service Information Attempts Log Date T.me Server Notes Date LS c '4 Time lei co Type Party (net i 4vl 4/7 Relationship C i-f ' C I Qi/IL Race �l Sex � DOB Location Q C ( (,t,,t -f od1 Miles Fee Officer -) Notes: O n D� -< JCil -13 w Printed: Monday, May 05,2008 Page 1 of 1 25146 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY COUNTRYWIDE HOME LOANS, 13-2641992 : INC. EQUITY NO. EQCV068965 Plaintiff, : AMENDED ORIGINAL NOTICE vs. WINSTON W. TIAO; CITY OF IOWA CITY, IOWA; • MIN-HUA TIAO; Defendants. : TO THE ABOVE NAMED DEFENDANTS: You are notified there is a petition now on file in the office of the clerk of the above court. A copy of this filing is attached hereto. The Plaintiff' s attorneys are Petosa, Petosa & Boecker, L. L. P. , by Benjamin W. Hopkins , whose address is 1350 NW 138th Street, Suite 100, Clive, Iowa 50325-8308 . The Plaintiff' s attorney' s phone number is (515) 222-9400, with a facsimile transmission number of (515) 222-9121 . You must serve a motion or answer, within 20 days after service of this original notice upon you and within a reasonable time thereafter file, a motion or answer, in the Iowa District Court of Johnson County, at the county courthouse in Iowa City, Iowa. If you do not, judgment by default may be rendered against you for the relief demanded in the petition. If you require the assistance of auxiliary aids or services to participate in court because of a disability, immediately call your district ADA coordinator at (3.19) 398-39206 (If you are hearing impaired, Call Relay Iowa TTY at 1-800-735-2942) . I,O,�D�F;MQ,BE EY _ �L' ,� Cl of the Above Court Johnson County Courthouse Iowa City, Iowa 522442510 YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTEQSTS. y7-3 r Fri . UM (eVr OnLj) CA n_anc- 25146 IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY COUNTRYWIDE HOME LOANS, 13-2641992 : INC. EQUITY NO. EQCV068965 Plaintiff, : AMENDMENT TO PETITION vs. •. C) WINSTON W. TIRO; p,rr, CITY OF IOWA CITY, IOWA; • >7, rrnn u),---- co MIN-HUA TIAO; 0 �:: Defendants . : '-)v co r'j ' COMES NOW, the Plaintiff, and amends its Petition iii rn _ iO he above captioned matter filed January 22, 2008, and for res,on therefore states to the Court: 1 . That the following parties are named as Defendant (s) because they claim some right, title or interest in the Mortgaged Property, including, without limitation a right, title or interest as described below, however such right, title or interest is junior and inferior to the right, title and interest of the Plaintiff: • City of Iowa City, Iowa, $75 . 00 Judgment, dated July 20, 2007, filed July 20, 2007, ICSMSM069038, plus interest and costs 2 . That except as amended herein, Plaintiff' s Petition filed January 22, 2008, is incorporated herein as though fully set forth. ►-J PETOSA, :ETiSA & BOECKER, LU Ir:-p. a EZ 71 By /I MI--S Ben riff Firl ' , s AT000357- ' °I --i 1 �13 I / . " r -et, Site- 140 7 -_ C •wa 50325 830: N �J T- ep one: (515) 2-9400 3::::: _ . csimile: (515) 222-9121 z" ATTORNEYS FOR PLAINTIFF IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY COUNTRYWIDE HOME LOANS, 13-2641992 : INC. EQUITY NO.0 QCd0e fE.S PETITION Plaintiff, : WINSTON W. TIAO; N MIN-HUA TIAO; 1-11 "11 cf) Defendants . : — � j. J ' NOTICE I THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION. THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE COURT A WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND, THE SALE WILL BE DELAYED UNTIL SIX MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS RESIDENCE BUT NOT A ONE-FAMILY OR TWO-FAMILY DWELLING. YOU WILL HAVE NO RIGHT OF REDEMPTION AFTER THE SALE. THE PURCHASER AT THE SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY PURCHASE AT THE SALE. c=am 0 r_a �! 1 Plaintiff, Countrywide Home Loans, Inc. , for its cause of action states : • 1 . That the Plaintiff is a corporation doing business in the United States of America. 2 . That on or about December 26, 2002 , Winston W. Tiao (the "Mortgagor(s) " ) made, executed and delivered to Mortgage Electronic Registration Systems, Inc. , a promissory note in writing for the sum of $151, 905 .00 payable in installments, with interest at 6. 75% per annum from such date (the "Note" ) . A copy of the Note is attached hereto and made a part hereof as Exhibit "A" . 3 . That on or about December 26, 2002 in order to secure the payment of the Note, the Mortgagor(s) made, executed and delivered to Mortgage Electronic Registration Systems, Inc. , a real estate mortgage (the "Mortgage") on the following described real estate (the "Mortgaged Property" ) : y. `Tl rr1 Unit 279, Manchester Condominiums II , according to ={Ri 22 the Declaration of Submission of Property to 0 N Horizontal Property Regime recorded March 5, 2002 in-- Book nyBook 3243, Page 820, Records of the Johnson County Recorder, together with an undivided percentage interest in and to the common areas and facilities appurtenant thereto all as appears of record and on land described in said Declaration as may be amended. the Mortgage was filed for record January 7, 2003, in Book 3454 Page 10 in the Recorder's Office of Johnson County, Iowa. A copy of the Mortgage is attached hereto and made a part hereof as Exhibit "B" . Said mortgage is a Purchase Money Mortgage. 2 4 . That the Mortgaged Property is and at all times relevant hereto was the homestead of the Mortgagor(s) . 5 . That the Plaintiff is currently the holder of record of the Note and Mortgage. 6 . That the Plaintiff is the sole and absolute owner of the Mortgage; that the Note and Mortgage provide that if default be made at any time in payment of any installment of principal or interest, at the election of the Plaintiff, all indebtedness, without notice of such election, shall become immediately due and payable; that the Plaintiff by reason of the failure of the Mortgagor(s) to pay said installments, declares the Note in default, that there is now due and owing the Plaintiff the sum of $144, 001 . 60 with interest at 6. 75% per annum from and including January 1, 2007 plus late fees, attorney fees, abstract expense, protective advances and costs. 7 . That the Plaintiff has given the Mortgagor(s) notice of the right to cure said default and to date has received no response thereto. O m n 1P" 8 . That the time to cure the default under Iowa la "ala [� -� r1 sf -o r.!-t now expired. \ J 9. That said Note and Mortgage provide that if suit ? commenced thereon, Mortgagor(s) will pay reasonable attorneys ' fees . An attorneys ' fee affidavit is attached hereto and made a part hereof as Exhibit "C" . 3 10 . That the Plaintiff now hereby in writing waives any right or claim to a deficiency judgment against the Mortgagor(s) . That the Mortgaged Property is the residence of the Mortgagor(s) and is a one-family or two-family dwelling. The Plaintiff hereby elects to foreclose without redemption and the sale of the Mortgaged Property shall occur promptly after entry of judgment, unless the Mortgagor (s) , pursuant to the Notice set forth above, files a written demand to delay the sale, in which event the sale shall be delayed until six months after entry of judgment . 11 . That the following parties are named as Defendant (s) because they claim some right, title or interest in the Mortgaged Property, including, without limitation a right, title or interest as described below but any such right, title or interest is junior and inferior to the interest of Plaintiff : .� • Min-Hua Tiao, $30, 199. 00 Mortgage, dated March- 1 f 2006, filed March 30, 2006, Book 4005 Page 54A-‹ — n cn - 12 . That the Mortgage provides that any time after 6.42 N proper commencement of an action in foreclosure or during the :- period of redemption, the Court having jurisdiction of the case shall, at the request of the Plaintiff, appoint a receiver to take immediate possession of the Mortgaged Property and of the rents and profits accruing therefrom, to rent the same as he may deem best for the interest of all parties concerned and 4 shall be liable to account to the Mortgagor(s) only for the net profits after application of rents, issues and profits upon the cost of the expense of receivership and foreclosure and the indebtedness, charges and expenses hereby secured and herein mentioned. 13 . That the Defendant, Winston W. Tiao, is a single0 _T1 indivdival . n ct' WHEREFORE THE PLAINTIFF PRAYS THE COURT: N v 1 . That the Plaintiff have judgment in rem against the Mortgaged Property for the amount of unpaid principal and interest on the Note, as provided in the Note and Mortgage and for late fees, attorney fees, abstract expense, protective advances and costs . 2 . That a receiver be appointed immediately to take care of, manage, lease and collect the rents from the Mortgaged Property, and to apply the same in payment of costs and expenses of said receivership, repairs and expenses of said real estate, accrued and accruing taxes and special assessments, insurance premiums, and in partial payment of the judgment to be entered herein. 3 . That said judgment, together with interest, late fees, attorney fees, abstract expense, protective advances, costs and accruing costs be decreed a prior lien upon the Mortgaged Property from the date of the Mortgage, and that all rights, 5 interests and equities of all Defendants to this suit be declared junior to the right, title and interest of the Plaintiff . 