HomeMy WebLinkAbout2002 Lawsuits - S
Lynch, Greenlea & Michael, L.L.P.
ATTO YS Alt4Ir
Lawrence L. Lynch 1402 Willow Creek Court
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Stephen N. Greenleaf ,;4 ' P.O. Box 1757
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Robert S. Michael Zhu �' , Iowa City, Iowa, 52244-1757
(319) 351-1056 Telephone
GvS �� /`� �•P�.rti
Dai Gwilliam � l�rt d � (319) 338-6834 Facsimile
June 28, 2002
Attorney Eleanor Dilkes r",,
City Attorney O
410 E. Washington Street
Iowa City, Iowa 52240 ' "
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Re: U of I Community Credit Union v. Shepherd Estate, et al r- --
Our file #285-3526cp
L ••
Dear Ms. Dilkes
Enclosed please find a copy of the Original Notice and Petition in Equity in the above-
captioned matter. Also enclosed please find an Acknowledgement of Service. It is my
understanding that you will accept service on behalf of the City. Please sign where
indicated and return the Acknowledgement to me in the envelope provided.
Thank you for your assistance in this matter.
Sincerely,
LYNCH, GREENLEAF & MICH • L, L.L.P.
Dai Gwilliam �,, "i‘G�
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THE IOWA STATE BAR ASSOCIATION ROBERT S.MICHAEL ISBA#9240 FOR THE LEGAL EFFECT OF THE USE OF
Official Form No.301 THIS FORM,CONSULT YOUR LAWYER
1 7
��'s"r° THE IOWA DISTRICT COURT
',��,Astoa JOHNSON COUNTY
UNIVERSITY OF IOWA COMMUNITY CREDIT
UNION LAW 0
EQUITY EX No. ,CA/OiZ '77
Plaintiff(s),
DATE PETITION FILED: G 7 D 7
VS.
ESTATE OF ELAINE K. SHEPHERD, JAMES
A. SHEPHERD AND NED A. SHEPHERD,
fiduciaries; JOHN R. SHEPHERD, CITY ORIGINAL NOTICE
OF IOWA CITY, IOWA; ROBERT CARPENTER,
JOHNSON COUNTY SHERIFF: STATE OF TOW ,
and IOWA DEPARTMENT OF REVENUE AND FINANCE, U
Defendants. n �_
TO THE ABOVE-NAMED DEFENDANT(S): r - -r-)
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(es)of the attomey(s)for the plaintiff(s) (tis)(are)
Robert S. Michael,and Dai Gwilliam,Lynch,Greenleaf&Michael,L.L.P., 1402 Willow Creek Court,P.O.Box
1757,Iowa City,Iowa 52244
.
' The attorney's(s')phone numbers)(is)fare)(319)351-1056 ;
facsimile number(s) (319)338-6834
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 Johnson
County, at the county courthouse in Iowa City
Iowa. If you do not,judgment by default may be rendered against you for the relief demanded in the petition.
If you require the assistance of auxiliary aids or services to participate in court because of a disability,
immediately call your district ADA coordinator at - 3 )GI- 3ql$- SqZ0 X ZOO
(If you are hearing impaired, call Relay Iowa TTY at 1-800-735-2942.) LODEMA BERKLEY
(SEAL) illi 6fr1741
/
CLERK OF COURT
I Johnson County Courthouse
Iowa City , Iowa 52240
IMPORTANT: YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS
•-
I-ft
IO The IowaADOCS•State ear Association 2001 301 ORIGINAL NOTICE FOR PERSONAL SERVICE
IOW
IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY
UNIVERSITY OF IOWA COMMUNITY )
CREDIT UNION, )
NO. ECQVO l� K7 7
Plaintiff, )
)
vs . )
THE ESTATE OF ELAINE K. SHEPHERD, ) PETITION IN EQUITY
JAMES A SHEPHERD AND NED A. )
SHEPHERD, FIDUCIARIES; JOHN R. )
SHEPHERD; CITY OF IOWA CITY; )
ROBERT CARPENTER, JOHNSON COUNTY )
SHERIFF; STATE OF IOWA; IOWA DEPT. )
OF REVENUE AND FINANCE, )
Defendants . ) - --3
COMES NOW, Plaintiff University of Iowa Communit -
Credit Union by and through its attorneys, Robert S _
Michael and Dai Gwilliam of Lynch, Greenleaf & Michael ,
L. L. P. , and in support of its Petition in Equity states :
-
COUNT I F--
MORTGAGE FORECLOSURE -" —
NOTICE
THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPTION.
THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL
OCCUR PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH
THE COURT A WRITTEN DEMAND TO DELAY THE SALE . IF YOU FILE
A WRITTEN DEMAND, THE SALE WILL BE DELAYED UNTIL TWELVE
MONTHS (or SIX MONTHS if the petition includes a waiver of
deficiency judgment) FROM ENTRY OF JUDGMENT IF THE
MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY OR
TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF
JUDGMENT IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR
IS YOUR RESIDENCE BUT NOT A ONE-FAMILY OR TWO-FAMILY
DWELLING. YOU WILL HAVE NO RIGHT OF REDEMPTION AFTER THE
SALE. THE PURCHASER AT THE SALE WILL BE ENTITLED TO
IMMEDIATE POSSESSION OF THE MORTGAGED PROPERTY. YOU MAY
PURCHASE AT THE SALE.
1 . Plaintiff is a credit union lawfully doing business
with its principal place of business in Iowa City, Johnson
County, Iowa.
2 . The property that is the subject of this litigation
is in Johnson County, Iowa.
3 . The last known addresses of the executors of the
Defendant Estate are Ned Shepherd, 1530 25th St . ,
Bettendorf, IA 52722 , and James Shepherd, 5392 16th St . N.E.
Solon, IA 52333 .
4 . The last known address of the Defendant John R.
Shepherd is 2044 Tanglewood St . , Iowa City, IA 52245 .
5 . Defendant City of Iowa City is joined in this
action as it may claim some right, title, or interest in
the property which is subject to this action because`of a '
0
judgment lien entered on 1/15/99 against John Roger ?r
I
Shepherd in Johnson County Case No. CISC047182 in the:,-)
amount of $100 fine and $41 . 00 costs.
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6 . Defendant Robert Carpenter, Sheriff of Johnson
County, is joined in this action as he may claim some
right, title, or interest in the property which is subject
to this action because of a judgment lien entered on
1/20/99 against John R. Shepherd in Johnson County Case No.
LACV058024 in the amount of $112 . 98 costs, and a second
judgment lien entered on 8/21/97 against John R. Shepherd
•
in Johnson County Case No_ LACV058067 in the amount of
$117 .40 costs . (The abstract notes that ICIS now shows
$478 . 10 costs due . )
7 . Defendant State of Iowa is joined in this action as
it may claim some right, title, or interest in the property
which is subject to this action because of the following
judgment liens :
a. entered on 11/19/97 against John Roger
Shepherd in Johnson County Case No. SMSM018136 in the
amount of $50, $15 surcharge, and for $35 costs.
b. entered on 12/31/97 against John Roger
Shepherd in Johnson County Case No. ARAP046048- fn-, the
"
amount of $50 costs. -n
c. entered on 3/18/98 against John Roger Shepherd F-1
}ice l-
in Johnson County Case No. SMSM017784 in the apaountrof
$75, $22 . 50 surcharge, and for $35 costs .
d. entered on 5/5/97 against John Roger Shepherd
in Johnson County Case No. ARAP047438 in the amount of
$50 costs .
e. entered on 3/20/02 against John Roger Shepherd
in Johnson County Case No. OWCR059165 in the amount of
$1500 fine, $460 surcharge, and for $173 . 40 costs .
•
•
f . entered on 3/21/02 against John Roger Shepherd
in Johnson County Case No. SMSM038895 in the amount of
$25 costs .
g. entered on 3/21/02 against John Roger Shepherd
in Johnson County Case No. SRCR060512 in the amount of
$100 attorney fees, $30 surcharge, and for $30 costs .
h. entered on 3/22/02 against John Roger Shepherd
in Johnson County Case No. STWG173884 in the amount of
$15 costs .
8 . Defendant Iowa Department of Revenue and Finance is
joined in this action as it may claim some right , title, or
interest in the property which is subject to this action
because of a tax lien recorded January, 17, 1990 in Book
1100, Page 376, for individual income tax assessed to John
R. Shepherd, and for any extensions of this tax lien, or
for any other tax liens that may be extant . _
O_
9. On or about April 29, 1993 , Decedent Elaine ;K.n
Shepherd and Defendant John R. Shepherd executed and n (.11
Ill
delivered to Plaintiff a Promissory Note (hereinafter, "Note Li
1") which is attached hereto as Exhibit "A" and ff
incorporated herein by this reference.
10 . On or about May 1, 1996, the Decedent Elaine K.
Shepherd and Defendant John R. Shepherd executed and
delivered to Plaintiff an extension on Note 1 which is
attached hereto as Exhibit "B" and incorporated herein by
this reference .
11 . On or about May 1, 1999, the Decedent Elaine K.
Shepherd and Defendant John R. Shepherd executed and
delivered to Plaintiff an extension on Note 1 which is
attached hereto as Exhibit "C" and incorporated herein by
reference.
12 . To secure Note 1, Decedent Elaine K. Shepherd, and
Defendant John R. Shepherd on or about April 29, 1993
executed and delivered to Plaintiff a written Mortgage
(hereinafter "Mortgage 1" ) creating a first and prior lien
on the real estate described therein, a copy of which is
attached hereto as Exhibit "D" , and incorporated herein by ,
0)
this reference. Mortgage 1 was duly filed for recor. 'p3. (._.
May 4 , 1993 in Book 1536 , Page 161 of the Records of- the
Recorder for Johnson County, Iowa, and encumbers th --
following real estate: o
Commencing at the Northwest corner of Lot 10 of Yocum
Subdivision in the North half of the Northeast and
Northwest Fractional Quarters of the Northwest Quarter
of Sec . 3 , Twp. 79 N. , R. 6 West of the 5th P.M. , ;
thence S 13 °56' 00" E 80 feet to the Point of
Beginning; thence S 89°56' 00"E 32 feet; thence
N40°19' 00" E39 . 5 feet; thence S89°56' 00" E 126 . 90 feet
to the East line of said Lot 10; thence S 1°27' 00" E
97 . 50 feet to a point on the East line of said Lot 9
which is 24 . 93 feet from the Northeast corner of said
Lot 9; thence E 87°13 ' 00" W, 168 . 35 feet to a point on
the west line of said Lot 9 which is 34 . 27 feet from
,
the Northwest corner of said Lot 9; thence N 13°56' 00"
W 78 . 00 feet to the point of beginning.
13 . Defendants The Estate of Elaine K Shepherd and
John R. Shepherd are now delinquent in their payments on
Note 1 and Mortgage 1, and after crediting the amounts paid
on Note 1 and Mortgage 1 there is now due and owing
Plaintiff the following:
A. Unpaid principal balance as of April 25, 2002 of
$63 , 730 .39;
B. Interest as provided to April 25, 2002 in the
amount of $1241 . 01 .
C. Interest as provided from and after April 25 to
the date of filing herein accrued at the rate of 6 . 375% per
annum in the amount of $11 . 13 per day.
14 . On or about October 24, 1997, the Decedent Elaine
K. Shepherd executed and delivered a home equity line of
credit (hereinafter "Note 2") to Plaintiff a copy of _which
is attached hereto as Exhibit "E" and incorporated herein
by this reference.
15. To secure Note 2 , the Decedent Elaine K. Sphercl
executed and delivered to Plaintiff a written Mortgage
(hereinafter "Mortgage 2") creating a lien on the real
estate described therein which is the same real estate
described in and covered by Mortgage 1 subject to this
action and described above in paragraph 12 . A copy of
Mortgage 2 is attached hereto as Exhibit "F" and
incorporated herein by this reference. Mortgage 2 was duly
filed of record on February 4 , 1998 in Book 2416, Page 93
of the Records of the Recorder for Johnson County, Iowa.
16 . Defendant The Estate of Elaine K. Shepherd is now
delinquent in its payments on Note 2 and Mortgage 2, and
after crediting the amounts paid in said Note 2 and
Mortgage 2 there is now due and owing Plaintiff the
following:
A. Unpaid principal balance as of April 25, 2002 of
$25, 036 . 01 .
B. Interest as provided to April 25, 2002 in the
amount of $575 . 83 , plus late fees of $74 . 99 .
C. Interest as provided from and after April- 25
2002 to the date of filing herein accrued at the rate of 5% =r-
- u1
per annum in the amount of $3 .43 per day. _ :
17 . Plaintiff is the owner and holder of the Nis and
Mortgages referred to herein.
18 . Defendants John R. Shepherd and/or the Estate of
Elaine Shepherd are the owners of the real estate subject
to this action
19 . Defendant John R. Shepherd is in possession of the
real estate subject to this action
•
20 . Plaintiff' s mortgages are superior and paramount
to all interests of all Defendants in the real estate
subject to Plaintiff' s above-described mortgages .
21 . The Mortgages provide in the event of default and
foreclosure that Plaintiff' s attorney fees shall be added
to the mortgage debt . Plaintiff' s attorneys attach their
affidavit for such fees as required by statute which is
attached hereto as Exhibit "G" and incorporated herein by
this reference . Plaintiff requests such attorney fees in
this matter.
22 . The Mortgages and Notes provide in the event of
default that Plaintiff may procure a continuation of the
abstract, pay taxes and insurance and add such amounts to
the mortgage debt . Plaintiff requests that any such
expenses incurred while this action is pending be addfd to
the mortgage debts and included in the judgments entered
f
herein. _n
23 . In accordance with the provisions of the Note and !
Mortgages Plaintiff has heretofore declared and hereby
declares the entire indebtedness thereunder immediately due
and payable.
24 . In accordance with the provisions of said Notes and
Mortgages Plaintiff hereby elects to foreclose on said
mortgages .
•
25 . None of the Defendants are or have been at any
time during the proceeding six months members of any of the
Armed Forces of the United States of America and are not
entitled in any way or manner to the benefit of relief
provided for by the Soldiers and Sailors Relief Act .
26 . The real estate that is the subject of this
litigation is not agricultural property as defined in Iowa
Code §535 . 13
27 . Plaintiff elects to foreclose without redemption
under Iowa Code §654 . 20 through §654 .26 . Therefore, the
right of redemption after the foreclosure and sale is
eliminated.
28 . The Plaintiff hereby waives its right to a - r ,
--1
deficiency judgment . k La
WHEREFORE, Plaintiff prays for judgment agains-b.:the U
Defendants The Estate of Elaine Shepherd and John R�
Shepherd and in rem against the above-described real estate
on loan 1 for $64 , 971 .40 plus interest on the $63 , 730 . 39
principal portion thereof at the rate of $11 . 13 per day
from and after April 25, 2002 to the date of the filing of
this Petition plus statutory interest on said judgment from
and after the date of filing of this Petition plus all
reasonable attorney fees and expenses for abstracting,
insurance and taxes and the costs of this action.
Plaintiff further prays for judgment against
Defendants The Estate of Elaine Shepherd and for judgment
in rem against the above-described real estate on loan 2
for $25, 686 . 84 together with interest on the $25, 036 . 01
principal portion thereof at the rate of $3 .43 per day from
and after April 25, 2002 to the date of the filing of this
Petition, plus statutory interest on said judgment from and
after the date of filing this Petition plus all reasriable
^1
attorney fees, abstracting expenses, taxes, insurance anc1
�..
the costs of this action.
PLAINTIFF FURTHER PRAYS that said Mortgages bey
established as first and prior lien against the real estate
above described and as superior and paramount to the
interests, lien, and claims of each and all Defendants and
that said Mortgages be foreclosed and all claims, rights,
title, and interest of the Defendants in this suit, and
each of them, in or to or upon said real estate, may be
decreed to be junior and inferior to the rights and lien of
this Plaintiff, and that the right, title, and interest of
the Defendants , and each of them be forever barred and
foreclosed.
PLAINTIFF FURTHER PRAYS that special execution may
issue for the sale of said mortgaged real estate or so much
thereof as is necessary to satisfy Plaintiff ' s judgment,
•
together with interest, cost, and accruing costs, to
satisfy the judgment to be entered herein.
PLAINTIFF FURTHER PRAYS that in the event the
Defendants file a demand for delay of sale herein, the
execution sale be delayed for a period of not more than two
months or six months as applicable from the entry of
judgment .
PLAINTIFF FURTHER PRAYS that if possession be not
immediately surrendered to the grantee in the Sheriff Deed
to be issued under said execution, a writ of possession may
be issued directing the Sheriff of this county to put such
grantee in possession of the mortgaged premises .
PLAINTIFF FURTHER PRAYS that in the event Plaintiff is
required to advance any further sums for taxes or insurance
upon the above-described real estate, Plaintiff be given an
additional lien against the real estate for the amouii
advanced. = (xi
-77
PLAINTIFF FURTHER PRAYS that upon further application = ,
by Plaintiff a receiver be appointed to take charge of tfr
mortgaged premises at once and to hold possession of the
same until the debt is fully paid and that all rents and
profits derived from said premises be collected and applied
by the receiver toward the satisfaction of plaintiff 's
judgment .
PLAINTIFF FURTHER PRAYS for such other and further
relief as may be just and equitable in the premises .
LYNCH, GREENLEAF & MICHAEL, L.L.P.
k.
400 By
Robert S. Michael 09240
By `/
Dai ' ill '`m 016244
1402 Will.w Creek Court
P.O. Box 1757
Iowa City, Iowa 52244
(319) 351-1056
(319) 338-6834 FAX
ATTORNEYS FOR U OF I COMMUNITY
CREDIT UNION
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EXHHIBIT "E"
ATTORNEYS ' FEE AFFIDAVIT
State of Iowa, County of Johnson, ss :
The undersigned, attorneys of record for the Plaintiff
herein, do solemnly swear or affirm that there is no
contract, agreement or arrangement, either oral or written,
express or implied, contemplating any division of
compensation for services rendered in the above entitled
proceedings or participation of such compensation, directly
or indirectly, by any other persons, firm or corporation
with such attorneys except other legal counsel in a regular
and bona fide law partnership with or associated with the
undersigned in the above entitled matter, or jointly
serving with them, as attorneys, in relation to these
proceedings . -
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Robert S. Mich. :l =-cm c.n
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Dai Gwil am ui
Subscribe and sworn to or affirmed before me this k
day of (n.Q,� , 2002 .
_
JgL
Notary Public in and for Iowa
sA. JULIE B. LYNCH
2 COMMISSION# 114588
» MY COMMISSION EXPIRES
IOWA 40 I y ` 0S
CLOSED END FIXED RATE/BALLOON (J _
BALLOON MORTGAGE NOTE
UNIVERSITY OF IOWA COMMUNITY CREDIT UNION ,
500 IOWA AVENUE ?�'/ ----'�
P.O.BOX 2240 J_._11, 1 1
IOWA CITY,IOWA 52244-2240 _.,
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April 29th , 19 93 IOWA CITY IOWA �i i
(City) (State)
2044 Tanglewood, Iowa City, Iowa 52745
/.
(Property Address) � •�
D t7
(5.1
1. BORROWER'S PROMISE TO PAY
In return for a loan that I have received,I promise to pay U.S. $76,000.00=(this amount is called"principal"),
plus interest,to the order of the Lender. The Lender Is the University of Iowa Community Credit Union,a/k/a U of I
Community Credit Union. I understand that the lender may transfer this Note. The Lender or anyone who takes
this note by transfer and who Is entitled to receive payments under this Note is called the'Note Holder."
2. INTEREST
Interest will be charged on unpaid principal until the full amount of principal has been paid. I will pay Interest at a
yearly rate of 6.25 •96.
The Interest rate required by this Section 2 of this Note is the rate I will pay both before and after any default
described In Section 6(81 of this note.
3. PAYMENTS
IA) Time and Place of Payments
I will pay principal and Interest by making payments every month.
I will make my monthly payments on the first day of each month beginning on June 1st,
1993. I will make these payments on the first day of every month thereafter until I have paid all
of the principal and interest and any other charges described below that I may owe on this Note,except that a
balloon payment of SEVENTY—TWO TIIOSUAND THREE HUNDRED FIFTY—SIX&A1/100 DOLLARS(072356.81)
shall be due and payable on the first day of . May 19 96 . My monthly payments will be applied
to interest before principal.If on May 1st , 19 96 ,I still owe amounts under this Note,I will pay
these amounts in full on that date which is called the'maturity date.'
I will make monthly payments at U of I COMMUNITY CREDIT UNION ,or at a different place if
required by the Note Holder.
(81 Amount of Monthly Payments
Each of my monthly payments will be in the amount of U.S. $502.00
4. BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal at any time before they are due. A payment of principal only is
known as a'prepayment." When I make a prepayment,I will tell the Note Holder in writing that I am doing so.
I may make a full prepayment or partial prepayments without paying any prepayment charge. The Note Holder will
use all of my prepayments to reduce the amount of principal that I owe under this Note. If I make a partial
prepayment,there will be no changes in the due dates of my monthly payments after the first Change Date
following my partial prepayment. However,any reduction due to my partial prepayment may be offset by an
interest rate Increase.
5. LOAN CHARGES
If a law,which applies to this loan and which sets maximum loan charges,is finally interpreted to so that the
interest or other loan charges collected or to be collected in connection with this loan exceed permitted limits,
then: (i)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted
limits;and(ii)any sums already collected from me which exceeded permitted limits will be refunded to me. The
Note Holder may choose to make this refund by reducing the principal I owe under this Note or my making direct
payment to me. If a refund reduces principal, the reduction will be treated as partial prepayment.
6. BORROWER'S FAILURE TO PAY AS REQUIRED
IA) Late Charges for Overdue Payments
If the Note Holder has not received the full amount of any monthly payment by the end of ten(10)calendar days
after the date it is due,I will pay a late charge to the Note holder. The amount of the charge will be n/a %of
my overdue payment of principal and interest or that amount which is legally permissible under Iowa law. I will pay
this late charge promptly but only once on each late payment.
(8) Default
If I do not pay the full amount of each monthly payment on the date it is due,I will be In default.
IC) Notice of Default
If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount
by a certain date, the Note Holder may require me to pay immediately the full amount of principal which has not
been paid and all the Interest that I owe on that amount. That date must be at least 30 days after the date on
which the notice is delivered or mailed to me.
ID) 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.
10/01/88
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CLOSED END FIXED RATE/BALLOON
IE) Payment of Note Holder's Costs and Expenses
If the Note Holder has required me to pay immediately in full as described above,the Note Holder will have the
right to be paid back by me for all of its costs and expenses in enforcing this note to the extent not prohibited by
applicable law. Those expenses include,for example,reasonable attorneys' fees.
7. GIVING OF NOTICES
Unless applicable law requires a different method,any notice that must be given to me under this Note will be
given by delivering it or by mailing it by lirst class mail to me at the address under my signature below 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 I lolder under this Note will be given by mailing it by first class mail to
the Note Holder at the address stated in;action 31A1 above or at a different address if I am given a notice of that
different address.
B. 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 guarantor,surety,or en,iurser of this Note,is also obligated to keep all of the promises made in
this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of
us together. This means that any one of us may be required to pay all of the amounts owed under this Note.
9. WAIVERS
I and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor.
"Presentment"means the right to require Ike Pone!lolder to demand payments of amounts due. "Notice of
dishonor"means the right to require the Note Itulder to give notice to other per suns that amounts due have not
been paid.
10. PRINCIPAL RESIDENCE
Borrowerlsl agree that the BORROWERS S I AI EMEN I UNDER OATH,COVENAN I AND INDUCEMENT
AGREEMENT,attached hereto,is incorporated its its entirety in this Note.
11. UNIFORM SECURED NOTE
This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given
to the Note Holder under this Note,a Mortgage.,Deed of Trust or Security Deed(the"Security Instrument"),dated
the same date as this Note, protects the Note I lolder horn 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 payment in full of all amounts I owe under this Note. Some of those conditions are described as
follows:
A. Transfer of the Property or a Dnneficial Interest in Borrower. If all or any part of the Property or any
interest in it is sold or transferred(or it a beneficial interest in Borrower is sold or transferred and Borrower Is
not a natural person)without Note I lulder's prior written consent,Note!folder may,at its option,require
immediate payment in full of all sums secured by this Security Instrument.
B. Principal Residence. If 1 breach paragraph 10 of this Note,Nule Holder may,at Its option,require
immediate payment in full of all sums secured by the Security Instrument. The Note and Mortgage may be
amended by mutual consent of Notclrolder arid Borrowers.
12. DISCLOSURE
THIS LOAN IS PAYABLE IN FULL AT MA1 URII Y. YOU MUST REPAY 11 IE EN I IRE PRINCIPAL BALANCE OF THE
LOAN AND UNPAID INTEREST THEN Dl1F. TI IE CREDIT UNION IS UNDER NO OBLIGATION TO REFINANCE THE
LOAN AT THAT TIME. YOU WILL,TI-IEREro11F,UE REOUIRED TO MAKE PAYMENT OUT OF OTHER ASSETS
THAT YOU MAY OWN,OR YOU WILL I1AVE 10 FIND A LENDER,WI!ICI!MAY BE THE CREDIT UNION YOU HAVE
THIS LOAN WITH,WILLING TO LEND YOU 111E MONEY. IF YOU REFINANCE THIS LOAN AT MATURITY,YOU
MAY HAVE TO PAY SOME OR ALL OF II IE CLOSING COSTS NORMALLY ASSOCIATED WITH A NEW LOAN
EVEN IF YOU OBTAIN REFINANCING FROM 111E SAME CREDIT UNION.
13. ENFORCEABILITY
If any term in this Note or the mortgage securing this Note violates any law or for some other reason is not
enforceable, that term will not be a part of this Note. However,the other terns of this Note will remain effective.
This note is subject to Iowa law and any applicable Federal law. If enactment or expiration of applicable laws has
the effect of rendering any provision of this Note or the mortgage securing this Note unenforceable according to its
terms,Note Holder,at its option,may require immediate payment in full or all sums loaned in connection with this
Note.
WITNESS THE HANDISI AND SEAL(S)OF TI IE UNDERSIGNED /
!i.r..r' t ,i / (Seal) (Seal)
Borrower Elaine K epherdI Borrower ohn R. Shepherd
606 Keokuk Ct. 2041 Tanglewood
Iowa City, IA 52240 Iowa City, IA 52245
Address Address
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BALLOON MORTGAGE
NOTE EXTENSION AGREEMENTfiP0.0
UNIVERSITY OF IOWA COMMUNITY CREDIT UNION
825 MORMON TREK BOULEVARD
P.O.BOX 2630
IOWA CITY,IA 52244
/
By mutual agreement,the attached Note dated the 29rh day of April , 19 91 ,is hereby
extended as follows: /
/ ✓
The principal balance of S 71.900.57 ,due May 1 s t , 19 q6 ,is hereby extended to
May 1st ,19 99
•
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Borrower(s)agree(s)to make 36 monthly payments of S 568.15 beginning on the I qt day
of ?lune .19 96 . These payments shall continue until the end of the extension period,which
is the 1 1st day of May ,19 99 .On that date,a Balloon Payment of I 67.655.96
is due. The note may,at that time,be extended at the then current interest rate as approved by the Board of Directors of the
Credit Union and if the credit continues acceptable.
Amount Financed 5 71.900.57
Finance Charge for
extended period 5 16.208.79
Total of Payments S R8.109.16
Annual Percentage Rate 7 75
The security for this loan continues to be a first mortgage on the property described in the attached note,which mortgage has
been extended by a Mortgage Extension Agreement.
Borrower(s)further agree to make payments as scheduled as shown above,and to continue these regular payments until the
new maturity date when the balance is due and.payable./
The ANNUAL PERCENTAGE RATE is hereby changed from
6.75 %to 7.75 %effect ive May Int ` .19 96
All terms and conditions contained in the original note as attached hereto,and not altered by this Extension Instrument shall
remain in effect and become a part of this instrument.
NOTICE TO BORROWER(S): DO NOT SIGN TI IIS AGREEMENT BEFORE YOU READ IT. YOU ARE ENTITLED
TO A COPY OF THIS AGREEMENT,YOU MAY PREPAY TI IE UNPAID BALANCE AT ANY TIME WITHOUT
PENALTY AND MAY BE ENTITLED TO RECEIVE A REFIINODE UNEARNED CHARGES IN ACCORDANCE WITH
THE LAW. BY SIGNING BELOW,YOU ALSO ACKNOWLEDGE RECILI I'l'OF A COPY OF THIS EXTENSION ON
THE DATE THEREOF.
Cs'
BY: 41_.�/F k: 1f•'(� ;`E' jt-5 �—. ?c. 5/1/96
Is AN OFFICE ' BORROWER (! DATE
6 lie Strabala Elaine K Sheyherd
,.t ' /jf / "`� 511/96
BORROWER [/ DATE
Jot R Shepherd
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CLOSED END
DISCOUNTED VARIABLE MORTG.5GEE
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7-P 7023
VARIABLE RATE MORTGAGE NOTE
(Six Month Federal Treasury Bill Index-Rale Caps)
THIS NOTE CONTAINS PROVISIONS ALLOWING FOR CHANGES IN MY INTEREST RATE AND MY MONTHLY PAYMENT.THIS
NOTE LIMITS AMOUNT MY INTEREST RATE CAN CHANGE AT ANY ONE TIME AND THE MAXIMUM RATE I MUST PAY.
May 1 ',19 99 v Iowa`City Iowa
2044 Tanglewood Iowa City IA 52245 (Slate)
(Properly Address) •
1.BORROWER'S PROMISE TO PAY
In return for a loan that I have received,I promise to pay U.S.5 67.670.33 17 (this amount Is called"principal),plus
Interest,to the order of the Lender.The Lender is the University of Iowa Community Credit Union.a/k/a U of I Community Credit
Union.I understand that the Lender may transfer this Note.The Lender or anyone vsha lakes this Note by transfer and who is enliUed
to receive payments under this Note is called the"Ncte 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
o)16.625%.The Interest rale I will pay will change In accordance with Section 4 01 this Note.
