Royce-George & Associates, LLC v. U.S. Bank, as Trustee for Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13 Commercial Pass-Through Certificates, Series 2013-C13 and Wells Fargo Bank, N.A.

CourtDistrict Court, D. Massachusetts
DecidedApril 17, 2026
Docket1:24-cv-12612
StatusUnknown

This text of Royce-George & Associates, LLC v. U.S. Bank, as Trustee for Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13 Commercial Pass-Through Certificates, Series 2013-C13 and Wells Fargo Bank, N.A. (Royce-George & Associates, LLC v. U.S. Bank, as Trustee for Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13 Commercial Pass-Through Certificates, Series 2013-C13 and Wells Fargo Bank, N.A.) is published on Counsel Stack Legal Research, covering District Court, D. Massachusetts primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

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Royce-George & Associates, LLC v. U.S. Bank, as Trustee for Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13 Commercial Pass-Through Certificates, Series 2013-C13 and Wells Fargo Bank, N.A., (D. Mass. 2026).

Opinion

UNITED STATES DISTRICT COURT DISTRICT OF MASSACHUSETTS

ROYCE-GEORGE & ASSOCIATES, LLC, * * Plaintiff, * * v. * * U.S. BANK, as TRUSTEE for MORGAN * Civil Action No. 1:24-cv-12612-IT STANLEY BANK OF AMERICA * MERRILL LYNCH TRUST 2013-C13 * COMMERCIAL PASS-THROUGH * CERTIFICATES, SERIES 2013-C13 and * WELLS FARGO BANK, N.A., * * Defendants. *

MEMORANDUM & ORDER

April 17, 2026 TALWANI, D.J. Plaintiff Royce-George Associates, LLC (“RGA”) brings this action against Defendants U.S. Bank, N.A., as Trustee for Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13 Commercial Pass-Through Certificates Series 2013-C13 (“U.S. Bank”) and Wells Fargo Bank, N.A. (“Wells Fargo”). RGA claims that Defendants impermissibly administered a commercial mortgage loan and breached the terms of the loan agreement. Pending before the court is Defendants’ Motion to Dismiss [Doc. No. 9] RGA’s Complaint for failure to state a claim upon which relief can be granted, pursuant to Fed. R. Civ. P. 12(b)(6). For the reasons set forth below, the court DENIES in part and GRANTS in part Defendants’ Motion. I. Factual Background as Alleged in the Complaint A. Property Financing RGA is a Massachusetts limited liability company with a principal place of business in the Commonwealth. Compl. ¶ 1 [Doc. No. 1]. In October 2003, RGA purchased a commercial property (the “Property”) in Flemington, New Jersey. Id. ¶ 7. In September 2013, RGA borrowed $2.5 million from Morgan Stanley Capital Holdings, LLC (“Morgan Stanley”) as a non-recourse mortgage loan, secured by the Property and the right to income from a lease with Rite Aid, the Property’s tenant. Id. ¶¶ 10, 14.

The parties executed the transaction (the “Loan”) through five contractual agreements (collectively, the “Loan Documents”) including: (1) the Promissory Note to Morgan Stanley [Doc. No. 1-1] (the “Note”), (2) the Mortgage in favor of Morgan Stanley [Doc. No. 1-2] (the “Mortgage”), (3) the Reserve and Security Agreement [Doc. No. 1-3] (“R&S Agreement”), (4) the Cash Management Agreement [Doc. No. 1-4] (“CMA”), and (5) the Deposit Account Control Agreement [Doc. No. 1-5] (“DACA”). Id. ¶ 11. The Loan Documents set a maturity date of October 1, 2023. See Note 1 [Doc. No. 1-1]; Compl. ¶ 11 [Doc. No. 1]. The Loan was later bundled and sold to U.S. Bank as a commercial mortgage-backed security. Compl. ¶ 12 [Doc. No. 1]. Pursuant to the Loan Documents, the Property’s tenant, Rite Aid, paid rent under its lease

agreement (the “Rite Aid Lease”) directly into an account controlled by U.S. Bank and serviced by Wells Fargo. Id. ¶ 14. Wells Fargo used the rental income to make loan payments to U.S. Bank and then wired the excess to RGA monthly. Id. ¶¶ 14–15. The Loan Documents stipulated circumstances under which these rent payments became additional security for the Loan. Id. ¶ 14. As relevant here, upon the occurrence of a “Trigger Event,” the R&S Agreement [Doc. No. 1-3] required Wells Fargo to deposit all excess cash generated from the lease into an Excess Cash Reserve Account (“ECRA”) rather than send the balance to RGA. R&S Agreement § 2.4 at 4–5 [Doc. No. 1-3]; see also Compl. ¶ 18 [Doc. No. 1]. A “Trigger Event” included “the tenant under the Rite Aid Lease . . . enters into bankruptcy . . . and/or . . . Rite Aid gives notice of its intention to terminate its lease early or ceased to do business open to the public at the Property[.]” R&S Agreement § 2.4 at 5 [Doc. No. 1-3]. The Loan Documents define the ECRA as an interest-bearing account that, upon its