4 . That in the event Plaintiff is required to make protective advances, including without limitation, advances for taxes or insurance on the Mortgaged Property, the Plaintiff be given an additional lien thereon for such amounts so advanced, which shall be included in the judgment to be entered herein. 5 . That the Mortgage be foreclosed and the Defendant (s) ' equity of redemption be barred and foreclosed save as guaranteed by law. That special execution issue for the sale the Mortgaged Property to satisfy said judgment, interest, late fees, attorney fees, abstract expense, protective advances and costs . 6 . That special execution issue to satisfy said judgment, interest and attorneys ' fees, and accruing costs herein, and the Mortgaged Property be sold according to law to satisfy the amount due under the Decree issued by this Court and the Defendants herein or anyone claiming by, through or under them, be forever barred and foreclosed of any interest in theO N nr Mortgaged Property, except such rights of redemption as y'n C7`< — provided by law. E20cn m -v f T1 7 . That if the Mortgaged Property is sold and not D redeemed, the Clerk of this Court shall issue to the Sheriff df said County, a writ of removal and possession, commanding him 6 to put the grantee named in the Sheriff ' s deed for said premises sold, or his grantee, in possession thereof, and to remove any Defendants, or persons claiming by, through or under any of them, or any person in possession thereof out of such possession. 8 . That the Plaintiff has elected foreclosure without redemption and the sale of the Mortgaged Property shall occur promptly after entry of judgment or in the alternative, if a written demand for delay is filed, the sale shall occur six months after entry of judgment . 9 . That the Plaintiff be granted such further relief as may be just and equitable. PETOSA, P TOS• . BOECKER, L.L.P. BY ii i Ben,am� iiprippra 00035 13.0 1 . , Su' e 100 Cliv- 503 5-8308 Tel " ' o %r (515) 222-9400 Fa. -imi e : (515) 222-9121 Ar ORNEYS FOR PLAINTIFF O n _i� C) 1 en I fi r_ .� !3 �-; ; Vii-, ru D 7 n, ? - C 0 cr 7; N P,pa,.0 by C.NIBAUn LOAN 8: NOTE DECEMBER 26, 2002 CEDAR RAPIDS IOWA It)n.l [City] ISuhrl 279 MANCHESTER LN, IOWA CITY. IA 52245- lP nperty Address] 1. BORROWER'S PROMISE TO PAY In rent n fora ban that I have received.1 promise 10 pay U.S.S 151,905.00 (this amount is called"Principal"), plus interest,to the order of the Lender.The Lender is COUNTRYWIDE HOME LOANS. INC. I will make all payments under this Note in the form of cash.check or money order. I understand that the Lender may transfer this Note.Thc Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the"Note Holder." 2. INTEREST Interest will be charged on unpaid principal until the full amount of Principal has been paid.I will pay interest at a yearly rate of 6.750 %. The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section 6(B) of this Note. 3. PAYMENTS (A)Time and Place of Payments I will pay principal and interest by making a payment every month. I will make my monthly payment on the F I RST day of each month beginning on FEBRUARY 01, 2003 .I will make these payments every month until 1 have paid all of the principal and interest and any other charges described below that I may owe under this Note.Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal.If,on JANUARY 01. 2033 ,1 still owe amounts under this Note,I will pay those amounts in full on that dale,which is called the"Maturity Date." I will make my monthly payments at P.O. Box 660694, Dallas, TX 75266-0694 ix at a different place if required by the Note Holder. (B)Amount of Monthly Payments My monthly payment will be in the amount of U.S.S 985.25 4. BORROWER'S RIGHT TO PREPAY I have the right to make payments of Principal at any time before they are due.A payment of Principal only is known as a "Prepayment"When I make a Prepayment,I will tell the Note Holder in writing that I am doing so.I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note. I may make a full Prepayment or partial Prepayments without paying a Prepayment charge.The Note Holder will use my Prepayments to reduce the amount of Principal that I owe under this Note.However,the Note Holder may apply my Prepayment to the acemed and unpaid interest on the Prepayment amount,before applying my Prepayment to reduce the Principal amount of the Note.If I make a partial Prepayment,there will be no changes in the due date or in the amount of my monthly payment unless the Note!folder agrees in writing to those changes. 5. LOAN CHARGES If a law,which applies to this loan and which sets maximum loan charges,is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits,then:(a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit and(b)any sums already collected from me which exceeded permitted limits will be refunded to me.The Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a direct payment to me.If a refund reduces Principal,the reduction will be treated as a partial Prepayment 6. BORROWER'S FAILURE TO PAY AS REQUIRED (A)Late Charge for Overdue Payments If the Nae Holder has not received the full amount of any monthly payment by the end of FIFTEEN calendar days after the date it is due,l will pay a late charge to the Nae Holder.The amount of the charge will be 5.000 Yo of my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment . (B)Default If I do not pay the full amount of each monthly payment on the date it is due,I will be in default 1 1 MULTISTATE FIXED RATE NOTE-Single Family-Fannie Mae/Freddle Mae UNIFORM INSTRUMENT notion.WWF EXHIBITRue MOR IGAGE FORMS•16.01S21-7291 cit-5N h02otn CHL(0a/02) Pao*h of? Form 3200 1/01 � 1111111 IIIIIIIIIIIIIIIIIIuII • 2 3 9 9 1 • 0 0 0 2 0 0 5 N • S i f -37 • LOAN B (C)Notice of Default If I am in default,the Note Holder may send mea written notice telling me that if I do not pay the overdue amount by a certain date,the Note Holler may require me to pay immediately the full amount of Principal which has not been paid and all the interest that I owe on that amount That date must be at least 30 days after the date on which the notice is mailed to me or delivered by other means. (D)No Waiver By Note Holder Even if,at a time when I ant in default,the Note Holder does not require me to pay immediately in full as described above, the Note Holder will still have the right to do so if I am in default at a later time. (E)Payment of Note(folder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above,the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law.Those expenses include,for example,reasonable attorneys'fees. 7. GIVING OF NOTICES Unless applicable law requires a different method,any notice that must be given to me under this Note will be given by delivering it or by mailing it by lust class mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first class mail to the Note Holder at the address stated in Section 3(A)above or at a different address if I am given a notice of that different address. S. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note,each person is fully and personally obligated to keep all of the promises made in this Note,including the promise to pay the full amount owed.Any person who is a guarantor,surety or endorser of this Note is also obligated to do these things.Any person who takes over these obligations,including the obligations of a guarantor,surety or endorser of this Note,is also obligated to keep all of the promises made in this Note.The Note Holder may enforce its rights under this Note against each person individually or against all of us together.This means that any one of us may be required to pay all of the amounts owed under this Note. 9. WAIVERS I and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor. "Presentment"means the right to require the Note Holder to demand payment of amounts due-"Notice of Dishonor"means the right to require the Note Holder to give notice to other persons that amounts due have not been paid. 10. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions.In addition to the protections given to the Note Holder under this Note,a Mortgage,Deed of Trust,or Security Deed(the"Security Instrument"),dated the same date as this Note,protects the Note Holder from possible losses which might result if I do not keep the promises which I make in this Note.That Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note.Some of those conditions are described as follows: If all or any part of die Property or any Interest in the Property is sold ix transferred(or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred)without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument However,this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option,Lender shall give Borrower notice of acceleration.The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument.If Borrower fails to pay these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. PAY TO THE ORDER OF WITHOUT RECOURSE couNTRyvvIDE HOME LOANS.INC.. Ie1('t Sorted Nlakan Assistant Secretary WITNESS THE HAND(S)AND SEAL(S)OF THE UNDERSIGNED. /94 (Seal) — (Seal) WINSTON Y TIAO .Bonenver -Borrower (Seal) (Seal) •Borrower -Borrower (Sign Original Only/ ®-•SNto2ort CH1(06/02) negro nt2 Form 32001/Ot JA 0 • • -37 Prepared By: C. NIBAUR COUNTRYWIDE HOME LOANS. INC. 1190 TWIXT TOWN RD NE CEDAR RAPIDS, IA 52402- (319)377-9445 After Recording Return To: COUNTRYWIDE HOME LOANS. INC. MS SV-79 DOCUMENT PROCESSING 1800 Tapo Canyon Simi Valley, CA 93063-6712 (Spare Above This Line For Recording Data) 0002106691055092 (Doc ID f) MORTGAGE M041000157.0001782201-2 DEFINITIONS Words used in multiple sections of this document are defined below and other words are defined in Sections 3, 11,13,18,20 and 21.Certain rules regarding the usage of words used in this document are also provided in Section 16. (A) "Security Instrument" means this document, which is dated DECEMBER 26. 