The opinion of the court was delivered by: JAMES LARSON, Magistrate Judge
JUDGMENT PURSUANT TO STIPULATION
IT IS HEREBY STIPULATED by and between the parties hereto, that
Judgment in the within action may be entered in favor of the plaintiffs
and against defendant Campbell Glass, as follows:
1. Defendant entered into a valid collective bargaining agreement with
the District Council 16 of the International Union of Painters and Allied
Trades (hereinafter "Bargaining Agreement"). This Bargaining Agreement
has continued in full force and effect to the present time.
2. Pursuant to the Bargaining Agreement and the Trust Agreements of
Plaintiff Funds as amended, which are incorporated into the Bargaining
Agreement, defendant is indebted to plaintiffs in the sum of $99,460.68
representing employee benefit contributions found on an audit of the
period July 1, 1999 through October 31, 2002, to be due and owing under
the terms of the Bargaining Agreement, as follows:
Net Contributions $78,011.67 Interest
$11,260.51 Liquidated Damages $750.00 Audit
$2,449.00 Attorney's Fees to 1/31/04 $6,488.50 Costs of Suit
$501.00 TOTAL $99,460.68
3. Based on defendant's assertion and provision of documents in support
of defendant's inability to pay all amounts due, plaintiffs' have agreed
to accept payment of $25,000 in full satisfaction of the amount found due
as referenced above. Defendant shall pay the sum of $25,000 in full no
later than June 1, 2004.
4. Defendant has represented that he is pursuing home refinancing as
the source of funds to resolve this action. Defendant warrants that his
equity in such property exceeds the $25,000 to be paid hereunder, plus
reasonable amounts to cover his closing costs. Defendant shall provide
plaintiffs with a report of the refinancing status on the 15th of each
month beginning April 15, 2004 until this judgment is satisfied.
5. Plaintiffs will record, an Abstract of this Judgment in the amount
of $99,460.68, but plaintiffs' demand for full satisfaction on closing of
defendant's escrow shall be the agreed $25,000.00.
6. In the event that payment of settlement in full is not received from
defendant by June 1, 2004, as required under Paragraph 3 above, then:
(A) The entire balance of $99,460.68, less any principal payments
received by Plaintiffs, shall be immediately due, together with any
additional attorneys' fees and costs under section (d) below. (B) A writ of execution may be obtained against Defendant without
further legal action, in the full amount of the unpaid balance of the
judgment, plus any additional amounts under the terms herein, upon
declaration of a duly authorized representative of the plaintiff's
setting forth any payment theretofore made by or on behalf of defendant
and the balance due and owing as of the date of default.
(C) Defendant waives notice of entry of judgment and expressly waives
all rights to stay of execution and appeal. Judgment may be entered by a
magistrate or a judge without the necessity of a noticed motion.
(D) Defendant shall pay all additional costs and attorneys' fees
incurred by plaintiffs from February 1, 2004 until satisfaction in
connection with collection of the amounts owed by defendant to plaintiffs
under this Stipulation.
7. Any failure on the part of the plaintiffs to take any action against
defendant as provided herein in the event of any breach of the provisions
of this Stipulation shall not be deemed a waiver of any subsequent breach
by the defendant of any provisions herein. 8. Plaintiffs specifically reserve all rights to bring a subsequent
action against defendant for the collection of any additional
contribution delinquencies found to be due for the hours worked during
the periods preceding the date of this Stipulation. Defendant
specifically waives the defense of the doctrine of res judicata in any