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Convenient Foreclosure.

Seven gas station properties scattered across four counties were part of a $779,972 foreclosure sale.

Union Bank of Benton recovered the properties -- three in Little Rock and one each in Jacksonville, Benton, Malvern and Pine Bluff. All were linked with a $985,000 loan to Samuel Thomas Jr. and his wife, Janet.

Calvin and Joyce Brown assigned their foreclosure judgment to the bank after winning their case against the Thomas family. The Browns held a July 1997 mortgage of $797,466.

Other defendants included the bank, Samuel and Melissa Thomas, Roy T. Mitchell and James Donnelly (doing business as Tummies-N-Tanks), Southern Farm Bureau Casualty Insurance of Ridgeland, Miss., and Microtech Environmental Services of Little Rock.

The Thomas family acquired the four Pulaski County properties from the Browns in July 1997 for $505,000.

These included three locations in Little Rock: a 1.1-acre project at 4508 Baseline Road, $250,000; a 0.29-acre project at 7002 Cantrell Road, $86,200; ad a 0.27-acre project at 8719 Kanis Road, $84,850; and one location in Jacksonville, a 0.93-acre location on state Highway 161, $84,850.
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Publication:Arkansas Business
Article Type:Brief Article
Geographic Code:1USA
Date:Mar 12, 2001
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Next Article:Advanced Acquisition.

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