MARK A. GOLDSMITH, District Judge.
Plaintiff Bank of America, N.A. ("Bank of America") filed this lawsuit against Defendants Quality Construction Company LLC ("Quality Construction"), Quality Property Management, LLC ("Quality Property"), and Sam Bazzi ("Bazzi"), alleging that Defendants breached various loan and guaranty agreements executed in favor of Bank of America. Defendants were served, and filed an answer to Bank of America's complaint (Dkt. 12). Bank of America subsequently filed a motion for summary judgment (Dkt. 21), and Defendants, both individually and collectively, failed to file a response. As discussed below, summary judgment in favor of Plaintiff is appropriate; therefore the Court grants Plaintiff's motion.
On July 29, 2009, Quality Construction received a loan from Bank of America. That same day, both Quality Property and Bazzi secured repayment of Quality Construction's debt obligations by executing a continuing and unlimited guaranty in favor of Bank of America. Quality Construction's loan agreement was subsequently amended by two loan modifications, executed March 29, 2013 and October 8, 2014. Also on March 29, 2013, Quality Property entered into a loan agreement with Bank of America. Bazzi secured repayment of that loan by entering into a continuing and unlimited guaranty in favor of Bank of America. Quality Property's loan, too, was modified on October 8, 2014. The modified terms of both Quality Construction's and Quality Property's loan agreements set forth a maturity date of February 14, 2015, at which point the full amount covered by the agreements was owed. On March 19, 2015, Bank of America demanded payment from the borrowers and their guarantors. Payment was not forthcoming.
A "court shall grant summary judgment if the movant shows that there is no genuine dispute as to any material fact and the movant is entitled to judgment as a matter of law." Fed. R. Civ. P. 56(a). In evaluating the evidence, courts draw all inferences in favor of the nonmoving party.
The facts, as set forth by Bank of America, appear to be straightforward and undisputed. In failing to respond to the motion, Defendants have not offered any facts that would preclude judgment in favor of Bank of America. Nonetheless, where a motion for summary judgment is unopposed, courts must still "intelligently and carefully review the legitimacy of such an unresponded-to motion," and, in particular, flag any factual assertions that are either misstated or taken out of context.
Where the terms of a contract are unambiguous, courts must enforce those terms as written.
Similarly, the guaranties state that the guarantor "unconditionally guarantees and promises to pay promptly to Bank of America ... any and all Indebtedness of [Quality Construction] to Bank [of America] when due, whether at stated maturity, upon acceleration or otherwise, and at all times thereafter." Quality Property Guaranty for Quality Construction Loan, Ex. C to Pl. Mot., at 2 of 9 (cm/ecf page) (Dkt. 21-4); Bazzi Guaranty for Quality Construction Loan, Ex. F to Am. Compl., at 2 of 12 (cm/ecf page) (Dkt. 6-7).
The terms of the contracts, as summarized above and as contained in the loan agreements and guaranties, are not ambiguous. There is also no dispute that Defendants have failed to repay the loans in accordance with those terms. Accordingly, Bank of America is entitled to summary judgment against Defendants Quality Construction, Quality Property, and Bazzi, jointly and severally, for the amounts owed under Quality Construction's loan agreement, as amended by the October modification,
For the aforementioned reasons, Plaintiff's motion for summary judgment (Dkt. 21) is granted. Bank of America shall submit a proposed judgment on or before November 23, 2015.
SO ORDERED.