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FARMERS SAV. BANK, JOICE v. GERHART

No. 84-823.

372 N.W.2d 238 (1985)

FARMERS SAVINGS BANK, JOICE, Iowa, Appellee, v. Charles F. GERHART, Penelope J. Gerhart, and Chaspen Corporation, Appellants.

Supreme Court of Iowa.

Rehearing Denied September 19, 1985.

Attorney(s) appearing for the Case

Mark S. Soldat, Algona, for appellants.

Fred J. Haas of Humphrey & Haas, Des Moines, and Craig G. Ensign of Ensign & Ensign, Northwood, for appellee.

Considered by REYNOLDSON, C.J., and HARRIS, LARSON, SCHULTZ, and CARTER, JJ.

SCHULTZ, Justice.

In this appeal we address issues arising from the simple foreclosure of a real estate mortgage. On March 8, 1983, the Farmers Savings Bank, Joice, Iowa, (bank), filed a petition in equity against defendants Charles F. Gerhart, Penelope J. Gerhart, and Chaspen Corporation. The bank was seeking a money judgment, the foreclosure of a real estate mortgage, and the appointment of a receiver. The same day Elwood Norstrud was appointed receiver by an ex...

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