2002 ,together with all Riders to this document. (R)"Borrower"is WINSTON W TIAO, A SINGLE PERSON • Borrower is the mortgagor under this Security Instrument (C)"MERS"is Mortgage Electronic Registration Systems,Inc. MERS is a separate corporation that is acting solely as a nominee for Lender and Lender's successors and assigns. MERS is the mortgagee under this Security Instrument. MERS is organized and existing under the laws of Delaware,and has an address and telephone number of P.O.Box 2026,Flint,MI 48501-2026,tel.(888)679-MERS. IOWA-Single Family-Fannie Mae/Freddie Mac UNIFORM INSTRUMENT WITH MERS 1., Papa 1 of 11 1,111.1,: �/" -6A(IA)WOOS/ CHL(08/00) YMP MORTGAGE FORMS-IA001521-7291 EXHIBIT cONYNA form 3016 1/01 o , aw 111111111111111111111 .. � ' 2 3 9 9 1 • 000 2 0 0 6 A • r' /that thisO "i(!1 )hereby eer.t( „ . iS a[CUA at`r'u cCi'r'�Ct G•;- Ciiii: t�,� DOC ID # 0002106691055092 (D)"Lender"is COUNTRYWIDE HOME LOANS, INC. Lender isa CORPORATION organized and existing under the laws of NEW YORK Lender's address is 4500 Park Granada, Calabasas, CA 91302-1613 (E)"Note" means the promissory note signed by Borrower and dated DECEMBER 26, 2002 .The Note states that Borrower owes Lender ONE HUNDRED FIFTY ONE THOUSAND NINE HUNDRED FIVE and 00/100 Dollars(U.S.$ 151,905.00 ) plus interest Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than JANUARY 01, 2033 • (F)"Property" means the property that is described below under the heading"Transfer of Rights in the Prey (G)"Loan"means the debt evidenced by the Note,plus interest,any prepayment charges and late charges due under the Note,and all sums due under this Security Instrument,plus interest. (II) "Riders" means all Riders to this Security Instrument that are executed by Borrower.The following Riders are to be executed by Borrower(check box as applicable): D Adjustable Rate Rider ®Condominium Rider El Second Home Rider El Balloon Rider a Planned Unit Development Rider Q 1-4 Family Rider El VA Rider Q Biweekly Payment Rider LI Other(s)(specify) (I)"Applicable Law"means all controlling applicable federal,state and local statutes,regulations,ordinances and administrative rules and orders(that have the effect of law)as well as all applicable final,non-appealable judicial opinions. (.1)"Community Association Dues,Fees,and Assessments"means all dues,fees,assessments and other charges that are imposed on Borrower or the Property by a condominium association,homeowners association or similar organization. (K)"Electronic Funds Transfer"means any transfer-of funds,other than a transaction originated by check, draft,or similar paper instrument,which is initiated through an electronic terminal,telephonic instrument, computer,or magnetic tape so as to order,instruct,or authorize a financial institution to debit or credit an account.Such term includes,but is not limited to.point-of-sale transfers,automated teller machine transactions, transfers initiated by telephone,wire transfers,and automated clearinghouse transfers. (L)"Escrow Items"mean those items that are described in Section 3. (M)"Miscellaneous Proceeds"means any compensation,settlement,award of damages,or proceeds paid by any third party(other than insurance proceeds paid under the coverages described in Section 5)for. (i)damage to,or destruction of,the Property;(ii)condemnation or other taking of all or any part of die conveyance in lieu of condemnation; or iv m' Property;ue (iii) ( ) isrepresentations of, or omissions as to, the value and/or condition of the Property. (N)"Mortgage Insurance"means insurance protecting Lender against the nonpayment of,or default on,the Loan. (0)"Periodic Payment"means the regularly scheduled amount due for(i)principal and interest under the Nae,plus(ii)any amounts under Section 3 of this Security Instrument (P) "RESPA" means the Real Estate Settlement Procedures Act(12 U.S.C.Section 2601 et seq.)and its implementing regulation,Regulation X(24 C.F.R.Part 3500),as they might be amended from time to time,or any additional or successor legislation or regulation that governs the same subject matter.As used in this Security Instrument,'RESPA" refers to all requirements and restrictions that are imposed in regard to a 'federally related mortgage loan'even if the Loan does not qualify as a'federally related mortgage ban'under RESPA. (Q)"Successor in Interest of Borrower"means any party that has taken title to the Property,whether of not that party has assumed Borrower's obligations under the Note and/or this Security Instrument TRANSFER OF RIGHTS IN THE PROPERTY This Security Instrument secures to Lender.(i)the repayment of the Loan,and a0 renewals,extensions and modifications of the Now and (i) the performance of Borrower's covenants and agreements under this Security Instrument and the Note.For this purpose,Borrower irrevocably mortgages.grants and conveys to MERS(solely as nominee for Lender and Lender's successors and assigns)and to the successors and assigns of MERS,with power of sale,the following described property located in the COUNTY of JOHNSON (Type of Recording lumdiciionl )Name of Rcc«din{luri.diaiml 6A IA Mxtairlf �I' ( )moos) CHL Ina/00) P.t.a of in Form 3016 clot Q � n s rj i DOC IO # 0002106691055092 Unit 279, Manchester Condominiums II, according to the Declaration of Submission of Property to Horizontal Property Regime recorded March 5, 2002 in Book 3243, Page 820, Records of the Johnson County Recorder, together with an undivided percentage interest in and to the common areas and facilities appurtenant thereto all as appears of record and on land described in said Declaration as may be amended. Parcel ID Number:0907458002 which currently has the address of 279 MANCHESTER IN. IOWA CITY lStreeuciuuI Iowa 52245- ("Property Address"): Zip Codel TOGETHER WITH all the improvements now or hereafter erected on the property,and all easements, appurtenances,and fixtures now or hereafter a part of the pruputy.All replacements and additions shall also be covered by this Security Instrument.All of the foregoing is referred to in this Security Instrument as the "Property" Borrower understands and agrees that MERS holds only legal title to the interests granted by Borrower in this Security Instrument,but,if necessary to comply with law or custom,MERS(as nominee for Lender and Lender's successors and assigns)has the right to exercise any or all of those interests,including, but not limited to,the right to foreclose and sell the Property;and to take any action required of Lender including,but not limited to,releasing and canceling this Security Instrument BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered,except for encumbrances of record.Borrower warrants and will defend generally the tide to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS.Borrower and Lender covenant and agree as follows: t.Payment of Principal,Interest,Escrow Items,Prepayment Charges,and Late Charges.Borrower shall pay when due the principal of,and interest on,the debt evidenced by the Note and any prepayment charges and late charges due under the Note.Borrower shall also pay funds for Escrow Items pursuant to Section 3.Payments due under the Note and this Security Instrument shall be made in U.S.currency.However, if any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid,Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made in one or more of the following forms,as selected by lender(a)cash:(b)money order,(c)certified check,bank check,treasurer's check or cashier's check,provided any such check is drawn upon an institution whose deposits are insured by a federal agency,instrumentality,or entity;or(d)Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15.Lender may return any payment or partial payment if the payment or partial payments are insufficient to bring the Loan current Lender may accept any payment or partial payment insufficient to bring the Loan current,without waiver of any rights hereunder or prejudice to its rights to refuse such payment or cranial payments in the future,but Lender is not obligated to apply such payments at the time such payments are accepted.If each Periodic Payment is applied as of its scheduled due date,then Lender need not pay interest on unapplied funds. Lender may hold such unapplied funds until Borrower makes payment to bring the Loan current If Borrower does not do so within a reasonable period of time,Lender shall either apply such funds or return them to Borrower.If not applied earlier,such funds will be applied to the outstanding principal balance under