HOT SPRINGS, Ark. (AP) — A bank has filed a foreclosure suit against the Hot Springs Documentary Film Institute, claiming the entity owes more than $300,000 on the historic Malco Theatre — where a documentary festival is held each year — and a nearby parking lot.
The Sentinel-Record reports that Arvest Bank filed the foreclosure action this week in Garland County Circuit Court. The bank claims that the institute hasn't paid more than $185,000 it owes for the Malco Theatre property and more than $150,000 it owes for a parking lot.
The institute's executive director, Carol Kimery, says they'd been in discussions with the bank about the loans and they were caught off guard by the foreclosure filing. Kimery says she's confident the foreclosure action won't stop this year's film festival.
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