The Interest rate required by this Section 2 and Section 4 0l this Note is the rale I will pay both before and atter any default described
in Section 7(8)of this Note.
3.PAYMENTS
(A)Tlme'end Place of Payments
I will pay principal and Interest by making payments every month. f
I will make my monthly payments on the 1st day of each month beginning on June 1 19 99.I
will make these payments on the 1st day of every month Iherealter until I have paid all of the principal and interest and any other
charges described below that I may owe under this Note.My payments will be applied to interest before principaL If,on
May 1, 2018 ,/ ,I still owe amounts under this Note I will pay those amounts in lull on that dale,which is
called the"maturity date."
I will make my morrUrly payments at 825 Mormon Trek Blvd.. Iowa City. IA 52246 or at a
different place If required by the Note Holder.
(B)Amount of My Initial Monthly Payments
tyach of my Initial monthly payments will be in the amount of U.S.$ 522.80 -/ . This amount may change.
(C)Monthly Payment Changes
Changes In my monthly payment will reflect changes in the unpaid principal of my loan and in the Interest rale that I must
pay.The Note Holder will determine my new Interest rate and the changed amount of my monthly payment in accordancAe with
Section 4 of this Note.
4.INTEREST RATE AND MONTHLY PAYMENT CHANGES
(A)Change Oates ,�/�
The Interest rale I will pay may change on the first day of Play .. .till 20O08nd on that day every 12th
month thereafter.Each date on which my Interest rale could change Is called a"Change Date."
(B)The Index
The Annual Percentage Rale(the"interest rale")may increase during the term of this transaction.Beginning with the first
Change Date,my Interest rale will be based on en Index.The Index is the average of the six month Federal Treasury BM auction
rates for the previous three months,rounded to the nearest 1/4%.The Annual Percentage Rale on existing balances will change the
fest day of the Change Date,subject to annual and lifetime Interest rate limits described in paragraph 4(D).Any increase In the
interest rate will result In payments of a higher amount.
If the Index is no longer available,the Note Holder will choose a new index which is based upon comparable Information.
The Note Holder will give me notice of this choice.
(C)Calculation of Changes
On each Ch nae Date,the Note Holder will calculate my new Interest rale by adding and one eighth
percentage points •125%)to the current Index.Subject to the knits staled in Section 4(D)below,this rounded amount will be my •
new Interest rate until the next Change Date.
The Note Holder will then determine the amount of the monthly payment that would be sufficient to repay the unpaid
principal that I am expected to owe at the Change Date in full on the maturity dale at my new interest rate in substantially equal
payments.The result of this calculation will be the new amount of my monthly payment_
(DI Limits On Interest Rale Changes . V
• The Interest rate I am required to pay al the first Change Date will not be grealer than'
8.625%or less than 4.625%.
Thereafter.my Interest rate will never be increased or decreased on any single Change Dale,by more than 2.00--%from the rate
of interest I have been paying for the preceding twelve months.II the Interest rate is increased on any single Change Date,the
amount of the change will never be less than..25✓%from the rate of Interest I have been paying for the preceding twelve months.
My interest rale will never be greater than 12.625%.,/
The interest rate will never be less than 2.125%. i
(E)Effective Date of Changes
My new Interest rate will become effective an each Change Dale.I will pay the amount of my new monthly payment
beginning on the first monthly payment date after tire Change Date until the amount of my monthly payment changes again.
(F)Notice of Changes
The Note Holder will deliver or mail to me a notice of any changes In my interest rale and the amount of my monthly
payment before a payment at the new level is due.The notice will include Information required by law to be given me and also the title
and telephone number of a person who will answer any question I may have regarding the notice.
5.BORROWER'S RIGHT TO PREPAY
I have the right to make payments of principal al any lime before they are due ager payment of accrued interest A payment
of principal only Is known as a"prepayment"When I make a prepayment,I will tell the Note Holder In writing that I am doing so.
I may make a full prepayment or partial prepayments without paying any prepayment charge.The Note Holder will use all of
my prepayments to reduce the amount of principal that I owe under this Note.If I make a partial prepayment,there will be no
changes In the due dates of my monthly payments unless the Note Holder agrees in writing to those changes.My partial prepayment •
may reduce the amount of my monthly payments after the first Change Dale following my partial prepayment However,any
reduction due to my partial prepayment may be offset by an interest rate increase.
6.LOAN CHARGES
If a law,which applies to this loan and which sets maximum loan charges,is finally interpreted to so that 0
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DISCOUNTED VARIABLE MORTGAGES
the Interest or other loan charges collected or to be collected in connection with this loan exceed permitted limits,then:
(I)any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limits;and•
(II)any sums already collected from me which exceeded permitted limits will be refunded to me.The Note
Holder may choose to make this refund by reducing the principal I owe under this Note or by making a direct
payment to me.If a refund reduces principal,the reduction will be treated as a partial prepayrnenL
7.BORROWER'S FAILURE TO PAY AS REQUIRED
(Allele Charges for Overdue Payments
If the Note Holder has not received the fuel amount of any monUtly payment by the end of ten(10)calendar days after the
dale it Is due,I will pay a late charge to the Note Holder.The amount of the charge veal be Q_%of my overdue payment of
principal and Interest or that amount which is legally permissible under Iowa law.I with pay this late charge promptly but only once on
each late payment.
(B)Default
If I do not pay the lull amount of each monthly payment on the date It is due,I will be in delaulL
(C)Notice of Default
If I am In default,the Note Holder may send me a written notice telling me that it I do not pay the overdue amount plus an
additional amount necessary to reduce the principal to the amount required by the amortization contemplated by this note. If I do not
pay the lull amount so requested within 30 days of delivery or mailing said notice,the Note Holder may accelerate the required note
and require me to pay Immediately the lull amount of principal which has not been paid and all the Interest that I owe on that amount.
(0)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 1 am in default ata later Wee.
(E)Payment of Note Holder's Costs and Expenses
If the Note Holder has required me to pay immediately in lull as described above.the Note Holder will have the right to be
paid back by me for all of its costs and expenses In entorcing this Note to the extent not prohibited by applicable law.Those expenses
Include,for example,reasonable attorneys'fees and costs of continuing or procuring an abstract of title.
a.GIVING OF NOTICES
Unless applicable law requires a different method.any notice that must be given to me under this Note will be given by
delivering it or by mailing U by first class mall to me at the address under my signature below or ata 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 fest class mail to the Note
Holder al(he address stated In Section 3(A)above or at a different address if I am given a notice of that different address.
9.OBLIGATIONS OF PERSONS UNDER THIS NOTE
If more than one person signs this Note,each person is fully and personally obligated to keep all of the promises made in
this Note,including the promise to pay lire lull amount owed.Any person who is a guarantor,surety or endorser of this tole Is also •
obligated to do these things.Any person who lakes over these obligations,including the obligations of a guarantor,surely or endorser
of this Note,Is also obligated to keep all of the promises made in this Note.The Note Holder may enforce Its rights under this Note
against each person individually or against all of us together.This means that any one of us may be required to pay all of the
amounts owed under this Note.
10.PRINCIPAL RESIDENCE
Borrower(s)agree that the BORROWERS STATEMENT UNDER OATH.COVENANT AND INDUCEMENT AGREEMENT,attached
hereto,Is Incorporated In its entirely In this Note.
11.WAIVERS
I and any other person who has obligations under this Note waive the rights of presentment and notice of dishonor. •
'Presentment'means the right to require the Note Holder to demand payments 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:
12,UNIFORM SECURED NOTE
This Note Is a uniform instrument with limited variations in some Jurisdictions.In addition to the protections given 10 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 III 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 nrake Immediate payment In full of all amounts I
owe under this Note.Some of those conditions are described as follows:
A Transfer of the Properly ora Beneficial Interest in Borrower.II all or any part of lire Property or any interest in II is sold or
transferred(or if a beneficial Interest In Borrower Is sold or transferred and Borrower Is not a natural person)without Note Holder's
prior written consent,Note Holder may.at its option require immediate payment in full of all sums secured by this Security Instrument.
B.Principal Residence.III breach paragraph 10 Millis Note.Note Holder may,at its option,require Immediate payment in
full of all sums secured by the Security Instrument.The Note and Mortgage may be amended by mutual consent of Note Holder and
Borrower.
13.ENFORCEABILITY
If any term In this Note or the mortgage securing this Note violates any law or for some other reason Is not enforceable,that
term will not be a part of this Note.However.the other terms of this Note will remain effective.This Note Is subject to Iowa law and
any applicable federal law.If enactment or expiration of applicable laws has the died of rendering any provision of this Note Holder
or the mortgage securing this Note unenforceable according to its terms,Note Holder,at its optiion,may requke Immediate payment
in lull of as sums loaned In connection with this Note.
WITNESS THE HAND(S)AND SEAL(S)OF THE UNDERSIGNED. PAX
Borrower Elaine K SheQ erd Seal Dorrow •Inlhn R. Shepherd 'Seal
606 Keokuk St Iowa City IA 52240 2044.Tanelewood Iova City IA '52245
Address Address
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CLOSED END
DISCOUNTED
VARIABLE RATE MORTGAGES
Owner Occupied
VARIABLE RATE LOAN DISCLOSURE
University of Iowa Community Credit Union
500 Iowa Avenue
P.O. Box 2240
Iowa City,Iowa 52244-2240
1. You have been given al the time of this disclosure and acknowledge receipt of a booklet entitled,Consumer Handbook
on Adlustable Rale Mortgages.
2. This disclosure describes the features or the Adjustable Rale Mortgage(ARM)Program you are considering.
Information on other ARM Programs is available upon request.
I. The Interest rate and installment payments can change. The term of the loan will not change. The payment may
change,so that the amount will be sufficient to pay the interest and principal In full on the malurily date in substantially equal
payments.
ii. The index used to make adjustments in the interest rate is the average of the six month Federal Treasury Bill
auction rates for the previous three months,rounded to the nearest 114%. The Index may be calculated from the
Information contained in the monthly reports of the Federal Reserve Bulletin_
ill. How Your Interest Rale and Payment are Determined
Your Interest rate will be based on the index plus our margin. Our margin Is two and one eighth
( 2.125%). Your interest rate will equal the Index plus our margin unless your Interest rate caps limit the amount of
change in the Interest rate.
Your Interest rate may Increase or decrease during the term of the ARM Loan.
We will calculate the new interest rale by adding our margin to the current index.
Your interest rate may not be greater than twelve and five eighths (12.625%)or less than
two and one eighth ( 2.125%)over the life of the loan.
•
Your Interest rate cannot increase or decrease more than 2.00 %at each adjuslmenL
II there is an increase In the Interest rate,the interest rate cannot increase less than •25 %at the adjustment
Your payment will be determined by computing the amount that would be sufficient to repay the remaining prinrJipal
balance of your loan in full on the maturity date al the new interest rate in substantial equal payments.
Iv. You should ask us for our margin,the current index and current interest rate.
v. Your Initial Interest rale will be discounted. Your initial Interest rale is not based upon the Index used to make later
- adjustments. The discount rate will be in effect for one year. Thereafter,the interest rale will reflect the Index and margin
discussed above. Ask us for the amount of current Interest rale discounts.
vL Your interest rate and payment changes can occur annually.
vii. Except(or the limits regarding the frequency of change in your interest rate,limit of the amount of the Increase at
any one time,If applicable,and the maximum and minimum Interest rales disclosed above,there ere no rules relating to
changes In the Index,Interest rate,payment amount,and outstanding balance including,-for example,Interest rate or
payment limitations,negative amortization,or interest rale carryover.
viii.Historical Example:
The example below shows how your payments would have changed under this ARM program based on actual changes In
the Index that occurred from 1982 to 1996. This does not necessarily Indicate how your Index will change In the future. The
example Is based on the following assumptions:
Amount of Loan $10,000 Margin 2.375%
Term 25 years (this Is the margin we have used recently,your margin may be
Change Date July 1 different)
Payment Adjustment 1 year(frequency) 19.875% Maximum Interest Rate for lifetime of loan
Interest adjustment 1 year(frequency) 2.0 % Maximum Interest Rate change at each adjustment
There Is no Interest rate carryover.
There Is no negative amortization.
The loan term will not change.
Balloon at the end of the loan term Is not permitted.
Index Is the average of the six month Federal Treasury Bill auction rates for the previous three months,rounded to the
nearest 114%. •
Interest rate discount 1.0%for the first year(This Is the amount of discount we have provided recently. Your loan may be
discounted by a different amount)
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. CLOSED END
DISCOUNTED
•
VARIABLE RATE MORTGAGES
Owner Occupied
There are no other interest rate or payment(imitations,except as otherwise specifically staled In this example.
Year Index Margin' Interest Monthly Remaining Balance )
(As of July l) (•I.) (%) Rate Payment (as of MO of tie followingyear)
(%) ($)
)
1982 12.50 2.375 "'13.875 119.42
9951.44
. 1983 0.50 2.375 "11.075 104.01 9873.60
1984 10.25 2.375 12.025 110.00 9795.79
1985 7.75 2.375 "10.625 96.11 9077.02
1966 6.25 2.375 8.625 03.25 9506.61
1987 6.00 2.375 8.375 01.75 9314.52
1988 6.50 2.375 8.875 84.67 9117.28
1989 8.25 2.375 10.625 94.86 8939.22
1990 7.75 2.375 10.125 92.00 8730.66
1991 5.75 2.375 8.125 01.40 8453.31
1992 3.75 _2.375 ' 0.125 71.91 80911.35
1993 3.00 2.375 5.375 68.70 7699.53
1994 4.50 2.375 0.075 74.79 7319.61
1995 5.75 2.375 8.125 79.73 6943.73
1996 5.25 2.375 7.625 77.87 6524.28
This is a margin we have used recently,your margin may be different.
This Interest rate reflects a maximum annual interest rale change ol.2.0
"'This interest rale reflects a discounted initial rate.
Ix. To see what your payments would have been during that period,divide your mortgage amount by 510,000;then
multiply the monthly payment by that amount. (For example,in 1996.the monthly payment for a mortgage amount of
560,000 taken out in 1982 would be: 560,000 divided by-S 10,000=6,and 6 x 577.87=5467.22).
x. For example,on a 510,000,25 year loan,with an Initial interest rale of 6.625I'(the rate shown in the interest rate
•
column above for the year 1996 with a discount of 1.00%for the first year),the maximum amount that the interest rate can
rise udder this program is 6.00 percentage points to 12.625%and the monthly payment can rise from a first-year payment of
564.03 to a maximum 01E106.17 in the year 1999.
xi. Our ARM Loan Program does not contain a demand[calm e. 1
xii. You will be notified in writing within 25 days but not more than 120 days before a payment at the new level Is due.
The notlee will contain Information about:
(1)The current and prior interest rates.-
(2)
ates:(2)The Index values upon which the current and prior Interest rates are based.
(3)The contractual effects of the adjustment,including the payment due alter the adjustment Is made,and a
statement of the Loan balance.
(4)The payment,if different Irons that referred to in paragraph(3)of this section,that would be required to fully
amortize the Loan al the new interest rate over the remainder of the Wall term.
xiii. If we have any other variable rate Loan programs,disclosure forms arc available for them and you are encouraged
to request them.
By signing below,you acknowledge your receipt of a copy of this Variable Rale Loan Disclosure at the time a Loan
application form Is given to you or before you have paid any nonrefundable Ice,v:hiclrever Is earlier. .
SIGNED this 1st day of Nay 19 99.
• Borrower Cl CaNif�� SJhe�qd/ (SEAL)
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REAL ESTATE LOAN COMMITMENT DISCLOSURE STATEMENT
University of Iowa Community Credit Union,500 Iowa Avenue,P.O.Box 2240,Iowa City,Iowa,52244-240
ETrine & .Inhn Shepherd Data: May 1 , 1999
(Names) 2044 Tanglewood
Financed Amount$67,670.33
(sleet Address) Fl
Iowa City lA 52245
(City,State,Zip)
loan, lion In the amount els 67.670.33 to
w..re pleased to advise yen,that yourmortgagePpka
purchase/refinance properly located at
2044'1ranirewood Idwa City IA 52245
has been approved subject to an appraisal of the property located at
N/A
to v amount of
N/A and an attorneys opinion stowing that you are able
S Urea't
to give a frsUsocend mortgage to Ute UniversityUniversityof Iowa CommunityCrodt
The loan amortization will be on19 year basis with the balance of the nolo nulur in 19 years.Tho loan is payable in
consecutive monthlyInstallmonInls.The initial monthly installment will be f S 22.80 each,based upon the Intal ANNUAL
PERCENTAGE RATE which will be, ,625percent:The Initial ANNUAL PERCENTAGE RATE Is not based upon the Index used to make
later adjustments.but has been discounted')-00 14 ler the fest year.Interest wit begin to accrue on the date the loan Is sdisbursed.
one
However,this is an adjustable rale mortgage.The interest rate and Ute amount of your monthly payment may change.Approximately
year after the dale of your dosing,and on that day every twelve months thereafter,your interest tale will be based on an Index The index
Is the average of the s&-month federal treasury bit auction rate for the previous*vee months rounded to the nearest 114%. On each
change date the Note Holder wit calculate your new Interest rate by editing 2.125percentago points to the current Index The maximum
amount that the interest rate may increase or decrease on any one change date is 22_00 percent.Arty
2 Increase In the interest rate will
result in payments of a higher amount.The maximum 2alowable illerest rate over the No of the loan is ercenl The minimum
allowable interest rate over the fife of the loan is x
rcent.
There wit be certain costs to the Boerovrarts)which are part of the FINANCE CHARGE.Those estimated costs writ bo:
Y.loan Origination Points 5 N
Appraisal(Estimale) 3 N/A
Others: $ N/�
TOTAL: S N/A •
There will be certain costs to the Borrower(s)which are not part of the Finance Charge.Those estimated costs are:
Recording fees for. S N/A
Deed:
Mortgage: 5.00
Rider. S N/A
Abstracting lees(estimated): S N/A
Attorneys Title Opinion I.Services(estimated) S N/A
Others:
TOTAL: S 11.AO
Our approval of the loan is conditioned upon the note and mortgage being signed by the Borrowers and their spouses.
The security for this loan is a rest/second mortgage on the above property which will ba legally described In the real estate mortgage.
It wit be necessary for you to provide adequate insurance to cover the mortgage plus any additional insurance you may feel
necessary.Please have your Insurance agent indicate on the potty that the University of Iowa Community Credit Union will be the loss
payee.
In cometerrce with the Flood Disaster Protection Act of 1973,it the property securing this loan is designated abeba�cood
hazard area It wit be necessary for you to provide flood insurance in an amount at least equal to the outstanding principal
e of the
loan or to the maximum boil of coverage available.with respect to the particular typo of property,whichever is less.Please contact your
insurance agent relevant 10 obtaining g tis insurance.made available under the National Flood Insurance Act of 1968.and furnish the Greet!.
Union evidence of the coverage.
Then will be no prepayment penalties in the even)the loan Is paid prior to maturity.
II you pay off early,you wit not bo entitled to a refund of part of the finance chargo.
• Any overdue payment of principal or interest shall.al the option of the holder of the nolo,bear a charge of percent of the overdue
payment of principal end Interest or that amount which is legaly permissible under Iowa law.
The Credit Union has based its approval of this interest rate on your indication that you will/will not occupy this property as your
principal residence.
Al forms,legal lite,and legal questions shall be subject to the approval of your legal counsel.
ff the leans and conditions of this commitment and disclosure statement are satislaclory,please sign and return one copy to the
University of Iowa Community Credit Union,500 Iowa Avenue.P.O.Box 2240,Iowa City,Iowa,52244-2240,within(3)days from the date
set out above.
This commitment will remain in eitecl boor the data of acceptance through Hay 1, 2018
UNIVERSITY Of IOWA COMMUNITY CREDIT UNION:By: Skip Wells
COMMITMENT ACCEPTANCE
The undersigned acknowledge teceipl of a copy of this Commitment and Disclosure Statement prbr to the signing of the mortgage or
nolo or receiving the above Loan principal,and accept the terms outlined In this Commitment and Disclosure SlalemenL
DATED this la day of May 19 99.
IgeleeaA6
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BanowerBotrov�r john R. Shepherd
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IOWA MORTGAGE CLOSED END/ALL FIRST MORTGAGES
UNIVERSITY OF IOWA COMMUNITY CREDIT UNION
500 IOWA AVENUE
P.O.BOX 2240
IOWA CITY, IOWA 52244-2240
THIS INDENTURE made this 29th day of April 19 93 ,between Elaine K. Shepherd,
an unmarried individual, and Jclbtt R, She.herd, an unmarried individual Mortgagor(s),whose
address is: _'.- . ... ,�. ..r l• - . r . r• .,, and UNIVERSITY
OF IOWA COMMUNITY CREDIT UNION,a/k/a U of I Community Credit Union, Mortgagee,having its principal place of
business at 500 Iowa Avenue,Iowa City,Iowa,WITNESSETH:
That the said Mortgagors)in consideration of SEVENTY-SIX THOUSANC and No/100 ---
DOLLARS($76,000.00 I loaned by Mortgagee, received by Mortgagor(s1 and evidenced by the
promissory notels)hereinafter referred to,do,by these presents SELL,CONVEY,AND MORTGAGE,unto the said
Mortgagee the following described real estate situated in the County of JOHNSON ,State of Iowa, to-wit:
Commencing at.the Northwest corner of Lot 10 of Yocum Subdivision in the North half of the Northeast and
Northwest Fractional Quarters of the Northwest Quarter of Sec. 3,Twp. 79 N., R.6 West of the Stir
thence S 13°56'00"E 80.00 feet to the Point of Beginning;thence S 89°56'00"E 32.00 feet;thence N 40°19'00"
E 39.5 feet;thence S 89°56'00"E 126.90 feet to the East line of said Lot 10;thence S l°27'00"E 97.50 feet
to a point on the East line of said Lot 9 which is 24.93 feet from the Northeast corner of said Lot 9; thence F
87°13'00"W, 168.35 feet to a point o❑the west line of said Lot 9 which is 34.27 feet from the Northwest corner
of said Lot 9;thence N 13°56'00"W 78.00 feet to the point of beginning.
FILED N0.02 1 8 8l
lW0KJ53(.P,AGF J
93 (G'f-4 PH 2: I�
which has the address of 2044 Tanglewood Iowa City , Iowa 4,...;'
Street City Zip l' '11(:ONDCR
together with all personal property that may integrally belong to,or be,or hereafter become an iriteptal lidrI.oFsard real
estate, and whether attached or detached, and hereby granting,conveying, and mortgaging also all of the easements,
servient estates appurtenant thereto, rents,issues,uses,profits,and right of possession of said real estate, and all
crops raised thereon from now until tire debt secured thereby shall be paid in full. As to any such personal property or
fixtures,or both,a Security Interest hereby attaches thereto,as provided by the Uniform Commercial Code.
•
This mortgage secures the payment of the loan made by Mortgagee to Mortgagor(sl which is evidenced by a note dated
this date,in the amount of S 76,000.00 with a due date of May 1st, 1996 ,along with any
renewals,extensions, modifications,or refinancing thereof and any notes issued in substitution therefor;and any
additional loans and advances for any purpose whatsoever which hereafter may be made by the Mortgagee to the
Mortgagor(s),or any Mortgagor if there is more than one, which shall have the same priority and privileges as if mado
on this date;and any advances made by Mortgagee for the purpose of protecting its mortgage and security interest in
the above-described property. This paragraph does not constitute a commitment to make additional loans in any
amount.
•
Said Mortgagorls)hereby covenant whir Mortgagees,or successor in interest. that said Mortgagor(s)hold said real
estate by title in fee simple;that they have good and lawful authority to sell.convey, and mortgage the same; that said
premises are Free and Clear of all Liens and Encumbrances whatsoever except as may be above stated;and said
Mortgagor(s)Covenant to Warrant and Defend the said premises against the lawful claims of all persons whomsoever,
except as may be above stated.
Each ol the undersigned hereby relinquishes all rights of dower,homestead, and distributive share in and to the above-
described premises,and waives any rights of exemption, as to any of said property.
CONDITIONED,HOWEVER, that if Mortgagor(s)shall pay,or cause to be paid to U of I Community Credit Union,500
Iowa Avenue/P.O.Box 2240,Iowa City, Iowa 52244,its successors or assigns,at such place as designated by the
promissory notelsl,of even date herewith, given by Mortgagorls)to U of I Community Credit Union,of Iowa City,Iowa,
or at such place as the owner of such promissory notelsl shall designate from time to time,the sum of
FIVE INNCRED TWO and No/100 (MONTHLY) DOLLARS($502.00 4,
in legal tender In payment ol all debts and dues,public and private,at the time of payment,payable as provided In said
promissory notelsl,with final payment due thereon,on or before the fi rat day of play 19 96 ,unless
otherwise extended, with Interest as provided therein,and shall perform the other provisions hereof,then these
presents shall be void, and Mortgagee shall release said real estate at the expense of Mortgagor(s),otherwise to remain
in full farce and effect. All payments received by the Mortgagee shall lirst be applied to protective advances under
paragraph No. 11, then to late charges, and then to unpaid interest,and lastly, unpaid principal.
1. TAXES: Mortgagor(s)shall pay each installment of all taxes and special assessments of every kind,now or
hereafter levied against said property,or any part thereof, before same become delinquent, without notice or
demand;and shall procure and deliver to said Mortgagee,on or before the fifteenth day following duo date of
each installment,duplicate receipts of the proper officers for the payment of all such taxes and assessments .
(!hen due.
X53609/20190 �.hlr �..F1G1
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2. INSURANCE: Mortgagor(sl shall keep force insurance,premiums therefor to be prepaid without notice of
demand,against loss by fire,tornado,acid other hazards,casualties,and contingencies as Mortgagee may
require on personal property,as herein relerred to,and on all buildings and improvements on said premises In
companies to be approved by Mortgagee in an amount not less than the full insurable value of such personal
property and improvements,or not less than the unpaid balance herein, whichever amount is smaller,with such
insurance payable to Mortgagor's)and Mortgagee, as their interests may appear. In the event of a loss,
Mortgagor's)will give immediate notice by mail to the Mortgagee, olio may make proof of loss to the insurance
company, and the insurance proceeds. at the option of the Mortgagee, shall be received by Mortgagee, and
applied towards payment of this mortgage. Mortgagor's)strait promptly deposit such policies with proper riders
with the Mortgagee. Also,if required, tire Mortgagorls)agree to secure and maintain the maximum amount of
flood insurance required In compliance with the Flood Disaster Protection Act of 1973,and to furnish such
policies to the Mortgagee with the insurance payable to the Mortgagee.
3. REPAIRS TO PROPERTY: Mortgagor(s)shall keep the buildings and other improvements on said premises in as
good repair and condition,as same may now be,or are hereafter placed,ordirrary wear and tear only excepted;
and shall not suffer or commit waste ors or to said security.
4. COMPLIANCE WITH LAW: Mortgagor In shall comply with all present and future laws, regulations,and
ordinances affecting the mortgaged property.
5. CONDEMNATION: All compensation awarded for any damages in connectiun with a condemnation proceeding
for any part of the mortgaged property shall be paid directly to die Mortgagee and applied to the mortgage note.
6. JOINT AND SEVERAL LIABILITY: MortgagurIs)agree to be jointly and severally liable for the indebtedness
evidenced by the mortgage note and secured by this mortgage. The signing of this mortgage and the mortgage
note by the spouse of the owner is not only for the purpose of releasing dower or distributive share but also for
the express purpose of creating personal liability of the spouse for the indebtedness.
7. PRINCIPAL RESIDENCE: Mortgagorls)agree that Paragraph 10 of the Promissory Note's)of even date herewith,
given the Mortgagor's)to tire University of Iowa Community Credit Orion,regarding the use of the property
which is the subject of this Mortgage as a principal residence,is incorporated into this Mortgage. A breach of
Paragraph 10 of said note's)constitutes a default of this Mortgage,that shall entitle the Mortgagee, its
successors or assigns, to exercise the remedies as set forth in Paragraphs No. 12 of this Mortgage. The Note
and Mortgage may be amended by mutual consent of Mortgagor(s)and Mor lgagee.
8. RESTRICTIONS ON TRANSFER: Mortgagor(sl agree that in the event they shall in any rnanner transfer the title
to any portion of the mortgaged premises,whether by deed,real estate contract,or otherwise.or in the event
any interest in it is sold or transferred for if a beneficial interest in Morlgagor(sl is sold or transferred and
Mortgagor is not a natural person), that the whole unpaid balance of the obligation secured hereby shall become
immediately due and payable at the option of Mortgagees;and, Morlgagm(s)agree that they shall give
Mortgagee no less than ten(10)days'advance written notice prior to making any such transfer. If Mortgagee
exercises the option to require immediate payment in full, Mortgagee shall give Mortgagor's'notice of
acceleration. Tire notice shall provide a period of not less than thirty(301 days from the date the notice Is
delivered or mailed within which the Mortgagor(sl roust pay all sums secured by this Mortgage. If Mortgagor(s)
fails to pay these sums prior to the expiration of this period,Mortgagee may invoke any remedies permitted by
this mortgage without further notice or demand on Mortgagorls).
•
9. ENFORCEABILITY: If any term in this mortgage or the mortgage note secured hereby violates any law or for
some reason is not enforceable, that terra will not be a part of this mortgage. However, the other terms of this
mortgage will remain effective. If enactment or expiration of applicable laws has the effect of rendering any
provision of this mortgage or the mor lgage note secured hereby unenforceable according to its terms,
Mortgagee, at its option,may require immediate payment in full of all sums secured by this mortgage and may
invoke any remedies permitted by this mortgage. If Mortgagee exercises the option to require immediate
payment in full, Mortgagee shall give tvlortgagorls)notice of acceleration, in the manner described in
Paragraph 8.
10. NONWAIVER: Any forbearance by Monigagee in exercising any right or remedy allowed for by the mortgage or
mortgage note secured hereby shall riot be a waiver of or preclude the exercise of any right or remedy.