the Note immediately prior to foreclosure.No offset or claim which Borrower might have now or in the future against Lender shall relieve Bonower from making payments due under the Nae and this Security Instrument or performing die covenants and agreements secured by this Security Instrument 2.Application of Payments or Proceeds.Except as otherwise described in this Section 2,all payments accepted and applied by Lender shall be applied in the following order of priority: (a)interest due under the Note:(b)principal due under the Note;(c)amounts due under Section 3.Such payments shall be applied to each Periodic Payment in the order in which it became due.Any remaining amounts shall be applied first to late charges,second to any other amounts due under this Security Instrument,and then to reduce the principal balance of the Note. 6A IA l° 0' 4 ( 1 WOOS) CML(08/001 Pp.a uh,h Form 016 1101 • � r DOC ID 0002106691055092 If Lender receives a payment from Borrower for a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due,the payment may be applied to the delinquent payment and the late charge.If more than one Periodic Payment is outstanding,Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if,and to the extent that,each payment can be paid in fulL To the extent that any excess exists after the payment is applied to the full payment of one or more Periodic Payments,such excess may be applied to any late charges due.Voluntary prepayments shall be applied first to any prepayment charges and then as described in the Note. Any application of payments,insurance proceeds,or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the due date,or change the amount,of the Periodic Payments. 3.Funds for Escrow Items.Borrower shall pay to Lender on the day Periodic Payments are due under the Note,until the Note is paid in full,a sum(the'Funds")to provide for payment of amounts due for.(a) taxes and assessments and other items which can attain priority over this Security Instrument as a lien or encumbrance on the Property;(b)leasehold payments or ground rents on the Property,if any;(c)premiums for any and all insurance required by Lender under Section 5;and(d)Mortgage Insurance premiums,if any,or any sums payable by Borrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10.These items are called"Escrow hems."At origination or at any time during the tum of die Loan,Lender may require that Community Association Dues,Fees,and Assessments,if any,be escrowed by Borrower,and such dues,fees and assessments shall be an Escrow Item.Borrower shall promptly furnish to Lender all notices of amounts to be paid under this Section.Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow Items. Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time.Any such waiver may only be in writing.In the event of such waiver,Borrower shall pay directly,when and where payable,the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and,if Lender requires,shall furnish to Lender receipts evidencing such payment within such time period as Lender may require.Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed to be a covenant and agreement contained in this Security Instrument,as the phrase"covenant and agreement"is used in Section 9.If Borrower is obligated to pay Escrow Items directly,pursuant to a waiver, and Borrower fails to pay the amount due for an Escrow Item,Lender may exercise its rights under Section 9 and pay such amount and Borrower shall then be obligated under Section 9 to repay to Lender any such amount Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and,upon such revocation,Borrower shall pay to Lender all Funds,and in such amounts,that are then required under this Section 3. Lender may,at any time,collect and hold Funds in an amount(a)sufficient In permit lender to apply the Funds at die time specified under RESPA,and(b)not to exceed the maximum amount a lender can require under RESPA.Lender shall estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. The Funds shall be held in an institution whose deposits are insured by a federal agency,instrumentality, or entity(including Lender,if Lender is an institution whose deposits arc so insured)or in any Federal Home Loan Bank.Lender shall apply the Funds to pay the Escrow Items no later tun the time specified under RESPA.Lender shall not charge Borrower for holding and applying the Funds,annually analyzing the escrow account,or verifying the Escrow Items,unless Lender pays Borrower interest on the Funds and Applicable Law permits Lender to make such a charge.Unless an agreement is made in writing or Applicable Law requires interest to be paid on the Funds,Lender shall not be required to pay Borrower any interest or earnings on the Funds.Borrower and Lender can agree in writing,however,that interest shall be paid on the Funds.Lender shall give to Borrower,without charge,an annual accounting of the Funds as required by RESPA. If there is a surplus of Funds held in escrow,as defined under RESPA,Lender shall account to Borrower for die excess funds in accordance with RESPA.If there is a shortage of Funds held in escrow,as defined under RESPA.Lender shall notify Borrower as required by RESPA,and Borrower shall pay to Lender the amount necessary to make up the shortage in accordance with RESPA,but in no more than 12 monthly payments. If there is a deficiency of Funds held in escrow,as defined under RESPA,lender shall notify • Borrower as required by RESPA,and Borrower shall pay to Lender the amount necessary to make up the deficiency in accordance with RESPA,but in no more than 12 monthly payments. Upon payment in full of all sums secured by this Security Instrument,Lender shall promptly refund to Borrower any Funds held by Lender. 4.Charges;Liens.Borrower shall pay all taxes,assessments,charges,fines,and impositions attributable to the Property which can attain priority over this Security Instrument,leasehold payments or ground rents on the Property,if any,and Community Association Dues,Fees,and Assessments,if any.To the extent that these items are Escrow Items,Borrower shall pay them in the manner provided in Section 3. Borrower shall promptly discharge any lien which has priority over this Security Instrument unless Borrower:(a)agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to Lender,but only so king as Borrower is performing such agreement;(b)contests the lien in good faith by,or defends against enforcement of the lien in,legal proceedings which in Lender's opinion operate to prevent the enforcement of the lien while those proceedings are pending,but only until such proceedings are concluded;or (c)secures fmm the holder of the lien an agreement satisfactory to Lender subordinating the lien to this Security InstnaoenL If Lender determines that any pan of the Property is subject in a lien'w..hicch can attain 11A IA hnalru:tr�11 ®e ( ►moist cRL(011/00► r.rrrahht Form o 1 rm3016 von Vi � t-1 1 c DOC 10 # 0002106691055092 priority over this Security Instrument,Lender may give Borrower a notice identifying the lien.Within 10 days of the date on which that notice is given,Borrower shall satisfy the lien or lake one or more of the actions set forth above in this Section 4. Lender may require Borrower to pay a one-time charge for a real estate tax verification and/or reporting service used by Lender in connection with this Loan. 5.Property Insurance.Borrower shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire,hazards included within the term-extended coverage,"and any other hazards including, but not limited to,earthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts(including deductible levels)and for the periods that Lender requires.What Lender requires pursuant to the preceding sentences can change during the term of the Loan. The insurance carrier providing the insurance shall be chosen by Borrower subject to Lender's right to disapprove Borrower's choice,which right shall not be exercised unreasonably.Lender may require Borrower to pay,in connection with this Loan,either.