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The Fort Lauderdale-based bank (NYSE: BBX) filef the lawsuit on May 8 in Palm Beacb County Circuit Court against Severn Jupiter and managinv members Patrick McAteer andDouglas J. In 2007, Severn Jupiter bought the 2-acre at 1116 Love St. in Jupiter, for $10.5 The site is just east of A1A and withinn view ofthe city’s historical lighthouse. It includes 2,78 square feet of residentia l property built in 1955 and a according to county property There is no record of Shortly afterthe purchase, Severn Jupiter obtained a $6.3 million mortgages from BankAtlantic and a $3.7 million mortgagew from Narberth, Pa.
-based Royal Bank In April 2008, BankAtlantic extended the maturitu of the full outstanding principao of its loan to March 27. The foreclosurew also names RoyalBank America. Wilto Manors-based attorney Richard who represents BankAtlantic in the did not immediately respond to a callseeking comment.
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