IN THE DISTRICT COURT IN AND FOR CREEK COUNTY
STATE OF OKLAHOMA
CWP, INC., an Oklahoma Corporation,
Plaintiff,
vs.
BT&Y GROUP, LLC, an Oklahoma limited liability company, TOM D. THOMAS, TJ THOMAS, CORT GIFFIN, MICHAEL BRASHEARS, JAMES W. LONG and RICK ENGLEMAN, Treasurer, Creek County, Oklahoma,
Defendants.
FORECLOSURE PETITION
COMES NOW the Plaintiff, CWP, Inc., an Oklahoma Corporation ("CWP"), and for its cause of action herein against the Defendants, alleges and states:
FIRST MORTGAGE
1. That on the 12th day of September, 2022, for a good and valuable consideration, Defendant, BT&Y Group, LLC., an Oklahoma limited liability company ("BT&Y"), signed and delivered payable to the order of CWP, a note of said date in the sum of $307,027.00, with payments payable each month thereafter, same including interest at twelve percent (12%) per annum and providing for a reasonable attorney's fee on default, as shown by a copy of said note that is filed herein, marked "Exhibit A", and made a part hereof.
2. That the payments have been made on said note to July 1, 2025, but no payments due thereafter have been paid and there is now due, owing and unpaid on said mortgage note the sum of $279,678.30, plus interest thereon at twelve percent (12%) per annum from the 1st day of July, 2025, plus late payments in the amount of $220.25 per month after July 1, 2025, together
with attorney fees, plus advances for taxes, insurance, property maintenance, abstracting costs and Court costs, no part of which has been paid; that because of BT&Y’s failure to make said payments, Plaintiff has elected to mature all of the principal of said note as provided in said note.
3. That, as part of the foregoing transaction and for the purpose of securing the payment of the amounts due under said mortgage note, BT&Y acknowledged and delivered its mortgage dated September 12, 2022, granting and mortgaging unto CWP, and its assigns, a good and valid first mortgage on the following described real estate situated in Creek County, Oklahoma, to-wit:
The East Half of the Southwest Quarter of the Southeast Quarter (E/2 SW/4 SE/4) of Section 36, Township 19 North, Range 8 East of the Indian Base and Meridian, Creek County, State of Oklahoma, according to the U. S. Government Survey thereof,
with the required mortgage tax paid thereon by the mortgagee, receipt as shown by endorsement on said mortgage, and the mortgage was recorded on October 12, 2022, in Book 1403 at Page 752, in the office of the County Clerk of Creek County, Oklahoma, and same is made a part hereof by reference.
4. That said mortgage provided, if any default occurred under the note for which it was security, that the holder thereof was entitled to foreclose said mortgage. Said mortgage is in default since the payment due August 1, 2025, and all subsequent payments have not been paid.
SECOND MORTGAGE
5. That on the 25th day of May, 2023, for a good and valuable consideration, BT&Y signed and delivered payable to the order of CWP, a note of said date in the sum of $100,316.73, with payments payable each month thereafter, same including interest at twelve percent (12%) per annum and providing for a reasonable attorney's fee on default, as shown by a copy of said note that is filed herein, marked "Exhibit B", and made a part hereof.
6. That the payments have been made on said note to November 25, 2024, but no payments due thereafter have been paid and there is now due, owing and unpaid on said second mortgage note the sum of $99,044.80, plus interest thereon at twelve percent (12%) per annum from the 25th day of November, 2024, plus late payments in the amount of $50.00 per month after November 25, 2024, together with attorney fees, plus advances for taxes, insurance, property maintenance, abstracting costs and Court costs, no part of which has been paid; that because of BT&Y’s failure to make said payments, Plaintiff has elected to mature all of the principal of said note as provided in said note.
7. That, as part of the foregoing transaction and for the purpose of securing the payment of the amounts due under said second mortgage note, BT&Y acknowledged and delivered its second mortgage dated May 25, 2023, granting and mortgaging unto CWP, and its assigns, a good and valid second mortgage on the above described real estate situated in Creek County, Oklahoma, with the required mortgage tax paid thereon by the mortgagee, receipt as shown by endorsement on said second mortgage, and the second mortgage was recorded on June 5, 2023, in Book 1437 at Page 602, in the office of the County Clerk of Creek County, Oklahoma, and same is made a part hereof by reference.
