Municipal Trust & Savings Bank v. Clark

MEMORANDUM OPINION AND ORDER

SHADUR, Senior District Judge.

This Court has now entered its Judgment of Foreclosure in this case. In that regard, the respective priority claimants— mortgagee Municipal Trust and Savings Bank (“Bank”) and the United States— have reached agreement on the terms of that judgment but have asked this Court to resolve one aspect of the first priority to which the Bank as mortgagee is entitled. That issue relates to the includability or nonincludability of the Bank’s late charges as “any interest or carrying charges upon the obligation secured” within the meaning of 26…