11. ADVANCES OPTIONAL WITH MORTGAGEE: It is expressly understood and agreed that if the insurance above
provided for is not promptly effected,or if lire taxes or special assessments assessed against said property shall
become delinquent,Mortgagee(whether electing to declare the whole mortgage due and collectible or not),may
(but need not)effect the insurance provided for,and need not,but may and is hereby authorized to pay said
taxes and special assessments(irregularities in the levy or assessment of said taxes being expressly waived),
and all such payments with interest thereon at the highest legal rate applicable to a natural person for,if tire
Mortgagor is a corporation,then at the default rate provided in the note secured hereby)from lime of payment
shall be a lien against said premises.
12. ACCELERATION OF MATURITY AND RECEIVERS)lIP: And it is agreed that if default shall be made in the
payment of said note(s),or any part of the interest thereon,or any other advance or obligation which may be
secured hereby or any agreed protective disbursement,such as taxes. special assessments,insurance, and
repairs,or if Mortgagor's)shall suffer or commit waste on or to said security,or if there shall be a failure to
comply with any and every condition of this mortgage, including Paragraph 10 of the hotels)of even date
herewith and described in Paragraph 7 of this Mortgage,then at the option of the Mortgagee,said note and the
whole of the indebtedness secured by tris mortgage,including all payments for taxes, assessments,or
insurance premiums,shall become due and shall become collectible by foreclosure or otherwise after such c_.i'
default or failure,Mortgagee shall give notice to Mottgagor)s)prior to acceleration (except for acceleration-under N
paragraphs Nos. 8 or 9). The notice shall specify la)default; WI the action required to cure the default;(c)a
date,not less than thirty(30)days from Ire date the notice is give to Mortgagorls),by which the default must' �... y
be cured; and(d)that failure to cure the default on or before the dale specified inn the notice may result In. '< l
1 _
10/19,92 r.,�t 1536 ;�._�16 -79
.e6 u,
ii
C.)
•
•
If the default is not cured by the date specified in the notice. Mortgagee,at its option,may require immediate
payment in full of all sums secured by this mortgage without further demand and may collect the sums by
foreclosing this mortgage by judicial proceeding or otherwise. Mortgagee shall be entitled to collect all expenses
incurred in pursuing the remedies provided in this paragraph.
13. ATTORNEY'S FEES: In case of any action,or in any proceedings in any court, to collect any sums payable or
secured by this Mortgage, to protect the lien of title herein of the Mortgagee,or in any other case permitted by
law in which attorney fees may be collected from the Mortgagorls),or charged upon the above-described
property,Mortgagor(s)agree to pay reasonable attorney's fees.
14. CONTINUATION OF ABSTRACT: In event of any default herein by Mortgagorls),Mortgagee may,at the
expense of Mortgagor(s),procure an abstract of title, or continuation thereof,for said premises,and charge and
add to the mortgage debt the cost of such abstract or continuation with interest upon such expense at the
highest legal rate applicable to a natural person;or if the Mortgagor is a corporation,then at the default rate
provided in the note secured hereby.
•
15. SHORTENED REDEMPTION PERIOD: It is further agreed that in tire event of judicial foreclosure of this
Mortgage,the Mortgagee may,at its sole discretion,elect to:
A. Reduce the period of redemption after judicial sale to six(6)months;if the property is less than ten 110)
acres in size and Mortgagee waives in any foreclosure proceeding any right to a deficiency judgment
against Mortgagorls),pursuant to Iowa Code Section 628.26,or
B. Reduce the period of redemption after judicial sale to sixty(601 days.if the property is less than ten(10)
acres in size,Mortgagee waives in any foreclosure proceedings any right to a deficiency judgment against
Mortgagor(s),and the court finds that the property has been abandoned by Mortgagorls),pursuant to Iowa
Code Section 628.27, or
C. Reduce the period of redemption after judicial sale to the time period set forth in Iowa Code Section 628.28
or any other Iowa Code Section to reduce the period of redemption after judicial sale to such time as may be
then applicable or provided by law, or
0. Foreclose without redemption after judicial sale if the property is not used for an agricultural purpose,
pursuant to Iowa Code Section 654.20.
•16. HAZARDOUS SUBSTANCES: Mortgagorls)shall not allow the presence,use disposal,storage or release on or
in the property of any substance which has been defined by any federal,state,or local law or regulation as a
toxic or hazardous substance, which includes,but is not limited to: gasoline,kerosene, flammable or toxic
petroleum products,pesticides, herbicides, solvents,asbestos,formaldehyde, and radioactive materials.
Mortgagor(s)shall promptly give Mortgagee written notice of any investigation,action,or claim which involves
the property arid any toxic or hazardous substance or federal,state or local law or regulation which relates to
health,safety,or environmental protection. Upon notice that remediation or removal of a toxic or hazardous
substance is necessary, Mortgagorls)shall promptly take all necessary remedial action]. The Mortgagorlsl may
use or store on the property small quantities of hazardous substances which are generally and reasonable
recognized to be appropriate to normal residential use and maintenance of the property.
17. NOTICES: Any notice to Mortgagorls)provided for In this Mortgage may be given when delivered or mailed by
first class mail. The notice shall be directed to the address of the Mortgagor(s)stated on the face of this
mortgage,unless Mortgagor(s)has designated a different address by notice to Mortgagee. Any notice to
Mortgagee shall he given by first class mail to University of Iowa Community Credit Union,500 Iowa
Avenue/P.O. Box 2240, Iowa City,Iowa 52244, unless Mortgagee has designated a different address by notice
to Mortgagorls).
18. DEFINITION OF TERMS: Unless otherwise expressly stated the word"Mortgagor(sl,"as used herein,includes
successors in interest of such"Mortgagorls);"the"Mortgagee,"as used herein,unless otherwise expressly
stated, includes the successors in interest of such"Mortgagee." All words referring to"Mortgagor"or
"Mortgagee" shall be construed to be of the appropriate gender and number,according to the context. This
construction shall include the acknowledgement hereof.
19. WAIVER: I UNDERSTAND TIIAT HOMESTEAD PROPERTY IS IN MANY CASES PROTECTED FROM THE
CLAIMS OF CREDITORS AND EXEMPT FROM JUDICIAL SALE AND BY SIGNING THIS CONTRACT I
VOLUNTARILY GIVE UP MY RIGHT TO THIS PROTECTION WITH THE RESPECT TO CLAIMS BA D UPON THIS
CONTRACT.
April 29th, i
' Aril 29th,
cC . 1993 �'a p 1993
Signature Elaine H. Sheph IIIIII \. Date "ature John R. epherd Date
20. RIDERS TO THIS MORTGAGE: If one or more riders are executed by Mortgagorls)and records together with
this Mortgage the covenants and agreements of each such rider shall be incorporated into and shall aniertd and
supplement the covenants and agreements of this Mortgage as if the riderfsl were a part of this Mortgage.
(Check applicable space(s)). Variable Rate Rider Other
(none)
IN WITNESS WHEREOF,said Mortgagorlsl,have Hereunto set their handis.4t day and ea i t written.
CYC d `Shepherd
Ll�iz�lcLc��. &-1
MORTGAGOR Elaine K. Shepherd) MORTGAG John R. Shepher
STATE OF IOWA )
COUNTY OF JOHNSON 1 ss.
On this 29th day of A rril 19 93 ,before me, the undersigned a N t r ,�Pyy44lic i,g and for the State of
Iowa,personally appeared Elaine K. Shepherd & John R. Shepherd, each��rXtb`rhd-WHovBr UE;Tihe
identical person named and who executed the foregoing instrument,and acknowledged�a th xecuted the same as
their voluntary act and deed.
r16 Lawrence L. Lynch
lf" Notary Public in and for the ^ -�
State of Iowa •..1
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to the repayment of rum,luaus.IA pweun til earl,payment you make is .. .. .,...,......,..........._..,..,,.. .........,,.....y
applied In finance charges and credit insurance premiums.if any.)Then we fledge agrcomenl:
• add any new loans made Thal day.The final figure is Ihe'principal balance.' CREDIT INSURANCE:Credit the Insurance and credit disabeily insurance are
not required to obtain credit.We will provide no coverage unless you sign
The daily periodic rate of FINANCE CHARGE is.02328767%which and agree to pay the additional cost.The tales listed below are applied to
is equal to an ANNUAL PERCENTAGE RATE d 8•5 D %.The
your average daily principal balance to determine the premium you owe for
one billing cycle.
annual percentage rate includes interest and not other costs. TYPE RATE
VARIABLE RATE:The annual percentage role may change.and will be
3.252 in excess of the meowing'base rate'i You [Ido 7F do not want single medt We S.65/na/S1,000
six month Federal Treasury Bill auction rates for Ila per quader(quarters You Ode j3 do not want joint credit life 1.04/no/1.000
begin January.April,July.October.The resulting annual percentage rale will You 0 do a do not want credit disability 2.55/mo/1,000
be rounded to the nearest.25%.The annual percentage rale may Increase if
Ibis'base tate'increases.An increase will lake ellecl the lirsl day 01 the new
!`—� S
quarter.An Increase will result In an increase in the(mance charge and it X�FT1 '" X
may have the effect of increasing your periodic minimum payment.The CHANGIR �' `^T•THIS A.REEM EN 7:Generali
annual percentage rale will eel increase more oilen than once a quaner.A y,we may not
decrease wit have the opposite oiled til an increase disclosed above. change the terms d this agreement • ever.Inc may change the terms in
II the base rare changes more frequently Than the annual percentage the loaowing crrcrxnslances
rale,we will always use the base rale in elledl on the day we adjust the •11 this is a variable rale plan,we may change the index and margin it the
annual percentage rate to determine the new annual percentage rale.In original index described above becomes unavailable.Any new index will
such a case,we will ignore any changes in the base rale That occur between have a historical movement similar to the original,and.together with a new
annual percentage rale adjustments. margin.will produce a similar interest rale.
The'annual percentage rale'relerred to in Ibis section is the annual rale We may mike changes that you have agreed to in witting.
which corresponds to the periodic rale applied to the balance as described •We may make clurges nnat unequivocally benefit you.
above.This corresponding ANNUAL PERCENTAGE RATE it never •We may make changes to insignificant lents of this agreement.
exceed 15.0 No change we make will be effective until we send you a written
:,and will never exceed the highest allowable rate disclosure of the change al least sixty days before the effective dale of the
for This type of agreement as determined by applicable stale or federal law. change.
The ANNUAL PERCENTAGE RATE will never decrease below II we are required to send police of a change in lerms,we will send the
3.25%. slice to your address listed above.(You shook!Inform us of any change In
address.)
HOW YOU REPAY YOUR LOANS:On or belore each payment dale,you agree ADDITIONAL CHARGES:You agree to pay the loaowing additional charges:
to make a minimum payment to reduce your debt.The minimum payment A lee of S —0— per year an order to participate in this plan.We will
amount is 2%of your ban account balance on the last day of the billing
cycle.or 525.00.whichever is greater. add this amount to your loan account balance on an annual basis.
CHECK ONE:You authorize the University of Iowa Credit Union 10 withdraw Appraisal S ala •
payments from your
Documentation❑SHARE SAVINGS Documentation Fees S 25.00 ' Credit Report Fees S ••
(Other)Title 0. Lien Search 5 50.00
❑SHARE DRAFT a ATTORNEY'S FEES:To fro extent
permuted by!ha Untied Stiles RarJvnrplry
®OTHER a Automatic transfer from your Code,you agree to pay the reasonable allomey's lees and other costs we
UICCU-Checking-Account incur In[Deed Buis debt or to realize upon any security as awarded by arty
FINAL PAYMENT:On the maturity dale lisled above.you must pay the amount coon exercising jurisdiction under tine Bankruptcy Code.
01 any remaining loan anconm balance oulslanding The minimum payment NOTICE:See the reverse side for additional terms and for information about
will not fully repay the principal that is outstanding on your line.At(hal lime your rights In the event of a billing error.
you: SIGNATURES:By signing below,you agree to the terms on both sides of this
❑may be required to pay the ensue balance in a single balloon paymentagreement and you promise to pay any amounts you owe under this
(The amount of your ine of credit.the timing of your payments and ypa agreement.You also state That you received a completed copy o1 the
pattern of advances all ailed whether you wilt have to make such a agreement on today's date.
payment.) ,�rr
Signature -�nalure —i..G.wetinc_,
a will be required to pay the entire balance m a single balloon payment. Elaine R. Sheeperd: .
I1 you have any loan account balance al Thal lime,we are red obligaled to
refinance your account,but will consider your request In do so.II you Sgnalure_
refinance this account al maturity.You may have to pay some or all[lithe
closing costs normally associated with a new loan even it you obtain 0 . 0a'u,Y: ;Chess 1 Poses Only)
financing from us. ,
.ice.
ADDITIONAL REPAYMENT TERMS:If your loan account balance on a By. i
payment date Is less than the minimum payment amamL you must pay onry D. F••�r ielnr AssUvtt n].Cl" s f.
the loan accourrl balance. O 1987 Bankers Sysrents.Inc..SI.Clow.MN Fpm OCPNECUTA 1/10/94 x1 Cuetom
PfW '' (:)1 .) Ot11611
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ADDITIONAL TERMS
DEFAULT AND REMEDIES:You will be in default on this agreement if one or more of the following occurs:(a)you tall to make a payment In full within 10 days after
II is due:(b)you fail to observe any covenant of this agreement(Indudiing any separate agreements securing this agreement),the breach of which materially
impairs the condition,value or protection of or our right in any properly securing this agreement,or,materially impairs your.prosped to pay amounts due under this
agreement.You agree to pay the reasonable expenses we incur to realize upon any security in the event of your default.
We may terminale your account,require you to pay the entire outstanding balance in one payment and charge you a termination lee(II provided for on the
other side of this agreement).and lees related to the collection of the amount owing.it you are in delault in any manner described above.In that instance.we may
lake other action short of termination.such as charging you a lee B you tad to maintain required properly insurance and we purchase insurance.If we elect to
terminate and accelerate the amounts owing on your account.we may use our right to set-off,unless prohibited.
Even if we choose not to use one of our remedies when you default.we do not forfeit our right to do so if you delaull again.If we do not use a remedy when
you default.we can still consider yo
ur actions as a default In the[there..
In addtion,we may temporarily prohibit you from obtaining additional extensions of credit,or reduce your credit limit M:
(1)The value of Ore dwelling securing this home equity line of credit declines significantly below its appraised value for purposes of this line
(2)We reasonably believe you will not be able to meet the repayment requirements due to a material change in your financial circumstances;
(3)You are in default of a material obligation of this agreement.which shall include,but is not limited to.your ongoing obligation to supply us with Information we
feel we need to assess your financial condition;
(4)A governmental action prevents us from imposing the annual percentage rale provided for In this agreement;
(5)A governmental body adversely effects our security interest to the extent Thal the value of the security interest is less than 120%of the home equity line:
(6)The annual percentage rale corresponding to the periodic rale reaches the maximum rale allowed under this plan(t provided for on the other side of this
agreement);or
(7)A regulatory agency has notified us that continued advances would constitute an unsafe business practice.
(B)The Home Equity Line of Credit may be suspended should the borrower cease io bee member of the University of Iowa Community Credit Unon.
In the event that we suspend yore right to addtioral advances or reduce your credit lure,we wilt send you notice of out.deosion.aLtha.eddress.Lsted mitre
front of this agreement.(You should Inform us of any change in your address.)If we have based our derisive to suspend be reduce your credit privileges on an
assessment of your financial motion or performance under this plan,and you believe That your situation has changed you must request that we re-evaluate your
situation,and reinstate your credit privileges.
RIGHT TO CURE:Except when otherwise provided by law.II this Is a consumer credit transaction or this agreement is secured by a one-lamlly or Iwo.lamlly dwelling
that is your homestead,we may exercise our remedies only If you lad to exercise your right to cure a default within lire time prodded by law after a written notice
of your default and right to cure Is mailed or delivered to you.However.no notice of delaull or nghl to cure is necessary and we may Immediately exercise any and
an d our remedies it you have delaulled one or more times within the previous 365 days and you have been given notice of default end right to cure with respect
to such delaull.
CREDIT INFORMATION:You agree to supply us with whatever Information we reasonably(eel we need lo decide whether to continue this plan.We agree to make
requests for this Information without undue frequency.and to give you reasonable time in which to supply the inlornatlon.
You authorize us to make or have made any credit rnganes we feel are necessary.You also authorize the persons or agencies to whom we make mese
inquiries to supply us with the information we request.
RETURN OF CREDIT DEVICES:You agree to return to us,upon our request,at checks,credit cards.Of other access devices used to obtain advances under this
agreemenl
YOUR BIWNG RIGHTS
KEEP THIS NOTICE FOR FUTURE USE
This notice contains important information about your rights and our responsibilities under the Fair Credit Biting Act.
Notify Us In Case of Eras or Questions About Your Bra
If you think your big is wrong,or i1 you need more information about a transaction on your bio.write us al the address listed on your blit.Write to 50 as soon as
possible.We must hear from you no haler than 60 days alter we sent you the first bre on which the error or problem appeared.You can telephone us.but doing so Nog
not preserve your rights.
In your letter.give us the following intormalion. • Your name and account number.
• The dollar amount of the suspected error.
• Describe the error and explain,of you can,why you
believe there is en error.II you need more information.
describe the item you are rel sure about.
II you have authorized us to pay your be automatically from your savings,checking or other account.you can stop the payment on any amount you think is wrong.
To slop the payment your seller must reach us three business days before the automatic payment is scheduled to occur.
Your tights and Our Respor�sibdrtres
Aller We Receive Your Wolman Notice
We must acknowledge your letter within 30 days,unless we have corrected the error by then.Within 90 days.we must either correct the error or explain why we
beteve the bill was correct.
Alper we receive your letter.we cannot try io collect any amount you question,or report you as delinquent.We can continue to big you for the amount you
question.including fnance charges.and we can apply any unpaid amount against your credit mit.You do rot have to pay any questioned amount whale we are
investigalkg,but you are still obrigated to pay the parts of your bill that are rat an question.
II we fund that we made a mistake on your big,you coil not have to pay any finance charges related to any questioned amount.If we ddn't make a mistake,you
may have io pay finance charges,and you will have to make up any missed payments on the questioned amount.In either case,we will send you a statement of the
amount you owe end the dale that it Is due.
II you fail to pay the amount that we tank you owe.we may report you as delinquent.However,if our explanation does not sallsy you and you write to us within
len days telling us that you still recuse to pay.we must tell anyone we report you to that you have a question about your bill.And,we must pall you the name o1 anyone
we reported you to.We must lell anyone we report you to that the mater has been settled belween us when it finally Is.
II we dont tallow these rules,we can't coiled the first S50 of the questioned amount.even if your tell was correct.
Special Rule for Credit Card Purchases
II you have a problem with the quality d property or services that you purchased with a credit card.and you have tried in good faith to correct the problem with the
merchant.you may have the right not to pay the remaining amount due on the property or services.There are Iwo limitations on this right:
(a)You must have made the purchase In your home state or.if not within your home slate within 100 miles of your current mating address:and
(b)The purchase price must have been more than S50.
These limitations do not apply it we own or operate the merchant.or II we mailed you the advertisement for the properly or services.
LIABILITY FOR UNAUTHORIZED
USE OF A CREDIT CARD
You may be liable lox the unauthorized use of your credit card.You will not be liable for unauthorized use that occurs alter you notify us at the address on Oa other
side of this form.orally or In writing.01 the loss,theft.or possible unauthorized use.In any case.your lability wig not exceed S50.
FORM OCP-HE BACxSIDE REVISION DATE eaves
HE-BS-ALU.IA CUSTOMIZED
_ IV
or•S
n erert.
D o
Can
•
BOOK PAGE
f ILED NO-{
1146r
�'�s
—
6°
1998FEB-4 AK 10:01
JOHNSON COUNIYRECORDER
Prepared by: tarry U. Fountain, Assistant Vice-President, Lending; IOWA CITY.IOWA
UNIVERSITY of IOWA CtITIUNITY CREDIT UNION, 500 Iowa Avenue, P.O. Pox 2240, Ioa City, TA 52244-2240
858285-107 (028) a
IOWA MORE.AGE OPEN ENO• SECOND MORTGAGE
THIS INO(NruR( made this 24th day of October 19 97 ,between
Elaine K. Shephe-rd, au unmarried indlv10)Tal --
linrtgagorls), whose address Is: hUb L850'tx Lt., Iowa LIty, I-A 52240
and UNIVERSITY OF IOWA COMMUNITY CREDIT UNION. atai. U Of I CC H➢fl1T CRE011 UNION,Mortgagee. basing Its principal
place of business at 500 Iowa Avenue. low,City, tow.. WI10E55E111:
that the said ttortgay r(%) In consideration of TWENTY-EIGHT THOUSAND FIVE HUNDRED THIRTY-TWO S. No/100
DDu ARS (3 28,5:32.00 I loaned by Mortgagee• received by Mortgagor(s)and evidenced by the promissory
note(,) hereinafter referred to, do, by these presents Sill, CONVEY, AMID MORTGAGE, unto the said lorlagee the
following described real estate situated In the County of JOHNSON , state of Iowa. to-wit:
Co....nein' at the liar:hweat corner of Lot 10 of Yocum Subdivision
In the North half of the Northe..t.nd Horthwese Fractional Quertere
of the Northwest Quarter of Section 3, Township 79 north, Range 6
West of the 5th P.M.; thence South 13° 56' 00" East 80.0' to the
Point of Beginning; thence South 890 56' 00" East 32.00.1 thence
North 40° 19' 00" Eaot 39.5'; [hoot• South 89°56' 00" East 176.9'
to the Eaat It.. of sale Lot los thence South 1°27' 00" East 97.5'
to • point on the East line of Meld Lot 9 uhlch 13 24.93' from the
North oast corner of sold Lot 9; thence East 870 I]' 00- We,t 168.35'
to a point on the vest hio• of Bald Lot 9 which is 34.27 feet from
time Northwest corner of sold Lot 91 thence North 13°56. On-
uses 70.0' to the point of be.tnnlnt.
which has the seeress of 2044 Tanglewood , Iowa City iaaa52245
Street City lip
together with all personal property that may Integrally belong to, or be, or hereafter become an Integral part of
said real estate, and whether attached or detached, and hereby granting, conveying, and mortgaging also all of the
•
easement,, servient estates appurtenant thereto, rents, issues, uses, profit', and right o1 possession of said real
estate, and all crops raised thereon from now until the debt secured thereby shall be paid :n full. As to any such
personal property or fixtures,or both, a Security Interest hereby attaches thereto, as provided by the Uniform
Commercial Code.
this Mortgage Is subject only to a prior mortgage from Elaine K. Shepherd, an unmarried individual
to University of Iowa Community Credit union dated April 29th, 1993
recorded on Hay 4th, 19g1 to Book 1536 ,Page 161
of the Records of the JOHNSON County Recorder.
Said Mortgagor(s) hereby covenant with Mortgagee, or successor in Interest, that said lortgagor(s) hold said real
estate by title In lee simple; that they have good and lawful authority to sell.convey, and mortgage the same;
that said premises are free and Clear of all Liens and Encunbrances whatsoever e.cept as may be above stated; and
said Mortgagor(s) Covenant to Warrant and Defend the sold premises against the lawful claims of all persons
whomsoever, except as may be above slated.
Each of the undersigned hereby relinquishes all rights of dower, homestead, and distributive share In and to the
above-described premises, and waives any rights of exempt loo, as to any of said property.
(0001110NE0. HOWEVER, that If Iiortgagor(s) shall pay, or cause to be paid to U of 1 Community Credit Union, 500 Iowa
Avenue/P.O. Box 2240. Iowa City, Iowa 52211, Its successors or assigns, at such place as designated by the pronlssnry
mle(s), of even date herewith,given by Mortgagors) to U of I Coenunity Credit Union,of Iowa Clty, Iowa, or et
such place as the owner of such promissory nole(s) shall designate from time to thee, payment in legal tender of
all debts and dues,public and private, at the time of payment payable. as provided In said pro.ltsory nole(t),
. with final payment due thereon, on r before the 20[Nor of October 2007 , unless otherwise
extended with interest as provided therein, and shall perform the other provisions hereof and all other obligations
secured as set forth in Paragraph 1 below, then this Mortgage will be Void, and mortgagee shall release said real
estate at the expense of the Hortgagor(s),otherwise to remain In full force and effect. All payments received by
the Mortgagee shall first be applied to credit Insurance lit any), then finance charges, and lastly. the amount of
unpaid principal.
1. OPEN-END FEATURE: this mortgage shall secure the payment and performance of the mortgage note, and for any and
all future and additional advances made to the Mortgagor(s) or any of them, by the Mortgagee in such amount or �)
amounts so that the total of such future additional advances°ul,(a `y�o and unpaid at
d 80/180
any gnc lire shall not
qqCCC7
esteem Twenty-Eight Thousand Five Hundred Thirty-Two out --_ooLlAas (1 28,532.00 I, ^ Py
This mortgage shall also secure all of the covenants, agreements and Indebtedness of Mortgagors) to Mortgagee,
whether existing now or In the future,of all kInds, and whether such indebtedness Is reduced and Increased -o C
thereafter,or entirely extinguished and',incurred later. THIS PARAGRAPH 551011 tt01 CO16111111(A COMPONENT 10 MAKE _ r-
A110001.A110001.
ADDITIONAL LOAM IN ANY A110001. `") t y 1
2. NOTICE: This marlgage secures credit in the amount of 1 28,532.00- -- loan and advances JJ
op to this amount. together with interest, are senior to Indebtedness to other creditors under subsequently —0 .'r-11)
�I
recorded or filed mos!gages and liens. I
JIM" o
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3. TAILS: Mortgagors) shalt pay each installment of all lases and special assessments of every kind, now or
hereafter levied against said property, or any part thereof, before same become delinquent, without notice or
demand;and shall procure and deliver to said Mortgagee, on or before the fifteenth day following due date of each
Installment, duplicate receipts of the proper officers for the payment of all such taxes and assessments then due.
A. INSURANCE: llortgagor(s) shall keep in force insurance,premiums therefor to be prepaid without notice of demand,
against loss by fire, tornado, and other hazards, casualties, and contingencies as Mortgagee may require on
personal property. as herein referred to, and on all buildings and improvements on said premises in companies to be
approved by Mortgagee in an amount not less than the full insurable value of such personal properly and
improvements. or not less than the unpaid balance herein, whichever amount is smaller, with such insurance payable
to Mortgagor(s) and Mortgagee, as their Interests may appear. In the event of a loss, Mortgagors)will give Immediate
notice by mail to the Mortgagee, who may make proof of loss to the insurance company, and the insurance proceeds,at
the option of the Mortgagee, shall be received by Horlagee and applied towards payment of this mortgage. Mortgagors)
shall promptly deposit such policies with proper riders with the Mortgagee. Also, If required, the Mortgagor(s)agree
to secure and maintain the maascum amount of flood insurance required in compliance with the flood Disaster
Protection Act of 197), and to furnish such policies to the Mortgagee with the insurance payable to the Mortgagee.
S. REPAIRS 10 PROPERTY: Mortgagors) shall keep the buildings and other Improvements on said premises In as good
repair and condition, as same may now be. or are hereafter placed, ordinary wear and tear only excepted; and shall
not suffer or commit waste on or to said security.
6. COMPLIA.IC(171111 LAW: Mortgagor(s) shall comply with all present and future laws, regulations. and ordinances
affecting the mortgaged properly.
7. CONDEMNATION: All compensation awarded for any damages in connection with a condemnation proceeding for any
part of the mortgaged property shall be paid directly to the Mortgagee and applied to the mortgage note.
B. J01Nf AND SEVERAL LIABILITY: Mortgagor(s) agree to be Jointly and severally liable for the Indebtedness
evidenced by the mortgage rale and secured by this mortgage. the signing of this mortgage and the mortgage note by
the spouse of the owner Is not only for the purpose of releasing dower or distributive share but also for the
express purpose of creating personal liability of the spouse for the indebtedness.
9. PRINCIPAL RESIDENCE: Mortgagors) agree that the paragraph of the Promissory Note(s)of even date herewith,
given by the Mortgagors) to the University of Iowa Commnity Credit Union, regarding the use of property which Is
the subject of this Mortgage as a principal residence, Is incorporated Into this Mortgage. A breach of the said
paragraph of said Note(s) constitutes a default of this Mortgage, that shall entitle the Mortgagee, its successors or
assigns, to exercise the remedies as set forth In paragraph No. 4 of this Mortgage. the Note and Mortgage may be
amended by mutual consent of Mortgagor(s) and Mortgagee.
10. RESIRICIIONS 011 TRANSFER: Mortgagor(s) agree that in the event. they shall in any manner transfer the title to
any portion of the mortgaged premises, whether by deed, real estate contract,or otherwise, or in the event any
interest In it Is sold or transferred(or if a beneficial interest In Mortgagors) is sold or transferred and
Mortgagor is not a natural person). that the whole unpaid balance of the obligation secured hereby shall become
immediately due and payable at the option of Mortgagees; and, Mortgagor(s) agree that they shall give Mortgagee no
less than ten(10)days' advance written notice prior to making any such transfer. If Mortgagee exercises the
option to require immediate payment In full,Mortgagee shall give Eortgagor(s) notice of acceleration. The notice
• shall provide a period of not less than thirty(30) days from the date the notice Is delivered or mailed within
which Mortgagor(s)mist pay all sums secured by this Mortgage. If Mortgagor(s) (ails to pay these sums prior to the
expiration of this period,Mortgagee may invoke any remedies permitted by this mortgage without further notice or
demand on Mortgagor(s).
I1. ENFORCEABILITY: I(any term in this mortgage or the mortgage note secured hereby violates any law or for some
reason Is not enforceable, that term will not be a part of this mortgage. However. the other terms of this mortgage
will remain effective. If enactment or expiration of applicable laws has the effect of rendering any provision of
this mortgage or the mortgage note secured hereby unenforceable according to its terms,Mortgagee. at its option,
way require Iaa,ediate payment in full of all sums secured by this mortgage and may Invoke any remedies permitted by
this mortgage. If Mortgagee exercises the option to require Immediate payment In full, Mortgagee shall give
Mortgagor notice of acceleration, In the manner described In Paragraph 9.
