SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK PMT NPL FINANCING , STIPULATION

Transcription

1 SUPREME COURT OF THE STATE OF NEW YORK COUNTY OF NEW YORK X PMT NPL FINANCING , -against- STIPULATION Plaintiff,. SETTLEMENT OF Index No.: /2015 FRANK DOUGLAS, BOARD OF MANAGERS OF AMENDMENT OF THE 555 W23 CONDOMINIUM, NEW YORK STATE DEPARTMENT OF TAXATION AND FINANCE, NEW YORK CITY TRANSIT ADJUDICATION BUREAU, NEW YORK CITY ENVIRONMENTAL CONTROL BOARD, NEW YORK CITY PARKING VIOLATIONS BUREAU; JOHN DOE #1 through JOHN DOE #10, inclusive, the names of the last ten defendants being fictitious, real names unknown to the Plaintiff, the parties intended being persons or corporations having an interest in, or tenants or persons in possession of, portions of the mortgage premises described in the Complaint,, Defendants X WHEREAS Defendant Frank Douglas is the obligor and mortgagor under the certain Note and Mortgage referenced in paragraph one (1) herein; WHEREAS Defeñdañt Frank Douglas is in default pursuant to the terms of the certain Note and Mortgage referenced in paragraph one (1) herein; WHEREAS SVA Estates LLC, successor-in-interest to named Plaintiff PMT NPL Financing , is the current transferee and holder of the subject Note and current assignee of the subject Mortgage referenced in paragraph one (1) herein; WHEREAS SVA Estates LLC is not aware of any claims against it with regard to the subject Mortgage referenced in paragraph one (1) herein;

2 IT IS HEREBY STIPULATED AND AGREED, by and between SVA Estates LLC (hereinafter "SVA"), successor-in-interest to named Plaintiff PMT NPL Financing (hereinafter "Plaintiff"), and Defendant Frank Douglas (hereinafter "Defendant Douglas"), and through their duly attorneys, that the above captioned proceeding is hereby settled upon the following terms and conditions (the "Settlement Agreement"): l. Defendant Douglas hereby agrees to pay to SVA the sum of $1,453, ("Settlement Sum") in full settlement of the claims of SVA for principal, interest, late charges, legal fees and court costs asseciated with Dehdant Douglas' default under that certain note dated March 24, 2006 ("Note") given by Defendant Douglas to Wells Fargo Bank, National Asseeistion in the original sum of $1,000, secured by a mortgage ("Mortgage") against the premises known as 555 West 23'd Street, Unit #N-12G, New York, New York ("Premises") recorded in the office of the County Clerk/City Register of the County of New York on July 1, 2006 as CRFN which Note and Mortgage were ultimately transferred and assigned to SVA after several interim assigmncñts by the endorsement/allonges affixed to the Note and further evidenced by Assignment of Mortgage dated Septcmbct 8, 2017 recorded with the County Clerk/City Register of the County of New York on September 20, 2017 as CRFN Defendant Douglas will make payment of the Settlement Sum to SVA as follows: a. $290, no later than September 18, 2018 (the "First Installment"); and $1,163, no later than November 13, 2018 (the "Second Installment"). b. Payments shall be made by bank cashier's check and shall be payable to the law firm of Borah, Goldstein, Altschuler, Nahins & Goidel, P.C. ("BGANG") as attorneys. c. Defendant Douglas shall deliver payment to BGANG at 377 Broadway, New York, New York Both dates for receipt of each installment payment are TIME OF THE ESSENCE. 3. Based upon the foregoing, SVA's Motion for Summary Judgment and Dyfgndant Douglas' Cross-Motion to Vacate Note of Issue (collectively referred to as the "Pending MÒtiÖns''), both most recently returnable on September 12, 2018, are hereby adjourned until November 13, Both SVA and Defendant Douglas agree that all papers assüciated with the Pending Meticas have already been filed with the court and that neither party shall be entitled to submit any further papers either in support of or in opposition to said Pending Motions.

