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Case 3:11-cv-01914-DRD Document 1

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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF PUERTO RICO PUERTO RICO FARM CREDIT, ACA Plaintiff, v. ECO-PARQUE DEL TANAMÁ, CORP.; IVAN ORTIZ RUIZ; HIS WIFE ANA MARÍA SERRANO BÁEZ; AND THE CONJUGAL PARTNERSHIP CONSTITUTED BY THEM Defendants VERIFIED COMPLAINT TO THE HONORABLE COURT: COMES NOW, Puerto Rico Farm Credit, ACA (“PRFC” or “Plaintiff”), through its undersigned counsel and respectfully states, alleges and prays: I. JURISDICTION AND VENUE 1. U.S.C. § 632. II. THE PARTIES THE PARTIES AND JURIDICTION 2. PRFC is a corporation, successor in right of the Puerto Rico Production Credit This Honorable Court has jurisdiction for the present civil action pursuant to 12 COLLECTION O F MONEY AND FORECLOSURE OF MORTGAGE Civil No.

Association, a Lending Cooperative Association that is an instrumentality of the United States of America (Farm Credit Act of Nineteen Seventy One (1971)) as amended, with principal offices

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in San Juan, Puerto Rico. The mortgage loan referred to herein is a financial operation made within the Commonwealth of Puerto Rico. 3. To PRFC’s best knowledge and belief, defendant Eco-Parque del Tanamá, Corp.

(“Eco-Parque”) is a corporation organized and existing under the laws of the Commonwealth of Puerto Rico dedicated to geo-tourism activities throughout a coffee plantation, with its principal place of business in Utuado, Puerto Rico. 4. To PRFC’s best knowledge and belief, defendant Iván Ortiz Ruiz (“Mr. Ortiz”) is

of legal age, property owner, married and resident of San Juan, Puerto Rico and is not incompetent nor in the military service of the United States of America. 5. To PRFC’s best knowledge and belief, defendant Ana María Serrano Báez (“Mrs.

Serrano”) is of legal age, property owner, married and resident of San Juan, Puerto Rico and is not incompetent nor in the military service of the United States of America (collectively, EcoParque, Mr. Ortiz and Mrs. Serrano, the “Defendants”). III. FACTUAL BACKGROUND 6. PRFC and Defendants entered into a “Requisitos y Acuerdo de Préstamo” dated

as of July 7, 2006, as amended, supplemented and/or restructured pursuant to other agreements, documents, instruments referred to in the loan agreement or at any time executed and/or delivered in connection therewith or related thereto (the “Loan Agreement”). See, copy of the Loan Agreement attached hereto as Exhibit A. 7. Through the Loan Agreement, PRFC provided to Defendants a loan in the amount

of $292,000.00.

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8.

To secure the Debtors’ obligations under the Loan Agreement, PRFC obtained a

Mortgage Note in the principal amount of $292,000.00, with interest rate at 9.50% per annum, which rate could be varied from time to time. Said note was subscribed before Notary Public Carlos Tomassini Ramírez, Affidavit Number 9,118 (the “Mortgage Note”). See, copy of the Mortgage Note attached hereto as Exhibit B. 9. The Mortgage Note is guaranteed by Mortgage Deed Number 122 executed

before Notary Public Carlos Tomassini Ramírez, on July 7, 2006 (the “Deed of Voluntary Mortgage”). The Deed of Voluntary Mortgage encumbers the real estate property described in the Spanish language as follows: “RUSTICA: Finca radicada en el Barrio Santa Isabel de Utuado, Puerto Rico, de CIENTO OCHENTA Y OCHO CUERDAS CON VEINTICINCO CENTÉSIMAS DE OTRA (188.25 CDAS.), equivalentes a setenta y tres (73) hectáreas, noventa y ocho (98) áreas, noventa y siete (97) centiáreas y ochenta (80) miliáreas, en lindes por el NORTE, con Ramón Rivera Candelaria, Sucesión de Emilio González, Antonio Portalatín, Américo Rodríguez, Elías Vargas y Francisco González Arbona; por el ESTE con el Río Tanamá; por el SUR, con Higinio Aponte antes, hoy Francisco Ralat, Sucesión Juana de Fraile, Juan Serrano y el Río Tanamá y por OESTE, con Higinio Aponte antes, hoy Francisco Ralat y terrenos de la PRRA/ Enclava una casa de vivienda, otra casa para almacén y máquina y tres casas para agregados. Segregada posteriormente vía expropiación una parcela de doscientos vientinueve cuerdas punto cincuenta y tres (229.53) metros cuadrados. RUSTICA: Finca radicada en el Barrio Santa Isabel de Utuado, Puerto Rico, de CIENTO OCHENTA Y OCHO CUERDAS CON DIECINUEVE CENTÉSIMAS DE OTRA (188.19 CDAS.), equivalentes a setecientos treinta y nueve mil seiscientos sesenta y ocho punto veintisiete (739,668.27) metros cuadrados, en lindes por el NORTE, con Ramón Rivera Candelaria, Sucesión de Emilio González, Antonio Portalatín, Américo Rodríguez, Elías Vargas y Francisco González Arbona; por el ESTE con el Río Tanamá; por el SUR, con Higinio Aponte antes, hoy Francisco Ralat, Sucesión Juana de Fraile, Juan Serrano y el Río Tanamá y por OESTE, con Higinio Aponte antes, hoy Francisco Ralat y terrenos de la PRRA/ Enclava una casa de 3

