IN THE DISTRICT COURT IN AND FOR OKLAHOMA COUNTY
STATE OF OKLAHOMA
AMERICAN BUILDERS & CONTRACTORS )
SUPPLY COMPANY, INC. d/b/a )
ABC SUPPLY COMPANY, )
Plaintiff, )
v. )
RAIN DRAIN SOLUTIONS LLC )
and ALEX VELASCO, )
Defendants. )
PETITION
Plaintiff American Builders & Contractors Supply Company, Inc. d/b/a ABC Supply Company ("ABC"), for its Petition against the above-referenced Defendants, states:
1. ABC is a Delaware corporation domesticated to do business in Oklahoma.
2. Defendant Rain Drain Solutions LLC ("Rain Drain") is an inactive Oklahoma limited liability company headquartered in Oklahoma County, Oklahoma.
3. Defendant Alex Velasco ("Velasco") is an individual who, upon information and belief, resides in Oklahoma County, Oklahoma.
4. The promissory note and guaranty which are the subject of this lawsuit were executed in Oklahoma County, Oklahoma; accordingly, venue is proper in Oklahoma County.
5. This Court has jurisdiction over this subject matter and the parties hereto.
First Cause of Action – Default Under Promissory Note
(against Rain Drain)
For its first cause of action, ABC incorporates paragraphs 1 – 5 herein by reference and further states:
6. On August 20, 2025, Rain Drain executed and delivered to ABC a Promissory Note in the amount of $301,929.33 (the “Note”).
7. A true and correct copy of the Note is attached hereto as Exhibit A.
8. Rain Drain has defaulted under the terms of Note.
9. As a result of such default, ABC is entitled to recover all amounts due and owing under the Note, including the principal amount of $326,492.18 due as of February 5, 2026, prejudgment and post-judgment interest at the default rate of 14.00% per annum, and attorney’s fees and costs.
Second Cause of Action – Breach of Guaranty
(against Velasco)
For its second cause of action, ABC incorporates paragraphs 1 – 9 herein by reference and further states:
10. Velasco executed a Guaranty in favor of ABC on August 29, 2025 (the “Guaranty”) whereby he personally guarantied Rain Drain’s indebtedness under the Note; a true and correct copy of the Guaranty is attached hereto as Exhibit B.
11. Because Rain Drain is in default under the Note, Velasco, by way of the Guaranty, is personally liable to ABC, jointly and severally with Rain Drain.
12. Because Velasco is in breach of the Guaranty, ABC is entitled to recover from Velasco all amounts due and owing under the Note, including the principal amount of $326,492.18 due as of February 5, 2026, prejudgment and post-judgment interest at the default rate of 14.00% per annum, attorney’s fees and costs.
WHEREFORE, Plaintiff American Builders & Contractors Supply Co., Inc. d/b/a ABC Supply Company requests that judgment be entered in its favor against Defendants Rain Drain Solutions LLC and Alex Velasco, jointly and severally, in the principal amount of $326,492.18 (as
of February 5, 2026), plus attorney's fees, costs and interest accrued and accruing at the default rate of 14.00% per annum.
Respectfully submitted,
By: ____________________________
Tracy W. Robinsett, OBA No. 13114
Daniel W. Bryce, OBA No. 35564
ROBINNETT, SWARTZ & DUREN
Mid-Continent Tower
401 S. Boston Ave., Suite 1600
Tulsa, Oklahoma 74103
(918) 592-3699
Attorneys for Plaintiff American Builders & Contractors Supply Co., Inc.
d/b/a ABC Supply Company
PROMISSORY NOTE
Date: August 20, 2025 Amount $301,929.33
Rain Drain Solutions LLC, an Oklahoma limited liability company, (the “Maker”), for value received, hereby promises to pay to American Builders & Contractors Supply Co., Inc., d/b/a ABC Supply Co., Inc., or its assigns (the “Holder”) the principal balance of Three Hundred One Thousand Nine Hundred Twenty Nine and 33/100 Dollars ($301,929.33), together with interest as provided for herein, at the times specified herein. The outstanding principal amount of this Note shall bear interest (calculated on the basis of a 365-day year) from the date hereof until the date at a per annum rate of Fourteen Percent (14%).
