By Fred Gough ~ Hutch Post
In court documents filed Wednesday, the First National Bank of Omaha has filed a petition of foreclosure against the owners of Hutchinson Outlots, LLC, and the Rubloff Development Company, based out of Rockford, Illinios. The company owns the Hutchinson Mall and surrounding property.
This is based on a promissory note dated July 27, 2007 in the original amount of 2-million, 707-thousand dollars, then modified the terms on October, 1, 2008. They also delivered to the bank a promissory note dated December 15, 2010, of over 2.4 million dollars.
The bank alleges the company defaulted on the loans or mortgages on parcels of mall property, and they’re now asking that the entire principal amount of the December 2010 note be paid including all accrued and unpaid interest. It should be noted that this does not include the mall building, but adjacent vacant properties including what is called the Home Depot addition.
The Omaha bank is asking for judgment in the amount of $2,182,623 plus interest, late charges, cost and attorney fees accruing from and after January 23, 2012, plus additional funds to pay the taxes, insurance, title search and surveys as a result in the default of making payments.
The filing made Wednesday by Jerry Ricksecker of local Law Firm, Martindell, Swearer Shaffer and Ridenour.
The owners of the Hutchinson Mall had recently received other bad news when one of their main anchor stores, Dillard’s announced they were leaving partly because of sales being down, but also rumors of them not being able to get any response from the owners of the Mall over some issues with their store.
We did check with the Reno County Treasure Clark Miller over taxes owed by the owners of the mall. They are apparently up to date on all taxes. It shows they paid the first half of taxes owed this year, with the second half, $333,943 due on May 10.
City and Chamber officials have indicated to Eagle Radio recently their willingness to work with the owners to try to help solve some of the malls issues, but say they have received very little cooperation.