Spark Lending, LLC v. North To South Investments, LLC

IN THE DISTRICT COURT WITHIN AND FOR OKLAHOMA COUNTY STATE OF OKLAHOMA SPARK LENDING, LLC Plaintiff, vs. NORTH TO SOUTH INVESTMENTS, LLC BRANDON BROWN ROLAND DAVIDSON IV OCCUPANT(S) OF THE PREMISES Defendant(s) FILED IN DISTRICT COURT OKLAHOMA COUNTY No: FEB 19 2026 RICK WARREN COURT CLERK 114 CJ - 2026 - 1321 PETITION Comes now the Plaintiff, Spark Lending, LLC, and for its cause of action against the Defendants above named, alleges and states: 1. That the Plaintiff was all times hereinafter mentioned, and now is duly organized, existing and authorized to bring this action. 2. That the Defendants, North To South Investments, LLC, is an Oklahoma limited liability company. 3. That the original maker(s) for a good and valuable consideration, made, executed and delivered to the Payee, a certain written promissory note; a true copy of said note and endorsements thereon, if any, is hereto attached, marked Exhibit "A", and made a part hereof by reference. 4. That as a part of the same transaction and to secure the payment of the note above described and the indebtedness represented thereby, the owners of the real estate hereinafter described, made, executed and delivered to the Payee of the note, a certain real estate mortgage in writing encumbering the following real property, to -wit: Lot Eight (8) of Block Four (4) in STEVE PENNINGTON 4th ADDITION to Oklahoma County, Oklahoma, according to the recorded plat thereof. 5. That said mortgage was duly executed and acknowledged according to law, the mortgage tax duly paid thereon, and was recorded on August 26, 2024 in Book 15847 at Page 470 in the office of the County Clerk of Oklahoma County, Oklahoma, a true and correct copy of which is attached hereto as Exhibit "B" and the record thereof is incorporated herein by reference; and subsequent Loan Modification Agreement recorded December 10, 2024 in Book 15945 at Page 1545. That Plaintiff was the person entitled to enforce the Note on and before the date this action was filed. That Plaintiff has complied with all the terms, conditions precedent and provisions of said note and mortgage, and is duly empowered to bring this suit. 6. That said note and mortgage provided that if default be made in the payment of any of the monthly installments, or on failure or neglect to keep or perform any of the other conditions covenants of the mortgage, that the entire principal sum and accrued interest, together with all other sums secured by said mortgage, shall at one become due and payable, at the option of the person entitled to enforce the Note, and the person entitled to enforce the Note shall be entitled to foreclose said mortgage and recover the unpaid principal thereon and all expenditures of the mortgagee made thereunder, with interest thereon, and to have said premises sold and the proceeds applied to the payment of the indebtedness secured thereby, together with attorney fees and all costs. 7. The default has been made upon said note and mortgage in that the installments due on January 1, 2025 and thereafter have not been paid. 8. That preliminary to the bringing of this action, and as a necessary expense thereof, this Plaintiff caused title work to be extended and certified to date at a cost which charge is a further lien secured by the Mortgage of the Plaintiff herein sued upon. 9. That said note and mortgage provide that in case of a foreclosure of said mortgage as often as any proceedings shall be taken to foreclose the same, the maker(s) will pay an attorney’s fee as therein provided, and that the same shall be further charge and lien on said premises. 10. That after allowing all just credits there is due to Plaintiff on said note and mortgage the sum of: <table> <tr> <th>Reason:</th> <th>Amount:</th> </tr> <tr> <td>Unpaid Principal Balance</td> <td>$160,000.00</td> </tr> <tr> <td>Date of Default</td> <td>January 1, 2025</td> </tr> <tr> <td>Interest Due From</td> <td>December 1, 2024</td> </tr> <tr> <td>Interest Rate(s)</td> <td>18.000000 %</td> </tr> </table> *or as adjusted by the Note and Mortgage including all advancements of Plaintiff, if any, for taxes, insurance premiums, or expenses necessary for the preservation of the subject property, all costs of this action; reasonable attorney’s fees and costs as the Court may allow, for which amounts said mortgage is a first, prior and superior lien upon the real estate and premises above described. 11. That the mortgage specifically provides that appraisement of the property is expressly waived or not waived at the option of the mortgagee. 12. That the Defendant, North To South Investments, LLC, is the present record owner of the subject property. 