Claim Deutsche Nat'l Bank Trust Co.
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IN THE IOWA DISTRICT COURT FOR DUBUQUE COUNTY
DEUTSCHE BANK NATIONAL
TRUST COMPANY, AS
TRUSTEE ON BEHALF OF
THE CERTIFICATEHOLDERS
OF MORGAN STANLEY
ABS CAPITAL I INC.,
MORGAN STANLEY ABS
CAPITAL I INC. TRUST
2005
13-3347003:
EQUITY NO.
O\3JlfGlVOCrv/V
ORIGINAL NOTICE
Plaintiff, :
vs.
GEOFFREY J. FITZGERALD
AND MARIE E. FITZGERALD;
CITY OF DUBUQUE, IOWA,
THROUGH ITS HOUSING &
COMMUNITY DEVELOPMENT
DEPARTMENT;
MOLO PLUMBING AND
HEATING;
STEVEN L. CHRIST DBA
STEVE CHRIST
CONSTRUCTION;
STEVEN L. CHRIST;
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 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)
nU'L.
Clerk of the Above Court
Dubuque County Courthouse
Dubuque, Iowa 52004-1220
YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS.
.
IN THE IOWA DISTRICT COURT FOR DUBUQUE COUNTY
DEUTSCHE BANK NATIONAL
TRUST COMPANY, AS
TRUSTEE ON BEHALF OF
THE CERTIFICATEHOLDERS
OF MORGAN STANLEY
ABS CAPITAL I INC.,
MORGAN STANLEY ABS
CAPITAL I INC. TRUST
2005
13-3347003:
EQUITY NO.
6 ;-311 E QCY OC! (j! U.3
PETITION
Plaintiff, :
vs.
GEOFFREY J. FITZGERALD
AND MARIE E. FITZGERALD;
CITY OF DUBUQUE, IOWA,
THROUGH ITS HOUSING &
COMMUNITY DEVELOPMENT
DEPARTMENT;
MOLO PLUMBING AND
HEATING;
STEVEN L. CHRIST DBA
STEVE CHRIST
CONSTRUCTION;
STEVEN L. CHRIST;
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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.
1
Plaintiff, Deutsche Bank National Trust Company, as Trustee
on Behalf of the Certificateholders of Morgan Stanley ABS
Capital I Inc., Morgan Stanley ABS Capital I Inc. Trust 2005,
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 27, 2004, Marie E. Fitzgerald
and Geoffrey J. Fitzgerald (the "Mortgagorls)") made, executed
and delivered to Mortgage Electronic Registration Systems,
Inc., a promissory note in writing for the sum of $238,000.00
payable in installments, with interest at 7.44% 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 October 27, 2004 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") :
Lot 28, and, the East 26 feet of Lot 27, In Farley's
Subdivision of Lots 703, 704, 704A, 717, 717A and 718
(also described as Lot 28, and the East 26 feet of
Lot 27, in Farley's Subdivision) in the City of
Dubuque, Iowa, according to the recorded plat
thereof.
the Mortgage was filed for record November 2, 2004, in File
2004-00019315 in the Recorder's Office of Dubuque County, Iowa.
A copy of the Mortgage is attached hereto and made a part
2
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).
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 $234,805.40 with interest at 7.44% per
annum from and including April 1, 2006.
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 "Cu.
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:
· City of Dubuque, Iowa, through its Housing &
Community Development Department, $5,000.00
Mortgage, dated July 13, 2005, filed July 28, 2005,
File 2005-12066
· Steven L. Christ, $8,570.00 Judgment, dated November
15, 2004, filed November 15, 2004, Mechanics Lien
No. 5005, plus interest
· Molo Plumbing and Heating, $6,245.27 Judgment, dated
July 31, 2006, filed July 31, 2006, Mechanics Lien
No. 5129, plus interest
· Steven L. Christ dba Steve Christ Construction,
Petition for Foreclosure, dated September 13, 2005,
filed September 13, 2005, 01311 EQCV 095318, Pending
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.
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.
5
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, 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 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 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
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
6
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.
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.
ATTORNEYS FOR PLAINTIFF
7
ADJUSTABLE RATE NOTE
(LlSOR Index - Rale Caps)
THIS ~OT[ CONTAINS PROVISIONS ALLOWING FOR CHANGES 1:"l.\1Y J:"JTEREST RATE AND .\1Y
:\10NTHLY PAYMENT. THlS :'\lOTE LIMITS THE AMOUNT .\1Y INTEREST RATE CA:"l CHANGE ,\T
A:"IY O~E T1;\1E AND THE MAX[\1UM RATE] MUST PAY.
OCTOBER 27
,2004
DUBUQUE
IOWA
IDat~j
ICily]
[Stale!
