First National Bank in Staunton filed suit against O'Bryan Consulting and Glen and Cecelia O'Bryan alleging they failed to re-pay two promissory notes.
According to the complaint filed Nov. 9 in Madison County Circuit Court, the O'Bryans executed a promissory note on May 9, 2005, for $528,378.61 and on Nov. 1, 2006 for $300,000.
The bank alleges the O'Bryans defaulted in payments causing the bank to exercise its option to declare all principal and accrued interest that remained unpaid due and payable immediately.
"Plaintiff has made demand on guarantors for payment pursuant to such guaranty and they have failed to pay any part of the amount due," the complaint states.
The bank is seeking a judgment against the O'Bryans for $711,381.38, plus pre-judgment interest, reasonable attorney fees and costs of the suit.
First National Bank is represented by David Antognoli of Goldenberg, Heller, Antognoli, Rowland, Short and Gori in Edwardsville.
The case has been assigned to Circuit Judge Andy Matoesian.
07 L 964