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U.S. Bank Trust, N.A. v. Geno

United States District Court, D. Maine

July 15, 2019

U.S. Bank Trust, N.A., as Trustee for LSF10 Master Participation Trust Plaintiff
v.
Donna T. Geno and Stephen S. Geno Defendants Trademark Federal Credit Union f/k/a Hannaford Associates Federal Credit Union Party-in-Interest

          JUDGMENT OF FORECLOSURE AND SALE

          JON D. LEVY CHIEF U.S. DISTRICT JUDGE

         This matter came before the Court for a testimonial hearing on Plaintiff's Motion for Default Judgment on July 2, 2019. Plaintiff, U.S. Bank Trust, N.A., as Trustee for LSF10 Master Participation Trust, was present and represented by John A. Doonan, Esq. Defendants Donna T. Geno, Stephen S. Geno, and Camden National Bank f/k/a First Citizens Bank did not appear.

         All persons interested having been duly notified in accordance with the law, and after hearing, the Plaintiff's Motion for Default Judgment is GRANTED. On oral motion by the Plaintiff, Camden National Bank f/k/a First Citizens Bank is dismissed from this action since the subject Writ of Execution has been discharged. 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 ($118, 940.42) 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. The following is a breakdown of the amount due and owing:

Description

Amount

Unpaid Principal Balance

$81, 204.21

Escrow Balance

$5, 189.94

Total Interest

$12, 546.34

Corporate Advances

$19, 716.81

Late Charge

$283.12

Grand Total

$118, 940.42

         2. If the Defendants or their heirs or assigns do not pay U.S. Bank the amount adjudged due and owing ($118, 940.42) 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 Lee Property shall terminate, U.S. Bank shall conduct a public sale of the Lee Property in accordance with 14 M.R.S.A. § 6323, disbursing the proceeds first to itself in the amount of $81, 204.21 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. U.S. Bank may not seek a deficiency judgment against the Defendants pursuant to the Defendants' bankruptcy filing (#16-10614).

         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 $118, 940.42 as of July 2, 2019.

         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 $118, 940.42, pursuant to the subject Note and Mortgage
b.) Trademark Federal Credit Union f/k/a Hannaford Associates Federal Credit Union has the second priority behind the Plaintiff pursuant to a Mortgage dated June 9, 2010, in the amount of $6, 854.50 as of June 10, 2019, and recorded in the Penobscot County Registry of Deeds in Book 12187, Page 216.
c.) Donna T. Geno and Stephen S. Geno have the third priority behind the Plaintiff.

         6. The prejudgment interest rate is 4.75000%, see 14 M.R.S.A. § 1602-B, and the post-judgment interest rate is 8.59%, see 14 M.R.S.A. § 1602-C.

         7. The following information is included in this Judgment pursuant ...


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