1. Payment of Principal and Interest. The principal of, and interest on, this Note shall be payable in Eighteen (18) equal monthly payments listed on the Amortization Schedule attached hereto, commencing on September 28, 2025, and on the 28th day of each month thereafter until February 28, 2027, which shall be the due date when the entire remaining principal and Interest thereon shall be due and payable in full. This Note shall be payable at the offices of the Holder or to such other address as the Holder may notify the Maker in writing in lawful currency of the United States of America as at the time of payment is legal tender for payment of public and private debts.
2. Events of Default. Should any of the following events occur and remain uncured for fifteen (15) days after written notice by Holder to the Maker (such an uncured event being referred to herein as an “Event of Default”), the Maker shall be in default hereunder:
a. If a payment of principal, or interest accrued on, this Note is not paid when the same becomes due; or
b. If a payment for future advances or extension of credit by the Holder to the Maker are not paid when the same become due; or
c. If the Maker shall voluntarily suspend the transaction of its business or if the Maker shall make a general assignment for the benefit of creditors; or if the Maker shall be adjudicated a bankrupt, or shall file a voluntary petition in bankruptcy or for a reorganization or to effect a plan or other arrangement with its creditors, or if the Maker shall file an answer to a creditor’s petition or other petition against it (admitting the material allegations thereof) for an adjudication in bankruptcy or for a reorganization or if the Maker shall apply for or permit the appointment of a receiver, trustee, or custodian for any substantial portion of its properties or assets; or if bankruptcy, reorganization or liquidation proceedings are instituted against it and remain un-dismissed for 60 days.
3. Acceleration of Indebtedness.
a. Upon the occurrence of an Event of Default, the entire unpaid principal amount, together with any interest accrued thereon, of the Note shall be due and payable in full at the option of the Holder.
b. The Maker and each surety, guarantor, endorser, and other party ever liable for payment of any sums of money payable on this Note, jointly and severally expressly waive all notices, demands for payment, presentations for payment, notices of intention to accelerate maturity, protest and notice of protest, and any other notices of any kind as to this Note and as to each, every, and all installments or partial payments thereof, and consents that the payee or other Holder of this Note may at any time and from time to time, upon request of or by agreement with the Maker, extend the date of maturity hereof or change
the time or method of payments hereof without any notice to any of the other makers, sureties, or endorsers, who shall remain bound for the payment hereof. The Holder shall have the right to deal in any way, at any time, with one or more of the foregoing parties without notice to any other party, and to grant any party and extensions of time for payment of any said indebtedness, or to grant any other indulgences or forbearances whatsoever, without notice to any other party and without in any way affecting the personal liability of any party hereunder.
4. Collection Fees. If an Event of Default occurs and this Note is placed in the hands of an attorney for collection (whether or not suit is filed), or if this Note is collected by suit or legal proceedings or through bankruptcy proceedings, the Maker agrees to pay in addition to all sums then due hereon, including principal and interest, all reasonable expenses of collection including reasonable attorneys’ fees and costs.
5. Amendments and Waivers. This Note may be amended by written agreement of the Maker and the Holder. No waiver of the provisions hereof shall be effective unless agreed to in writing by the party against whom such waiver is asserted.
6. Notice. All notices to the Maker required or permitted by this Note shall be sufficient if given in writing and executed by the Holder of this Note. All such notices of the Maker shall be delivered by registered or certified mail, return receipt requested, or personally delivered, to the Maker at its principal place of business on the date of the execution of this Note, or such other address as the Maker may designate by written notice to the Holder of this Note.
7. Governing Law. This Note shall be deemed to be a contract made under the laws of the State of Oklahoma, and for all purposes shall be governed by and construed in accordance with the laws of the State of Oklahoma.