561 JEFFERSO!'l STREET, DUBUQUE, IOWA 52001
[l'ropertyAddress]
J. BORROWER'S PROMISE TO PA Y
In return for a loan that J have received, J promise 10 pay U.S. S238.000.00 (lhis amount is called "Principal").
plus interest. to the order of the Lender. The Lender is In't'rvale MOTlgage Corporation. J ViiI! make all payments
under this NOle in the form of cash. check or money order.
I understand thaI the Lender may transfer this NOle. The Lender or anyone who lakes Ihis NOle by transfer and
who is entitled 10 receivc payments under tbis NOIe is called lhe "Note Holder"
2. I:'4TEREST
Interest will be charged on unpaid principal until the full amount of Pnncipal has been paid. I will pay in!erest O1t a
yearly rate of 7.44%. The inlerest rate I will pay may change in accordance with Section 4 of thi:;. Note
The interest rate required by this Section 2 and Section 4 of this NOle is the ratc I will pay hoth before and after
any default described in Section 7(8) 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 paymenls on the 1ST day of each month beginning on DECEMBER 1. 2004. I will make
thesc paymenls every month until I have paid all of the principal and interest and any other charges described below
lhat 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 NOVEMBER I, 2034, I still owe amounts under this NOIe, I will pay those amounts
in full on lhal date, which is called the "Maturity Date"
I will make my monthly payments at 815 Reservoir Annue. Cranston, Rhode lsland 029JlI or at a different place
if required by the NOle Holder.
(B) Amount of :\1y Initial Monthly Payments
Each of my initial monthly payments will be in the amount of U.S. SI.654.37. This amounl may change
(C) Monthly Paymf'nt Changes
Changes in my monthly payment will refieet changes in the unpaid principal of my loan and in the interest rale
thai J must pay. The Note Holder will detennine my new IOterest rate and the changed amount of my monthly
paymenl in accordance with Section 4 of this Note.
4. INTEREST RATE AND MONTHLY PAYMENT CHANGES
fA) Change Dates
The interest rate J will pay may change on the 1ST day of NOVEMBER, 2006 and on Ihat day every 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-denominaled deposits in the London market ("LlBOR"). 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 calculale my new interest rate by adding SEVE?"II AND
]9/100THS percentage points (7.]9%) to the Current Index. The Note Holder will thcn round the result of this
addition 10 the nearest one~eighth of one percentage point (0.125%). Subject 10 the limits stated in Section 4(0)
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 J am required to pay at the first Change Date will not be greater than 10.44% or less than 7.44%.
Thereafler, my interest rate will never be increased or decreased 00 any single Change Date by more than one
percentage point (1 %) from the rate of interest J have been paying for the preceding six months. My interest rale will
never be greater than )3.44% or less than 7.44%.
(E) Effective Date of Changes
My new interest rale will become effective on each Change Date. I will pay the amount of my new monthly
payment beginning on the first monthly payment date afler the Change Date until the amount of my monthly payment
changes again.
EXHIBIT
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MUI..TlSTATE ADJUSTABLE RATE NOTE (L1BOR Indn)-Sin
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(f) :"jotic(' of Changes
The NOle Holder will deliver or mail to me a nOllcr of any changes in my interest rate and the amounl of my
monthly paymenl before Ihe effcclive date of any changc The oOlice will include informalion required by law to bc
given to me and also Ihe lilk and lelephone number of a person who will answer any queslion I may have regardmg
the nOlice.
S. BORROWER'S RJGHT TO PREPAY
J have the righl to make payments of Principal al any lime before they are due. A payment of Principal only is
known as a "Prepayment." When I make a Prepayment. I will tel1the Note Holder in writing Ihall am doing so. I
may not designale a payment as a Prepayment if I have not made all the monlhly payments due under the Note.
I may make a full Prepayment or partial Prepaymenls wilhout paying any Prcpaymenl charge. The Nole Holder
will use my Prepayments 10 reduce the amount of Principallhal I owe under Ihis NOle. However. the Note Holder
may apply my Prepaymcnl to Ihe accrued and unpaid inleresl on the Prepayment amounl before applying my
Prepayment 10 reduce Ihe Principal amounl of the NOle. If I make a partial Prepaymenl. there will be no changes in
the due dates of my mOnlhly pay men IS unless the Note Holder agrees in "'Titing to Ihose changes. My partial
Prepayment may reduce the amount of my monthly payments after the firSI Change Dale following my partial
Prepayment. However. any reduction due 10 my panial Prepayment may be offset by an interesl rale increase.
6. LOA:"j CHARGES
If a law. which applies to this loan and which sets maximum loan charges. is finally interpreted so Ihat the
inlerest or other loan charges collecled or to be collected in connection with this loan exceed lhe permitted limits.
