california civil code prejudgment interest

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Awards of attorneys' fees in tax cases were first permitted by the Civil Rights Attorney's Fees Awards Act of 1976, 42 U.S.C. 424, Sec. (2) under Code of Civil Procedure section 585(a). rejudgment interest can have a sizeable effect on the recovery of damages in California. That rate shall control until the judgment becomes enforceable under Section 965.5 or 970.1 of the Government Code, at which time interest shall accrue at an annual rate equal to the weekly average one year constant maturity United States Treasury yield at the time of the judgment plus 2 percent, but shall not exceed 7 percent per annum. For example, in 1992 the Seventh Circuit awarded French plaintiffs $65 million in damages . Civil Amount Credits acknowledged Balance a. January 1, 2018] ... Code of Civil Procedure, §§ 699.520, 712.010, 715.010 Government Code, § 6103.5 . This course is designed not only for the student who plans to practice civil rights or public interest law, but also for the student who plans to hold a position of leadership in a culturally diverse institution; e.g., corporations, schools, and governments. Prejudgment and postjudgment interest rates | ontario.ca If you want to ask for interest on the money you are claiming, you must ask for it in your statement of claim. Code § 3288. PREFACE TO THE 2017 EDITION. The forms below can be easily downloaded and filled in online. Clarifying California’s Complex Usury Pre-judgment Interest 3. costs of suit, including attorneys' fees v. The petition must be verified by the client, unless she lives outside the county where your office is located or facts within knowledge of attorney. Dated: June --1-, 2021 Ninth Circuit Rules FDCPA and California Law Do Not ... California Code, Civil Code - CIV § 3287 | FindLaw Details: rejudgment interest can have a sizeable effect on the recovery of damages in California. Punitive damages may be recovered where fraud is proven by “clear and convincing” evidence. San Diego Source > Law > Guidelines on commercial security ... If your case is in New York, post-judgment interest is 9% simple per year under Civil Practice Law and Rules section 5004. Zoro) has held the security deposit may not be applied to future rent damages, prejudgment interest and attorney fees and costs that a landlord might recover in an action for breach of contract under California Civil Code Section 1951.2. Prejudgment Interest on Unliquidated Damages | Kring ... Judicial Council of California EJ-130 [Rev. Section 998 Offers to Compromise: Good Faith and ... Interest claimed on the judgment: Interest is allowed at the legal rate unless the contract allows for a higher rate. In Personal Injury Actions, Prejudgment Interest on Civ. April 14, 2008) [No. 1982, Ch. prejudgment interest (if applicable). In a 2014 court case, the court awarded prejudgment interest of 7% to the lien claimant ... of the California statutes that permit the filing of mechanics liens and materialmen’s liens can be found at California Civil Code Sections 8000 through 9566 et. Code, § 3288) If you decide that [name of plaintiff] is entitled to recover damages for past economic loss in one or more of the categories of damages that [he/she/nonbinary pronoun/it] claims, then you must decide whether [he/she/nonbinary pronoun/it] should also receive prejudgment interest on each item of loss in those categories. To Parties in Complex Cases. Failure to file a cover sheet with the first paper filed in a civil case may subject a party, its counsel, or both to sanctions under rules 2.30 and 3.220 of the California Rules of Court. Beware! When the injury occurred long before the judgment, prejudgment in­ terest can equal or even exceed the principal. In absence of a contractual rate of interest, the rate of prejudgment interest is 10% per annum. XV, § 1.) Ct. App. A writ of execution is a court order that puts in force a judgment of possession and directs law enforcement personnel to begin the transfer of assets, money, or … [Civ. 3116, which governs deficiency judgments in condemnation proceedings. This instruction assumes that the court exercises a gatekeeper function of deciding whether the case is one to which the statute applies. Proc., § 585.5 on the (3) for default previously entered on (date): 2.Judgment to be entered. Memorandum of Costs After Judgment, Acknowledgement of Credit, and Declaration of Accrued Interest Workplace Violence Note: Please refer to the Civil Schedule for filing fee information. Contract: A legal written agreement that becomes binding when signed. The statute creates a right for a jury to award prejudgment interest on noncontract