STATE OF LOUISIANA COURT OF APPEAL, FIRST CIRCUIT SECURITY NATIONAL PROPERTIES NO. 2020 CW 1114 SERVICING COMPANY, LLC PAGE 1 OF 2

VERSUS

SN PROPERTIES FUNDING V- WILMINGTON, LLC; SN PROPERTIES FUNDING V - REPUBLIC SQUARE, LLC; SN PROPERTIES FUNDING V- WINGATE, LLC; SN PROPERTIES FUNDING V - ASPEN, LLC; SN PROPERTIES FUNDING V- DOTHAN, LLC; SN PROPERTIES FUNDING V- RANGEVIEW, LLC; SN PROPERTIES FUNDING V- TOWER/ TPWNSITE, LLC; SN PROPERTIES FUNDING V - GOLDS, LLC; SN PROPERTIES FUNDING V- FREEPORT, LLC; SN PROPERTIES FUNDING V- ASHEVILLE, LLC; SN PROPERTIES FUNDING V - GUILFORD, LLC; SN PROPERTIES FUNDING V- HENDERSON, LLC; SN PROPERTIES FUNDING V- HICKORY, LLC; SN PROPERTIES FUNDING V- KINSTON, LLC; SN PROPERTIES FUNDING V- LENOIR, LLC; SN PROPERTIES FUNDING V- PINEHURST, LLC; SN PROPERTIES FUNDING V- SUNSET, LLC; SN PROPERTIES FUNDING V - NATIONAL OIL, LLC; SN PROPERTIES FUNDING V - BATH, LLC; SN PROPERTIES FUNDING IV- HAVRE, LLC; SN PROPERTIES FUNDING IV- NORTHWAY MALL, LLC; SN PROPERTIES FUNDING IV -LEIGH MALL, LLC; SN PROPERTIES FUNDING IV- BOONE, LLC; SN PROPERTIES FUNDING IV- MOREHEAD, LLC; SN PROPERTIES FUNDING IV- ROCKINGHAM, LLC; SN PROPERTIES FUNDING IV- WRIGHTSVILLE, LLC; SN PROPERTIES FUNDING IV -ATRIUM, LLC; and SN PROPERTIES FUNDING IV- CENTRAL PARK, LLC FEB 1 8 2021

In Re: SN Properties Funding V - Wilmington, LLC, Et Al., applying for supervisory writs, 19th Judicial District Court, Parish of East Baton Rouge, No. 691652.

BEFORE: WHIPPLE, C. J., WELCH AND CHUTZ, JJ.

WRIT DENIED.

VGW WRC

Welch, J., dissents. I would grant the writ in part, reverse the judgment of the trial court, and grant the exception of improper venue and dismiss this matter. The management STATE OF LOUISIANA COURT OF APPEAL, FIRST CIRCUIT

2020 CW 1114 PAGE 2 OF 2

agreement and the subordination agreement are inextricably intertwined and must be considered conjointly. Clearly, the subordination agreement will be determinative of plaintiff' s right to recover. The subordination agreement contains an enforceable forum selection clause in which the parties signed and agreed that any and all disputes arising out of the subordination agreement would be heard in New York. New York.

Forum selection clauses are generally favored and enforceable.

Shelter Mut. Ins. Co. v. Rinkus Consulting Group, Inc. of La., 2013- 1977 ( La. 07/ 01/ 14), 148 So. 3d 871, 878. As such, New York, New York is the proper venue for this action. Accordingly, I dissent.

COURT OF APPEAL, FIRST CIRCUIT

7' D D P' CLERK OF COUR FOR THE COURT