Ihen: (a) any such loan charge shall be reduced by lhe amount necessary 10 reduce Ihe charge 10 Ihe perml1lcd limit:
and (b) any sums already collecled from me which exceeded permilled limils will be refunded to me, The Note
Holder may choose 10 make Ihis refund by reducing the PrmcipaJ I owe under this Nole or by making a direrl
pay men I 10 me. Jf a refund reduces Principal. Ihe reduction will be treated as a partial Prepayment
7. BORROWER'S FAILURE TO PAY AS REQUIRED
(A) La'e Chargf's for Overduf' Paymf'n's
Iflhe Nale Holder has not received Ihe full amaunl of any monthly payment by the end offlfTEEN calendar days
afler Ihe date il is due. I will pay a late charge 10 Ihe NOle Holder. The amount of the charge will be s.o % of my
overdue paymcnl of principal and interest. I will pay Ihis laic charge promplly bUI only once on each lale payment
(B) Default
If I do nol pay the full amoun! of each monthly payment on lhe date il is due. I will be in defauh.
(C) Nolic(' of Default
If I am in defauh. the NOlc Holder may scnd me a wrillen nOliee telling me Ihat if I do not pay the overdue
amOUn! by a ceTlain dale. the Nole Holder may requirc me 10 pay immediately the full amoun! of Principal which has
nOI been paid and all the inlercsl Ihal I o\\/e on thai amount That dale musl be al least 30 days aner the date on which
Ihe notice is mailed to me or delivered by other means
(D) No Waiv('r by :"jole Bolder
Even if. at a limc I am in default. Ihe Note Holder does nOl require me to pay immcdiately in full as descnbed
above. Ihc Nale Holder will sli!] have Ihe right to do so if I am in defaul1 al a laler timc
(E) Payment of No'(' Holder's Costs and Expens('s
If the Note Holder has required me 10 pay in full as described above. the NOlr Holder will have the right to be
paid back by me for all of its COSIS and expenses in enforcing Ihis Note 10 the ex lent nOI prohibiled by applicable law.
Those expenses inelude. for example. reasonable attorneys' fees.
8. GIVING Of NOTICES
Unless applicable law requires a differenl mClhod. any nOlice Ihat must be given to me under this Nole will be
given by delivering il or by mailing it by first class mail 10 me at Ihe Property Address above or at a different address
if I give the Note Holder a notice of my differenl address.
Any nOlice thai must be given to the Note Holder under Ihis Nole will be given by delivering it or by mailing it by
firsl class mail 10 the Note Holder al the address slated in Seclion 3(A) above or at a different address if J am given a
nOliee of that different address.
9. OBLlGA TJONS OF PERSONS UNDER THIS NOTE
If more than one person signs Ihis Note. each person is fully and personally obligated 10 keep all of the promises
made in Ihis NOle, including the promise to pay the full amoun! owed. Any person who is a guarantor, surety or
endorser of this Nole is also obligaled to do Ihese Ihings. Any person who lakes over Ihese obligalions. including Ihe
obligalions of a guarantor. surety or endorser of this Note, is also obligated to keep all of the promises made in IhlS
Note. The NOle Holder may enforce lis rights under this Note against each perSOn individually or againsl all of us
logether. This means Ihat anyone of us may be required to pay all of the amounls owed under this Nole.
] O. WAIVERS
I and any other person who has obligations under this NOle waive the righls of Presenlment and Notice of
Dishonor. "Presentment" means the right 10 require Ihe Note Holder 10 demand paymenl of amounts due. "Notice of
Dishonor" means Ihe right to require Ihe Note Holder to give notice to other persons that amounls due have not been
paid.
II. UNIFORM SECURED NOTE
This Note is a uniform instrument with limited variations in some jurisdictions. In addilion to the protections given
10 Ihe Note Holder under this Note, a Mortgage, Deed of Trust. or Security Deed (the "Security lnstrument"). daled
Ihe same date as Ihis Note, protecls the Note Holder from possible losses whieh mighl result if I do nol keep the
promises thai ) make in this Note. That Securily Instrument describes how and under what conditions I may be
required 10 make immediate payment in full of all amounts I owe under Ihis Note. Some of Ihose conditions are
described as follows:
MU1,T1STATE AD.JUSTABU: RATE NOTE IUROR Indn)--Singlc. Family--FrPddlfo Mac MODIFIED INSTRUfI.If:NT FOnD J~99 )41
fpag~} of 3 pagp..)
TraRsfE'r of IhE' PropE'rty or a BE'nE'ficial 1".E'rest in BorrowE'r. 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 wrillen consent. Lender may require immediate
payment in full of al] 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 submilled to Lender information required by Lender 10 evaluate the intended transferee
as if a new loan were being made to the transferee; and (b) lender reasonably detennines 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 Securily Instrument is acceptable to lender.