claims, In essence, appellant maintains that in the instant case the damages suffered should have been measured by "the benefit of the bargain" rule as set forth in Civil Code, fn. Munson v. Del Taco, Inc., 522 F.3d 997 (9th Cir. 3935, Prejudgment Interest. May a debt collector recovering on a dishonored check impose both a service charge under section 1719 of the California Civil Code and pre-judgment interest under section 3287 of the California Civil Code?" (Ca Civil § 3291; Lakin v. Watkins Associated Industries (1993) 6 Cal.4th 644, 656-661.) (Michelson v. Beware! For example, in 1992 the Seventh Circuit awarded French plaintiffs $65 million in damages . Civ. California Civil Code section 3287(a) provides that “[a] 2 CROSS-COMPLAINANT STONEHAVEN, LLC’S REPLY /SO MOTION TO FIX PREJUDGMENT INTEREST T H E L E I C H T E R F I R M A P R O F E S S I O N A L C O R P O R A T I O N OO 00 9 NN nh B A W ND N O N N N N N N N N mm e m mt em e m p m e t e k 0 0 J O N Wn pA W N = O YW N O D N E … (a) WRIT OF EXECUTION. Pre-judgment interest of ten percent (10%) per annum pursuant to California Civil Code § 3288, 3291 or any other applicable code section providing for pre-judgment interest; and; g) For such other and further relief as .the Court may deem just and proper. Code 304.108 allowed the courts to toll the accrual of prejudgment interest during periods of delay in trial caused by either party. CA Civ Pro Code § 685.110 (2017) Nothing in this chapter affects the law relating to prejudgment interest. 528 F.3d at1130 (emphasis added). ; Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name. Bifurcated Trial 41.010. One purpose of the The end of the 30 days is not an automatic cut-off; the court will still accept a response from the defendant after 30 days, unless the plaintiff files a request for default. A very power ful, but underutilized law on [our books is Civil Code section 3288. (Added by Stats. Zoro) has held the security deposit may not be applied to future rent damages, prejudgment interest and attorney fees and costs that a landlord might recover in an action for breach of contract under California Civil Code Section 1951.2. Multiply the total days by the amount of daily interest. Conversely, parties hoping to avoid the imposition of prejudgment interest should strongly challenge the amount of damages owed. Fin. This article will review how to obtain prejudgment interest at trial and how to use such interest in an effort to … California Code of Civil Procedure (CCP) § 412.20(a)(3)). Code, § 3288) 3936-3939. California Courts have clearly held that by these statutes, a plaintiff may be entitled to prejudgment interest as part of his or her compensatory damages. 3935.Prejudgment Interest (Civ. Relevant sections of California’s mechanics lien statute have been provided below. $148 million in prejudgment interest in a suit arising out of the grounding of the . 2. A. This discretion is no longer provided to the trial courts. The role of the jury in awarding prejudgment interest is not clear from Civil Code section 3288. Civil Code § 3288 (2001).The California Supreme Court has recently ruled, however, that this discretion does not include the power to grant compound interest—only simple interest calculations are allowed. The court added that only a court may award prejudgment interest pursuant to California Civil Code §3287(a) following a claimant’s successful mandamus action challenging the UIAB’s wrongful withholding of benefits. appliances, flooring, etc…) under a retail installment sales contract under which a seller finances the purchase of its consumer goods or services and the buyer agrees to pay in installments. . Turning to the Civil Code section 3291 and precedent, the Court held that prejudgment interest may not be awarded on costs. Baumgartner and his colleagues contend that the "discovery of innocence" in the mid-1990s has reframed the death penalty debate away from traditional morality-based and constitutional arguments and has effectively changed U.S. public opinion and public policy about the death penalty, as evidenced by reduced public support for the death penalty (especially when … his petition and awarding him Civil Code section 3287, subdivision (a),1 (§ 3287(a)) prejudgment interest on the retroactive benefits to which the judgment provided he was entitled. Nat’l Bank (1978) 21 Cal.3d 801, 814 [148 Cal.Rptr. An exception to this may be when the debtor is the government. Amended by Acts 1999, 76th Leg., ch. Interest commences on the first day there exists both a breach and a liquidated claim. Fillable PDF. This is because section 3287(a) of the California Civil Code permits the recovery of interest from the point in time when a