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First National Bank of Izard County v. Evergreen Processing, LLC

United States District Court, E.D. Arkansas, Northern Division

August 8, 2017

FIRST NATIONAL BANK OF IZARD COUNTY PLAINTIFF
v.
EVERGREEN PROCESSING, LLC F/K/A B & H RESOURCES, LLC; NORTHSTAR FARMS, LLC; JOHN P. HARDY; CELTIC BANK; HELEN BARTMESS AND GIBSLAND BANK & TRUST CO. A/K/A GIBSLAND BANK & TRUST, N.A. DEFENDANTS CELTIC BANK THIRD-PARTY PLAINTIFF
v.
HAYNESVILLE SHALE RENTALS, LLC; ARK-LA-TEX LEASING, LLC; ENERGY RENTALS & LEASING, LLC; ELITE COIL TUBING SOLUTIONS, LLC; HARDY ENERGY SERVICES, INC. AND JAMES P. HARDY, JR. THIRD-PARTY DEFENDANTS GIBSLAND BANK & TRUST CO. A/K/A GIBSLAND BANK & TRUST, N.A. COUNTER-CLAIMANT
v.
FIRST NATIONAL BANK OF IZARD COUNTY COUNTER-DEFENDANT GIBSLAND BANK & TRUST CO. A/K/A GIBSLAND BANK & TRUST, N.A. CROSS-CLAIMANT
v.
JOHN P. HARDY, CELTIC BANK AND HELEN BARTMESS, INDIVIDUALLY, AND AS EXECUTRIX OF THE ESTATE OF GEORGE BARTMESS, DECEASED CROSS-DEFENDANTS GIBSLAND BANK & TRUST CO. A/K/A GIBSLAND BANK & TRUST, N.A. THIRD-PARTY PLAINTIFF
v.
NORTHSTAR FARMS, LLC THIRD-PARTY DEFENDANT CELTIC BANK PLAINTIFF
v.
HAYNESVILLE SHALE RENTALS, LLC; EVERGREEN PROCESSING, LLC; FIRST NATIONAL BANK OF IZARD COUNTY AND HELEN BARTMESS, INDIVIDUALLY, AND AS EXECUTRIX OF THE ESTATE OF GEORGE BARTMESS, DECEASED DEFENDANTS

          Robert D. Stroud, Attorney for First National Bank of Izard County.

          David A. Grace, Attorney for Gibsland Bank & Trust Co. a/k/a Gibsland Bank & Trust, N.A.

          DECREE OF FORECLOSURE AGAINST NORTHSTAR FARMS, LLC

          BETH DEERE, UNITED STATES MAGISTRATE JUDGE.

         On this date the above-styled matter comes on for consideration by the Court and Plaintiff First National Bank of Izard County (FNBIC) is present by its attorney, Robert D. Stroud; Defendant and Third Party Plaintiff Gibsland Bank & Trust Co. a/k/a Gibsland Bank & Trust, N.A. (Gibsland) is present by its attorney, David A. Grace; Defendant Northstar Farms, LLC, appears not. The Court being well and sufficiently advised in the law and the facts and after review of all pleadings and consideration of applicable law, concludes and finds:

         1. This Court has jurisdiction of the parties to and subject matter of this action.

         2. On September 26, 2016, an Order (Docket Entry #78) was entered granting Plaintiff FNBIC's motion for partial summary judgment against Northstar finding there are no genuine issues of material fact and that Plaintiff FNBIC is entitled to judgment as a matter of law.

         3. On or about August 7, 2009, Defendant Northstar Farms, LLC, executed and delivered to Plaintiff FNBIC its promissory note and security agreement in the original principal amount of $320, 230.65, payable with interest at the rate of 6.500% per annum, on demand, but if no demand is made on February 7, 2010, when the entire unpaid principal and interest would be due and payable.

         4. As security for the payment of the promissory note, Defendant Northstar Farms, LLC, executed and delivered to Plaintiff FNBIC its mortgage on the following described real property situated in Izard County, Arkansas:

All that part of the Southeast Quarter Northwest Quarter lying South of State Highway 56 in Section 10, Township 17 North, Range 10 West of the 5th P.M. of Izard County.
All that part of the Southwest Quarter Northeast Quarter lying South of State Highway 56 in Section 10, Township 17 North, Range 10 West of the 5th P.M. of Izard County.
Part of the Southeast Quarter Southwest Quarter lying East of an existing fence and part of the West Half of the Southeast Quarter lying East of an existing fence described as follows: Beginning at the Southwest corner of the Southeast Quarter Southeast Quarter; thence North 86 degrees 26 minutes 51 seconds West, 1075.96 feet to a point; thence North 37 degrees 39 minutes 07 seconds West, 833.75 feet to a point; thence North 49 degrees 10 minutes 10 seconds West, 1572.02 feet to a point; thence North 41 degrees 43 minutes 32 seconds West, 1263.74 feet in Section 10, Township 17 North, Range 10 West of the 5th P.M. of Izard County.
Part of the Southeast Quarter Northeast Quarter lying South of State Highway 56 in Section 10, Township 17 North, Range 10 West of the 5th P.M. of Izard County.
All the Northeast Quarter Southeast Quarter in Section 10, Township 17 North, Range 10 West of the 5th P.M. of Izard County.
All the Southeast Quarter Southeast Quarter in Section 10, Township 17 North, Range 10 West of the 5th P.M. ...

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