(a)a one-time charge for flood zone determination,certification and tracking services;or(b)a one-time charge for flood zone determination and certification services and subsequent charges each time remappings or similar changes occur which reasonably might affect such determination or certification.Borrower shall also be responsible for the payment of any fees imposed by the Federal Emergency Management Agency in connection with the review of any flood zone determination resulting from an objection by Borrower. If Borrower fails to maintain any of the coverages described above, Lender may obtain insurance coverage,at Lender's option and Borrower's expense.Lender is under no obligation to purchase any particular type or amount of coverage.Therefore,such coverage shall cover Lender,but might or might not protect Borrower,Borrower's equity in the Property,or the contents of the Property,against any risk,hazard or liability and might provide greater or lesser coverage than was previously in effect Borrower acknowledges that the cost of the insurance coverage so obtained might significantly exceed die cost of insurance that Borrower could have obtained.Any amounts disbursed by Lender under this Section 5 shall become additional debt of Borrower secured by this Security Instrument These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable,with such interest,upon notice from Lender to Borrower requesting payment All insurance policies required by Lender and renewals of such policies shall be subject to Lender's right to disapprove such policies,shall include a standard mortgage clause,and shall name Lender as mortgagee and/or as an additional loss payee.Lender shall have the right to hold the policies and renewal certificates.If Lender requires,Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices.If Borrower obtains any form of insurance coverage, not otherwise required by Lender, for damage to,or destruction of,the Property,such policy shall include a standard mortgage clause and shall name Lender as mortgagee and/or as an additional loss payee. In the event of loss,Borrower shall give prompt notice to the insurance carrier and Lender.Lender may make proof of loss if not made promptly by Borrower-Unless Lender and Borrower otherwise agree in writing, any insurance proceeds,whether or not the underlying insurance was required by Lender,shall be applied to restoration or repair of the Pnopeaty,if the restoration or repair is economically feasible and Lender's security is not lessened.During such repair and restoration period,Lender shall have the right to hold such insurance proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction,provided that such inspection shall be undertaken promptly.Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as the work is completed.Unless an agreement is made in writing or Applicable Law requires interest to be paid on such insurance proceeds,Lender shall not be required to pay Borrower any interest or earnings on such proceeds. Fees for public adjusters,or other third parties,retained by Borrower shall not be paid out of the insurance proceeds and shall be the sole obligation of Borrower.If the restoration or repair is not economically feasible or Lender's security would be lessened,the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due,with the excess, if any,paid to Borrower. Such insurance proceeds shall be applied in the order provided for in Section 2. If Borrower abandons the Property,Lender may file,negotiate and settle any available insurance claim and related matters.If Borrower does nor respond within 30 days to a notice from Lender that the insurance carrier has offered to settle a claim,then Lender may negotiate and settle the claim.The 30-day period will begin when the notice is given. In either event,or if Lender acquires the Property under Section 22 or otherwise,Borrower hereby assigns to Lender(a)Borrower's rights to any insurance proceeds in an amount not to exceed the amounts unpaid under the Note or this Security Instrument,and(b)any other of Borrower's rights(other than the right to any refund of unearned premiums paid by Borrower)under all insurance policies covering the Property,insofar as such rights are applicable to the coverage of the Property.Lender may use the insurance proceeds either to repair or restore the Property or to pay amounts unpaid under the Note or this Security Instrument,whether or not then due, 6.Occupancy.Borrower shall occupy,establish,and use the Property as Borrower's principal residence within 60 days after the execution of this Security Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy,unless Lender otherwise agrees in writing,which consent shall not be unreasonably withheld,or unless extenuating circumstances exist which are beyond Borrower's control. h•emr:11IFo 421-6A(IA)tuouvl CHI(06/001 v, s•h i h • 0• Form 3016 1l01 r-7 09 Yy DOC II) # 0002106691055092 7.Preservation,Maintenance and Protection of the Property;Inspections.Borrower shall not destroy, damage or impair the Property,allow the Property to deteriorate or commit waste on the Property.Whether or not Borrower is residing in the Property,Borrower shall maintain the Property in order to prevent the Property from deteriorating or decreasing in value due to its condition.Unless it is determined pursuant to Section 5 that repair or restoration is not economically feasible,Borrower shall promptly repair the Property if damaged to avoid further deterioration or damage.If insurance or condemnation proceeds are paid in connection with damage to,or the taking of,the Property,Borrower shall be responsible for repairing or restoring the Property only if Lender has released proceeds for such purposes.Lender may disburse proceeds for the repairs and restoration in a single payment or in a series of progress payments as die work is completed.If the insurance or condemnation proceeds are not sufficient to repair or restore the Property, Borrower is not relieved of Borrower's obligation for die completion of such repair or restoration. Lender or its agent may make reasonable entries upon and inspections of the Property.If it has reasonable cause,Lender may inspect the interior of the improvements on the Property.Lender shall give Borrower notice at the time of or prior to such an interior inspection specifying such reasonable cause. 8.Borrower's Loan Application.Borrower shall be in default if,during the Loan application process, Borrower or any persons or entities acting at the direction of Borrower or with Borrower's knowledge or consent gave materially false, misleading,or inaccurate information or statements to Lender (or failed to provide Lender with material information)in connection with the Loan.Material representations include,but are not limited to,representations concerning Borrower's occupancy of the Property as Borrower's principal residence. 9.Protection of Lender's Interest in the Property and Rights Under this Security Instrument.If(a) Borrower fails to perform the covenants and agreements contained in this Security Instrument,(b)there is a legal proceeding that might significantly affect Lender's interest in the Property and/or rights under this Security Instrument (such as a proceeding in bankruptcy, probate, for condemnation or forfeiture, for enforcement of a lien which may attain priority over this Security Instrument or to enforce laws or regulations), or(c)Borrower has abandoned the Property,then Lender may do and pay for whatever is reasonable or appropriate to protect Lender's interest in the Property and rights under this Security Instrument,including protecting and/or assessing the value of the Property,and securing and/or repairing the Property.Lender's actions can include,but are not limited to: (a)paying any sums secured by a lien which has priority over this Security Instrument;(b)appearing in court:and(c)paying reasonable attorneys'fees to protect its interest in die Property and/or rights under this Security Instrument, including its secured position in a bankruptcy proceeding.Securing the Property includes,but is not limited to,entering the Property to make repairs,change locks,replace or board up doors and windows,drain water from pipes,eliminate building or other code violations or dangerous conditions,and have utilities turned on or off_Although Lender may take action under this Section 9,Lender does not have to do so and is not under any duty or obligation to do so.It is agreed that Lender incurs no liability for not taking any or all actions authorized under this Section 9. Any amounts disbursed by Lender under this Section 9 shall become additional debt of Borrower secured by this Security Instrument These amounts shall bear interest at the Note rate from the date of disbursement and shall be payable,with such interest,upon notice from Lender to Borrower requesting payment. If this Security Instrument is on a leasehold,Borrower shall comply with all the provisions of the lease.If Borrower acquires fee title to the Property,the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. l0.Mortgage Insurance.If Lender required Mortgage Insurance as a condition of making the Loan, Borrower shall pay the premiums required to maintain the Mortgage Insurance in effect.If,for any reason,the Mortgage Insurance coverage required by Lender craws to be available from the mortgage insurer that previously provided such insurance and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect,at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect,from an alternate mortgage insurer selected by Lender.If substantially equivalent Mortgage Insurance coverage is not available,Borrower shall continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage traced to be in effect.Lender will accept,use and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance.Such loss reserve shall be non-refundable,notwithstanding the fact that the Loan is ultimately paid in full,and Lender shall not be required to pay Borrower any interest or earnings on such loss reserve.Lender can no longer require loss reserve payments if Mortgage Insurance coverage(in the amount and for the period that Lender requires)provided by an insurer selected by Lender again becomes available,is obtained,and Lender requires separately designated payments toward the premiums forMortgage Insurance.If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower shall pay the premiums required to maintain Mortgage Insurance in effect,or to provide a non-refundable loss reserve,until Lender's requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section II)affects Borrower's obligation to pay interest at the rate provided in the Note. Mongage Insurance reimburses Lender(or any entity that purchases the Note)for certain losses it may incur if Borrower does not repay the Loan as agreed.Borrower is not a party to the Mortgage Insurance. Inmak. rT (0).