The Northern Mariana Islands Retirement Fund yesterday filed a lawsuit to collect on a $150,000-loan.<\/p>\n
The Retirement Fund lodged with the Superior Court the civil complaint against Francisco and Anicia Q. Tomokane.<\/p>\n
Michael White, the Fund\u2019s lawyer, said the Tomokanes executed a promissory note in the amount of $150,000 in favor of his client on May 3, 1995.<\/p>\n
The Tomokanes mortgaged to the Fund an 883-square meter Saipan land to secure the note, White said.<\/p>\n
On April 7, 2004, White said the Fund notified the Tomokanes that they have defaulted on the loan. Despite the notice, the lawyer said the Tomokanes failed to make any payment.<\/p>\n
White asked the court to award the Fund some $150,000 plus interests, besides cost incidental to the lawsuit.<\/p>\n
He also asked the court to foreclose the mortgaged land and auction it so that the proceeds could be used to cover a possible monetary judgment to be awarded by the court.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Northern Mariana Islands Retirement Fund yesterday filed a lawsuit to collect on a $150,000-loan.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-81004","post","type-post","status-publish","format-standard","hentry","category-local-news"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/81004","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=81004"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/81004\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=81004"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=81004"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=81004"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}