To the extent permitted by Applicable Law. Lender may charge a reasonable fee as a condition 10 Lender's
cansen! 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 Ihis Security Instrumen\. 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 nOI less than 30 days from the date the not lee is given in
accordance with Section 15 within which Borrower muSI pay all sums secured by this Security Instrumen\. If
Borrower fails to pay these sums prior to the expiration of this period. lender may invoke any remedies
pcrmined by this Security Instrument without funhcr notice or demand on Borrower.
W!TI\I:SS THE HAJ'\[)(S) AND SEAUS) OF TUE UJ'\DERSIGNED
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MIJLTI.'H"'TE "'D..JUSTABLE RATE :"'OTE JUBOR l.d...)-Sin~J~ hmily--Fr"'dlt MH MODIFIED INSTRUMENT FormJ!\90 Illll
(pag~ J of J ptlg~$J
PREPA YMENT RIDER TO NOTE
TillS PREPAYMENT RIDER is made this 27T11 day of OCTOBER , 20~
and is incorporated into and shall be deemed to amend and supplemenl the Note of Ihe same date given by
the undersigned (the "Borrower") in favor of Intervale Mortgage Corporation (the "Lender").
5. BORROWER'S RIGIIT TO PREPA Y
I have the right to make payments of principal at any time before they are due. ^ payment of
pnncipal 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 partial prepayment without paying any prepayment charge. If I make a full prepayment
within one (I) year of the date of this Note, I agree to pay a prepayment charge of 5% of the original
principal amount of the loan; if I make a lull prepayment more than one (I) year but within two (2) years
of the date of this Note. I agree to pay a prepayment charge of 5% of the original principal amount of the
loan. 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]
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. My partial prepayment may reduce the
amount of my monthly payments after the lirst Change Date following my partial prepayment. However,
any reduction due to my partial prepayment may be offset by an interest rate increase.
By SIGNING BELOW, Borrower accepts and agrees to the tenns and provisions contained in this
Prepayment Rider.
,Ii r~ 7.' \ r?(~~~<.s-cQ
M^~IE E. FITZGERALD "
(Seal)
-BorroWer
(Seal)
-Borrower
(Seal)
-Borrower
IOWA PREPAYMENT RIDER - ADJUSTABLE RATI':. FIRST MORTGAGE
DEED LABEL .
. HF'SU13
F] 7'ZGEIUU.n
, HARlE
Itlvestor
~~ soy Ie C 1111I11I11111111111111111111111111111111111111111111111111111111111111111111111I
'._ . Doc 10: 005035570014 Type: GEN
. I 'I 02 "1 (;2u Recorded: 11/02/2004 at 04: 03: 43 PM
;2 /} (/00'--1 .' . Fee Amt: $72.00 PaQe 1 of 14
~ D Dubuque County Iowa
Kathy Flynn Thurlow Recorder
Flle2004-00019315
F;
Name $238,000.00
Morgan St
anley
IOn
St<:ltus
!~~~~~~~~(~~~i.iV,
004 ,.
W 6465 WAYZATA BLVD. STE 970,6465 Wayzata Blvd.. Suite 970. ST.
55426 Phone: (952) 225.1700
/ .ce Above This Line For Recording Dala)
MORTGAGE
MIN: 10007791 0002H4H790
DEfiNITIONS
Words used in multiple sections of this document arc defined below <lnu other words arc defined in Sections 3, ] I, ]3, ]8.20
and 21. Certain rules regarding the usage of words used in this document arc also provided in Section 16.
(A) "Security Jnstrument" means this document, which is dated OCTOBER 27, 2004, together with all Riders 10 this
document.
(B) "Borrower" is MARIE E. FITZGERALD, and GOEFFREY J. FITZGERALD, WIFE AND HUSBAND. Borrower is
the mortgagor under this Security Instrument.
(C) "MERS" is Mortgage Electronic Registration Systems, Inc. MERS is a separate l'oll'oration thai 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. Bux 2026, Flint, MI
4~501.2026, tel. (888) 679.MERS.
(0) "Lender" is lntervale Mortgage Corporation. Lender is a CORPORATION organized and existing under the laws of
RHODE ISLAND. Lender's address is 815 RESERVOIR A VENUE, CRANSTON, RHODE ISLAND 02910.
(E) "Nole" means the promissory note signed by Borrower and dated OCTOBER 27, 2004. The Note slales thaI Borrower
owes Lender TWO HUNDRED THIRTY-EIGHT THOUSAND AND OOIlOOlhs Dollars (U.5.$238,000.00) plus interest.
Borrower has promised to pay this debt in regular Periodic Payments and to pay the debt in full not later than NOVEMBER 1,
2034.
