Source: s3://data.kl3m.ai/documents/govinfo/USCOURTS/USCOURTS-almd-2_15-cv-00064/USCOURTS-almd-2_15-cv-00064-0/pdf.json

Nature of Suit Code: 190
Nature of Suit: Other Contract Actions
Cause of Action: 28:1332 Diversity-Breach of Contract

---

IN THE DISTRICT COURT OF THE UNITED STATES FOR THE

MIDDLE DISTRICT OF ALABAMA, NORTHERN DIVISION

PRINSBANK, a Minnesota

banking corporation,

)

)

)

 Plaintiff, )

) CIVIL ACTION NO.

 v. ) 2:15cv64-MHT

) (WO)

GLEN E. POWELL, an

individual; BARBARA C. 

POWELL, an individual; 

JOHNNY W. CRAVEY, an 

individual; SONNY WAYNE 

CRAVEY, an individual; 

JOHN ASHLEY CRAVEY, an 

individual; LISA S. 

CRAVEY, an individual; and 

HEATHER CRAVEY, an 

individual, and OLLIE 

CRAVEY, an individual,

)

)

)

)

)

)

)

)

)

)

)

)

)

 Defendants. )

JUDGMENT AND DECREE OF FORECLOSURE

This matter comes before the court upon plaintiff 

PrinsBank’s motion for summary judgment against 

defendants Glen Powell, Barbara Powell, Johnny Cravey, 

Sonny Wayne Cravey, John Ashley Cravey, Lisa S. Cravey, 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 1 of 11
2

Heather Cravey, and Ollie Cravey (collectively, 

“Defendants”). Based on the representations of the 

parties during the conference call on the record 

November 18, 2015, during which all parties agreed that 

Prinsbank has met the requirements for entry of summary 

judgment under Federal Rule of Civil Procedure 56, and 

based upon the court’s review of the motion, the court 

finds that Prinsbank has met the requirements for entry 

of summary judgment under Rule 56. 

According, it is ORDERED that the motion for 

summary judgment (doc. no. 32) is granted, and it is 

the ORDER, JUDGMENT, and DECREE of the court as 

follows:

1.Defendant Glen E. Powell (“Powell”) and Defendants 

John Ashley Cravey, Johnny Wayne Cravey and Sonny 

Wayne Cravey (collectively, the “Craveys”) have 

defaulted on a loan transaction with PrinsBank 

pursuant to that certain Promissory Note dated 

April 27, 2004 in the original principal amount of 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 2 of 11
3

$2,010,000.00 that was later extended and modified 

by the April 27, 2005 Change in Terms Agreement and 

thereafter reaffirmed and modified by the 

Settlement Agreement and Loan Modification 

Agreement entered into on September 5, 2013 (the 

“April 27 Note”);

2.Powell and the Craveys also defaulted on a loan 

transaction with PrinsBank pursuant to that certain 

Promissory Note dated April 26, 2004 in the 

original principal amount of $1,060,119.00 that was 

later extended and modified by the April 25, 2005 

Change in Terms Agreement thereafter reaffirmed and 

modified by the Settlement Agreement and Loan 

Modification Agreement entered into on September 5, 

2013 (the “April 26 Note”);

3.John Ashley Cravey defaulted on a loan transaction 

with PrinsBank pursuant to that certain Promissory 

Note dated October 10, 2002 in the original 

principal amount of $40,000.00 thereafter 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 3 of 11
4

reaffirmed and modified by the Settlement Agreement 

and Loan Modification Agreement entered into on 

September 5, 2013 (the “October 10 Note,”);

4.Defendants Glen E. Powell, John Ashley Cravey, 

Johnny Wayne Cravey and Sonny Wayne Cravey are 

indebted to PrinsBank on the April 27 Note in the 

amount of $3,718,401.10. This amount consists of 

$2,201,283.45 in unpaid principal and $1,517,117.65 

in accrued in unpaid interest. PrinsBank is 

further entitled to per diem interest of $366.88 

from September 10, 2015 through November 20, 2015 

totaling $26,048.48; 

5.Defendants Glen E. Powell, John Ashley Cravey, 

Johnny Wayne Cravey and Sonny Wayne Cravey are 

indebted to PrinsBank on the April 26 Note in the 

amount of $1,808,460.94. This amount consists of 

$1,059,071.55 in unpaid principal and $749,389.39 

in accrued and unpaid interest. PrinsBank is 

further entitled to per diem interest of $227.99 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 4 of 11
5

from September 10, 2015 through November 20, 2015 

totaling $16,187.29;

6.Defendant John Ashley Cravey is indebted to 

PrinsBank on the October 10 Note in the amount of 

$56,372.41. This amount consists of $34,143.54 in 

unpaid principal and $22,228.87 in accrued and in 

unpaid interest. PrinsBank is further entitled to 

per diem interest of $7.11 from September 10, 2015 

through November 20, 2015 totaling $504.81;

