WELLS FARGO BANK, NATIONAL ASSOCIATION ON BEHALF OF THE CERTIFICATE HOLDERS OF MORGAN STANLEY ABS CAPITAL I INC. TRUST CERTIFICATES, SERIES 2005 v. NATIONAL LUMBER COMPANY

Wells Fargo Bank (“Plaintiff”) brings this action against National Lumber Company (“National”) seeking equitable subrogation of the mortgages granted by one David Naginewicz (“Naginewicz”) to Plaintiff and Defendant.

On July 25, 2008, Plaintiff filed Motion for Summary Judgment along with an Appendix in Support of Summary Judgment. On August 26, 2008, Defendant filed an Opposition to Plaintiff’s Motion for Summary Judgment with its own Appendix in Support of its Opposition to Summary Judgment. The motions were argued on September 25, 2008 and taken under advisement by the Court (Trombly, J.).

After carefully considering all of the evidence, the Court entered a Decision today ruling that equitable subrogation is the proper way to reprioritize the debt to the positions each intended to occupy, with the Plaintiff’s mortgage as first mortgage in the amount of $135,776.01 and the Defendant’s mortgage as the second mortgage.

In accordance with that Decision it is hereby

ADJUDGED and ORDERED that Plaintiffs Motion for Summary Judgment is GRANTED and it is further

ADJUDGED and ORDERED that the National Lumber mortgage, dated November 17, 2003, and recorded in book 13809, page 67, is subordinated to Plaintiff’s mortgage, dated November 8, 2004, and recorded in book 14624, page 247, to the extent of the amount advanced to discharge the Novastar mortgage ($135,776.01).

By the Court. (Trombly, J.).