Loading...
Claim Nationwide Mortgage vs. City of Dubuque Housing C/ ~~ c. i~' ` IN THE IOWA DISTRICT. COURT FOR DUBUQUE COUNTY Nationwide Advantage Mortgage Company, fJkJa Nationwide Home Mortgage Company Plaintiff vs. Michael W. Schick and Lynda A. Schick, husband and wife and City ofDubuque, Housing Services Department ~; o~~~ ~~ ~~ EQUITY NO. ~ l3 1 I ~Q ~ l~C~ ! ~ l ~- PETITION FOR FORECLOSURE OF REAL ESTATE MORTGAGE 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 TWELVE MONTHS (or SIX MONTHS if the petition includes a waiver of deficiency judgment) FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS YOUR RESIDENCE BUT NOT AONE-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 IV~AY PURCHASE AT THE SALE. -3- 5. On May 19, 2000, Dubuque Bank and Trust Company assigned the Note and Mortgage to Nationwide Home Mortgage Company, n/k/a Nationwide .Advantage Mortgage Company. The assignment was filed May 30, 2000 as Document No. 5830-2000 of said office. A copy of the assignment is attached as Exhibit "C". 6. Plaintiff is now the owner and holder of said promissory note and mortgage. 7. The said promissory note and real estate mortgage are conditioned that if default be made in the payment of said note, or any part thereof, that said promissory note shall, at the option of the legal holder thereof, become at once due and collectible, and principal and interest accruing under said promissory note and,mortgage now being in default, and all required notices having been given, the Plaintiff hereby elects to and does, declare the entire sum owing thereunder now due and payable. 8. There is now past due and owing to the Plaintiff under and by virtue of said promissory note and mortgage the sum of $52,247.78, together with interest at the rate of 7.25 percent per annum from and after the 1st day of August, 2006, plus escrow advance of $111.70, MI premium due of $42.28, accrued late charges of $76.88 and miscellaneous fees of $35.17, no part of which has been paid or tendered prior to the commencing of this cause of action. 9. Defendant City of Dubuque, Housing Services Department obtained a mortgage on the above-described real property dated May 19, 2000 in the amount of $5,000.00. -4- This mortgage was filed May 30, 2000 as Document No. 5800-2000 of the Dubuque County, Iowa Records. Said Mortgage is junior and inferior to the lien of Plaintiffs aforesaid first mortgage note and lien by reason of the subordination agreement dated August 11, 2000 and filed August 17, 2000 as Document No. 9591-2000. 10. The lien of Plaintiffs said mortgage is pazamount and superior to any interest in or lien upon the said premises of the Defendants. 11. Plaintiff i.s entitled to the sum of $800.00 for necessary continuation of the abstract of title to the aforesaid premises. 12. Plaintiff hereby waives any rights to a deficiency judgment against the Fefendants. WHEREFORE, Plaintiff prays for in rem judgment against the Defendants Michael W. Schick and Lynda A. Schick in the sum of $52,247.78, together with interest at the rate of 7.25 percent per annum from and after the 1st day of August, 2006, plus escrow advance of $111.70, MI premium due of $42.28, accrued late charges of $76.88 and miscellaneous fees of $35.17 and for the sum of $800.00 for necessary continuation of the abstract and for the costs of this action, including reasonable attorney fees; and Plaintiff prays that said judgment be decreed to be the first lien upon said mortgaged premises from and after the date of the execution of said mortgage, to-wit: May 19, 2000; that the lien upon, or interest in, said mortgaged premises of the Defendants be decreed to be junior and inferior to that of Plaintiffs mortgage; that a Special Execution issue for the sale of said mortgaged premises, or so much thereof as maybe necessary -5- to satisfy said judgment, with interest and costs. Plaintiff further prays that the Court adjudge and decree that if any part of said mortgaged premises be sold that a Sheriffs Deed issue to the purchaser thereof. Plaintiff further prays for such other relief as to the Court seems just and equitable in the premises. ~~~~ David R. Elkin PK2895024 Suite Five 315 East Fifth Street Des Moines, Iowa 50309 Telephone (51 S) 244-3188 ATTORNEY FOR PLAINTIFF ATTORNEY FEE AFFIDAVIT STATE OF IOWA ~ ) ss. COUNTY OF POLK ) I, David R. Elkin, being first duly sworn on oath depose and state that I am a duly licensed and practicing attorney at law in the City of Des Moines, Polk County, Iowa, and I am the attorney for the Plaintiff above named; that there has been and is no agreement, express or implied, between me and any other person, except a practicing attorney engaged with me as an attorney in this cause, for any division or sharing of the fee to be taxed herein, which fee when taxed, shall be as compensation for services actually rendered in this cause. David R. Elkin Subscribed and sworn to before me, a Notary Public in and for the State of Iowa by the said David R. Elkin this G?