(F) "Property" means the property Ihat is described below under Ihe heading "Transfer of Righls in the Property."
(G) "Loan" means Ihe debt evidenced by Ihe Nole, plus interest. any prepayment charges and late charges due under the NOle,
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 arc to be
executed by Borrower (check box as applicable):
Ix Adjustable Rate Rider
Balloon Rider
1-4 Family Rider
Condominium Rider
Planned Unit Development Rider
Biweekly Paymel
Second Home Rider
Other( s) I ~nl"ri F"I
11l11111111\11~1\1111\111111\11\11\11111\11\111\1111111I
02 ee1 ee3
f h
11~li ~llililmllillimllJJiliililnmilli~lilli ulill~ll
Form 3016 1/01 (page I of J I pages)
(I) "Applicable Law" means all (ontrolling applicable federal. shlte and local statutes. regulations. ordinances and
administrative rules and ordns (tha'f have ~he effect of law) as well as all applicable final. non-appealable judicial opinions.
(.J) "Communit)' Association Dues, Fees, and Assessments" means all dues, fees, assessments and other charges that arc
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 arc 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 Propt:rty; (iii) conveyance in heu 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 lhe Note. plus (ii) any
amounts under Section 3 of this Security Instrument.
(P) "RESPA" means the Real Eslale Selllement Proeedures Act (12 U.S.c. 92601 et seq.) and its Implement 109 regulation,
Regulation X (24 c.r.R. Part 3500). as they might be amended from lime 10 lime, 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 arc imposed in regard 10 a "federally related mortgage loan" even if the Loan does not qualify as a "federally
relaled mortgage loan" under RES? A.
(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 Jnstrument 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 DUBUQUE
IType of Recording Jurisdiction] IName of Recording Jurisdiction]
smK~lWI<JfXsnmoEiLE(~XX
Lot 28, and, the East 26 feet of Lot
717, 7]7A and 7]8 (also described as
Sobdivision) in the City of Dobuque,
Subdivision.
27, in Farley's
Lot 28, and the
Iowa, according
Subdivision of I.oes 703, 704, 704A,
East 26 feet of Lot 27, in Farley's
to the recorded Plat of said
which currently has the address of 56] JEFFERSON STREET
DUBUQUE
, Jowa
52001
Ilip Code]
I Street]
("Property Address"):
ICity]
lOW A--Single FamilYhFannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 3016 1/01 (pUKe 2 (~lll poxes)
TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appunenanccs, 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 neccss;uy to comply with law or
cuslom, MERS (as nominee for Lender and Lender's successors and assigns) has the right: 10 exercise any or all of thosc
interests, including, but not limited to, the right to foreclose and sell the Propcrty~ and 10 take any action required of Lender
mcluding, but not limited to, rclc(lsing (lnd canceling this Security Instrument.
BORROWER COVENANTS Ihat Borrower is lawfully seised of the estale 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 t'lle to the Property against all claims and demands, subject to any cncumbranees of record.
THIS SECURITY INSTRUMENT combines uniforrn covenants for national use and non-oniforrn covenants wilh limited
variatIOns by jurisdiclion to constitute a unifonn security instrument covering real property.
UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows:
J. Payment of Principal, Intefest, Escrow Items, Prepayment Charges, and Late Charges, Borrower shall pay when
due Ihe principal of. and interest on, the deht evidenced by the Note and any prcpayment charges and late chargcs due under the
Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security
Inslrument 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 Instfllmenl bc madc in one or more of the following forrns, as selectcd by Lcnder: (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 arc insured by a federal agency, instrumentality, or entity; or (d) Electronic Funds Transfer.
Paymenls arc deemed received by Lender when received at the location designated in the Nok 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 arc 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 10 its rights to refuse such
payment or partial paymenls in the future, but Lender is not obligated to apply such payments at the lime such payments arc
accepted. I f 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 curren!. If Borrower does not
do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. ]fnot 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 perfonning 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 Lendcr shall be applicd in the following order of priority: (a) interest duc 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~eceivcs 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. ]f more than one Periodic
Payment is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if,
and 10 the extcnt that, each payment can be paid in full. To the extent that any excess exists after thc 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 bc applied first to any prepaymcnt 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 Ihe due date, or change the amount, of the Periodic Payments.
