In recently filed court documents, a bank claims it has not received more than $100,000 in payments owed to it.
Peoples National Bank filed a lawsuit Oct. 19 in St. Clair County Circuit Court against 3207 Washington and Mark B. Bradley.
In its complaint, Peoples alleges it lent $505,000 to 3207 Washington on Aug. 15, 2003. Since the loan, however, 3207 Washington has failed to make payments, according to the complaint.
"As of October 12, 2011, after application of all payments and credits, there was due and owing to Bank on the 3207 Note the principal sum of $56,769.50, accrued interest in the amount of $1,334.52 and late charges of $29,305.45," the suit states.
It also names Bradley as a defendant, saying he signed on to the note as a guarantor, promising to repay the money 3207 Washington took out. However, he has also failed to make payments, the complaint says.
In addition, the bank names Bradley as a defendant because it says it lent him $105,240 on April 3, 2008. He has also failed to make payments on this note.
"As of September 12, 2011, there was due and owing to Bank on the Bradley Note the principal sum of $90,476.84, accrued interest in the amount of $9,182.15, and late charges of $5,175.73," the suit states.
In addition to the money it says it is owed, Peoples seeks attorney's fees, costs, post-judgment interest and other relief the court deems just.
Jeffrey S. Heuer and Matthew Gartner of Husch Blackwell in Clayton will be representing it.
St. Clair County Circuit Court case number: 11-L-591.