14-year-battle over East Naples mobile home park ownership takes new twist - 2012-07-07
After a 14-year legal battle, senior citizens at Naples Estates mobile home park were surprised Friday to hear that a tactic they suspect was used to fight their attempt to purchase the park may have backfired.
Their attorney, A.J. Stanton, argued to Collier Circuit Judge Hugh Hayes that park owner Norton S. Karno's strategy of stopping mortgage payments on a $6 million loan might mean residents would get the 484-lot East Naples mobile home park without paying.
Stanton contended the park owner knew that if the loan debt, now roughly $20 million, exceeded the $11.7 million purchase price Karno paid in 1997, "he'd get a way out" because it would cancel the purchase agreement.