ORDER

LISA GODBEY WOOD, Chief District Judge.

Presently before the Court is Plaintiff's motion for default judgment against Defendant Jon Jons Waste Disposal, Incorporated ("Defendant Jon Jons"). Dkt. No. 18. Upon due consideration, Plaintiff's motion for default is GRANTED.

The clerk's office granted an entry of default as to Defendant Jon Jons on April 3, 2013. Dkt. No. 14. This entry constitutes an admission of Plaintiff's "well-pleaded allegations of fact." Nishimatsu Constr. Co., Ltd. v. Houston Nat'l Bank, 515 F.2d 1200, 1206 (5th Cir. 1975).1 Defendant Jon Jons, however, "is not held to admit facts that are not well-pleaded or to admit conclusions of law." Id. Accordingly, before entering a default judgment for damages, the Court "must ensure that the well-pleaded allegations in the complaint, which are taken as true due to the default, actually state a substantive cause of action and that there is a substantive, sufficient basis in the pleadings for the particular relief sought." Tyco Fire & Sec., LLC v. Alcocer, 2007 WL 542583, at *2 (11th Cir. Feb. 22, 2007); see also Cotton v. Mass. Mut. Life Ins. Co., 402 F.3d 1267, 1277-78 (11th Cir. 2005).

According to Plaintiff's Complaint, on or about August 28, 2008, Defendant Jon Jons consolidated two notes into a single loan by execution of a promissory note in favor of Oglethorpe Bank in the principal amount of $342,757.90 ("First Promissory Note"). Dkt. No. 1 at ¶ 20. Defendant Jon Jons has defaulted on its obligations under the First Promissory Note. Dkt. No. 1 at ¶ 33,

Additionally, according to Plaintiff's Complaint, Defendant Jon Jons executed a promissory note in favor of Oglethorpe Bank on May 27, 2099 in the principal amount of $102,914.20 ("Second Promissory Note"). Dkt. No. 1. at ¶ 35. Defendant Jon Jons has defaulted on its obligations under the Second Promissory Note. Dkt. No. 1. at ¶ 46.

Defendant Jon Jons executed a third promissory note on or about April 3, 2009 for the principal amount of $36,843.00 ("Third Promissory Note"). Dkt. No. 1 at ¶ 48. Defendant Jon Jons is now in default under the Third Promissory Note. Dkt. No. 1 at ¶ 62.

On or about December 16, 2010, Defendant Jon Jons renewed a short term loan consolidation by execution of a promissory note in favor of Oglethorpe Bank in the principal amount of $20,475.00 ("Fourth Promissory Note"). Dkt. No. 1 at ¶ 67. Defendant Jon Jons has defaulted on its obligations under the Fourth Promissory Note. Dkt. No. 1 at ¶ 74.

Under the terms of the First, Second, Third, and Fourth Promissory Notes, Defendant Jon Jons was obligated to make monthly periodic payments. Dkt. No. 1 at ¶¶ 27, 40, 56, 69. The First, Second, and Third Promissory Notes provided for the accrual of interest on the principal amount at a rate of six and one-half percent per year. Dkt. No. 1 at ¶¶ 28, 41, 57. The Fourth Promissory Note provided for the accrual of interest on the principal amount at a rate of seven percent per year. Dkt. No. 1 at ¶ 70. The First, Second, Third, and Fourth Promissory Notes further provide for the imposition of a late charge equal to ten percent of the payment amount or $5.00, whichever is greater, in the event a payment is made more than fifteen days after it is due. Dkt. No. 1 at ¶¶ 29, 42, 58, 71. The promissory notes further provide for the collection of attorney's fees in the event of default of fifteen percent of the principal and interest then owed. Dkt. No. 1, Ex. G, Ex. K, Ex. P, Exhibit X.

Bank of the Ozarks acquired the loan documents through a Purchase and Assumption Agreement dated January 14, 2011 between Bank of the Ozarks and the Federal Deposit Insurance Corporation, as receiver of Oglethorpe Bank. Dkt. No. 1, ¶¶ 34, 47, 63, 75.

The facts discussed above were corroborated through testimony presented at the Court's July 8, 2013 hearing. Defendant Jon Jons did not appear nor did Defendant Jon Jons present written objection to the entry of a default judgment in favor of Plaintiff.

In considering any default judgment, the Court must examine (1) jurisdiction, (2) liability, and (3) damages. See Pitts v. Seneca Sports, Inc., 321 F.Supp.2d 1353, 1356 (S.D. Ga. 2004). In this case, the Court is satisfied that it has personal and subject-matter jurisdiction, as established by the Complaint. Dkt. No. 1 at ¶¶ 6-9. Plaintiff Bank of the Ozarks is a citizen of Arkansas and all defendants appear to be citizens of Georgia. Dkt. No. 1, ¶¶ 1-6. The amount in controversy exceeds $75,000. See Dkt. No. 1, ¶ 118. Additionally, Jon Jons was formerly a corporation organized and operating under the laws of the State of Georgia. Dkt. No. 1, ¶ 3. Jon Jons was served through its registered agent Neal Boatright. Dkt. No. 9.

Liability has also been established, as the admission to the facts set forth in the Complaint constitutes a breach of contract by Defendant Jon Jons. Finally, the Court is satisfied that the allegations set forth in the Complaint and the evidence presented at the Court's hearing on the matter adequately demonstrate Plaintiff's damages.

Specifically, with regards to the First Promissory Note, evidence submitted at the hearing establishes that Plaintiff is owed $235,851.63 for the unpaid past principal; $53,797.85 for unpaid interest; $5,778.76 for late charges; and $43,447.42 for attorney's fees.2

With regards to the Second Promissory Note, evidence submitted at the hearing establishes that Plaintiff is owed $61,160.38 for unpaid past principal; $15,704.50 for unpaid interest; $1,855.20 for late charges; and $11,529.73 for attorney's fees.

With regards to the Third Promissory Note, evidence submitted at the hearing establishes that Plaintiff is owed $21,641.31 for unpaid past principal; $5,751.47 for unpaid interest; $1,624.49 for late charges; and $4,108.92 for attorney's fees.

With regards to the Fourth Promissory Note, evidence submitted at the hearing establishes that Plaintiff is owed $19,488.30 for unpaid past principal; $3,327.95 for unpaid interest; $284.41 for late charges; and $3,422.43 for attorney's fees.

Accordingly, default judgment is hereby entered pursuant to Federal Rule of Civil Procedure 55(b). The clerk is directed to enter judgment in favor of Plaintiff against Defendant Jon Jons for the First Promissory Note in the amount of:

The clerk is directed to enter judgment in favor of Plaintiff against Defendant Jon Jons for the Second Promissory Note in the amount of:

The clerk is directed to enter judgment in favor of Plaintiff against Defendant Jon Jons for the Third Promissory Note in the amount of:

The clerk is directed to enter judgment in favor of Plaintiff against Defendant Jon Jons for the Fourth Promissory Note in the amount of:

SO ORDERED.