Property · MBE-tested

Harvest 12708 Riata, LLC, Appellant, v. Wells Fargo Bank, N.A., et al., Respondents

154 A.D.3d 58761 N.Y.S.3d 903·New York Supreme Court, Appellate Division·2017·NY

Concur — Renwick, J.P., Kapnick, Gesmer and Kern, JJ.

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Opinion

Harvest 12708 Riata, LLC, Appellant, v Wells Fargo Bank, N.A., et al., Respondents. [61 NYS3d 903] [MAJORITY] Order, Supreme Court, New York County (O. Peter Sherwood, J.), entered September 1, 2016, which granted defendants’ motion to dismiss the complaint, unanimously affirmed, with costs. The loan provision requiring plaintiff borrower to deposit and maintain a certain balance in a reserve rollover account is unambiguous in setting a minimum balance (see Greenfield v Philles Records, 98 NY2d 562, 569-570 [2002]). Plaintiff was thus barred from invading that minimum balance for disbursements for replacement tenant improvements and broker commissions when an anchor tenant’s lease terminated and was not renewed. Concur — Renwick, J.P., Kapnick, Gesmer and Kern, JJ.