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Claimant's opinion: Unpaid Promissory Note principal and interest
Update on December 2nd 2019 :Defendant still owes $28,252.74 as of this date. A Promissory Note Extension and Change in Terms was signed in August 2018.From this agreement payments totaling $2,000 were made. A $5k payment was attempted on 5/21/19 but check was returned. This Promissory Note Extension was not fulfilled by defendant.Defendant still owes $28,252.74 as of this date. Several emails were sent to Defendant demanding payment. Emails were either ignored or vague promises to respond were made.
It sounds as if this company may very well be in trouble. According to the Kansas City Star, the Lenexa City Council ended an agreement with them on a townhouse project.
"The developer, Zach Henderson, was supposed to have started construction by December 2015, according to his agreement with the city. But when nothing was started by May 10, 2016, the city served notice of default.
According to city records, Henderson could have been given an extension on the timeline, but had not asked for one. The developer told city staff that the project was delayed because of difficulty getting private financing. Staff notes to the city council also mentioned a failure to properly maintain the property and pay real estate taxes on time. Those taxes were eventually paid.
The staff notes also mentioned the city “learned that (the developer) was also experiencing some internal partnership issues it was trying to work through.”
although this isn't really a resolution its good info- Thanks.
Zach and his wife Jessica now run ELUX Capital. As I said before, they open new LLCs and I think roll $$ into the new corporation, without knowledge or permission from previous investors, and fail to repay the Promissory notes!Jessica Spaulding is Zach’s wife, she’s the CEO of ELUX Capital based in Miami, FL
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