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IN THE UNITED STATES DISTRICT COURT

NORTHERN DISTRICT OF FLORIDA

PANAMA CITY DIVISION

CENTENNIAL BANK, successor

in interest to COASTAL COMMUNITY BANK

Plaintiff,

vs. CASE NO. 5:10 CV 309-RS-EMT

BERNARD S. SMITH

Defendant.

CONSENT FINAL JUDGMENT OF FORECLOSURE

Before me is the parties’ Joint Motion for Entry of Consent Final 

Judgment of Foreclosure (Doc. 39).

IT IS ORDERED:

1. The Court has jurisdiction over the parties and the subject 

matter hereof.

2. Plaintiff, CENTENNIAL BANK, is due $357,104.60 as 

principal, $73,426.06 as interest through May 5, 2011, $3,067.90 as late 

fees, making a total sum of $433,598.56, which amount shall bear interest at 

the post – judgment interest rate defined by 28 U.S.C. § 1961, from the date 

of this judgment until paid.

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3. Plaintiff holds a lien for the total sum superior to all claims or 

estates of Defendant, BERNARD S. SMITH on the following described real 

and personal property located in Bay County, Florida:

LOT 5, East Bay Village, as per map or plat thereof as recorded in 

Plat Book 21, at Page 57, of the Public Records of Bay County, 

Florida

4. If the total sum with interest at the rate prescribed by law and 

all costs of this action accruing subsequent to this judgment are not paid 

within the time required by law, the United States Marshal is ordered and 

directed to sell the property at public sale. 

5. Pursuant to Fed. R. Civ. P. 69, the procedures for sale shall be 

in accordance with the practice and procedure in the State of Florida as 

provided in Chapter 45, Florida Statutes (2010) except that title shall vest in 

the purchaser pursuant to a United States Marshal's Deed issued after 

confirmation of any sale by this Court.

6. Plaintiff is authorized to bid at the sale and any bid by the 

Plaintiff shall be credited against the indebtedness due the Plaintiff. Plaintiff 

shall advance all subsequent costs of this action and shall be reimbursed for 

them by the United States Marshal if Plaintiff is not the purchaser of the 

property at the sale. If Plaintiff is the purchaser at the sale, the United States 

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Marshal shall credit Plaintiff’s bid with the total sum of this judgment with 

interest and costs accruing subsequent to this judgment or such part of it as 

is necessary to pay the bid in full.

7. Upon sale being made, then the United States Marshal is 

directed to make a report and accounting of the proceeds realized from the 

sale, if any, and the bidder, or bidders, at such sale and report the amount of 

the sale for confirmation. The United States Marshal shall file the report of 

sale with the Court no later than fifteen (15) days after the sale. Upon the 

sale being made, the United States Marshal shall retain the proceeds thereof 

until Order Confirming Sale is entered by the Court.

8. Upon the sale being made of the property and confirmed by this 

Court, the Court shall direct the United States Marshal to execute a United 

States Marshal’s Deed to the property. At said time, the Defendant and all 

persons claiming under or against them since the filing of the Notice of Lis

Pendens are foreclosed of all estate or claim in the property and the 

purchaser at the sale shall be let into possession of the property.

9. The United States Marshal shall distribute the proceeds of the 

sale in accordance with the Order Confirming the Sale.

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10. On the Order Confirming the Sale, the United States Marshal 

will execute and deliver the United States Marshal's Deed to the purchaser at 

the sale. Plaintiff shall prepare the United States Marshal's Deed. The 

purchaser at the sale shall pay for and be responsible for affixing to the 

United States Marshal's Deed any documentary stamps or taxes imposed 

upon the recordation of the deed.

11. If the subject property is sold at public auction, there may be 

additional money from the sale after payment of persons who are entitled to 

be paid from the sale proceeds pursuant to the final judgment of foreclosure. 

If you are a subordinate lienholder claiming a right to funds remaining after 

the sale, you must file a claim with the United States Marshal no later than 

60 days after the sale. If you fail to file a claim, you will not be entitled to 

any remaining funds. If you are the property owner, you may claim these 

funds yourself. You are not required to have a lawyer or any other 

representation and you do not have to assign your rights to anyone else in 

order for you to claim any money to which you are entitled. Please check 

with the United States Marshal within ten (10) days after the sale to see if 

there is additional money from the foreclosure sale. 

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12. At any time before the filing of an Order of Confirmation of 

Sale, Defendant may cure the indebtedness adjudicated due herein and 

prevent a foreclosure sale by paying the amount of monies specified in this 

judgment, plus the reasonable expenses of proceeding to foreclosure 

incurred to the time of the tender, including reasonable attorneys’ fees of the 

Plaintiff. Otherwise, there is no right of redemption.

13. The Court reserves jurisdiction over the parties to adjudicate 

any liability relative to Counts II of Plaintiff's Complaint and to make such 

further orders as may be appropriate, including, but not limited to, an order 

for the issuance of a writ of assistance should repossession be contested and 

an order for deficiency judgments. 

14. Because this judgment will not fully resolve all issues among 

the parties – the foreclosure sale and Count II remains pending – the final 

judgment of foreclosure will be entered under Federal Rule of Civil 

Procedure 54(b). The Court expressly determines that there is no just reason 

for delay and expressly directs the clerk to enter the consent final judgment 

of foreclosure.

15. Plaintiff’s Address: Centennial Bank, 635 E. Baldwin Road, 

Panama City, Florida 32405.

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ORDERED on June 2, 2011. 

/s/ Richard Smoak 

RICHARD SMOAK

UNITED STATES DISTRICT JUDGE

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