MOUNDSVILLE — A North Carolina bank is suing a Wheeling borrower and guarantor, alleging breach of contract and a guaranty agreement.
Branch Banking and Trust Company filed a complaint in Marshall Circuit Court against Indian Point Properties LLC and Michael McGovern, alleging default in payment of $348,000.
According to the complaint, on March 23, 2012, the defendants executed a promissory note payable to Branch Banking in the amount of $350,000. The note was secured by a deed of trust and pledge for the property commonly known as McGovern's Pub, 200 Ruth Ave., Wheeling.
As of Sept. 7, 2018, the balance due under the note is $348,262.80, inclusive of interest, late fees and other additional fees and costs. The plaintiff alleges Indian Point Properties and McGovern have failed to pay monthly payments when due and failed to timely pay real estate taxes and to maintain hazard insurance for the property.
Branch Banking and Trust seeks trial by jury, judgment of $348,262.80, attorney fees, court costs, interest and an order requiring the defendants to provide the plaintiff with access to the property. It is represented by attorney Travis A. Knobbe of Spilman Thomas & Battle PLLC in Pittsburgh.
Marshall Circuit Court case number 18-C-218