JUDGMENT BY CONFESSION

JENNIFER A. DORSEY, District Judge.

Pursuant to the express Stipulation and Consent for Entry of Judgment by Confession ("Stipulation"), it is hereby ORDERED, ADJUDGED AND DECREED that:

1. This Court has jurisdiction of this case and venue is proper pursuant to Section 301(a) of the Labor-Management Relations Act of 1947 ("LMRA"), as amended [29 U.S.C. § 185(a)] and Sections 502(a)(3) and 502(e)(2) of the Employee Retirement Income Security Act of 1974 ("ERISA"), as amended [29 U.S.C. §§ 1132(a)(3) & 1132(e)(2)]. Pursuant to 28 U.S.C. § 1367 this Court has ancillary jurisdiction over any secondary causes of action.

2. The Plaintiff Trusts are express trusts created pursuant to written declarations of trust, consistent with Section 302(c) of the LMRA, as amended [29 U.S.C. § 186(c)], and bring this action in accordance with Sections 502(d)(1), 502(a)(3) and 515 of ERISA, as amended [29 U.S.C. § 1001, et seq.]. The Trusts maintain offices in Nevada for the purpose of administering benefits.

3. At all times material herein, the International Union of Painters and Allied Trades, District Council 16 ("Union") has been a labor organization representing employees in the construction industry in Northern Nevada. The Union is a labor organization representing employees in an industry affecting commerce within the meaning of Section 301(a) of the LMRA, as amended [29 U.S.C. § 185(a)].

3. The above-named Plaintiff Trust Funds (hereinafter "Plaintiffs" or "Trusts") shall take Judgment by Confession ("Judgment") against Defendants OLYMPUS AND ASSOCIATES, INC. dba OLYMPUS PAINTING & SANDBLASTING (hereinafter "Olympus"), a Nevada corporation and LAZARUS G. TSIOPOS (hereinafter "Mr. Tsiopos"), an individual (collectively "Defendants"), for the sum of One Hundred Eight Thousand Two Hundred Sixty-One and 25/100 Dollars ($108,261.25), which sum includes all known fringe benefit contributions owed to the Trusts for work performed in Northern Nevada during the period of July 1, 2014 through August 31, 2015 ("Delinquency Period"), plus pre-judgment interest, liquidated damages, attorney's fees, and costs, and an Audit claim for the period January 1, 2011, through September 30, 2014. Interest shall accrue on the Judgment Amount, less any payments received, at the rate of seven percent (7%) per annum until paid in full.

4. The Judgment Amount shall be paid to Plaintiffs as third party beneficiaries under the terms of the various Trust Agreements creating the Trusts, which are incorporated into a written collective bargaining agreement ("Labor Agreement") between Olympus and the Union.

5. Mr. Tsiopos, as an individual and authorized representative of Olympus, has participated in the negotiating of the Labor Agreement, has knowledge of the Judgment Amount and has agreed to be personally and separately liable for the Judgment Amount and for compliance with the terms and conditions as set forth below

6. This Judgment includes settlement of all known claims by Plaintiffs for fringe benefit contributions and damages owed to the Trusts for the Delinquency Period for work performed in Northern Nevada under the jurisdiction of Olympus' Labor Agreement with the Union. It does not include as work performed as "out of area work" under the jurisdiction of IUPAT District Council 16 in Southern Nevada. Defendants acknowledge that the Trusts have not audited Olympus' payroll records for the Delinquency Period of October 1, 2014 through the present. This Judgment is not intended to, and it does not, resolve, address or secure claims that are as yet unknown to the Trusts, including any claims that may later be revealed by Audit for the Delinquency Period of October 1, 2014 through the present or any other period that has not been audited. The Trusts reserve all audit rights for periods that have not been audited. Additionally, Olympus agrees to submit to an audit for the period of October 1, 2014 through the present, including the areas of both Northern and Southern Nevada.

7. The Judgment Amount, including interest on the declining Judgment balance and any after-accruing amounts, shall be paid by Olympus through a total of twelve (12) monthly payments to the Trusts. Payments One (I) through Eleven (II) shall be paid in the amount of Nine Thousand Three Hundred Forty and 00/100 Dollars ($9,340.00) per month, commencing on October 1, 2015 and continuing on or before the first (1st) day of each month thereafter. Payment Twelve (12) shall be paid in the amount of Nine Thousand Three Hundred Nineteen and 99/100 Dollars ($9,319.99) on or before September 1, 2016. Interest shall accrue at seven percent (7%) per annum. Subject only to the Defendants' right to cure as set forth herein, the Final Payment of all unpaid portions of the Judgment Amount, shall be increased to include any late fees and after-accruing attorney's fees and costs incurred by Plaintiffs relating to this Judgment for collection of the amounts referenced herein.

