Claim - Suit Federal Nat'l Mortgage Assn
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IN THE IOWA DISTRICT COURT FOR DUBUQUE COUNTY
FEDERAL NATIONAL
MORTGAGE
ASSOCIATION
52-0883107:
EQUITY NO. EQCV 095159
Plaintiff, :
vs.
AMENDED ORIGINAL
NOTICE
RAYMOND J. WALDBILLIG;
CITY OF DUBUQUE, IOWA;
EQUITY ONE, INC.;
HOUSEHOLD FINANCE
CORPORATION;
HOUSEHOLD FINANCE
INDUSTRIAL LOAN COMPANY
OF IOWA;
,.-....
, I
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 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 thereifter file, a motion or answer, in the Iowa District
Court of Dubuque County, at the county courthouse in Dubuque,
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 (563) 589-4448. (If you
are hearing impaired, Call Relay Iowa TTY at 1-800-735-2942).
Clerk 0
Dubuque C unty Courthouse
Dubuque, Iowa 520041220
YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS.
IN THE IOWA DISTRICT COURT FOR DUBUQUE COUNTY
FEDERAL NATIONAL
MORTGAGE
ASSOCIATION
52-0883107:
EQUITY NO. EQCV 095159
Plaintiff, :
AMENDMENT TO PETITION
vs.
RAYMOND J. WALDBILLIG;
CITY OF DUBUQUE, IOWA;
EQUITY ONE, INC.;
HOUSEHOLD FINANCE
CORPORATION;
HOUSEHOLD FINANCE
INDUSTRIAL LOAN COMPANY
OF IOWA;
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Defendants. :
COMES NOW, the Plaintiff, and amends its Petition in the
above captioned matter filed June 29, 2005, and for reason
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 Dubuque, Iowa, $125.00 Judgment, dated June
9, 2005, filed June 9, 2005, CICV 054964
2 .
That except as amended herein, Plaintiff's Petition
filed June 29, 2005, is incorporated herein as though fully set
forth.
PETOSA, PETOSA & BOECKER, L.L.P.
By /~~~
Theodore R. Boecker PK0000439
1350 NW 138th Street, Suite 100
Clive, Iowa 50325-8308
Telephone: (515) 222-9400
Facsimile: (515) 222-9121
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ATTORNEYS FOR PLAINTIFF
IN THE IOWA DISTRICT COURT FOR DUBUQUE COUNTY
FEDERAL NATIONAL
MORTGAGE
ASSOCIATION
52-0883107:
EQUITY NO.
PETITION
Plaintiff, :
CASE 01311EQ cyo 9.5159
vs.
RAYMOND J. WALDBILLIG;
EQUITY ONE, INC.;
HOUSEHOLD FINANCE
CORPORATION;
HOUSEHO~D FINANCE
INDUSTRIAL LOAN COMPANY
OF IOWA;
Defendants. :
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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 YOG-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.
i
1
Plaintiff, Federal National Mortgage Association, 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 October 18, 1999, Raymond J.
Waldbillig, a single per son, (the "Mortgagor (s) ") made,
executed and delivered to Equity One, Inc., a promissory note
in writing for the sum of $88,000.00 payable in installments,
with interest at 8.49% per annum from such date (the "Note").
A copy of the Note is attached hereto and made a part hereof as
Exhibi t "A".
3. That on or about October 18, 1999 in order to secure
the payment of the Note, the Mortgagor(s) made, executed and
delivered to Equity One, Inc., a real estate mortgage (the
"Mortgage") on the following described real estate (the
"Mortgaged Property") :
Lot 1 of Lot 2 of Lot 1 of Mineral Lot 257, and an
undivided interest in Lot 1 of Lot 2 of Lot 1 of Lot
1 of Lot 1 of Lot 1 of Mineral Lot 257; in the City
of Dubuque, Iowa, according to the recorded Plat
thereof, subject to easements of record.
the Mortgage was filed for record October 22, 1999, in 16418-99
in the Recorder's Office of Dubuque 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.