-66(1A)(60135) CHL(06/00) vapor oh 11 Form 3016 1101 to 1. CCS �l DOC 10 # 0002106691055092 Mortgage insurers evaluate their total risk on all such insurance in force from time to time,and may enter into agreements with other parties that share or modify their risk,or reduce losses.These agreements are on terms and conditions that are satisfactory to the mortgage insurer and the other party(or parties)to these agreements.These agreements may require the mortgage insurer to make payments using any source of funds that the mortgage insurer may have available(which may include funds obtained from Mortgage Insurance premiums). As a result of these agreements,Lender,any purchaser of the Note,another insurer,any reinsurer,any other entity,or any affiliate of any of the foregoing,may receive(directly or indirectly)amounts that derive from(or might be characterized as)a portion of Borrower's payments for Mortgage Insurance,in exchange for sharing or modifying the mortgage insurer's risk,or reducing losses. If such agreement provides that an affiliate of Lender takes a share of the insurer's risk in exchange for a share of the premiums paid to the insurer,the arrangement is often termed"captive reinsurance."Further (a)Any such agreements will not affect the amounts that Borrower has agreed to pay for Mortgage Insurance,or any other terms of the Loan.Such agreements will not increase the amount Borrower will owe for Mortgage insurance,and they will not entitle Borrower to any refund. (b) Any such agreements will not affect the rights Borrower has- if any- with respect to the Mortgage Insurance under the Homeowners Protection Act of 1998 or any other law.These rights may include the right to receive certain disclosures, to request and obtain cancellation of the Mortgage Insurance,to have the Mortgage Insurance terminated automatically,andlor to receive a refund of any Mortgage Insurance premiums that were unearned at the time of such cancellation or termination. II.Assignment of Miscellaneous Proceeds;Forfeiture.All Miscellaneous Proceeds are hereby assigned to and shall be paid to Lender. If the Property is damaged,such Miscellaneous Proceeds shall be applied to restoration or repair of the Properly,if the restoration or repair is economically feasible and Lender's security is not lessened.During such repair and restoration period,Lender shall have the right to hold such Miscellaneous Proceeds until Lender has had an opportunity to inspect such Property to ensure the work has been completed to Lender's satisfaction, provided that such inspection shall be undertaken promptly.Lender may pay for the repairs and restoration in a single disbursement or in a series of progress payments as the work is completed.Unless an agreement is made in writing or Applicable Law requires interest to be paid on such Miscellaneous Proceeds,Lender shall not be required to pay Borrower any interest or earnings on such Miscellaneous Proceeds.If the restoration or repair is not economically feasible or Lender's security would be lessened,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument,whether or not then due,with the excess,if any,paid to Borrower.Such Miscellaneous Proceeds shall be applied in the order provided for in Section 2. In die event of a total taking,destruction,or loss in value of the Property,the Miscellaneous Proceeds shall be applied to die sums secured by this Security Instrument,whether or not then due,with the excess,if any,paid to Borrower. In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking,destruction,or kiss in value is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the partial taking,destruction,or loss in value,unless Borrower and Lender otherwise agree in writing,the sums secured by this Security Instrument shall be reduced by the amount of the Miscellaneous Proceeds multiplied by the following fraction: (a)the total amount of die sums secured immediately before the partial taking,destruction,or loss in value divided by(b)the fair market value of the Prop.ny immediately before the partial taking,destruction,or loss in value.Any balance shall be paid to Borrower. In the event of a partial taking,destruction,or loss in value of the Property in which the fair market value of the Property immediately before the partial taking,destruction,or loss in value is less than the amount of the sums secured immediately before the partial taking,destruction,or loss in value,unless Borrower and Lender otherwise agree in writing,the Miscellaneous Proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due, If the Property is abandoned by Borrower,or if,after notice by Lender to Borrower that the Opposing Party(as defined in the next sentence)offers to make an award to settle a claim for damages,Borrower fails to respond to Lender within 30 days after the date the notice is given,Lender is authorized to collect and apply the Miscellaneous Proceeds either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. "Opposing Party" means the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall be in default if any action or proceeding, whether civil or criminal,is begun that,in Lender's judgment,could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument.Borrower can cure such a default and,if acceleration has occurred,reinstate as provided in Section 19,by causing the action or proceeding to be dismissed with a ruling that,in Lender's judgment,precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that arc attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. INVIT C1:0.-aatta)(0005) CUL(06/00) Par.r.e re Form 3016 1/01 A 1 � \ DOC IO # 0002106691055092 IL Borrower Not Released;Forbearance By Lender Not a Waiver.Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower-Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower.Any forbearance by Lender in exercising any right or remedy including, without limitation.Lender's acceptance of payments from third persons,entities or Successors in Interest of Borrower or in amounts less than the amount then due,shall not be a waiver of or preclude the exercise of any right or remedy. 13.Joint and Several Liability;Co-signers;Successors and Assigns Bound.Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several.However,any Borrower who co-signs this Security Instrument but does not execute the Note(a"co-signal:(a)is co-signing this Security Instrument only to mortgage,grant and convey the co-signer's interest in the Property under the terms of this Security Instrument:(b)is not personalty obligated to pay the sums secured by this Security Instrument;and(c)agrees that Lender and any other Borrower can agree to extend,modify,forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18,any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing,and is approved by Lender,shall obtain all of Borrower's rights and benefits under this Security Instrument.Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing.The covenants and agreements of this Security Instrument shall bind(except as provided in Section 20)and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument,including,but not limited to,attorneys'fors,property inspection and valuation fees.In regard to any other fees,the absence of express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee.Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges,and that law is finally interpreted so that the interest or other ban charges collected or to be collected in connection with the Loan exceed the permitted limits,then:(a)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit;and(b)any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower.Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower.If a refund reduces principal,the reduction will be treated as a partial prepayment without any prepayment charge(whether or not a prepayment charge is provided for under the Note).Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. IS.Notices.All notices given by Borrower or Lender in connection with this Security Instrument must be in writing.Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise.The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender.Borrower shall promptly notify Lender of Borrower's change of address.If Lender specifies a procedure for reporting Borrower's change of address,then Borrower shall only report a change of address through that specified procedure.There may be only one designated notice address under this Security Instrument at any one time.Any notice to Lender shall be given by delivering it or by mailing u by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower.Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lender.If any notice required by this Security Instrument is also required under Applicable Law,the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument 16.Governing Law;Severability;Rules of Construction.This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located.All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent,but such silence shall not be construed as a prohibition against agreement by contract'In the event that any provision or clause of this Security Instrument or the Note conflicts with Applicable Law,such conflict shall not affect other provisions of this Security Instrument or the Note which can be given effect without the conflicting provision. As used in this Security Instrument (a) words of the masculine gender shall mean and include corresponding neuter words or words of the feminine gender,(b)words in the singular shall mean and include the plural and vice versa;and(c)the word may gives sole discretion without any obligation to take any action. 17.Borrower's Copy.Borrower shall be given one copy of the Note and of this Security Instrument. 6A IA Mau.h: �m ( )moos! CHL(08/00) P.y.n od n Fo 3016 I/01 cp N 0 7— T � • DOC ID # 0002106691055092 18.Transfer of the Property or a Beneficial Interest in Borrower.As used in this Section 18,'Interest in the Properly"means any legal or beneficial interest in the Property,including,but not limited to,those beneficial interests transferred in a bond for deed,contract for deed,installment sales contract or escrow agreement,the intent of which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Property is sold or transferred(or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred)without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However,this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option,Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument If Borrower fails to pay these sums prior to the expiration of this period,Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 19.Borrower's Right to Reinstate After Acceleration.If Borrower meets certain conditions,Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest of(a)five days before sale of the Property pursuant to any power of sale contained in this Security Instrument; (b)such other period as Applicable Law might specify for the termination of Borrower's right to reinstate;or (c)entry of a judgment enforcing this Security Instrument.Those conditions are that Borrower.(a)pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred;(b) cures any default of any other covenants or agreements;(c)pays all expenses incurred in enforcing this Security Instrument,including,but not limited to,reasonable attorneys'fees,property inspection and valuation fees,and other fees incurred for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument;and(d)takes such action as Lender may reasonably require to assure that Lender's interest in the Property and rights under this Security Instrument,and Borrower's obligation to pay the sums secured by this Security Instrument,shall continue unchanged.Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following looms,as selected by Lender.(a)cash; (b)money order;(c)certified check,bank check,treasurer's check or cashier's check,provided any such check is drawn upon an institution whose deposits are insured by a federal agency,instrumentality or entity;or(d) Electronic Funds Transfer.Upon reinstatement by Borrower,this Security Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occurred.However,this right to reinstate shall not apply in the case of acceleration under Section 18. 20.Sale of Note;Change of Loan Servicer;Notice of Grievance.The Note or a partial interest in the Note(together with this Security Instrument)can be sold one or more times without prior notice to Borrower. A sale might result in a change in the entity(known as the"Loan Servicer")that collects Periodic Payments due under the Note and this Security Instrument and performs other mortgage loan servicing obligations under the Note,this Security Instrument,and Applicable Law.There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note.If there is a change of the Loan Servicer,Borrower will be given written notice of the change which will state the name and address of the new Loan Servicer,the address to which payments should be made and any other information RESPA requires in connection with a notice of transfer of servicing.If the Note is sold and thereafter the Loan is serviced by a Loan Servicer other than the purchaser of the Note,the mortgage loan servicing obligations to Borrower will remain with the Loan Servicer or be transferred to a successor Loan Servicer and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser. Neither Borrower nor Lender may commence,join,or be joined to any judicial action(as either an individual litigant or the member of a class)that arises from the other party's actions pursuant to this Security Instrument or that alleges that the other party has breached any provision of,or any duty owed by reason of, this Security instrument,until such Borrower or Lender has notified the other party(with such notice given in compliance with the requirements of Section 15)of such alleged breach and afforded the other party hereto a reasonable period after the giving of such notice to take corrective action.If Applicable Law provides a time period which must elapse before certain action can be taken,that time period will be deemed In be reasonable for purposes of this paragraph.The notice of acceleration and opportunity to cure given to Borrower pursuant to Section 22 and the notice of acceleration given to Borrower pursuant to Section 18 shall be deemed to satisfy the notice and opportunity to take corrective action provisions of this Section 20. 21.Hazardous Substances_As used in this Section 21:(a)"Hazardous Substances"are those substances defined as toxic or hazardous substances,pollutants,or wastes by Environmental law and the following substances:gasoline,kerosene,other flammable or toxic petroleum products,toxic pesticides and herbicides, volatile solvents,materials containing asbestos or formaldehyde,and radioactive materials:(b)"Environmental Law"means federal laws and laws of the jurisdiction where the Property is located that relate to health,safety or environmental protection;(c)"Environmental Cleanup"includes any response action,remedial action,or removal action,as defined in Environmental Law;and(d)an`Environmental Condition"means a condition • that can cause,contribute to,or otherwise trigger an Environmental Cleanup. Borrower shall not cause or permit the presence,use,disposal,storage,or release of any Hazardous Substances,or threaten to release any Hazardous Substances,on or in the Property.Borrower shall not do,nor allow anyone else to do,anything affecting the Property(a)that is in violation of any Environmental Law,(b) which creates an Environmental Condition,or(c)which,due to the presence,use,or release of a Hazardous Substance,creates a condition that adversely affects the value of the Property.The preceding two sentences at- IA 6A hnnhar:_ ( )i000si CHL(o6lOo) Par•9o111 Form 3016 1101 Tc,-5 c\ DOC ID 0 0002106691055092 shall not apply to the presence,use,or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property (including,but not limited to,hazardous substances in consumer products). Borrower shall promptly give Lender written notice of(a)any investigation,claim,demand,lawsuit or other action by any governmental or regulatory agency or private parry involving the Property and any Hazardous Substance or Environmental Law of which Borrower has actual knowledge,(b)any Environmental Condition,including but not limited to,any spilling,leaking,discharge,release or threat of release of any Hazardous Substance,and(c)any condition caused by the presence,use or release of a Hazardous Substance which adversely affects the value of the Property.If Borrower learns,or is notified by any governmental or regulatory authority,or any private party,that any removal or other remediation of any Hazardous Substance affecting the Property is necessary,Borrower shall promptly take all necessary remedial actions in accordance with Environmental Law.Nothing herein shall create any obligation on Lender for an Environmental Cleanup. NON-UNIFORM COVENANTS.Borrower and Lender further covenant and agree as follows: 22.Acceleration; Remedies.Lewder shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under Section 18 unless Applicable Law provides otherwise).The notice shalt specify:(a)the default;(b)the action required to cure the default;(c)a dale,not less than 30 days from the date the notice is given to Borrower,by which the default must be cured;and(d)that failure to cure the default on or before the dale specified in the notice may result in acceleration of the sums secured by this Security Instrument,foreclosure by judicial proceeding and sale of the Property.The notice shall further inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure.If the default is not cured on or before the date specified in the notice,Lender at Its option may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding.Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 22,including,but not limited to,reasonable attorneys'fees and costs of title evidence. 