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California Bank & Trust v. DelPonti

California Court of Appeals, Fourth District, Second Division

December 9, 2014

CALIFORNIA BANK & TRUST, Plaintiff and Appellant,
v.
THOMAS DELPONTI et al., Defendants and Respondents ADVENT, INC., Plaintiff and Appellant,
v.
CALFORNIA BANK & TRUST, Defendant, Cross-complainant and Appellant; THOMAS DELPONTI et al., Cross-defendants and Respondents

[CERTIFIED FOR PARTIAL PUBLICATION[*]]

APPEAL from the Superior Court of San Bernardino County. Nos. CIVSS808384, CIVSS811307 Frank Gafkowski, Judge.

Page 163

[Copyrighted Material Omitted]

Page 164

COUNSEL

Troutman Sanders, Dan E. Chambers, Amy A. Hoff and Thomas H. Prouty for Plaintiff and Appellant and Defendant, Cross-complainant and Appellant California Bank & Trust.

Edward M. Picozzi and Treg A. Julander for Plaintiff and Appellant Advent, Inc.

Law Offices of Michael J. Buley, Michael J. Buley and Ursula McDonnell for Defendant and Respondent and Cross-defendant and Respondent David Wood.

No appearance for Defendant and Respondent and Cross-defendant and Respondent Thomas Del Ponti.

OPINION

RAMIREZ P. J.

Five Corners Rialto, LLC (Five Corners), obtained a construction loan from Vineyard Bank (Bank) to develop a 70-unit townhome project (Project), with guaranties from Thomas DelPonti and David Wood, principals of Five Corners (Guarantors). Five Corners contracted with Advent, Inc. (Advent), a general contractor, to build the project in two phases. Everything went according to schedule for the first 18 months. However, when Phase I of the Project was nearly complete, the Bank stopped

Page 165

funding approved payment applications, preventing completion and sale of the Phase I units, which, in turn, caused Five ...


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