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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 $98,224.16 with interest at 8.49% per
annum from and including January 1, 2005.
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
now expired.
9. That said Note and Mortgage provide that if suit be
commenced thereon, Mortgagor(s) will pay reasonable attorneys'
fees. An attorneys' fee affidavit is attached hereto and made
a part hereof as Exhibit "C".
1 O. That the Plaintiff now hefreby in wri ting waives any
right or claim to a deficiency judgment against the
3
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:
· Equity One, Inc., $22,000.00 Mortgage, dated October
18, 1999, filed October 22, 1999, 16419-1999
· Household Finance Industrial Loan Company of Iowa,
$24,998.42 Mortgage, dated November 30, 2000, filed
December 4, 2000, 14036-2000
· Household Finance Corporation, $30,096.91 Judgment,
dated November 12, 2002, filed November 12, 2002,
LACV053082, plus interest and costs
· Equity One, Inc., Foreclosure of Mortgage, dated
April 1, 2005, filed April 1, 2005, 01311EQeV094966
12. That the Mortgage provides that any time after the
proper commencement of an actlon 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
4
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.
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 attorneys' fees, abstract expense 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, attorneys'
fees, abstract expense, costs and accruing costs be decreed a
prior lien upon the Mortgaged Property from the date of the
Mortgage, and that all rights, i~ierests and equities of all
5
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 advance
further sums for taxes or insurance premiums on the Mortgaged
Property, the Plaintiff should be given an additional lien
thereon for such amounts so advanced.
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,
attorney fees and costs.
6. That special execution lssue 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
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, iIT'possession thereof, and to
remove any Defendants, or persons claiming by, through or under
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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.
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ATTORNEYS FOR PLAINTIFF
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III \1 11111 III 11 1111 III
169009 1000506272 ;tg
OCTOBER 18, 1999
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NOTE
WEST DES MOINES, IOWA
[Cityl
[SUlle]
2983 PENNSYLVANIA AVENUE, DUBUQUE, IOWA 52001
[Properry Address}
1. BORROWER'S PROMISE TO PAY
In rerum for a loan that I have received. I promise to pay U.S. $
"principal"). plus interest. to the order of the Lender. The Lender is
CORPORATION
I understand that the Lender may transier 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."
8 8 , 0 0 0 . 0 0 (this amount is called
EQUITY ONE, INC., A DELAWARE
2. Th"TEREST
Interest will be charged on unpaid principal until the full amount of principal has been paid. 1 will pay interest at a
yearly rate oi 8.490 %.
The interest rate required by this Section 2 is the rate I will pay both beiore 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 wUl make my monthly payments on the 22nd day of each month beginning on NOVEMBER, 1999
I wi II make these payments every month until r have paid all of the principal and interest and any ower charges described
below that I may owe under this Note. My monthly payments will be applied to interest before principal. If. on
OCTOBER 22, 2029 ..1 still owe amounts under this Note. I will pay those amounts in full on that date,
which is called the "Maturity Date." .
Iwillmakemymonwlypaymentsat 4949 PLEASANT STREET, #205, WEST DES
MOINES f IA 50266 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 ,So $ 676 . 02
4. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal at any time before wey are due. A payment of principal only is known
as a "prepaymeoc". When I make a prepayment, I will tell we Note Holder in writing that I am doing s'o.
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 wis Note. If I make a partial prepayment.
were wilI be no changes io the due date or in the amount of my monthly payment unless the Note Hoider 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 wat the interest or
ower loan charges collected or to be collected in connection with wis loan exceed the pennitted 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 li..ruts will be refunded ro me. The Note Holder may choose to make this
refund by reducing the princip'aJ 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 que. 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. 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 wrinen 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 we date on which we notice is
delivered or mailed ro 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 bave we right to do so ii I am in default at a later time.
(E) Payment of Note Holder's Costs and Expenses
!f the Note Holder has required me to pay immediately in full as described above, l.lte 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' iees.
