- Associated Press - Monday, May 22, 2017

MINOT, N.D. (AP) - A Minot shipping facility designed as a distribution hub for energy and agriculture industries is behind on its loan payments.

The Minot Daily News reports (https://bit.ly/2r8U9hN ) North Dakota Port Services Inc. is in default and is seeking foreclosure.

The city owns the property, which is leased to North Dakota Port Services. The Minot City Council has scheduled a meeting Tuesday for attorney consultation.

The mortgage is held by First Western Bank. It was created in 2013 to secure $10 million in loans.

One loan came into default in November because of the failure to pay a balance and late fees totaling more than $1 million.

A second loan held by the bank also is in default for failing to make monthly payments totaling about $500,000.


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