California Court of Appeals, Fourth District, Second Division
[CERTIFIED FOR PARTIAL PUBLICATION[*]]
APPEAL from the Superior Court of San Bernardino County. Nos. CIVSS808384, CIVSS811307 Frank Gafkowski, Judge.
[Copyrighted Material Omitted]
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.
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
funding approved payment applications, preventing completion and sale of the Phase I units, which, in turn, caused Five ...