Dutrac Community Credit Union vs Michael and kelley Vondal Z Fin 4 City of Dubuque Housing Filed April 12 2001/// y/0 / c l' ' 44t,,y/ YY1a ce
/ 4✓et 4-
IN THE IOWA DISTRICT COURT FOR DUBUQUE COUNTY
DUTRAC COMMUNITY CREDIT UNION,
Plaintiff,
Vs.
No. 01311 EQCV
MICHAEL J. VONDAL; KELLEY M.
VONDAL; Z FIN 4; CITY OF DUBUQUE
HOUSING SERVICES DEPARTMENT;
CITY OF DUBUQUE, IOWA; AND
PARTIES IN POSSESSION, if any,
Defendants.
C
PETITION
COMES NOW, the Plaintiff and for cause of action states:
1. Pursuant to the provisions of Iowa Code Section 654.20, Plaintiff gives
notice as follows:
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-FAMVIILY 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.
2. The Plaintiff is a credit union duly organized and transacting business in
the State of Iowa as set forth herein, and is the owner of the Notes and Mortgages upon
which this action is based; the Defendants are individuals, corporations, or governmental
entities either residing, or doing business in Dubuque County, Iowa.
Page 2 of 5 Pages
3. On or about November 25, 1998, Defendants MICHAEL J. VONDAL and
KELLEY M. VONDAL, husband and wife, made, executed and delivered to the Plaintiff
one certain written Note in the amount of $58,800.00 with interest at the rate of 6.7500%
per annum, a copy of which Note is attached hereto, marked Exhibit "A" and by this
reference incorporated herein. Interest was "adjustable" pursuant to said Note.
4. For the purpose of securing said Note with interest thereon, Defendants,
Defendants MICHAEL J. VONDAL and KELLEY M. VONDAL, husband and wife,
executed and delivered to the Plaintiff one certain written Mortgage, conveying a security
interest to Plaintiff in the following real estate, to -wit:
Lot 22 in Belmont Addition, a Subdivision in the City of Dubuque,
Iowa, according to the recorded plat thereof.
locally known as: 2834 Balke Street, Dubuque, Iowa 52001. Said Mortgage was duly
filed of record in the Office of the Recorder of Dubuque County, Iowa, on December 4,
1998, as Document #19378-98, a copy of which is attached hereto, marked Exhibit "B"
and by this reference incorporated herein.
5. By its terms, said Note is past due and there remains unpaid the principal
sum of $58,148.28, plus interest to April I, 2001 of $2,220.93, plus interest at the agreed
upon rate of 6.7500% (or $10,7534 per diem) from April 1, 2001).
6. On or about November 25, 1998, Defendants MICHAEL J. VONDAL and
KELLEY M. VONDAL, husband and wife, made, executed and delivered to the Plaintiff
a second written Note in the amount of $7,300.00 with interest at the rate of 8.24% per
annum, a copy of which Note is attached hereto, marked Exhibit "C" and by this
reference incorporated herein.
7. For the purpose of securing said second Note with interest thereon,
Defendants MICHAEL J. VONDAL and KELLEY M. VONDAL, husband and wife,
executed and delivered to the Plaintiff a second written Mortgage conveying a second
security interest to Plaintiff in the following real estate, to -wit:
Lot 22 in Belmont Addition, a Subdivision in the City of Dubuque,
Iowa, according to the recorded plat thereof.
locally known as: 2834 Balke Street, Dubuque, Iowa 52001. Said Mortgage was duly
filed of record in the Office of the Dubuque County Recorder on December 4, 1998, as
Document #I9379-98, a copy of which is attached hereto, marked Exhibit "D" and by
this reference incorporated herein.
8. By its terms said second Note is past due and there remains unpaid the
principal sum of $7,259.44, plus interest to April 1, 2001 of $222.38, plus interest at the
agreed rate of 8.24% (or $1.8875 per diem) from April 1, 2001.
Page 3 of 5 Pages
9. Despite timely notice thereto, the Defendants MICHAEL J. VONDAL and
KELLEY M. VONDAL have failed to cure said defaults as per Paragraphs No.5 and 8
above.