8. That said second mortgage provided, if any default occurred under the note for which it was security, that the holder thereof was entitled to foreclose said mortgage. Said second mortgage is in default since the payment due December 25, 2024, and all subsequent payments have not been paid.
9. That Plaintiff will elect at time judgment is rendered to waive appraisement or not.
10. That, as part of the foregoing transactions and for the purpose of securing the payments of all amounts due under the first mortgage and second mortgage, Tom D. Thomas, TJ
Thomas, Cort Giffin and Michael Brashears did each execute a Loan Personal Guarantee, thereby becoming personally liable on the indebtedness to Plaintiff.
11. That Plaintiff is entitled to a joint and several judgment against Tom D. Thomas, TJ Thomas, Cort Giffin and Michael Brashears for the indebtedness owed by BT&Y to Plaintiff, as set forth herein.
12. That on the 8th day of December, 2023, a Mortgage Agreement in favor of Defendant, James W. Long, in the amount of $142,000.00, was recorded in the Office of the Creek County Clerk in Book 1466 at Page 508.
13. That the Defendant, James W. Long, and Defendant, Rick Engleman, Treasurer, Creek County, Oklahoma, claims some right, title, lien, estate, encumbrance, claim, assessment or interest in and to the real property involved herein adverse to Plaintiff which constitutes a cloud on the title to said property, and each Defendant should appear herein and assert said interest so that it may be determined.
14. That the interests of all Defendants are subject and inferior to Plaintiff's first mortgage and second mortgage thereon; and all persons, firms and organizations having claims against said property hold same subject and inferior to Plaintiff's first mortgage and second mortgage thereon.
15. That federal law requires us to inform you that this is an attempt to collect a debt and any information obtained will be used for that purpose.
WHEREFORE, Plaintiff prays that it have joint and several *in personam* judgment against Defendants, BT&Y Group, LLC, Tom D. Thomas, TJ Thomas, Cort Giffin and Michael Brashears for the amounts due and owing under said first mortgage note in the sum of $279,678.30 together with interest thereon at the rate of twelve percent (12%) per annum from the 1st day of July, 2025, until paid, plus late charges, attorney fees, abstracting costs, advances
for taxes, insurance and property maintenance during the pendency of this action. Plaintiff further prays that it have joint and several in personam judgment against Defendants, BT&Y Group, LLC, Tom D. Thomas, TJ Thomas, Cort Giffin and Michael Brashears for the amounts due and owing under said second mortgage note the sum of $99,044.80, together with interest thereon at the rate of twelve percent (12%) per annum from the 25th day of November, 2024, until paid, plus late charges, attorney fees, abstracting costs, advances for taxes, insurance and property maintenance during the pendency of this action. Plaintiff further prays that judgment be entered on its causes of action against all Defendants herein establishing Plaintiff as the owner of said first and second mortgages superior to any rights in said property of any Defendant, that each Defendant be required to set up his interest in said property and that same be foreclosed as aforesaid; and that Plaintiff have all other proper relief, including judgment for costs.
HILTON LAW OFFICE
Brad E. Hilton, OBA #12994
Aubra A. Drybread, OBA #31983
512 West Rogers Blvd.
Skiatook, OK 74070
(918) 396-4400
ATTORNEYS FOR PLAINTIFF,
CWP, INC.
STATE OF OKLAHOMA )
COUNTY OF OSAGE ) ss.
Brad E. Hilton, being first duly sworn upon oath, state: that he is the attorney for the Plaintiff above named; that he knows the contents thereof and that the statements therein contained are true and correct as he is informed and believes.
Brad E. Hilton
Subscribed and sworn to before me this 27th day of March, 2026.
My Commission Expires: 1/24/29
Notary Public Commission #25000954
PURCHASE MONEY REAL ESTATE MORTGAGE
THIS MORTGAGE is made this 12th day of September, 2022, by and between: Tom Thomas, Member of B T & Y Group LLC. (hereinafter called "Mortgagors"), and CWP, Inc., (hereinafter collectively called "Mortgagee").
WHEREAS, Mortgagor is indebted to Mortgagee in the principal sum of Three Hundred Seven Thousand Twenty-Seven and 00/100 dollars ($307,027.00), which indebtedness is evidenced by Mortgagors' promissory note of even date herewith (hereinafter called the "Note"), having a due dated the 12th day of September, 2032.
