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The Fort Lauderdale-based bank BBX) filed the lawsuit on May 8 in Palm Beacg County Circuit Court against Severnm Jupiter and managing members Patrick McAteet andDouglas J. Wilkins. In Severn Jupiter bought the 2-acrre property, at 1116 Love St. in Jupiter, for $10.54 million. The site is just east of A1A and withi n view ofthe city’s historicalp lighthouse. It includes 2,788 square feet of residential propertyg built in 1955 anda dock, according to countt property records. There is no record of development. Shortly after the purchase, Severn Jupiter obtained a $6.3 milliomn mortgage from BankAtlantic anda $3.7 millionn mortgage from Narberth, Pa.
-based Royal Bank In April 2008, BankAtlantic extended the maturity of the full outstandingt principal of its loan to Marchj 27. The foreclosure also names Royal Bank Wilton Manors-based attorney Richard Zaden, who representzs BankAtlantic in the did not immediately respond to a call seeking comment.
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