7. GIVING OF NOTICES
Unless applicable law requires a different me
by delivering it or by mailing it by first class
the Note Holder a notice of my different addr
EXHIBIT
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a'ven to me under this Note will be given
bove or at a different address if I give
=;;;:ATE FIXE~ ~~6"~riitre Family
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Form 3200 12183
Amended !19l
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Any notice that must be given to the Note Holder under t.1is Note will be given by ma[ling 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 co 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. lois means that any
one of us may be required to pay all of the amounts owed under this Note.
9. WAIVERS
I and any otber person who has obligations under this Note waive the rights of presentment and notice of dishonor.
"Presenunent" 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 dne nave not been paid.
10. UNIFORJ'YI SECURED NOTE
This Note is a uniform instrument with limited variations in some jurisdictions. In addition (0 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 r 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:
Transfer of the Property or a Beneficial Interest in Borrower.: If all or any part of (he 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 an 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 d:tte 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 tbis
period. Lender may invoke any remedies permitted by this Security Instrument without further notice or demand
on Borrower.
Borrower has executed and acknowledged rer..eipt of pages 1 and 2 of this Note.
WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED.
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RA_ J LDBILLIG
(Seal)
Borrower
(Seal)
Borrower
(Seal)
Borrower
(Seal)
Borrower
(Seal)
Borrower
(Seal)
Borrower
(Sign Original Only)
MULTlSTATE FIXED RATE NOTE. Sinllle Family - FNMAIFHLMC UNIFOR1\.f INSTRUMENT
"",90153-)/98 4 9 2 3 6 . 116 1.1 P,." ,"
Form 3200 12183
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Prepared by:
Pat Bruns @ Equity One, Inc.
4949 Pleasant Street, #205
West Des Moines, IA 50266
Tel: (515) 223-2322
[Space Above This Line For Recording Data]
MORTGAGE
THIS MORTGAGE ("Security Instrument") is given on OCTOBER 18, 1999 . The mortgagor is
R~YMOND J WALDBILLIG, A SINGLE MAN, AS HIS SOLE AND SEPARAT8 PROPERTY
("Borrower"). This Security Instrument is given to
EQUITY ONE, INC., A DELAWARE CORPORATION
which is organized and existing under the' laws of DELAWARE , and whose address is
4949 PLEl-\SANT STREET, H205, WEST DES MOINES, IA 50266
("Lender"). Borrower owes Lender the principal sum of EIGHTY - EI GHT THOUSJl.ND AND NO /100 --
Dollars (U .S. $ 88, 000 . 00 ). This dcbt is evidenced by Borrowcr'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 OCTOBER 22, 2029 This Security lnstrument 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 hercby mortgage, grant and convey to Lender the following described property located in
DUBUQUE County, Iowa:
LOT 1 OF LOT 2 OF LOT 1 OF MINERAL LOT 257: ~~ MJu~IVIDED INTEREST IN
LOT 1 OF LOT 2 OF LOT 1 OF LOT 1 OF LOT 1 OF LOT 1 OF MINE~~L LOT 257: IN
THE CITY OF DUBUQUE, IOWA, ACCORDING TO THE RECORDED PLAT TH~REOF,
SUBJECT TO EASEMENTS OF RECORD.
which has the address of 2983 PENNSYL VANIA AVENUE, DUBUQUE
(Street)
(City)
Iowa 52001
(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 COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the ri!,hl to
mortgage, grant and convey the Pro[Jerty and that the Property is unencumbered, except for encumbrances of record.
Borrower warrants and will defend generally tbe title to the Property against all claims and demands, subject to any
encumbrances of record.
THIS SECURlTY INSTRU1\'IENT combines uniform covenants for national use and non-uniform covenants with
limited variations by jurisdiction to constitute a uniform security instrument covering,real pro[Jerty.
UNIFORM COVEN,'\NTS. Borrower and Lender covenant and agree as r5llows:
1. Payment of Principal aod Interest; orrower shall promptly pay wben due
the principal of and interest on the dcbt evidence EXHIBIT ll1d late charges due under the Note.
