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PNC Bank, N.A. v. Irvin Family Limited Partnership

United States District Court, M.D. Louisiana

March 13, 2017

PNC BANK, N.A. Plaintiff,
v.
IRVIN FAMILY LIMITED PARTNERSHIP, A LOUISIANA PARTNERSHIP IN COMMENDAM, THE ESTATE OF MELVIN IRVIN, JR., VIEWPOINT DEVELOPMENT AND CONSTRUCTION COMPANY, ORLEANS PLACE SUBDIVISION, LLC, SORRENTO LUMBER CO., INC., and IBERVILLE BANK

          SEALE, SMITH, ZUBER & BARNETTE, LLP, Jessica W. Chapman JESSICA W. CHAPMAN, #31097 - T.A. WILLIAM C. KAUFMAN, III, #7657 -T.A. ATTORNEYS FOR PNC BANK, N.A.

          PHELPS DUNBAR LLP Allen C. Miller Allen C. Miller, (Bar #26423) Brandon E. Davis, (Bar #29823) ATTORNEYS FOR DEFENDANTS, IRVIN FAMILY LIMITED PARTNERSHIP, IRVIN & ASSOCIATES, INC., ESTATE OF MELVIN IRVIN, JR., VIEWPOINT DEVELOPMENT AND CONSTRUCTION COMPANY AND ORLEANS PLACE SUBDIVISION, L.L.C. AND EDGAR A. IRVIN, IN HIS CAPACITY AS THE INDEPENDENT ADMINISTRATOR FOR THE ESTATE OF MELVIN IRVIN, JR.

          MAGISTRATE JUDGE RICHARD BOURGEOIS, JR.

          CONSENT PARTIAL JUDGMENT

          JOHN W. DeGRAVELLES UNITED STATES DISTRICT COURT MIDDLE DISTRICT OF LOUISIANA JUDGE

         Upon considering (a) the consent motion of (i) plaintiff, PNC Bank, N.A. as the successor-in-interest to Red Mortgage Capital, Inc., who was the successor-in-interest to BMC Capital, LP (“PNC”), (ii) defendant, the Irvin Family Limited Partnership, a Louisiana Partnership in Commendam, (iii) defendant, the Estate of Melvin Irvin, Jr., represented through its duly appointed Independent Administrator, Edgar A. Irvin, and, (iv) defendant, Irvin & Associates, Inc. (collectively referred to as the “Irvin Defendants”) requesting that this Consent Partial Judgment be entered by this Honorable Court in the matter styled, PNC Bank, N.A. v. The Irvin Family Limited Partnership, et. al., Civil Action Number 14-766-JWD-RLB (the “Title Curative Case”), IT IS HEREBY ORDERED, ADJUDGED AND DECREED that with respect to each of the following instruments:

A. that certain Multiple Indebtedness Mortgage (the “PNC Mortgage”) dated August 29, 2007, that was granted by Irvin Family Limited Partnership in favor of PNC and recorded on September 5, 2007, at Instrument Number 00678553 in the mortgage records of Ascension Parish, Louisiana;
B. that certain Assignment of Leases and Rents (the “PNC Assignment”) dated August 29, 2007, that was granted by Irvin Family Limited Partnership in favor of PNC Bank, National Association, and recorded on September 5, 2007, at Instrument Number 00678554 in the mortgage records of the Ascension Parish Clerk of Court;
C. that certain Commercial Security Agreement (the “Security Agreement”) dated August 29, 2007, that was granted by Irvin Family Limited Partnership of favor of PNC Bank; and,
D. that certain Hazardous Substances Certificate and Indemnity (the “Certificate and Indemnity”) dated August 29, 2007, that was executed by Irvin Family Limited Partnership;

the legal description set forth on Exhibit “A” to each of the PNC Mortgage, PNC Assignment, Security Agreement, and Certificate and Indemnity is hereby amended, modified and re-stated to read as follows:

LOT 7-A
A CERTAIN TRACT OF LAND SITUATED IN THE PARISH OF ASCENSION IN THE SOUTHEAST QUARTER OF SECTION 28, T9S-R3E, SOUTHEASTERN DISTRICT OF LOUISIANA, BEING A RESUBDIVISION OF PORTIONS OF FRANCOIS PLAZA OFFICE CONDOMINIUMS PHASES 1, 2, AND 3 INCLUDING RELEASE PARCELS F-1, F-2, F-3, F-4, F-5, AND LOTS 5, 7, 8 AND 3-A INTO FRANCOIS PLAZA OFFICE CONDOMINIUMS CONSISTING OF LOT 7-A AND LOT 3 AS SHOWN ON A PLAN OF
RESUBDIVISION BY DADING, MARQUES & ASSOCIATES, LLC DATED 1-24-2017, AND RECORDED ON FEBRUARY 27, 2017, AT INSTRUMENT NUMBER 00918111 IN THE CONVEYANCE RECORDS OF THE ASCENSION PARISH CLERK OF COURT, AND BEING MORE FULLY DESCRIBED AS FOLLOWS:
COMMENCING AT A POINT ON THE NORTH RIGHT OF WAY LINE OF EAST WORTHY ROAD AND THE EAST RIGHT OF WAY LINE OF SOUTH NICKENS AVENUE (FORMERLY BONNIE LANE) AND MEASURE N 0° 25' 57” E ALONG SAID EAST RIGHT OF WAY LINE A DISTANCE OF 160.0' TO THE POINT OF BEGINNING; THENCE CONTINUE ALONG SAID EAST RIGHT OF WAY LINE N 0° 25' 57” E A DISTANCE OF 189.98'; THENCE LEAVING SAID EAST RIGHT OF WAY LINE MEASURE S 89° 26' 09” E A DISTANCE OF 228'; THENCE MEASURE N 0° 25' 57” E A DISTANCE OF 58.76'; THENCE MEASURE S 89° 34' 03” E A DISTANCE OF 99.11'; THENCE MEASURE N 0° 25' 57” E A DISTANCE OF 27.51'; THENCE MEASURE N 89° 16' 56” E A DISTANCE OF 12.83'; THENCE MEASURE N 03° 21' 15” E A DISTANCE OF 85.96'; THENCE MEASURE S 81° 15' 00” E A DISTANCE OF 5.74'; THENCE MEASURE N 0° 22' 11” E A DISTANCE OF 126.03'; THENCE MEASURE N 89° 16' 56” E A DISTANCE OF 108.36'; THENCE MEASURE S 1° 52' 20” W A DISTANCE OF 640.53' TO A POINT ON THE NORTH RIGHT OF WAY LINE OF EAST WORTHY ROAD; THENCE ALONG SAID NORTH RIGHT OF WAY LINE MEASURE S ...

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