By PETER HUSSMANN
Attorneys for Great Souther Bank made good on their notice of intent to file for a summary judgment in their foreclosure action against the owners of the now-closed Prairie Gas convenience store.
On Monday, Great Southern filed a motion for default judgment and summary judgment against Douglas & Jones Development in the foreclosure action initiated in January.
The Jasper County District Court filing by Great Southern states there are "no issues of material fact" to deny the court's allowance of its motion, further noting "none of the defendants have filed any type of answer, appearance or written special appearance" in the case.
Great Southern filed the foreclosure action claiming Douglas and Jones Development, and its principal, Dave Fisher, have failed to make payments on loans secured by the property at 4300 S. 22nd Ave. E. and currently owe the bank $779,635.41. The action also calls for the inclusion of attorney fees in the judgment.
The Newton Development Corporation is also named as a defendant in the action due to an interest it has in the real estate. Great Southern argues the NDC's interest is "junior and inferior" to the lien of the lenders.
Great Southern filed the action as successor-in-interest to both Vantus Bank and First Federal Bank. Vantus Bank of Sioux City, with a branch in Newton, was closed last September by the Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. The FDIC entered into a purchase and assumption agreement with Great Southern Bank of Springfield, Mo., to assume all of the deposits of Vantus Bank.
Recent Comments