13. That the Defendants, North To South Investments, LLC, Brandon Brown and Roland Davidson IV, are personally obligated on the Note herein sued upon unless the liability has been discharged or released. 14. That the Defendant, Occupant(s) Of The Premises, may claim some right, title lien, estate, encumbrance, claim, assessment, or interest in and to the real property involved herein as occupant. Plaintiff prays the said Defendants be summoned in this case and be required to set up in this suit any right, title or interest claimed in and to the property or be forever barred from claiming any right in and to the property. Plaintiff states, however, that any right, title, or interest claimed by each Defendant is subordinate and inferior to the mortgage lien claimed by the Plaintiff, and Plaintiff prays the said Defendants be summoned in this case and be required to set up in this suit any right, title or interest claimed in and to the property to be forever barred from claiming any right in and to the property. WHEREFORE, Plaintiff prays for judgment in personam against the Defendants, North To South Investments, LLC, Brandon Brown and Roland Davidson IV, in the sum listed above in paragraph 10 and for a further judgment in rem against all said Defendants adjudging: That all of said Defendants to require to appear and set forth any right, title, claim or interest which they have, or may have, in and to the property; and, That the mortgage be foreclosed and that the same be declared a valid first, prior and superior lien upon the property, for and in the amounts above set forth and ordering said real estate and premises sold, for cash, with or without appraisement, as the Plaintiff shall elect, and as provided in said mortgage and by law, subject to unpaid taxes, advancements by Plaintiff for taxes, insurance premiums, or expenses necessary for the preservation of the subject property, if any, to satisfy said judgment, and that the proceeds arising therefrom be applied to the payment of the costs herein, and the payments and satisfaction of the judgment, mortgage and lien of this Plaintiff, and that the surplus, if any, be paid into Court to abide the further order of the Court; and, That all right, title and interest of said Defendants, and each of them, if any, in and to the property be adjudged subject, junior and inferior to the mortgage lien and judgment of this Plaintiff, and that upon confirmation of such sale, the Defendants herein, and each of them, and all persons claiming by, through or under them since the commencement of this action, be forever barred, foreclosed and enjoined from asserting or claiming any right, title, interest, estate or equity of redemption in or to the property, or any part thereof; and, That this Plaintiff have such other and further relief as may be just and equitable. Don Timberlake # 9021 Kim S. Jenkins - # 32809 Gina D. Knight - # 12996 Chynna Scruggs - # 32663 BAER & TIMBERLAKE, P.C. 5901 N. Western, Suite 300 Oklahoma City, OK 73118 Telephone: (405) 842-7722 Email: [email protected] COUNTY: OKLAHOMA STATE: OKLAHOMA | ss, The above, being first duly sworn, upon oath deposes and says: That he/she is one of the attorneys for the Plaintiff in the above titled action; that he/she prepared the above and foregoing pleading, knows the contents thereof, and that to the best of his/her knowledge and belief, the matters set forth are true and correct. I state under penalty of perjury on this 18th day of February, 2026, under the laws of Oklahoma that the foregoing is true and correct. Don Timberlake - # 9021 Kim S. Jenkins - # 32809 Gina D. Knight - # 12996 Chynna Scruggs - # 32663 BAER & TIMBERLAKE, P.C. 5901 N. Western, Suite 300 Oklahoma City, OK 73118 Telephone: (405) 842-7722 Email: [email protected] THIS IS AN ATTEMPT TO COLLECT A DEBT. ANY INFORMATION OBTAINED WILL BE USED FOR THAT PURPOSE. Oklahoma Promissory Note (Secured) $145,000.00 Principal 08/23/24 Date FOR VALUE RECEIVED, the undersigned, NORTH TO SOUTH INVESTMENTS, LLC an Oklahoma Limited Liability Company represented by and through its principal Brandon Brown and Roland Davidson IV a (hereinafter the “Borrower”), agrees and promises to pay to the order of Spark Lending LLC and/or assigns (hereinafter the “Lender”) at 320 S Boston Avenue, Suite 1030-17, Tulsa, Oklahoma 74103, or at such other location as may be designated by Lender, the principal sum of ONE HUNDRED FORTY FIVE THOUSAND DOLLARS ($145,000), together with interest thereon at the rate of TWELVE percent (12%) per 360 day annum on the unpaid balance until paid in accordance with OK ST T. 15 § 266 (Interest and Usury) of the Oklahoma