Josephine Velasco - Page 8




                                        - 8 -                                         
          agreed to pay petitioner’s moving expenses, petitioner agreed to            
          vacate the property.  Nothing in the record indicates that                  
          petitioner took any action to compel Mr. Riccardi to pay her the            
          $40,500 balance of the commission or that petitioner contested the          
          matter.  Nor is there any evidence that Mr. Riccardi took any               
          action to compel petitioner to pay additional expenses he may have          
          incurred because of petitioner’s failure to pay rent.  The dispute          
          as to the amount of the remaining debt petitioner owed to Mr.               
          Riccardi and the remaining amount of commission Mr. Riccardi owed           
          petitioner apparently was resolved and settled by the end of 1996.          
               Petitioner was obligated under the written lease to pay Mr.            
          Riccardi $1,800 per month from January 1, 1995, to December 31,             
          1996, for a total of $43,200 for the 24-month period.  Although             
          petitioner occupied the property and owed rent for the entire 24-           
          month term of the lease, she paid Mr. Riccardi only $5,701.68.              
          Thus, when she vacated the property at the end of 1996, she owed            
          Mr. Riccardi $37,498.32 of unpaid rent ($43,200 - $5,701.68).               
          Additionally, because petitioner failed to pay the rent when it was         
          due, Mr. Riccardi incurred more than $3,000 of additional interest          
          expense and costs for which petitioner was liable under the lease.          
          Consequently, petitioner owed Mr. Riccardi at least $40,500 by the          
          end of 1996.                                                                
               Petitioner earned a commission of $60,500 on the sale of the           
          shopping center in 1996.  The M. Riccardi Agency paid petitioner            






Page:  Previous  1  2  3  4  5  6  7  8  9  Next

Last modified: May 25, 2011