JONESBORO — Kade Holliday and his former business partner are among the subjects of civil complaint filed by Simmons Bank.
Holliday and Rose Hankins, co-owners of Total Healthcare, entered a loan agreement with Simmons Bank in January 2017 for a property in the 700 block of Locust Drive in Jonesboro. The suit filed Monday indicates that they owe more than $86,000 in mortgage payments, as well as interest and other charges accrued within the last three years.
Also named as defendants were Total Healthcare, Big Wave Finance of San Francisco, Corporation Service Company of Springfield, Ill. and any occupants of the property.
“This is an attempt to collect a debt from Total Healthcare, Holliday and Hankins and any information obtained will be used for that purpose. This complaint is not an attempt to collect a debt from Big Wave, Corporation Service or occupants,” it read.
Its original agreement with Holliday and Hankins was for a loan for $131,024.50, with a fixed interest rate of 5.2 percent to be paid monthly.
“The mortgage was modified on a couple occasions the last being on or about February 16, 2018,” it read.
Hankins claimed in her lawsuit against Holliday the he obtained loans and cash advances in excess of $200,000 on the company’s behalf. In this case, Simmons Bank filed exhibits in its suit showing that Hankins signed the promissory note, commercial security agreement, change-in-terms agreement and commercial guaranty.
“By virtue of the failure to Total Healthcare, Holliday and Hankins to pay the note when due, Simmons has elected to declare the entire unpaid balance of the indebtedness on the note immediately due and payable and to proceed to foreclose the loan documents and repossess (the property) as it is entitled to do.”
Holliday is also being sued by Craighead County government in hopes of recovering nearly $1.6 million in public funds authorities say he stole in his official capacity as county clerk.
He has been ordered to appear in circuit court at 1:30 p.m. Aug. 6 to “show cause, if any, why he has failed to comply with the order … requiring he provide a full and complete accounting within 10 days of the order dated July 2.”