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Doleac v. Real Estate Professionals9/15/2005
ept by completion of the stated term.
. Also incorporated into and made apart of the APA was a lease of certain property. This LA leased "suites 1, 4, 5, and part of suite 3" at a stated location to be used primarily for offices. The rental on this certain property was $7,500 per month to be paid the first of each month and a penalty of 4% to be added if payment is not received within ten days of the due date. This agreement provided that if there is a default by Lessee, Lessor will provide written notice and if such default is not cured within 10 days then "Lessor may re-take the same as if this lease had not been made."
. Almost immediately REP started becoming delinquent in making the payments under the LA and the APA. The Doleac Company and Building called every month to inform REP that payment was late. When the late payment was brought to the attention of REP, the sales manager would send a check which included the payment plus the late fee. This sales manager left REP and after that Doleac Company had problems getting payment. In July and August 2002, REP did not make the payments again and ignored the repeated inquiries about the late payments. On behalf of Doleac Company and Doleac Building, Barry, took the three agreements to his attorney in order to determine a course of action. Barry Doleac, on advice of the attorney, changed the locks on the building which REP rented, as authorized and agreed to in the LA. Barry said that he changed the locks on the building on Labor Day when the office was closed so that business was minimally disrupted and in order to quickly work something out regarding the late payments. There was also a security guard stationed at the door in order to regulate access to the building.
. The agents working for REP were eventually allowed into the building, and some of the agents were accompanied by the security guard. Four agents testified that the lock-out concerned them because they did not know exactly what was happening. One agent testified that the lock-out affected REP because rumors started spreading to other companies and their agents. Furthermore, one agent lost two listings because of the rumors regarding the lock-out.
. The next day, the owners of REP, Barry Doleac, and Doleac's attorneys met. At the meeting Doleac told REP the amount of money due under the LA and APA which was required to be paid in order for the building to be unlocked. Doleac's position was that the lease was null and void since REP was three months late. Furthermore, since REP was late on payments under the APA and since this agreement included an acceleration clause, Doelac considered the entire amount on the note due. The parties agreed that REP would pay the back due rent on the lease and that the parties would renegotiate a new lease for one suite. Furthermore, the parties agreed that REP would pay $50,000 under the APA instead of the full amount that was owed. The total amount that REP was required to pay in order to get the building unlocked was $80,600, which included the $50,000 on the APA, the back due rent and the current rent, attorney's fees and the cost of changing the locks. REP borrowed the money and paid Doleac what was owed. The next day a new key was given to REP, and it was given access to the building.
. Subsequently, disagreements arose between the parties, and the negotiations on the new agreements fell apart. Barry Doleac, on behalf of The Doleac Company, sent letters to various real estate closing attorneys stating that they had a security agreement in present and future listings. The purported security agreement mentioned in the APA was never attached as an exhibit to the agreement, and the financing statement did
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