While the fate of Ada’s Inc. continues to be played out in the District Court of Guam some Sgro familys personal assets have also encountered trouble. Department of Land Management documents indicate that the home of Agnes A. Sgro and Peter R. Sgro (deceased) is up for sale.
“The Mortgagor has defaulted upon the payment of principal and interest under the terms of the Note secured by the Mortgage ” the documents stated. On Nov. 12 First Hawaiian Bank put the Sgro home and the land it sits on up for sale to satisfy the mortgage. According to court documents the Peter R. Sgro and Agnes A. Sgro Trust with Anthony P. Sgro president of Paradise Fitness Center as trustee took out a mortgage for the property in the amount of $896 335.17 on Aug. 20 1999. As of Oct. 27 2004 the mortgage racked up $21 801.10 in interest. The property is located in Tamuning and is 3 502 square meters or 37 691 square feet. Agnes A. Sgro and Anthony P. Sgro were majority shareholders of Ada’s Inc.
Ada’s Inc. properties continue to be divested under bankruptcy liquidation. MBJ