7.Judgment is therefore entered in favor of PrinsBank 

and against Glen E. Powell, John Ashley Cravey, 

Johnny Wayne Cravey and Sonny Wayne Cravey in the 

amount of $5,569,097.81 plus per diem interest of 

$594.87 from November 20, 2015 until the 

indebtedness is satisfied;

8.Judgment is entered in favor of PrinsBank and 

against John Ashley Cravey on the October 10 Note 

in the amount of $56,877.22 plus per diem interest 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 5 of 11
6

of $7.11 from November 20, 2015 until the 

indebtedness is satisfied;

9.The Defendants’ indebtedness on the April 27 Note, 

April 26 Note, and October 10 Note is secured by 

the mortgage liens in favor of PrinsBank pursuant 

to the following mortgages:

a.Powell and Barbara C. Powell signed a Mortgage 

dated June 27, 1996 and recorded in the probate 

records of Covington County in Book 920, page 

909, assigned to and held by PrinsBank, that 

contains a dragnet provision that secures 

borrower’s obligations under the April 25 Note 

and April 27 Note;

b.In conjunction with the April 27 Note, Powell 

and Barbara Powell signed an additional 

Mortgage dated April 27, 2004 and recorded in 

the probate records of Covington County in Book 

2004, page 9125, assigned to and held by 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 6 of 11
7

PrinsBank, that secures borrower Powell’s 

obligations under this Note; 

c.John Ashley Cravey and Heather Cravey signed a 

Mortgage dated April 27, 2004 and recorded in 

the probate records of Covington County in Book 

2004, page 9141, assigned to and held by 

PrinsBank, that secures the borrowers’ 

obligations under the April 27 Note; 

d.John Ashley Cravey and Heather Cravey signed a 

Mortgage dated October 10, 2002 and recorded in 

the probate records of Covington County in Book 

2002, page 21895, assigned to and held by 

PrinsBank, that secures borrower John Ashley 

Cravey’s obligations under the October 10 Note; 

e.John Ashley Cravey signed an additional 

Mortgage dated April 27, 2004 and recorded in 

the probate records of Covington County in Book 

2004, page 9131, assigned to and held by 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 7 of 11
8

PrinsBank, that also secures the borrower’s 

obligations under the April 27 Note;

f.Sonny Wayne Cravey and Lisa S. Cravey signed an 

additional Mortgage dated April 27, 2004 and 

recorded in the probate records of Covington 

County in Book 2004, page 9110, assigned to and 

held by PrinsBank, that also secures borrowers’ 

obligations under the April 27 Note;

g.Johnny Wayne Cravey and Ollie Cravey signed a 

Mortgage dated April 27, 2004 and recorded in 

the probate records of Covington County in Book 

2004, page 9118, assigned to and held by 

PrinsBank, that secures the borrowers’ 

obligations under the April 27 Note;

h.Sonny W. Cravey, Lisa S. Cravey, John Ashley 

Cravey and Johnny Wayne Cravey signed a 

Mortgage dated May 20, 2003 and recorded in the 

probate records of Covington County in Book 

2004, page 5626, assigned to and held by 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 8 of 11
9

PrinsBank, that secures the borrowers’ 

obligations under the April 27 Note;

i.Sonny W. Cravey and John Ashley Cravey signed a 

Mortgage dated April 7, 2014 and recorded in 

the probate records of Covington County in Book 

2014, page 4896, in favor of and held by 

PrinsBank, that secures the borrowers’ 

obligations under the October 10 Note, April 25 

Note, and April 27 Note;

10. Judgment is therefore granted to PrinsBank to 

foreclose on its mortgage liens on the properties 

described in the above-referenced mortgages;

11. PrinsBank shall publish notices of sale for 

three consecutive weeks and conduct the sales of 

the properties in accordance with the terms set out 

in the notices of sale. PrinsBank shall execute 

and deliver a foreclosure deed to the successful 

bidder upon payment of the bid price in certified 

funds payable to PrinsBank. The foreclosure deeds 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 9 of 11
10

conveying the properties shall be submitted to the 

Court for confirmation following the sale. The 

expenses associated with the foreclosure sale shall 

be taxed as costs to the Defendants. If PrinsBank 

is the successful bidder, PrinsBank’s bid price 

shall constitute a credit against the monetary 

judgment entered against the Defendant as set forth 

above;

12. Upon confirmation by the Court, the foreclosure 

of the properties shall be final and Defendants’ 

statutory right of redemption, to the extent such 

right exists with each Defendant, shall expire one 

year therefrom;

13. This Court shall retain jurisdiction to enforce 

the terms of this final judgment.

The clerk of the court is DIRECTED to enter this 

document on the civil docket as a final judgment 

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 10 of 11
pursuant to Rule 58 of the Federal Rules of Civil 

Procedure.

This case is closed.

DONE, this the 23rd day of November, 2015.

 /s/ Myron H. Thompson 

UNITED STATES DISTRICT JUDGE

Case 2:15-cv-00064-MHT-GMB Document 37 Filed 11/23/15 Page 11 of 11