Mathias Bruefach, Steven Bruefach and Edward Wojcik, Plaintiffs,
Richard Miessmer, and Creative Sign Solutions, Inc., Defendants.
This case is not published in a printed volume and its disposition appears in a table in the reporter.
Counsel for Plaintiffs Finkelstein, Feil Foxman, LLP.
Counsel for Defendant Seth A. Eschen, Esq.
Leonard B. Austin, J.
Plaintiffs, Mathias Bruefach ("Mathias"), Steven Bruefach ("Steven") and Edward Wojcik ("Edward"), move for summary judgment in lieu of complaint pursuant to CPLR 3213.
On August 1, 2005, Defendant, Creative Sign Solutions, Inc. ("Creative"), made a promissory note in the principal sum of $235,000 payable to Mathias, Steven and Edward. Each had an equal one-third (1/3) interest in the note. The note was payable in 60 monthly installments of $4,708.92 which included interest at the rate of 7 % per annum with payment commencing on August 1, 2005. The remaining payments were due on the first day of each month thereafter with the final payment being due on July 1, 2010.
Defendant, Richard Miessmer ("Richard"), executed the note on behalf of Creative and as "Guarantor of payment terms and conditions."
Each monthly payment was to be made in three equal payments to Mathias, Steven and Edward of $1,569.64 .
The note provides the maker will be in default if it fails to pay any monthly installment within five (5) days of the due date.
In the event of default, the entire outstanding principal balance would become immediately due and payable. In the further event of default, interest on the unpaid balance would be payable at the rate of15% per annum.
Creative defaulted in the payment of the note by failing to make the payment due on May 1, 2007. Creative has failed ...