23.Release.Upon payment of all sums secured by this Security Instrument,Lender shall release this Security Instrument Lender may charge Borrower a fee for releasing this Security Instrument,but ooly if the fee is paid to a third party for services rendered and the charging of the fee is permitted under Applicable Law. 24.Waivers.Borrower relinquishes all right of dower and waives all right of homestead and distributive share in and to the Property.Borrower waives any right of exemption as to the Property. 25. HOMESTEAD EXEMPTION WAIVER. I UNDERSTAND THAT HOMESTEAD PROPERTY IS IN MANY CASES PROTECTED FROM THE CLAIMS OF CREDITORS AND EXEMPT FROM JUDICIAL SALE; AND THAT BY SIGNING THIS MORTGAGE, I VOLUNTARILY GIVE UP MY RIGHT TO THIS PROTECTION FOR THIS MORTGAGED PROPERTY WITH RESPECT TO CLAIMS BASED UPON THIS MORTGAGE /614A7sh !AJ 1 atoll/oma Borrower VIKTOR Y 11 Date Borrower Dam Borrower D.¢ Borrower Dave 26.Redemption Period.If the Property is less than 10 acres in size and Lender waives in any foreclosure proceeding any right to a deficiency judgment against Borrower,the period of redemption from judicial sale shall be reduced to 6 months.If the court finds that Bre Property has been abandoned by Borrower and Lender waives any right to a deficiency judgment against Borrower,the period of redemption from judicial sale shall be reduced to 60 days.The provisions of this Section 26 shall be construed to conform to the provisions of Sections 628.26 and 628.27 of the Code of Iowa. C).-skin)MOOS) CHI.(01000) P.r.,o en I, Form 3016 1/01 LO nA ) 2 DOC ID A 0002106691055092 IMPORTANT: READ BEFORE SIGNING.THE TERMS OF THIS AGREEMENT SHOULD BE READ CAREFULLY BECAUSE ONLY THOSE TERMS IN WRITING ARE ENFORCEABLE. NO OTHER TERMS OR ORAL PROMISES NOT CONTAINED IN THIS WRITTEN CONTRACT MAY BE LEGALLY ENFORCED. YOU MAY CHANGE THE TERMS OF THIS AGREEMENT ONLY BY ANOTHER WRITTEN AGREEMENT. BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any Rider executed by Borrower and recorded with / /?1/ seal) Y 65106 Y TIAO -Borrower • (Seal) -Borrower (Seal) -Borrower (Seal) Borrower STATE OF IOWA, County ss: On this aG 7� day of ,before me,a Notary Public in the State of Iowa personally appeared (.v;N S j ) TI•Q 0 0.s l n1 Q e.4 sdYl to me personally known to be the person(s)named in and who executed the foregoing instrument,and acknowledged that he/shehhey executed the same as his/her/their voluntary act and deed. My Commission Expires: —/kir Q Notary Public in and for said County and State MAK ASUMAN taolarla or,utdastO^/7773 �- 1A!Commission Epp8es Cpm 6A(IA(latest CHI_(08100) pap.11 0111 Form 3016 1101 v 7 s .13 • (Space Above This Line For Recording Datal CONDOMINIUM RIDER After Recording Return To: COUNTRYWIDE HOME LOANS. INC. MS SV-79 DOCUMENT PROCESSING 1800 Tapo Canyon Simi Valley. CA 93063-6712 Prepared By: C. NIBAUR COUNTRYWIDE HOME LOANS. INC. 1190 TWIXT TOWN RD NE CEDAR RAPIDS. IA 52402- (319)377-9445 0002106691055092 (Ooc ID /) THIS CONDOMINIUM RIDER is made this TWENTIETH day of DECEMBER. 2002 ,and is incorporated into and shall be deemed to amend and supplement the Mortgage,Deed of Trust,or Security Deed (the "Security Instrument") of die same date given by the undersigned (the "Borrower") to secure Borrower's Note to COUNTRYWIDE HOME LOANS. INC. (the"Lender")of the same date and covering the Property described in the Security Instrument and located at: 279 MANCHESTER LN, IOWA CITY. IA 52245- trropcny Addmssl MULTISTATE CONDOMINIUM RIDER-Single Family-Fannie Mae/Freddie Mae UNIFORM INSTRUMENT Page 1 o13 Initials: -8R(0008).02 CHL(12/01) VMP MORTGAGE FORMS.(800)521-7291 Form 314 1/01 CONV/VA 1111111 iJIIIIIIIIIlIfl 2 3 9 9 1 • 3 0 2 0 0 8 R • "t hereby certify that this is a tri.':ic correct copy of the to d s (C\ cr • DOC ID # 0002106691055092 The Property includes a unit in,together with an undivided interest in the common clenents of,a condominium project known as: MANCHESTER CONDOS PHASE II (Name of Condominium Projenl (the"Condominium Project").If the owners association or other entity which acts for the Condominium Project (the"Owners Association")holds tide to property for the benefit or use of its members or shareholders,the Property also includes Borrower's interest in the Owners Association and the uses,proceeds and benefits of Borrower's interest. CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the Security Inanrmcnt,Borrower and Lender further covenant and agree as follows: A. Condominium Obligations. Borrower shall perform all of Borrower's obligations under the Condominium Project's Constituent Documents.The"Constituent Documents"are the:(i)Declaration or any other document which creates the Condominium Project;(ii)by-laws;(iii)code of regulations;and(iv)other equivalent documents.Borrower shall promptly pay,when due,all dues and assessments imposed pursuant to the Constituent Documents. B.Property Insurance.So long as the Owners Association maintains,with a generally accepted insurance carrier,a"mater'or"blanket"policy on the Condominium Project which is satisfactory to Lender and which provides insurance coverage in the amounts(including deductible levels),for the periods,and against loss by fire, hazards included within the term"extended coverage,"and any other hazards,including,but not limited to, earthquakes and floods,from which Lender requires insurance,then: (i)Lender waives the provision in Section 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property;and (ii)Borrower's obligation under Section 5 to maintain property insurance coverage on the Property is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What Lender requires as a condition of this waiver can change during the term of the loan. Borrower shall give Lender prompt notice of any lapse in required property insurance coverage provided by the master or blanket policy. In the event of a distribution of property insurance proceeds in lieu of restoration or repair following a loss to the Property,whether to the unit or to common elements,any proceeds payable to Borrower arc hereby assigned and shall be paid to Lender for application to the sums secured by the Security Instrument,whether or not then due,with the excess,if any,paid to Borrower. C.Public Liability Insurance.Borrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form,amount,and extent of coverage to Lender. D.Condemnation.The proceeds of any award or claim for damages,direct or consequential,payable to Borrower in connection with any condemnation or other taking of all or any part of the Property,whether of die unit or of the common elements,or for any conveyance in lieu of condemnation,are hereby assigned and shall be paid to Lender.Such proceeds shall be applied by Lender to the sums secured by die Security Instrument as provided in Section 11- F Lender's Prior Consent.Borrower shall not,except after notice to Lender and with Lender's prior writteneonsent,either partition or subdivide the Property or consent to:(i)the abandonment or termination of the Condominium Project,except for abandonment or termination required by law in the arse of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain;(ii)any amendment to any provision of the Constituent Documents if the provision is for the express benefit of Lender; (iii)termination of professional management and assumption of self-management of the Owners Association;or (iv)any action which would have the effect of rendering die public liability insurance coverage maintained by the Owners Association unacceptable to Lender. Initials 0)®8R(0008)02 CHL(12!01) Page 2 of 3 FL/113)110 1101 . r3 4 -yam ci% • DOC ID Q 0002106691055092 F.Remedies.If Borrower does not pay condominium dues and assessments when due,then Lender may pay them.Any amounts disbursed by Lender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument_Unless Borrower and Lender agree to other terms of payment,these amounts shall bear interest from the date of disbursement at the Nae rate and shall be payable,with interest,upon notice from Lender to Borrower requesting payment. BY SIGNING BELOW. Borrower accepts and agrees to the turns and provisions contained in this Condominium Rider. ,�e„� ►� _t9f�� 6a- (Seal) WINSTON W TIAO •Borrower (Seal) -Borrower (Seal) Borrower _(Seal) -Borrower Cp.-811(0008)02 CHI(tzrot) tr.igo s of 3 form 1140 1/01 AFFIDAVIT _ _ STATE OF IOWA SS COUNTY OF POLK ) I, Benjamin W. Hopkins, being first duly sworn on oath depose and state that I am one of the attorneys for the Plaintiff in this cause; that I am a regular practicing attorney engaged in this case; that there has been no agreement, express or implied, between myself and my client, or between myself and any other person except attorneys associated with me in this case, for any sharing or division of the attorney fees to be taxed herein. I further depose and state that true copies of the note and mortgage and any other documents declared upon in the foregoing Petition are now in my actual possession; that I have read the above and foregoing Petition, know the contents thereof, have personal knowledge of the facts therein stated, and that the statements and allegations therein are true as verily believe. Be/. . i /ice.a s AT0003573 Subscribed and sworn to before me t i% a day of January , 2008 . Notary Public in and for thqg State of Iowa EC`s aur, C1�E'.OLYid BMW; ��'• —� .� .. 7 a n ' f C77 ED - m o Exhibit "C" ' ry END OF CASE FILE