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JENSEN v. TURNBRIDGE LTD. PARTNERSHIP

No. 92-515.

505 N.W.2d 500 (1993)

Roger P. JENSEN, As Successor Trustee to McIntosh & Co., Inc., and First National Bank of Council Bluffs, under a Trust Agreement dated January 15, 1988, By and Between First National Bank of Council Bluffs and Turnbridge Limited Partnership, an Iowa Limited Partnership, Appellee, v. TURNBRIDGE LIMITED PARTNERSHIP, An Iowa Limited Partnership, et al., Defendants, and Wesley M. Grady and Betty J. Grady, Appellants.

Court of Appeals of Iowa.

June 29, 1993.

Attorney(s) appearing for the Case

Bruce D. Fleming of Pogge, Root, Fleming & Tinley, Council Bluffs, for appellants.

Steven H. Krohn of Smith, Peterson, Beckman & Willson, Council Bluffs, for appellee.

Considered by SCHLEGEL, P.J., and HAYDEN and HABHAB, JJ.

HAYDEN, Judge.

Wesley and Betty Grady appeal a district court decision granting summary judgment to Roger Jensen. This foreclosure action involves a portion of a condominium development which is subject to mortgages held by both parties. We reverse and remand.

Under a trust agreement executed in January 1988, First National Bank (FNB) was appointed trustee on behalf of certain holders of bonds issued by Turnbridge Limited Partnership (Turnbridge). As part...

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