12. HOMId1VER: Any forbearance by Mortgagee In exercising any right or remedy allowed for by the mortgage or
mortgage note secured hereby shall not be a waiver of or preclude the exercise of any right or remedy.
17. ADVANCES OPTIONAL 1(1111 M30tGAGEE: It is expressly understood and agreed that if the insurance above provided
for is not promptly effected, or if the taxes or special assessments • sessed against said property shall become
delinquent.Mortgagee(whether electing to declare the whole mortgage due and collectible or not),may(but need
not)effect the insurance above provided for, and need not,but may and is hereby authorlaed to pay said taxes and
special assessments (irregularities In the levy or assessment of said laves being expressly waived), and all such
payments with Interest thereon at the highest legal rate applicable to a natural person(or, if the Mortgagor Is a
corporation, then at the default rate provided in the note secured hereby) from time of payment shall be a lien
against said premises.
19. ACCELtRA(ION OF HATURIIO Aug RECEIVERSHIP. And it Is agreed that if default shall be made In the payment of
said note(s),or any part of the interest thereon,or any other advance or obligation which may be secured hereby
or any agreed protective disbursement, such as tales, special assessments. Insurance, and repairs,or if
Mortgagors)shall suffer or commit waste on or to said security, or If there shall be a a failure to comply with
any and every condition of this mortgage, then at the option of the Mortgagee, said note and the whole of the
indebtedness secured by this mortgage. Including all payments for taxes, assessments. or Insurance premiums, shall (V
become due and shall become collectible Ly foreclosure or otherwise after such default or failure. Mortgagee shall (--)
give notice to Mortgagor(s)prior to acceleration(except for acceleration under paragraphs Nos. 9 or 10). lhu
notice shall specify iai default; Ib) the meth on required to cure the default; (c) a date,not less than thirty
(30)days from the dale the notice is given to Hortgagor(s),by which the default must be cured; and(dl that
(allure in cure the default on or before the date specified in the notice may result In acceleration of the sums cz
secured by the Mortgage, foreclosure by Judicial proceeding and sale of the property. If the default Is not cured -, � r-_
by the dale specified In the notice,Hoc[gager, at Its option, may require lmredlale payment In lull of all Sums
secured by this mortgage cul llmul further demand and may collect the sums by foreclosing this mortgage by Judicial "'r(�
proceeding or otherwise. Mortgagee shell be entitled to collect all expenses incurred in pursuing lire remedies ("—
provided In this paragraph. ! '-�--j
5,.��zak>1s^�Ir 04
•
a 15. AIIORNET'S FEES: In case of any action, or in any proceedings In any court, to collect any suns payable or
tenured by this Mortgage, to protect the lien of title herein of the Mortgagee, or in any other case permitted by
-law in which attorney fees may be collected from the Mortgagor(s), or charged upon the above-described property,
iortgagor(s) agree to pay reasonable attorney fees.
16. CONI OVUM ION Of ABS/RACE: In event of any default herein by iorLgagor(s),Mortgagee may, at the expense of
Mortgagor(s), procure an abstract of title, or continuation thereof, for said premises, and charge and add to the
mortgage debt the cost of such abstract or continuation with interest upon such expense at the highest legal rate
applicable to a natural person; or If the Mortgagor is a corporation, then at the default rate provided in the note
secured hereby.
IT. SICHUENED REDEMPTION PERIOD: It is further agreed That in the event of Judicial foreclosure of this Mortgage,
the Mortgagee may, at its Sole discretion, elect to:
A. Reduce the period of redemption alter Judicial sale to six (6)months, If the property
Is less than ten (10)acres In size and Mortgagee waives In any foreclsure proceeding
any right to a deficiency judgment against Mortgagor(s),pursuant to Iowa Code Section
608.26.or
8. Reduce the period of redemption after Judicial sale to sixty(60) days, if the property
is less than len(l0)acres In sire, Mortgagee calves in any foreclosure proceedings any right
to a deficiency Judgment against Mortgagor(s), and the court finds that the property has been
abandoned by Mortgagor(s), pursuant to Iowa Code Section 628.21,or
C. Reduce the period of redemption after Judicial sale to the liar period set forth In Iowa
Code Section 628.20 or any other Iowa Code Section to reduce the period of redemption after
Judicial sale to such time as may be (hen applicable or provided by law, or
0. Foreclose without redemption after Judicial sale if the property is not used for an
agricultural purpose,pursuant to Iowa Code Section 654.20.
18. HAZARDOUS SUBSfANC(5: Hortgagor(s) shall not allow the presence,use, disposal, storage or release on or In the
property of any substance which has been defined by any federal, state, or local lav or regulation as a toxic or
hazardous substance, which Includes, but Is not limited to: gasoline, kerosene, fladanable ar toxic petroleum products,
pesticides, herbicides. solvents, asbestos, formaldehyde,and radioactive materials. Mortgagors) shall promptly give
Mortgagee written notice of any investigation, action,or claim which involves the property and any toxic or hazardous
substance or federal, state, or local law ar regulation which relates to health, safely, or environmental protection.
Upon notice that remediation or removal of a toric or hazardous substance Is necessary, Mortgagors) shall promptly
take all necessary remedial action. the Mortgagors)may use or"ore on the property strait quantities of hazardous
substances which are generally and reasonably recognized to be appropriate to normai residential use and maintenance of
the property.
19. NOIIC(S: Any notice to lortgagor(sl provided for In this Mortgage may be given when delivered or mailed by
first class Fall, the notice shall be directed to the address of the mortgagor(s) stated on
the face of this mortgage, unless Mortgagor(s)has designated a different address by notice to Mortgagee. Any
notice to Mortgagee shall be given by first class mall to Universlty of Iowa Comunity Credit Union, 500 Iowa
Avenue/P.O. Boo 2240, Iowa City, Iowa 52244, unless Mortgagee has designated a different address by notice to
Mortgagar(s),
20. 0(FIN1110N Of TERMS. Unless otherwise expressly staled the word 'Mortgagor(s)', as used herein, Includes
successors In interest of such'Mortgagor(s)'; the 'Mortgagee', as used herein, unless otherwise expressly stated,
Includes the successors In Interest of such'Mortgagee'. All words referring to 'Mortgagor'or'Mortgagee' shall
be construed to be of the appropriate gender and number, according to the context. this construction shall include
the acknowledgement hereof.
21. WAIVER: I UNDERSTAND THAI iiCHESICAD PROP(RIT IS IN MART CASES PRUIECIED FROM INC CLAMS OF CREDITORS AND
EICMPI FRO4 JUDICIAL SALE AND BY SIGNING thIS CONIRACI 1 VOLUNTARILY GIVE UP NT RIGID 10 IVIS PMOEECIION WIN III(
RESPECT 10 CLAIMS BASED UPON illIS COMIRACI.
)10/24/97 - --
signature ttalne K. 5llepneta 0,4 Signature - Date
22. RIDERS 10 THIS MORTGAGE: if one or more riders are executed by Mortgagor(s)and recu,ded together with
this Mortgage the covenants and agreements of each such rider shall be Incorporated intoand shall
amend and supplement the Covenants and agreements of this Mortgage as If the rlder(s)were a part of
this Mortgage. (Check applicable space(s)). X Variable Rate Rider Condominium Rider _Other
IN 01IN(S5 WHEREOF, said Mor
tgagor(s)have hereunto set their hands the day and year first written.
:IORIGAGOR Elaine L. onepne`p MORTGAGOR
SIM( OF 10MA )
(0UN(f or JonussoN I as.
On this 24th day of October tg 97.worn re, the unders1 dd a Nol Public In and for the
State 01 tuna,personally appeared tla llle K-STfepherd, an unmartl�ea fry'
indlvldual
to Inc known to be the Identical person named and who executed the foregoing strument, and acknowledged that they
executed the same as their voluntary act and deed.
arty main
jl i' r,-;• Notary Public in and for the State of Iowa
6JOT_fJ i_o..
o
A O
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•
VARIABLE HATE morn OPEN END
ISit-Month federal El earwy DID Weal
11115 vunnuib RAI(RIDER Is made this 24th day of October ,1997 ,eon is bro poreted into and shall be
dawned to amend and supplement the Mortgage of the same dale or easier dale pion by the undersigned Rho'Mossoapods!'and"Oanoweriell to secure
Dwtewer's Verfable Rate Note Ohl'Note)to the University ol Iowa Cooerwnhy CIiA1 Union,elkls U of I Conenuuity Ciedil Upon,its sucessors andlos
assigns litre"Mortgagee end'Note Iloldw"I of Ore same dale and coveting Ilse properly desuihad hr Ile Mor lgage end located at:
2044 Tanglewood, • Iowa City, Iowa 52245
lawns,.44011 Street Cly Slate lip Cods
IIIE NOTE CON TAINS PROVISIONS ALLOWING TAIl CHANGES IN 111E INTEREST nil E ANIL THE MONTHLY PAYMENT.IIIE NOTE LIMITS IIIE
MAXIMUM RATE TIIE MUOIGAGOn MUST PAY.
AUDI MORA/COVENANTS.M addition to the co,erramis and 4ewrer11 made in the Mortgage,Mottoapor and Mortgagee's'holier torment and
epee ea lollows:
INTEREST RAIL AND MONIIILY PAYMENT CHANGES: Ike oohs pleldes los en Initial Interest rale ofg.50 S.the nate proriides 1o1 changes In
the Interest rale end the monthly pgnanll as follows:
VARIABLE ELATE the annual percenupe sale Tey lunge.and will be 3.252 in_Excess of the following'base We:sit
month Federal Treasury Dill suction rates lar the prior quarter Igoe/ers begin January,April,July,October!.lira resulting ennual percentage ole will be
rounded to the nearest.25%. the annual percentage sale may Iocraase if this"base tele"Increases.An Muses.will late dial the lb sl dry ol the new
quartet.An Lsceese wil scull It en kraus.Is the lbrmn durpe end II may hese Ilea Weal al IncraasIng yaw pesladic mbrenun payment.lire annual
percenteps ale real not Increase more ellen than once I goalies.A decrease will hiss the opposite cited of en Increase disclosed above.
U the bass Ile changes more frequently than the annual per erdege rate,we will elweye use the ban rete Is elect on the day we edyssl the
annual percentage isle to deeming the new annual pelcenlege sate.In such a rasa,era will Ignore any changes In the base tare that occua between annual
percentage sale ed rstenants.
The"mental percentage rete retested to is Ills section is the smell oils which corresponds la the periodic rile eppled to the balance as descried
abort. lids corresponding ANNUAL PETICIN/AGE RATE will never exceed 15•0 %,end will novel ascaad the highest allowable sate los this type of
'agreement as determined by epploble stele or leder el law. 3.25
The ANNUAI.man AGE IMF will never decrease below %,
110W YOU REPAY'mon LOANS:On or helms each payment date,you agree to mate a minimum n payment to reduce your debt.the minimum
payment amount is 2%ol your loan account balance on the last day el the blfurp cycle,or 125.00.whichever Is proles.
By signing below Mortgegorlsl accept,end egwees to Ire feints and covenants[ordained In this Variable Tele Rider.
10/24/97 -- _
WnTlOWEn Elaine K. Sbe>6i rd IJ EE ounnOWLn DATE
Iv
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0 r,
0 -�-r�
i" 1 1
t
12/29/95 (I1
6aai2416?110E as • Form 521 w ��
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cn
END
OF
CASE
FILE
JOHNSON COUNTY SHERIFF' S DEPARTMENT
P.O. BOX 2540
IOWA CITY, IA 52244-2540
DATE: 05/09/02 ***** PROCESS SERVERS WORKSHEET *****
CP# : 000020023144 DOCKET: 00CVCV062677 AGENCY: 6)0020023144
PLTF: TAS PROPERTIES PROCESS TYPE: WRIT C £TIAR
VS . ORDER
DFND: IOWA CITY, CITY OF
C2'0 o
-o
AOR: 0000631 MEARDON, CHARLES A
AOR PHONE: 3193389222 : N
COURT OF ORIGIN: JOHNSON CO
CP#/PARTY : 000020023144-01 DATE ASSIGNED: 05/09/02 SERVER: 00001 UNASSIGNED
SERVER ENTRY
SERVE BY: 00/00/00S ,- i
DATE: / TIME: AM/PM
HAZARDS: n"�
SERVICE TYPE: C, CIC/
PARTY: IOWA CITY, CITY OF
: 410 E WASHINGTON ST BY SERVING:
IOWA CITY IA 52240
RACE: HEIGHT: RACE: l/l/ HEIGHT:
WEIGHT: SEX: WEIGHT: - SEX:
HAIR: EYES : HAIR: EYES :
DOB : 00/00/00 SSN: DOB:
PHONE : SERVED AT:
EMPLOYER:
VEHICLE: YEAR: MAKE: MILEAGE SERV FEE: _
MODEL:
LIC PLATE : STATE : MISC1 MISC2
DESCRIPTION:
COMMENTS :
4 DATE TIME SERVR REASON
1
2 SIGNATURE DATE
3
TITLE
4
5
IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY
TAS PROPERTIES, an Iowa general ) • f
partnership ) No. CVCV062677 ' .
)
Plaintiff, ) '�.
)
vs. )
)
BOARD OF ADJUSTMENT OF THE ) WRIT OF CERTIORARI
CITY OF IOWA CITY and the CITY OF )
IOWA CITY, a Municipal Corporation, )
)
Defendants.
TO: The Above-Named Defendants
Plaintiff having filed a Petition in this Court on April 4, 2002 claiming that you
proceeded illegally in a written decision filed on March 6,2002 denying an appeal filed by
Plaintiff on or about December 14, 2001 pursuant to Iowa Code Chapter 414, and the
Court having ordered the issuance of this writ,
NOW,THEREFORE,YOU ARE COMMANDED on or before the expiration of ten
days from the date of service of this Writ to file in the office of the undersigned the
following records to be certified for the Court's consideration:
1. A transcript of the records and proceedings of the appeal filed by Plaintiff
on December 14,2001 before the Board of Adjustment of the City of Iowa City.
O
CD
]y N
•
WITNESS my hand and seal of said Court at Iowa City,Johnson County,Iowa,this
day of May,2002.
LODEMA BERKLEY
CLERK,SIXTH JUD CIAL DISTRICT,JOHNSON COUNTY
•
ON
—
T>= —c �t
off' 2 0
N
D N
2
•
IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY
-'.yl
TAS PROPERTIES, an Iowa general )
partnership ) No. CVCV062677
Plaintiff, )
VS. O =
y.:_a T
r �^
BOARD OF ADJUSTMENT OF THE ) ORDER
71
CITY OF IOWA CITY and the CITY OF ) _�, �,
IOWA CITY, a Municipal Corporation, ) -�
CO"` N '73
Defendants.
NOW on this daY of May, 2002, the Court having reviewed Plaintiff's
Application for Writ of Certiorari filed on April 4, 2002, finds that a Writ of Certiorari
should be issued to the Defendants, with the return thereto to be made within ten (10)
days of the service.
IT IS THEREFORE ORDERED that the Clerk issue a Writ of Certiorari
commanding the Defendants to certify to this Court within ten (10) days of service of the
Writ a transcript of the records and proceedings of the appeal filed by Plaintiff on
December 14,2001 before the Board of Adjustment of the City of Iowa City.
JUDGE,SIXTH JUDICIAL DISTRICT,JOHNSON COUNTY
Charles A. Meardon
Dennis Mitchell
Meardon,Sueppel & Downer, PLC
122 S. Linn Street
Iowa City, IA 52240
ATTORNERYS FOR PLAINTIFF
Mitch Behr
City Attorney's Office
410 E. Washington Street
Iowa City, IA 52240
ATTORNEYS FOR DEFENDANTS
ry
—
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2
END
OF
CASE
FILE
BEFORE THE
if eberat Eommuniration5 Coinmi55-Sion
WASHINGTON, D.C. 20554
MCC Iowa,LLC dba Mediacom, )
)
Petitioner, ) ~'
l l fl
V. ) ` i
".< -7
City of Iowa City, Iowa,
•
Respondent. ) _ —.)
APPEAL OF LOCAL RATE ORDER
Pursuant to section 623(b)(5)(B) of the Communications Act of 1934, as amended, and
section 76.944 of the Commission's rules,MCC Iowa,LLC dba Mediacom("Mediacom"),
franchised operator of a cable television system serving the City of Iowa City, Iowa("City"or
"Iowa City")hereby petitions the Commission to review a rate order adopted by the City on
September 24, 2002 (the"Order")reducing the Form 1240 maximum permitted basic service tier
("BST")rate calculated by Mediacom for the rate year commencing August 1,2002 from$15.99
to $14.46 and limiting Mediacom's "approved"BST rate to $13.91.1 As discussed below,the
Commission should reverse and remand the Order on the grounds that the City erred: (i)in
limiting Mediacom's recovery of certain franchise-imposed external costs,causing an
unwarranted reduction in Mediacom's maximum permitted BST rate and(ii)by prescribing an
actual BST rate that is less than Mediacom's maximum permitted BST rate, even as modified.
1 A copy of the Order is attached hereto as Exhibit A.
cc = c/Q
BACKGROUND
On or about April 29, 2002, Mediacom submitted to Iowa City a Form 1240 calculating a
maximum permitted BST rate of$15.99 for the rate year beginning August 1, 2002. Iowa City
took no action on Mediacom's rate proposal within the first 90 days after its submission;
therefore, in accordance with section 76.933(g)(2)of the Commission's rules, Mediacom
implemented its proposed"operator selected rate"of$14.992 on January 1,2001.
Iowa City referred Mediacom's Form 1240 to its consultant,Rice,Williams Associates,
who prepared a report dated August 23, 2002, a copy of which was provided to Mediacom("RW
Report").3 The RW Report recommended that Iowa City reduce Mediacom's maximum
permitted BST rate as computed on Form 1240 from$15.9888 to $14.4617 per subscriber per
month,based on a determination(a)that certain recurring franchise-imposed external costs that
Mediacom had included in its rate calculation should have been amortized over the remaining
life of the franchise and(b)that a portion of such franchise-imposed costs should have been
allocated to subscribers in other franchise areas. The City adopted these recommendations in its
Order. Moreover,while the City established Mediacom's Form 1240 maximum permitted rate
2 Mediacom initially sought to justify its actual BST rate of$14.99 by reference to: (1)a system
upgrade charge of$1.08 supported by what Mediacom believed at the time was a previously
filed and approved Form 1235; and(2)the Form 1240 that calculated a maximum permitted rate
of$15.99 and claimed an operator selected rate of$13.91. Mediacom's reliance on the Form
1235 system upgrade to justify a portion of the $14.99 rate it sought to implement appears to
have been an error. After filing its rate justification for the August 2002 rate year,Mediacom
(which purchased the system in July 2001) learned for the first time that the Form 1235 on which
it had relied for a portion of its proposed rate had been withdrawn by the system's previous
owner and had not been reviewed or approved by Iowa City. Consequently, Mediacom accepts
the fact that it cannot attribute a portion of its actual BST rate to this unreviewedtprm 1235.
3A copy of RW's report is attached to the Order. See Exhibit A.
N
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as $14.4617,the Order only gave its approval to an actual rate of$13.91. For the reasons o
outlined below,these actions are flawed and the Order should be reversed.
ARGUMENT
I. Iowa City Cannot Reduce Mediacom's Actual BST Rate Below the Maximum r
Permitted Level.
One of the fundamental tenets of the Commission's rate regulation scheme is that a local
franchising authority may not compel a cable operator to charge an actual BST rate that is less
than the maximum permitted rate justified on the official rate form(s). Yet,that is exactly what
Iowa City has done in its Order by limiting Mediacom's"approved"BST rate to$13.91
notwithstanding the fact that,by Iowa City's own calculations,Mediacom's maximum permitted
Form 1240 BST is$14.46.4
It is abundantly clear that Mediacom's actual "operator selected rate"—the rate that
Mediacom clearly intended to charge and that was implemented on August 1,2002—was
$14.99.5 At the time it proposed this new rate, Mediacom could have justified the entire amount
by reference to its Form 1240,which established that Mediacom's maximum permitted Form
1240 BST rate was $15.9888. Indeed,under Commission precedent, it appears that Mediacom
was required to look first to the Form 1240 maximum permitted rate to justify the actual rate
4 As discussed in the sections II and II of this appeal,Mediacom takes exception to the
recalculations that led Iowa City to reduce Mediacom's maximum permitted Form 1240 rate
from$15.99 to $14.46.
5 Mediacom's actual and maximum permitted rates(and Iowa City's adjustments thereto)are
summarized in the following chart:
Mediacom (as filed) Iowa City (as adjusted)
Max.Permitted Operator-Selected Max. Permitted Operator-Selected
Justification Rate Rate Rate Rate
Form 1235 1.08 1.08 0 0
Form 1240 15.99 13.91 14.46 13.91
Total 17.07 14.99 14.46 13.91
3
implemented and to consider the Form 1235 add-on only if the Form 1240 maximum permitted
rate was less than the actual rate.6 Thus,the fact that Mediacom allocated a portion of its
selected rate to a Form 1235 that subsequently was disallowed does not in any way justify Iowa
City's attempt to limit Mediacom's approved rate to a level that is below the justified Form 1240
maximum permitted level.
The underlying principle that governs this case is illustrated by a recently released Media
Bureau order,Adelphia Communications (Orchard Park),wherein it was expressly
acknowledged that a cable operator is entitled to recover its full maximum permitted rate. What
is particularly noteworthy about the Adelphia decision is that it involved a situation in which an
operator that had elected not to set its maximum permitted rate at the highest possible level (by
leaving some of its prior year true-up"unclaimed") initially was ordered to reduce its actual BST
rate below the rate that the operator could have justified had it not held some of its true-up in
reserve. On reconsideration,the Commission recognized that the operator should have been
credited with as much of its previously unclaimed true-up as necessary to justify its actual rate.
Similarly,Iowa City should have credited Mediacom with as much of its unclaimed Form 1240
maximum permitted rate as necessary to avoid or minimize any reduction in its actual rates.
II. Iowa City Cannot Require Amortization of Annual PEG Operating Cost Payments.
In addition to unjustifiably limiting its approval of Mediacom's BST rate to a level that is
less than the Form 1240 maximum permitted rate,the Order reduces Mediacom's maximum
6 See, e.g., Bresnan Communications Company(Bay City), DA 98-1877, 13 FCC Rcd 19615
(CSB, 1998),recon. denied,DA99-1779, 14 FCC Rcd 15230 (CSB, 1999)(cable operator
required to use all of its FCC Form 1240 MPR before claiming any of its Form 1235 upgrade).
7 DA 02-1707,2002 FCC LEXIS 3477 (EB,2002)at 114.
0 CD
O r�
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171
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permitted rate from $15.99 to $14.46 based on recommendations contained in the RW Report.
One of those recommendations reduced Mediacom's pass-through of annual PEG operating
support payments by extending the period over which these payments would be recovered from
one year to 84 months.8
Under the Commission's rules and decisions, a cable operator"will be required to
amortize the cost of franchise imposed capital expenditures over the useful life of the items."9
Thus, the Commission has stated that a regulator could require amortization where "one-time
costs" or"large capital expenditures are involved" in"order to avoid rate shock to subscribers."10
In this case, however, there is no "one-time cost"or"large capital expenditure." Rather, the
PEG payments are annual and expressly stated to fund"to carry out the day-to-day operations of
public access and community programming."11 No precedent exists for amortization of annual
operating subsidies beyond the 12 months of the current rate year and the mere fact that
Mediacom's predecessor elected to amortize such payments over a longer period of time does
not bind Mediacom to follow a similar approach for all future payments.
In fact, Mediacom's annualized recovery of the yearly PEG support payment better
serves the Commission's goals than the extended amortization recommended by the RW Report
and implemented by the City's Order. Amortization of an annual payment stream over 84
months would result in rate shock in future years as the amortization built with each succeeding
?
8 See RW Report at pp. 3-4.
-I n t.7
9 Thirteenth Order on Reconsideration, 11 FCC Rcd 388 (1995) at¶ 136. [Ti
Jam_ 73
tCI FCC Rate Regulation Q&A No. 12, (May 6, 1994). 7C .
:v
11 Franchise Agreement Between The City of Iowa City, Iowa and Cablevision VII, Inc.
accepted January 2, 1996 at § XI(C). A copy of the relevant portion of the franchise agreement is
attached as Exhibit B.
5
year, compounded by the 11.25%rate of return on the unrecovered balance. In contrast, the
steady recovery of the PEG payments as they are made each year will result in far more stable
rates.
III. Franchise Imposed Costs Cannot Be Allocated to Subscribers Outside of the
Franchise Area.
In a novel attempt to justify a further reduction in Mediacom's maximum permitted Form
1240 rate,the RW Report allocates a portion of certain PEG operational costs that Mediacom is
required to expend pursuant to the Iowa City franchise agreement to subscribers living outside
Iowa City. Specifically,the RW Report estimates that approximately 7,900 subscribers outside
of Iowa City have the ability to view Iowa City's PEG programming and, on that basis,
calculates a pro-rata reduction(based 7900 out of a combined total of 26,000 subscribers) in
Mediacom's external cost pass-through of PEG expenses specifically mandated by the Iowa City
franchise. Neither the RW Report nor the Order cite any authority that would allow Iowa City to
shift approximately 30%of a cost that the City itself has mandated so that it is borne by
subscribers outside of Iowa City. Apart from the lack of any legal rationale for this reduction in
Mediacom's maximum permitted BST rate,the practical problems that will result from such
shifting become clear when one considers that the PEG costs are franchise-imposed costs in Iowa
City but would not qualify as franchise-imposed costs in the surrounding communities, making
recovery of those costs in a rate regulated environment impossible. Iowa City imposed these
costs through franchise well after the onset of rate regulation and it should have realized the rate
implications on its residents. If it wishes to lower subscriber rates, then it should lower the
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amount of the payments that it requires Mediacom to make. n
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CONCLUSION
Mediacom, seeking to establish an actual,operator selected BST rate of$14.99,
mistakenly sought to justify a portion of that rate with a Form 1235 without first"using"all of its
Form 1240 maximum permitted rate. Iowa City,through the Order,has improperly seeks to take
advantage of this error by limiting Mediacom's"approved"BST rate to a level that is less than
the maximum permitted rate justified on Form 1240. Furthermore,the Order improperly reduces
the amount of certain franchise-imposed costs that Mediacom can pass through to subscribers as
an external cost component of the BST through the use of allocation and amortization
requirements that are unsupported by(and are in direct conflict with)the relevant Commission
authority.
Respectfully submitted,
MCC IOWA, LLC
By: G,GcG £ ' L-Altp
Eric E. Breisach
FLEISCHMAN AND WALSH,L.L.P.
950 N. 10th Street, Suite 200
Kalamazoo,Michigan 49009
269 353-3900
Its Attorneys
Dated: October 23, 2002
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EXHIBIT A
September 24, 2002 Rate Order and RW Report
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Prepared by: Dale Helling,Asst. City Mgr.,410 E.Washington St., Iowa City, IA 52240 (319) 6-5013 N
RESOLUTION NO. 0?_336
RESOLUTION APPROVING MCC IOWA, INC.'S REQUESTED RATE
INCREASE AND ESTABLISHING MAXIMUM PERMITTED RATES FOR
BASIC CABLE SERVICE
WHEREAS, pursuant to the public law and the regulations of the Federal Communications
Commission (FCC), the City of Iowa City, Iowa (City), retains regulatory authority over basic
cable television services provided by MCC Iowa, Inc. (MCC)_in the authorized franchise area
encompassing the City; and
WHEREAS, MCC filed FCC Form 1240 dated April 29, 2002, for the purpose of requesting and
justifying an adjustment to its rates for basic cable services to be effective on August 1, 2002;
and
WHEREAS, MCC filed FCC Form 1205 dated April 29, 2002, for the purpose of requesting and
justifying adjustment to rates charged for cable service, equipment installation and rental to be
effective on August 1, 2002; and
WHEREAS, in the exercise of its regulatory authority, the City has reviewed these filings,
attachments, responses to requests for information, and other materials and has determined
that MCC's FCC Form 1240 calculated Maximum Permitted Rate was not established within
FCC rules; and the FCC Form 1235 justifying a $1.08 Network Upgrade Add-on has not been
properly filed; and that the FCC 1205 determined rates for equipment installation and rental are
reasonable; and
WHEREAS, the findings from the City's review of these filings are presented in a report attached
to this Resolution.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF IOWA
CITY, IOWA, THAT:
(1) MCC's operator selected rate based on the 1240 alone of $13.91 per subscriber per
month to be effective on August 1, 2002, is reasonable and is approved.
(2) The Maximum Permitted Rate for basic cable service shall be established as $14.4617 •
per subscriber per month effective August 1, 2002.
(3) MCC shall take into account the City's FCC Form 1240 adjustments and utilize the City's
Maximum Permitted Rate of $14.4617 per subscriber per month when calculating its
Maximum Permitted Rate and performing the true-up calculation on its next FCC
Form 1240.
(4) MCC'S proposed rates for equipment installation and rental as determined by the FCC
Form 1205 filing are approved to become effective on August 1, 2002.
