Opinion ID: 2193938
Heading Depth: 1
Heading Rank: 5

Heading: Judgments Against Both Ralph and Florence.

Text: The trial court rendered judgment against Ralph and Florence on two notes. One note, dated January 23, 1969, was in the original amount of $30,000. This instrument, executed prior to the effective date of the ICCC, is not subject to its terms. Ipalco Employees Credit Union v. Culver, 309 N.W.2d 484 (Iowa, 1981). We affirm the judgment on that note. The other judgment against both Mannings jointly was based on a note in the amount of $69,000, dated May 24, 1976. It was secured by a mortgage on the seventy-nine-acre tract owned by Ralph and Florence as tenants in common. Both because the loan was for more than $35,000 and because it was secured by an interest in real estate, this obligation was not subject to ICCC provisions. § 537.1301(15)(a)(5). Judgment on this note was entered for $86,726.03, and the mortgage securing it was established as a first lien on the property pledged as security. That judgment is also affirmed.