2. Funds for Taxes and Insurnnce. S ten waiver by Lender. Borrower shall
pay to Lcnder on the day monthly paymcnts are i.-a. paid in full, a sum ("Funds") for: (a)
ycarly: taxes and assessmcnts which may attain p .. -0- as a lien on the Property; (b) yeaEly
leasehold payments or groullll rents on the Prop perty insuranc;;..l?.:emi.ums; (d) yearly
flood (r, , . '.""
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insurance premiums, if any; (e) yearly mortgage insurance prermums, if any; and (f) any sums payable by Borrower to
Lender, in accordance with [he provisions of paragraph 8, in lieu of the paymem of mortgage insurance premiums. These
items are called "Escrow Items." Lender may, at any lime, collect and hold Funds in an amoum not to exceed the ma,imum
amount a lender for a federally related mortgage loan may require for Borrower's escrow account under the federal Real
Estate Senlement Procedures Act of 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"), unless
anmher law that applies to the Funds sets a lesser amount. If so, Lender may, at any lime, conect and hold Funds in an
amoum not to exceed the lesser amount. Lender may estimate the arnoum or Funds due on the basis of current data and
reasonable estimates of expendirures or fulUre Escrow Items or olherwise in accordance with applicable law.
The Funds shan be held in an institUtion whose deposits are insured by a rederal agency, instrumentality, or entity
(includiIlg 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, unl~ss 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
arl agreement is made or applicable law requires imerest 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 aceounting 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 pewjtted 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 nOl 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 ll1e
deficiency in no more than twelve monthly payments, at Lender's sole discrelion,
Upon payment in fun of all sums secured by this Security Instrumem, 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 I and 2 shaIl be applied: first, to any prepayment charges due under the Note; second, to amounts payable under
paragraph 2; third, to imerest due; fourth, to principal due; and last, to any late eharges due under the Note.
4. Charges; Liens. Borrower shall pay all taxes, assessments, charges, tines and impositions attributable to the Propeny
which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shaIl pay
these obligations in the manner provided in paragraph 2, or if not paid in that maImer, Borrower shall pay them on time
directly to the person owed payment. Borrower shall prompHy furnish to Lender all notices or amounts to be paid under this
paragraph. If Borrower makes these payments direcLly, 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) agrees
in writing to the payment or the obligation secured by the lien in a manner acceptable to Lender; (b) contests in good faith
the lien by, or defends against enforcement of the lien in, legal proceedings which in the Lender's opinion operate to prevent
the enforcement or lhe lien; 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 Propeny is subject to a lien, which may attain
priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisry lhe
lien or take one or more of the actions set rorth above within 10 days of the giving of notice,
5, Hazard or Property Insurance. Borrower shaIl keep the improvements now existing or hereafter ereeted on the
Property insured against loss by fire, hazards included within the term "extended eoverage" and any other hazards, induding
floods or flooding, ror which Lender requires insurance. This insurance shall be maintained in the a.rnoums and for the
periods that Lender requires. Tue 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 oplion, obtain eoverage 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 shaIl promptly give to Lender all receipts
of pald premiums and renewal nOllces, 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 aIld 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 reasibIe 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 Securi,ty 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 lhe due date or lhe monthly payments referred to in paragraphs I 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 shaIl pass to Lender to the extent of the sums secured by this Security
Instrument inunediately 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 resid.ence within sixty days after the execution
of this Security Instrument and shall continue to occupy the Propeny as Borrowe/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
IOWA, Single Family, FNMAlFHLMC UNIFORM INSTRUMENT
lCC-H?42:734.PCL-IOt% hg~ ~ at 5
Form 3016 9-90
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impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borro;Ner shall be in default if any
forfeiture action or proceeding, whether civil or criIT'jnal, 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 Iustrument 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 lnstrument 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 lnstrument, 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),
Ll].en 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 L'1strument,
appearing in court, paying reasonable attomeys' 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. Uuless 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 secured by this
Security Instrument, Borrower shall pay the preITljums required [Q 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 [Q the cost to Borrower of the mortgage insurance previously in effect, from an alternate mortgage
insurer approved by Lender. If substantially equivalent mortgage insurance coverage is not available, Borrower shall pay
to Lender each month a sum equal to one-twelfth of the yearly mortgage insurance premium being paid by Borrower when
the insurance coverage lapsed or ceased to be in effect. Lender will accept, use and retain these payments as a loss reserve
in lieu of mortgage insurance. Loss reserve 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 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 secuzed 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 alllount 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 alllount of the proceeds multiplied by the following
fraction: (a) the tOtal amount Qf the sums secured immediately before the taking, divided by (b) the fair market value of the
Property immediately betore..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 lnstrument 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, wheLl].er 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 I and 2 or change the amount of such payments.
