Marentes just before granting brand new Ygrene Loan

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The fresh new proceeds from this new Ygrene Financing was in fact allowed to be utilized for online repayment money in Fort Wayne energy conserving improvements to the property, plus a space

· “Because of the Ygrene Financing, Ygrene received a beneficial lien protected of the Assets from inside the older standing so you’re able to Anchor’s Deed off Faith. Plaintiff is informed and you can thinks, and founded on that alleges, one no solar system is actually hung. ” (Id. on ¶ twenty eight.)

· “Smart Solar power and you may/or Maldonado hired Offender Luis Meza Marentes, d/b/good Marentes Structure, to perform the latest solar installations work with the house or property, using the Ygrene Mortgage proceeds. Mr. Marentes was a licensed contractor (Licenses No. 961891). He’s got received a lot of violations in the Contractors Condition Licenses Panel throughout the years, as well as not limited by contracting that have nonlicensees, incapacity to help you safer workers settlement publicity, employing non-entered salespersons and you will misusing his contractor’s permit. Their licenses was previously suspended. Regardless of if Mr. Marentes try disclosed to Ygrene once the contractor who does manage the new solar power set up manage the property, it is unclear whether Ygrene took any strategies whatsoever to help you veterinarian Mr. ” (Id. at ¶ 31.)

· “[R]ather than just disburse the amount of money in the Ygrene Loan in order to Mr. Marentes when you look at the phase, just like the Greatest Habit Guidance recommend, Ygrene alternatively produced a lump sum disbursement in order to Smart Solar. The outcome away from Ygrene’s make according to the Ygrene Loan try that currency wasn’t used to enhance the value of the home having a space, the money is actually drawn of the Maldonado and you can Marentes, and Plaintiff is kept with good junior lien so you can Ygrene’s today elder $116, lien simple days after the Point Loan is made.” (Ibid.)

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