USA v. Davis et al

Filing 11

JUDGMENT in favor of USA against Fuller Seed & Supply, Cleveland Tyrone Davis in the total amount of $131,695.44 9 . The items set forth in this Judgment must be delivered to the U.S. Department of Agriculture, Farm Service Agency at a time and place designated by FSA. This equipment shall be sold and the proceeds shall be first paid to USDA, FSA. Any remaining proceeds shall be disbursed as provided by applicable provisions of the Arkansas Uniform Commercial Code. This Court retains jurisdiction until August 16, 2013, to make any orders necessary to effectuate the judgment. Signed by Judge D. P. Marshall Jr. on 2/12/13. (kpr)

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IN THE UNITED STATES DISTRICT COURT EASTERN DISTRICT OF ARKANSAS EASTERN DIVISION PLAINTIFF UNITED STATES OF AMERICA v. No. 2:11-cv-88-DPM CLEVELAND TYRONE DAVIS and FULLER SEED & SUPPLY DEFENDANTS JUDGMENT The United States of America has asked for judgment against Davis on an unpaid loan the Farm Service Administration and United States Department of Agriculture made to him. The Government has supplied an affidavit showing that Davis is not an infant or incompetent person and is not in the military service of the United States. Davis and his co-defendant Fuller Seed and Supply were properly served, have not answered, and are in default. The Court has jurisdiction over the parties and over the personal property involved. 1. In order to receive loan assistance from the Government, Davis, Defendant executed certain Promissory Notes, representing loans made, -1- renewed, rescheduled, or reamortized between 16 February 2000 and 8 June 2004. They are more particularly described as follows: OL-R-44- Date of Principal Amount Rate 17 July 2003 $179,691.35 3.25% Terms Interest Note Loan Type 15 annual installments in the amount of $15,326.00 beginning 1 09* January 2004. *Note: This Note was consolidated or rescheduled from the following Notes: No. 44-07 dated 21 May 2002 in the amount of $70,000.00; No. 44-08 dated 21 May 2002 in the amount of $129,155.29; No. 44-06 dated 8 June 2001 in the amount of $123,815.52; No. 44-01 dated 16 February 2000 in the amount of $38,000.00; No. 44-02 dated 16 February 2000 in the amount of $77,500.00; No. 44-03 dated 6 July 2000 in the amount of $8,400.00; and, No. 44-04 dated 6 July 2000 in the amount of $3,600.00. OL-R-44- 8 June 2004 $34,000.00 3.75% 10 7 annual installments in the amount of $5,535.00 beginning 31 December 2004. 2. The payments due on the above-described promissory notes are in default. The Government declared the entire unpaid balance due and payable. There is due and owing on the promissory notes of Cleveland Tyrone Davis payable to the United States of America, U.S. Department of Agriculture, Farm Service Agency, the total principal sum of $119,744.76, -2- plus interest in the sum of $2,178.96, accrued to 30 November 2012, and thereafter at the daily rate of $10.6736 to date of this judgment. Going forward this judgment will bear interest at the statutory rate pursuant to 28 U.S.C. § 1961, plus any additional advances and recoverable charges made during the pendency of this action for protection and maintenance of the subject property, and the costs of this action. A total balance of $131,695.44 is due as of 30 November 2012. 3. The debt due and owing to the Government is secured by the Security Agreement dated 8 June 2004, executed by Davis. The Agreement was properly perfected by filing a UCC Financing Statement on 16 February 2000 as Instrument No. 2000-172, continued on 11 February 2005, with the Circuit Clerk of Phillips County, and continued on 9 February 2010 as Document No. 314077003, in the Office of the Secretary of State for the State of Arkansas. By execution of the Security Agreement, Davis granted and conveyed a first priority security interest in all farm equipment and farm machinery, then owned or thereafter acquired, and all replacements, substitutions and additions, including, but not limited to, the following: -3- Quantity Kind Manufacturer Size/Type Cond. Year 1 Power Unit w/Trailer and PO John Deere 4039 Good T04039D370440 1 Power Unit wf Trailer John Deere 405 Good 40405D7645546 1 Field Cultivator Triple K 0102 Good 403089 1 Tractor John Deere 8300 Good RW8300P003840 1 Land Plane Fair Oaks 16' X 50' Good A-1996-1 1 Bob Truck Chevrolet C60 Tandem Poor 1 Water Wagon wfmotor and Pump 1 Quick Hitch John Deere 001353 Good 1 Blade Rhino Hydraulic Good 00353 1 Combine John Deere 620 Poor 357991 1 Disc Int'l. Harvester 490- 28' Fair 947000U009053 1 Ditcher AMCO PTO Poor 1 Header John Deere Flex 20' Poor 1 Header John Deere922-22' Good 1 Spray Boom 1 Chisel Plow 1 1973 Serial No. CCE613V132429 1,000 Gallon 493783 H00922c656399 8-Row Poor Graham 17- Tine Poor 8519 Header John Deere 925-25' Good H00925F681528 1 Trailer Unverferth 1 Trailer Top Hat 1 Levee Plow 6948 16-Foot Good Fair -4- 4R7FS1625YT03 039 Quantity Kind Manufacturer Size/Type Cond. 1 Combine John Deere 9600 Good H09600X662960 1 Disc Int'l. Harvester 3950 Good JAG0750183 Year Serial No. 4. Davis, his representatives, employees, and agents, must surrender and deliver all of this machinery and equipment, together with all replacements, substitutions and additions, to the U.S. Department of Agriculture (USDA), Farm Service Agency (FSA) at a time and place designated by FSA. The farm equipment and machinery described above shall be sold, or otherwise disposed of, by USDA, FSA, in a commercially reasonable manner, as provided by applicable provisions of the Arkansas Uniform Commercial Code, Ark. Code Ann. § 4-9-601, et. seq. The proceeds from this sale, or other disposition, after expenses shall be first paid to USDA, FSA, to the extent of the indebtedness owed to it. Any remaining proceeds shall be disbursed as provided by applicable provisions of the Arkansas Uniform Commercial Code. -5- 5. The Court retains jurisdiction until 16 August 2013 to make any orders necessary to effectuate the judgment. D.P. Marshall r. United States District Judge 12 February 2013 -6-

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