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HOME BUILDERS FINANCE v. UNDERHILL

United States District Court, W.D. Pennsylvania


November 7, 2005.

HOME BUILDERS FINANCE, Plaintiff,
v.
RICHARD UNDERHILL, et al., Defendants.

The opinion of the court was delivered by: DONETTA AMBROSE, District Judge

ORDER OF COURT

AND NOW, this 7th day of November, 2005, the court has been advised by counsel for the parties that the above-captioned action has settled under the following terms:

1. The "Richard Underhill Defendants"*fn1 will pay to Plaintiff Home Builders Finance, the sum of $200,000.00 in full by January 16, 2006;
2. If payment is not made in full by January 16, 2006, Plaintiff is permitted to enter judgment in the amount of $275,000.00 against the Richard Underhill Defendants;
3. Plaintiff is to transfer title of Lot # 8 of the Birch Ridge Village to the Richard Underhill Defendants within five (5) days of payment in full;
4. The Richard Underhill Defendants agree not to sell any property prior to payment in full without first notifying and obtaining the consent of Plaintiff;
5. Plaintiff agrees to cooperate with respect to any and all liens it holds on property which the Richard Underhill Defendants wish to sell in order to satisfy the settlement amount;
6. Plaintiff agrees the satisfaction of the Richard Underhill Defendants' obligations set forth herein will satisfy any default judgment entered against Defendant Anthony Jacob;
7. Plaintiff agrees to take steps to resolve any outstanding litigation against the Richard Underhill Defendants which is pending in the Courts of Common Pleas of Washington County, Pennsylvania;
8. Plaintiff agrees to dismiss, with prejudice, all claims asserted against Defendant William Somplatsky, and William Somplatsky agrees to dismiss, with prejudice, all counterclaims asserted against the co-Defendants;
9. The parties are to prepare and tender to the Court a settlement agreement and consent decree.
10. This case is to be administratively closed, but any party can petition to re-open the case for good cause shown on or before January 31, 2006.
It is, accordingly, ORDERED that the above-captioned action is hereby DISMISSED with prejudice pursuant to Fed.R.Civ.P. 41(a)(2).

20051107

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