Broken Arrow City Council
Meeting of: 02-02-2016
To: Mayor and City Council
From: Office of the City Attorney
Title:
title
Consideration, discussion and possible approval of Resolution No. 903, a Resolution authorizing the City Attorney to agree to entry of judgment without admitting liability in the matter of Bank of America, N.A. v. Vicky L. Nettles, et al., Tulsa County District Court Case No. CJ-2015-1352, and directing the City Attorney to prepare and file the necessary documents to effectuate the Journal Entry of Judgment, including the resolution of the Court’s approval pursuant to 51 O.S. § 158.
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Background:
On April 9, 2015, the Plaintiff, Bank of America, N.A., filed its case in the District Court of Tulsa County against Vicky L. Nettles to foreclose its mortgage for the principal sum of $143,744.00 with interest at a rate of 6.62500% per annum. The Defendants Timothy Nettles and Vicky Nettles defaulted on the mortgage for the property located at Lot 14, Block 4, Windsor Estates Second, an addition to the City of Broken Arrow, Tulsa County, State of Oklahoma, according to the Recorded Plat No. 4369.
The City of Broken Arrow claims right, title and interest in and to the subject property by virtue of three (3) nuisance abatement/mowing liens in the amount of $437.64; one recorded on July 24, 2014, under Document No. 2013074314; one recorded on September 26, 2013, under Document No. 2013097446; and one recorded on May 6, 2014, under Document No. 2014037688 that are due and owing to the City of Broken Arrow.
Plaintiff, Bank of America, N.A., has prepared a Journal Entry of Judgment that directs the Sheriff of Tulsa County, State of Oklahoma, to have said real estate appraised and to sell the same with the proceeds from the sale to be distributed to the payment of the costs of the sale of the action to the Defendant, City of Broken Arrow, in the amount of $437.64, plus any accrued penalties or interest and to the Plaintiff, Bank of America, N.A., in the principal sum of $139,915.16 with 6.62500% interest per annum from December 1, 2009, until paid, and the residue, if any, to be paid to the Clerk of this Court to await further Order of the Court. The Legal Department recommends that the City approve and sign the proposed Journal Entry of Judgment.
Cost: None
Prepared By: Beth Anne Wilkening, City Attorney
Reviewed By: Acting Assistant City Manager
Development Services Department
Approved By: Michael L. Spurgeon, City Manager
Attachments: Resolution No. 903
Recommendation:
Approve Resolution No. 903 and authorize its execution.