Ore. Bank Sues For $3.5M In Tamarack Golf Default

"West Mountain Golf is in material default," lawyers for the bank wrote in documents filed June 3 in 4th District Court. "The bank has declared ... the entire principal balance, together with all accrued interest, late fees and all sums secured thereby, immediately due and payable in full."

Pacific Continental said it is owed principal and interest of $3.52 million, plus $583.33 that has been accruing each day since June 1.

It also said Boespflug, Miguel, Getty and Barnett had guaranteed to cover the resort's lease payments for the golf course should it default. West Mountain Golf had used payment guarantees as collateral for Pacific Continental's $3.5 million loan in 2005.

Tamarack defaulted on its golf-course lease in early March, the same time the resort was closed by court-appointed receiver Douglas Wilson Co. after running short of operating money and posting massive losses from the ski season.

As a result, Pacific Continental contends the four Tamarack owners are on the hook for at least $313,167 in delinquent lease payments, plus ever-rising late and overdue fees, according to court documents.

Randy Hopkins, owner of Hopkins Financial, didn't return multiple phone calls seeking comment.