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Midland Bank seeks balance plus costs on alleged unpaid promissory note

By Molly English-Bowers | Mar 8, 2016

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BELLEVILLE – An Illinois bank is suing over an alleged unpaid promissory note.

Midland States Bank, successor by a merger with Heartland Bank, filed the suit Feb. 12 in St. Clair County Circuit Court against Keith E. Beyersdorfer and Sally A. Beyersdorfer.

On Dec. 10, 2008, the suit alleges the defendants made and delivered a promissory note payable to Heartland in the original principal amount of $71,840 plus interest and other charges. The parties agreed to extend the terms of the note with agreements dated Dec. 1, 2009, Dec. 1, 2010, Sept. 1, 2011 and Sept. 1, 2012.

On March 31, 2015 the plaintiff merged with Heartland. As such, Midland is now the holder of the note, which matured on Sept. 1, 2015, according to the complaint. On Jan. 14, the plaintiff demanded payment of the note in full from the defendants, but they have either failed or refuse to pay, the suit alleges.

As of Jan. 13, the amount due was $57,140, according to the complaint. Interest continues to accrue at the rate of $11.64 per day. Further, according to the promissory note, the plaintiff claims it is entitled to collect all attorney fees and costs spent in collecting the balance due.

The plaintiff seeks a judgment in the amount of $55,873.92 in principal, $1,041.35 in interest, $225 in other charges, pre-judgment interest at $11.64 per day for each day after Jan. 13, attorney fees, court costs, post-judgment interest at the statutory rate and other relief the court deems just and proper. The plaintiff is represented by Cherie K. Macdonald of Greensfelder, Hemker & Gale PC in Swansea.

St. Clair County Circuit Court case number 16-L-99

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