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FIRSTAR BANK AMES v. POSTON

No. 94-1636.

551 N.W.2d 340 (1996)

FIRSTAR BANK AMES, Plaintiff-Appellee, v. Perry POSTON, Jr., Jayne Poston, Charles P. Andrea and Marie S. Andrea, Defendants-Appellees, Jill Schwartz and Schwartz's Systems Corporation, Receivers-Appellants.

Court of Appeals of Iowa.

May 31, 1996.

Attorney(s) appearing for the Case

Louis R. Hockenberg and Jill Mataya Corry of Sullivan & Ward, P.C., Des Moines, for appellant.

Glen C. Sedgwick, Ames, for appellees Poston and Andrea.

Deborah Krauth of Newbrough, Johnston, Brewer, Maddux & Nadler, Ames, for appellee Firstar Bank Ames.

Considered by HABHAB, P.J., and Cady and HUITINK, JJ.

CADY, Judge.

The receiver in a mortgage foreclosure proceeding appeals a district court's order requiring her to reimburse fees received in excess of $1,500 a month and voiding a contract she entered into with a professional management company. Our review of this equitable proceeding is de novo. Iowa R.App. P. 4. We affirm.

I. Factual Background

On March 29, 1994, Firstar Bank Ames ("Firstar") filed a petition to foreclose a mortgage executed...

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