Resolution No. 02-336
Page 2
Passed and approved this 24th day of September , 20 02
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AYOR
Approved by
ATTEST: /,
CI LERK City Attorney's Office
It was moved by 0Donnell and seconded by Vanderhoef the Resolution be
adopted, and upon roll call there were:
AYES: NAYS: ABSENT:
X Champion
X Kanner
x Lehman
X O'Donnell
X Pfab
X Vanderhoef
X Wilburn
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RICE, WILLIAMS ASSOCIATES
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REPORT ON
REVIEW &ANALYSIS OF FCC FORM 1240& 1205 [2002]
FILED BY
MCC IOWA, LLC
FOR
IOWA CITY, IOWA
AUGUST 23, 2002
SUMMARY
This is a review of Federal Communications Commission ["FCC"] Form 1240 &
1205, dated April 29, 2002, filed by MCC Iowa, LLC ["MediaCom"] relating to the
updating of permitted rates for basic tier cable programming service ["BST"] and
equipment installation and rental services which are regulated by the City of Iowa City,
Iowa ["City"]. These filings were transmitted by MediaCom cover letter dated April 29,
2002, which indicates that price adjustments would take effect on or about August 1,
2002. The conclusion of this review is that MediaCom's proposed rate for BST
programming services [FCC Form 1240] exceeds the adjusted maximum permitted rate,
and therefore is unreasonable. The rates proposed for equipment installation and rental
services [FCC Form 1205] do not exceed the adjusted maximum permitted rates
determined pursuant to FCC regulations, and therefore are reasonable.
MediaCom's calculations determine a Maximum Permitted Rate ["MPR"]for the
BST of$15.9888 per subscriber per month [inclusive of FCC regulatory fees] for basic
cable services. In addition, MediaCom's filing lists a "Network Upgrade Add-on"
amount of$1.08 per subscriber per month. MediaCom has proposed implementing a rate
of$14.99 per subscriber per month which it arrives at by combining a portion of the
calculated MPR [$13.91] with the network upgrade add-on of$1.08. Rice Williams has
determined that the FCC Fonn 1240 MPR should be lower at a level of$14.4617 per
subscriber per month, and finds that there is no basis for application and inclusion of any
system network upgrade component in the BST rate. Accordingly, the rate that
MediaCom proposes to put into effect of $14.99 per subscriber per month is
unreasonable and should be denied. Pursuant to Rice Williams' analyses as more fully
described hereinafter, the maximum rate that should be allowed for BST cable
programming services is $14.46 per subscriber per month.
2121 K Street,NW
Suite 800 209 Elden Street
Washington,DC 20037 Suite 200
Herndon,VA 20170
Phone:(202)737-2400
City of Iowa City, Iowa
MCC Iowa, LLC
Review of FCC Form 1240 & 1205 ''C74 ` -71
August 23, 2002
cv
Page 2 of 7 �~
ANALYSES
o
The following analyses of MediaCom's filings assume the accuracy of the
information supplied by MediaCom in its filings with respect to MediaCom's particular
costs of providing cable services. No audit ofMediaCom's books and records has been
done and none of its system cost assumptions has been checked against any independent
sources. In order to clarify some of the costs and calculations made by MediaCom, a
request for additional information was prepared and submitted Accordingly, the
following analyses also are based upon, and rely upon, the accuracy of the MediaCom
responses.
FCC FORM 1240
Pursuant to FCC regulations, cable system operators are permitted to adjust their
rates periodically for increases and decreases in costs relating to retransmission consent
fees, copyright fees, programming costs, certain cable specific taxes, franchise-related
costs, and FCC regulatory fees. On September 15, 1995, the FCC adopted new rules
giving regulated cable operators the option of filing for rate adjustments on an annual
basis instead of the existing quarterly system embodied in the FCC Fonn 1210.
Subsequently, the FCC issued its instructions and analytical model for the FCC Form
1240 which implements the latest filing rules. MediaCom's predecessor elected this
option in 1996.
The FCC Form 1240 annual filing system examines a stream of historical costs
that have occurred over a period of time,relates this to the revenues actually collected
during the same period and computes a monthly adjustment to apply to a future rate. The
rate to be charged in a future period is developed based on a projected 12 months of costs
and the unit rate adjustment, or"true-up," from the historical period is added to this
projected period maximum permitted rate to determine the total maximum permitted rate
to be charged for the future 12 months period. Each subsequent annual FCC Form 1240
filing will evaluate a historical, or"True-Up Period," and a future, or"Projected Period,"
as part of the process of establishing a new maximum permitted rate for a future 12
months period.
For its year 2002 FCC Form 1240 filing, MediaCom has chosen to establish rates
for the "Projected Period" of August 1, 2002, through July 31, 2003. The "True-Up
Period" chosen by MediaCom is from December 1, 2000, through January 31, 2002.
This is a 14 month true-up period and pursuant to the FCC Form 1240 format requires
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City of Iowa City, Iowa ¶
MCC Iowa, LLC
Review of FCC Form 1240 & 1205
August 23, 2002
Page 3 of 7 o
that the True-Up Period be split into a 12 month "True-up Period 1" and a 2 month
"True-up Period 2." A Maximum Permitted Rate was determined by separate
calculations for each of these three periods. Under the FCC Form 1240, the True-Up
Period Maximum Permitted Rate is the'sum of (1) the prior rate net of prior external
costs; (2) an inflation segment; and, (3) the "actual" external costs experienced in the
True-Up Period. This rate is utilized to determine the level of revenue that the cable
system was entitled to collect in the True-Up Period, and this amount is compared to the
"actual" amounts collected which are determined by multiplying the average rate charged
by the average number of subscribers and by the months in the True-Up Period. The
difference is an amount that the cable system is permitted to collect [or refund], with
interest, uniformly over the Projected Period.
As the first step in the review and analysis of MediaCom's filing, the information
provided by MediaCom was incorporated into the official FCC Form 1240 analytical
model. The results from this analysis replicate the calculations provided by MediaCom
in its year 2002 FCC Form 1240 filing and thereby demonstrates that MediaCom's filing
is mathematically accurate. However, several input errors appear in MediaCom's FCC
1240 presentation, and its determination of"Franchise Related Costs" shown on the
attachment to the filing and as included into Worksheet 7, "External Costs,"requires
modification. In accordance with FCC practice, MediaCom's filing also has been
adjusted to reflect the latest FCC inflation figures as released by the FCC on July 3, 2002.
MediaCom's FCC Form 1240 should have used the adjusted MPR and its
components approved by the City last year as the starting point for this filing. Instead,
MediaCom used the MPR that it had calculated in last year's FCC Form 1240 filing and
ignored the City's last rate order; MediaCom's filing has been adjusted to reflect this
correct starting point.
On Worksheet 8, "True-up Rate Charged,"MediaCom erroneously used rates that
did not include the $0.04 per subscriber per month for the FCC regulatory fee that is
collected from subscribers. These amounts are included in MediCom's Worksheet 7
"External Costs" determination, and so must also be included in the "True-up Rate
Charged" determination_ MediaCom's filing has been adjusted to present the correct
true-up period rates charged: $13.06 vs. $13.02, and $13.39 vs. $13.35.
MediaCom makes annual payments to the City to support the community facilities
for "public, education and government"programming [PEG] and includes these
"Franchise Related Costs" in its BST rate determination. Two of the three "Franchise
Related Costs" components shown on Worksheet 7 for each rate period were developed
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City of Iowa City, Iowa w n ; n
MCC Iowa, LLC -' �, ;=
Review of FCC Form 1240 & 1205 �;C-` Tj
August 23, 2002CD
Page 4 of 7
by MediaCom on an attachment to the FCC Form 1240 titled "Franchise Relked Costa'."
The development of this component of cost for True-up Period 2 [WKS 7 Line 717] was
not shown. MediCom's analysis and development of Franchise Related Costs differs
from its predecessor's analysis and yet no explanation for this change of methodology
has been offered. In particular, MediaCom has chosen to fully expense in a 12 month
period the contributions made to the City in support of PEG facilities. Previous operators
have amortized these contributions over an 84 month period. As no support or
explanation was offered for this change in methodology, MediaCom's presentation has
been modified to reflect the 84 month amortization of the PEG payments in accordance
with the methodology used by MediaCom's predecessors.
MediaCom's "Franchise Related Costs" attachment also has been modified to
show the development of those costs for the 2 month True-up Period 2, and also to
present the amortization of an additional contribution that is expected to occur during
December, 2002, of the Projected Period. This contribution was not shown in
MediaCom's analysis for the Projected Period. The amount of this additional
contribution was estimated based on the increase of payment amount from year 2000 to
year 2001 applied to the year 2001 amount shown by MediaCom.
In its FCC Form 1240 filing, MediaCom substantially lowered the True-up and
Projected Period subscriber levels from those utilized by its predecessors [Lines B1 -B3].
MediaCom explained that its new subscriber count reflected only subscribers in the City
limits while the FCC Form 1240 determinations of its predecessors had included the
communities of Johnson and University Heights. Since most components of the FCC
Form 1240 are based upon per subscriber amounts, a lowering of the subscriber Ievels
does not have a direct affect on most the FCC Form 1240 calculations. It does, however,
affect the amount of"Franchise Related Costs" that are included in subscriber rates as
determined by the FCC Form 1240 methodology. Prior BST rate justifications
recognized that the payments which are presented in the"Franchise Related Costs"
attachment benefit a much greater cable service area than just that of Iowa City. By
including other cities' subscribers in the FCC Form 1240 analysis, prior operators
properly apportioned the costs for PEG payments among those other cities' subscribers.
MediaCom's analysis effectively transfers the full burden of PEG payments to only
subscribers in Iowa City when, in fact, a much larger base of subscribers has access to
and benefits from the facilities funded by the PEG payments.
Accordingly, MediaCorn's "Franchise Related Costs" for use in the City's FCC
Form 1240 filing have been adjusted to eliminate those costs attributable to the PEG
services and benefits received by other subscribers outside of the City limits. After
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City of Iowa City, Iowa R,
MCC Iowa, LLC
Review of FCC Form 1240 & 1205 :j
August 23, 2002
Page5of7 y c
discussions with the City, it was determined that a subscriber base that benefits from the
PEG facilities likely includes, at a minimum, the residents of Iowa City, Johnson County,
University Heights and also Coraville. It was estimated that there are some 7,900
subscribers outside of the City in these other communities. For each time period, this
amount of subscribers was added to the City's subscribers as estimated by MediaCom to
determine a total PEG subscriber base. The total "Franchise Related Costs" for each
period was divided by this PEG subscriber base to arrive at a PEG cost per subscriber.
The total "Franchise Related Costs"for each time period for use in the City's FCC Form
1240 was determined by multiplying this unit PEG cost per subscriber to the number of
subscribers in the City as estimated by MediaCom for each time period. These total
amounts were included in the Worksheet 7 "External Costs"for determination of the BST
MPR.
Pursuant to FCC practice, the MediaCom filing also was adjusted to reflect the
latest FCC inflation factors [January 2002 = 1.21%and this also was used as the
Projected Period inflation factor]. The combination of all these adjustments produces an
MPR of$14.4617 per subscriber per month, inclusive of FCC regulatory charges. This
contrasts to MediaCom's determination of an FCC Form 1240 MPR of$15.9888.
As noted before, MediaCom has indicated its intent to apply a network upgrade
add-on of$1.08 per subscriber per month in its BST rate. Such an add-on must be
developed pursuant to an FCC Form 1235 abbreviated cost of service filing, and
MediaCom never has made such a filing. MediaCom does not indicate what authority it
relies upon for the imposition of such a rate surcharge, but its action likely derives from a
misunderstanding of the status of its predecessor's efforts to establish a network upgrade
add-on component to the rates.
First it must be noted that none of MediaCom's predecessor's actually has
included any such surcharge in its BST rates. These operators have consistently elected
to charge actual rates that are substantially below the correctly determined MPR and
thereby have not been charging any portion of any surcharge component.
A first attempt to justify a network upgrade add-on was made by TCI/Cablevision
which filed an FCC Form 1235 that claimed an amount of$1.08 per subscriber per
month. This filing was rejected by the City. Subsequently, AT&T prepared an FCC
Form 1235 filing that attempted to justify a surcharge amount of about $1.50 per
subscriber per month. An analysis of this filing concluded that it too should be rejected.
However, before the City took action on that recommendation, AT&T formerly withdrew
the Form 1235 application indicating that it would re-file for this surcharge in the future
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City of Iowa City, Iowa
MCC Iowa, LLC N
Review of FCC Form 1240 & 1205 =i
August 23, 2002 r ^I 1
Page 6 of 7
when actual costs for the subject upgrade were known. This withdrawal wacontaiiitd in
a letter to the City provided by.Mr. Reske of AT&T dated April 12, 2001. Since that
time, no new or amended FCC Form 1235 has been received by the City and, as noted
above, no actual rate ever has included any such component.
Accordingly, there is no basis for inclusion of a network upgrade add-on surcharge
in the proposed BST rate, and so the BST rate should not exceed the MPR determined
herein of S14.4617. _
FCC Form 1205
The FCC Form 1205 is used to update charges for renting regulated equipment
[eg., remotes and converters], equipment installations [eg., house wiring, service drops,
extra outlets, service tier changes] and the Hourly Service Charge ["HSC"] for service
calls. Charges established pursuant to this form are based strictly upon the actual cost of
regulated equipment and installations plus a reasonable profit. The financial information
utilized in this form is to be derived directly from the operator's general ledger and
subsidiary records that are to be maintained in accordance with generally accepted
accounting principles. This form is required to be prepared and submitted on an annual
basis.
As with the MediaCom's FCC Form 1240, this review of MediaCom's FCC Form
1205 filing assumes the accuracy of the information supplied by MediaCom from its
financial books and records and related sources. No audit of MediaCom's books and
records has been done and none of its system cost assumptions has been checked against
any independent sources. The information supplied by MediaCom has been incorporated
into an official FCC analytical model which provides the formulas and format for all the
calculations required for preparation and completion of the FCC Form 1205. It appears
that MediaCoin has followed the FCC's analytical format and the results shown on the
FCC Form 1205 filing made by MediaCom match the results obtained from the official
FCC analytical model reconstructed with MediaCom supplied cost data for the purpose of
this review.
Accordingly, MediaCom's determination of the maximum permitted charges for
equipment rentals and installations appear to be correct. Since the rates proposed to be
charged have not been set above these levels, MediaCom has demonstrated pursuant to
FCC rules and regulations that these rates are reasonable. Thus, these rates may be
approved and allowed to go into effect.
City of Iowa City, Iowa
MCC Iowa, LLC
Review of FCC Form l 240 & 1205
August 23, 2002
Page 7 of 7
CONCLUSION
MediaCom's "Operator Selected Rate" of$13.91 per subscriber per month
[inclusive of FCC regulatory charges] is, by itself, reasonable because it does not exceed
the properly determined MPR of$14.4617. However, the proposed network upgrade
add-on surcharge amount of$1.08 per subscriber per month is unsupported and improper
and cannot be applied to increase the BST rate charged. MediaCom may only charge a
rate that does not exceed the properly determined MPR of$14.4617. Therefore,
MediaCom may be authorized to charge a BST rate not exceeding $14.46 per subscriber
per month to be effective on or about August 1, 2002. In addition, the City should order
MediaCom to utilize this MPR and its components as the starting point for the next FCC
Form 1240. The rates and charges shown in MediaCom's FCC Form 1205 have been
shown to be reasonable and these adjusted levels may be put into effect on or about
August 1, 2002, as requested.
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Federal Communications Commission,Washington,D.C. 20554
Approved by:OMB 3060-0592;Expires:4/30/97
FCC FORM 1205
DETERM/WNC REGULATED EQUIPMENT AND INSTALLATION ATION COSTS
"EQUIPMENTFOPAr
RICE WILL I a MMS REVIEW OF YEAR 2002
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In order to full FCC rule requiring oh meal Ming of this form
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Approved by:_OMB 3060-0592;Expires:4/30/97
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vif. P-, :4'0;1 -,..--i;:l.:'4.4'r•-'s qi Dr.,,,-,4'.'w: :.** -1*,-.7.:E,.'*%,
..",-,.. 4,,,Z.,
Di‘trib.ti.r. .
I
Contributions 0..7 ala.i,i'..1°614
p d SuNiait In Means T.I Ofia-CaSI.Cafial . C.S.‘..' •-. :14 'AS14P. ..*..'-'4 ** 4n:: :',..'40
.'.'. ...r--it,.$tk't,27'kAt.tti4
-::i;E.:.gEilgi::..w:-.?..,:iali i',..,,-4,.,,,,,,;:i4.4 n.„••‘''..r.„4,..;..,:-..,:altile-i-mNfl,-;•.*.a-w•'v.:::;4,-.-. .3.3t---t,,
iiii':*i:ii.I.1ff:3:374.1,1 4:igles..4„;-Tx,, ,,,,L„, 4f;,,r;,..1:1,-. •:-.V.f...41i',..,-1,Wa.;,',,,:,,TS4:T.-41:;,. 141'1!
:,,,,,E,E,,,,,mi•.:!;kAil•- •pid--,..-i_ •-, ,,,- ,,-,-.1 ,.: -.-1-4,20. •--...,--;--..... '.,,,,t.,,,,:••, ,,i,,,,,IsiT
,,,,,,,,........--,3::•:.,,106..._,,,,g...„-A,,..,4„..„1.:1,-.§-71:i.azim,...4140.1-..,-.;:
:,•,,,-.;:=..,,: -., ,.je,..:045pkgw,..P.Iwol40:-,,,:. r•.;•.t,..t.,,-
K.'''.l'''''''''"S'ki'd1"'"An'T''ICI44'G") ..6.0...4:411t-" iiii ....''';•;'.11:5'. VkL01t ,h047''..,'.---tar.t.-i-:' : '-':,,,, •1..e..';,;
II
-Up Rae/C-Caeps:141-05)Clehar-U0-OW Jr 064),
;..,:,-.- . ,....iatii,....a .,:,...,..:.,:;..,.7,,. -A,..,-....!..in5.'....."...
.:::: riM,..?;•:wi. c......T.zo-.-:--.•:,",.:,z-±:-:"..,;-;•:;:,,,Z.;,,,,,:i::,.ki:: i,ii4tAr:im..ti,:u:,•=.30.14waiik:
„ Up Rale of Retain if s G73
S7f,a62.tinft It.4:1111..060r.
1 R on Inaesanat Crroncd-Up for Ts:milts Hi
11 no* si.''-:4315-"6 -.-•••••-...-s,-SSNW:.'l7M7.WERM.
13.713. l^c^") g'!.5..,!9::...1.N. ::tf.:Ri31:: ±4 ..r4,3kiig:::iiit.fift,ttli
-:•:,XAX:K:i:Ki:*ii:,3*0:3 S . :Itt:.'kx::iMi'tiC,IiieS14.blei
j I c=r-t Pearisi=far DePreaaliNt
t ft0:43"Azia‘.414'.i..::,:::Aifil)...L,...........,,,,... '4,
I K Ar.dd Capital Costa(1.43
i L CRAHVTOT.4LJum id Lin X nibiaal
Specify-Other I.3,ESPAr.'l I,31-".STEM
Specify Mier 2. YES I'fr(il4Ki.P-3.41'
•
...._....__—_
__
Othar 2- _I
I °°" :Iiiir)
°elate Tans rISpectlY
Utmea
SCHEDULE B:ANNUAL OPERATING EXPENSES FOR SERVICE A LLATION ANAZMAINTEN,nu MAINTENANCE OF EQUIP:ENT
S I l'..S.11S2 Sii4 r+•,,,,
1 fAs__rat. icpi E.;.miiiiiii :,Ei:EMi.'.
....,,:lm,Itt..a.strox.,
r,...7
C-7
yi TOTAL fnato a Licie A ealsks)
CD-.--- •
r_--
—---
Box 2.
Specify.(and I. .,11!.:Til.A,:ri..iE91:i.':A'.,1 re'...:%lid'II,.
-
.....,.
-Cm r...) ----
,,,,_,,„, ,,,,,.;,„,;:,.,,7,.,,,,,„,.S1.i•d;i:2:11,,s1...E!':).:;!,:•:r.
' LO •
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FCC Form 1205;May 1994
?age 2 Lotus 4.01 Win;Version 2.0
Federal Communications Commission,Washington,D C. 20554
Approve()by:OMB 3060-0592;Expires:4/30/97
SCHEDULE C:CAPITAL COSTS OF LEASED CUSTOMER E•UQ7IENT
A Equipment — Remote I Remote 2 Remote 3 Convert./
I
Convener Convener t Other Eq.*..
B TaJ Mainammnaeevies Hours(lanai.Explanation) NN1 t.l rr•
C Tata I or Univ inSavite - ------,-- T ---
--e
D Cron Book Van
S.172 A.I g rrw a 1
S123.413 re::annul
FIDdetrnd Trees
G D ,.-.
T1a ooR aloe -
(alE
� - � r:Z
.:........
:.tet
.. ., .. ::::•:::::::::::...., .:.:.:�:-.:>;>t:.<a4......•;:>:3f'4!t?►iwi�?tid�b�-�a x~»< c3gy ;;fir:
......................................
�Goned-Up RreofRdlvn lFmm Sdrd A.lirc}1)111 Ram onknelt/nen Gwad-UpforTaxa[G xHJIgtnggggi t t+e : s♦
..,.;�....L...)Y.4}#.�i.y.::��-1�i{�.♦9Yl P'49:v..,. D
1 Coma Provision for Depreciation
S1 ssx2ss 5.a1w:
AnnUal Capital Cate P n
L GRAND TOTAL Imo.f LLeeK ambito)
•
Box 3.
SCHEDULE D:AVERAGE HOURS PER INSTALLATION --------,
A Avenge Horse per Unwind Hong 1'm21146 .(attach at e:eplamtion) I
I_errq
U. Average Hun per Pr-VArtd Home hwallation(matt>I eapla lion) • I
.10r{
C. Average Hann tax Addtio.&Cprwciion Installation a Time efleiaiai lnvallrion(anal.at animation) -I,31a0
D. Avenge noun pa Adduiuul Caeeaelio.]mtallaiont(eglrieegSsInnte Imtallaie«(anafi an e011amt�
1.35ry?
F- Oda Laallation tby Ilan-npe):
Yam I.(Specify)
IAoI-oo noon pe hYallar n(anaeh an e'aalaetion) —^. • — 1
1. 1
Ann 2.(Specify) -
Average Hon,p-iota!!ation(a:2,3 an eyiamlian) • I 0.1.100
11an 3.(Specify)
_-_ Arena limn per AaWlaion Wait an expiration) .
113
o
rn
o N -_-.
J or i
r1- — -�
_ N
Page 3
Lotus 4.01 Win;Version 2.0 FCC Form 1205;May 1994
Federal Communications Commission,Washington, D.C. 20554
Approved by.OMB 3060-0592;Expires:413O/97
r A'vRCSTuErr TOR CALLULJ111NG PLRI OTIED£cUIPMFM AND INSTALLATion CHARGES
STEP A.Hmrly Service Charge
1 Toed Cap1J Cons or 1mtalLtion an6 idabxermnce[Sthedsk&Box 1)
2 Total Nand 529:30862fi^g?l:
t�exhng Hausa brdlciw ed Ma:rmwcetSdcBde H•Bas[x) F.:-74W/44:2-
2
�::-:�:< �- �yr.�•
3 Total Capital c e OPr:y�s Egweafsbralleim ardb/aateaee Hine 1 4 lam 2]. "3 et?giair?
4 CustomerEgoiprwt rad bar*Ration Peeetrge Haab a s ovination? vii,.::::SX,)7J'sgA1Xe.Rt3:
S NvrJ Customer Fquipmet 16iramece and krulleion Costs. I 4.4912
6 Total Libor Hams for A4"rceence and NwJlrioo el Connate Farluebng Coag akeaddEW 7PI [Line 3 x Linc 4) „•>:Zilr l9.Q?D13
17 Bonny Smicc 61 Fquipmed ed Sevin(attach eatJanrion)
Cb.3e RLSCI tis Man 1 i 122:9.91
•liTHOD OF BILLING FOR INSTALlATIONS(Naas so"s"is taw appropriate las)
l
Installation billed by Bellow based on the HSC calculated intim 7.
ig f IoaMlaims bdlod a a rw,dod done
J
STEP B.InstaloUmi Charge
8 Unto=MSC for Ji inualbtiaoe(Fran SlepA.line 7) Lt
9 Maria Clow for brngman%Twee
a tbwvired Bowlegs/Wien
J.HSC[lie 77
d Average Hoasp Domini lime Installation(Schedule ALI=A) -
23.(loge p Unwired Home lotalleim[a/x a21
....... .....:`:;k:....:.:.
b.Pro wired Home boadIshon
bl.BSC[Lire 71
S2!*J6f3
b2.Anew Ham p AvwaedHome Installation(SdeduleA Line B)
b3.Chrgep Prewieedldape3eWallalim[bl xb2) .......
G Additions(Cameetim)malbaim ATce dNifml kaallatioo
el.ESC[Line 7) .<:::;:�::•:::•::...,.
a2.Average Haoapct Ad&Iload CwutlimrmPubiatm7 or Ilk lntdl.Whoa*D.Line �. .. ',� Kr1 �?:�.
L1 :.vx:.
— e3.ChapcpAddgiaulCraclioabnalleiapYTrcd bridal brJlsGm[cl xe2) .•..-� .. ..:......':`-_:::3969(07
t ate:_-_1 Connection longboiats Requiring Sale beoallmim
dl.MSC Hine 7)
•
i t +
IAg Hausa"Additions/Canadian brlJlaiimlel Barak brJlJionPantile D.Lbw D) ^5y: f: pd < t�
I
63.Qurr per Additions/Co.metim bwllstimRnWein6 Syraat budktim[dl x d2)
.s16,onrci
e OUrr baatJ Bine(As rpaif ed in Sda ole D,Lie F# -
et HSC[Lie 7) Syt
e2 Avenge Hoarpbralbtiat abuts 1[SrLedrkD,liaE.len I) ;1� :;:.::;'i;rk'F:: 3 } y z
e3.Clara per Mulletioo d Iwo 1 fel xe2] :::::.�::.;•:::::•:...,.... >:£;, ;-."..1661
r
�5:':<:: $ '::32Df6198'
N.RTC[lirc 7)
.; ^!.7. 3 0, ; '4...
e3.Aveape Homs p lmallatian of lam 2[Sd.dukD.Line E.lam 2) i<:.8146a 4,, .s:,�
e6.Ooge perHaaRttim of bun 21.4 x e•7) `
e7.HSC[Linc 7) - -
^;44t' y..71%,s�-mss
d pW
Morose laws bllalion of bun 3(Schedule D.Lie E,kern 31
W-- '. '.•+:: ..
e9.Chap par btda6ctiae d beg 3 fe7x ep) -.........-"'-:l.�(61!Ot a ?.
_ fes)
OC.)
t\]
.
C) -�
; W
..".--,..,
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Page 4 Lotus 4.01 Win;Version 2.0
FCC Form 1205;May 1994
' Federal Communications Commission,Washington,D.C. 20554
Approved 6y OMB 3060-0592; Expires:4/30197
STEP a Cheeps for loosed Rema.. ------— ------ _
' (Cakd.te separately for each syNMa
ay different type) a
10 Total A'noon.noService hours ICmespadire cmlunafmm&hedrk C.Line Bt Renrael Rerenae2 Resuoei •
11 MSC[laic 7)
f± Taalaawranrrosmice tort(Lire losLift II]
._ •AY!di :�684�-.>...'::�:+�••- � �: '�
I3 Annual Capn Coes lemenpoo6i^Scolrm from Schmidt C.Line LC] iY; T•} ..' 'M`'r"iRd�6D{g%'t' 8/t00:f
14 Tool Con dRamie/Line l3*Line 1S]
13 l.Lni.er of Mils in Service ICortapodinF c olumn from Sdredrlo Cline CJ -- >;f ti�lw3,.-9i5tJ93 jd63. :•%.': c:%: :j }:r{,C't4 33f:3FBC0f
16 wit car Rim 141L;re u) — — :��:�;:�9:P!'ii�erib••-?=-:�?.::�.;:�-::-:�diiM :'<:a;;-�2•=i+RtiudA
17 RAC perMonth(fuer 161(13)j C?t4>:-i:;?:;?-`??:.viii'... ':17.(: iia.iiHi•YS+:KTP.�,}41..'-0fiv....,��
..,.:.:...,.�,:...:'8.1.:2D:6t�":';, -:.'39EOW1P:?:ii:.•..t•::;i9.0Ar.4.
STEP D.Charger for leased Canmler HosesI
.._.___--__.__.__._ __•_•
(CakW.te separately for Barb ripdhamfdifferent]ype) ■
18 Tool Mair■cnsra5ovice Houn ICoremperrdig cohmn from Scb ,k C.LingDJ Cawvnerl Courant 3 CaaenerS
19 HSC(Lim 7)
eri`>2:;nH,n3t!
30 Total M rinusre'Saviee Cost(Limit 19)
Capital (Conesuodinz column SoI dr Line 1g
21 Annual nal costs C.
22 meal Coe of Convener Iliac 2e o Line 311 i:3FlL6W?S�];��: =f'A•+} t';.i31k.CPDR_=:'<a'-r`�..•�';':>::i:3.?iN/D.1?
b2B'' c:
33 bimbo d limits in Service Cm , '" ,v:<..•• ',nt)CF`::::ri.`•::'yf'iS6:6DdfE
' aporairg column from SeierialeC.lie ��:'i;:-'^C"' 'A��" ..-:
`l•:. } y;.:rt It:
24 Unit Ca(Lir 23/Lne 23) F::;iii':::'•�i.9.--a. , �.. '*M;'S§�Ob�- .'Y00(1�:;:y.::�:$". i4.flo6of
23 Ride per Mott(Line2i/(17)) :>�#14:dQf :'.':3::ti:: '��=Sa'•.� »<t'St�,pgjfikf
STXP L.Charm fa out,leered Equipment
26 Total HSC 71 Hors lCa.aponfig wham limn Schedule C.Line B]
27 HSC(Lir7
p,,nt4*,••adii�•:•.;,+:tom:
38 Taal MainnooroService Coss'Line 266 s Lie2T) """'%f's"`+-'�'
Annual Casing Com cobra from Sdea*C Line X) ..ti,,,.< -:k;,t. •
nn
30 Total Cala dEWipman[Liu 38•lir?9)
3f Number etUniu in Service ;?:Ci-:t"�'� •
IcuresponJeQ cohunfront Schedule GLino G) �,
33 Uri'Coat[Line 30llir3])
33 Rye per Month i ine32/(12)]
METHOD OF BILLING FOR CHANGING SERVICE TIERS OR EQUIPMENT Nine am^s^h the■ppeope0.I1•11I
_
noon Chop(Ebner the nominal charge in Lir 34)
m a Uniform Hourly Service Ch ger
i as an Average Oran(Enter the Average Flours for Ooneimt 3a-vire Tiers in Line 36b.1
STEP F.Cleaner for auntie,Senice Tem or Sweperal -_
3e Nominal amp for ounaiy Service Tice
rpm use se escalating reale of charger.place an X in the boo at the risk I
OR
33 Uniform Newly Service Charge
OR �IiY:-.. .......
tib Average Oerge fur Owlsing Sntvior ias
I 368
--- 366-Average Hous to Charge rvice Ties ..•;'%`:=`-siu*4-- 1 c
36e Average Charlie for ooyiug Service Tinsfrom 36as L1.3414
r,2
r )
r _
Page 5 Lotus 4.01 Win;Version 2.0 FCC Form 1205;May 1994
•
Federal Communications Commission,Washington,D C 20554
Approved by:OMB 3060-0592:Expires:4130197
WORKSHEET FOR CALCULATING.TOTAL EQUIPMENT AND INSTALLATION COSTS
I Tota Capita Costs ofLurhtim ad Maintenance[Schedule A.Boa l)
ToAOperating Evolves for Yrullstioo ad Maid�e(Stlydek&Bac 2) k-::<'•;SFfiSAk63} A.
