Lawsuit claims Coffee Creek defaulted on loan

2013-04-08T18:30:00Z 2013-04-09T00:44:09Z Lawsuit claims Coffee Creek defaulted on loanBob Kasarda bob.kasarda@nwi.com, (219) 548-4345 nwitimes.com

VALPARAISO | Centier Bank has filed a lawsuit alleging Coffee Creek Development in Chesterton has failed to pay a $634,000 balance on a loan.

The bank is asking the court to order the company to pay off its debt with interest and attorney fees, and/or foreclose on the mortgage lien in the case and order the real estate to be sold off at a sheriff's sale.

An official for Coffee Creek could not be located Monday for comment.

Centier said it loaned $784,000 to Coffee Creek on June 20, 2007. As a security for the loan, Coffee Creek granted a first priority mortgage lien to Centier, according to the suit.

The suit claims Coffee Creek defaulted on the loan by failing to pay it off by Sept. 30.

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