Apple Valley Mall v. Floyd Realty Co., Inc., 97-4157 (1998) (1998)

Citation: Apple Valley Mall v. Floyd Realty Co., Inc., 97-4157 (1998) (1998)
Parent Document: Apple Valley Mall v. Floyd Realty Co., Inc., 97-4157 (1998) (1998)
Jurisdiction: Rhode Island (state)
Effective Date: 1998-03-30
Original Source: https://www.courtlistener.com/opinion/4113657/apple-valley-mall-v-floyd-realt... ↗

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The evidence indicates that the plaintiff maintained a general running account itemizing all of defendant's rent and operating expense charges. The notice of nonpayment stated a total amount due of $26,108.29 including interest calculated to January 25, 1997. The defendant tendered to plaintiff payment totaling $35,325.11 prior to February 13, 1997. Under the good faith and fair dealing principles stated above, the plaintiff and defendant were under a duty to maintain the tenancy by applying the defendant's payments to the amounts due under the notice of nonpayment. The defendant tendered the February 1997 monthly rent installment payment on January 30, 1997. The lease calls for an annual rent payment paid in monthly installments. The February 1997 payment should have been applied against the general account deficiency and not segregated to the February 1997 rent installment payment. If there was a deficiency on February 1, 1997, the plaintiff, pursuant to the lease, should have issued a subsequent notice of nonpayment to include the February 1997 monthly rent installment shortfall. Moreover, the plaintiff was under an obligation to apply the payments first to amounts due under the notice of nonpayment before applying funds to amounts not yet due during the ten day cure period. The Court finds that the defendant was not in default of the lease when the plaintiff issued the notice of termination of February 14, 1997.

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