United States District Court, D. Maine
U.S. Bank Trust, N.A., as Trustee for LSF10 Master Participation Trust Plaintiff
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
LEVY CHIEF U.S. DISTRICT JUDGE
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
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
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:
Unpaid Principal Balance
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).
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
amount due and owing is $118, 940.42 as of July 2, 2019.
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.
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.
following information is included in this Judgment pursuant