.floatimg-left-hort { float:left; } .floatimg-left-caption-hort { float:left; margin-bottom:10px; width:300px; margin-right:10px; clear:left;} .floatimg-left-vert { float:left; margin-top:10px; margin-right:15px; width:200px;} .floatimg-left-caption-vert { float:left; margin-right:10px; margin-bottom:10px; font-size: 12px; width:200px;} .floatimg-right-hort { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 300px;} .floatimg-right-caption-hort { float:left; margin-right:10px; margin-bottom:10px; width: 300px; font-size: 12px; } .floatimg-right-vert { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px;} .floatimg-right-caption-vert { float:left; margin-right:10px; margin-bottom:10px; width: 200px; font-size: 12px; } .floatimgright-sidebar { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 200px; border-top-style: double; border-top-color: black; border-bottom-style: double; border-bottom-color: black;} .floatimgright-sidebar p { line-height: 115%; text-indent: 10px; } .floatimgright-sidebar h4 { font-variant:small-caps; } .pullquote { float:right; margin-top:10px; margin-left:10px; margin-bottom:10px; width: 150px; background: url(http://www.dmbusinessdaily.com/DAILY/editorial/extras/closequote.gif) no-repeat bottom right !important ; line-height: 150%; font-size: 125%; border-top: 1px solid; border-bottom: 1px solid;} .floatvidleft { float:left; margin-bottom:10px; width:325px; margin-right:10px; clear:left;} .floatvidright { float:right; margin-bottom:10px; width:325px; margin-right:10px; clear:left;}
Developer Greg Judas and his K.C. Holdings VIII LLC owe nearly $5.6 million in principal, interest and late fees on promissory notes for the development of townhomes and commercial property in Johnston, according to a lawsuit filed in Polk County District Court.

The lawsuit, filed Sept. 2, marks the end of a difficult summer for the developer, who entered the Greater Des Moines market in the mid-1990s after leaving the grocery business.

To date, Judas and development companies operating under the K.C. Holdings Inc. umbrella have been named in lawsuits seeking nearly $18.8 million in principal and interest on development loans; he has turned over the deeds to properties securing another $10.9 million in notes.

Peoples Trust and Savings Bank in Adel filed the most recent lawsuit, claiming that Judas has defaulted on two loans that have matured and calling in three additional outstanding loans. The loans were issued between November 2003 and October 2006.

The bank also seeks a sheriff’s sale of the property securing the loans and claims its debt has priority over a mortgage that Judas and K.C. Holdings VIII granted in September 2006 to Eco-Tech Construction LLC for the townhome and commercial property.