TO SECURE to Mortgagee the repayment of the indebtedness evidenced by the Note, the payment of all other sums, advanced in accordance herewith to protect the security of this Mortgage, and the performance of the covenants and agreements of Mortgagor herein contained, Mortgagor does hereby mortgage, grant and convey to Mortgagee that certain tract of real property located in Creek County, Oklahoma, to wit:
The East Half of the Southwest Quarter of the Southeast Quarter (E/2 SW/4 SE/4) of Section 36, Township 19 North, Range 8 East of the Indian Base and Meridian, Creek County, State of Oklahoma, according to the U.S. Government Survey thereof.
P.I.D. 0000-36-019-008-0-015-19
together with all the improvements now or hereafter erected on the real property, and all easements, rights, appurtenances and all fixtures now or hereafter attached to the real property, all of which, including replacements and additions thereto, shall be deemed to be and remain a part of the property covered by this Mortgage, and all of the foregoing, together with said real property, hereinafter called the "Property".
Mortgagors covenant that Mortgagors are lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property, that the Property is unencumbered, and the Mortgagors will warrant and defend generally the title to the Property against all claims and demands, subject to any leases, declarations, oil and gas leases, easements and restrictions of record.
Mortgagors and Mortgagee hereby covenant and agree as follows:
1. Mortgagors shall promptly pay when due the Interest on the indebtedness evidenced by the Note.
2. Mortgagors shall pay all the taxes, assessments and other charges, fines and impositions attributable to the Property which may attain a priority over this Mortgage when due, directly to the payee thereof. Upon request, Mortgagors shall promptly furnish to Mortgagee receipts evidencing such payments. Mortgagors shall promptly discharge any lien which has priority over this Mortgage; provided, that Mortgagors shall not be required to discharge any lien so long as Mortgagors shall in good faith contest such lien by, or defend enforcement of such lien in legal proceedings which operate to prevent enforcement of the lien and forfeiture of the Property or any part thereof.
3. Mortgagors shall keep the improvements now existing or hereafter erected on the Property insured against loss by fire, hazards included within the term "extended coverage", and such other hazards as Mortgagee may require and in an amount not less than the unpaid principal amount of the Note. All insurance policies and renewals thereof shall include a standard mortgage clause in favor of Mortgagee. In the event of loss, Mortgagors shall give prompt notice to the insurance carrier and Mortgagee. Mortgagee may make proof of loss if not made promptly by Mortgagors. In the event of damage or destruction of the Property, unless Mortgagors and Mortgagee otherwise agree in writing, the insurance proceeds, at the sole option of Mortgagee, shall be applied to the sums secured by this Mortgage, with the excess, if any paid to Mortgagors, or restoration or repair of the Property damaged.
4. Mortgagors shall keep the Property in good repair and shall not commit waste or permit impairment or deterioration of the Property.
5. If Mortgagors fails to perform the covenants and agreements contained in this Mortgage, or if any action or proceeding is commenced which materially affects Mortgagee's interest in the Property, including, but not limited to, eminent domain, insolvency, code enforcement or arrangements or proceedings involving a bankrupt, then Mortgagee at Mortgagee's option, upon notice to Mortgagors, may make such appearances, disburse such sums and take such action as is necessary to protect Mortgagee's interest, including, but not limited to, disbursement of reasonable attorney's fees and entry upon the Property to make repairs.
6. Mortgagee may make or cause to be made reasonable entries upon and inspections of the Property, provided that Mortgagee shall give Mortgagors notice prior to any such inspection.
entitled to collect in such proceeding all expenses of foreclosure, including, but not limited to, reasonable attorney's fees, costs of documentary evidence, abstracts and title reports.
Mortgagee, as an alternative to judicial foreclosure, may elect to foreclose by power of sale as provided under and pursuant to the Oklahoma Power of Sale Mortgage Foreclosure Act. 46 O. S. Secs. 40-48. and for such purposes Mortgagors authorizes Mortgagee or Mortgagee's attorney or agent, and grants to Mortgagee and Mortgagee's attorney or agent, the power to sell and convey the Property to a purchaser and to foreclose all right, title, interest and estate of Mortgagors and all other persons having an interest subject to the lien of this Mortgage in and to the Property.