11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for paymem or
modification of amortization of the sums secured by tllis 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 anlortization of the sums secured by this Security lnstrument by reason of any demand made by the original
Borrower or Borrower's successors in imerest. 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 lnstrument 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; i(b) is not personally obligated to pay the
sums secured by this Security lnstrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify,
forbear or make any accomm.odations with regard to the terms of this Security Instrument or the Note without that
Borrower's consent.
IOWA - Single Family. FNMAlFHLMC UNIFORM INSTRUMENT
JCC.HP422735.PCL.lO/96 ?a~e 3 of .s
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Form 3016 9.90
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 pewitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits wiE
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. Notioes, Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by
mailing it by fIrst class mail 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. .A...'1y 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 of 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 Securiry 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,
16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument.
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 fJll of all sums secured
by this Securiry 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 Jess 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 ail 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 nO[ 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 mOTe 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 ;--.rote 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 norice
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 Substanoes. Borrower shall not cause or permit the presence, use, disposal, storage, or release of
any Hazardous Substances on.er in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting ,he
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 use 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 flarrul1able 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 a..'1d agree as follows:
21. Acceleration; Remedies. Lender shall give notice to Borrower prior to a=leration following Borrower's breach
of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable
law provtd~ 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 orfor 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 par:le"Taph 21, including, but not limited to, reasonable attorneys' fees and
costs of title evidence,
IOWA, Single Family' FNMA/FHI..'-'IC UNIFORM INSTRUMENT
ICC-HP422i36.PCL-1O/96 pa.ge 4 of 5
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Form 3016 9-90
22. Release. Upon payment of all sums secured by this Security Instrument, Lender ,shall release this Security
Instrument without charge to Borrower. '
23. Waivers, Borrower relinquishes all right of power 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 judgement 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
judgement against Borrower, the period of redemptions from judicial sale shall be reduced to 60 days. The provisions of
this paragraph 24 shall be construed to conforrn 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 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)]
o Adjustable Rate Rider
o Graduated Payment Rider
o Balloon Rider
o Other(s) [specify]
o Condominium Rider
o Planned Unit Development Rider
o Rate Improvement Rider
IXI 1-4 Family Rider
o Biweekly Payment Rider
o Second Home Rider
[TIllS SPACE INTENTIONALLY LEFT BLANK]
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:
ISeal)
Borrower
ISeal)
Borrower
Social Security
Social Security
(Seal)
Borrower
ISeal)
Borrower
Social Security
Social Security
(Seal)
Borrower
(Seal)
Borrower
Social Security
Social Security
[Space Below This Line For Acknowledgement]
IOWA - Single Family - FNMAlFID.-MC UNIFORM INSTRUMENT
ICC.HP422737.10/% Pagt: j of 5
FOnD 3016 9-90
STATE OF IOWA
County ss:
On this 18 t. hday of OCTOBER, 1999
Stat of Iowa, personally appeared RAYMOND J WALDBILLIG ,
, before me, a Notary Public in the
a single person,
to me personally known to be the person(s) named in and who executed the foregoing lL"1strument, and acknowledged that
they executed the same as their voluntary act and deed,
{2..-'"1 /ei 6
y'" 11 :r. ~ -I
\ Cl..-C::VJ.-I /'lC,/_,(j_/~
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Notary Public in the ,,~l f low ,,~,
~ :-5' -;? i KATHY A.. 8; :::.7'2....S
;~. !-r MYC()~lM,SSI}l,,~,~ :-:-:
l ~ /!rt.'"7!(!C
(Space Below This Line Reserved For r;;:;de,. and Recorder)
My Commission expires:
i
NOT ARYIA.HP4-10/%
Form 3016 9-50
WHEN RECORDED MAIL TO:
EQUITY ONE, INC.
