By Cherrie Anne E. Villahermosa
Variety News Staff

A MAN has been sued by a bank for non-payment of rent amounting to $47,500.
Minoru W. Imai ,also known as Mike Imai, was sued by the Bank of Guam for breach of lease for failing to pay his monthly rent since Nov. 21, 2005.
The Bank of Guam, through attorney Michael White, filed a civil action against Imai in Superior Court on Tuesday.
The complaint stated that the bank is the owner of a certain real property on Saipan leased by the defendant.
The bank and the defendant entered into a lease on Feb. 4, 2003 and Imai was obligated to pay rent of $2,000 per month.
The lease expired on Dec. 2, 2003 but Imai continued to use and occupy the premises as a holdover tenant.
The complaint stated that Imai failed to pay any rent since Nov. 21, 2005. As of March 27, 2007, Imai was in arrears in his rent payments in the amount of $47,500.
As a consequence of the defendant’s breach of the lease, the plaintiff terminated the lease and the defendant’s holdover tenancy on March 27. The termination was delivered to Imai on March 28.
The complaint stated that the plaintiff demanded possession of the premises within three days and the three-day notice period expired on April 1.
Imai, however, continues to use and occupy the premises, according to The Bank of Guam.
It is seeking judgment against Imai and an order for the immediate recovery of the possession of the premises and for the defendant and all persons claiming by, for, or through him, to vacate the premises.
The bank is also seeking an award of money for past-due rent through March 3 in the amount of $47,500; interest on all past-due rent at the rate of 12 percent per annum from the date that each installment was due, to the date of judgment, at the rate of $4,000 per month commencing on April 3 and continuing until Imai vacates the premises and possession is restored to the plaintiff; attorney’s fees and costs and interest on the total of any monetary judgment at the rate of 9 percent per annum “from the date thereof and for other and further relief.”