Great Western Bank v. Pro Tank Products et al

Filing 52

JUDGMENT in favor of Great Western Bank against Pro Tank Products, Todd J. Marsh, Motions terminated: 39 MOTION for Summary Judgment filed by Great Western Bank. Signed by Judge Brian Morris on 8/30/2017. (See Order for full details) (TLO)

IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF MONTANA
GREAT FALLS DIVISION

GREAT WESTERN BANK, a South
Dakota chartered bank,
Plaintiff,
vs.
PRO TANK PRODUCTS, INC.,
a North Dakota corporation;
TODD J. MARSH, an individual;
STOCKMAN BANK OF
MONTANA, a Montana banking
corporation; and
RABO AGRIFINANCE, INC.,
a Delaware corporation;
Defendants.

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Cause No. CV-16-94-GF-BMM

JUDGMENT

Upon this Court’s Order in open court granting Great Western Bank’s
motion for summary judgment,
IT IS HEREBY ORDERED, ADJUDGED AND DECREED that:
1.

Judgment is entered against Defendant Pro Tank Products, Inc. in

favor of the Plaintiff Great Western Bank on Note A in the full sum of $810,067.94
together with interest at the rate of 4% per annum from August 10, 2016, as well as
attorneys’ fees, costs and disbursements.

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2.

Judgment is entered against Defendant Pro Tank Products, Inc. in

favor of Plaintiff Great Western Bank on Note B in the full sum of $664,012.98
together with interest at the rate of 5% per annum from August 10, 2016, as well as
attorneys’ fees, costs and disbursements.
3.

Judgment is entered against Defendant Pro Tank Products, Inc. in

favor of Plaintiff Great Western Bank on Note C in the full sum of $1,529,040.88
together with interest at the rate of 4.5% per annum from August 10, 2016, as well
as attorneys’ fees, costs and disbursements.
4.

Judgment is entered against Defendant Todd J. Marsh in favor of

Plaintiff Great Western Bank in the full sum of $2,056,444.44 together with
interest at the rate of 4% per annum from August 10, 2016, as well as attorneys’
fees, costs and disbursements.
5.

Judgment is entered on the against Defendant Todd J. Marsh on the

Guaranties for the full sum of $3,003,121.80 together with interest at the rates
described in paragraphs A, B, and C above, as well as attorneys’ fees, costs and
disbursements.
6.

That all sums due to Plaintiff Great Western Bank from Defendant

Pro Tank are secured by the following: (1) that certain Commercial Security
Agreement dated May 2, 2014, executed in favor of Great Western Bank; (2) that
certain Commercial Security Agreement dated May 2, 2014, executed in favor of
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Great Western Bank; (3) that certain Commercial Security Agreement dated May
2, 2014, executed in favor of Great Western Bank; and (4) that certain Commercial
Security Agreement dated April 9 ,2015 executed in favor of Great Western Bank
(collectively, the “Commercial Security Agreements”). The Commercial Security
Agreements granted a security interest in personal property described therein,
which is a first and prior lien upon the personal property described in the
Commercial Security Agreements only to assets that have been specifically
released by Stockman Bank as reflected in Uniform Commercial Code filings of
record in the State of North Dakota.
7.

That all sums due to Plaintiff Great Western Bank from Defendant

Todd J. Marsh are secured by (1) that certain Agricultural Security Agreement
dated April 26, 2013 executed in favor of Great Western Bank; and (2) that certain
Agricultural Security Agreement dated June 26, 2015, executed in favor of Great
Western Bank (collectively, the “Agricultural Security Agreements”). The
Agricultural Security Agreements granted a security interest in personal property
described therein. Defendant Rabo Agrifinance, Inc. has a priority lien in said
personal property.
8.

Plaintiff Great Western Bank is granted a judgment of foreclosure

against the personal property described in the Commercial Security Agreements
and the Agricultural Security Agreement, and that personal property shall be sold
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by decree and according to the law and practice of the Courts and laws of the State
of Montana governing execution sales and directing the applications of proceeds of
such sale be applied to the debt due to Plaintiff Great Western Bank, subject to the
priority liens of Defendant Rabo Agrifinance, Inc. and Defendant Stockman Bank.
9.

In the event the proceeds of the sale of personal property described in

the Commercial Security Agreements and the Agricultural Security Agreement are
insufficient to pay the amount due Plaintiff Great Western Security Bank, Plaintiff
Great Western Security Bank shall have a judgment on the Notes against
Defendants Pro Tank and Todd J. Marsh, jointly and severally, in the amount of
such deficiency.
This Court shall retain jurisdiction over this action to enter any further
orders that may be necessary.
DATED this 30th day of August, 2017.

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