Mid-State Trust X v. Crowson
JUDGMENT AND DECREE OF FORECLOSURE: Plaintiff's shall have and recover judgment against Defendant Johnny Crowson and in rem against the Property, in the amount of $106,650.00. The Third-Party Complaint of Defendant Johnny Crowson is hereby dismissed with prejudice. Signed by Judge James M. Moody on 3/14/2012. (dmn)
IN THE UNITED STATES DISTRICT COURT
FOR THE EASTERN DISTRICT OF ARKANSAS
MID-STATE TRUST X and GREEN TREE
Case No. 4-03-CV -485-JMM
Defendant/Third Party Plaintiff
JIM WALTER HOMES, INC. and MID-STATE
Third Par Defendants.
JUDGMENT AND DECREE OF FORECLOSURE
On this day this case came on to be heard and, pursuant to this Court's Order
entered March 6, 2012 [Doc. 9], and the arbitrator's award attached to the Motion to
Reopen Case to Enforce Arbitrator's Award [Doc. 8J, the Court finds and orders as
This Court has jurisdiction over the parties and this matter and venue is proper in
On or about March 26,2001, Defendant Johnny Crowson executed and delivered to
Jim Walter Homes, Inc. ("JWH") that promissory note (the "Note") in the original
principal amount of $295,200.00. Plaintiffs are the current owners and holders of
To secure payment of the indebtedness evidenced by the Note, Defendant Johnny
Crowson executed, acknowledged and delivered to JWH that Mortgage (the
"Mortgage") dated March 26, 2001
covering certain real
improvements, including the following real property located in Saline County,
THAT PORTION OF THE WEST HALF OF THE NORTHWEST
QUARTER OF SECTION 18, TOWNSHIP 2 SOUTH, RANGE 14 WEST,
SALINE COUNTY, ARKANSAS, MORE PARTICULARLY DESCRIBED
AS FOLLOWS: COMMENCING AT THE NORTHWEST CORNER OF
SAID WEST HALF OF THE NORTHWEST QUARTER, THENCE S
00°00'00" W 1265.01 FEET; THENCE N 90°00'00" E 20.00 FEET TO THE
EAST LINE OF CANTERBURY ROAD; THENCE N 90°00'00" E 154.93
FEET TO THE POINT OF BEGINNING; THENCE N 90°00'00" E 194.18
FEET; THENCE S 01°15'18" E 71.47 FEET; THENCE S 89°34'10" W
113.81 FEET; THENCE S 00°13'08" E 173.37 FEET TO THE NORTH
LINE OF SILICA HEIGHTS ROAD; THENCE N 58°09'44" W 28.28 FEET
ALONG SAID NORTH LINE OF SILICA HEIGHTS ROAD; THENCE N
60°28'23" W 84.57 FEET ALONG SAID NORTH LINE OF SILICA
HEIGHTS ROAD, DEPARTING FROM SAID NORTH LINE OF SILICA
HEIGHTS ROAD, THENCE N 04°32'18" E 189.68 FEET TO THE POINT
OF BEGINNING, CONTAINING 0.64 ACRES.
The property covered by the foregoing Mortgage is hereinafter referred to as the
The Mortgage, after being duly executed and acknowledged, was filed for record in
the Office of the Circuit Clerk and Ex-Officio Recorder of Saline County, Arkansas
on April 16, 2001 and recorded in Document Book 01, Page 22047. Plaintiffs are the
current owners of the Mortgage.
The Mortgage contains a waiver of all rights of appraisement, appraisal, sale,
redemption, dower, curtesy and homestead under the laws of the State of Arkansas
and especially under the Act approved May 8, 1899, and Acts amendatory thereto.
Defendant Johnny Crowson defaulted in the payments due under the Note.
