American Heritage Bank v. Brandon Leonard

IN THE DISTRICT COURT OF OSAGE COUNTY STATE OF OKLAHOMA AMERICAN HERITAGE BANK ) Plaintiff, vs. ) BRANDON LEONARD, ) Defendant. ) Case No. CJ-20-31 PETITION Comes now the Plaintiff, AMERICAN HERITAGE BANK, and for its cause of action against the Defendant, Brandon Leonard, alleges and states as follows, to-wit: 1. That said Plaintiff is an Oklahoma Corporation with its principal place of business in Creek County, Oklahoma. That the Defendant, Brandon Leonard, is a resident of Tulsa County, Oklahoma, and this Court has jurisdiction and venue of the case at bar. 2. On January 17, 2018, the said Defendant, Brandon Leonard, made, executed and delivered to AMERICAN HERITAGE BANK a certain promissory note in the principal sum of $108,160.00 payable in the manner, with interest and on the terms and conditions set forth in said note, a true and correct copy of which note is hereto attached marked Exhibit "A", incorporated herein and made a part hereof. 3. At the same time, and as part and parcel of the same transaction, and for the purpose of securing payment of the said promissory note, the said Defendant, Brandon Leonard, made executed and delivered to the said AMERICAN HERITAGE BANK a mortgage covering the following described real estate in Osage County, Oklahoma, to-wit: A tract of land located in the NW/4 of Section 23, Township 20 North, Range 10 East of the Indian Base and Meridian, Osage County, Oklahoma, according to the US Government Survey thereof, being more particularly described as follows, to-wit: Beginning at the SW/corner of said NW/4; thence S89°54'34"E along the South line of said NW/4 a distance of 510.00 feet to a point; thence N00°09'30"W and parallel with the West line of said NW/4 a distance of 554.69 feet to a point on the Centerline of Prue Road, said point also being a point on a non-tangential curve; thence Southwesterly on a curve to the right having a forward tangent direction of S57°48'02"W, a central angle of 08°05'32", and a radius of 954.93 feet for a distance of 134.87 feet, said curve also have a cord direction of S61°50'48"W and a chord distance of 134.76 feet; thence S65°53'34"W continuing along said centerline a distance of 427.84 feet to a point on the West line of said NW/4; thence S00°09'30"E along the West line of said NW/4 a distance of 315.55 feet to the point of beginning. which mortgage is dated January 17, 2018, and was duly recorded in Book 1674 at Page 113 in the County Clerk of Osage County, Oklahoma, after the required mortgage tax had been paid thereon, and said mortgage is incorporated herein by reference and made a part hereof as though fully set forth at length herein. 4. Plaintiff is the owner and holder of said note and mortgage and that default has been made in the conditions thereof in that said Defendant has failed and refused to pay said note as provided therein and is in default thereon. 5. That by reason of such default, Plaintiff has elected to declare the entire balance of said note due and payable and Plaintiff is entitled to judgment against said Defendant, Brandon Leonard, for the balance due on said note which is the sum of $106,682.56, together with interest accrued of $1,804.57, and interest at the rate of $14.32 per diem, from and after February 18, 2020 until paid and an attorney's fee of $1,500.00 as provided in said note, and for foreclosure of said mortgage and the sale of said property with appraisement, said mortgage provided that appraisement of said premises may be waived or not waived at the option of the mortgagee to be declared when the petition to foreclose is filed. 6. In accordance with the Fair Debt Collection Practices Act, Title 15 U.S.C.A. § 1692(g), if applicable, unless the person or entity responsible for the payment of the above debt, within thirty days after receipt of this notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid; and if said person or entity notifies the undersigned attorney for Plaintiff in writing within said thirty day period that the debt, or any portion thereof, is disputed, said attorney will obtain verification of the debt and a copy of such verification will be mailed to said person or entity by the undersigned attorney for Plaintiff; and upon written request by you within the thirty day period, the undersigned attorney for Plaintiff will provide the name and address of the original creditor, if different from the current creditor. WHEREFORE, premises considered, Plaintiff, AMERICAN HERITAGE BANK, prays this Honorable Court grant judgment against the Defendant, Brandon Leonard , for the principal sum of $106,682.56, together with interest, accrued interest and late charges thereon at the rate described above and for an attorney's fee as set out above, and for Plaintiff's court costs in this action; and Plaintiff further prays for judgment that its mortgage lien upon the property described above be foreclosed with appraisement, and if its judgment against said Defendant, Brandon Leonard , be not paid, that an order of sale issue commanding the Sheriff of Osage County, Oklahoma, to appraise, advertise and sell upon execution as provided by law the above described real property; and Plaintiff prays for such other and further relief as the Court may deem just and proper. LOEFFLER, ALLEN & HAM By ________________________________ Sam T. Allen, IV (O.B.A. #232) P. O. Box 230; Sapulpa, Ok 74067 PHONE: 918-224-5302 Attorney for Plaintiff NOTE Loan Number: 15672121 OKLAHOMA JANUARY 17, 2018 SAPULPA [Date] [City] 23-20-10 Prue Rd, Sand Springs, Oklahoma 74063 [State] [Property Address] 1. BORROWER'S PROMISE TO PAY In return for a loan that I have received, I promise to pay U.S. $ 108,160.00 (this amount is called "Principal"), plus interest, to the order of the Lender. The Lender is AMERICAN HERITAGE BANK, A STATE BANK. I will make all payments under this Note in the form of cash, check or money order. I understand that the Lender may transfer this Note. The Lender or anyone who takes this Note by transfer and who is entitled to receive payments under this Note is called the "Note Holder." 