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Next Door Beer & Wine in Pownal faces the possibility of foreclosure, on a claim that the business has failed to make payments on notes to mortgage-holder. (Peter Crabtree)
Next Door Beer & Wine in Pownal faces the possibility of foreclosure, on a claim that the business has failed to make payments on notes to mortgage-holder.
Next Door Beer & Wine in Pownal faces the possibility of foreclosure, on a claim that the business has failed to make payments on notes to mortgage-holder. (Peter Crabtree)
Thursday May 16, 2013

KEITH WHITCOMB JR.

Staff Writer

POWNAL -- A bank has filed a foreclosure complaint against Next Door Beer and Wine, alleging the business has not paid on loans.

The complaint was filed on May 8 by attorney Heather Z. Cooper, of the Rutland law firm Kenlan, Schwiebert, Facey, and Goss on behalf of People's United Financial Inc. doing business as People's United Bank.

Next Door Beer and Wine is located at 7275 Route 7, not far from the Massachusetts border. The foreclosure complaint names the business, Joseph J. Tornabene Sr., Joseph J. Tornabene Jr., and the Vermont Department of Taxes as defendants. Cooper wrote that the tax department holds a lien against the property but that claim is secondary to the bank's.

According to the complaint, on Feb. 20, 2008, Next Door Beer and Wine delivered a "five year note" to the bank with the principal of $22,000. It was secured by a mortgage held by both Tornabenes and was further secured by commercial security agreements from Next Door Beer and Wine and Joseph Tornabene Sr.

The complaint further alleges that on that same day the Tornabene's delivered a "twelve year note" to the bank with the principal amount being $55,000. That note is also secured by a mortgage and security agreements. According to the complaint, the bank also extended credit on a MasterCard Business Card the debt on which would be secured by Next Door Beer and Wine.

On Sept.


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28, 2012, the Tornabenes failed to make a payment on the five year note, on June 29, 2012, failed to make a payment on the 12-year note, and on May 7, 2012, failed to make a payment on the card agreement, wrote Cooper, adding that as of April 11, 2013 a total of $2,427 is owed on the five-year note, $27,903 is owed on the 12-year note, and $16,847 is owed on the card.

"In April 2013, the Bank advanced ($5,369) to redeem the Premises from tax sale. The Bank is entitled to recover those costs from the Tornabene Defendants in accordance with the various Loan Documents," Cooper wrote.

Cooper said Tuesday she had no comment beyond what was in the complaint.

"Defendants deny each and every allegation contained in said Complaint," wrote attorney Robert E. Cummings Jr., of the Bennington firm Cummings and Dailey LLP. He did not return calls seeking comment, nor did the Tornabenes.

Contact Keith Whitcomb Jr. at kwhitcomb@benningtonbanner.com or follow him on Twitter @KWhitcombjr.