Marentes prior to granting the latest Ygrene Mortgage

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Marentes prior to granting the latest Ygrene Mortgage

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The latest proceeds from the brand new Ygrene Financing was basically said to be used getting on the internet installment funds during the Fort Wayne energy saving enhancements to help you the home, together with a solar system

· “Because of the Ygrene Financing, Ygrene gotten a good lien covered because of the Property inside the elder condition to help you Anchor’s Action out-of Trust. Plaintiff was advised and you may believes, and depending thereon alleges, that no solar system is strung. ” (Id. at the ¶ twenty-eight.)

· “Wise Solar power and you will/or Maldonado leased Accused Luis Meza Marentes, d/b/a Marentes Design, to execute the latest solar construction work on the home, with the Ygrene Financing proceeds. Mr. Marentes was an authorized builder (Permit No. 961891). He’s gotten an abundance of violations from the Builders County License Board through the years, as well as not restricted to contracting having nonlicensees, failure so you can safer gurus compensation exposure, with their non-entered salespersons and you will misusing his contractor’s licenses. His permit used to be frozen. In the event Mr. Marentes is actually announced to Ygrene just like the company who carry out the newest solar power setting up focus on the property, it is unsure whether or not Ygrene got people steps after all in order to vet Mr. ” (Id. in the ¶ 30.)

· “[R]ather than just disburse the money from the Ygrene Mortgage so you’re able to Mr. Marentes for the levels, as Most useful Habit Assistance suggest, Ygrene alternatively produced a lump sum disbursement so you’re able to Smart Solar. The end result away from Ygrene’s carry out with regards to the Ygrene Loan is actually that the currency wasn’t familiar with increase the worth of the home that have a solar system, the bucks was removed because of the Maldonado and you can Marentes, and Plaintiff are leftover having good junior lien so you can Ygrene’s now older $116, lien simple weeks adopting the Anchor Loan was made.” (Ibid.)

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