2. INTEREST Interest will be charged on unpaid principal until the full amount of Principal has been paid. I will pay interest at a yearly rate of 4.900%. The interest rate required by this Section 2 is the rate I will pay both before and after any default described in Section 6(B) of this Note. 3. PAYMENTS (A) Time and Place of Payments I will make my monthly payment on the 16th day of each month beginning on FEBRUARY 16, 2018. I will make these payments every month until I have paid all of the principal and interest and any other charges described below that I may owe under this Note. Each monthly payment will be applied as of its scheduled due date and will be applied to interest before Principal. If, on JANUARY 16, 2019, I still owe amounts under this Note, I will pay those amounts in full on that date, which is called the "Maturity Date." I will make my monthly payments at PO BOX 1408, SAPULPA, OKLAHOMA 74067 or at a different place if required by the Note Holder. (B) Amount of Monthly Payments** See Attached Construction Addendum To Note My monthly payment will be in the amount of U.S. $ 4. BORROWER'S RIGHT TO PREPAY I have the right to make payments of Principal at any time before they are due. A payment of Principal only is known as a "Prepayment." When I make a Prepayment, I will tell the Note Holder in writing that I am doing so. I may not designate a payment as a Prepayment if I have not made all the monthly payments due under the Note. I may make a full Prepayment or partial Prepayments without paying a Prepayment charge. The Note Holder will use my Prepayments to reduce the amount of Principal that I owe under this Note. However, the Note Holder may apply my Prepayment to the accrued and unpaid interest on the Prepayment amount, before applying my Prepayment to reduce the Principal amount of the Note. If I make a partial Prepayment, there will be no changes in the due date or in the amount of my monthly payment unless the Note Holder agrees in writing to those changes. 5. LOAN CHARGES If a law, which applies to this loan and which sets maximum loan charges, is finally interpreted so that the interest or other loan charges collected or to be collected in connection with this loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from me which exceeded permitted limits will be refunded to me. The Note Holder may choose to make this refund by reducing the Principal I owe under this Note or by making a direct payment to me. If a refund reduces Principal, the reduction will be treated as a partial Prepayment. 6. BORROWER'S FAILURE TO PAY AS REQUIRED (A) Late Charge for Overdue Payments If the Note Holder has not received the full amount of any monthly payment by the end of calendar days after the date it is due, I will pay a late charge to the Note Holder. The amount of the charge will be .000 % of my overdue payment of principal and interest. I will pay this late charge promptly but only once on each late payment. (B) Default If I do not pay the full amount of each monthly payment on the date it is due, I will be in default. (C) Notice of Default If I am in default, the Note Holder may send me a written notice telling me that if I do not pay the overdue amount by a certain date, the Note Holder may require me to pay immediately the full amount of Principal which has not been paid and all the interest that I owe on that amount. That date must be at least 30 days after the date on which the notice is mailed to me or delivered by other means. (D) No Waiver By Note Holder Even if, at a time when I am in default, the Note Holder does not require me to pay immediately in full as described above, the Note Holder will still have the right to do so if I am in default at a later time. (E) Payment of Note Holder's Costs and Expenses If the Note Holder has required me to pay immediately in full as described above, the Note Holder will have the right to be paid back by me for all of its costs and expenses in enforcing this Note to the extent not prohibited by applicable law. Those expenses include, for example, reasonable attorneys' fees. 7. GIVING OF NOTICES Unless applicable law requires a different method, any notice that must be given to me under this Note will be given by delivering it or by mailing it by first class mail to me at the Property Address above or at a different address if I give the Note Holder a notice of my different address. Any notice that must be given to the Note Holder under this Note will be given by delivering it or by mailing it by first class mail to the Note Holder at the address stated in Section 3(A) above or at a different address if I am given a notice of that different address. 8. OBLIGATIONS OF PERSONS UNDER THIS NOTE If more than one person signs this Note, each person is fully and personally obligated to keep all of the promises made in this Note, including the promise to pay the full amount owed. Any person who is a guarantor, surety or endorser of this Note is also obligated to do these things. Any person who takes over these obligations, including the obligations of a guarantor, surety or endorser of this Note, is also obligated to keep all of the promises made in this Note. The Note Holder may enforce its rights under this Note against each person individually or against all of us together. This means that any one of us may be required to pay all of the amounts owed under this Note. 9. WAIVERS I and any other person who has obligations under this Note waive the rights of Presentment and Notice of Dishonor. "Presentment" means the right to require the Note Holder to demand payment of amounts due. "Notice of Dishonor" means the right to require the Note Holder to give notice to other persons that amounts due have not been paid. 10. UNIFORM SECURED NOTE This Note is a uniform instrument with limited variations in some jurisdictions. In addition to the protections given to the Note Holder under this Note, a Mortgage, Deed of Trust, or Security Deed (the "Security Instrument"), dated the same date as this Note, protects the Note Holder from possible losses which might result if I do not keep the promises which I make in this Note. That Security Instrument describes how and under what conditions I may be required to make immediate payment in full of all amounts I owe under this Note. Some of those conditions are described as follows: If all or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a natural person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, Lender may require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. WITNESS THE HAND(S) AND SEAL(S) OF THE UNDERSIGNED. Brandon Leonard (Seal) ________________________________ (Seal) -Borrower -Borrower (Seal) ________________________________ (Seal) -Borrower -Borrower ________________________________ (Seal) ________________________________ (Seal) -Borrower -Borrower Loan Originator: Tim Watts; NMLSR ID 727977 Loan Originator Organization: American Heritage Bank, NMLSR ID 458063 [Sign Original Only]