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vivienda, otra casa para almacén y máquina y tres casas para agregados.” The Property is recorded at page 52 of volume 330, Registry of Property of Utuado (the “Property”). 10. Pursuant to the Voluntary Mortgage Deed, Defendants agreed to pay the owner

and holder of the Mortgage Note an amount equal to 10% of its principal as a fixed and liquid amount to cover the costs, expenses and attorneys fees in case of foreclosure or other judicial proceedings for the collection of the same. See, copy of the Deed of Voluntary Mortgage attached hereto as Exhibit C. 11. On July 19, 2011, PRFC sent Defendants a notice informing their default under

the Loan Agreement (the “Notice of Default”). See, copy of the Notice of Default attached hereto as Exhibit D. FIRST CAUSE OF ACTION: COLLECTION OF MONEY 12. PRFC incorporates by reference each and every allegation set forth in paragraphs

1 to 11 as if set forth in full below. 13. Agreement. 14. As of this date, Defendants owe the principal amount of $259,745.21 plus Defendants failed to comply with their payment obligations under the Loan

$16,915.22 in interest, $333.35 for late charges and other fees, and $29,200.00 for attorneys’ fees under the Loan Agreement. 15. Those amounts have become due and payable and have not been paid by

Defendants or by any other party on their behalf in spite of PRFC’s collection efforts. 16. PRFC requests this Honorable Court to order the immediate payment of the

amounts owed by Defendants under the Loan Agreement. 4

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SECOND CAUSE OF ACTION: FORECLOSURE OF PROPERTY 17. PRFC incorporates by reference each and every allegation set forth in paragraphs

1 to 16 as if set forth in full below. 18. To date, Defendants owe PRFC the amounts specified in ¶14 of this

Complaint for a total amount of $306,193.78, including principal, interests, costs and attorneys’ fees. Those amounts are due and payable. 19. In the absence of payment in full, PRFC requests from this Honorable Court to

order the foreclosure of PRFC’s mortgage over the Property described in ¶8 of this Complaint. The amounts obtained from the foreclosure of the Property will be used to satisfy the amounts claimed and owed to PRFC under the Loan Agreement. WHEREFORE, it is respectfully requested that this Honorable Court enter Judgment Granting Puerto Rico Farm Credit, ACA’s Complaint: (i) condemning Defendants to pay the amount of $306,193.78,; (ii) decreeing the public sale of the Property for the payment of said amount; (iii) instructing the Marshal of this Honorable Court to deliver the possession of the Property to the successful bidders within twenty (20) days from the date of such sale, and if necessary for such purpose, to evict any occupants of the Property without the need of any further instructions; (iv) entering a deficiency Judgment, if the proceeds of the sale are insufficient to pay the amounts owed to PRFC; and (v) granting any other relief at law available to PRFC. RESPECTFULLY SUBMITTED. In San Juan, Puerto Rico, this 16th day of September, 2011. I hereby certify that on this same date, I electronically filed the foregoing with the Clerk of the Court using the CM/ECF system, which will send notification of such filing to all CM/ECF participants in this case. 5

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O’NEILL & BORGES Attorneys for Puerto Rico Farm Credit, ACA American International Plaza 250 Muñoz Rivera Avenue Suite 800 San Juan, PR 00918-1813 Tel: (787) 764-8181 Fax: (787) 753-8944 By: s/ Luis C. Marini-Biaggi Luis C. Marini-Biaggi USDC No. 222301 E-mail: luis.marini@oneillborges.com By: s/ Lourdes Arroyo Lourdes Arroyo Portela USDC No. 226501 Email: lourdes.arroyo@oneillborges.com

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VERIFICATION I, Víctor Miguel Arroyo Cortés, of legal age, single, Chief Credit Officer of Puerto Rico Farm Credit ACA, and resident of San Juan, Puerto Rico, under penalty of perjury states as follows: 1. 2. That my name and personal circumstances are as stated hereinbefore. That I am Chief Credit Officer of Puerto Rico Farm Credit, ACA, with sufficient

delegated power and authority to execute this Verification on behalf of Puerto Rico Farm Credit ACA, and execute this Verification under penalty of perjury in such capacity. 3. That I have read the preceding Complaint; that the same has been drafted

according to the instructions from Puerto Rico Farm Credit ACA, and that all statements made therein, specifically the statements made in regard to the amounts owed by the Defendants and the mortgage guaranteeing the payment of the same, are true. 4. That the Exhibits attached to the Complaint are a true and correct copy of their

originals, which are in the Bank’s hand. 5. That the amounts owed by the defendants remain unpaid in spite of Plaintiff’s

efforts to collect the same and that such amounts are due and payable to the Plaintiff. 6. That to may better knowledge and belief and as it appears from Puerto Rico Farm

Credit ACA’s records, defendants Mr. Ortiz nor Mrs. Serrano are neither infant nor incompetent and they are not in the military service of the United States of America. 7. That the plaintiff does have a good and just cause of action which warrants the

granting or relief against defendants. 8. I declare under penalty of perjury under the laws of the United States of America

that the foregoing information is true and correct. In San Juan, Puerto Rico, this ___ of September 2011. ________________________________ Víctor Miguel Arroyo 7