2 Total
3 Total Amer Capital Caws of lm/Won and A outsurce[Lice 1+Lin 2) :Hf Sf1l33Y:�s7-.'A�'!IIt2
4 QmamerEquipment end 6sullation Fatalist(molt espWm.on) : x3;siggf«,..8.?:
5 Amur Qmomer&mimosa Maintenance adtnsalWioo Cewt EstWdog Coal oLmad Equipment .. .....u i?
tine 3 a Leta3d ;�i¢D7pklel3Y
6 Tota Capita Cats of based Customer E.quinnemlS<hAek C,Bes]] ...
7 Amar Moms Equipment d baallatioa CadsEi;::ti:ee wi's..67M:r
[Line �Leoe 6) Lt.ree:.t ;ee w:'t
PertvtageAllocation toFraechiscAra(soe'rmoaiora)
9 .Moored Amar Equipment and Installation Cost[Lite 7 s Lees) 1.06("11
to Monthly Equipment and t.WitaCodfl�e9fp ....
2)) ?;tS 723 3 jJ 13
II Nuti.0 ofBasioSubersbcrs nntdeireF t: t.e .<.'
12 Monthly Equipruert and bast/Mon Cost per Subses3er[ine 10/Line Ill 'li!neWJ.SMAaI
13 Inflation Adjustment Foam[See Instructions)
14 Aeljustcd ManhlyFgwpstut ndLwtalWion Cost per Selsutber[Iac Rapine 13)
Se;
•
•
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0 L7
C=1.
CDN rn
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•
Federal Communications Commission,Washington,D.C. 20554 Approved by:OMB 3060-0592;Expires:4/30197
SUMMARY SCHEDULE
Curren'E*}osnl..d 6.n6l6ue.Rater IPaminod I Op.Selencd Rau I
I. Closes for Cable Service MYlaiius
t Harty Rale[Step A,Line
0.Averse imtadrim Quays:
I.Lotlallatian of Unwind Haines Pep B,Lre9a3) 177.MMTM
lurdlatioeo(Frowned team[Sap H.Line 9611 - - �(� S:?.}f.
3.InnJin of Additional Connection r las of kenJ InddlaionlStep B.Lia 9c3]
4.bWdlrice ofAdd'diml Corestiaw Rerpmig Saprale Install[Sap B,Line Edi) ........... :Si:SRd; c19.9!.
............::.
3.Otic Installations(apeei4J)ISnp B,Lina 9 7,9e6,9.91 .•••••••••�
5 .3?: S_cJ:
2 Mast*Chris for Lose of Rends Controls fSep C.Lv.e I7,cabman a-c) .
Rah Control Type I: ''"- a'v a 50.35
Rnnale Carmol Type 3:
3 N CLrp.fer lean of Converter Bane(Sep D.Linc 23,columns ti-e)
Convene;Boa Type I:DIGITAL y:;,:N:;V:;:;;:o
ilii::".f_:�'�:II:�Y
Conn?BOCTypc i ANALOG - £1.:i
Cowen.Box-lype3:
4 EIn. Gorge for Les oOlbe Equipn.eg pup£Linc 31
Wer BRUM.. •
(Specify) -t?;?%3G6'O�
5 Misr Ter O wing nen ant ISIWF.1-ie3.I.33 a 36n3 ..........:...'<`:Yt II.P9
LABOR COST MIO POLICY CHANCES
hhnteyoar envier to do follower dere"nations by plain an Y in tin.pp.opiiaee bon
I.Have you included the labor coda associate!trial subscriber obit drops in your charges Ede.oual'vcrallAion?
[X YES
NO
2.H.nyou npivaad de labor cods associated with absorber cable hops/
YES
X NO
3.If yam dare feed this fon.before,Mane you dreged any policy,es.,rest aco.neing or cod allocation Out.ants an inease in the reds
includd a the computation of equipsaen'and installations ci.ar_ao?
Lii oa YES(Yon dsnub*full eplaotiun)
—J
CERTIFICA7I0N STATLMENI
WILLFUL FALSE STATEMENTS MADE ON000S F0IL11 ARE PIJNIS}IABLE BT FINE AND/OR IMPRISONMENT
(LIS CODED-CIE II.SECTION 1001).AND/OR FORFEITURE(US.CODETITLE 47,SECTION 301)
1 certify dwt de raten.eos node in Ilea Tenn ne we ad correct no the bun dnryb.owidge and bd.d similar nude in goodfaith
[Nana of On Cable Operate. &C•mo<
3IEJ/L:COM TurAi.SYSTE.vn - - LEWIS AL BORK0
Dais PREPARED BY b4DLAC0M O409102 Tei --
REVIEWED B I RICO vILLLAHS ON 6'I P?Pm SENIOR MANAGER REGULATORY ACC0LeYTI*.0
CJ
t-5
0
0 JV
CD
7--
Page 7 Lotus 4.01 Win;Version 2.0 FCC Form 1205;May 1994
•
Federal Communications Commission, Washington, DC 20554 Approved by OMB 3060-0685
Worksheet g Te-Up Rate C...har2ed
instructions,gee Appendix A of in n.0000n For FCC loon 1210
tow h ig rho True-Up Piigin II L,m months? 12
. cticn 2.Flow Ionei the flue-1.1p Period 2,in monthx? 2
a
Line Line Description Basic Tier 2 Tier 3 Tier 4 Tier 5
:!;11 MonthI 1:1Fr: S11.0600
:1(12 Month 2 $130600
4'03 Month $130600
• 301 Month 4 $13.0600
NO5 Month 5 S13.0600
;t06 Month 6 $130600
107 Month 7 S11.0600
1.0: Month 2 $13.3901)
$09 Month 9 S13.3900 •
r:70 Month 10 513.3900
! 311 Month 11 513.3900
1112 Month 12 5131900
313 'Period 1 Average R.ale 513.197.5
• 14 Month 13 513.3900
i 3 Mouth 14 5133900
:116 Month 1$
417 Month IS
x111 Month 17
1.7 i 9 Mtnith 1X
120 Month 19
:121 Month 20
3-22 Month2I
Month 22
Month 23
'.2 Moral)24
- U1 Period 2 Average Rah, 513.3900
•
• C=3
0 (:)
>
- 71
CD
/'•
Page 1 Lotus 123 WK4 version FCC Form 1240, July 1996
FRANCHISE RELATED COSTS
TRUE-UP PERIOD I. 12/01/2000 to 11/30/2001
Date of Initial Date 1st Pass Date Last Pass #of Months to Remaining Mo's Gross Up Rate Initial Gross Prior Accum, Months in Period Remaining Return on Return+
Cost Incurred Thru to Cust. Thru to Oust. Recover to Recover From 1205 Cost Recovery Recover Period Recoveries Balance Rem.Balance Period Recov.
04/01/95 06/01/96 03/31/02 84 10 15.56% $4,355.98 $3,495.59 10 $860.39 $0.00 $0.00 $860.39
04/01/96 06/04/97 04/01/03 84 22 15.56% $3,738.87 $2,549.10 12 $648.97 $540.80 $84.15 $733.11
12/17/97 06/01/99 11/30/04 84 42 15.56% $161,365.95 $69,158.84 12 $26,345.46 $65,863.65 $10,248.38 $36,593.84
12/14/98 06101/99 11/30/05 84 54 15.56% $163,786.44 $46,796,12 12 $25,997.85 $90,992.47 $14,158.43 $40,156.28
12/20/99 06/01/00 12/31/06 84 68 15.58% $168,044.89 522,005.88 12 $25,771.59 $120,267.42 $18,713.61 $44,485.20
12/01/00 12/01/00 08/19/07 84 64 15.56% 5173,926.46 12 $24,846.64 $149,079,82 $23,196.82 $48,043.46
TOTALS $675,218.69 $144,003.53 $104,470.89 $426,744.17 $66,401.39 $170,872.28
' Total PEG Users 25,225
Cost/PEG User $6.77
IA0090 Subs 17,320
True-up Period'FCC Form 1240 IA0090 Cost $117.324.40
TRUE•UP PERIOD II 12/01/2001 to 12/31/2002
•
04/01/95 06/01/96 03/31/02 84 0 15.56% $4,355.98 $4,355.98 2 $0.00 ' $0.00 $0.00 $0.00
04/01/96 06/04/97 04/01/03 84 10 15,56% $3,738.87 $3,198.07 2 $108.16 $432.64 $11.22 $119.38
12/17/97 06/01/99 11/30/04 84 • 30 15.56% $161,365.95 $95,502:30 2 $4,390.91 $61,472.74 $1,594.19 $5,985.10
12/14/98 06/01/99 11/30/05 84 42 15.56% $163,786.44 $72,793.97 2 $4,332.97 $86,659.50 $2,247.37 $6,580.34
12/20/99 06/01/00 12/31/06 84 56 15.56% $168,044.89 $47,777.47 2 $4,295,27 $115,972.16 $3,007.54 $7,302.81
12/01/00 12/01/00 08/19/07 84 72 15.56% $173,926.46 $24,846.64 2 $4,141.11 $144,938.72 $3,758.74 $7,899.85
12/01/01 12/01/01 08/19/08 84 84 15.56% $178,448.55 2 $4,248.78 $174,199.78 $4,517.58 58,786.36
•
TOTALS $853,667.14 $248,474.42 $21,517.18 $583,675.53 515,136.65 $36,653.84
'Total PEG Users 25,833
Cost/PEG User $1.42
IA0090 Subs 17,928
True-up Period I FCC Form 1240 IA0090 Cost $25A,1_7_,,62
PROJECTED PERIOD 8/1/2002 to 7/31/2003
04/01/96 06/04/97 04/01/03 84 8 15.56% $3,738.87 $3,306.23 8 $432.64 $0.00 $0.00 $432.64
12/17/97 06/01/99 11/30/04 84 28 15.56% $161,365.95 $99,893.21 12 $26,345.46 $35,127.28 $5,465.80 $31,811.26
12/14/98 06/01/99 11/30/05 84 40 15.56% 5163,766.44 $77,126.94 12 $25,997.85 $60,661.65 $9,438.95 $35,436.80
12/20/99 06/01/00 12/31/06 84 54 15.56% $168,044.89 $52,072.74 12 $25,771.59 $90,200.57 $14,035.21 $39,808.80
12/01/00 12/01/00 12/31/07 84 70 15.56% $173,926.46 528,987.74 12 $24,846.64 $120,092.08 518,686.33 $43,532.96
12/01/01 12/01/01 12/31/08 84 82 15.56% $178,448.55 $4,248,78 12 $25,492.65 $148,707.13 $23,138.83 $48,631.48
"12/01/2002 12/01/02 12/31/08 84 84 15.56% $183,088.00 12 $26,155.43 $156,932.57 $24,418.71 $50,574.14
TOTALS $1,032,399.16 $265,635.63 $155,042.26 $611,721.27 $95,183.83 5250,226.09
•Total PEG Users 25,795
Cost/PEG User $9.70
ROR from latest FCC Form IA0090 Subs 17,890
1205[year end 12/00) 15.56% Projected Period FCC Form 1240 IA0090 Cost $173,543.12
•Total PEG Users include estimated subs in Iowa City,Johnson County,University Heights and Coraville. `� �,+'j1(\0\
Research Indicates that these communities use and benefit from the facilities paid for through PEG payments. ` Jit\C)` (���" `fl
Accordingly,a pro rata portion of the PEG payments have been excluded from the costs for Iowa City. Ni •• -,-i'1 • `1�J
••Payment for 12/01/2002 estimated based on increase in payment from 12/01/2000 to 12/01/2001. t r 1'4Z
13 :M 6
(,._\-1`11
EXHIBIT B
Franchise Agreement Section XI(C)
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cablecasting of the closed-circuit signals shall be provided by the Franchisee.
Franchisee shall provide channel scrambling as requested by the City and educational
institutions on the scrambled government and educational access channels.
F. Closed Captioning. Franchisee shall pass through all closed-circuit signals
received by the system for the hearing impaired. Closed-caption devices will be
provided for sale and installation by Franchisee.
G. Interactive Services. Franchisee will offer X*Press*/X*Change services,
(one per school) provided that these services remain available to the Franchisee, and
a guide to each school free of charge when such guides-are available for Franchisee.
XI. ACCESS CHANNELS, EQUIPMENT, FACILITIES, AND SERVICES.
In order to develop and promote public, educational, and government access
programming for the system's access channels, Franchisee hereby agrees to provide
the following:
A. Access Channels. During the rebuild, Franchisee shall maintain the number
and position of the access channels as shown in Appendix N, attached hereto and
incorporated by reference. Prior to the first subscriber being cut-over to the rebuilt
system, Franchisee shall provide the following number of dedicated access channels:
three (3) channels for government access; two (2) channels for educational access;
and one (1) channel for public access. The Franchisee, shall use its best efforts to
maintain the cable channel position of the access channels in existence on the
effective date of this Franchise. After the rebuild and upon the City's request,
Franchisee shall activate the following additional access channels on the basic tier;
one (1) channel for community programming and/or access and one (1) channel for
educational access. After the rebuild and upon the request of the City, whenever any
public access channels as set forth in this section shows documented proof of
performance that they are in use 80% of the cablecast week for any
6 week
consecutive timeframe, given at least 8 hours per day, 7da�moredr )eek ek cablecast
schedule, with at least 80% (of the time the channel is programmed),
ro9
uplicated
locally originated programming, the Franchisee shall make such additional access
channel(s) available as necessary for access use within 6 months of receipt of request
by the City. The City agrees to share the above listed access channels with other
communities served by the same headend on a switched basis. Franchisee shall
provide automatic switching from a site selected by the City for any switching needed
by the City to allow City programming to be viewed within the City while other
communities may be viewing other governmental programs. Other communities, such
as Coralville, served by the same headend shall have remote switching-capability to
allow programming to be viewed within their respective municipalities wile lowCity
programming continues to be viewed within the City of Iowa City.
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If Franchisee expands bandwidth, the City reserves ten percent of the
bandwidth for public, educational and government access use up to 100 analog
channels. Such bandwidth will be made available within six (6) months of a request
by the City. The City shall make such request when the governmental, educational,
and/or public access entities have demonstrated to the City that such additional
capacity is needed and usage meets the formula for bandwidth activation specified
above.
Such additional capacity shall be dedicated for the type of access specified
by the City. All active access channels shall be placed on the basic tier of service,
unless both parties mutually agree otherwise.
B. Access Equipment, Support, and Facilities. The Franchisee shall provide
the City with funds in monthly payments for equipment, facilities, and ongoing
support for public, educational, governmental access, and community access
programming, in an amount not to exceed the equivalent of fifty (50) cents per
subscriber per month for the entire term of this Franchise. The City shall provide
written notice to the Franchisee of the initial amount to be passed through and any
changes in the amount thereafter. Both parties agree that all such funds will not be
deducted from the franchise fee. The City agrees that all amounts paid by Franchisee
pursuant to this section may be added to the price of cable services and collected
from Franchisee's subscribers as "external costs" as such term is used in 47 C.F.R.
on the effective date of this Franchise. In addition, all amounts paid under this section
may be separately stated on subscriber's bills as permitted in 47 C.F.R. 76.985. Such
payments will be made by the Franchisee to the City on a monthly basis
C. Access Services. Franchisee agrees to continue to provide to the non-
profit corporation designated by the City and/or other entities designated by the City,
including the City itself, to carry out the day-to-day operations of public access and
community programming, annual payments based on $149,554.66 annual payment
in year one of the Franchise term. Said amount shall be increased successively
thereafter annually for inflation for the term of the Franchise. Both parties agree that
all said funds for access services will not be deducted from the franchise fee and
agree that only the annual inflation adjustments may be passed through to subscribers
and may be separately stated on subscriber's bills. This is in addition to the amount
specified in paragraph B above. All inflation adjustments shall be based upon the
annual CPI-PI published by the U.S. Department of Commerce. All annual payments
shall be due January 1st of each year.
D. Publicity. Franchisee agrees to provide the publicity services as specified
in Appendix. 0, attached hereto and incorporated by reference. C�
^
E. Optical Transmission Equipment. The Franchisee agrees tcilDOvide one—i I
digital, optical transmission package. The Franchisee agrees to connect the comical
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CERTIFICATE OF SERVICE
I,Barbara J. Chatman, a secretary at the law firm of Fleischman and Walsh,L.L.P.,
hereby certify that copies of the foregoing"Appeal of Local Rate Order"were served this 23rd
day of October 2002 via first-class mail,postage prepaid,upon the following:
*W. Kenneth Ferree,Esq.
Chief, Cable Services Bureau
Federal Communications Commission
The Portals II
445-12th St., S.W.,Room 3-C740
Washington,D.C. 20554
*John Norton, Esq.
Cable Services Bureau
Federal Communications Commission
The Portals II
445-12th Street, S.W.,Room 4-C764
Washington,D.C. 20554
Drew Shaffer
Cable TV Administrator
City of Iowa City
410 East Washington Street
Iowa City, IA 52240-1826
Marian Karr 0 Q
City Clerk > `---; --�
City of Iowa City C7 N
410 East Washington Street —;
Iowa City, IA 52240-1826 ''"
Barbara .. ` atm.1
*Via hand delivery
END
OF
CASE
FILE
JOHNSON COUNTY SHERIFF ' S DEPARTMENT
P.O. BOX 2540
IOWA CITY, IA 52244-2540
DATE: 05/03/02 ***** PROCESS SERVERS WORKSHEET *****
CP# : 000020023005 DOCKET: 00EQCV062735 AGENCY: 000020023005
PLTF: ROTH, L J RECONSTRUCTION PROCESS TYPE: ORIGINAL NOTICE
VS . PETITION
DFND: BARNES,ROGER DALE
AOR: 0000630 DOWNER, ROBERT N
AOR PHONE: 3193389222
COURT OF ORIGIN: JOHNSON CO
CP#/PARTY : 000020023005-08 DATE ASSIGNED: 05/03/02 SERVER: 00001 UNASSIGNED
SERVER ENTRY
SERVE BY: 00/00/00
DATE: TIME: AM/PM
HAZARDS : •
SERVICE TYPE:
PARTY: IOWA CITY,CITY OF
: 410 E WASINGTON ST BY SERVING:
C/O CITY CLERK
IOWA CITY IA
RACE: HEIGHT: RACE: HEIGHT:
4EIGHT: SEX: WEIGHT: SEX:
:IAIR: EYES : HAIR: EYES :
DOB: 00/00/00 SSN: DOB:
PHONE: SERVED AT:
EMPLOYER:
VEHICLE : YEAR: MAKE: MILEAGE SERV FEE:
MODEL:
LIC PLATE: STATE: MISC1 MISC2
DESCRIPTION:
2OMMENTS :
4 DATE TIME SERVR REASON
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3 SIGNATURE DATE
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TITLE j
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IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY
)
L.J. ROTH RECONSTRUCTION, INC., ) Zva I�l`�)/(r
Plaintiff, ) LAW NO. Y`C b /
)
v. )
) ORIGINAL NOTICE
ROGER DALE BARNES,TINA )
BARNES, RONALD S. HARDING, )
ALBERTA L. HARDING, CITY OF )
IOWA CITY, MELROSE ON THE )
WATER PARTNERS, HAWKEYE )
LUMBER CO., HAWKEYE READY )
MIX, INC., JOHNSON COUNTY ) s
READY MIX N/K/A RIVER VALLEY, ) �? < -ti
INC., IOWA DEPARTMENT OF ) ►�-- �'
REVENUE AND FINANCE, UNITED )
��-
STATES DEPARTMENT OF THE D c�
TREASURY, HOLIDAY WRECKER & )
CRANE SERVICE, McCABE )
EQUIPMENT INC., CREDIT BUREAU )
SERVICES OF IOWA,SHELMAN'S )
REPAIRS, and STATE OF IOWA, )
Defendants. )
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 defendants in this action. A copy of the petition (and any documents
filed with it) is attached to this notice. The names and address of the attorneys for the
plaintiff are Robert N. Downer and Jennifer E. Morrison. The attorneys' phone number is
319/338-9222;facsimile number 319/338-7250.
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 Johnson County, at the county courthouse in Iowa City, Iowa. If
you do not,judgment by default may be rendered against you for the relief demanded in
the petition.
If you require the assistance of auxiliary aids or services to participate in court
because of disability, immediately call your district ADA coordinator at (319/398-3920
Ext. 200 (If you are hearing impaired,call Relay Iowa TTY at 1-800-735-2942.)
(SEAL) LODEMA BERKLEY
---4f0/(A
CLERK OF COURT
Johnson County Courthouse
2f t
Iowa City, IA 52240
IMPORTANT: YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO
PROTECT YOUR INTERESTS
O'
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•
IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY
)
L. J. ROTH RECONSTRUCTION, INC., )
) LAW NO. �f�!/�JZ�j�r
Plaintiff, 6
)
v. )
) PETITION TO FORECLOSE
ROGER DALE BARNES,TINA ) MECHANIC'S LIEN
BARNES, RONALD S. HARDING, )
ALBERTA L. HARDING, CITY OF )
IOWA CITY, MELROSE ON THE )
WATER PARTNERS, HAWKEYE )
LUMBER CO., HAWKEYE READY ) 7. -11
MIX, INC., JOHNSON COUNTY )
READY MIX N/K/A RIVER VALLEY, ) _ r� tJ
INC., IOWA DEPARTMENT OF ` '
REVENUE AND FINANCE,UNITED )
STATES DEPARTMENT OF THE ) to C)
TREASURY,HOLIDAY WRECKER& ) ,E :�-
CRANE SERVICE, MCCABE )
EQUIPMENT INC., CREDIT BUREAU )
SERVICES OF IOWA, SHELMAN'S ) p` N
REPAIRS,and STATE OF IOWA, ) * mc
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Defendants. ) c-7 --c 1
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D� 14)
COMES NOW,the Plaintiff, and in support of its Petition to Foreclose
Mechanic's Lien, states as follows:
1. On January 16, 1996, Defendants Ronald S. Harding and Alberta L.
Harding signed a Real Estate Contract with Defendant Roger Dale Barnes, whereby
Defendant Roger Dale Barnes would purchase the following real estate:
Riverview Estates 22 & 27-80-6 Lot 13, Iowa City, Iowa(the "Property").
2. Defendants Ronald S. Harding and Alberta L. Harding are the legal
titleholders of the Property.
Y
3. Since January 16, 1996, Defendant Roger Dale Barnes and his wife,Tina
Barnes,have occupied the Property, and are the equitable owners thereof.
4. In the summer of 2001,the Property was damaged by water and fire.
5. On July 23,2001, Defendant Roger Dale Barnes entered a Work Order
and Authorization for Payment,a copy of which is attached hereto as Exhibit"A",
whereby Defendant Roger Dale Barnes authorized Plaintiff to perform all work necessary
to repair damage to the Property, and agreed to pay Plaintiff for Plaintiff's services,and
to assign to Plaintiff any payments received from American Family Insurance for the
damage.
6. Plaintiff began the work to repair damages on the Property on August 28,
2001, and completed said work on November 16, 2001.
7. A true, fair and reasonable account of the labor and materials that Plaintiff
furnished for needed repairs to the Property is attached hereto as Exhibit"B".
8. In accordance with Exhibit"B", Defendants Roger Dale Barnes and Tina
Barnes owe Plaintiff a total of Sixteen Thousand One Hundred Four Dollars and Eighty-
One Cents($16,104.81) for Plaintiff's services, all of which remains unpaid as of the date
of the filing of this Petition.
9. On February 8, 2002,Plaintiff filed a Mechanic's Lien on the Property for
the amount of the unpaid debt in question plus seven percent(7%)interest per annum
from December 17,2001. A copy of said Lien is attached hereto as Exhibit"C".
10. Iowa Code Section 572.32 provides for attorney fees in the case of suit
filed to enforce a Mechanic's Lien. Attached hereto as Exhibit"D"is an Affidavit Re:
Attorney Fees.
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11. Defendants City of Iowa City,Melrose on the Water Partners,Hawkeye
Lumber Co.,Hawkeye Ready Mix,Inc.,Johnson County Ready Mix,N/K/A River
Valley Inc., Iowa Department of Revenue and Finance,Department of the Treasury,
Holiday Wrecker&Crane Service,McCabe Equipment Inc., Credit Bureau Services of
Iowa, Shelman's Repairs, and the State of Iowa all have judgments against Defendant
Roger Dale Barnes and liens upon the Property. However,the Property may be exempt
from execution upon such liens because the Property is a homestead, and Plaintiffs said
lien may otherwise be superior under applicable laws. Therefore the Defendants' liens are
inferior to Plaintiff's lien with respect to the property in question.
WHEREFORE, Plaintiff L.J. Roth Reconstruction, Inc.prays that the Court
foreclose upon its Mechanic's Lien,that the Court give Plaintiffs Mechanic's Lien
priority against inferior rights,that Plaintiff be awarded Sixteen Thousand One Hundred
Four Dollars and Eighty-One Cents($16,104.81), plus attorney fees, interest and costs as
provided by law, and for such other relief as is equitable in the premises.
► •� a 'S i PPEL& :OWNER P.L.C.
By: /Mir r
R+bert N.'Downer 000001324
By: 4 „„ ,1/104Av -
Je! 'fer E. Morrison 000017233
122 South Linn Street
Iowa City, IA 52240
Phone: 319/338-9222
Fax: 319/338-7250
ATTORNEYS FOR PLAINTIFF
3
Cc: Roger Dale Barnes
13 Riverview Estates
Iowa City, IA 52240
Tina Barnes
13 Riverview Estates
Iowa City, IA 52240
Ronald S. Harding
225 Auburn Hills Dr
Coralville, IA 52241
Alberta L. Harding
225 Auburn Hills Dr
Coralville, IA 52241
City of Iowa City
Marian Karr, City Clerk
410 E. Washington
Iowa City, IA 52240
Melrose on The Water Partners
9 South Linn St
Iowa City, IA 52240
Hawkeye Lumber Co.
803 S Dubuque St
Iowa City, IA 52240
^
Hawkeye Ready Mix, Inc. > '- T
321 W Cherry St
North Liberty, IA 52317 r T1
Johnson County Ready Mix 7
n/k/a River Valley, Inc. D "'
c/o Patrick Courtney
2007 1St Ave SE
Cedar Rapids, IA 52402
Iowa Department of Revenue and Finance
Gerald D. Bair,Director
Hoover State Office Building
P.O. Box 10471
Des Moines, IA 50306-0471
4
1
Cc: United States Department of the Treasury
Paul O'Neill, Secretary of the Treasury
1500 Pennsylvania Avenue NW
Washington, DC 20220
Holiday Wrecker& Crane Service
211 E 10th St
Coralville, IA 52241
McCabe Equipment, Inc.
1000 25th Ave
Coralville, IA 52241
Credit Bureau Services of Iowa
Leonard C. Grimes
1306 S 7th St
Oskaloosa, IA 52577
Shelman Repairs
920 W Penn St
North Liberty, IA 52317
State of Iowa
Chester J. Culver, Secretary of State
Lucas State Office Bldg. 1s`Fl
Des Moines IA 50319
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• EXHIBIT "A"
112 South Main St.
► % O I Olds,IA 52647
� II� i. Fax:319-254-2230
� RECONSTRUCTION, INC. 800-776-3473
Fire, Water, Storm Dama'e Specialists
Work Order and Authorization for Payment
INS CoA -Q v r G a i FC[GYMir 1 l/ Claimant_T'h ce R p r e r Q cr r h e S
Adjuster R 0 wU�" P) e- Address /3 R v 2 r (/ e. u/ r
_To wu c �'�y i 1- 5-2_1170
I authorize L.J. Roth Reconstruction Inc. to proceed with all of the work
necessary pertaining to W a Tr? • Q a ry, a 1 2
I understand the services to be performed by L.J. Roth Reconstruction Inc. will
be limited to those which are authorized by my insurance company, 4-rn - r",` C, 'c h
akin ,' 17 . Any amount not paid for by the insurance company is the
Insured's Responsibility.
All Insurance deductibles are the responsibility of the insured.
I authorize/fm e r` c a h Fan, ,` to pay L.J. Roth
Reconstruction Inc. directly for the service performed and/or to include their name on
the claim payment check.
If the owner elects not to complete the repairs and the owner and the contractor
agree on the terms, the owner will be responsible for all the contractor's expenses
including the itemized estimate.
In the event of default by the buyer, buyer agrees to pay all costs of collection
including reasonable attorney fees in addition to other damages incurred by seller, as well
as a 1%2 percent service charge per month.
