Downtown Sunnyvale Residential v. Wells Fargo Bank CA6

Filed 5/19/15 Downtown Sunnyvale Residential v. Wells Fargo Bank CA6

NOT TO BE PUBLISHED IN OFFICIAL REPORTS

California Rules of Court, rule 8.1115(a), prohibits courts and parties from citing or relying on opinions not certified for publication or ordered published, except as specified by rule 8.1115(b). This opinion has not been certified for publication or ordered published for purposes of rule 8.1115.

IN THE COURT OF APPEAL OF THE STATE OF CALIFORNIA

SIXTH APPELLATE DISTRICT

DOWNTOWN SUNNYVALE H039332

RESIDENTIAL, LLC et al., (Santa Clara County Super. Ct. No. 1-11-CV213485) Plaintiffs, Cross-defendants, and Appellants,

v.

WELLS FARGO BANK, N.A.,

Defendant, Cross-complainant and Appellant.

In 2007, construction began on the Sunnyvale Town Center Project (Project), a large mixed-use redevelopment project located in Sunnyvale, California. The project was financed in part by a construction loan provided by Wells Fargo Bank.1 Two years later, the borrowers defaulted on the loan. The bank filed a complaint for judicial foreclosure and sought appointment of a receiver. The…