Borrower may pursue breach of contract and related claims against bank in construction loan dispute after bank purchased loan commitments from failed bank.
Cite as
2013 DJDAR 2994Published
Mar. 8, 2013Filing Date
Mar. 7, 2013SCOTT CALL JOLLEY,
Plaintiff and Appellant,
v.
CHASE HOME FINANCE, LLC, et al.,
Defendants and Respondents.
No. A134019
(Marin County
Super. Ct. No. CIV1002039)
California Courts of Appeal
First Appellate District
Division Two
Filed March 7, 2013
ORDER MODIFYING OPINION
AND DENYING REHEARING
[NO CHANGE IN JUDGMENT]
THE COURT:
It is ordered that the published opinion filed herein on February 11, 2013, be modified as follows:
1. At the top of page 6, first line, the sentence that reads, ?Jolley further testified that as a result of these representations he was induced to complete construction at a cost of $100,000, borrowing from family and friends to do so? shall be deleted and replaced with the following sentence:
Jolley further testified that as a result of these representations he was induced to ?borrow heavily to finish the project.?
2. On page 29, second full paragraph, first line, the sentence that reads, ?He invested $100,000 in finishing construction on the property shortly before foreclosure proceedings were initiated? shall be deleted and replaced with the following sentence:
He invested funds borrowed from other sources in finishing construction on the property shortly before foreclosure proceedings were initiated.
3. On page 29, second full paragraph, the last sentence that reads, ?Had Jolley known that Chase would ultimately foreclose on the property, he would have had no incentive to invest an additional $100,000 in its completion? shall be deleted. No new sentence is required.
There is no change in the judgment.
Respondent?s petition for rehearing is denied.
Trial Court:
Marin County Superior Court
Trial Judge:
Honorable Lynne Duryee
Attorney for Plaintiff and Appellant:
Law Offices of Vernon Bradley, Vernon Bradley
Attorneys for Defendants and Respondents:
Law Offices of Sohnen & Kelly, Harvey Sohnen, Patricia M. Kelly
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