FH Partners sues over Caseyville land deal

Kelly Holleran May 25, 2010, 11:31am

FH Partners filed a lawsuit May 10 in St. Clair County Circuit Court against Caseyville Sport Choice, Ferris Engineering, Strategic Development, Praxis Development, Burns McDonnell Engineering Company, Drury Displays doing business as DDI Media and other unknown tenants.

FH claims Caseyville Sport Choice executed a mortgage for $350,000 on Jan. 6, 2005, from FH in St. Clair County.

However, the defendants failed to make payments on the lease and now owe $100,075 in principal, plus $8,707.26 in interest and $5,033.50 in late payments, according to the complaint. In addition, real estate taxes for 2009 remain unpaid, the suit states.

In addition to the money it says the defendants owe it, FH seeks a judgment of foreclosure and sale; a personal judgment for deficiency; an order granting possession; an order placing the mortgage in possession or granting a receiver; a judgment for attorneys' fees, costs and expenses; and a judgment terminating any and all leases on the property.

In addition, it seeks other relief the court deems just, a sale by public auction, a sale by open bid, a provision that a St. Clair County Circuit Court judge conduct the sale and, in the event that FH is the successful bidder at the sale, it should be allowed to offset the purchase price to be paid for the amounts it owes under the judgment of foreclosure.

Jeff R. Wagener and Randall F. Scherck of Lathrop and Gage in Clayton will be representing it.

St. Clair County Circuit Court case number: 10-L-235.

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