Statutes. Said payments will be made in the form of cash, check, money order or wire transfer. The Note may be assigned and transferred by the Lender and anyone who takes this note by such assignment and who is entitled to receive payments under this Note is the “Note Holder.” Borrower will pay to the Lender a THREE point (3% of loan amount) fee equal to FOUR THOUSAND THREE HUNDRED FIFTY DOLLARS ($4,350.00) due at closing. Borrower will also make monthly payments to ONE THOUSAND FOUR HUNDRED FIFTY DOLLARS ($1,450.00) due each month on the 23rd day of the month beginning on September, 2024. A late fee of $100 will be added to any payment not received within 3 days of due date. An additional late fee of $50 per diem will be added if payment is not received within 10 days of due date. Unless agreed upon in writing by the Lender and Borrower, failing to pay the Note back at Maturity date results in the Note entering default. Borrower agrees that the principal amount of this Note, together with all accrued interest, shall be paid in full within SIX (6) months from the date of this Note, unless such due date is extended in writing by the mutual agreement of the Borrower and Lender. If principal amount is not paid back within SIX (6) months from the date of this Note, a MONTHLY ONE point (1% of loan amount) fee equal to ONE THOUSAND FOUR HUNDRED FIFTY DOLLARS ($1,450.00) will be due to Lender in ADDITION to monthly payments of ONE THOUSAND FOUR HUNDRED FIFTY DOLLARS ($1,450.00) until fully paid back. The monthly one point fee (1% of loan amount) will be charged on 24th day of the month beginning on February 24, 2025. Both the monthly fee(s) and monthly payments will be prorated when calculating payoff. Maturity date of the Note February 23, 2025. PREPAYMENT PENALTY: This Note is an interest only loan and payments do not reduce principal. This Note may be prepaid in whole or part at any time, without penalty or premium: DEFAULT: Each of the following shall constitute an event of default (“Event of Default”) under this Note: 1. Borrower fails to make any payment of any amounts that may become due under this Note within FIFTEEN (15) days of the due date; or 2. Borrower fails to comply with or to perform any term, condition, covenant or obligation contained in this Note, the Mortgage, or any of the related document, or to comply with or to perform any term, condition, covenant or obligation contained in any other agreement between the Borrower and the Lender. In the Event of Default, unpaid principal and fee(s) shall begin to accrue at eighteen percent (18%) per annum or the maximum allowable interest rate under Oklahoma State Law whichever is higher, in addition to any other rights or remedies that Lender may have under the state and federal law, until the Borrower is no longer in default. In the Event Of Default, the Lender may declare the entire amount of the unpaid principal balance on the Note and all accrued interest immediately due and payable, and the Borrower shall pay that amount. Additionally, if Borrower, or either of them, commences, or has commenced against them, any bankruptcy proceeding or receivership or similar action, Lender may, at his option, declare all outstanding sums owed on this Note to be immediately due and payable. JOINT AND SEVERAL LIABILITY: Borrowers understand and acknowledge that they are jointly and severally liable for the payments and obligations under this note, and knowingly waive any right to claim otherwise. ALLOCATION OF PAYMENTS: Payments shall be first credited any late fees due, then to interest due and any remainder will be credited to principal. ATTORNEYS’ FEES AND COSTS: Borrower shall pay all costs incurred by Lender in collecting sums due under this Note after a default, including reasonable attorneys’ fees. If Lender or Borrower sues to enforce this Note or obtain a declaration of its rights hereunder, the prevailing party in any such proceeding shall be entitled to recover its reasonable attorneys’ fees and costs incurred in the proceeding (including those incurred in any bankruptcy proceeding or appeal) from the non-prevailing party. WAIVER OF PRESENTMENTS: Borrower waives presentment for payment, notice of dishonor, protest and notice of protest. NON-WAIVER: No failure or delay by Lender in exercising Lender’s right under this Note shall be considered a waiver of such rights. SEVERABILITY: In the event that any provision herein is determined to be void or unenforceable for any reason, such determination shall not affect the validity or enforceability of any other provision, all of which shall remain in full force and effect. INTEGRATION: There are no verbal or other agreements which