Port foreclosure lawsuit receives new hearing

Published: Thursday, September 19, 2013 at 09:10 AM.

A win for the Port Authority would mean the mortgage was invalid on its face, Gibson said.

The judge could also rule that the mortgage was unenforceable but the note the Port Authority owes Capital City Bank remained a debt that must be paid.

The Port Authority sought a compromise with Capital City Bank prior to the previous court hearing. The Port Authority would add teeth to the enforceability of the mortgage in return for Capital City dropping the foreclosure process to allow the port time to develop and generate revenue.

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