3, Funds for Escrow Hems. 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 altain priority over this Security Instrument as a lien or encumbrance on the Property; (b) leasehold payments or
ground rcnls 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
lOW A-~SingJe- FamilYhFannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 3016 1/01 (page 3 q! 11 pages)
premiums in accordance with the provisions of Section 10. These items arc called "Escrow Items." At origination or at any
time during tht: teon of the Lml.l1, LeRder 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 hem. Borrower shall promptly furnish to
Lender all notices of amounts to be paid under this Section. Borrower shall pay Lender the Funds for Escrow hems unless
Lender waives Borrower's obligation to pay the Funds for any or all Escrow hems. Lender may waive Borrower's obligation to
pay to Lender Funds flJf 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 Lemler 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 hem, Lender may exercise its rights under Section 9 and pay such amount and Borrower
shall then he obligated under Section 9 to repay to Lender any such amount. Lt:nder may revoke the waiver as to any or all
Escrow Items at any lime 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 arc 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 thc Funds to pay the Escrow Items no later than the time spccified under RESPA. Lcndcr shall not charge Borrower for
holding and applying the Funds, annually analyzing the escrow account, or veri tying the Escrow Items, unless Lender pays
Borrower interest on the Funds and Applicable Law pennits 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 notity
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, Lendcr shall notify Burrower 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 ovcr this Security Instrument, leasehold payments or ground renls on the Property, if any, and
Community Association Dues, Fees, and Assessments, if any. To the extent that these items arc 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
perfonning 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 Ihe lien an agreement satisfactory to Lender
subordinating the lien to this Security Instrument. If Lender determincs 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.
lOW A--Single Family-.Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 3016 1/0) (page 4 oj J J pages)
5. Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Property insured
against loss by fire. hazards included wilhin the term "extended coverage," and any other hazards including, but not limited to,
e<lrthquakes and floods, for which Lender requires insurance. This insurance shall be maintained in the amounts (including
deductible levcls) tind for the periods that Lender requires. What Lender requires pursuant to the preceding sentences can
change during the term of the Loa'n. The insurance carrier providing the IIlsurance 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
10 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 insuT<-lIlce coverage, at Lender's
option and Borrower's expense. Lender is under no obligation to purchase any particular type or amount of covertige.
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 ami/or as an additional loss payee.
Lender shall have the right to hold lhe 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, nol 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 evenl of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may makc proof of loss
if not made promptly by Borrower. Unless Lender and BOfTowcr 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 repalT is economically feasible and Lender's security is not lessened. During such repair and restoralion period. Lender shall
have Ihe 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 un 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 tile, negotiate and sellle any available insurance claim. and related mailers.
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 eilher 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.
JOW AhSingJe Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 3016 J/OI (paRe 5 of 11 pages)
7. Preservation, Maintenance and Protection of the Property; Inspections. Borrower shall not destroy, damage or
impair the Property, allow the Pmpcrty t~) deteriorate or commit waste on the Property. Whether or not Borrower is residing in
lhe 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
arc paid in connection with damage to, or the taking of, the Property, Borrower shall be responsible for repairing or restoring
the Propeny 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 lhe 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 il 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
etJl interior inspection specifying such reasonable cause.
H. 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
ocrupancy of the Property as Borrower's principal residence.
9. Proleclion of Lender's Interest in lhe Property and Rights Under this Security Instrument. If (a) Borrower fails to
perform the rovenants 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 10 enforce laws or regulations), or (c) Borrower has abandoned the Property, then Lender may do and pay for
whatever is reasonable or approprlate to protect Lender's interest in the Property and rights under this Security lnstrumcnt,
including protecting and/or assessing the value of the Property, and securing and/or repairing the Property. Lender's actions can
include, but arc nol limited to: (a) paying any sums secured by a lien which has priority over this Security Instrument; (b)
appearing in cOlin; and (c) paying reasonable attorneys' fees to protect its interest in the Property and/or rights under this
Security Instmment, inrluding 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 docs 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
lnstrument. 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 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 tille shall not merge unless Lender agrees to the merger in writing.
]0. Mortgage Insurance. If Lender required Mortgage lnsurance as a condition of making the Loan, Borrower shall pay
lhe premiums required to maintain the Mortgage Insurance in effect. Jf, for any reason, the Mortgage Insurance coverage
required by Lcnder ceases to be available from the mortgage insurer that previously provided such insurance and Borrower was
required to makc 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 lhe 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 Lcnder 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 lhat 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
tennination is required by Applicable Law. Nothing in this Section 10 affects Borrower's obligation to pay interest at the rate
provided in the Note.
JOWAnSingJe F.amily-.Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 30t6 1I0t (page 6 of II pages)
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 agreeu. Borrower is not a party to the Mortgage Jnsurancc.
Mortgage insurers evaluate their total risk on all such insurance in force from time to time, and may enter into agreements
with othcr parties that share or modify their risk, or reduce losses. These agreements arc on tcrms 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, Lem.ler, 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 tcrmed "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.
