EDWARDSVILLE – Several sellers filed two separate complaints alleging default on a contract for properties in Granite City and Madison, Ill.
Dustin E. Massie and Carlana Massie filed suits on Nov. 21 and Nov. 22 in the Madison County Circuit Court against Marc Plank, Trustee of JMK Trust No. 10282113, and John Carlyle.
Michael Larocque and Teresa Larocgue are also plaintiffs in one of the suits against Plank and Carlyle.
The Massies and the Larocques each have undivided one-half interest in the Granite City property.
The plaintiffs allege the trust is for the benefit of Carlyle.
In regards to the Granite City property, the Massies allege they sold a property located at 1603 Cleveland Blvd. in Granite City on July 20, 2015 to the JMK Trust. The defendants allegedly agreed to make installment payments on the balance of $485,000 with a 3.5 percent interest. The defendants would ultimately make 120 monthly payments of $4,795.96 beginning on Aug. 20, 2015.
The buyer also agreed to pay $800 per month for the annual tax bill and insurance premium.
The Larocques allege they sold their interest in the same Granite City property for $242,500 with a 3.5 percent interest rate. They claim the defendants agreed to make 120 monthly payments of $2,397.98 beginning on Aug. 20, 2015.
However, all plaintiffs allege the defendants defaulted on the contracts by failing to pay all installment payments when due.
On June 30, the buyers were provided with notice of the sellers’ intent to declare all rights under the contract forfeited unless all defaults were cured. A second notice was sent on Nov. 2.
The Massies seek a judgment in their favor for the Granite City property for $55,967.70 in the aggregate for delinquent installment payments and accrued real estate taxes for 2016 as payment for the premises as of Oct. 31, 2016, plus costs, expenses and attorney’s fees.
The Larocques seek a sum of $36,516.01 as payment for the Granite City property as of Oct. 31, 2016, plus costs and attorney’s fees.
In regards to the Madison property, the Massies allege they sold several lots with the address 934 State Street in Madison to the defendants for $476,000 with a 3.5 percent interest rate. The defendants agreed to make 120 monthly payments of $4,706.97 beginning on Aug. 20, 2015. The defendants also agreed to pay a portion of the $21,280.64 tax bill until it adjusted to $1,773.39.
However, the Massies allege the defendants failed to make the appropriate payments, defaulting on the contract.
The plaintiffs seek $64,359.53 for delinquent installment payments and real estate taxes for the Madison property, plus costs and expenses.
The plaintiffs are represented by Timothy Hinrichs of Balsters & Hinrichs PC in Bethalto.
Madison County Circuit Court case number 16-L-1605 and 16-L-1603