4949 ?LEAS.~~ STREET, #205
WEST DES MOINES, IA 50266
[Space Above ThIs Lwe For Recording Data]
1-4 FA..r.1VIILY RIDER
(Assignment of Rents)
TIDS 1-4 FAl\rIIL Y RIDER is made this 18 th day of OCTOBER, 1999 , and is
incorporated into and shall be deemed 10 amend and supplemenr 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 Note to EQUITY
ONE, INC., A DELAWARE CORPORATION
(the "Lender") of the same date and covering the Property described in the Security Instrument and located at:
2983 PENNSYLVANIA AVENUE
DUBUQUE, IOWA 52001
[Propercy Address)
1-4 FAMILY COVENANTS. In addition to the covenants and agreements made in the Security Instrument,
Borrower and Lender further covenant and agree as follows:
A. ADDITIONAL PROPERTY SUBJECT TO THE SECURITY INSTRUMENT. In addition to the Property
described in the Security Instrument, the following items are added to the Property description, and shall also constitute the
Property covered by the Security Instrument: building materials, appliances and goods of every nature whatsoever now or
hereafter located in, on, or used, or intended to be used in connection with the Property, including, but not limited to, those
for the purposes of supplying or distributing heating, cooling, electricity, gas, water, air and light, fire prevention and
extinguishing apparatus, security and access control apparatus, plumbing, bath tubs, water heaters, water closets, sinks,
ranges, stoves, refrigerators, dishwashers, disposals, washers, dryers, awniIlgs, storm windows, storm doors, screens, blinds,
shades, curtains and curtain rods, attached mirrors, cabinets, panelling and attached tIoor coverings now or hereafter attached
to the Property, all of which, including replacements and additions thereto, shall be deemed to be and remain a part of the
Property covered by the Security Instrument. All of the foregoing together with the Property described in the Security
Instrument (or the leasehold estate if the Security Instrument is on a leasehold) are referred to in this 1-4 Family Rider and
Security Instrument as the "Property".
B. USE OF PROPERTY;' COMPLIANCE WITH LAW. Borrower shall not seek, agree to or make a change
in the use of the Property or its zoning classification, unless Lender has agreed in writing to the change. Borrower shall
comply with all laws, ordinances, regulations and requirements of any governmental body applicable t'o the Property.
C. StffiORDINATE LIENS. Except as permitted by federal law, Borrower shall not allow any lien inferior to the
Security Instrument to be perfected against the Property with.out Lender's prior written permission.
D. RENT LOSS INS'lJRANCE. Borrower shall maintain insurance against rent loss in addition to the other hazards
for which insurance is required by Uniform Covenant 5.
E. "BORROWER'S'RIGHT TO REINSTATE" DELETED. Uniform Covenant 18 is deleted.
F. BORROWER'S OCCUPANCY, The first sentence in Uniform Covenant 6 concerning Borrower's occupancy
of the Property is deleted. All remaining covenants and agreements set forth in Uniform Covenant 6 shall remain in effect.
G. ASSIGNMENT OF LEASES. Upon default by the Borrower, Lender shall become the assignee of all leases
of the Property and all security deposits made in connection with leases of the Property. Upon default, Lender shall have
the right to modify, extend or terminate the existing leases and to execute new leases, in Lender's sole discretion. As used
in this paragraph G, the word "lease" shall mean "sublease" if the Security Instrument is on a leasehold.
