Federal Agricultural Mortgage Corporation v. Assemi Brothers, LLC

I. BACKGROUND

26 From January 8, 2018 to February 2, 2023, defendants Assemi Brothers, LLC, Maricopa 27 Orchards, LLC, C & A Farms, LLC, Whitesbridge Farms, LLC, Willow Avenue Investments, 28 LLC, Lincoln Grantor Farms, LLC, Copper Avenue Investments, LLC, ACAP Farms, LLC, Cantua Orchards, LLC, and Gradon Farms, LLC signed a series of notes (the “Farmer Mac Notes”) in favor of Conterra Agricultural Capital, LLC (“CAC”). Doc. 1 (“Compl.”) ¶ 18. The Farmer Mac Notes are secured by deeds of trust on real property (the “Farmer Mac Deeds of Trust”) in Fresno County, Kings County, and Kern County. Id. ¶ 20. Upon origination, the Farmer Mac Notes were assigned by CAC to plaintiff Federal Agricultural Mortgage Corporation (“Farmer Mac”). Id. Defendants allegedly defaulted on the Farmer Mac Notes, and Farmer Mac asserts in this action that, as of November 21, 2024, it is owed at least $41,416,040.49. Id. ¶¶ 2, 4. On February 2, 2023, defendants Maricopa Orchards, LLC, Copper Avenue Investments, LLC, C&A Farms, LLC, ACAP Farms, LLC, Willow Avenue Investments, LLC, Lincoln Grantor Farms, LLC, Cantua Orchards, LLC, and Gradon Farms, LLC…