10. Plaintiff is willing, and now offers, upon payment of the amounts due as
hereinbefore set forth, to cancel the Notes declared on, discharge of record the Mortgages
securing the same, and to do all things equity and good conscience may require of it.
11. The Plaintiff is informed and believes that the following Defendants may
make some claim of interest in the said real estate for reasons including, but not limited
to, the following, to -wit:
A. "Z Fin 4", 100 Tanglewood Dr., Freeport, IL, by reason of Tax
Sale Register #00, Certificate #0410, regarding 1998-99, paid by
the tax sale, June 19, 2000.
B. City of Dubuque, Iowa, as Plaintiff in Dubuque County
#DUNTWE 617560 vs. Michael Vondal, entered May 19, 2000.
C. City of Dubuque Housing Service Department Lead Paint Hazard
Reduction Program by reason of a Mortgage filed March 23, 2000,
as Dubuque County Instrument #2980-00.
D. Parties In Possession based on claims that my arise out of
possession.
Said claims made by the Defendants are junior, inferior, and subordinate
to the claims of the Plaintiff.
12. The Plaintiff has been made to incur expense in the sum of $95.00 for
abstracting expenses for the mortgage premises, which is the reasonable charge for same
and has incurred and will incur attomey's fees.
13. Plaintiff waives its right to a deficiency judgment herein.
14. The Plaintiff states that whatever liens or interests any Defendant,
individually or collectively, may claim herein, each is junior and inferior to the liens of
the Plaintiff's mortgages, Exhibits "B" and "D", and the amounts hereinbefore set out.
WHEREFORE, Plaintiff prays that:
FIRST: The Court enter an order permitting the Plaintiff to enter the subject
property, secure same, and exercise control thereof in the absence of the Defendants; and
SECOND: Judgment against the mortgage premises in the sum of $60,369.21
with interest at 6.7500% from April 1, 2001 ($10.7534 per day); judgment against the
mortgaged premises in the sum of $7,481.82, with interest at 8.24% from April 1, 2001
Page 4 of 5 Pages
($1.8875 per day); reasonable attorney fees and expenses, and for such additional sums
as may hereinafter be advanced pursuant to said mortgage and for costs; and
THIRD: Judgment confirming Plaintiff's liens upon the mortgage premises from
and after the date of execution of said mortgages, and that said liens be declared prior,
paramount, and superior to all claims or interests of the named Defendants; and
FOURTH: Judgment foreclosing Plaintiff's mortgages, Exhibits "B" and "D",
and that the equities of redemption of the Defendants and of every person or legal entity
claiming by, through or under them, be forever barred and foreclosed, except as
otherwise by law provided; and
FIFTH: An Order be entered providing that a special execution issue for the sale
of the mortgage premises, or so much thereof as may be necessary to satisfy said
Judgments with interest and costs; and
SIXTH: For further order providing that if any part of the mortgage premises be
sold under execution herein and be not redeemed as by law provided from the date of
sale, a Write of Possession issue herein, under seal of this Court directed to the Sheriff of
Dubuque 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; and
SEVENTH: For such other and further relief as the Court may find the Plaintiff
to be entitled to in equity.
DUTRAC COMMUNITY CREDIT
UNION, Plaintiff
By: /5/
James A. Trannel, #DU9004968
Hughes & Trannel, P.C.
1154 Iowa St.
Dubuque, IA 52001
(563)557-7360
Attorney for Plaintiff
STATE OF IOWA
] SS:
DUBUQUE COUNTY ]
I, the undersigned, being first duly sworn and upon oath, depose and state that I
am the attomey for the Plaintiff in the above -entitled cause, that I have in my possession
Page 5 of 5 Pages
the written instruments upon which this cause is based, that I have further learned the
facts constituting the cause of action by investigation of the records appertaining thereto
and by interrogation of the Plaintiff, that I have read the foregoing Petition and am
familiar with the allegations therein contained and the same are true as I verily believe.
