G.R. No. 126233 - VALGOSONS REALTY, INC., VS. COURT OF APPEALS, URBAN DEVELOPMENT

Ruling

WHEREFORE, and in consideration of the foregoing, the Court hereby rendered judgment in the above-entitled case as follows: (1) Ordering defendant Valgosons Realty, Inc. to pay plaintiff Urban Development Bank the following: (a) P65,799.20 - advance rental and deposit P36,501.00 - rental payment from Jan. to April 1985 P10,236.16 - increase of rental due to extension (Jan. to April 1985) P41,800.00 - penalty fees imposed by contractor P72,226.00 - cost of construction materials, grills, neon signs, permits which were wasted/no longer usable P250,000.00 - expenses/fees paid for relocation of branch premises P476,542.36 - TOTAL with interest thereon at the legal rate, from the date of default, until the entire amount is fully paid; (b) Fifteen Thousand Pesos (P15,000.00) by way of attorneys fees; and (c) costs of the suit. (2) Ordering the third-party defendant, Prudential Bank, to pay the third-party plaintiff, Valgosons Realty, Inc., the difference between the amount of rental that plaintiff Urban Development Bank would have paid defendant Valgosons Realty, Inc. and what the third-party defendant Prudential Bank, had actually paid the former (third-party plaintiff) for the period from October 1984 to April 1985 with legal interest thereon from October 1, 1984 until the same is fully paid; (3) Ordering the third-party defendant Prudential Bank to pay the third-party plaintiff Valgosons Realty, Inc. the amount of Five Thousand Pesos (P5,000.00) by way of attorneys fees; and (4) Costs of the suit. SO ORDERED.