~--~iay of January, 2007. "~ HARVEY L CRABB COMMISSION N0.720507 •~ MvCOMMISSIONIXP/RES iowA -O Notary Public AP# SCHICK MI~CNAEL !N# 1769588090 May 19, 2000 [Date) NOTE DUBUQUE [City) 2004 WINDSOR AVE,DUBUQUE,IA 52001 (Property Address) 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S. $ 56 , 371.00 "princippal"), plus interest, to the order of the Lender. The Lender is DUBUQUE BANK AND TRUST COMPANY Iowa [State) (this .amount is called . I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder. " 2. INTEREST Interest will be charged on unpaid principal until the full amount of principal has been paid. I will pay interest at a yearly rate of 7.2500 %. The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section 6(B) of this Note. 3. PAYMENTS (A) Time and Place of Payments I will pay principal and interest by making payments every month. I will make my monthly payments on the 1St day of each month beginning on ~ U 1 y 1 , 2000 , I will make these payments every month until I have paid all of the principal and interest and any other charges described oelow that I ma owe. under this Note. My monthly payments will be applied to interest before principal. If, on dune 1 , 030 , I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "Maturity Date." I will make my monthly payments at 1398 CENTRAL AVE . DUBUQUE , IA 52001 or at a different place if required by the Note Holder: (B} Amount of Monthly Payments My monthly payment will be in the amount of U.S. $ 384.55 4. BORROWER'S RIGHT TO PREPAY 1 have the right to make payments of principal at any time before they are due. A payment of principal only is known as a °prepaytent." When I make a prepayment, I will tell the Note Holder in writing that I am doing so. I may make a full prepayment or partial prepayments without paying any prepayment chazge. The Note Holder will use all of my prepayments to reduce the amount of principal that I owe under this Note. If I make a partial prepaymenC, there will be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. 5. LOAN CHARGES If a law, which applies to this loan and which sets maximum loan chazges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (i) any such loan charge shall be reduced by the amount necessary to reduce the charge to. the permitted limit; and (ii) any sums already collected from the which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the principal I owe under this Note or by making a direct payment to me. If a refund reduces principal, the reduction will be treated as a partial prepayment. b. BORROWER'S FAILUI~;E TO PAY AS REQUIRED (A) Late Charge for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of 15 calendar days after the date it is due, I will pay a late charge to the Note Holder. The amount of the chazge will be 5.0000 % 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. MULTISTATE FIXED RATE NOTE -Single Family -FNMA/FHLMC Uniform Instrument 5R (sl~sl.oa Form 3200 12/83 ®" Amended 5791 VMP MORTGAGE FORMS - (8001521.7291 - ~ 1 I f Page 1 of c MW 05/91.04 !niusis: I i I 11 ~~` ~1~'~~'~~I ~~{I ~~~~ ~~l~I~~ I~~ it I `! I EXHIBIT "A" TOGETHER WITH all the improvements now or hereafter erected on the property, and all easements, appurtenances, and fixtures.. now or hereafter a part of the property. All replacements and additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property. " BORROWER COVENANTS that Borrower is lawfully seised of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record: Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record. THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal and Interest; Prepayment and Late Charges. Borrower shall promptly pay when due the principal of and interest on the debt evidenced by the Note and any prepayment and late charges due under the Note. 2. Funds for Taxes and Insurance. Subject to applicable law or to a written waiver by Lender, Borrower shall pay to Lender on the day monthly payments are due under the Note, until the Note is paid in full, a sum ("Funds") for: (a) yearly taxes and assessments which may attain priority over this Security Instrument as a lien on the Property; (b) yearly leasehold payments or ground rents on the Property, if any; (c) yearly hazard or property insurance premiums; (d) yeaz]y flood insurance premiums, if any; (e) yearly mortgage insurance premiums, if any; and (f) any sums payable by Borrower to Lender, in accordance with the provisions of paragraph 8, in lieu of