Subscribed and sworn to before me this
/5(
(z g day of
James A. Trannel
hip C , 2001.
/5/ Zt,c J &e,rnodn
Notary Public for the State of Iowa
Ti
at
50
DU
iy
EXHIBIT
Sll
Preparedby: GARY H. JAEGER DU TRAC COMMUNITY CREDIT UNION (319) 582-1331
(REFI) .3465 ASBURY ROAD, DUBUQUE, IA 52002
AP# A145062
LN# 145062
[Space Above This Line For Recording Data]
MORTGAGE
THIS MORTGAGE ("Security Instrument") is given on November 25, 1998
MICHAEL J. VONDAL and KELLEY M. VONDAL, HUSBAND and WIFE
("Borrower"). This Security Instrument is given to
DU TRAC COMMUNITY CREDIT UNION, AN IOWA CORPORATION
which is organized and existing under the laws of I OWA
address is 3465 ASBURY ROAD, DUBUQUE, IA 52002
Fifty Eight Thousand Eight Hundred and no/100
. The mortgagor is
, and whose
("Lender"). Borrower owes Lender the principal sum of
Dollars (U.S. $ 58,800.00 ).
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 December 1, 2028
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 DUBUQUE County, Iowa:
Lot 22 in Belmont Addition, a Subdivision in the City of Dubuque, Iowa, according to
the recorded plat thereof
which has the address of 2834 BALKE ST, DUBUQUE
Iowa 52001 [Zip code] ("Property Address");
IOWA-Single Family-FNMA/FHLMC UNIFORM
INSTRUMENT Form 3016 9/90
®-6R(IA) 195061.01 Amended 5/91
VMP MORTGAGE FORMS - 1800)521.7291
Page 1 of 6 MW 06/95.01 Initials:
a
[Street, City],
i
•
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)]
lxi
I I
I
Adjustable Rate Rider
Graduated Payment Rider
Balloon Rider
VA Rider
1
Condominium Rider
Planned Unit Development Rider
Rate Improvement Rider
Other(s) [specify]
1
1-4 Family Rider
Biweekly Payment Rider
Second Home Rider
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:
MICHAEL J. VO AL
(Seal)
-Borrower
kY eM M UI7-7cia-Z (Seal)
K LE ONDAL -Borrower
(Seal) (Seal)
-Borrower -Borrower
STATE OFIOWA, DUBUQUE
County ss:
On this 25th day of November 1998 , before me, a Notary Public in the State of Iowa,
personally appeared MICHAEL J. VONDAL and KELLEY M. VONDAL
, 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 thei r voluntary act and deed
My Commission Expires: May 22, 2001
Ce 6R(IA1
41'p1Ar•
GARY H. JAEGER
MY CAM ISSION EXPIRES
�—a s -,env/
,,,
(95061.01
No a7Publicd for said C
GAP H. JAEGE&.
Page 6 of 8
Form 3016 9/90
•
AP# A145062 LN# 145062
ADJUSTABLE RATE RIDER
(1 Year Treasury Index —Rate Caps)
THIS ADJUSTABLE RATE RIDER is made this 25th day of November, 1998 , 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
Borrower's Adjustable Rate Note (the "Note") to DU TRAC COMMUNITY CREDIT UNION, AN IOWA
CORPORATION (the
"Lender") of the same date and covering the property described in the Security Instrument and located at:
2834 BALKE ST,DUBUQUE,IA 52001
[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
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 6.7500 %. 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 December, 2003 , and on that day
every 12th 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
weekly average yield on United States Treasury securities adjusted to a constant maturity of 1 year, 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 which 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 Two and
Three / Quarters percentage points ( 2.7500 %) 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 8.7500 %
or Tess than 4.7500 %. 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 twelve months. My interest rate will never be greater than 11.7500 %.
MULTISTATE ARM RIDER —ARM 5-2—Single Family—FNMA/FHLMC UNIFORM INSTRUMENT
ISC/CRID**//01 95/3111 (0385)-L Page 1 of 2 Form 3111 3/85
elley M. Vondal
ADDENDUM
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