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 Property, if the
restoration or rcpair is c<:onomically 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 inspecl such Property to
ensure the work has been completed to Lender's satisfaction, provided that sllch 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 intercst 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 valoe of the Property, the Miseellaneous Proeeeds 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 tak}ng,
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, destruetion, 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
Proeeeds shall be applied to tbe soms secured by this Security Instrument whether or not the sums are tben 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.
lOW A--Single FamiJy-~Fannie Mae/Freddie Mac: UNIFORM INSTRUMENT
Form 3016 1/01 (page 7 of II pages)
Borrower shall be in default if any actIOn or proceeding, whether civil or criminal, is begun lhat, in Lender's judgmenl.
could result in forfeiture of thc.Propert,y or other material impairment of Lender's interest in the Property or rights under this
Security lnstrument. 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 Secunty Instrument. The proceeds of any
award or claim for damages that arc attributable to the impairment of Lender's interest in the Property arc hereby assigned anu
shall be paid to Lender.
All Miscellaneous Proceeds that arc not applied to restoration or repair of the Property shall be applied in the order
provided for in Section 2.
J2, Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the lime 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 refusc to extend time for payment or
otherwise modify amortization of the sums secureu by this Security lnstrument by reason of any uemand made by the original
Borrower or any Successors in Inlerest 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.
]3. 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 Instmmcnt
but docs not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant emd convey the
co-signer's interest in the Property under the tenns of this Security lnstrument; (b) is not personally obligated to pay the sums
secured by this Secu'rity )nstrument; 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 10 the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under
this Security lnstrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this
Security lnstrument. 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.
] 4. Loan Charges. Lender may charge Borrower fees for services perform cd 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.
lf 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 pennitted 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 lnslrument 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 anyone 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 anyone 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 notke 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 lnstrument.
lOW A-~Single FamilYhFannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 3016 1/01 (page 8 of J I pages)
16. Governing Law; Severabilit)'; Rules of Construction. This Security Instrument shall be governed by federal law and
the law of Ihe jurisdiction in wh~ch 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 Securlty 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 contlicting
provIsIon.
As used in this Security Instrument: (fl) words of the mflsculine gender shall mean and include corresponding neuter words
or words of the feminine gender; (b) words in the singular shalJ mean and include the plural and vice versa; and (c) the word
"may" gives sole discretion without any obligation to take any action.
]7. BorrowH's Copy. Borrower shall be given one copy of the Note and oflhls Seeority 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 10, those beneficial interests transferred in a
bond for (ked, contract for deed, installment sales contract or escrow agreement, the intent of which is the transfer of title by
Borrower at a future datc 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 nol
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 InstnJment 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 Jnstrument, shall continue
unchanged. Lender may require that Borrower pay such reinstatement sums and expenses in one or more of the following fOnTIs,
as selected by Lender: (a) cash; (b) money order; (e) certified check, bank check, treasurer's check or cashier's check, provided
any such check is drawn upon an institution whose deposits arc 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 lnstrument 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 Scrvicer 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 infonnation 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
Serviccr and are not assumed by the Note purchaser unless otherwise provided by the Note purchaser.
IOWAhSingle FamilynFannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 3016 1/01 (page 9 of II pages)
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
notifit,;d 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" arc 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
Proper1y is locateJ that relate to health, safety or environmental protection; (c) "Environmental Cleanup" includes any response
action, rcmcJial 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.
Burrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazardous Substances, or threaten
to release <lny 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 arc generally recognized to be appropriate to nonnal 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 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 aelion required 10 cure Ihe default; (c) a date,
nol less than 30 days from Ihe date the notice is given 10 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 Ihe
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.
IOWAhSingle FarnilyuFannie Mae/Freddie Mac UNIFORM INSTRUMENT
For-m 3016 1/01 (page 10 oj 1 1 pages)
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 PROTECT ION FOR THIS
, RTGAGED PROPF;RTY WITH RE ECT TO CLAIMS BASED UPON THIS MORTGAGE.
-c:.C
_ tJt../...J Zit'" t i 0 .. ,;:'1- - 0'-1
MA IE E. FITZGERALD IDatel
~7
~/ /;/.. . '/~
GO,E P J. F~MLD
/(;-.-"71- -04
IDate]
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 perlod of redemption from judicial sale shall be reduced to 6 months. If the
court finds thai the Property has been abandoned by Borrower and Lender waives any right to a deficiency judgment against
Borrower. the pcnod 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 62S.27 of the Code of Iowa.
IMPORTANT: READ BEFORE SIGNING. THE TERMS OF TillS 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 Icnns and covenants contained in this SecUTlty Instrument and
in any Rider executcd by Borrower and recorded with it.
Witnesses:
\\\~~ 1- () ~~\)
MARIE E. FITZGERA
(Se31)
.Bonnwcl
,/1 // /J /~. /
M~ /./:;7 / (./
G9EFF~. FITZG ALD
(Seal)
-BOfHlV.'CI
(Seal)
(Seal)
-Borrower
-Borrowel
Slate of lOW A
)
) ss.
