BMO Harris Bank N.A. v. Ground Link Express Inc.

I. BACKGROUND

Plaintiff is a national banking association. (ECF No. 1, p. 2). Defendant Ground Link is a commercial trucking business owned by Defendant Singh. (Id.) Plaintiff entered into a loan and security agreement (“the Agreement”) with Ground Link in December 2021 where Plaintiff 27 28 agreed to finance Ground Link’s purchase of two vehicles1. (Id., p. 3). In turn, Ground Link agreed to pay Plaintiff pursuant to the terms of the agreement. (Id.) In connection with the Agreement, Singh executed a continuing guaranty (“the Guaranty”) where Singh guaranteed the performance of Ground Link’s liabilities to Plaintiff. (Id.) Pursuant to the Agreement, Ground Link granted Plaintiff a first-priority security interest in the vehicles. (Id.) Defendants defaulted 5 under the terms of the Agreement and the Guaranty by failing to pay the amount due to Plaintiff 6 in September 2022. (Id.) Pursuant to the terms of the Agreement, the entire amount due 7 accelerated upon default. (Id., pp. 3-4). Further, Defendants are obligated to pay a default interest 8 rate on all unpaid amounts, repossession and other fees, all expenses in retaking, holding, 9 preparing,…