Opinion
CASE NO.: C 02-4698 JL
April 14, 2004
John Morello, CAMPBELL GLASS, SALTZMAN JOHNSON LAW CORPORATION, Muriel B. Kaplan for Plaintiffs
JUDGMENT PURSUANT TO STIPULATION
IT IS HEREBY STIPULATED by and between the parties hereto, that Judgment in the within action may be entered in favor of the plaintiffs and against defendant Campbell Glass, as follows:
1. Defendant entered into a valid collective bargaining agreement with the District Council 16 of the International Union of Painters and Allied Trades (hereinafter "Bargaining Agreement"). This Bargaining Agreement has continued in full force and effect to the present time.
2. Pursuant to the Bargaining Agreement and the Trust Agreements of Plaintiff Funds as amended, which are incorporated into the Bargaining Agreement, defendant is indebted to plaintiffs in the sum of $99,460.68 representing employee benefit contributions found on an audit of the period July 1, 1999 through October 31, 2002, to be due and owing under the terms of the
Bargaining Agreement, as follows:
Net Contributions $78,011.67 Interest $11,260.51 Liquidated Damages $750.00 Audit $2,449.00 Attorney's Fees to 1/31/04 $6,488.50 Costs of Suit $501.00 TOTAL $99,460.68
3. Based on defendant's assertion and provision of documents in support of defendant's inability to pay all amounts due, plaintiffs' have agreed to accept payment of $25,000 in full satisfaction of the amount found due as referenced above. Defendant shall pay the sum of $25,000 in full no later than June 1, 2004.
4. Defendant has represented that he is pursuing home refinancing as the source of funds to resolve this action. Defendant warrants that his equity in such property exceeds the $25,000 to be paid hereunder, plus reasonable amounts to cover his closing costs. Defendant shall provide plaintiffs with a report of the refinancing status on the 15th of each month beginning April 15, 2004 until this judgment is satisfied.
5. Plaintiffs will record, an Abstract of this Judgment in the amount of $99,460.68, but plaintiffs' demand for full satisfaction on closing of defendant's escrow shall be the agreed $25,000.00.
6. In the event that payment of settlement in full is not received from defendant by June 1, 2004, as required under Paragraph 3 above, then:
(A) The entire balance of $99,460.68, less any principal payments received by Plaintiffs, shall be immediately due, together with any additional attorneys' fees and costs under section (d) below.
(B) A writ of execution may be obtained against Defendant without further legal action, in the full amount of the unpaid balance of the judgment, plus any additional amounts under the terms herein, upon declaration of a duly authorized representative of the plaintiff's setting forth any payment theretofore made by or on behalf of defendant and the balance due and owing as of the date of default.
(C) Defendant waives notice of entry of judgment and expressly waives all rights to stay of execution and appeal. Judgment may be entered by a magistrate or a judge without the necessity of a noticed motion.
(D) Defendant shall pay all additional costs and attorneys' fees incurred by plaintiffs from February 1, 2004 until satisfaction in connection with collection of the amounts owed by defendant to plaintiffs under this Stipulation.
7. Any failure on the part of the plaintiffs to take any action against defendant as provided herein in the event of any breach of the provisions of this Stipulation shall not be deemed a waiver of any subsequent breach by the defendant of any provisions herein.
8. Plaintiffs specifically reserve all rights to bring a subsequent action against defendant for the collection of any additional contribution delinquencies found to be due for the hours worked during the periods preceding the date of this Stipulation. Defendant specifically waives the defense of the doctrine of res judicata in any such action.
IT IS SO ORDERED.