Signature: ,• • jf Date: 23—6, 0
Signature: Date:
M fri
to
EXHIBIT "B"
L.J. ROTH RECONSTRUCTION, INC.
•
112 SOUTH MAIN, OLDS, IOWA 52647
319-254-2413
STATEMENT
DATE December 17, 2001
ADJUSTER Rod Warnke CLAIMANT Roger &Tina Barnes
INS. CO. American Family Insurance ADDRESS Iowa City, Iowa
QUANTITY DESCRIPTION UNIT MATERIAL LABOR MATERIAL -
COST COST COST LABOR TOTAL
Water damage repair as per
agreement with GAB - Robins $13,460.62
F Ire-damage repair as per
agreement with (JAB - Robins $2,644.19
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THIS ESTIMATE IS BASED ON OUR INSPECTION AND DOES NOT Gl
COVER ADDITIONAL PARTS OR LABOR WHICH MAY BE REQUIRED -
AFTER THE WORK HAS BEEN STARTED. Al I ER THE WORK HAS '
STARTED,DAMAGED PARTS WHICH ARE NOT EVIDENT ON FIRST
INSPECTION MAY BE DISCOVERED. NATURALLY THIS ESTIMATE
CANNOT COVER SUCH CONTINGENCIES. PARTS PRICES SUBJECT �
TO CHANGE WITHOUT NOTICE. THIS ESTIMATE IS FOR 1' v,
IMMEDIATE ACCEPTANCE. t-
BY. TOTAL $16,104.81
1
•
EXHIBIT "C" p
/AJ2 t/n410/�
Alanson K. Elgar ISBA#1395 -
MECHANIC'S LIEN
STATE OF IOWA, HENRY COUNTY,ss:
I,the undersigned affiant, Vice President of the Claimant,being duly sworn,depose and say that the
following statement is true to the best of my knowledge and belief, and is made of my personal knowledge:
On the dates set forth in the Statement of Account attached as Exhibit"A", L.J.Roth Reconstfuction, Inc
(the"Claimant")furnished material or labor for,or performed labor upon,the building or land for improvement,
alteration, or repair thereof,situated upon, or being identical with the following described real estate in Johnson
County, Iowa(the"Real Estate"):
Riverview Estates 22&27-80-6, Lot 13,Iowa City, Iowa.
The items in Exhibit"A"were furnished pursuant to a contract made by the then owner of the Real Estate,
the owner's agent,trustee, contractor,or subcontractor and were furnished by Claimant who is the contractor there
under. These items were furnished beginning the 28th day of August,2001,and ending on the 16th day of
November,2001, at the respective dates,amounts and prices stated in Exhibit"A",which is a true and just statement
of account after allowing all credits.
The owner,agent or trustee of the Real Estate was then Ronald S. Harding and Alberta L. Harding,
Contract Sellers,whose last known mailing address is 225 Auburn Hills Drive,Coralville,IA, and Roger Dale
Barnes, Contract Purchaser,whose last known mailing address is 13 Riverview Drive. Iowa City, IA 52240, is now
the Contract Purchaser of the Real Estate.
There is now due and owing to Claimant the principal sum of S16,104.81 with interest thereon at 7%per
annum from the 17th day of December,2001,for which sum and interest,together with costs and attorney fees as
provided by law,Claimant asserts a mechanic's lien against such building, improvement and the Real Estate.
X Check here if this claim is being made by a person who has furnished labor or materials to a subcontractor,this
box must be checked for the purpose of making the following certification:
The undersigned affiant hereby certifies that within thirty days after the above referred to labor or
materials were first furnished,the principal contractor was notified in writing with a one-time notice
containing the below claimant's name mailing address,and telephone number and the name of the
subcontractor to whom the labor or materials were furnished.
gre7Z.,
Jeff Roth, Vice President,Affiant
Acting for L.J. Roth Reconstruction,Inc., Claimant
Subscribed in my presence and sworn to before me by the above named Affiant this 8th day of Fuary,
2002. ^,
-71� 1 .
Alanson i Elgar
NOTARY PUBLIC IN AND FOR THE STATEZEJOWAr
My Commission as a Notary Expir 0$-3 I
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EXHIBIT "D"
IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY
)
L. J. ROTH RECONSTRUCTION, INC., )
Plaintiff, ) LAW NO.
)
v. )
) AFFIDAVIT RE:
ROGER DALE BARNES, TINA ) ATTORNEY FEES
BARNES, RONALD S. HARDING, )
ALBERTA L. HARDING, CITY OF )
IOWA CITY, MELROSE ON THE )
WATER PARTNERS, HAWKEYE )
LUMBER CO., HAWKEYE READY )
MIX, INC.,JOHNSON COUNTY )
READY MIX N/K/A RIVER VALLEY, )
INC., IOWA DEPARTMENT OF )
REVENUE AND FINANCE, )
DEPARTMENT OF THE TREASURY, )
HOLIDAY WRECKER & CRANE )
SERVICE, MCCABE EQUIPMENT )
INC., CREDIT BUREAU SERVICES OF )
IOWA, SHELMAN'S REPAIRS, and )
STATE OF IOWA, ) -� -,
Defendants. ) =10
rn 72"., ill
D csi
STATE OF IOWA )
ss:
COUNTY OF JOHNSON )
I, Robert N. Downer, being first duly sworn on this` day of April,2002, upon my
oath depose and state that I am the attorney who filed the Petition to Foreclose Mechanic's
Lien to which this Affidavit is attached and there has been no agreement between me, this law
♦
firm and the Plaintiff, express or implied, nor between me and this law firm or any other
person for any division or share of the fee to be taxed as a result of the events alleged in the
above-captioned matter, any such fees when taxed to be in favor of Meardon, Sueppel &
Downer P.L.C. as compensation for services actually performed in this action.
ri
1AkJAL
R• :ERT N. DO ER
Subscribed and sworn to before me by Robert N. Downer on this ao?'1-'1 day of April,
2002.
Notary Public in and for=ate State of Iowa
/a/io/od
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D F
END
OF
CASE
FILE
JOHNSON COUNTY SHERIFF' S DEPARTMENT
P.O. BOX 2540
IOWA CITY, IA 52244-2540
DATE : 11/15/02 ***** PROCESS SERVERS WORKSHEET *****
CP# : 000020027806 DOCKET: 00LACV063329 AGENCY: 000020027806
PLTF: HILL,ANGELA MAY PROCESS TYPE: ORIGINAL NOTICE
VS . PETITION
DFND: DROLL,D A DEMAND FOR JURY
AOR: 0000891 GARDNER, STEVEN
AOR PHONE: 5156831626
COURT OF ORIGIN: JOHNSON CO
CP#/PARTY : 000020027806-02 DATE ASSIGNED: 11/15/02 SERVER: 00001 UNASSIGNED
SERVER ENTRY
SERVE BY: 00/00/00
DATE: I
` - \ -) TIME: 1�OAM/PM
HAZARDS : SERVICE TYPE: .9 e-l0V /1
` ( -(u i-
PARTY: IOWA CITY, CITY OF
: 410 E WASHINGTON ST BY SERVING:
C/O CITY CLERK u� ' I I/I ,
dPLf
IOWA CITY IA
RACE: HEIGHT: RACE: HEIGHT:
WEIGHT: SEX: WEIGHT: SEX: I7
HAIR: EYES : HAIR: 64, EYES:
DOB: 00/00/00 SSN: DOB:
PHONE: SERVED AT:
EMPLOYER:
VEHICLE: YEAR: MAKE: MILEAGE SERV FEE:
MODEL:
LIC PLATE: STATE: MISC1 MISC2
DESCRIPTION:
COMMENTS :
# DATE TIME SERVR REASON
•1
2 SIGNATURE DATE
3
TITLE
4
5
IN THE DISTRICT COURT OF THE STATE IOWA
IN AND FOR JOHNSON COUNTY
0
ANGELA MAY HILL, >n
-�= Yl
Plaintiff, `j'
-- �: u
vs. Law No. L A-cVD4
N
D. A. DROLL, and IOWA
CITY, IOWA,
Defendants.
ORIGINAL NOTICE
TO THE ABOVE-NAMED DEFENDANT: D. A. DROLL and IOWA CITY, IOWA
You are notified that a Petition has been filed in the office of the Clerk of this Court,
naming you as the Defendant in this action. A copy of the Petition (and any documents filed with
it) is attached to this Notice. The attorney for the Plaintiff is Steven Gardner of KIPLE,
DENEFE, BEAVER, GARDNER & ZINGG, L.L.P. whose address is 104 South Court Street,
P. O. Box 493, Ottumwa, Iowa 52501. That attorney's phone number is (641) 683-1626;
facsimile number (641) 683-3597.
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 Johnson County, at the county courthouse in Iowa City, Iowa. If you do not,judgment
by default may be rendered against you for the relief demanded in the Petition.
If you require the assistance of auxiliary aids or services to participate in Court because
of a disability, immediately call your district ADA coordinator at (641) 684-6502. (If you are
hearing impaired, call Relay Iowa TTY at 1-800-735-2942).
(SEAL) LODEMA BERKLEY
CLERK OF OURT
JOHNSON COUNTY COURTHOUSE
Iowa City, Iowa 52240
IMPORTANT
YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR
INTERESTS.
H:Veaniel WORDIDOCIHILL-04.wpd
Lc C . lq • ,
ti � C m
'
c4
IN THE DISTRICT COURT OF THE STATE IOWA
IN AND FOR JOHNSON COUNTY
ANGELA MAY HILL,
co
Plaintiff, 4,
vs. Law No. L AGV 0 4 3 32 q
D. A. DROLL, and IOWA (JURY TRIAL DEMANDED)
CITY, IOWA,
Defendants.
PETITION AT LAW
COUNT I
COMES NOW the Plaintiff,Angela May Hill, and for cause of action against Defendants
D. A. Droll and Iowa City, Iowa, states as follows:
1. Plaintiff is a resident of Fairfield, Jefferson County, Iowa.
2. Defendant D. A. Droll is a resident of Johnson County, Iowa.
3. Iowa City,Iowa is a municipality organized and existing in Johnson County, Iowa.
4. Defendant D. A. Droll is a police officer employed by Defendant Iowa City, Iowa.
5. On or about May 21, 2002, Defendant D. A. Droll filed his Complaint with the
Johnson County Magistrate charging Plaintiff Angela May Hill with the offense
of Operating While Intoxicated in violation of Iowa Code Section 321J.2 occurring
on or about February 5, 2002.
6. That as a result of the filing of the aforesaid Complaint, the Johnson County
Magistrate issued a Warrant of Arrest for Angela May Hill pursuant to the
provisions of Iowa Code Section 804.1.
7. On or about May 28, 2002, Plaintiff Angela May Hill was arrested obthe warjant
issued by Johnson County, Iowa. A
a
0-‹ �l
; 1
a
ry
8. Acting under color of state law, Defendants and each of them violated the Civil
Rights of Plaintiff granted her by the constitution of the United States,
Amendments 4 and 5, by causing her arrest under warrant without probable cause
and by violating rights against double jeopardy and depriving her of her life and
liberty without due process of law.
9. That the aforesaid violation of Plaintiff's Civil Rights was a proximate cause of
damages to the Plaintiff.
10. That the Defendants violation of Plaintiff's Civil Rights was intentional, willful,
and in bad faith.
11. That the Defendants should be liable for punitive damages.
12. That the amount of damages sought is more than the jurisdictional amount and
more than the amount required by Rule 6.3 of the Iowa Rules of Appellate
Procedure.
13. That Plaintiff demands a trial by jury of all issues in this case.
WHEREFORE, the Plaintiff prays for judgment against the Defendants, jointly and
severally, as follows:
(a) Actual or compensatory damages in a reasonable amount together with
interest as provided by law;
(b) Punitive damages in a reasonable amount together with interest as provided
by law;
(c) Attorneys fees; and,
(d) Costs of this action.
ANGELA MAY HILL, PLAIN IFF
z,zz,
By: �:-`"_._-
Steven Gardner, WP0008277
KIPLE, DENEFE, BEAVER, GARDNER
& ZINGG, L.L.P.
104 South Court Street No
P.O. Box 493 0
Ottumwa, Iowa 52501 S.7_7,
Telephone: (641) 683-1626
Facsimile: (641) 683-3597=+C) cn
E-Mail: kiplelaw(a,pcsia:c-S , -_) 71
doo\nuI.05 ATTORNEY FOR PLAINT) I
N
2
END
OF
CASE
FILE
JOHNSON COUNTY SHERIFF' S DEPARTMENT
P.O. BOX 2540
IOWA CITY, IA 52244-2540 FIL Er)
DATE: 05/22/02 ***** PROCESS SERVERS WORKSHEET *****
2702 NY 23 Pi
CP#: 000020023436 DOCKET: 000020023436 AGENCY: 0000.2b023436
PLTF: HARVEST MGMT REAL ESTATE PROCESS TYPE: NOTICI Y �„�t: ,
�`il^�
�
DFND: HUNTER,DEAN IOWA CITY IOWA
AOR: 0000631 MEARDON, CHARLES A
AOR PHONE: 3193389222
COURT OF ORIGIN: JOHNSON CO
CP#/PARTY : 000020023436-01 DATE ASSIGNED: 05/22/02 SERVER: 00001 UNASSIGNED
SERVER ENTRY
SERVE BY: 00/00/00
DATE: TIME : AM/PM
HAZARDS :
SERVICE TYPE :
PARTY: IOWA CITY, CITY OF
: 410 E WASHINGTON ST BY SERVING:
C/O CITY CLERK
IOWA CITY IA
RACE: HEIGHT: RACE : HEIGHT:
WEIGHT: SEX: WEIGHT: SEX:
HAIR: EYES : HAIR: EYES :
DOB: 00/00/00 SSN: DOB:
PHONE: SERVED AT:
EMPLOYER:
VEHICLE: YEAR: MAKE : MILEAGE SERV FEE:
MODEL:
LIC PLATE: STATE : MISC1 MISC2
DESCRIPTION:
COMMENTS : C/O CITY CLERK
** AMENDED NOTICE **
4 DATE TIME SERVR REASON
2 SIGNATURE DATE
3
TITLE
4
5
FILE°
1002171 Y 23 P,f 1. 58
IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUNTY CITY
,
7RK
i y
HARVEST MANAGEMENT REAL ) lOwti c
ESTATE HOLDINGS. L.L.C., ) NO. IOWA
)
Plaintiff. )
)
vs. )
) AMENDED NOTICE OF APPEAL
CITY OF IOWA CITY. IOWA, ) OF CONDEMNATION AWARD
JOHNSON COUNTY, IOWA, )
GARY HUNTER and DEAN HUNTER, )
)
Defendants. )
TO: City of Iowa City, Iowa; Sheriff of Johnson County, Iowa; Johnson County. Iowa; Gary
Hunter and Dean Hunter
YOU AND EACH OF YOU ARE HEREBY NOTIFIED that the above-named Plaintiff,
Harvest Management Real Estate Holdings, L.L.C., does hereby appeal from the acts of the
Compensation Commission and its report entered on April 29. 2002, including the amount of
damages. A copy of the Notice of Appraisement of Damages and Time for Appeal is attached
hereto as Exhibit "A" and by this reference made a part hereof
YOU AND EACH OF YOU ARE FURTHER HEREBY NOTIFIED that Plaintiff will file
a petition as prescribed by the provisions of Iowa Code Chapter 6B and that this appeal is to the
Iowa District Court in and for Johnson County and will come on for hearing pursuant to the rules
prescribed by said District Court.
Dated this 22nd day of May, 2002.
MEARDON, SUEPPEL & DOWNER P.L.C.
By 46S 1 I <(U A a6L-1
Mark T. Hamer 000001986
By
/.7%
` / A- itejj&.
Charles A. Meardon 000009771
122 South Linn Street
Iowa City,Iowa 52240
Telephone: 319/338-9222
Facsimile: 319/338-7250
ATTORNEYS FOR PLAINTIFF
o
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ni -v m
D
co
2
Notice of Appraisement of
Damages and Times for Appeal
In the Matter of the Condemnation of Certain Rights in Land by )
THE CITY OF IOWA CITY ) O
for the use and benefit of said CITY OF IOWA CITY ) D 1
n�
located In JOHNSON -"H co
rn
County, Iowa )
D �n
a)
To: HARVEST MANAGEMENT REAL ESTATE HOLDINGS, CITY OF IOWA CITY
I Conderrcee's
Land and I Consequential Total ' Attorney Fees
Improvements Damages Award , and Ccsts
HARVEST MANAGEMENT REAL ESTATE $ $ S 215,000.00 $
HUL01NG"S LU.
You and each of you are hereby notified that the duly appointed and qualified commissioners assessed and
appraised the damages sustained by reason of the condemnation as set out above, and that pursuant:o the
Code of Iowa,you may within thirty(30)days from the date of mailing this Notice,appeal to the District Court
as by law provided.
Dated this 29 day of APRIL 2002
90LA 041)
EXHIBIT "A"
Sheriff of JOHNSON County. Iowa
Condemnations-Page 39-10/01
• 1
IN THE IOWA DISTRICT COURT IN AND FOR JOHNSON COUN7
HARVEST MANAGEMENT REAL ) 71
ESTATE HOLDINGS, L.L.C., ) NO. o N -=
Plaintiff, ) C rn 0
moi, o
vs. ) y
NOTICE OF APPEAL OF `D
CITY OF IOWA CITY, IOWA, ) CONDEMNATION AWARD
Defendant. )
TO: City of Iowa City, Iowa and Sheriff of Johnson County, Iowa
YOU AND EACH OF YOU ARE HEREBY NOTIFIED that the above-named Plaintiff,
Harvest Management Real Estate Holdings, L.L.C., does hereby appeal from the acts of the
Compensation Commission and its report entered on April 29, 2002, including the amount of
damages. A copy of the Notice of Appraisement of Damages and Time for Appeal is attached
hereto as Exhibit "A" and by this reference made a part hereof.
YOU AND EACH OF YOU ARE FURTHER HEREBY NOTIFIED that Plaintiff will file
a petition as prescribed by the provisions of Iowa Code Chapter 6B and that this appeal is to the
Iowa District Court in and for Johnson County and will come on for hearing pursuant to the rules
prescribed by said District Court.
Dated this )rrL day of May, 2002.
MEARDON, SUEPPEL& DOWNER P.L.C.
By /d1-1 .77-2/
rle%r-(c/ l ���
T. Hamer 000001986
c:. F : a,,, -��
• a
By C.�,(.�ly/
Charles A. Meardon 000009771
122 South Linn Street
Iowa City, Iowa 52240
Telephone: 319/338-9222
Facsimile: 319/338-7250
ATTORNEYS FOR PLAINTIFF
O
0
cp
Q
19- )-/7".
a
D
2
05-15-02 05: 14PM FROM JOHNSON CT? SHERIF"F P02
Notice of Appraisement of
Damages and Times for Appeal
P
In the Matter of the Condemnation of Certain Rights in Land by ) >
THE CITY OF IOWA CITYC7
) c=g •
for the use and benefit of said CITY OF IOWA CITY ) r 0
o
:coated :n JOHNSON D C)
County, Iowa )
To: HARVEST MANAGEMENT REAL ESTATE HOLDINGS, CITY OF IOWA CITY
i I Ccnderrnee's
Land and Consequential Total : Attorney Fees
Improvements Damages Award and Costs
HARVEST MANAGEMENT REAL ESTATE $ S $ 215,000.00 $
HULL1tfbS
•
You and each of you are hereby notified that the duly appointed and qualified commissioners assessed and
appraised the damages sustained by reason of the condemnation as set out above, and that pursuant:o the
Code of Iowa,you may within thirty(30)days from the date of mailing this Notice,appeal to the District Court
as by law provided.
Dated this 29 day of APRIL 2002
01)
EXHIBIT "A" &LA
Sheriff of JOHNSON County, Iowa
Condemnations—Page 39--10/01
END
OF
CASE
FILE
JOHNSON COUNTY SHERIFF' S DEPARTMENT
P.O. BOX 2540
IOWA CITY, IA 52244-2540
DATE: 11/27/02 ***** PROCESS SERVERS WORKSHEET *****
CP# : 000020028114 DOCKET: 00LACV063389 AGENCY: 000020028114
PLTF: BENNETT,CAROLYN PROCESS TYPE: ORIGINAL NOTICE
VS . PETITION
DFND: BRUGGER,WAYNE II
AOR: 0000815 LOBODIAK,NESTOR
AOR PHONE: 3193514996
COURT OF ORIGIN: JOHNSON CO
CP#/PARTY : 000020028114-01 DATE ASSIGNED: 11/27/02 SERVER: 00001 UNASSIGNED
SERVER ENTRY
SERVE BY: 00/00/00
DATE: TIME: AM/PM
HAZARDS:
SERVICE TYPE:
PARTY: IOWA CITY, CITY OF
: 410 E WASHINGTON ST BY SERVING:
do MJ/oi Carr
IOWA CITY IA 52240
RACE: HEIGHT: RACE : HEIGHT:
WEIGHT: SEX: WEIGHT: SEX:
HAIR: EYES: HAIR: EYES :
DOB: 00/00/00 SSN: DOB: C�
PHONE: SERVED AT: �� _ tt
EMPLOYER: x*• :3
4a
Co
VEHICLE: YEAR: MAKE: MILEAGE SERV FEE:
MODEL:
LIC PLATE: STATE: MISC1 MISC2
DESCRIPTION:
COMMENTS :
# DATE TIME SERVR REASON
1
2 SIGNATURE DATE
3
TITLE
4
5
•
IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY
CAROLYN BENNETT and )
GEORGE E. BENNETT JR.; )
LACV
Plaintiffs; )
) ORIGINAL NOTICE C�
v. )
CITY OF IOWA CITY and ) Tj
WAYNE BRUGGER II; ) f. ti
C' ;7
Defendants. )
TO: THE ABOVE-NAMED DEFENDANTS co
You are notified there is a Petition at Law on file in the office of the clerk
of the above court. A copy of this filing is attached hereto. The Plaintiffs'
attorney is Nestor Lobodiak, Tom Riley Law Firm, P.L.C., whose address is 1210
Highway 6 West, Iowa City, Iowa 52246. The Plaintiffs' attorney's phone number
is (319) 351-4996, with a facsimile transmission number of (319) 351-7063.
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 in the Iowa District Court for Linn County, at the county
courthouse in Cedar Rapids, 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 1-
319-398-3920, Ext. 200. (If you are hearing i i p.ired, ca - Iowa TTY at 1-
800-735-2942.)
L is EMA BF,1 KLEY
CLE of the above Court
Linn County Courthouse
Cedar Rapids, Iowa
IMPORTANT
YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT
YOUR INTERESTS.
Cc_ •
c:
IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY 1:1-o
m
CAROLYN BENNETT and )
GEORGE E. BENNETT JR.; co
D'
LACV
Plaintiffs; )
) PETITION AT LAW
v. )
CITY OF IOWA CITY and )
WAYNE BRUGGER II; )
t
Defendants. )
COME NOW Plaintiffs and for their Petition at Law state as follows:
1. Plaintiffs Carolyn Bennett and George E. Bennett Jr. are mother and son.
Carolyn Bennett is a resident of Johnson County, Iowa.
2. Defendant City of Iowa City was and is a municipal corporation organized
and existing under the laws of the State of Iowa.
3. Defendant Wayne Brugger II, at all times material, was a resident of
Johnson County, Iowa, and an employee of Defendant City of Iowa City.
4. On Thursday, April 11, 2002, Plaintiff Carolyn Bennett was a passenger in
a bus owned and operated by Defendant City of Iowa City as a common carrier of
passengers, traveling westbound on Highland Avenue, at or near the intersections of
Spruce, Pine, Ash, and Franklin Streets, in Iowa City, Johnson County, Iowa.
5. On Thursday, April 11, 2002, Defendant Wayne Brugger II, was operating
a bus owned by Defendant City of Iowa City traveling westbound on Highland Avenue,
at or near the intersections of Spruce, Pine, Ash, and Franklin Streets, in Iowa City,
Johnson County, Iowa.
,
6. At the aforementioned location, Defendant Wayne Brugger II negligently
operated the bus he was driving. Defendant Wayne Brugger II's negligence includes,
but is not limited to; driving at a speed greater than reasonable and proper in violation
of Iowa Code §321.285 (2001); and failing to control the bus he was driving and failing
to reduce its speed to a reasonable and proper rate when approaching and traveling
through a crossing or intersection of highways or streets in violation of Iowa Code
§321.288(3)(2001).
7. Defendant Wayne Brugger II's negligence is imputed to Defendant City of
Iowa City pursuant to Iowa Code §321.493 (2001).
8. Defendant Wayne Brugger II's negligence is imputed to Defendant City of
Iowa City pursuant to the doctrine of respondeat superior.
9. Defendant City of Iowa City is also individually negligent for failing to
properly maintain and/or repair Highland Avenue prior to April 11, 2002.
10. Defendants' negligence is a proximate cause of serious personal injury to
Plaintiff Carolyn Bennett.
11. As a proximate result of Defendants' negligence, Plaintiff Carolyn
Bennett's damages include: past and future physical and mental pain and suffering;
past and future medical expenses; and past and future loss of full body.
12. As a proximate result of Defendants' negligence, Plaintiff George E.
Bennett Jr.'s damages include past and future loss of parental consortium of his
mother, Carolyn Bennett.
l
(`) l
iJ
co
co
WHEREFORE, Plaintiffs pray for judgment against Defendants, jointly and
severally, for an amount sufficient to fairly compensate them for their damages that
exceed the jurisdictional requirement of Rule 6.3, Iowa Rules of Appellate Procedure,
and for interest and costs as provided by law.
TOM RILEY LAW FIRM, P.L.C.
Nestor •bodiak #00000.760
210 Highway 6 West
lot a Ci y, IA 52246
(31 • •1-4996
ATTORNEY FOR PLAINTIFFS
U
_..:
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5-5
Co
END
OF
CASE
FILE
JOHNSON COUNTY SFHERIFF' S DEPARTMENT
P.O. BOX 2540
IOWA CITY, IA 52244-2540
DATE: 09/03/02 ***** PROCESS SERVERS WORKSHEET *****
CP#: 000020026003 DOCKET: 00EQCV063157 AGENCY: 000020026003
PLTF: BANK OF AMERICA PROCESS TYPE: ORIGINaL NOTICE
VS . PETITON J
DFND: SHEPHERD,JOHN R AFFIDAV
-
-r) I-
AOR:
AOR: 0001011 BOECKER,THEODORE R 1
AOR PHONE: 5152229400
COURT OF ORIGIN: JOHNSON CO , -,
CP#/PARTY : 000020026003-12 DATE ASSIGNED: 09/03/02 SERVER: 60001 UNASSIGNED
SERVER ENTRY
SERVE BY: 00/00/00
DATE: n - U\Ca TIME:C1TL AM/PM
HAZARDS : (�
SERVICE TYPE: 1'c4• CWU
PARTY: IOWA CITY, CITY OF
: C/O CITY CLERK BY SERVING: (' \ GI
410 E WASHINGTON YRf
IOWA CITY IA 52240 r
RACE: HEIGHT: RACE: C,1 HEIGHT:
WEIGHT: SEX: WEIGHT: SEX:
HAIR: EYES : HAIR: EYES :
DOB: 00/00/00 SSN: DOB:
PHONE: SERVED AT:
EMPLOYER: 4W) L wp ,‘ 4Q,
VEHICLE: YEAR: MAKE: MILEAGE SERV FEE:
MODEL:
LIC PLATE : STATE: MISC1 MISC2
DESCRIPTION:
COMMENTS:
# DATE TIME SERVR REASON
1
2 SIGNATURE DATE
3
TITLE
4
5
IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY
BANK OF AMERICA, N.A. , 94-1687665 :
Plaintiff, : EQUITY N0. f�G✓Q(e nS7
vs . • ORIGINAL NOTICE
•
JOHN R. SHEPHERD; ROBERT CARPENTER; :
GARY HUGHES; ROBERT DOLEZAL; J. r�
PATRICK WHITE; R.J. WINKELHAKE; O
MIKE BROTHERTON; MATT JOHNSON; n cn
JIM LIND; IOWA CITY PRESS-CITIZEN; L
�,.7
CITY OF IOWA CITY, IOWA; JOHNSON -- �,.
COUNTY, IOWA; JOHNSON COUNTY
SHERIFF' S DEPARTMENT and STATE -'� '
OF IOWA, �.
cn
Defendants . : D
TO THE ABOVE NAMED DEFENDANTS :
You are notified there is a petition now on file in the
office of the clerk of the above court . A copy of this filing is
attached hereto. The Plaintiff ' s attorneys are Petosa, Petosa, &
Boecker, L.L. P. , by Theodore R. Boecker, whose address is 1350 NW
138th Street, Suite 100, Clive, Iowa 50325-8308 . The Plaintiff' s
attorney' s phone number is (515) 222-9400, with a facsimile
transmission number of (515) 222-9121 .
You must serve a motion or answer, within 20 days after
service of this original notice upon you and within a reasonable
time thereafter file, a motion or answer, in the Iowa District
Court of Johnson County, at the county courthouse in Iowa City,
Iowa. If you do not, judgment by default may be rendered against
you for the relief demanded in the petition.
If you require the assistance of auxiliary aids or services
to participate in court because of a disability, immediately call
your district ADA coordinator at 3141.3cr8'-3aZQ %Z(t) . (If you
are hearing impaired, Call Relay Iowa TTY at 1-800-735-2942) .
LODE A BERKLEY
Clerk of the ove Court
Johnson County Courthouse
Iowa City, Iowa 52240
YOU ARE ADVISED TO SEEK LEGAL ADVICE AT ONCE TO PROTECT YOUR INTERESTS.
cA)
�-j I La "1 Ce_
r
IN THE IOWA DISTRICT COURT FOR JOHNSON COUNTY
BANK OF AMERICA, N.A. , 94-1687665 :
Plaintiff, : EQUITY NO. aO4.(,3157
vs . • PETITION
JOHN R. SHEPHERD; ROBERT CARPENTER; :
GARY HUGHES; ROBERT DOLEZAL; J.