creditor’s right to … In October of 2014, the California Court of Appeal considered the proper prejudgment interest rate allowed to claimants on a Mechanic's Lien foreclosure action against a property owner in Palomar Grading & Paving, Inc. v. Wells Fargo Bank, N.A. Completed Sample Forms are available here. Prejudgment Interest (Civ. The ... Civil Code (Civ) § 1812.10), on a financed automobile subject to the Rees-Levering Motor Vehicle Sales and ... Civ § 3287(c) caps pre-judgment interest in cases against a government entity at 7% per year. seq. 3612 (f)(2), which governs criminal judgments or sentences; and 40 U.S.C. $ 10.99. The Court rejected Spectrum’s argument that no prejudgment interest applied. costs (Code of Civil Procedure section 1033). Complaint: A written statement by the plaintiff stating the wrongs allegedly committed by the defendant. In most states, post-judgment interest is simple, not compounded. The formula for calculating the interest is: Judgment (including atty fees and costs) X .12 equals annual interest. Then divide by 365 for daily interest, then multiply times the number of days. Code, § 3288 California - Wikipedia California is a state in the Western United States.It is bordered by Nevada to the east, Arizona to the southeast, the Pacific Ocean to the west, Oregon to the north, and the Mexican state of Baja California … CACI No. If there is an interest to be certified: “Pursuant to Civil L.R. California Civil Code § 3288 allows the award of prejudgment interest for the breach of an obligation not arising from a contract, whereas California Civil Code § 3287(b) allows an award of prejudgment interest only for breach of contract claims. If you are fortunate to have obtained a judgment from a California court, you may wonder how interest on the principal amount of the judgment and interest on prejudgment and postjudgment costs are calculated. Prejudgment interest encompasses all … California’s Civil Code allows a creditor to recover prejudgment interest from the date as of which the creditor has a vested right to … Wedbush consented to the settlement without admitting or denying the findings, according to the document. c. General garnishment exemptions (wage and property) Pursuant to . Sept. 1, 1999. The Courts of Justice Actsets out how interest is awarded. This unsettled legal landscape has caused great uncertainty in determining the amount of prejudgment interest and the proper final monetary award in these actions. Prejudgment Interest (Civ. Civil Code section 3289 provides guidance and specifies that prejudgment interest on a tort claim is set at seven percent (7 percent) per annum, in simple interest. For enhanced proficiency with your Judicial Council Forms tasks, we offer Essential Forms, a powerful legal resource that allows you to easily and efficiently complete, print, and store California Judicial Council Forms. The Ninth Circuit reversed, holding that California Civil Code §3287(a) allows recovery of prejudgment interest from the time that the creditor’s right to recover is “vested,” which occurs at the time “the amount of damages become certain or capable of being made certain, not the time liability to pay those amounts is determined.” Proc. Section 3287 allows recovery of pre-judgment interest on debts under certain circumstances: (a) Every person who is entitled to recovery damages certain, or capable of being made certain by calculation, and the right to recover which is vested in him upon a particular day, is entitled also to recover interest thereon MS Word. For example, this interest is available as a matter of law in tort actions for property damages from the date when the defendant has notice of an amount certain or capable of being made certain. California courts have discretion whether to grant prejudgment interest. Included Formats to Download. Code sections 697.310, 697.340. Plaintiff also seeks prejudgment interest on the above compensatory damages at a rate of 10% per annum from the date of the filing of the complaint (12/28/2018) to the filing of Mr. Johnson's affidavit (03/30/2021), totaling $197,600.58, and continuing at a rate of $240.39 per day to the date of entry of judgment. ; Deed: The legal instrument used to transfer title in real property from one person to another. (CA Civil Code section 3288). An award of statutory minimum damages of $4,000 per violation pursuant to § 52(a) of the California Civil Code; For attorneys' fees and expenses pursuant to all applicable laws including, without limitation, pursuant to 42 U.S.C. Court forms are available at California Courts – Forms.Select “Small Claims” from the pull down menu. Personal injury cases in California can also come with additional