modify or affect the terms of this Note. This Note may not be modified or amended except by written agreement signed by Borrower and Lender. NOTICE: Any notices required or permitted to be given hereunder shall be given in writing and shall be delivered (a) in person, (b) by certified mail, postage prepaid, return receipt requested, (c) by electronic mail, or (d) by a commercial overnight courier that guarantees next day delivery and provides a receipt, and such notices shall be made to the parties at the addresses listed above. EXECUTION: The Borrower executes this Note as a principal and not as a surety. If there is more than one Borrower, each Borrower shall be jointly and severally liable under this Note. SECURITY: This Note is secured by and subject to the terms of a Mortgage of even date herewith from the undersigned Borrower to the Lender, secured by the real property located in OKLAHOMA County, Oklahoma, to-wit: Legal Description: Lot Eight (8) of Block Four (4) in STEVE PENNINGTON 4th ADDITION to Oklahoma County, Oklahoma, according to the recorded plat thereof. Property Address: 3558 Garden Place, Oklahoma City, OK 73112 and the maturity hereof is subject to acceleration as set forth in the said Mortgage. If any part of or all of the Property is sold, conveyed or transferred without Lender's prior written consent, the Lender may require immediate payment in full of all sums secured by the said Property. GOVERNING LAW: It is agreed by and between the Borrower and the Lender that the laws of the state of Oklahoma shall govern the validity, construction, interpretation and legal effect of this Note and the rights, obligations, and duties of the parties hereunder. The parties further agree that any action arising out of this agreement shall be in the sole and exclusive jurisdiction and venue of the courts located in Tulsa County, Oklahoma. IN WITNESS WHEREOF, the Borrower has set his hand the date and year first above written, agreeing to be bound by the terms, conditions and covenants contained hereon. "BORROWER" By: BRANDON BROWN, Signing as Manager of NORTH TO SOUTH INVESTMENTS, LLC By: BRANDON BROWN, Signing as an Individual By: ROLAND DAVIDSON IV, Signing as Manager of NORTH TO SOUTH INVESTMENTS, LLC By: ROLAND DAVIDSON IV, Signing as an Individual STATE OF OKLAHOMA ) COUNTY OF OKLAHOMA ) ss. Before me, a Notary Public within and for said County and State, on this 23rd day of August , 2024 , personally appeared Brandon Brown and Roland Davidson IV as owner and manager of NORTH TO SOUTH INVESTMENTS, LLC and as individual, to me known to be the identical person who executed the attached and foregoing Personally Guaranteed Promissory Note, and he personally acknowledged to me that he read, understood and signed the same, and that he executed the same as his free and voluntary act and deed for the uses and purposes therein expressed. Notary Public Wendy Williams REAL ESTATE MORTGAGE WITH POWER OF SALE "A POWER OF SALE HAS BEEN GRANTED IN THIS MORTGAGE, A POWER OF SALE MAY ALLOW THE MORTGAGE TO TAKE THE MORTGAGED PROPERTY AND SELL IT WITHOUT GOING TO COURT IN A FORECLOSURE ACTION UPON DEFAULT BY THE MORTGAGOR UNDER THIS MORTGAGE" This Mortgage is made this 23rd day of August, 2024 by and between NORTH TO SOUTH INVESTMENTS, LLC, a Limited Liability Company with a mailing address of 11101 Twin Fawns Oklahoma City, OK 73173 (hereinafter the "Mortgagor"); and Spark Lending LLC, an LLC with a mailing address of 320 S Boston Ave Suite 1030-17, Tulsa, OK 74103 (hereinafter the "Mortgagee"). WHEREAS, the Mortgagor is justly indebted to the Mortgagee in the sum of ONE HUNDRED FORTY FIVE THOUSAND DOLLARS ($145,000) with interest thereon at the rate of TWELVE percent (12%) per annum, according to the terms of a certain Mortgage Note (the "Note") bearing an even date herewith. Maturity date of the Note February 23, 2025. NOW THEREFORE, to secure the Mortgagee the payment of the aforesaid indebtedness, with interest thereon, and the payment of all other monies secured hereby or advanced hereunder, and the performance of the covenants and agreements herein contained, the Mortgagor does hereby grant, bargain, sell, convey and mortgage unto the Mortgagee and specifically grants to and confirms upon Mortgagee the power to sell in the manner provided in the "Oklahoma Power of Sale Mortgage Foreclosure Act", 46 O.S. § 40-48, the following described real property located in OKLAHOMA County, Oklahoma, to-wit: Legal Description: Lot Eight (8) of Block Four (4) in STEVE PENNINGTON 4th ADDITION to Oklahoma County, Oklahoma, according to the recorded plat thereof. Property Address: 3558 Garden Place, Oklahoma City, OK 73112 together