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US Bank Trust NA v. O'Loughlin

United States District Court, D. Maine

December 10, 2018

U.S. Bank Trust, N.A., as Trustee for LSF10 Master Participation Trust Plaintiff
v.
Joanne T. O`Loughlin and James F. O`Loughlin III Defendants Household Finance Corporation II Party-In-Interest

          John A. Doonan, Esq., Bar No. 3250 Reneau J. Longoria, Esq., Bar No. 5746

          CONSENT JUDGMENT OF FORECLOSURE AND SALE

          George Z. Singal United States District Judge.

         Now comes the Plaintiff, U.S. Bank Trust, N.A., as Trustee for LSF10 Master Participation Trust, and the Defendants, Joanne T. O`Loughlin and James F. O`Loughlin III and Party-In-Interest Household Finance Corporation II, and hereby submits this Consent Judgment of Foreclosure and Sale.

         Count II - Breach of Note, Count III - Breach of Contract, Money Had and Received, Count IV - Quantum Meruit, and Count V - Unjust Enrichment, are hereby DISMISSED without prejudice at the request of the Plaintiff.

         JUDGMENT on Count I - Foreclosure, is hereby ENTERED as follows:

         1. If the Defendants or their heirs or assigns pay U.S. Bank Trust, N.A., as Trustee for LSF10 Master Participation Trust (“U.S. Bank”) the amount adjudged due and owing ($356, 832.89) within 90 days of the date of the Judgment, as that time period is calculated in accordance with 14 M.R.S.A. § 6322, U.S. Bank shall forthwith discharge the Mortgage and file a dismissal of this action on the ECF Docket.

         2. If the Defendants or their heirs or assigns do not pay U.S. Bank the amount adjudged due and owing ($356, 832.89) within 90 days of the Judgment, as that time period is calculated in accordance with 14 M.R.S.A. § 6322, their remaining rights to possession of the South Berwick Property shall terminate, U.S. Bank shall conduct a public sale of the South Berwick Property in accordance with 14 M.R.S.A. § 6323, disbursing the proceeds first to itself in the amount of $356, 832.89 after deducting the expenses of the sale, with any surplus to be disbursed pursuant to Paragraph 5 of this Judgment, and in accordance with 14 M.R.S.A. § 6324.

         3. Pursuant to 14 M.R.S.A. § 2401(3)(F), the Clerk shall sign a certification after the appeal period has expired, certifying that the applicable period has expired without action or that the final judgment has been entered following appeal.

         4. The amount due and owing is $356, 832.89.

         5. The priority of interests is as follows:

a) U.S. Bank Trust, N.A., as Trustee for LSF10 Master Participation Trust has first priority, in the amount of $356, 832.89, pursuant to the subject Note and Mortgage.
b) Household Finance Corporation II has the second priority behind the Plaintiff pursuant to a Mortgage dated March 13, 2007, in the amount of $11, 000.00, and recorded in the York County Registry of Deeds in Book 15112, page 964.
c) Joanne T. O`Loughlin and James F. O`Loughlin III have the third priority ...

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