Opinion
C.A. No. N17C-05-114 MMJ
01-31-2019
659 CHESTNUT LLC, Plaintiff, v. PARKE BANCORP INC., d/b/a PARKE BANK, Defendant.
On Defendant's Motion for Clarification and Plaintiff's Motion for Bill of Costs and Pre-Judgment and Post-Judgment Interest ORDER
Defendant's Motion for Clarification
Following a bench trial, the Court issued an Opinion dated December 6, 2018. Defendant argues that any judgment should be reduced by $2,000 per month after the building was occupied until the loan was paid.
For purposes of trial, the parties stipulated to certain facts. Pertinent to this Motion, the parties agreed: "Plaintiff would pay amortizing payments...of interest and principal based on a fixed principal payment of $2,000 per month after rent commenced during the Construction Loan Term."
Plaintiff paid the loan in full according to the Payoff Letter prepared by Defendant. The payoff amount included outstanding principal and interest. Plaintiff reserved the right to dispute the Prepayment Penalty, which is a subject of this lawsuit.
The Court clarifies its findings that the parties agreed to payments of $2,000 per month in "fixed principal." The payoff amount satisfied any outstanding principal.
THEREFORE, the relief requested in Defendant's Motion for Clarification is hereby DENIED.
Plaintiff's Motion for Bill of Costs
and Pre-judgment and Post-Judgment Interest
Plaintiff seeks an award of costs as the prevailing party, as well as pre-judgment and post-judgment interest. Defendant has raised certain objections.
The Court awards the following:
(1) $33,750 Prepayment Penalty;
(2) Pre-Judgment interest from October 21, 2016, the date Plaintiff paid the Prepayment Penalty;
(3) $1,380.80 in filing and alert fees;
(4) $350 for filing and trial fees;
(5) $15 for service of a trial subpoena; and
(6) Post-Judgment interest from December 7, 2018.
The Court denies reimbursement for the deposition transcript, the remaining portion of the trial subpoena service fee, and the mediator fees.
THEREFORE, Plaintiff's Motion for Bill of Costs and Pre-Judgment and Post-Judgment Interest is hereby GRANTED IN PART AND DENIED IN PART.
IT IS SO ORDERED.
1/31/19
/s/ _________
The Honorable Mary M. Johnston