UNITED STATES DISTRICT COURT 

NORTHERN DISTRICT OF FLORIDA 

PENSACOLA DIVISION 

WACHOVIA BANK, NATIONAL 

ASSOCIATION, 

 Plaintiff, 

v. 

WYATT, INC., DEREK E. WYATT, and 

KRISTEN L. WYATT, 

 Defendants. 

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CIVIL ACTION NUMBER: 

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COMPLAINT

COMES NOW plaintiff, Wachovia Bank, National Association, successor by merger to 

SouthTrust Bank (“Wachovia” or the “Plaintiff”), and for its complaint against defendants 

Wyatt, Inc. (“Wyatt” or the “Borrower”), Derek E. Wyatt (“D. Wyatt”), and Kristen L. Wyatt 

(“K. Wyatt”, and together with D. Wyatt, the “Guarantors”, and the Guarantors collectively with 

Borrower, the “Defendants”) states as follows: 

JURISDICTION AND VENUE

1. Plaintiff Wachovia is a national banking association having its principal place of 

business in Mecklenburg County, North Carolina. 

2. Upon information and belief, defendant Wyatt is a corporation organized and 

existing under the laws of the state of Florida with its principal place of business in Okaloosa 

County, Florida. 

3. Upon information and belief, defendant D. Wyatt is a citizen of the state of 

Florida and resides in Okaloosa County, Florida. 

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4. Upon information and belief, defendant K. Wyatt is a citizen of the state of 

Florida and resides in Okaloosa County, Florida. 

5. The amount in controversy against each of the Defendants, exclusive of interest 

and costs, exceeds $75,000.00, and complete diversity exists between Wachovia on the one hand 

and the Defendants on the other. 

6. This Court has original jurisdiction of this case pursuant to 28 U.S.C. § 1332. 

7. Venue is proper pursuant to 28 U.S.C. § 1391(a). 

STATEMENT OF FACTS

8. Wachovia made a $750,000.00 revolving line of credit loan to the Borrower (the 

“Loan”) for residential real estate development. The Borrower’s obligation to repay the Loan, 

with interest thereon, is evidenced by that certain Renewal Revolving Line of Credit Master Note 

made by the Borrower payable to Wachovia dated December 15, 2006, in the stated principal 

amount of $750,000.00 (the “Note”). A true and correct copy of the Note is attached hereto as 

Exhibit A and is incorporated herein by reference. 

9. In addition to the Borrower’s obligation to pay the principal, interest and late 

charges owing under the Note, the Note provides that the holder of the Note is entitled to recover 

its costs and expenses, including attorneys’ fees, incurred in collecting the Note. 

10. As an inducement for Wachovia to make the Loan to the Borrower, the 

Guarantors unconditionally guaranteed payment of the Loan and other sums due on the Note. 

The guaranties of the Guarantors are evidenced by that certain Continuing Guaranty dated 

December 15, 2006, executed by D. Wyatt in favor of Wachovia and that certain Continuing 

Guaranty dated December 15, 2006, executed by K. Wyatt in favor of Wachovia (together, the 

“Guaranties,” and the Guaranties collectively with the Note and any and all other documents 

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evidencing and/or securing the Loan, including all applicable mortgages and/or security 

instruments, the “Loan Documents”). True and correct copies of the Guaranties are attached 

hereto collectively as Exhibit B and are incorporated herein by reference. 

11. In addition to the Guarantors’ obligations under the Guaranties to pay the 

principal, interest, and late charges owing on the Loan, the Guaranties provide that the 

Guarantors shall also be liable for costs and expenses, including attorneys’ fees, incurred in 

collecting the guaranteed obligations. 

12. The Note has matured, and all amounts owing on the Loan are due and payable in 

full. 

13. On February 4, 2009, February 17, 2009 and February 27, 2009, Wachovia made 

written demand (collectively, the “Demand Letters”) on the Borrower and Guarantors, jointly 

and severally, for payment of all amounts due on the Loan. 

14. The Defendants have failed to honor their respective obligations under the Loan 

Documents despite the Demand Letters. 