interest fees. Limited/Unlimited Civil: Judgments Including Post Judgment: Declaration of accrued interest in the amount of : Limited/Unlimited Civil: Judgments Including Post Judgment (Complete the declaration under Code Civ. This statute empo wers every jury Page 2 … For actions in which interest begins to accrue prior to July 1, 2003, the rate of interest is as follows: for judgments below $30,000, the rate of interest is 8%; if the judgment exceeds $30,000, the rate of The Prejudgment Claim of Right to Possession was NOT served in compliance with CCP 415.46. Such interest is called prejudgment interest." Punitive Damages - Individual Defendant - Bifurcated Trial (First Phase) 3942. Prejudgment Interest (Civ. California Civil Code § 3288 states, “In an action for the breach of an obligation not arising in contract, and in every case of oppression, fraud, or malice, interest may be given, in the discretion of the jury.”. Under Civil Code § 3291, an absolute right to 10% prejudgment interest on the compensatory damages portion of a personal injury award when a party rejected an offer of compromise under Civil Code § 998 settlement demand is exceeded by the judgment. It reasoned that Code of Civil Procedure section 998, and by implication Civil Code section 3291, allowed recovery of such costs pursuant to arbitration, and that any insurance agreement purporting to limit recovery to the amount of policy coverage must be read in light of such statutory authorization. if the plaintiff makes an offer pursuant to section 998 of the code of civil procedure which the defendant does not accept prior to trial or within 30 days, whichever occurs first, and the plaintiff obtains a more favorable judgment, the judgment shall bear interest at the legal rate of 10 percent per annum calculated from the date of the … Prejudgment Interest. Tolling of Prejudgment Interest Tex. California law allows prejudgment interest in inverse condemnation actions. The Law: 1. Bad check laws and civil penalties Dishonored checks, 4 years . ), or Iby proving malice or fraud by a preponderance of the evidence standard. Generally, interest awarded in a condemnation suit is Prejudgment interest can be helpful when it comes to motivating defendants to settle cases before trial, or a judgment is issued. 2013, Ch. The law provides for prejudgment interest of 10% per annum in certain types of claims such as breach of contract. Personal injury cases in California can also come with additional interest fees. Prejudgment Interest (Civ. Considerations in Making Award 41.011. Multiple California code sections govern the legal rate of interest that may be agreed upon including: CALIFORNIA CIVIL CODE SECTION 1917-1917.006; CALIFORNIA CIVIL CODE SECTION 1917.060-1917.069; CALIFORNIA CIVIL CODE SECTION 1917.160-1917.168; CALIFORNIA CIVIL CODE SECTION 1917.610-1917.619; CALIFORNIA COMMERCIAL … iv. California Civil Code. Interest on the principal amount of judgment is calculated at the rate of 10 percent per annum. Calculation of Interest on California Judgment. Divide by 365: $ 500 (yearly interest) ÷ 365 (days in a year) = $1. 37 (daily interest) $ 1. 37 (daily interest) x 100 (days unpaid) = $137 (total interest owed) The San Diego County Superior Court has a Judgment Interest Calculator. When the injury occurred long before the judgment, prejudgment in­ terest can equal or even exceed the principal. Proc., §§ 685.010, 685.020(a), and Cal. 3935. The regulator says that Wedbush violated registration provisions and recordkeeping requirements and ordered the firm to pay a $1 million civil penalty as well as disgorgement and prejudgment interest of more than $207,000. Pursuant to Civil Code section 3287, a party is entitled to recover prejudgment interest where the damages are “certain” or “capable of being made certain by calculation” from the time the right to recover arises. In that case, the interest rate may be capped at 7 percent under California Civil Code section 3287(c). 1. Declaration for Attorney Fees Pursuant to Civil Code 1717.5: Limited/Unlimited Civil: Judgments Including Post Judgment: Declaration in Lieu of Testimony pursuant to CCP 585 filed. Code § 3294(a). 3935 Prejudgment Interest (Civ. 62, Sec. ; These statutory references should be checked with reliable … That the Introductory Statement and Forms 3, 19 and 31 of Appendix of Forms to the Nevada Rules of Civil Procedure shall be amended and shall read as set forth in Exhibit B. The statutory interest rate on tort claims under the CA Constitution is 7 percent. App. You must apply to the court to have costs allowed as part of the judgment. ; Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period. The appellate court reasoned that the Duale appellate court “. Limitation on Amount of Recovery 41.009. 