CLARK TOWER, LLC v. WELLS FARGO BANK, N.A.

10595N. 651319/19.

178 A.D.3d 547 (2019)

114 N.Y.S.3d 339

2019 NY Slip Op 08975

Clark Tower, LLC, Respondent, v. Wells Fargo Bank, N.A., et al., Appellants, et al., Defendant.

Appellate Division of the Supreme Court of New York, First Department.

Decided December 17, 2019.


Attorney(s) appearing for the Case

Jenner & Block LLP, New York ( Stephen L. Ascher of counsel), for appellants.

Frydman LLC, New York ( David S. Frydman of counsel), for respondent.

Concur—Gische, J.P., Mazzarelli, Singh, Moulton, JJ.


Plaintiff financed its purchase of the property in 2007 with a note secured by a deed of trust. In 2015, plaintiff and defendant trustee entered into a loan modification agreement (LMA) that, inter alia, bifurcated the original loan and allowed Note B to be forgiven if a subsequent sale or refinancing was insufficient to pay the principal and interest thereon. The LMA is governed by Tennessee law but requires plaintiff to submit to the jurisdiction of the courts of this State...

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