8. Binding Effect. This Note and all the covenants, promises, and agreements contained herein shall be binding upon and inure to the benefit of the respective legal and personal representatives, devisees, heirs, successors, and assigns of Maker and Holder hereof.
9. Guaranty. This Note and all future advances from Holder to Maker are guarantees by a personal guaranty provided by Alex Velasco ("Guarantors"), which is attached hereto and is incorporated herein by reference.
THIS WRITTEN AGREEMENT REPRESENTS THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN THE PARTIES.
IN WITNESS WHEREOF, the Maker has caused this Note to be duly executed as of the ___ day of August 2025.
MAKER:
RAIN DRAIN SOLUTIONS LLC
By: ____________________________, Owner
Print Name Title
HOLDER:
AMERICAN BUILDERS & CONTRACTORS SUPPLY CO., INC.
By: ________________________________
Print Name Title
GUARANTY AGREEMENT
THIS AGREEMENT is made by and between Alex Velasco, (whether one or more herein called "Guarantor"), for the benefit of American Builders & Contractors Supply Co., Inc., d/b/a ABC Supply Co., Inc., (herein, with its successors and assigns, called "Holder").
For good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, and to induce Holder to extend credit to Rain Drain Solutions LLC (the "Maker"), and in which Guarantor has a financial interest, Guarantor hereby guarantees and agrees as follows:
Guarantor hereby absolutely, unconditionally and jointly and severally guarantees to Holder the full and prompt payment of all amounts due and payable under that certain promissory note between the Maker and the Holder entitled "Promissory Note" with a principal amount of Three Hundred One Thousand Nine Hundred Twenty Nine and 33/100 Dollars ($301,929.33) payable to Holder on or before February 28, 2027 (referred to as the "Indebtedness"); and Guarantor represents, warrants, and agrees that:
1. This is an absolute, unconditional and continuing guaranty of payment of the Indebtedness and shall continue to be in force and be binding upon Guarantor until all Indebtedness is paid in full. Any adjudication of bankruptcy or death or disability or incapacity of Guarantor shall not revoke this Guaranty.
2. If any payment received and applied by Holder to Indebtedness is thereafter set aside, recovered or required to be returned for any reason (including, without limitation, the bankruptcy, insolvency or reorganization of the Maker), the Indebtedness to which such payment was applied shall, for the purposes of this Guaranty, be deemed to have continued in existence, notwithstanding such application, and this Guaranty shall be enforceable as to such Indebtedness as fully as if such application had not been made.
3. The liability of Guarantor shall not be affected or impaired by any of the following acts or things (which Holder is expressly authorized to do, omit or suffer from time to time without consent or approval by or notice to Guarantor):
a.) any acceptance of collateral security, Guarantor, accommodation parties or sureties for any or all Indebtedness;
b.) one or more extensions or renewals of Indebtedness (whether or not for longer than the original period) or any modification of the interest rates, maturities or other contractual terms applicable to any Indebtedness;
c.) any waiver or indulgence granted to the Maker, any delay or lack of diligence in the enforcement of Indebtedness, or any failure to institute proceedings, file a claim, give any required notices or otherwise protect any Indebtedness;
d.) any full or partial release of, compromise or settlement with, or agreement not to sue the Maker or any other guarantor or other person liable in respect of any Indebtedness;
e.) any release, surrender, cancellation or other discharge of any evidence of Indebtedness or the acceptance of any instrument in renewal or substitution therefor;
f.) any failure to obtain collateral security (including rights of set off) for Indebtedness, or to see to the proper or sufficient creation and perfection thereof, or to establish the priority thereof, or to preserve, protect, insure, care for, exercise or enforce any collateral security; or any modification, alteration, substitution, exchange, surrender, cancellation, termination, release or other change, impairment, limitation, loss or discharge of any collateral security;
g.) any collection, sale, lease or other disposition of, or any other foreclosure or enforcement of or
realization on, any collateral security;
h.) any assignment, pledge or other transfer of any Indebtedness or any evidence thereof; and
i.) any manner, order or method of application of any payments or credits upon Indebtedness.
