Vestervalli tn 14: conditional reduction of debt

The settlement makes a debt reduction conditional on proper payment and sets out the consequences of delay.

Narva linn, Vestervalli tn 14 korteriühistu sought management-cost arrears from XX. After the case was transferred from expedited payment-order proceedings, the parties reached a settlement. The court approved it and ended the proceedings. The reduction of the acknowledged debt depends on proper payment of the agreed amount in equal instalments over one year. Interest of 8% per year applies to the unpaid amount. The association’s litigation costs are also paid by instalments. A late or incomplete payment makes the unpaid balance recoverable on the basis of the original debt without the reduction and the agreed costs. Proper performance settles the claims for the period covered by the agreement. The association was awarded a refund of 25 euros in state fees. The parties waived appeal. The order approves the terms but does not establish that they were performed.

Approve the settlement and end the proceedings. The debt reduction depends on proper payment; interest of 8% per year applies to the unpaid amount. On breach, the unpaid balance of the original debt without the reduction and the agreed costs becomes recoverable. Refund 25 euros in state fees to the association.