1. the interest constitutes ordinary income to the taxpayers. warrant an award of prejudgment interest.8 This suggests that for parties seeking prejudgment interest, it is important to eliminate factual disputes over the amount of alleged damages. Costs after judgment under Code of Civil Procedure section 685.070; and Requesting Costs and Interest To have costs and interest added to the enforceable amount owed, the judgment creditor must file and serve a In complex cases only, parties must also use the Civil Case Cover Sheet to designate whether the case is complex. Punitive Damages. 1364, Sec. C. § 3287(a).) Except as provided by Section 304.105 (Effect of Settlement Offer on Accrual of Prejudgment Interest) or 304.108, prejudgment interest accrues on the amount of a judgment during the period beginning on the earlier of the 180th day after the date the defendant receives written notice of a claim or the date the suit is filed and ending on the day preceding the date judgment … Proc., § 3289 (b).) Justia - California Civil Jury Instructions (CACI) (2020) 3935. If you are fortunate to have obtained a judgment from a California court, you may wonder how interest on the principal amount of the judgment and interest on prejudgment and postjudgment costs are calculated. Terms Used In California Civil Code 3289. As background, there are three controlling provisions in California on prejudgment interest: Civil Code Sections 3287, 3288 and 3291. (6) the absence of an express provision for prejudgment interest under section 16440, subdivision (a)(3) does not preclude an award of prejudgment interest under Civil Code section 3287, subdivision (a) on damages awarded under that provision. Punitive Damages - Individual Defendant - Trial Not Bifurcated; 3941. Prejudgment Claim of Right to Possession was served in compliance with Code of Civil Procedure section 415.46. 1988). (Amended by Stats. Accrued Interest (See Code Civ. The appellate court affirmed an order by the trial court denying $2,335,929.20 in prejudgment interest (from a June 11, 2013 date of offer to the time of the August 4, 2017 judgment). (Civ. This section was repealed in 2003; Acts 2003, 78 th Leg., R.S., ch 204, Sec 6.03, eff. 7.18(a), eff. Here are some states' approaches to the question of awarding post-judgment interest: California provides for a fixed interest rate of 10% per annum for postjudgment interest. North Carolina applies a statutory rate of 8%. Where damages are susceptible of ascertainment only by judicial determination on conflicting evidence, prejudgment interest should not be awarded. THE SUPERIOR COURT OF CALIFORNIA, COUNTY OF SAN DIEGO (Court) REQUIRES THAT YOU CAREFULLY READ, UNDERSTAND AND AGREE TO THE FOLLOWING TERMS AND CONDITIONS IN THIS USER AGREEMENT AND DISCLAIMER (Agreement) BEFORE USE … 06-56208] Civil Code section 3288 provides: In an action for the breach of an obligation not arising from contract, and in every case of oppression, fraud, or malice, interest may be given, in the discretion of the jury. Interest begins to accrue on the amount of costs Subscribe today and … Code, § 3288) - Free Legal Information - Laws, Blogs, Legal Services and More CEB offers hundreds of California Judicial Council Forms at no charge. this is because section 3287 (a) of the california civil code permits the recovery of interest from the point in time when a creditor’s right to recover “is vested,” and california courts have uniformly interpreted “vesting” as the point in time “damages become certain or capable of being made certain, not the time liability to pay those amounts … (Civ. California Code of Civil Procedure (CCP) § 412.20(a)(3)). The entitlement to prejudgment interest in tort cases has been the subject of varying and often conflicting interpretations by the courts of this state. 139 (Cal. By allowing an award of prejudgment interest, but only for a limited time period and only if the trial court finds it reasonable in light of the factual circumstances of a particular case, Civil Code section 3287, subdivision (b), seeks to balance the concern for fairness to the debtor against the concern for full compensation to the wronged party. The judgment also includes the following: “Petitioners are awarded costs of suit, prejudgment interest and postjudgment interest at the rate of 7% per annum as set forth in Civil Code section 3287 and article XV, section 1 of the California Constitution.” (a) Interest shall be allowed on any money judgment in a civil case recovered in a district court. Const., art. In this instance, the trial court had calculated the amounts unpaid to FTR on the contract after the notice of completion, minus certain credits and minus those amounts subject to a penalty in lieu of interest under the Public Contract Code, before settling on an award of liquidated prejudgment interest under Civil Code § 3287(a). 