U.S. BANK NATIONAL ASSOC. v. RBP REALTY

A16-0073 A16-0258.

888 N.W.2d 699 (2016)

U.S. BANK NATIONAL ASSOCIATION, as trustee, successor-in-interest to Bank of America, N.A., as trustee, successor to Wells Fargo Bank, N.A., as trustee for the Registered Holders of Wachovia Bank Commercial Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2007-C30, acting by and through its special servicer CWCapital Asset Management, LLC, Respondent (A16-0073), Appellant (A16-0258), v. RBP REALTY, LLC, Appellant (A16-0073), Respondent (A16-0258).

Court of Appeals of Minnesota.

Filed December 27, 2016.


Attorney(s) appearing for the Case

Thomas F. De Vincke , Kathleen M. Martin , Patrick B. Steinhoff , Malkerson Gunn Martin LLP, Minneapolis, Minnesota (for U.S. Bank National Association).

Edward P. Sheu , Bradley F. Williams , Best & Flanagan LLP, Minneapolis, Minnesota (for RBP Realty, LLC).

Considered and decided by Reilly, Presiding Judge; Halbrooks, Judge; and Johnson, Judge.


OPINION

A company borrowed $7,500,000 and executed a mortgage on commercial real property in favor of the lender. The company later defaulted on the loan. After the default, the borrower and the lender entered into a written pre-negotiation agreement, in which the borrower agreed to, among other things, waive its statutory...

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