3 4. SVA acknowledges that the First Installment has been received and was timely tendered by Defendant Douglas. In the event that the Second Installment is not timely paid, on November 13, 2018, the Pending Motions will be marked fully submitted. 5. The First Installment payment shall be deemed non-refiedable by Defendant Douglas regardless of the ultimate decision on the Pending Motions or payment of the Second Installment. Upon full execution of this Agreement and receipt and clearance of the First Installment, BGANG is authorized to immediately release the First Installment to SVA or any entity at the written direction of SVA. In the event that Defendant Douglas fails to submit the Second Installment payment in full compliance with the proviaiens of this Agreement, the First Installment payment shall be bensidered applied to interest owed on the subject Mortgage, shall not be refüñded, and shall not under any circumstance cure Defendant Douglas's default under the terms of the subject Note and Mortgage. 6. Provided that Defendant Douglas makes timely payment of both the First and Second Installme± in full compliance with the provisicas of this Settlement Agreement, SVA shall file a Stipulation of Discontinuance of this action and Cancellation of the Lis Pendens, deliver the Satisfaction of Mortgage to Defendant Douglas and return the original Note to Defendant Douglas by certified mail. The Stipulation of Discontinuance of this action and Cancellation of the Lis Pendens shall be filed within fourteen (14) days of clearance of the Second Installment payment. 7. SVA's coüñsel agrees that upon receipt of the Second Installment payment on or before November 13, 2018, it shall contact the Court and file a letter by NYSCEF, advising the Court that full pay ñcñt has been made on settlement and requesting that the Court adjourn the November 13, 2018 licating date for approximately two (2) weeks pcñding clearing of the Second Installment payment. Upon clearance of the Second Installment Payment, SVA's counsel shall file a letter to the Court indicating that full payment has cleared. 8. SVA shall provide Defendant Douglas with an IRS 1098 form for the tax year 2018, prior to November 13, 2018, indicating the smc:ñt of the First Installment and Second Instâilnient received by Plaintiff from Defendant Douglas which has been allocated towards interest en the subject loan. 9, Neither party shall file an IRS Form 1099-C indicating that there is forgiveness or cancellation of debt. 10. GENERAL RELEASE. Upon paymcñt and clearing of the Second Incta ent, SVA, its past, present and future representatives, successors, heirs, executors, administrators,

4 assigns and attorneys (the "Releasors"), hereby absolutely and irrevocably waive, release, discharge and acquit Defendant Douglas, as well as, to the extent applicable, its past, present and future partners, agents, admir-i tra ~s, repre ntatives, attorneys and their respective heirs, successors and assigns (the "Releasees"), from any and all claims, demands, costs, contracts, liabilities, objections, actions and causes of action of any nature, whether in law or in equity, wlietlier known or unknown, whether suspected or unsuspected, whether asserted or unasserted, which the Releasors ever had, now have, or may claim to have against the Releasees on account of or arising from or relating to the underlying foreclosure action bearing the index number and caption listed above. I1. SVA and Defendant Douglas agree to execute any other documents as may be reasonably necessary to conser-mate the terms and conditions of this agreement. 12. This Court shall retain jurisdiction of this case to address any issues invõlved with this Settlement Agreement until it has been fully performed. 13. This Settlement Agreement may not be modified unless in writing and signed by all of the parties or their respective successors-in-interest. 14. When executed by the attorneys, and SVA and Defendant Douglas, this stipüiation may be filed with the court. 15. This stipulation may be signed in counterparts and scanned digital PDF copies of signatures shall suffice for originals. Dated: September 24, 2018 Elmsford, New York KNUCKLES, KOMOSINSKI & MANFRO, LLP CRAIG D. ROBINS, ESQ. Attorneys for Plaintiff Attorne for Defendant By:Ó Tylé M. Fiorillo, Esq. Craig D obins, Esq. 565 Taxter Road, Suite Pinelawn Road, Suite 218-E Elmsford, New York Melville, New York Phone: (914) Phonef(516) By: (Borrower's and Lender's signatures on following page)

5 Pradk Douglas - orîower State of,. County of 2 Subscribed and sworn (or affirmed) before me on this 2 day of..d eds--.-._, 2018, by 1hd... ½, who proved to me on the basis of satisfactory evidence to be the person who appear 6 beforpage. Signature:. (Sea 2nggan Ov3 1/M in New York County Comri cab &rims Me"2 U. 20 ACCEirl'ED AND AGREED TO BY THE OWNER AND HOLDER OF SAID NOTE SVA RSTATES I.LC. By: SVA Estates, LLC By its authorized reprec,entative '. Acknowledgement County of ) ss On Ihe Óy of<2 _ in the yearà$$ before me. personally came to me known, who, mg by me duly sworn, did depose and say that he/shehhey residew in NY, /\l '/ (if the place of residence is in a city, include the street and street number, if any, thereof); that he/she/they is (are) b (pr sident or other officer or director or attorney in fact duly appointed) of thcsa e of carr eneñ), the corporation described in and which executed the above in:;:rument; that he/shchhey know(s) the seal of said corporation; that the seal affixed to saidinstrument is such corporate scal; that it was so affixed by authority of therboard offrectors of said corporation, and that be/shc/they signed hi cr/theirname(s) themtoby like authority. Notary Public State of New Jersey My Commission Expires Dec.20, 2010 LD.# acknowled