OPINION & ORDER Plaintiff brings this diversity action against J1M Realty Inc. (“J1M”), a New York corporation, and its president, Everton McIntyre, principally alleging that defendants defaulted on their obligations to repay two commercial loans. Plaintiff now renews its motion for a default judgment. For the reasons set forth below, I find that plaintiff is entitled to recover from defendants the total amount of $120,566.57 — consisting of $17,030.34 in past due payments, $89,651.23 in accelerated future payments, $385.00 in site inspection charges, and $13,500.00 in attorneys’ fees — plus post-judgment interest on that total amount pursuant to 28 U.S.C. §1961. Plaintiff has not established that it is entitled to “return item charges,” or to the late charges or the interest on the past due payments it requests. Plaintiff is entitled to recover costs in the amount taxed by the Clerk of Court in accordance with Local Civil Rule 54.1. BACKGROUND The following facts are drawn from the complaint filed by Ascentium Capital LLC (“Ascentium”) and are assumed to be true.1 On or about March 29, 2021, J1M entered into an Equipment Finance Agreement (“EFA”) with Ascentium to finance its purchase of computer equipment. Eight days later, on April 6, 2021, J1M entered into a second EFA with Ascentium to finance the purchase of additional computer equipment and software. The two EFAs, both of which are attached as exhibits to the complaint, are nearly identical one-page documents. Neither agreement states the amount J1M borrowed or the interest to be charged on the loan, but each provides a specific repayment schedule. The first EFA provides for payment of 60 equal installments of $1,011.74, while the second EFA provides for 60 payments of $1,013.87 each. Neither EFA specifies a date on which these monthly payments are to commence. Rather, they state that the first payment is due on the “Commencement Date,” which is defined as “the billing date specified by [Ascentium].” Each EFA grants Ascentium a purchase money security interest in “the Collateral” — the items purchased pursuant to that loan. In addition, repayment of each loan is personally guaranteed by McIntyre. Any amount not paid when due is “subject to a late charge of the lower of 10 percent of such amount or the highest amount allowed by law.” Both EFAs provide that J1M will be in default if, among other things, it fails to make a payment when due. In the event of a default, Ascentium has the right to take various actions, including taking possession of the Collateral and/or accelerating the loans by declaring “all sums due and to become due…immediately due and payable.” In the event of acceleration, all future payments are to be “discounted at 3 percent as calculated by [Ascentium].” Both EFAs provide that J1M shall reimburse Ascentium for all costs incurred in enforcing its rights, including “attorneys’ fees and costs of repossession, repair, storage and remarketing of the Collateral.” Each EFA also provides that it “shall be governed and construed under the laws of the State of California.” According to the complaint, J1M failed to make payments on the second EFA beginning with the payment due on August 25, 2021. (Complaint at 19.) In addition, J1M failed to make payments on the first EFA beginning with the payment due on September 15, 2021. (Id. at 10.) On May 11, 2022, Ascentium sent J1M and McIntyre a letter entitled “Notice of Default and Acceleration” (the “Notice”), notifying J1M of the defaults under both EFAs and of Ascentium’s decision to accelerate the loans and declare them immediately due and payable. (Id. at
11, 20.) That Notice, which is attached to the complaint as Exhibit B, demands payment of certain amounts due under each of the EFAs as of the date of the letter. With respect to the first EFA, the Notice demands $8,093.92 in “Past Due Payments”; $547.30 in interest on this amount, calculated at the rate of 1.5 percent per month; $101.17 in “Late Charges”; and $44,796.90 in “Future Payments Accelerated,” discounted to present value at a 3 percent interest rate. The Notice also demands $120.00 in “Return Item Charges” and $192.50 in “Site Inspection Repossession Charges,” though it does not offer any explanation of these charges. With respect to the second EFA, the Notice demands $8,936.42 in “Past Due Payments”; $618.06 in interest on this amount; $304.17 in “Late Charges”; $44,854.33 in “Future Payments Accelerated”; and $192.50 in “Site Inspection Repossession Charges.” The Notice demands payment of a total of $108,757.27, plus interest and fees, within ten days. (Complaint at