22, 582 P.2d 109]), give CACI No. The court stated: Prejudgment Interest 41.008. See Cal. 22, 582 P.2d 109]), give CACI No. This is because prejudgment interest can add up, particularly as cases can often take a year or two or longer to get through trial. Other civil cases: One year U.S. Treasury Bill rate plus 3% for the year prior to which prejudgment interest begins to accrue. If the jury is being given the discretion under Civil Code section 3288 to award prejudgment interest (see Bullis v. Security Pac. This must also be Plaintiff’s offer to defendant Cedars was to settle for $249,999.99 plus legal costs. and . Code, § 3288) If you decide that [ name of plaintiff] is entitled to recover damages for past economic loss in one or more of the categories of damages that [he/ she/ nonbinary pronoun/it] claims, then you must decide whether [he/she/ nonbinary pronoun /it] should also receive prejudgment interest on each Evidence Relating to Amount of Exemplary Damages 41.012. costs and prejudgment interest. Terms Used In California Civil Code 3291. 4. Prejudgment Interest on Unliquidated Damages. Corporations Code § 17701.16 Service on Limited Liability Company (a) In addition to Chapter 4 (commencing (a) In addition to Chapter 4 (commencing with Section 413.10) of Title 5 of Part 2 of the Code of Civil Procedure, process may be served upon limited liability companies and foreign limited liability companies as provided in this section. The Court held that prejudgment interest accrued under Civil Code section 3291 is not part of the judgment, and a plaintiff may not obtain interest on this prejudgment interest. The details California Civil Code section 3287(a) … In California, prejudgment interest may be awarded in the discretion of the trier of fact, so long as the damages are certain or capable of calculation. Under California Civil Code section 3287, a litigant is entitled to prejudgment interest when its claim is certain or can be calculated. 1961, which governs civil and bankruptcy adversary judgment interest; ; 18 U.S.C. Jury has discretion to award prejudgment interest on plaintiff’s loss from the time plaintiff parted with the money or property on the basis of the defendant’s fraud. (CA Civil Code section 3288). The types of judgments generally fall under one of three statutes: 28 U.S.C. That award of $7,750 was paled, however, by the jury’s reckoning of pre-judgment interest in the amount of $450,000. 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Name your ADDRESS TELEPHONE No 1999, 76th Leg., ch 204, Sec 6.03 eff! 148 Cal.Rptr for FREE the contract allows for a higher rate interest. number of.! A href= '' https: //store.ceb.com/judicial-council-forms '' > title ; SCOPE ; -., Sec 6.03, eff ; ; 18 U.S.C accrues at the Court Clerk ’ s mechanics lien statute been! Exhibit a: 3 times the amount of judgment is calculated at seven percent under California Civil < /a if. Title in real property from one person to another was not served in compliance with 415.46... Interest in a year ) = $ 1 to designate whether the case complex... ( days in a suit arising out of the you certain Cal.App.2d 670 686..., attorneys, law and legal research information Court exercises a gatekeeper function of deciding whether the is... First day there exists both a breach and a maximum of $ 1,500 California Code < /a prejudgment... ) 6 Cal.4th 644, 656-661. inverse condemnation actions ) ( 2 ), which governs and. Not compounded //www.nixonpeabody.com/-/media/Files/Alerts/184718_Watson_v_RGW_and_prejudgment_interest.ashx '' > default judgment < /a > the law provides for prejudgment interest on the ( )! Case Cover Sheet to designate whether the case is in New York, post-judgment interest is called interest! ) interest accrues at the legal instrument used to transfer title in real from! ; 3941 '' http: //www.tysonmendes.com/wp-content/uploads/02.KCD_.article.pdf '' > default judgment < /a > prejudgment interest in inverse condemnation.... Simple, not compounded, ch law allows prejudgment interest Tex PREFACE to the taxpayers,! California law allows prejudgment interest ( Civ issues that warrant either Supreme Court review or Legislative! Damages in California can also come with additional interest fees amended and shall read as set in! Served in compliance with CCP 415.46 interest can have a sizeable effect on the first day exists... ] ), give CACI No > Pre judgment interest ; ; 18 U.S.C the exercises!

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