Confidential
Settlement – $46,000Judge
Court
Riverside Superior
Attorneys
Plaintiff
Defendant
Facts
In 1989 a married couple purchased real property located in Defendant city, on which was located a house. The couple secured the purchase with a loan in the amount of $58,200 (property and dwelling valued at approximately $80,000) and moved into the house. On January 2, 1991, Plaintiff finance company became the successor-in-interest on the deed. On or about November 20, 1990, Defendant city advised the couple in the city's intent to declare the house a public nuisance. On November 28, 1990, the couple was ordered to vacate. On November 30, 1990, the Defendant city inspected the premises; on December 25, 1990, Defendant ordered the utility companies to turn off all utilities. On December 3, 1991, the Defendant city solicited bids for the demolition of the house; on January 31, 1992, the demolition was completed.
Settlement Discussions
Plaintiff contends they offered to settle the matter for $29,000 (and $39,000 with the vacant lot) in July of 1993; Defendant city rejected the offers; after April of 1992, Plaintiff demanded $50,000 and Defendant city offered $40,000.
Damages
$53,878 representing the promissory note, delinquency, trustee foreclosure fees, interest, attorneys' fees, and costs and minus the bid at the foreclosure sale (these interests and total were awarded at an arbitration in December of 1993.).
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