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SOWERS v. FEDERAL DEPOSIT INS. CORP.

Civ. No. 88-293-B.

96 B.R. 897 (1989)

Richard W. SOWERS and Judith L. Sowers, Debtors and Plaintiffs-Appellants, v. FEDERAL DEPOSIT INSURANCE CORPORATION, Defendant-Appellee.

United States District Court, S.D. Iowa, C.D.

February 9, 1989.

Attorney(s) appearing for the Case

Robert L. Huffer, Story City, Iowa, for debtors and plaintiffs-appellants.

David Davitt, Des Moines, Iowa, for defendant-appellee.

MEMORANDUM AND DECISION ON APPEAL FROM BANKRUPTCY COURT

VIETOR, Chief Judge.

This is a bankruptcy appeal.

In 1978 the debtors, plaintiffs-appellants, purchased a house in Story City, Iowa. The Story County State Bank financed the purchase and the debtors executed and delivered to the bank a mortgage on the house to secure the loan. The mortgage contains the following "dragnet" clause:

This mortgage...

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