USA v. Davis et al
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)
IN THE UNITED STATES DISTRICT COURT
EASTERN DISTRICT OF ARKANSAS
UNITED STATES OF AMERICA
CLEVELAND TYRONE DAVIS
and FULLER SEED & SUPPLY
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
1. In order to receive loan assistance from the Government, Davis,
Defendant executed certain Promissory Notes, representing loans made,
renewed, rescheduled, or reamortized between 16 February 2000 and 8 June
2004. They are more particularly described as follows:
17 July 2003
installments in the
amount of $15,326.00 beginning 1
*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.
8 June 2004
7 annual installments in the amount
of $5,535.00 beginning 31 December
2. The payments due on the above-described promissory notes are in
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,
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:
16' X 50'
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. 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
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