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FEDERAL DEPOSIT INS. CORP. v. FARRAR

No. 2-56919.

231 N.W.2d 602 (1975)

FEDERAL DEPOSIT INSURANCE CORPORATION, as receiver of State Bank of Prairie City, Prairie City, Iowa, Appellee, v. Foster Wayne FARRAR, Appellant.

Supreme Court of Iowa.

July 31, 1975.

Attorney(s) appearing for the Case

Robert W. Pratt and Dennis J. Kirkwood, Des Moines, for appellant.

R. Eugene Knopf, Newton, for appellee.

Heard by MOORE, C.J., and RAWLINGS, LeGRAND, UHLENHOPP and REYNOLDSON, JJ.

MOORE, Chief Justice.

Defendant Foster Wayne Farrar (Farrar) appeals from deficiency judgment entered on promissory notes executed by him and held by plaintiff Federal Deposit Insurance Corporation (FDIC), as Receiver of State Bank of Prairie City (State Bank).

In Division I of its petition FDIC sought a deficiency judgment of $1694.42, plus interest, on the note secured by Farrar's mobile home and in Division II a deficiency judgment of $445, plus interest...

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