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U.S. Bank National Association v. Bon Carre' Business Center II, LLC

United States District Court, M.D. Louisiana

May 3, 2018

U.S. BANK NATIONAL ASSOCIATION
v.
BON CARRE' BUSINESS CENTER II, LLC.

          ORDER

          BRIAN A. JACKSON CHIEF JUDGE

         CONSIDERING THE FOREGOING Joint Motion for Entry of Consent Judgment (Doc. 8) filed by Plaintiff, U.S. Bank National Association, as Trustee for the registered holders of ML-CFC Commercial Mortgage Trust 2007-9, Commercial Mortgage Pass-Through Certificates, Series 2007-9 ("Plaintiff), acting by and through its Special Servicer, LNR Partners, LLC, and Defendant, Bon Carre' Business Center II, LLC ("Bon Carre");

         IT IS HEREBY ORDERED, ADJUDGED AND DECREED that the Joint Motion for Entry of Consent Judgment (Doc. 8) is hereby GRANTED;

         IT IS FURTHER ORDERED, ADJUDGED AND DECREED that a money judgment be and is hereby issued herein in favor of Plaintiff and against Bon Carre in the amount of $39, 478, 092.20, with interest continuing to accrue from December 1, 2017 until paid-in-full at the rates set forth on the Note, plus reasonable attorneys' fees, all costs of these proceedings, and all other reasonable costs incurred by Plaintiff in the collection thereof, all subject to the exculpation provisions of Section 17 of the Note identified in Paragraph 9 of the Complaint (Doc. 1);

         IT IS FURTHER ORDERED, ADJUDGED AND DECREED that Plaintiffs Multiple Indebtedness Mortgage, Assignment of Leases and Rents, and Security Agreement executed by Bon Carre on March 30, 2007, on that certain immovable property described as:

One (1) certain lot or parcel of ground situated in Sections 71 and 72, Township 7 South, Range 2 East, Greensburg Land District, Parish of East Baton Rouge, State of Louisiana, designated as TRACT "N-l-A-1-A" according to that map of subdivision entitled "Map Showing Subdivision of Tract "N-l-A-1" Being a Portion of the Bahlinger, Inc. Property into Tracts N-1-A-l-A, N-1-A-l-B, N-1-A-l-C and N-1-A-l-D, Located in Sections 71 & 72, T7S-R1E, G.L.D., East Baton Rouge Parish, Louisiana" prepared by C. Mistric Surveyors, Inc., Russel L. Mistric, RPL S, a copy of which map is recorded at Original 433, Bundle 11933, official records of East Baton Rouge Parish, Louisiana, being more particularly described as follows:
Commence at the point of intersection of the north right-of-way line of Florida Boulevard and the west right-of-way line of Lobdell Boulevard (which is also the Point of Commencement of Tract N-l-A-2); then proceed along the north right-of-way line of Florida Boulevard S 87°52'00" W a distance of 476.86 feet to a point, which is the POINT OF BEGINNING;
Then continue along the north right-of-way line of Florida Boulevard, S 87°52'00M W a distance of 170.01 feet to a point and corner; then proceed N 01°31'00" W a distance of 174.00 feet to a point and corner; then proceed S 87°52'00" W a distance of 316.00 feet to a point and corner; then proceed S 01°31'00" E a distance of 174.00 feet to a point and corner on the north right-of-way line of Florida Boulevard; then proceed along said north right-of-way line S 87°52'00" W a distance of 119.00 feet to a point and corner; then leaving said north right-of-way line proceed N 01°31'00" W a distance of 144.00 feet to a point and corner; then proceed S 87°52'00" W a distance of 193.00 feet to a point and corner; then proceed S 01°31'00" E a distance of 144.00 feet to a point and corner on the north right-of-way line of Florida Boulevard; then proceed along said north right-of-way line S 87°52'00" W a distance of 53.00' to a point and corner marked by a 1/2" iron pipe; then proceed N 01°31'00" W a distance of 1918.23 feet to a point and corner marked by a 1/2" iron pipe located on the south right-of-way line of Harry Drive; then proceed along the south right-of-way line of Harry Drive N 83D15'07" E a distance of 64.05 feet to a point marked by an "x-mark"; then continue along the south right-of-way line of Harry Drive along a curve to the left having a radius of 694.81 feet and a distance of 121.60 feet to a point marked by an "x"; then continue along the south right-of-way line of Harry Drive N 73°13'30" E a distance of 334.39 feet to a point marked by an "x"; then continue along the south right-of-way line of Harry Drive along a curve to the right having a radius of 676.20 feet and a distance of 172.80 feet to a point marked by an iron rod; then continue along the south right-of-way line of Harry Drive N 87°52'00" E a distance of 333.16 feet to a point marked by an iron rod and corner; then proceed S 01°31'00" E a distance of 1060.29 feet to a point and corner; then proceed S 88°29'00" W a distance of 10.72 feet to a point and corner; then proceed S 01°31'00" E a distance of 181.36 feet to a point; then proceed S 36°2219" W a distance of 45.91 feet to a point and corner marked by an "x" on a sidewalk; then proceed S 01°31'00" E a distance of 480.22 feet to a point and corner marked by an iron rod; then proceed S 88°47'40" W a distance of 97.59 feet to a point and corner; then proceed S 01°29'24" E a distance of 294.08 feet back to the POINT OF BEGINNING;
Being the same property as shown on that map of survey (the "Survey") entitled 'ALTA/ACSM Land Title Survey of Tract N-1-A-l-A Being a Portion of the Bahlinger, Inc. Property Located in Section 71 & 72, T7S-RlE, Greensburg Land District, Parish of East Baton Rouge, LA" by C. Mistric Surveyors, Inc., Russel L. Mistric, R P L S, dated March 21, 2007.

and that other certain property described as:

This financing statement covers all right, title and interest of the debtor described in the financing statement ("Debtor") in and to the following described property, together with all substitutions for and all replacements, reversions and remainders of such property and all appurtenances and additions thereto, whether now owned or hereafter acquired by Debtor (collectively, the "Property"):
(i) the land located in the Parish and State identified on Schedule 1 attached hereto, as more particularly described on such Schedule 1 (the "Land"), (ii) the Accounts, (iii) the Account Collateral, (iv) the Appurtenant Rights, (v) the Contracts, (vi) the Equipment, (vii) the Improvements, (viii) the Instruments, (ix) the Inventory, (x) the General Intangibles, (xi) the Leases, (xii) the Permits (to the fullest extent assignable), (xiii) the Rents, (xiv) the Proceeds, (xv) the Chattel Paper (including Electronic Chattel Paper and Tangible Chattel Paper), Commercial Tort Claims, Deposit Accounts, Documents, Goods, Investment Property, Letter of Credit Rights, Payment Intangibles and Supporting Obligations (as all such terms in this clause (xv) are defined in the UCC) and (xvi) any and all other rights of Debtor in and to the items set forth in clauses (i) through (xv) above, all whether now owned or hereafter acquired, and all other property which is or hereafter may become subject to a Lien in favor of the secured party described in the financing statement ("Secured Party") pursuant to any Loan Document.
For purposes of this financing Statement, all capitalized terms shall have the meaning ascribed thereto in the Loan Agreement or the Note, as applicable, unless defined below:
"Account Collateral" means the Reserve Accounts (as defined in the Loan Agreement), together with all cash, checks, drafts, certificates and instruments, if any, from time to time deposited or held in the Reserve Accounts, all interest, dividends, cash, instruments, investment property and other property from time to time received, receivable or ...

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