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CREATIVE VENTURES, LLC v. JIM WARD & ASSOCIATES, A CALIFORNIA CORP.

No. H034883.

195 Cal.App.4th 1430 (2011)

CREATIVE VENTURES, LLC, et al., Plaintiffs and Appellants, v. JIM WARD & ASSOCIATES, A CALIFORNIA CORPORATION, Defendant and Appellant; MAHMUD ASSAR et al., Defendants and Respondents.

Court of Appeals of California, Sixth District.

May 31, 2011.

Attorney(s) appearing for the Case

Crist, Biorn, Shepherd & Roskoph, Kristofer W. Biorn , Jay C. Patterson for Plaintiff and Appellant Creative Ventures LLC.

Miller Starr & Regalia and David E. Harris for Plaintiff and Appellant Arden 2002 LLC.

Law Offices of David M. McKim and David M. McKim for Defendant and Appellant.

Law Offices of Desmond B. Tuck and Desmond B. Tuck for Defendants and Respondents.

OPINION

PREMO, J.—

Plaintiffs Creative Ventures, LLC (Creative), and Arden 2002, LLC (Arden), borrowed nearly $3 million from defendant Jim Ward & Associates (JWA), a California Corporation, to finance two real property development projects. The loans were evidenced by four promissory notes secured by deeds of trust on the real property. Each of the notes called for interest payments in excess of the maximum permitted by the California...

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