will all and singular the tenements, appurtenances and hereditaments thereof; all buildings and improvements now on hereafter constructed thereon; all fixtures, equipment, machinery, apparatus and articles of personal property of every kind and character now owned, or hereafter acquired by, the Mortgagor, and now or hereafter located in, or used for, the operation and maintenance of the aforesaid buildings and improvements. The above described real estate, appurtenances, improvements and collateral hereafter collectively called the "Mortgaged Premises" or the "Premises", are hereby declared to be subject to the Mortgage Lien and security interests created by this Mortgage as security for the payment of all indebtedness and obligations herein described. Mortgagor hereby covenants that Mortgagor is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Mortgaged Premises, that the Mortgaged Premises are unencumbered and the Mortgagor will warrant and defend generally the title of the Mortgaged Premises against all claims and demands, subject to any oil and gas leases, easements or restrictive covenants of record. If, the Mortgagor shall pay the indebtedness as herein described, and shall in all things do and perform all other acts and agreements herein contained to be done, then, and in such event only, this Mortgage shall be and become null and void. The Mortgagor and Mortgagee herein do hereby covenant and agree that while this Mortgage remains in force as follows: 1. Mortgagor shall promptly pay when due, all of the principal and interest of the indebtedness evidenced by the Note and comply with all provisions thereof. 2. The Mortgagor herein agrees to pay all taxes, assessments and special assessments, if any, when they become due, upon the said premises before same become delinquent, and to keep the premises, free and clear of any liens or claims which might become prior to the lien of this Mortgage and to furnish Mortgagee proof of same upon request. 3. The Mortgagor herein agrees to maintain insurance acceptable to, and for the benefit of the Mortgagee insuring against loss by fire and other hazards included within the term "Extended Coverage", and such insurance policy shall name the Mortgagee herein as additional named insured. Such insurance shall be in an amount not less than the indebtedness due under the terms of this Mortgage and Mortgagor shall furnish Mortgagee proof of same upon request. Such insurance shall provide for a least ten days notice of cancellation to Mortgagee. In the event of damage or destruction to the Mortgaged Premises, unless otherwise agreed in writing by Mortgagee, the insurance proceeds, at the sole option of Mortgagee, shall be applied to the sums secured by this Mortgage with any excess paid to Mortgagor, or to restoration or repair of the Mortgaged Premises. 4. The Mortgagor herein will not sell, convey or otherwise transfer all, or any party of, the Mortgaged Premises without the prior written consent of the Mortgagee. 5. The Mortgagor will at all times maintain and keep the Mortgaged Premises in full compliance with all applicable city and state property ordinances, codes and statutes. 6. The Mortgagor will not permit or suffer the use of any of the premises for any purpose other than the use for which the property was intended at the time this Mortgage was executed. 7. That at all rents, profits and income for the premises covered by this Mortgage are hereby assigned to the Mortgagee for the purpose of discharging the debt secured thereby. 8. The occurrence of any of the foregoing events without the Mortgagee's prior written approval, at the Mortgagee's option, will constitute an event of default hereunder, and the Mortgagee will have the option to declare the indebtedness hereby secured immediately due and payable and exercise any or all of the Mortgagee's rights herein provided. 9. In the event of the failure of the Mortgagor to maintain hazard insurance and/or pay all taxes, special assessments or other charges as they become due, the Mortgagee herein may obtain and maintain hazard insurance for his own benefit and pay such taxes, assessments or other charges against the property and the sum or sums to paid by the Mortgagee shall be a lien against the property and secured by this Mortgage and bear interest at the same rate provided in the Note. 10. In the event of default under the terms of this Mortgage or the Promissory Note, the Mortgagor shall furnish to the Mortgagee upon demand, an abstract of title to the Mortgaged Premises, or the title search of continuation evidence and documentation satisfactory to Mortgagee, certified by a bonded abstractor or other appropriate authority satisfactory to Mortgagee from Government Patent or origination down to the then current date. In the event such abstract or other required title search or evidence is not furnished within ten (10) days after such demand, Mortgagee herein may order an abstract or other title evidence, search or documentation, and add the costs thereof, to the debt secured and collectible under this Mortgage. 