15. The Defendants joint and several obligations under the Loan Documents include 

the principal balance of the Loan in the amount of $104,183.72, plus accrued and accruing 

interest thereon, late charges, Wachovia’s costs of collection, including attorneys’ fees and 

expenses, and other amounts recoverable under the Loan Documents. 

COUNT I

(BREACH OF CONTRACT BY BORROWER) 

16. Wachovia incorporates and re-alleges all preceding paragraphs as if fully set forth 

herein. 

17. The Loan Documents are each valid and binding contracts. 

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18. Wachovia has fulfilled its obligations to the Borrower under the Loan Documents. 

19. The Borrower is in default of its obligations under the Loan Documents for, 

among other things, failure to pay the outstanding indebtedness owing on the Loan at maturity in 

accordance with the terms of the Note. 

20. All amounts due and owing on the Loan under the Loan Documents are 

immediately payable. 

21. Despite written demand, the Borrower has failed to pay Wachovia the amounts 

due under the terms of the Loan Documents. 

22. As a consequence of the Borrower’s breach and failure to pay its obligations 

under the Loan Documents, Wachovia has suffered damages as set out further herein. 

23. The Borrower’s obligations under the Loan Documents include the principal 

balance of the Loan in the amount of $104,183.72, plus accrued and accruing interest thereon, 

late charges, Wachovia’s costs of collection, including attorneys’ fees and expenses, and other 

amounts recoverable under the Loan Documents. 

WHEREFORE, Wachovia demands judgment against the Borrower for all amounts due 

and owing under the terms of the Loan Documents, including, without limitation, the principal 

indebtedness outstanding under the Loan, accrued and accruing interest thereon, late charges, 

Wachovia’s costs of collection, including attorneys’ fees and expenses, and any and all other 

amounts recoverable under the Loan Documents. 

COUNT II

(BREACH OF CONTRACT BY GUARANTORS) 

24. Wachovia incorporates and re-alleges all preceding paragraphs as if fully set forth 

herein. 

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25. The Loan Documents are each valid and binding contracts. 

26. Wachovia has fulfilled its obligations to the Guarantors under the Loan 

Documents. 

27. The Guarantors are in default of their joint and several obligations under the Loan 

Documents for, among other things, failure to pay the outstanding indebtedness owing on the 

Loan. 

28. All amounts due and owing on the Loan under the Loan Documents are 

immediately payable. 

29. Despite written demand, the Guarantors have failed to pay Wachovia the amounts 

due under the terms of the Loan Documents. 

30. As a consequence of the Guarantors’ breach and failure to pay their obligations 

under the Loan Documents, Wachovia has suffered damages as set out further herein. 

31. The Guarantors’ joint and several obligations under the Loan Documents, 

pursuant to the Guaranties, include the principal balance of the Loan in the amount of 

$104,183.72, plus accrued and accruing interest thereon, late charges, Wachovia’s costs of 

collection, including attorneys’ fees and expenses, and other amounts recoverable under the Loan 

Documents. 

WHEREFORE, Wachovia demands judgment against the Guarantors, jointly and 

severally, for all amounts due and owing under the terms of the Loan Documents, including, 

without limitation, the principal indebtedness outstanding under the Loan, accrued and accruing 

interest thereon, late charges, Wachovia’s costs of collection, including attorneys’ fees and 

expenses, and any and all other amounts recoverable under the Loan Documents. 

Dated this the 21st day of August, 2009. 

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 /s/ Jennifer A. Harris 

Jennifer A. Harris 

Counsel for Wachovia Bank, National Association 

OF COUNSEL: 

Bradley Arant Boult Cummings LLP

One Federal Place 

1819 Fifth Avenue North 

Birmingham, AL 35203-2104 

Telephone: (205) 521-8000 

Facsimile: (205) 521-8800 

SERVE DEFENDANTS BY SPECIAL PROCESS SERVER 

DEFENDANTS’ ADDRESSES: 

Wyatt, Inc. 

c/o Mark A. Violette, its Registered Agent 

34990 Emerald Coast Pkwy 

Destin, Florida 32541 

Derek E. Wyatt 

19 Paradise Point Drive 

Shalimar, Florida 32579 

Kristen L. Wyatt 

19 Paradise Point Drive 

Shalimar, Florida 32579 

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