PATRICK WHITE; R.J. WINKELHAKE; •
MIKE BROTHERTON; MATT JOHNSON; •
JIM LIND; IOWA CITY PRESS-CITIZEN; :
CITY OF IOWA CITY, IOWA; JOHNSON .
COUNTY, IOWA; JOHNSON COUNTY
SHERIFF' S DEPARTMENT and STATE •
OF IOWA, • ' "c\
Defendants . : ' l-
1 , \
NOTICE
THE PLAINTIFF HAS ELECTED FORECLOSURE WITHOUT REDEMPT' N.
0
THIS MEANS THAT THE SALE OF THE MORTGAGED PROPERTY WILL OCCUR
PROMPTLY AFTER ENTRY OF JUDGMENT UNLESS YOU FILE WITH THE COURT A
WRITTEN DEMAND TO DELAY THE SALE. IF YOU FILE A WRITTEN DEMAND,
THE SALE WILL BE DELAYED UNTIL SIX MONTHS FROM ENTRY OF JUDGMENT
IF THE MORTGAGED PROPERTY IS YOUR RESIDENCE AND IS A ONE-FAMILY
OR TWO-FAMILY DWELLING OR UNTIL TWO MONTHS FROM ENTRY OF JUDGMENT
IF THE MORTGAGED PROPERTY IS NOT YOUR RESIDENCE OR IS YOUR
RESIDENCE BUT NOT A ONE-FAMILY OR TWO-FAMILY DWELLING. YOU WILL
HAVE NO RIGHT OF REDEMPTION AFTER THE SALE. THE PURCHASER AT THE
SALE WILL BE ENTITLED TO IMMEDIATE POSSESSION OF THE MORTGAGED
PROPERTY. YOU MAY PURCHASE AT THE SALE .
' O C7 5,0
1 _J
The Plaintiff for cause of action states :
1 . That the Plaintiff, Bank of America, N.A. , is a
corporation doing business in the United States of America.
2 . That on or about November 30, 1978 , John R. Shepherd
and Harry G. Bolton, Jr. made, executed and delivered to
Rothschild Financial Corporation, their promissory note in
writing for the sum of $38, 550 . 00 payable in installments, with
interest at 9 . 5% per annum from date of said note .
3 . That on or about November 30, 1978 in order to secure
the payment of said note, the said John R. Shepherd and Harry G.
Bolton, Jr. made, executed and delivered to Rothschild Financial
Corporation, a real estate mortgage on the following described
real estate, to-wit :
A part of Lot Ten of Yocum Subdivision in the North
Half of the Northeast and Northwest Fractional Quarters
of the Northwest Quarter of Section 3 , Township 79
North, Range 6 West of the 5t'' P.M. , described as
follows :
Beginning at the Northwest corner of Lot 10 of said
Yocum Subdivision; thence S 89°56 ' 00" E 202 . 52 feet to
the Northeast corner of said Lot 10 ; thence S 1°27 ' 00"
E 47 . 50 feet on the East line of said Lot 10 ; thence N
89°56 ' 00" W 126 . 90 feet; thence S 40°19 ' 00" W 39 . 50
feet; thence N 89°56 ' 00" W 32 . 00 feet to the West line
of said Lot 10; thence N 13°56 ' 00" W 80 . 00 feet to the
point of beginning.
which said mortgage was filed for record December 4 , 1978 in Book
264, Page 99 in the Recorder' s Office of Johnson County, Iowa, a
copy of said mortgage being attached hereto and made a part
hereof as Exhibit "A" . U
fj
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r-•
2 iI 71 y„ '► 1
LD
4 . That said note and mortgage were subsequently assigned
to Plaintiff .
5 . That Plaintiff is the sole and absolute owner of the
mortgage above mentioned; that said 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 Plaintiff by reason of the
failure of the mortgagor (s) to pay said installments, declares
said note in default, that there is now due and owing Plaintiff
the sum of $38, 550 . 00 with interest at 9 . 5% per annum from and
including December 1, 2001 .
6 . That the Plaintiff has given the mortgagor (s) notice of
the right to cure said default and to date has received no
response thereto. That the time to cure the default under the
statute has now expired.
7 . That said note and mortgage provide that if suit be
commenced thereon, mortgagor (s) will pay reasonable attorneys '
fees; that an attorneys ' fee affidavit is attached hereto and
made a part hereof as Exhibit "B" .
8 . That the Plaintiff mortgagee 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. . ,
Plaintiff hereby elects to foreclose without redemption l e
sale of the mortgaged property shall occur promptly after entry
3 �J
D` cn
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 .
9 . That the Plaintiff alleges that whatever right, title
or interest in or lien upon said real estate said Defendants may
have is junior to the right , title and interest of Plaintiff, by
virtue of said mortgage, which this Plaintiff avers to be a prior
lien upon said real estate, the rents and profits therefrom.
10 . That Robert Carpenter, Johnson County Sheriff ' s
Department, Johnson County, Iowa, Gary Hughes, Robert Dolezal , J.
Patrick White, R.J. Winkelhake, Mike Brotherton, Matt Johnson and
Jim Lind are named as party Defendants because of any lien
arising from Case No. 58067 .
That Robert Carpenter, Johnson County Sheriff ' s
Department, Johnson County, Iowa, Gary Hughes, Robert Dolezal , J.
Patrick White, R.J. Winkelhake, Mike Brotherton, Matt Johnson and
Jim Lind are further named as party Defendants because of any
lien arising from Case No. LACV058024 .
10 . That State of Iowa is named as a party Defendant
because of Case No. SMSM018136 wherein judgment was entered
against John Roger Shepherd on November 19, 1997 .
That State of Iowa is further named as a party
Defendant because of Case No. ARAP046048 wherein judgment was ;
entered against John Roger Shepherd on December 31, 1997 =
4 `•g
y (.n
That State of Iowa is further named as a party
Defendant because of Case No. SMSM017784 wherein judgment was
entered against John Roger Shepherd on March 18, 1998 .
That State of Iowa is further named as a party
Defendant because of Case No. ARAP047438 wherein judgment was
entered against John Roger Shepherd on May 5, 1998 .
That State of Iowa is further named as a party
Defendant because of Case No. SRCR060512 wherein judgment was
entered against John Roger Shepherd on March 20, 2002 .
That State of Iowa is further named as a party
Defendant because of Case No. OWCR059165 wherein judgment was
entered against John Roger Shepherd on March 29, 2002 .
That State of Iowa is further named as a party
Defendant because of Case No. SMSM038895 wherein judgment was
entered against John Roger Shepherd on March 29, 2002 .
That State of Iowa is further named as a party
Defendant because of Case No. STWG173884 wherein judgment was
entered against John Roger Shepherd on March 29, 2002 .
11 . That City of Iowa City, Iowa is named as a party
Defendant because of CISC04782 .
12 . That Iowa City Press-Citizen is named as a party
Defendant because of SCSC053978 .
13 . That in the event Plaintiff is required to mance;_
ti
additional sums for taxes, sewer rental , solid waste asse-sssmeYits—
or insurance on said real estate, the Plaintiff should be-givn
an additional lien thereon for such amounts so advance j..`
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14 . That said 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 mortgagee, appoint a receiver to
take immediate possession of said 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
property involved in this action for the amount of unpaid
principal and interest on said note, as provided in said 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 said real estate,
and to apply the same in payment of costs and expenses of said
receivership, repairs and expenses of said real estate, accrued
and accruing taxes and special assessments, insurance premiums,
and in partial payment of the judgment to be entered herein.
3 . That said judgment, together with interest, attorneys '
fees, abstract expense, costs and accruing costs be decreed a '
prior lien upon said real estate from the date of said rrioxt�age;,
and that all rights, interests and equities of all Defendants o
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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 said real estate,
the Plaintiff should be given an additional lien thereon for such
amounts so advanced.
5 . That said mortgage be foreclosed and the Defendants '
equity of redemption be barred and foreclosed save as guaranteed
by law. That special execution issue for the sale of said real
estate to satisfy said judgment, interest, attorney fees and
costs .
6 . 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 .
7 . That Plaintiff be granted such further relief as may be
just and equitable .
PETOSA, PETOSA & BOECKER, L.L. P.
By
Theodore R. Boecker PK0000439
1359 NW 138th Street, Suite 100
Clive, Iowa 50325
Telephone : (515) 222-9400
Facsimile : (515) 222-9121
_ N
ATTORNEYS FOR PLAINTIFF U
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°y ILII I IIIIIIINDINIIIIIIINIIINIIINiIII OFT This form is used in connection with
mortgages insured under the one.to
four-family provisions of the National
STATE OF IOWA Housing Act
FHA FORM NO.2119m
Rev.2/76 MORTGAGE FHA 161-073779-270 Plan III
WITH DEFERRED INTEREST AND INCREAS ING MONTHLY INSTALLMENTS
THIS MORTGAGE made this 30th day of November , A.D. 19 78 , between
John R. Shepherd, a single person, and Harry G. Bolton, Jr., a single' person,
of the County of Johns on ,and State of Iowa,hereinafter called the Mortgagor,and
ROTHSCHILD FINANCIAL CORPORATION
,a
corporation organized and existing under the laws of the State of Minnesota ,and
having its principal place of business and post-office address at Degree of Honor Building, St. Paul,
Ramsey County, Minnesota ,hereinafter called the Mortgagee:
WITNESSETH:That the Mortgagor,in consideration of Thirty-eight Thousand Five Hundred Fifty
and no/100- Dollars($ 38,550.00 ),the receipt whereof is hereby acknowledged,does,by
these presents,SELL AND CONVEY unto the Mortgagee,forever,the following-described real estate situated in the County
N. of Johnson ,State of Iowa,to wit:
A PART OF LOT TEN OF YOCUM SUBDIVISION IN THE NORTH HALF OF THE NORTHEAST
Mn AND NORTHWEST FRACTIONAL QUARTERS OF THE NORTHWEST QUARTER OF SECTION
t 3, TOWNSHIP 79 NORTH, RANGE 6 WEST OF THE 5TH P.M. , DESCRIBED AS FOLLOWS.
1Beginning at the Northwest corner of Lot 10 of said Yocum Subdivision;
`'1 N thence S 89°56'00" E 202.52 feet to the Northeast corner of said Lot 10;
h thence S 1°27'00" E 47.50 feet on the East line of said Lot 10; thence
9• C N 89°56'00" W 126.90 feet; thence S 40°19'00" W 39.50 feet; thence N 89°
O 56'00" W 32.00 feet to the West line of said Lot 10; thence N 13°56'00"
N4 ' W 80.00 feet to the point of beginning. Said tract contain 0.25.4.acr.es, •
subject to easements and restrictions of record. $OOf6
C/ tU .._;.._.moi -
5063 1978 DEC - FM I: 299 ''
4EC�,RCE +.
including all buildings and improvements thereon, or that may hereafter be erected thereon,and,so WI-WSW E&Y.alralltiP,
may hereafter belong to or be used with said real estate or buildings thereon and whether attached or detached,all elevators,
• all gas, steam, electric, or other heating, lighting, plumbing, ventilating, sprinkling, irrigating, water and power systems,
appliances, fixtures and apparatus, all storm and screen windows and doors,and all other fixtures;together with all rents,
issues and profits thereof until the debt secured hereby is paid in full,as well as all the reversion and reversions,remainder
and remainders, hereditaments, appurtenances and all other rights thereunto belonging or in anywise now or hereafter
appertaining.
4 And the Mortgagor hereby covenants that he is seized of the said premises in fee simple,and that he has good right to sell
and convey the same;that the premises are free from all encumbrances and that he will warrant and defend the title to the
same unto the Mortgagee against the lawful claims of all persons whomsoever.
CONDITIONED,HOWEVER,That if the Mortgagor shall pay or cause to be paid to the Mortgagee,as is provided in a
. certain promissory note of even date herewith,the terms of which are incorporated herein by reference,the principal sum of
Thirty-eight Thousand Five Hundred Fifty and no/100-
Dollars($ 38,550.00 ),with interest from date at the rate of Nine and one half
per centum ( 91 %)per annum on the balance remaining from time to time unpaid,principal and interest
being payable at the office of Rothschild Financial Corporation, Degree of Honor Building,
St. Paul Ramsey County, Minnesota ia1tor, at such other
place as the holder of the note may designate in writing,in monthly installments RR ACCORDING TO THE SCHEDULE
ATTACHED TO SAID NOTE XX),commencing on re.-
the first day of January ,1979,and on the first day of each month thereafter until the Oincipal c^
and interest are fully paid, except that the final payment of principal and interest, if not sooner paid,shall be-rru nd ''".-'
payable on the first day of December, 20025. and shall also r/)
fully perform all the covenants,conditions and terms of this mortgage,then these presents shall be void otherwise to remain nrI
in full force and effect. **DEFERRAL OF iREST MAY INCREASE THE 'RINCIPAL "-U
The Mortgagor covenants and agrees that: BALANCE TO $40,459.02. 1 ----
1. He will pay the principal of and the interest on the indebtedness evidenced by the note secured hereby,at the times "C".
and in the manner therein provided.Privilege is reserved to pay the debt in whole,or in an amount equal to one or more Tfl
monthly payments on the principal that are next due on the note,on the first day of any month prior to maturity;provided,
however,that written notice of an intention to exercise such privilege is given at least thirty(30)days prior to prepayment. —
J
2. In order more fully to protect the security of this mortgage,together with,and in addition to,the monthlypayments c j
of principal and interest under the terms of the note secured hereby,he will pay to the Mortgagee on the first day of each "
month until the note is fully paid the following sums: '�
(a) An amount sufficient to provide the holder hereof with funds to pay the next mortgage insurance premium if this CJ
instrument and the note secured hereby are insured,or a monthly charge(in lieu of a mortgage insurance premium)
if they are held by the Secretary of Housing and Urban Development,as follows:
(1)1f and so long as said note of even date and this instrument are insured or are reinsured under the provisions of
the National Housing Act,an amount sufficient to accumulate in the hands of the holder one(1)month prior to
its due date the annual mortgage insurance premium,in order to provide such holder with funds to pay such
premium to the Secretary of Housing and Urban Development pursuant to the National Housing Act, as
amended,and applicable Regulations thereunder;or
(11)If and so long as said note of even date and this instrument are held by the Secretary of Housing and Urban
Development,a monthly charge(in lieu of a mortgage insurance premium)which shall be in an amount equal to
one-twelfth (1/12) of one-half(%t)per centum of the average outstanding balance due on the note computed
without taking into account delinquencies or prepayments;
-
•
(b) A sum equal to the ground rents,if any,and the taxes and special assessments next due on the premises covered by
this mortgage, plus the premiums that will next become due and payable on policies of fire and other hazard
insurance on the premises covered hereby (all as estimated by the Mortgagee)less all sums already paid therefor
divided by the number of months to elapse before one (1) month prior to the date when such ground rents,
premiums,taxes,and assessments will become delinquent,such sums to be held by Mortgagee in trust to pay said
ground rents,premiums,taxes.and special assessments,before the same become delinquent;and
(c) All payments mentioned in ti,. two preceding subsections of this paragraph and all payments to be made under the
note secured hereby shall be added together,and the aggregate amount thereof shall be paid by the Mortgagor each
month in a single payment to be applied by the Mortgagee to the following items in the order set forth:
(I)premium charges under the contract of insurance with the Secretary of Housing and Urban Development,or
monthly charge(in lieu of mortgage insurance premium),as q azse may be;
(ll)ground rents,taxes,special assessments,fire and other ha in rance premiums;
(111)interest on the note secured hereby;a��
(IV)amortization of the principal of said o
Any deficiency in the amount of such a ega IC!! thly pa t shall,unless made good by the Mortgagor prior to
the due date of the next such paym nt2 oust 2 e an event of-, fault under this mortgage.The Mortgagor agrees to
pay a "late charge"not to exceed nts( for each dollar($1)for each payment more than fifteen(15)days
in arrears,to cover the extra expense involved in handling delinquent payments.
3. If the total of the payments made by the Mortgagor as hereinabove in subsection(b)of paragraph 2 provided,shall
exceed the amount of the payments actually made by the Mortgagee for ground rents,taxes and assessments or insurance
premiums,as the case may be,such excess,if the loan is current,at the option of the Mortgagor,shall be credited on subsequent
payments to be made by the Mortgagor,or refunded to the Mortgagor. If, however,the monthly payments made by the Mortgagor
under such subsection shall not be sufficient to pay ground rents,taxes and assessments or insurance premiums,as the case may
be,when the same shall become due and payable,then the Mortgagor shall pay to the Mortgagee any amount necessary to make
up the deficiency,on or before the date when payment of such ground rents,taxes,assessments or insurance premiums shall
be due. If at any time the Mortgagor shall tender to the Mortgagee in accordance with the provisions of the note secured
hereby,full payment of the entire indebtedness represented thereby,the said Mortgagee shall,in computing the amount of
such indebtedness,credit to the account of the Mortgagor all payments made under the provisions of subsection (a) of
paragraph 2 above, which the Mortgagee has not become obligated to pay to the Secretary of Housing and Urban
Development and any balance remaining in the funds accumulated under the provisions'of subsection(b)of such paragraph.
If there shall be a default under any of the provisions of this mortgage resulting in a public sale of the premises covered
hereby or if the Mortgagee acquires the property otherwise after default, the Mortgagee shall apply at the time of the
commencement of such proceedings, or at the time the property is otherwise acquired,the balance then remaining in the
funds accumulated under such subsection (b) of paragraph 2 as a credit against the amount of principal then remaining
unpaid under the note and shall properly adjust any payments which have been made under subsection(a)of such paragraph.
4. He will pay all ground rents, taxes and assessments,general,local or special(except the Federal and State income
taxes)for the payment of which provision is not otherwise made herein,which may be imposed upon said land,premises or
property or upon the Mortgagee's interest therein, or upon this mortgage, or upon the said debt or other sums hereby
secured;expressly waiving and renouncing hereby any and all right to discharge the debt or any sums hereby secured or any
part hereof by the payment of any such ground rents,taxes or assessments;without regard to any law heretofore enacted or
which may hereafter be enacted imposing payment of the whole or any part thereof upon the Mortgagee.He will not suffer
or permit any such ground rents,taxes or assessments to become or remain delinquent on said premises or any part thereof,
or any interest therein to be sold for any ground rents,taxes or assessments.He will furnish annually to the Mortgagee,prior
to the date when they would become delinquent,certificates or receipts of the proper officer showing full payment of all
such ground rents,taxes and assessments.
5. That the Mortgagor will keep the improvements now existing or hereafter erected on the mortgaged premises,insured
as may be required from time to time by the Mortgagee against loss by fire and other hazards,casualties and contingencies in
such amounts and for such periods as it may require and will pay promptly,when due,any premiums on such insurance
provision for payment of which has not been made hereinbefore.All insurance shall be carried in companies approved by the
Mortgagee and the policies and renewals thereof shall be held by it and have attached thereto loss payable clauses in favor of
and in form acceptable to the Mortgagee.In event of loss he will give immediate notice by mail to the Mortgagee who may
make proof of loss if not made promptly by the Mortgagor,and each insurance company concerned is hereby authorized and
directed to make payment for such loss directly to the Mortgagee instead of to the Mortgagor and the Mortgagee jointly,and
the insurance proceeds,or any part thereof,may be applied by the Mortgagee at its option,either to the reduction of the
indebtedness hereby secured or to the restoration or repair of the property damaged.In event of foreclosure of this mortgage
or other transfer of title to the mortgaged property in extinguishment of the debt secured hereby,all right,title,and interest
of the Mortgagor in and to any insurance policies then in force shall pass to the purchaser or grantee.
6. Upon his failure to pay ground rents,taxes and assessments,or to make payments on account thereof,or to furnish
certificates or receipts therefor,or to make payments on account of insurance premiums,all as herein-before provided,the
Mortgagee may procure such insurance,pay such ground rents,taxes and assessments,redeem the property from any tax sale
and procure certificates or receipts;and the Mortgagor shall within ten(10)days pay to the Mortgagee all sums which it may
have so paid or become obligated to pay,together with interest at the rate set forth in the note secured hereby from the date
of such payment;and same shall be secured by this mortgage.
7. He will keep the property in as good order and condition as it now is and will not commit or permit any waste
thereof,reasonable wear and tear excepted.
8. He will pay to the Mortgagee within ten (10) days all sums, including costs,expenses and reasonableryts'and c'
attorneys'fees which it may expend or become obligated for in any proceedings,legal or otherwise,to establish or s1ssta n the '
lien of this mortgage or its priority;or in defending against liens, claims, rights,estates,easements or restrictions"orany
person or persons'asserting priority thereto. He will pay a reasonable attorneys'fee in connection with any suit to enforce or 1%1
to foreclose this mortgage, or to recover any sums secured hereby,including all costs and expenses,with interest upon all l7 "� I
such sums at the rate set forth in the note secured hereby from the date the same were paid;and the payment of said sums 1 t
and interest shall be secured by this mortgage. — ----
9. Upon maturity of said debt or other sums secured hereby,whether in course or otherwise as hereinbefore-provided,
the Mortgagee shall have the right to enter into and upon the premises hereinbefore conveyed and take possession thereof or -. , j 1
to appoint an agent or trustee for collection of the rents,issues and profits thereof;and the net income,after allowing a -�
reasonable fee.for the collection thereof, and management of the property, may-he applied to the paymenj-nf fixes, --
insurance premiums and other charges against the property,or in reduction of the debt or other sums secured hereby.; and the r
rents,issues and profits are hereby specifically pledged to the payment of the debt hereby secured and of all other,AAbligations r_
which may accrue under the terms of this mortgage.
• 10. The Mortgagor further agrees that should this mortgage and the note secured hereby not be eligible for insurance
under the National Housing Act within Ninety days from the date hereof
(written statement of any officer of the Department of Housing and Urban Development or authorized agent of the Secretary
of Housing and Urban Development dated subsequent to the Ninety days time from the
date of this mortgage,declining to insure said note and this mortgage,being deemed conclusive proof of such ineligibility),
the Mortgagee or the holder of the note may,at its option,declare all sums secured hereby immediately due and payable.
vim ,,
11. If default shall be made in the payment of the note secured hereby or any part of the interest thereon promptly on
maturity,or if there shall be a failure to comply with any and every condition of this mortgage,then the note,and the whole
of the indebtedness secured by this mortgage, including all payments for ground rents, taxes, assessments or insurance
premiums,shall,at the option of the Mortgagee,become due and collectible at once by foreclosure or otherwise and without
notice of broken conditions;and at any time after the 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 Mortgagee, appoint a receiver to take
immediate possession of said property and of the rents and profits accruing therefrom,and 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 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.
12. If the note and mortgage,or either of them,shall be placed in the hands of an attorney for collection or foreclosure,
or other legal proceedings, the Mortgagor will pay a reasonable attorney's fee for any service rendered by an attorney in
connection herewith, and all expenses incurred in procuring abstracts of-the title for purposes of the foreclosure suit,and
such attorney's fee and expenses, shall be considered as part of the indebtedness secured by this mortgage and collectible
accordingly.
13. Failure of the Mortgagee to exercise any option granted herein shall not be deemed a waiver of his right to exercise
such option at any other time.
14. If the premises,or any part thereof,be condemned under any power of eminent domain,or acquired for a public
use, the damages, proceeds and consideration from such acquisition,to the extent of the full amount of the indebtedness
upon this mortgage and the note secured hereby remaining unpaid,are hereby assigned by the Mortgagor to the Mortgagee
and shall be paid forthwith to the Mortgagee,to be applied by it on account of the last installment of such indebtedness.
It is further agreed,under Chapter 628,Code 1966,as amended,that in the event of the foreclosure of this mortgage and
in the event of the finding by court decree in such foreclosure that the real estate hereinabove set out has been abandoned by
the owners and persons personally liable under the mortgage at the time of foreclosure and'in the event the mortgagee waives
any right to a deficiency judgment against the mortgagor or his successors in interest,then the period of redemption from
foreclosure sale will be reduced to sixty(60)days,subject to the other provisions of the above-referenced law as amended.
It is further agreed that in the event of the'foreclosure of this mortgage and sale of the property by sheriff's sale in said
foreclosure proceedings, the time of one year for redemption from said sale provided by the statutes of the State of Iowa
shall be reduced to 6 months, provided the Mortgagee waives in said foreclosure proceedings any rights to a deficiency
judgment against the Mortgagor which may arise out of the foreclosure proceedings.
The signing of this mortgage and the note secured hereby by the spouse of the owner is not only for the purpose of
releasing dower or distributive share,but also for the purpose of creating a personal liability for the indebtedness evidenced
by said note and secured by this mortgage.
If more than one joins in the execution hereof as Mortgagor,or any be of the feminine sex,the pronouns and relative
words herein used shall be read as if written in the plural or the feminine respectively.The covenants herein contained shall
bind,and the benefits and advantages inure to,the respective heirs,executors,administrators,successors and assigns of the
parties hereto. have
IN WITNESS WHEREOF, the Mortgagor(s)Mgpchereunto set their hand(s) the day and year first above
written.
le •VAgill t-""t.-4:7
oit R. SShegher
HarryG.dBolton, Jr.
STATE OF IOWA
s s:
COUNTY OF Linn
On this 30th day of November A.D.Nineteen Hundred and
Seventy-eight ,before me a Notary Public in and for Linn County,State of
Iowa,personally appeared John R. Shepherd, a single •erson, and Harry G. ;•lton, r.
a single person, , o m known to be the .erson(s)n med and who executed the
foregoing instrument and acknowledged that they e ecute. the same a '(he' voluntary act
and deed :.
-49
ea . 'ores Notary Public in and for said County
NOTARIAL. SEAL /
—o
STATE OF IOWA01
r� -per
} Fri
COUNTY OF
This instrument was filed for Record the day of ..
A.D.19 ,at o'clock M. d duly
recorded in Book of at Page CD
County Recorder
•
HUD-Wsah.,D.C.
GPO 908-637
6,4:71.%S.,'
FORM asa•� xy1y •
. SCHEDULE A •
• Number Date of Policy Amount of Insurance
V83284 December 41, l478 $40,4581,02
1. Name of Insured:
DERAL NATIONAL MORTGAGE ASSOCIATIONii
'EA corporation' organized and existing
ender the laws of the United ,St\ tes and/or SECRETARY OF HOUSING AND. URBAN
>EVELOPMENT OF WASHINGTON,; D,C''i t Their Respective Successors And Assings As
'heir Interests May Appear, •
2. The estate or interest referredd to herein is at Date of Policy vested in: C
t
'ohn R, Sheperd and Harry G, Bolton,, Jr,
•
f
3. The estate or interest in the land described in this Schedule•and which is encumbered by the insured mortgage is: f.
1
Feesimple t
P
4. The mortgage, herein referred to as the insured mortgage, and the assignments thereof, if any, are described as follows: f
t
.ortgage dated November 30r - 1978 filed December 4,, 1;978., in Book 264 , page •
9, executed by. John R, Sheperd- and -Barry G, Bolton„ Jr,, to Rothschild
inancial Corporation to secure $400459, 02,
i
ssigned to Federal National Mortgage Association in assignment dated @,
ovember 30, 1978 filed December 4, 1978,, Book .533i page 188 '
l'
h
•
ii
is
5. The land referred to in this policy is described as follows: Johnson County,' Iowa
part of Lot ten of Yocum Subdivision in the North. half of the Northeast
nd Northwest Fractional quarters of the Northwest quarter of Section 3,
ownship 79 North., Range 6 West of the 5th P,M, , Described as follows: i
eginning at the Northwest: corner of Lot 10 of said Yocum Subdivision{
hence IS 89056100" E 202, 52 feet to the Northeast corner of said Lot 10;
hence S 1027 4OO4 E 47, 50. feet on' the East line of said Lot .1.0; thence g
89056COO" W 126, 90 feet; thence S 40Q19 '00" >T 39:, 50 feet; thence N 89056 '00" P
32. 00 feet to the West line of said Lot 10; thence N 13o ,
' 56‘k00" W 80, 00
eet to the point of beginning,
J
.�C'C.) cn
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rn .:7-,,,. :T1
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•
This policy valid only if Schedule B is attached. > CD
C)
FORM 3228 R 9.73
• SCHEDULE B
Policy Number I V83284
Loan
This policy does not insure against loss or damage by reason of the following:
1. Lien of the general real estate taxes for fiscal year July 1, 1978,
through June 30, 1979, and thereafter.
2. Easement in favor of Iowa-Illinois Gas and Elcetric Company over the
Westerly 5 feet and Northerly 5 feet of subject premises dated July
25, 1962, filed July 27, 1962, Book 230, page 275.
3. Special assessments hereafter levied
Note: There are no special assessments now a lien against the prem}.Sesv
•
•
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Countersigned
I. 4
Auth•rized Signatory
Schedule B of this Policy consists of 1 pages.
AFFIDAVIT
STATE OF IOWA )
SS
COUNTY OF POLK )
I, Theodore R. Boecker, being first duly sworn, upon oath
depose and state that I am one of the attorneys for the Plaintiff
in this cause; that I am a regular practicing attorney engaged in
this case; that there has been no agreement, express or implied,
between myself and my client, or between myself and any other
person except attorneys associated with me in this case, for any
sharing or division of the attorney fees to be taxed herein.
I further depose and state that true copies of the note and
mortgage and any other documents declared upon in the foregoing
Petition are now in my actual possession; that I have read the
above and foregoing Petition, know the contents thereof, have
personal knowledge of the facts therein stated, and that the
statements and allegations therein are true as I verily believe .
.,,,,O (//.6K/-e-41,-----
Theodore R. Boecker PK0000439
Subscribed and sworn to before me this --27 day of August,
2002, at Des Moines, Iowa.
/, /C.":...., c=2—-,----‘v----7---
__...
Notary P .lic in and for the
�Pa`A` s NANCY K. DAVIS State of Iowa
x° * COMMISSION NO. 715818
AMY COMMISSION EXES
IOWA
�/---9 Exhibit "B" �'
D
r;Y _
ii
CD
D C.
END
OF
CASE
FILE