creation, was to be controlled by U.S. Bank. See R&S Agreement § 2.4 at 5 [Doc. No. 1-3]; Compl. ¶ 18 [Doc. No. 1]. B. The Trigger Event In September 2017, Rite Aid assigned its rights under the lease to Walgreens. Id. ¶ 13. In July 2018, Wells Fargo learned that Walgreens planned to close the pharmacy operating on the Property. Id. ¶ 16. Wells Fargo notified RGA that it considered the anticipated closure to be a “trigger event” under the Loan Documents, because Rite Aid would cease “to do business open to the public at the Property.” Id. ¶ 17; R&S Agreement § 2.4 at 4–5 [Doc. No. 1-3]. After closing the pharmacy, Walgreens continued to pay rent under the terms of Rite Aid’s lease, and Wells Fargo deposited the excess rental income into the ECRA. Id. ¶ 20. From 2018–2022, Wells Fargo sent RGA Year End Statements showing the excess funds deposited in

the ECRA as being held in “Total Reserve.” Id. C. The First Litigation Between the Parties RGA commenced a legal action against Wells Fargo and U.S. Bank in the United States District Court for the District of Massachusetts in December 2018, alleging breach of contract and breach of the implied covenant of good faith and fair dealing regarding the transfer of the rental income into the ECRA. See Royce-George & Assoc., LLC v. U.S. Bank, N.A. (“RGA I”), No. 18-CV-12198-ADB, 2021 WL 294244 (D. Mass. Jan. 28, 2019). The court granted Defendants’ motion for summary judgment, finding that the transfer of rental income was conducted in accordance with the Loan Documents. Id. Defendants did not seek an award of legal fees in RGA I. D. Post-Litigation Demand for Fees The Mortgage required RGA to “pay to [U.S. Bank] on demand any and all expenses, including legal expenses and attorneys’ fees, incurred or paid by Lender in protecting its interest

in the Property or in collecting any amount payable hereunder or in enforcing its rights hereunder with respect to the Property, whether or not any legal proceeding is commenced[.]” Mortgage § 19.2 at 57 [Doc. No. 1-2]. Such attorneys’ fees, in addition to “all ‘special servicing,’ ‘workout,’ and/or ‘liquidation’ fees (or their equivalent)[]” must be paid along with interest accruing at the “Default Rate from the date paid or incurred by [U.S. Bank] until such expenses are paid[.]” Id. On October 4, 2021, counsel for U.S. Bank sent a demand for payment to RGA asserting that it had incurred legal fees “in connection with its defense of [RGA I], enforcing its rights under the Loan Documents and protecting its rights to the Property under the Loan Documents” in the amount of $368,880.31; $35,886.76 for “Special Servicing Fees”; and $15,471.25 for a

“Workout Fee.” Compl. Ex. F, at 1–2 [Doc. No. 1-6]. U.S. Bank demanded payment pursuant to Section 19.2 of the Mortgage. Id. at 2. No accounting of the fees was provided to RGA. Compl. ¶ 27. RGA did not pay the fees upon demand. E. The Sale As of December 31, 2022, Wells Fargo’s Year End Statement summarizing the status of the Loan indicated that the ECRA had a balance of $464,831.86 and no miscellaneous charges had been incurred. Compl. Ex. G [Doc. No. 1-7]; Compl. ¶ 28 [Doc. No. 1]. In April 2023, RGA entered into a Purchase and Sale Agreement regarding the Property that was anticipated to close on October 1, 2023, the Loan’s maturity date. Compl. ¶ 29 [Doc. No. 1]. On September 3, 2023, RGA informed Rialto Capital Advisers (“Rialto”), a sub-servicer and agent of Wells Fargo, of its intention to sell the Property and asked Rialto to apply the ECRA funds to the balance of the Loan on the maturity date. Compl. Ex. H [Doc. No. 1-8]; Compl. ¶¶ 30–31 [Doc. No. 1]. RGA alleges that, as of the maturity date, the ECRA account

should have contained “approximately $553,674.40” and that applying the funds in the ECRA account “would have reduced the balance due [on the Loan] to approximately $528,333.” Compl. ¶ 32 [Doc. No. 1]. On October 5, 2023, Rialto sent RGA a Notice of Default Demand and a Reservation of Rights Letter. Id. ¶ 33. On November 29, 2023, counsel for Wells Fargo sent RGA a Payoff Demand Statement for the Loan. Id. ¶ 34. RGA requested information regarding the Payoff Demand Statement to verify its accuracy and received 40 pages of “loan history” on December 14, 2023. Id. ¶¶ 35–36.

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