the payment of mortgage insurance prenuums. These items are called "Escrow Items." Lender may; at any time, collect and hold Funds in an amount not to exceed the maximum amount a lender for a federally related mortgage loan may require for Borrower's escrow account under the federal Real Estate Settlement Procedures Act of 1974 as amended from time to time, 12 U.S.C. Section 2601 et seq. ("RESPA"), unless another law that applies to the Funds sets a lesser amount. If so, Lender may, at any time, collect and hold Funds in an amount not to exceed the lesser amount. Lender may estimate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with applicable law. T::e Finds shall be held in an institution whose deposits are insured by a federal agency, instrumentality, or entity (including Lender, if Lender is such an institution) or in any Federal Home Loan Bank. Lender shall apply the Funds to pay the Escrow Items. Lender may not charge Borrower for holding and applying the Funds, annually analyzing the escrow account, or verifying the Escrow Items, unless Lender pays Borrower interest on the Funds and applicable law permits Lender to make such a charge. However, Lender may require Borrower to pay aone-time charge for an independent real estate ;tax reporting service used by Lender in connection with this loan, unless applicable law provides otherwise. Unless an agreement is made or applicable taw requires interest to be paid, Lender shall not be required to pay Borrower any interest or earnings on the Funds. Borrower and Lender may agree in writing, however, that interest shall be paid on the Funds. Lender shall give to Borrower, without chazge, an annual accounting of the Funds, showing credits and debits to the Funds and the purpose for which each debit to the Funds was made. The Funds are pledged as additional security for all sums secured by this Security Instrument. If the Funds held by Lender exceed the amounts permitted to be held by applicable law, Lender shall account to Borrower for the excess Funds in accordance with the requirements of applicable law. If the amount of the Funds held by Lender at any time is not sufficient to pay the Escrow Items when due, Lender may so notify Borrower in writing, and, in such case Borrower shall pay to Lender the amount necessary to make up the deficiency. Borrower shall make up the deficiency in no more than twelve monthly payments, at Lender's sole discretion. Upon payment in full of all sutras secured by this Security Instrument, Lender shall promptly refund to Borrower any Funds held by Lender. If, under paragraph 21, Lender shall acquire or sell the Property, Lender, prior to the acquisition or sale of the Property, shall apply any Funds held by Lender at the time of acquisition or sale as a credit against the sums secured by this Security Instrument. 3. Application of Payments. Unless applicable law provides otherwise, all payments received by Lender under paragraphs 1 and 2 shall be applied: first, to any prepayment charges due under the Note; second, to amounts payable under paragraph 2; third, to interest due; fourth, to principal due; and last, to any late chazges due under the Note. • 4. Charges; Liens. Borrower shall pay all taxes, assessments, chazges, fines and impositions attributable to the Property which may attain priority over this Security Instrument, and leasehold payments or ground rents, if any. Borrower shall pay these obligations in the manner provided in paragraph 2, or if not paid in that manner, Borrower shall pay them on time directly to the person owed payment. Borrower shall promptly furnish to Lender :ll notices of amounts to be paid under this paragraph. If Borrower makes these payments directly, Borrower shall promptly furnish to Lender receipts evidencing the payments. Borrower shall promptly discharge any lien .which has priority over this Security Instrument unless.Borrower: (a) agrees in writing to the payment of 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 of the 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 Property is stibjgct cp;~.