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Our aim is to provide pertinent information succinctly as a roadmap to the LEAN E-mail Blasts, not to replace the LEAN E-mail Blasts. The complete February 28, 2013 LEAN Blast can be found online.

Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this quick synopsis of the latest LEAN update.

Liquidated damages are damages that the parties to a contract specify will have to be paid in the event of a breach.

For example, if Ann and John make a contract to do business, one provision of that contract may stipulate that if either of the two breaches the contract and doesn't fulfill the promise, that person will have to pay the other

Our aim is to provide pertinent information succinctly as a roadmap to the LEAN E-mail Blasts, not to replace the LEAN E-mail Blasts. The complete February 28, 2013 LEAN Blast can be found online.

Our aim is to provide pertinent information succinctly as a roadmap to the LEAN E-mail Blasts, not to replace the LEAN E-mail Blasts. The complete February 28, 2013 LEAN Blast can be found online.

Department of Housing and Urban Development (HUD) LEAN E-mail Blasts that we receive, and rarely have time to review in a timely fashion, we at Pepper are providing this quick synopsis of the latest LEAN update.

Liquidated damages are damages that the parties to a contract specify will have to be paid in the event of a breach.

For example, if Ann and John make a contract to do business, one provision of that contract may stipulate that if either of the two breaches the contract and doesn't fulfill the promise, that person will have to pay the other $1,000.

LEAN’s 232 debt seasoning periods are imposed when an identity of interest, of any degree, exists between the borrower and lender on the loan that is to be refinanced, or between a seller, purchaser or borrower, including any affiliates of any such entities.

Angelillo ("Angelillo Aff.") [DE 163-1], with exhibits annexed [DE 163, Exs. The Court has considered all of the submissions, the applicable case law, and the positions asserted by counsel during oral argument on the motion. After commencing work on the Project, Howell discovered and informed Plaintiffs of certain items of work which were not properly completed by IDI (the "non-conforming work"). Plaintiffs paid more than million to Howell to perform the corrective work (i.e., the work needed to fix the non-conforming work done by IDI). The Payton Lane Nursing Home was built pursuant to Section 232 of the National Housing Act (the "Section 232 Program"), which was passed by Congress "to assist in the provision of facilities for [inter alia] .

For the reasons set forth below, Plaintiffs' Motion for Partial Summary Judgment is DENIED. The Takeover Agreement provided that the "Sureties shall complete the work required as set forth on Exhibit A pursuant to this Agreement on or before March 15, 2005 (the "Revised Completion Date")damages suffered by and dispute related expenses incurred by Payton Lane, in consideration for an assignment of all claims Payton Lane has against Sureties under the Bonds for damages of any kind, except for claims relating to latent construction defects, if any, from the commencement of the Project up to and existing as of the date of the execution of this Agreement (the "Pre-Takeover Claim") . Pls.' 56.1 Stmt., ¶ 12 Although the Revised Completion Date as set forth in the Takeover Agreement was March 15, 2005, Payton Lane did not obtain a certificate of occupancy until February 17, 2006.

Schreckinger, Gogick, Byrne & O'Neill, LLP, New York, NY, Jeffrey G. In support of their motion, Plaintiffs American Manufacturers Mutual Insurance Company and American Motorists Insurance Company ("Plaintiffs" or "Sureties") rely upon their Local Rule 56.1 Statement of Undisputed Facts ("Pls.' 56.1 Stmt.") [DE 162-1]; Memorandum of Law in Support of Plaintiffs' Motion for Partial Summary Judgment ("Pls.' Mem.") [DE 162-23]; and the Affidavit of Eric Schatz ("Schatz Aff.") [DE 162-2], to which numerous exhibits are annexed [DE 162, Exs. Plaintiffs also submitted a Reply Memorandum of Law in Further Support of the Motion for Partial Summary Judgment ("Pls.' Reply Mem.") [DE 165-3], and the Reply Affidavit of Steven Rittmaster ("Rittmaster Reply Aff.") [DE 165], to which additional exhibits are annexed [DE 165, Exs. In opposition to the motion, Defendant Payton Lane Nursing Home, Inc. ("Howell") to complete the work required under the Takeover Agreement. In its Second Counterclaim for delay damages (which is the subject of Plaintiffs' motion here and which is discussed further below), Payton Lane alleges that, under the Takeover Agreement, it is entitled for delay damages for the period from March 15, 2005 through February 17, 2006. The Sureties, on the other hand, assert they "had achieved substantial completion of the work they were required to perform by August 12, 2005, . In support of this position, the Sureties allege, inter alia, that Howell's "correction of non-conforming work, together with Payton Lane's failure to provide direction when issues arose with the work, caused substantial delays to the Project." Id., ¶ 9. 2002-KC-2, Nationwide Survey of HUD's Office of Housing § 232 Nursing Home Program (Schatz Aff., Ex.

("Payton Lane") relies upon its Responses to Plaintiffs' Rule 56.1 Statement (¶¶ 1-34) and Defendant's Counterstatement of Material Facts (¶¶ 35-66) ("Def.'s 56.1 Counterst.") [DE 163]; Memorandum of Law in Opposition to Plaintiffs' Motion for Partial Summary Judgment ("Def.'s Mem.") [DE 164]; and the Affirmation of Robert C. The Takeover Agreement further provided that Greyhawk would continue as the Sureties' "Authorized Representative with regard to completion of the remaining work" on the Project, and would "supervise the work to be performed by the Completion Contractor." Schatz Aff., Ex. Following the execution of the Takeover Agreement, Plaintiffs hired E. Pls.' 56.1 Stmt., ¶ 11; Schatz Aff., ¶ 8; Def.'s 56.1 Counterst., ¶ 11. The Sureties further contend that, in any event, the "Court need not determine the actual date of substantial completion on this motion as, regardless of the completion date, Payton Lane is barred from recovery of liquidated damages, based on its certification to HUD and its representations to the [IRS] in its 2006 tax return." Id., ¶ 12. [t]he development of assisted living facilities for the care of frail elderly persons." 12 U.