4. Guarantor expressly agrees that Guarantor shall be and remain liable for any deficiency remaining after foreclosure of any mortgage or security interest securing Indebtedness, whether or not the liability of the Maker or any other obligor for such deficiency is discharged pursuant to statute or judicial decision. The liability of Guarantor shall not be affected or impaired by any voluntary or involuntary liquidation, dissolution, sale or other disposition of all or substantially all the assets, marshaling of assets and liabilities, receivership, insolvency, bankruptcy, assignment for the benefit of creditors, reorganization, arrangement, composition or readjustment of, or other similar event or proceeding affecting the Maker or any of its assets.
5. Guarantor waives presentment, demand for payment, notice of dishonor or nonpayment, and protest of any instrument evidencing Indebtedness. Holder shall not be required first to resort for payment of the Indebtedness to the Maker or other persons, or their properties, or first to enforce, realize upon or exhaust any collateral security for Indebtedness, before enforcing this Guaranty.
6. Guarantor will pay or reimburse Holder for all costs and expenses (including reasonable attorneys’ fees and legal expenses) incurred by Holder in connection with the collection of any Indebtedness or the enforcement of this Guaranty.
7. This Guaranty shall be binding upon Guarantor, and the heirs, successors and assigns of Guarantor and shall inure to the benefit of Holder and its successors and assigns.
8. This Agreement shall be governed by and construed in accordance with the domestic laws of the State of Oklahoma without giving effect to any choice or conflict of law provision or rule (whether of the State of Oklahoma or any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Oklahoma.
9. If any provision or application of this Guaranty is held unlawful or unenforceable in any respect, such illegality or unenforceability shall not affect other provisions or applications which can be given effect, and this Guaranty shall be construed as if the unlawful or unenforceable provision or application had never been contained herein or prescribed hereby. All representations and warranties contained in this Guaranty or in any other agreement between Guarantor and Holder shall survive the execution, delivery and performance of this Guaranty and the creation and payment of the Indebtedness.
10. This Guaranty may not be waived, modified, invalidated, terminated or released or otherwise changed except by a writing signed by Holder.
11. The Guarantor represents and warrants to the Holder that if the Guarantor is a Corporation or Limited Liability Company (a) the Guarantor is a Corporation or Limited Liability Company that it is duly organized and existing and has full power and authority to make and deliver this Guaranty; (b) the execution, delivery and performance of this Guaranty by the Guarantor have been duly authorized by all necessary action of its directors, officers, managers, governors, shareholders, and members do not and will not violate the provisions of, or constitute a default under, any presently applicable law or its shareholder or member agreement or any agreement presently binding on it; (c) this Guaranty has been duly executed and delivered by an officer, manager, director or governor of the Guarantor and constitutes its lawful,
binding and legally enforceable obligation; and (d) the authorization, execution, delivery and performance of this Guaranty do not require notification to, registration with, or consent or approval by, any federal, state or local regulatory body or administrative agency.
IN WITNESS WHEREOF, this Guaranty Agreement has been duly executed and delivered by Guarantor as indicated below:
GUARANTOR(S):
By: ____________________________
Alex Velasco
WITNESS:
VERIFICATION AND ACKNOWLEDGEMENT
State of Oklahoma )
) ss.
County of Oklahoma
On this 29 day of August, 2025 before me, a Notary Public within and for said county and state, personally appeared Alex Velasco ____________________________, the ________________________ to me personally known and being duly sworn did state and verify that __________________________ read and understood the above documents and that the facts and statements in this instrument are true and correct to the best of Alex Velasco's knowledge and belief, and that ___________________ executed the same as __________________'s free act and deed.
Subscribed and sworn to before me
this 29 day of Aug., 2025
______________________________
Notary Public
By: ____________________________
CYNTHIA GUTIERREZ
Notary Public - State of Oklahoma
Commission Number 21012283
My Commission Expires Sep 17, 2025
