- 8 -
attorney, petitioner's attorney indicated that petitioner would
settle the matter for "Land $9.00 per square foot. Prejudgment
interest at 10% per annum. Landscaping $14,275 (see attached)
waived if settled."
The parties reached an agreement on September 20, 1989,
whereby petitioners would receive $104,000 for the DeSellum
property acquired by the State. In a letter to the circuit
court, dated September 20, 1989, petitioner's attorney indicated
that, because of tax considerations, it was important that
prejudgment interest be included in the court's judgment. On
October 19, 1989, a consent inquisition was signed and sealed by
the circuit court, noting that upon the consent of the parties it
was necessary for the State to acquire the property described in
the amended petition and that the damages sustained by petitioner
were in the sum of $104,000. In a stipulation and waiver entered
into by the State and petitioner, the parties agreed that the
$104,000 settlement set forth in the consent inquisition included
all prejudgment interest. In addition, the State and petitioner
agreed that effective September 20, 1989, petitioner would be
entitled to postjudgment interest of 10 percent per annum on the
sum of $61,604 until said sum is paid, with the $61,604
representing the unpaid difference between the $104,000 and the
$42,396 previously deposited by the State with the circuit court.
The AAG explained the settlement with petitioner in a letter
dated October 27, 1989, to Edward S. Harris, Esq., Maryland
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011