~iieti.'yvl~iCh [nay attain priority over this Security Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take one or more of the actions set forth-above within 10 days of the giving of notice. •" ; ;~~ ; .. ~' ;; s Form 3016 9190 ;8A(tA) (95081.1 Page 2 0l 8 _.Y _ Initials: ® , 5. Hazard or Property Insurance. Borrower shall keep the improvements now existing or hereafter erected on the Propeffy insured against loss by fire, hazards included within the term "extended coverage" and any other hazards, including floods or flooding, for which Lender requires insurance.. This insurance shall be maintained in the amounts and for the periods that Lender requires. The insurance carrier providing the insurance shad be chosen by Borrower subject to Lender's approval which shall not be unreasonably withheld. If Borrower fails to maintain coverage described above, Lender may, at Lender's option, obtain coverage to protect Lender's rights in the Property in accordance with paragraph 7. All insurance policies and renewals shall be acceptable to Lender and shall include a standard mortgage clause. Lender shall have the right to hold the policies and renewals. If Lender requires, Borrower shall promptly give to Lender all receipts of paid premiums and renewal notices. In the event of loss, Borrower shall give prompt notice to the insurance carrier and Lender. Lender may make proof of loss if not made promptly by Borrower. Unless Lender and Borrower otherwise agree in writing, insurance proceeds shall be applied to restoration or repair of the Property damaged, if the restoration or repair is economically feasible and Lender's security is not lessened. If the restoration or repair is not economically feasible or Lender's security would be lessened, the insurance proceeds shall be applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. If Borrower abandons the Property, or does not answer within 30 days a notice from bender that the insurance carrier has offered to settle a claim, then Lender tray collect the insurance proceeds. Lender may use the proceeds to repair or restore the Property or to pay sums secured by this Security Instrument, whether or not then due. The 30-day period will begin when the notice is given. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of the payments. If under paragraph 21 the Property is acquired by Lender, Borrower's right to any insurance policies and proceeds resulting front damage to the Property prior to the acquisition shall pass to Lender to the extent of the sums secured by this Security Instrument immediately pt~ior to the acquisition. 6. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal residence within sixty days after the execution of this Secut7ty Instrument and shall continue to occupy the Property as Borrower's principal residence for at least one year after the date of occupancy, unless Leader otherwise agrees in writing, which consent shall not be unreasonably withheld, or unless extenuating circumstances exist which are beyond Borrower's control. Borrower shall not destroy, damage or impair the Property, allow the Property to deteriorate, or commit waste on the Property. Borrower shall be in default if any forfeiture action or proceeding, whether civil or eritninal, is begun that in Lender's good faith judgment could result in forfeiture of the Property or otherwise materially impair the lien created by this Security Instrument or Lender's security interest. Borrower may cure such a default and reinstate, as provided in paragraph 18, by causing the action or proceeding to be dismissed with a ruling that, in Lender's good faith determination, precludes forfeiture of the Borrower's interest in the Property or other material impaitment of the lien created by this Security Instrument or Lender's security interest. Borrower shall al§o be in default if Borrower, during the loan application process, gave materially false or inaccurate infotmation or statements to Lender (or failed to provide Lender with any material infotnlation) 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 tee title to the Property, the leasehold and the fee title shall not merge unless Lender agrees to the merger in writing. 7. Protection oP Lender's Rights in the Property. if Borrower fails to perform the covenants and agreements contained in this Security Insttvment, or there is a legal proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in banlmtptcy, probate, for condemnation or forfeiture or to enforce laws or regulations), then Lender may do and pay for whatever is necessary to protect the value of the Property and Lender's rights in the Property. Lender's actions may include paying any sums secured by a lien which has priority over this Security lnstrument, appearing in court, paying reasonable attorneys' fees and entering on the Property to make repairs. Although Lender may take action under this paragraph 7, Lender does. not have to do so. Any amounts disbursed by Lender under this paragraph 7 shall become additiottal debt of Borrower secured by this Security Insttument. Unless Borrower and lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrower requesting payment. •S. Mortgage Insurance. If Lender required mortgage insurance as a condition of making the loan secured by this Security Instrumert, Borrower shall pay the premiums required to maintain the mortgage insurance in