Pursuant to the arbitrator's award, as a result of such default, Plaintiffs are entitled
to recover judgment against Defendant Johnny Crowson, in the amount of
$106,650.00 as of December 11,2011, together with interest on the foregoing amount
at the rate of 8.5% per annum from and after December 11, 2011. In addition,
pursuant to the arbitration award, Plaintiffs are entitled to recover from Defendant
Johnny Crowson the sum of $812.50 in reimbursement of a portion of the
Plaintiffs have a lien on the Property which is first, paramount and prior to the
right, title, claim, lien and interest of all others. Plaintiffs' right to foreclose has
IT IS, THEREFORE, ORDERED, ADJUDGED AND DECREED as
Plaintiffs shall have and recover judgment against Defendant Johnny
Crowson and in rem against the Property, in the amount of $106,650.00, as of December 11,
2011, together with interest at the rate of 8.5% per annum, equal to a daily amount of
$25.18 per day from December 11, 2011, to the date of this Judgment together with the
additional sum of $812.50. Interest shall accrue on the amounts awarded pursuant to this
Judgment at the rate of .18% per annum.
That the judgment described in paragraph (A) above and the Mortgage
constitute the first and prior liens upon the Property and are superior to all other interests
held or claimed in and to the Property including without limitation, any and all interests claimed
by the Defendant, all rights or possibilities of dower or homestead, appraisement, any rights of
redemption and the rights of any and all persons claiming under the Defendant.
In the event the foregoing sums are not paid within ten (10) days from the date of
this Judgment, the Circuit Clerk of Saline County, Arkansas, who is hereby appointed
Commissioner, shall sell the Property at the door of the Saline County Courthouse in Benton,
Arkansas, at public auction, to the highest bidder, the date and hour of such sale to be fixed by
said Commissioner. Upon such sale all rights, titles, interests, estates and equity or possibilities
of dower, redemption, curtesy, homestead or appraisement of the Defendant in the Property, or
anyone claiming by, through or under him shall be foreclosed and forever barred.
The Commissioner will give notice of such sale once a week for at least four (4)
consecutive weeks prior to the sale in at least one newspaper regularly issued and of general
circulation in Saline County, Arkansas, where the Property is situated.
The Property shall be sold on a credit of thirty (30) days. The purchaser on the
date of sale shall be required to pay the full purchase price or pay ten (10) percent of the
purchase price which is non-refundable and execute a bond, with a commercial corporate surety
or other security satisfactory to the Commissioner, bearing interest from the date of sale in the
amount of the remainder of the purchase price until paid at the rate of five and three-quarters
percent (5.75%) per annum, the payment of said purchase price to be secured by a lien upon the
purchased property; provided, however, that if the Plaintiffs, or their assigns, become the
purchaser at the sale for an amount not in excess of their judgment and interest, in lieu of giving
bond, they may credit the amount of its bid on the judgment herein rendered at the time of
confirmation of such sale, which credit shall be an extinguishment oftheir judgment to the extent
of such credit; and provided further that if its bid shall exceed the amount of the Judgment and
interest they should be required to give bond only for the overplus. Any such overplus from the
sale of the Property, over and above the Plaintiffs' Judgment and interest shall be paid over to
the registry of the court and anyone who claims an equitable or legal interest in and to all or a
portion of the overplus shall petition the Court for a determination of each party's priority of
interest and aliquot shares or proration, if any, thereunto said surplus. Should any successful
bidder fail to perform under the instructions of the Commissioner at time of sale, then that bid
shall be void and set aside. The Commissioner thereafter shall find that the Property be awarded
to the next successive higher bidder, until performance is rendered.
Such sale of the Property shall constitute a permanent bar to and shall foreclose
all rights of redemption, dower, curtesy, homestead and appraisement and all other right, title,
claim and interest in the Property which Defendant, as well as his heirs, personal representatives,
successors or assigns or anyone claiming by, through or under the foregoing, may claim with
respect to the Property.
The Commissioner will report to the Court all actions taken hereunder.
In the event the Judgment herein awarded is not paid as directed and the Property
is sold by the Commissioner at a foreclosure sale, then upon application to the Clerk of this
Court by the successful foreclosure sale purchaser, or the purchaser's attorney, showing that the
possession of the purchased property has been withheld from such purchaser, the Clerk will issue
and deliver forthwith to the Sheriff of Saline County, a Writ of Assistance to enforce delivery of
possession of the purchased property to the purchaser.
The Third-Party Complaint of Defendant Johnny Crowson is hereby dismissed
IT IS SO ORDERED.
UNITED STATES DISTRICT JUDGE
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