11. Upon the Mortgagor's breach of any covenant or agreement of Mortgagor in this Mortgage, or the Note secured hereby, Mortgagee prior to acceleration shall mail notice to the Mortgagor as provided herein specifying: (1) the breach; (2) the action required to cure such breach; (3) a date by which such breach must be cured, which shall be at least fifteen (15) days from the date Notice is mailed; and (4) that failure to cure such breach on or before the date specified in the notice may result in acceleration of sums secured by this Mortgage, foreclosure by judicial proceedings or power of sale and sale of the Property, If any sum to be paid hereunder or under the Note is not paid on the date thereof, or if a non-monetary breach is not cured on or before the date specified in the notice, Mortgagee, at Mortgagee's option, may declare all of the sums secured by this Mortgage to be immediately due and payable without further demand and may foreclose this Mortgage by judicial proceeding. Mortgagee shall be entitled to collect in such proceeding all expenses of foreclosure, including, but not limited to, reasonable attorney's fees, and costs of documentary evidence, abstracts and title reports. 12. Notice to the mortgagor provided for in the Mortgage shall be given by mailing such notice by certified mail, return receipt requested, addressed to the Mortgagor, at the address of the Mortgagor set forth herein above. 13. Appraisement of the Mortgaged Premises and all benefits of homestead, exemption and stay laws of the state of Oklahoma are hereby expressly waived or not, at the sole option of the Mortgagee. 14. The rights of the Mortgagee arising under the clauses and covenants contained in this Mortgage shall be separate, distinct and cumulative, and none of them shall be in exclusion of other; and no acts of the Mortgagee herein shall be construed as an election to proceed under any one provision herein to the exclusion to proceed under any other provision, anything herein or otherwise to the contrary notwithstanding. 15. If any term, covenants or condition of this Mortgage shall be held to be illegal or unenforceable in any such respect, this Mortgage shall be construed without such provision. 16. This Mortgage may not be changed, added to; modified, amended or terminated, except by written agreement signed by both the Mortgagor and Mortgagee herein. 17. This Mortgage will be binding on the Mortgagor and the successors and assigns of the Mortgagor and will inure to the benefit of the Mortgagee and all of the heirs, personal representatives, successors and assigns of the Mortgagee. 18. It is agreed that if, and as often as, this Mortgage or the Note hereby secured is placed in the hands of an attorney for collection, or to protect the priority or validity of this Mortgage, or to defend any such affecting the title of the Mortgaged Premises, or to enforce or defend any of the Mortgagees' rights hereunder, the Mortgagor herein shall pay to the Mortgagee reasonable attorney's fees, together with all court costs, expenses for title examination, title insurance or other disbursements, relating to the Mortgaged Premises, which sums shall be secured hereby. 19. It is expressly understood that this Mortgage may not be assumed by any third party without the prior written consent of the Mortgagee. IN WITNESS WHEREOF, the Mortgagor has duly executed this Real Estate Mortgage With Power of Sale on this 23rd day of August, 2024. "MTTGAGOR" By: BRANDON BROWN, Signing as Manager of NORTH TO SOUTH INVESTMENTS, LLC By: BRANDON BROWN, Signing as an Individual By: ROLAND DAVIDSON IV, Signing as Manager of NORTH TO SOUTH INVESTMENTS, LLC STATE OF OKLAHOMA COUNTY OF Oklahoma ) ss. ) Before me, a Notary Public within and for said County and State, on this 23rd day of August , 2024 , personally appeared Brandon Brown and Roland Davidson IV as owner and manager of NORTH TO SOUTH INVESTMENTS, LLC and as individual, to me known to be the identical person who executed the attached and foregoing Real Estate Mortgage with Power of Sale, and he personally acknowledged to me that he read, understood and signed the same, and that he executed the same as his free and voluntary act and deed for the uses and purposes therein expressed. Notary Public Wendy Williams