effect. If, for any reason, the mortgage insurance coverage required by Lender lapses or ceases to be in effect, Borrower shall pay the premiums required to obtain coverage substantially equivalent to the mortgage insurance previously in effect, at a cost substantially equivalent to the cost io 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 Form 3016 9/90 -6R11A) (98081.07 Page 3 of 6 Initials: payments may no longer be required, at the option of Lender, if mortgage insurance coverage (in the amount and for the period that .Lender requires) provided by an insurer approved by Lender again becomes available and is obtained. Borrower shall pay the premiums required to maintain mortgage insurance in effect, or to provide a loss reserve, until the requirement for mortgage insurance ends in accordance with any written agreement between Borrower and Lender or applicable law. 9. Inspection. Lender or its agent may make reasonable entries upon and inspections of the Property. Lender shall give Borrower notice at the time of or prior to an inspection specifying reasonable cause for the inspection. Z0. 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 he applied to the sums secured by this Security Instrument, whether or not then due, with any excess paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is equal to or greater than the amount of the sums secured by this Security Instrument immediately before the taking, unless Borrower and Lender otherwise agree in writing, the sums secured by this Security Instrument shall be reduced by the amount of the proceeds multiplied by the following fraction: (a) the total atnount of the sums secured immediately- before the taking, divided by (b) the fair market value of the Property immediately before the taking. Any balance shall be paid to Borrower. In the event of a partial taking of the Property in which the fair market value of the Property immediately before the taking is less than the amount of the sums secured immediately before the taking, unless Borrower and Lender otherwise agree iu writing or unless applicable law otherwise provides, the proceeds shall be applied to the sums secured by this Security Instrument whether or not the sums are then due. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the condemnor offers to make an award or settle a claim for damages, Borrower fails to respond to Lender within 30 days after the date the notice is given, Lender is authorized to collect and apply the proceeds, at its option, either to restoration or repair of the Property or to the sums secured by this Security Instrument, whether or not then due. Unless Lender and Borrower otherwise agree in writing, any application of proceeds to principal shall not extend or postpone the due date of the monthly payments referred to in paragraphs 1 and 2 or change the amount of such payments. 11. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lender to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original .Borrower or Borrower's successors in interest, Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 12. Successors and Assigns Bound; Joint and Several Liability; 'Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 17. Borrower's covenants and agreements shall be joint and several. Any Borrower who co-signs this Security instrument but does not execute the Note: (a) is co-signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property under the teams of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Nate without that Borrower's consent. 13. Loan Charges. If the loan secured by this Security Instrument is subject to a law which sets maximum loan charges, . and ~tiat law'is finall"q interpreted so that the interest or other loan charges collected or to be collected in connection with the loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge under the Note. 14. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by trailing 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. Any notice to Lender shall be given by first class mail to Lender's.'address stated herein or any other address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 15.. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law 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 outer provisions of this Security Instrument or the-Note which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Note are declared to be severable. ' 16. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this Security Instrument. Form 3016 9/90 -6R(IAl !98081.01 Page o of a mitialss: ®' 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 I.eiader's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 18. Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at any time prior to the earlier of: (a) 5 days (or such other period as applicable law tray specify for reinstatement) before sale of the Property pursuant to any power of sale contained in this Security Instrurent; or (b) entry of a judgment enforcing this Security Instrument. Those conditions aze that Borrower: (a) pays Lender all sums which then would be due under this Security Instrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or agreements; (c) pays all expenses incurred in enforcing this Security Instrument, including, but not limited to, reasonable attorneys' fees; and (d) takes such action as Lender may reasonably require to assure that the lien of this Security Instrument, Lender's rights in the Property and Borrower's obligation to pay the sums secured by this Security Instrument shall continue unchanged. Upon reinstatement by Borrower, this Security Instrument and the obligati:~ns 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. Sate of Note; Change of Loan Servicer. The Note or a partial interest in the Note (together with this Security Instrument) may be sold one or more times without prior notice to Borrower. A sale may result in a change in the entity (known as the "Loan Servicer") that collects monthly payments due under the Note and this Security Instrument. There also may be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of the Loan Servicer, Borrower will be given written notice of the change in accordance with paragraph 14 above and applicable law. The notice will state the name and address of the new Loan Servicer and the address to which payments should be made. The notice will also contain any other information required by applicable law. 20. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage, or release of any Hazazdous Substances on or in the Property. Borrower shall not do, nor allow anyone else to do, anything affecting the Property that is in violation of any Environmental Law. The preceding two sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of the Property. Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or other action by any governtental 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" aze those substances defined as toxic or hazardous substances by Envirommental Law and the following substances: gasoline, kerosene, other flammable or toxic petroleum products, toxic pesticides and herbicides; volatile solvents, materials containing asbestos or formaldehyde, and radioactive materials. As used in. this pazagraph 20, "Environmental Law" means federal laws and Laws of the jurisdiction where the Property is located that relate to health, safety or environmental protection. NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows: 21. Acceleration; Remedies. Lender shall give notice to Borrower prior to acceleration following Borrower's breach of any covenant or agreement in this Security Instrument (but not prior to acceleration under paragraph 17 unless applicable law provides otherwise). The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower, by which the default must be cured;; and (d) that Failure to cure the default on or before the date specified in the notice may result in acceleration of the sums secured by thfs Security Instrument, foreclosure by judicial proceeding and sale of the Property. The notice shall fua-ther inform Borrower of the right to reinstate after acceleration and the right to assert in the foreclosure proceeding the non-existence of a default or any other defense of Borrower to acceleration and foreclosure. If the default is not cured on or before the -date specified in the notice, Lender, at its option, may require immediate payment in full of all sums secured by this Security Instrument without further demand and may foreclose this Security Instrument by judicial proceeding. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this paragraph 21, including, but not limited to, reasonable attorneys' Pees and costs of title evidence. 22. Release. Upon payment of all sums secured by this Security Instrument, Lender shall release this Security Instrument without charge to Borrower. vi1+~ -BRIIA) issoei.oi Form 3016 9/90 PagB S of 8 Initials: 23. Waivers. Borrower relinquishes all right of dower and waives all right of homestead and distributive share in and to the Property. Borrower waives any right of exemption as to the Property. 