The City of Lawton will receive $174,402 to settle multiple lawsuits filed against the now-defunct Great Plains Improvement Foundation for selling seven houses on which the city held mortgages.
The GPIF conducted the transactions in June 2024.
The settlement agreement releases the GPIF from any claims related to the properties previously mortgaged by the City of Lawton.
The settlement amount satisfies the mortgages on all seven foreclosures that were filed and the expenses incurred in filing and service, city officials said.
Settlement of the lawsuits dismisses the suits in their entirety and dismisses all of the defendants “because the City will have been made whole on the foreclosures,” a city official said. Other defendants in the cases included OnPoint Rentals and Liberty Bank, and they were listed only because of “their joint interest in the properties.”
The properties that were previously mortgaged by the City of Lawton were sold by the Great Plains Improvement Foundation to OnPoint Rentals, “hence the reason that OnPoint was listed as a de fendant,” the city off icial explained.