Moline files suit against former restaurant
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The City of Moline has filed suit against a former restaurant, Blue Ribbon Steak House, over a $150,000 loan that is overdue.
The suit was filed recently in Rock Island County Circuit Court against the restaurant and James P. Lynch, a former owner.
A hearing is set for Jan. 18.
According to the suit, the city loaned the money to Lynch on July 27, 2004, and he signed a promissory note to repay the funds with interest.
The city claims Lynch agreed to make 120 payments of $1,518 with a fixed simple rate of 4 percent per year.
The first payment was due Aug. 1, but no payment has been made, the suit claims.
Blue Ribbon closed in February.
It was replaced this summer by Bass Street Chop House, 1601 River Drive.
The city seeks the $150,000 still owed with a 4 percent interest rate for the months from July 2004 to the date the suit was filed.
The suit seeks a 5 percent interest rate from the date of the court filing until receipt of judgment, plus attorney fees and court costs.
Efforts to reach Lynch for comment Monday were unsuccessful.
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