24. Redemption Period. If the Property is less than 10 acres in size and Lender waives in any foreclosure proceeding any right to a deficiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to b months. If the court finds that the Property has been abandoned by Borrower and Lender waives any right to a deticiency judgment against Borrower, the period of redemption from judicial sale shall be reduced to 60 days. The provisions of this paragraph 24 shalt be construed to conform to the provisions of Sections 628,26 and 628.27 of the Code of Iowa. 23. Rders to this Security Instrument. If one or more riders are executed by Borrower and recorded together with this Security Instrument, the wvenants and agreements of each such rider shall be incorporated into and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s) were a part of this Security Instrument. [Check applicable box(es)] [~ Adjustable Rate Rider ~ Condominium Rider [] 1-4 Family Rider [~ Graduated Payment Rider ~ Planned Unit Development Rider 0 Biweekly Payment Rider [] Balloon Rider ~ Rate Improvement Rider ~ Second Home Rider [] VA Rider 0 Other(s) [specify) BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this Security Instrument and in any rider(s) executed by Borrower and recorded with it. ,. Witnesses: (Seal) MICHA L W SCHICK -Borrower (Seal) LYNDA A SCHICK -Borrower (Seal) (Seal) -Borrower -Borrower STATE OF IOWA, DUBUQUE County ss: r Or: this 19th day of Mdy 2Q~~ ,before me, a Notary Public in the State of Iowa, • personally appeared MICHAEL W SCHICK and LYNDA A SCHICK, husband and wife :. ~ , to me personally known to be the person(s) named in and who executed the foregoing instrument, and acknowledged that they executed the same as their voluntary act and deed. My Commission Expires: ,~ Notary Public in and for said County and State • ~ Susan K. Duehr •SR(tA} 195C6).O1 Psge a or s Form 3016 9190 ~. ~. 5830-00 ' ZDDO l~AY 30 AM I I = a4 ~O ~:.:: ~ 4ir"yT'ri'1' FtYNN TNURF GIB •_~ _. COUNTY EioyR~~DEFR E~ ~~ _Prieparer ;;Laurie Guy (a Dubuque Bank & Trust Co. 1398 G(~~~~ ~~~. 'Dub~que IA 52001 319-589-2 •~._.. ttr(ormat{on: . ~ Individual's Name Street Address Cily Telephone # -, ~ !•~- `'-;~ ~ ~ -- .... ASSIGNMENT OF MORTGAGE NOTE AND MORTGAGE . -~ _, .,, OIAf Akt B`r`• TfiiESE PRESENT: r~ at ~~~ Dubuque' Bank & Trus t Company , a corporation duly organized and existing under the laws of the State e~ Iowa ,Assignor, in consideration of the sum of Fifty-six Thousand Three Hundred Seventy-one and ntlS/100 DOLLARS ($ 56,371.00 ) in hand paid by Nationwide Home Mortgage Company Assignee, recaipi whereof is hereby ackncwledgad, does hereby sell, assign, transfer and set over, to the Assignee, its successors and assigns, that certain mortgage executed by Michael W. Schick and Lynda A. Schick, husband and wife as Mortgagor(s) bearing the date of the 19th day of May 2 ,filed for record in the Office of the County Recorder of the County of Dubuque ,State of Iowa, on the 30th day of Mgjr 2000 ,and recorded in Book ,Page , as Document Number 582- , of the Dubuque County, Iowa records. and the Mortgage Note re{ating therein. IN WITNESS WHEREOF, this instrument is executed this 19tlt1ay of May 2000 ;i-~;.. ~..,;~ ~.i; ~a.i.'t;2Y~~,~.,, , Dubuque Bank & Trust Company By ~ r~Ga {Name) Michael ccullough Its Vice President (SEAL) By (Name) Ja Steele Its Vice President STATE QF IOWA ) • )ss COUNTY OF Dubuque ) On this 19 th day of May 2000, before me, the undersigned Notary Public in and for said County and State, personally appeared Michael J. Mccullough- & Jane Steele , to me personally known, who being by me duly sworn did say that they are the Vice President _ and Vice President respectively of said corporation, that (no seal has been procured by said) (the seal affixed hereto is the seal of said) corporation; that said instrument was signed (and sealed) on behalf of saie~ corporation by authority of its Board of - girectors, and that the said Vice Presidents as such officers acknowledge the execution df said instrument to be the voluntary act and deed of said corporation, by it and by t em volun arily executed. • ~•: _.^,.HEILACiERtAAINB ' IUIY COA1M•SSION 17tPIRE~ .~ ~ ~ Gt/ ~ Novelt>ber14,2001) ~ otary Public ~... ~ • ,, ,State of Iowa ~~ My Com ssion Expires: 1/~/c`.~~ t~ EXHIBIT "C" iFA 2000 A, 8, C MRB 15 (C) Notice of Default If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the full amount of principal which has not been paid and all the interest that I owe on that amount. That date must be at least 30 days after the date on wltich the notice is delivered or mailed to me. (D) No Waiver by Note Holder Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above, the Note Holder will still have the right to do so if I am in default at a later time. (E) Payment of Note Holder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note. to the extent not prohibited by applicable law. Those expenses include, for example, reasonable attorneys' fees. 7. GIVING C+F NOTICES Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the .Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that different address. S. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay ail of the amounts owed under this Note. 9. WAIVERS I and any other person who has obligations under this Nate waive the rights of presentment and notice of dishonor. "Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of dishonor" means the right to require the Note Holder to give notice to other persons that amounts due have not been paid. 10. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust or Security Deed (the "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses which might result if I do not keep the promises which I make in this Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follows: Transfer oP the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person), without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exercise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice t less than 30 days from the date the notice mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this-period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. _. (Seal) -Borrower SSN (Seal) -Borrower Pay to the order of SSN: Nationwide Home Mortgage Company without recourse. Dubuqu ank & Tru by: Ja Steele, Vice President (Seal) MICHA W SCHICK -Borrower . -~X~J~~ (Seal) LYN A A SCHICK -Borrower -RJR 191051.04 Pape 2 of Z m jSign Original Onlyj Form 3200 12/83 ~ 5 X00 2DU0 MAY 30 QM 1! ~ 04 Prepared by: Laurie Guy DUBUQUE BANK AND 1398 CENTRAL AVE, (319) 584-2512 TRUST COMPANY DUBUQUE, IA 52001 AP# SCHICK MICHAEL LN# 17695$8090 M~JRTGAGE ~~~ PURCHASE THIS MORTGAGE ("Security Instrument") is given on May 19 , 2000 MICHAEL W SCHICK and LYNDA A SCHICK, husband and wife ("Borrower"). This Security Instrument is given to DUBUQUE BANK AND TRUST COMPANY which is organized and existing under the laws of THE STATE OE IOWA address is 1398 CENTRAL AVE, DUBUQUE. IA 52001 The mortgagor is and whose ("Lender"). Borrower owes Lender the principal sum of Fifty Six Thousand Three Hundred Seventy One and no/100 Dollars (U.S. $ 56 , 371.00 ~ ). This debt is evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for monthly payments, with the full debt, if not paid earlier, due and payable on June l . 2030 This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with interest, and all renewals, extensions and nwdifications of the Note; tb) the payment of all other sums, with interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, grant and convey to Lender the following described property located in DUBUQUE County, Iawa: THE NORTHWESTERLY 66.53 FEET OF LOT 36 IN COOK'S ADDITION TO THE CITY OF DUBUQUE, IQWA, 1850,. IN THE CITY OF DUBUQUE, IOWA. ACCORDING TO THE RECORDED PLAT THEREOF. _ (THIS IS A PURCHASE MONEY MORTGAGE) which has the address of 2004 WINDSOR AVE, DUBUQUE, Iowa 52001 [zip code] ("Property Address"); IOWA-Single Family-FNMA/FHLMC UNIFORM INSTRUMENT Form 3016 9/90 -6R(fA) ts6o6-.01 Amended 5/91 ® VMP MORTGAGE FORMS - (1100)621-7291 Page 1 of 6 MW 06/9501 Initials: jSpace Above This Line For Recording Datal (Street, City], ~~_= e. I!II~I~~RId91~~~I~IIN ftiAiN'f Ft.'rN'~ i'IiL'Rl_0~1 COUNTY RECCRt7El2 DUBUQUE CO., fOtHA FEES THE IOWA STATE BAR ASSOCIATION Official Form No. 301 David R. Elkin ISBA # 8930 (hc) FOR THE LEGAL EFFECT OF THE USE OF THIS FORM, CONSULT YOUR LAWYER / /~~/~ //~ ! V ~Z ~~ ~ ?'t~r~s DI TRICT COURT ~ : ___ o THE IOWA S •. A r DUBUQUE COUNTY yS O S~C I A~} Nationwide Advantage Mortgage Company, LAW f/k/a Nationwide Home Mortgage Company EQUITY ^x No.9,C3/~ F~G~!/US 63/ Plaintiff(s), DATE PETITION FILED: r ~ d VS. Michael W. Schick and Lynda A. Schick, husband and wife and City of Dubuque, Housing Services Department ORIGINAL NOTICE Defendant(s). TO THE ABOVE-NAMED DEFENDANT(S): You are notified that a petition has been filed in the office of the clerk of this court naming you as the defendant(s) in this action. A copy of the petition (and any documents filed with it) is attached to this notice. The name(s~ and address(esj of the attorneys} for the plaintiff(s) (is) (~r-e) David R. Elkin, 315 East Fifth Street, Suite Five Des Moines, Iowa 50309-1916 The attorney's(s'j phone numbers} (is) (sl-e) 515-244-3188 ; facsimile number(s) 515-244-3189 . 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 your motion or answer with the Clerk of Court for 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) 589-4433 (If you are hearing impaired, call Relay Iowa TTY at 1-800-735-2942.) (SEAL) °~_, ._` _ ~~ CLERK OF COURT Dubuque County Courthouse Dubuque ,Iowa 52001 IMPORTANT: YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS © The Iowa State ear Association 2003 301 ORIGINAL NOTICE FOR PERSONAL SERVICE IOWADOCS ® Revised January, 1999