8. The payments toward the Judgment Amount required herein shall be made payable to "Painters Joint Trust Funds" and shall be remitted to Plaintiffs' attorney, Christensen James & Martin, at 7440 W. Sahara Ave., Las Vegas, NV 89117, or at such other location as the Defendants are notified in writing. Should any of Defendants' payments be returned for insufficient funds, all subsequent payments shall be made using cashier's checks or money orders.

9. As security for this Judgment, Olympus shall assign one or more of its contract receivables to the Plaintiffs in a total amount equal the Judgment Amount by executing one or more Assignment of Contract Proceeds attached hereto as Exhibit 1 ("Assignments"). The Assignments are incorporated herein by reference.

10. In addition to paying the Judgment Amount as required by the foregoing terms, the Defendants shall timely pay all contributions that fall due while any portion of the Judgment Amount remains unpaid (i.e., for hours worked by Defendant's covered employees while the Judgment Amount is being paid). The Defendants shall remit a monthly report to the Trusts listing hours worked by their covered employees, and shall submit a check to the Trusts to pay contributions owed for such hours. The reports and payments shall be delivered to the Plaintiffs or their designee(s) on or before the 15th day of the month following the calendar month in which the covered hours of work listed on the reports are performed.

11. The Defendants shall have the right at any time to prepay the entire balance owed, or any portion thereof, without incurring a prepayment penalty. However, interest will continue to accrue on any amount that remains unpaid.

12. During the period that the Defendants timely makes the required payments and faithfully performs under this Judgment, the Plaintiffs shall stay claims against Bond No. 2131356 issued to Olympus by Western Surety Company for Olympus' C-4 Contractor License ("Bond").

13. Should Defendants fail to satisfy any of the conditions in this Judgment, a written Notice of Default shall immediately be delivered to: Olympus Painting & Sandblasting, Attn: Lyndsey Tsiopos, 405 Lovitt Lane, Reno, Nevada 89506 and gtsiopos@aol.com. Each such Notice required to be sent shall result in an automatic late fee and collection charge of $150.00 (which will be applied as a credit against any attorney's fees and costs incurred as a result of the Default) to be paid in addition to any payment that Defendant has failed to pay and shall be paid immediately with the cure payment. If Defendant thereafter fails to make the required payment(s) or otherwise fails to comply with the conditions of such paragraphs within ten (10) days of the date of such Notice, then:

14. Filing and execution on the Stipulation and this Judgment shall be stayed through September 1, 2016, provided that payment in full is made by Defendants in accordance with the terms of this Judgment.

15. Upon Plaintiffs' receipt and negotiation of payment of the entire Judgment Amount, this obligation will have been satisfied and, upon receipt of a request therefor, Plaintiffs shall deliver to Defendants a written Satisfaction of Judgment. A Satisfaction of Judgment shall not be executed nor delivered until all of Defendants' obligations under this Judgment have been fully performed.

16. The following potential claims are reserved by the Trusts: (i) any claims unrelated to the Judgment Amount, accruing before or after the effective date of this Judgment, including, without limitation, claims by any of the Trusts for additional contributions and related damages that may be due and owing to any of the Trusts pursuant to the provisions of any collective bargaining agreement to which Defendant may be bound that requires the payment of contributions to the Trusts; (ii) the obligation of Defendants or any trade or business under common control of Defendants (to the extent Defendants or any trade or business under common control with Defendants has any obligation) to pay, and the rights of the Trusts to assess and collect, withdrawal liability pursuant to 29 U.S.C. § 1381 et. seq. (including the use of Defendants' contribution history for purposes of calculating any withdrawal liability); and (iii) any additional claims discovered by audit for any period.

17. The Stipulation and this Judgment shall be considered one instrument and shall become binding when signed. Signatures to the Stipulation and Judgment, as provided via facsimile or scanned document, shall be valid and shall be deemed the equivalent of original signatures.

18. Defendants have had the opportunity to consult an attorney of their choice and fully understand the obligations and consequences of this Judgment.