Judge: Edward B. Moreton, Jr., Case: 22SMCV00304, Date: 2023-01-04 Tentative Ruling

Case Number: 22SMCV00304    Hearing Date: January 4, 2023    Dept: 205

Superior Court of California

County of Los Angeles – West District

Beverly Hills Courthouse / Department 205

MOVING PARTY:                Plaintiff REEP-OFC Corporate Pointe CA, LLC

RESPONDING PARTY:       Defendant Optimity Advisors, LLC

BACKGROUND

            This is a breach of commercial lease case.  Plaintiff REEP-OFC Corporate Pointe CA LLC leased premises located at 600 Corporate Pointe, Suite 200, Culver City, California (the “Premises”) to Defendant Optimity Advisors, LLC.  Optimity failed to pay rent and other amounts due under the Lease.  As a result, Landlord initiated a breach of commercial lease lawsuit. 

This hearing is on Landlord’s motion for entry of judgment pursuant to stipulation.  In June 2022, the parties entered into a written Settlement Agreement, Stipulation for Entry of Judgment in the Event of Default and Stipulated Judgment in the Event of Default.  Under the terms of the Stipulation and Settlement Agreement, Tenant agreed to pay Landlord eight monthly settlement payments of $23,741.50 beginning on July 1, 2022 and to timely pay its rent and other charges as they became due under the Lease.  Tenant failed to make any of the monthly settlement payments and has only made partial rent payments.  Under the Stipulation and Settlement Agreement, if Tenant breached its obligation to timely pay any of its monthly settlement payments, then Tenant agreed this Court may enter the Stipulated Judgment.  

No opposition was filed.

DISCUSSION

Under the Stipulation, Landlord has the right to seek, by way of ex parte application to this Court, an immediate money judgment in the form of the Stipulated Judgment (Ex. C to Miret Decl.), if Tenant breaches any obligation of the Stipulation, including failure to timely pay any monthly settlement payment.  (Exs. A, B to Miret Decl.)  Tenant waives any right to contest the ex parte application.  (Ex. B to Miret Decl.)    

It is undisputed that Tenant failed to pay any of the eight monthly settlement payments due or owing as of July 1, 2002 through February 1, 2023, and it has failed to pay all monthly rent or additional rent which became due and owing from May 1, 2022 to November 1, 2022.  (Miret Decl. ¶¶3-4.)  Under the Stipulated Judgment, Tenant agreed that in the event of breach of the Stipulation, the Court may enter a Judgment in the amount of $272,390.16 “plus all other past due Rent and Additional Rent that comes due through entry of judgment.”  Landlord avers that the amount of past due and additional rent due is $75,792.77.  (Miret Decl. ¶4; Hifai Decl. ¶3.) 

Under the Stipulation, Tenant also acknowledges Landlord’s right to “bring an application to amend the Money Judgment to include any additional post-default and post-judgment attorneys’ fees and legal costs incurred by [Landlord].”  (Ex. B to Miret Decl.)  The Stipulated Judgment provides that “[Landlord’s] attorneys’ fees and legal costs accruing after the date of the Stipulation and up to and including the date of [Landlord’s] ex-parte application may be awarded upon application for an amended Judgment herein by [Landlord].”  (Ex. C to Miret Decl.)  Landlord avers it has incurred $15,000 in attorneys’ fees and legal costs.  (Miret Decl. ¶5; Hifai Decl. ¶2.)

Accordingly, pursuant to the Stipulation and signed Stipulated Judgment, this Court enters a money judgment in favor of Landlord in the amount of $363,182.93 – comprising of the Stipulated Judgment of $272,390.16 plus the $75,792.77 in rent that has come due and owing and $15,000 in post-default legal fees and costs. 

CONCLUSION

            Based on the foregoing, the Court GRANTS Plaintiff REEP-OFC Corporate Pointe CA, LLC’s motion for entry of judgment pursuant to stipulation.

IT IS SO ORDERED.

DATED: January 4, 2023                                           ___________________________

                                                                                    Edward B. Moreton, Jr.

                                                                                    Judge of the Superior Court