H. ASSIGNMENT OF RENTS; APPOThl).,ffiNT OF RECEIVER; LEl'iDER IN POSSESSION.
Borrower absolutely and unconditionally assigns and transfers to Lender all the rents and revenues ("Rents") of the
Property, regardless of to whom the Rents of the Property are payable. Borrower authorizes Lender or Lender's agents to
collect the Rents, and agrees that each tenant of the Property shall pay the Rents to Lender or Lender's agents. However,
Borrower shall receive the Rents until (i) Lender has given Borrower notice of default pursuant to paragraph 21 of the
Security Instrument and (ii) Lender has given notice to the tenant(s) that the Rents are to be paid to Lender or Lender's
agent. This assignment of Rents constitutes an absolute assignment and not an assignment for additional security only.
If Lender gives notice of breach to Borrower: (i) all Rents received by Borrower shall be held by Borrower as
trustee for the benefit of Lender only. to be applied to the sums secured by the Security Instrument; (ii) Lender shall be
entitled to collect and receive all of the Rents of the Property; (iii) Borrower agrees that each tenant of the Property shall
pay all Rents due and unpaid to Lender or Lender's agents upon Lender's written demand to the tenant; (iv) unless applicable
law provides otherwise, all Rents collected by Lender or Lender's agents shall be applied tirst to the costs of taking control
of and managing the Property and collecting the Rents, including, but not limited to, attorney's fees, receiver's fees,
premiums on receiver's bonds, repair and maintenance costs, insurance premiums, taxes, assessments and other charges on
the Property, and then to tbe sums secured by the Security Instrument; (v) Lt;nder, Lender's agents or any judicially
appointed receiver shall be liable to account for only those Rents actually received; and (vi) Lender shall be entitled to have
a receiver appointed to take possession of and manage the Property and collect the Rents and profits derived trom the
Property withour any showing as to the inadequacy of the Property as security.
MULTISTATE RIDER - 1.4 Family - FNMA/FHLMC MODIFIED INSTRUMENT
ICC30822.EQY-\i98 ~g(' 1 01'2
Form 3170 (9/90)
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If the Rents of the Property are not sufficient to cover the costs of taking control of and managing the Property a11d
of collecting the Rents any funds expended by Lender for such purposes shall become indebteclness of Borrower to Lender
secured by'the Security l11S1rument pursuant to Uniform Covenant 7.
Borrower represents and warrants that Borrower has nO! executed any prior assignment of the Rents and has not
and will not'perform any act that would prevent Lender from exercising ilS rights under this paragraph.
Lender, or tender's agents or a judicially appointed receiver, shall not be required to enter upon, take controi of
. ,or maintaiti-the Propr;:rty before or after giving notice of default to Borrower. However, Lender, or Lender's agents or a
judicially appointed receiver, may do so at any time when a default occurs. Any application of Rents shall not cure or waive
any default or invalidate any other right or remedy of Lender. This assignment of Rents of the Property shall terminate when
all the sums secured by the Security Instrument are paid in full.
1. CROSS-DEFAULT PROVISION. Borrower's default or breach under any note or agreement in which Lender
has an interest shall be a breach under the Security InstrUment and Lender may invoke any of the remedies permitted by
Security Instrument.
Borrower accepts and agrees to the terms and provisions contained in this 1-4 Family
(Seal) (Seal)
Borrower Borrower
(Seal) (Seal)
Borrower Borrower
(Seal) (Seal)
Borrower Borrower
MULTISTATE RIDER. 1.4 Family, FNMA/FHLMC MODIFIED INSTRUMENT
lCC30823.EQy.jJ9S Page: 2. on
Form 3 t 70 (9/90)
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
as I verily believe.
PK0015400
Subscribed and sworn to
2005 .
,-,^' _ PATRiCIA S. WOLF
,,-' A, "..;. c~~""';-"'~ ", ,.,.,,,~. '73"803
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Notary Public in and f6r the
State of Iowa
Exhibit
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