)
On this 27TH day of OCTOBER, A.D. 2004, before me, a notary public in and for said county, personally appeared
MARIE E. FITZGERALD, and GOEFFREY J. FITZGERALD, WIFE AND HUSBAND, to me personally known to be the
pcrson(s) named in and who executed the foregoing instrument, and acknowled~ that he/she/they executed the same as
hislher/their voluntary ael and deed. /'
.,~
Coonty of DUBUQUE
.. ,..
(Seal)
Notary
Jl if \ I-i S -oL,
", ..
IOWAnSingle FamiJy--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT
Form 3016 1/01 (page II at II pages)
ADJUSTABLE RATE RIDER
(UBOR Index - Rate Caps)
THIS ADJUSTABLE RATE RIDER is made this 27TII day of OCTOIIER, 2004, and is mcorporated into
and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the
"Security Instrument") of the same date given by the undersigned (the "Borrower") to secure the Borrower's
Note to INTERVALE MORTGAGE CORPORATION (the "Lender") of the same date and covering the
property described in the Security Instrument and located at:
561 .IEHKIlSON STIlt:ET,J)I,JlllJQUE, IQ\V_A52001
[Properly Address]
TIlE NOn: CONTAINS PROVISIONS ALLOWING FOR CIIANGES IN TilE INTEREST RATE
ANU TIlE MONTIILY PAYMENT. TilE NOTE LIMITS TilE AMOUNT TIlE 1I0RROWER'S
INTEREST RATE CAN C1IANGt: AT ANY ONE TIME AND TIlE MAXIMUM RATE TIlE
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 ratc of 7.440/0. The Note provides for changes in the interest rate
and the monthly payments, as follows:
4. INTEREST RATE AND MONTI/LY PAYMENT CHANGES
(A) Change Dates
The interest rale I will pay may change on the 1ST day of NOVE'\1BER, 2006, and on
that day every sixth month thereafter. Each datc 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 lndex. 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 JOl/rnal. 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
SEVEN AND 19/100THS percentage points (7.19%) 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%). Sobject to the limits stated in Section 4(0) 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.
MULTlSTATf.: ADJUS1-ABI.E RATE RlDER IUROR Indl"I)--Single family-fnddir Mar MODlflED INSTRUMENT form 3192 1101 (page I af 3 pagn)
(D) Limits on Interest Rafe Changes
The interest rate I am required to pay at the first Change Date will not be greater than
10.440/0 or less than 7.440/0. Thereafter, my interest ratc will never be incrcased or decreased
un any single Change Date by more (han ONE percentage point (l%) from the rate of interest
I have been paying for the preceding six months. My interest rate will never be greater than
13.440/0 or less than 7.440/0.
(E) Effective Date of Changes
My new intcrest rate will become effective on each Change Date. I will pay the amount
of my ncw monthly payment beginning on the first monthly payment date after the Change
Date until the amount of my monthly payment changes again.
(F) NOliee of Changes
The Note Holder will deliver or mail 10 mc 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
indudc 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.
D. TRANSFER OF THE PROPERTY OR A BENEFIC]AL INTEREST ]"1 BORROWER
Unifonn Covenant 18 of the Security Instrument is amended to read as follows:
Transfe-r of the Property or a Beneficial Interest in Borrower. As lIsed in this Section
I R. "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 a 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 Ihis 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 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 Ihis Security Instrument. If Borrower fails to pay these sums prior to
the expiration of this period, Lender may invoke any remedies pennitted by this Security
Instrument without further notice or demand on Borrower.
MUJ"TIST A TE ADJUST ABLE RATE RIDER IUBOK Indu)-.Single family-fnddif /l.b( MODIFUD INSTRUM[NT form 3191 1/01 (poge 2 of.1 paRes)
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Adjustable
Rate Rider.
'v\\ ~'W- ~ b ~~~
MARIE E. FITZGERALD
(Seal)
-Borrower
$/,' //'i~~/r'; .t/
GOE;FFJrEV..{ Fl'fZ RAW
(Seal)
-Borrower
(Seal)
-BorrOWl'r
Mlll.TISTATE ADJUS.TABU; RATE RIDER (UROR Index)hSingle ramily-FNddi~ j\hf MODlnIiD1NSl1WMF:NT Form 3192 1/01 (page 3 af 3 pages)
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 tru
verily believe.
AT0003573
Subscribed and sworn to before m
2006 .
October ,
....., PATRICIA S. WOLF
}. "''';. Commlaion tokJmber 732803
. . My CommIIeIon !;xpIres
'ow Z-LJ-n5'<\_
a~/~ J U~~
Notary Public in and for he
State of Iowa
Exhibit "e"