13. Upon payment of all sums secured by this Mortgage, Mortgagee shall release this Mortgage without charge to Mortgagors. Mortgagors shall pay all costs of recordation, if any.
14. Appraisement of the Property is hereby waived or not waived at Mortgagee's option, which shall be exercised at the time judgment is rendered in any foreclosure hereof.
EXECUTED the date and year first written hereinabove.
Tom Thomas, Member
B T & Y Group, LLC
STATE OF OKLAHOMA )
COUNTY OF CREEK ) ss:
This instrument was acknowledged before me on this 12th day of September, 2022, by Tom Thomas, Member B T & Y Group, LLC.
NOTARY PUBLIC
My Commission Expires: (SEAL)
PROMISSORY NOTE
(this "Note")
Borrower: BT & Y GROUP, LLC of 7021 E 99 Place Tulsa, OK 74133 (the "Borrower")
Guarantor: Tom D Thomas, TJ Thomas and Michael Brashcars (the "Guarantor")
Lender: CWP Inc. of 416 S Memorial Dr Tulsa, Ok 74112 (the "Lender")
Principal Amount: $100,316.73 USD
1. FOR VALUE RECEIVED, The Borrower and Guarantor promises to pay to the Lender at such address as may be provided in writing to the Borrower and Guarantor, the principal sum of $100,316.73 USD, with interest payable on the unpaid principal at the rate of 12.00 percent per annum, calculated monthly not in advance, beginning on May 25th, 2023.
2. This Note will be repaid in consecutive monthly installments of principal and interest commencing on June 25th, 2023, and continuing on the twenty-sixth of each following month until May 25th, 2038, with the balance then owing under this Note being paid at that time.
3. At any time while not in default under this Note, the Borrower and Guarantor may pay the outstanding balance then owing under this Note to the Lender without further bonus or penalty.
4. Notwithstanding anything to the contrary in this Note, if the Borrower and Guarantor defaults in the performance of any obligation under this Note, then the Lender may declare the principal amount owing and interest due under this Note at that time to be immediately due and payable.
5. The Borrower and Guarantor shall be liable for all costs, expenses and expenditures incurred including, without limitation, the complete legal costs of the Lender incurred by enforcing this Note as a result of any default by the Borrower and Guarantor and such
costs will be added to the principal then outstanding and shall be due and payable by the Borrower and Guarantor to the Lender immediately upon demand of the Lender.
6. Further, if the Lender declares the principal amount owing under this Note to be immediately due and payable, and the Borrower and Guarantor fails to provide full payment within 10 days, the Borrower and Guarantor will be charged a $50 USD late fee.
7. This Note is secured by the following security (the "Security"): The East Half of the Southwest Quarter of the Southeast Quater (E/2 SW/4 SE/4) of Section 36, Township 19 North, Range 8 East of the Indian Base and Meridan, Creek County, State of Oklahoma, according to the U.S. Government Survey thereof.
8. The Borrower and Guarantor grants to the Lender a security interest in the Security until this Note is paid in full. The Lender will be listed as a lender on the title of the Security whether or not the Lender elects to perfect the security interest in the Security.
9. If the Borrower and Guarantor defaults in payment as required under this Note or after demand for ten (10) days, the Security will be immediately provided to the Lender and the Lender is granted all rights of repossession as a secured party.
10. If any term, covenant, condition or provision of this Note is held by a court of competent jurisdiction to be invalid, void or unenforceable, it is the parties' intent that such provision be reduced in scope by the court only to the extent deemed necessary by that court to render the provision reasonable and enforceable and the remainder of the provisions of this Note will in no way be affected, impaired or invalidated as a result.
11. This Note will be construed in accordance with and governed by the laws of the State of Oklahoma.
12. This Note will enure to the benefit of and be binding upon the respective heirs, executors, administrators, successors and assigns of the Borrower and Guarantor and the Lender. The Borrower and Guarantor waives presentment for payment, notice of non-payment, protest and notice of protest.
13. 180 Monthly Payments of $1,203.97.
IN WITNESS WHEREOF the parties have duly affixed their signatures under seal
SIGNED, SEALED, AND DELIVERED
this 3rd day of May, 2023.
BT & Y GROUP, LLC
