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15-518 - U.S. Bank Trust, N.A. v. Michael P. Sullivan et al


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15-518 - U.S. Bank Trust, N.A. v. Michael P. Sullivan et al
August 1, 2016
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DECISION AND ORDER granting #13 Motion for Default Judgment. Clerk of the Court is directed to enter a Judgment in Plaintiff's favor against Defendants in the total amount of $160,533.35 plus interest at the judgment rate from the date of entry of this Judgment until the date of transfer of the Referee's Deed. It is ORDERED that the mortgaged property at 17 Manchester Drive, Clifton Park, New York 12065 shall be sold in "as is" condition, at public auction to the highest bidder pursuant to NY RPAPL §1351. In accordance with NY RPAPL § 1353(1), Plaintiff or any other parties to this action may become the Purchaser or Purchasers at such sale, and at the time of sale, the Referee may accept a written bid from Plaintiff or Plaintiff's attorneys, just as though Plaintiff were physically present to submit the bid. After the sale, the Referee shall deposit, in her name as Referee, the initial bid deposit in her IOLA account, in a bank or trust company authorized to transact business in New York. This account shall be used solely to complete the closing of the sale and payment of the items referenced herein as needed. In accordance with NY RPAPL § 1353(1), upon payment of the purchase price, the Referee shall execute a deed to the Purchaser. Upon payment of the purchase price, the Referee shall make the following payments or allowances from the sale proceeds: (1) $500.00 to the Referee;(2) Payment for costs of advertising or posting of property to be sold; (3) Payment to Plaintiff or its attorney for (a) Amount Due Plaintiff in the amount of One$154,955.15 plus interest at the judgment rate from the date of entry of this Judgment until the date of transfer of the Referees Deed; (b) $2,078.20 for costs and disbursements with interest as the judgment rate thereon from the date of entry hereof; and (c) $3,500.00 for attorneys' fees with legal interest from the date of entry of judgment hereof; (4) Payment of all taxes, assessments and water rates that are liens upon the property; and (5) Payment of any other necessary advances for inspections and maintenance of the property, taxes, insurance premiums or other advances necessary to preserve the property. Signed by Chief Judge Glenn T. Suddaby on 8/1/16. (lmw)