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GIBERSON v. FIRST FED. S & L ASS'N OF WATERLOO

No. 67448.

329 N.W.2d 9 (1983)

Elwood C. GIBERSON and Marjorie H. Giberson, Appellants, v. FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF WATERLOO, Iowa, Appellee.

Supreme Court of Iowa.

January 19, 1983.

Attorney(s) appearing for the Case

Lorna L. Williams, Des Moines, for appellants.

George D. Keith of Martin, Miller, Keith & Pedersen, Waterloo, for appellee.

Considered by REYNOLDSON, C.J., and LeGRAND, UHLENHOPP, HARRIS and McCORMICK, JJ.

McCORMICK, Justice.

Plaintiffs Elwood C. and Marjorie H. Giberson own residential property in Cedar Falls subject to a mortgage to defendant First Federal Savings and Loan Association of Waterloo, Iowa. The property was damaged by fire, and the insurer issued a check payable to plaintiffs and defendant jointly. Plaintiffs initiated the present declaratory judgment action in equity seeking to establish their right to use the money to repair the property. By counterclaim...

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