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\fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\b\insrsid8676053\charrsid13513519 IN THE SUPREME COURT OF GUAM}{\insrsid13513519 
\par 
\par }{\b\insrsid8676053\charrsid13513519 BANK OF GUAM,}{\insrsid8676053\charrsid13513519 
\par Plaintiff-Appellee
\par 
\par }{\b\insrsid8676053\charrsid13513519 vs.}{\b\insrsid8676053\charrsid13513519 
\par 
\par }{\b\insrsid8676053\charrsid13513519 DAVID D. FLORES and WILLIAM B.S.M. FLORES,}{\b\insrsid8676053\charrsid13513519 
\par }{\insrsid8676053\charrsid13513519 Defendants-Appellants}{\insrsid13513519 
\par 
\par }{\insrsid8676053\charrsid13513519 Supreme Court Case No. CVA03-017
\par Superior Court Case No. CV1162-02}{\insrsid13513519 
\par 
\par }{\b\insrsid8676053\charrsid13513519 OPINION}{\insrsid13513519 
\par 
\par }{\b\insrsid8676053\charrsid13513519 Filed:}{\b\insrsid13513519  }{\b\insrsid8676053\charrsid13513519 December 29, 2004}{\insrsid13513519 
\par 
\par }{\b\insrsid8676053\charrsid13513519 Cite as:}{\b\insrsid13513519  }{\b\insrsid8676053\charrsid13513519 2004 Guam 25}{\b\insrsid13513519 
\par 
\par }{\insrsid8676053\charrsid13513519 Appeal from the Superior Court of Guam
\par Argued and submitted on July 16, 2004
\par Hag\'e5t\'f1a, Guam}{\insrsid13513519 
\par 
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\par }{\ul\insrsid8676053\charrsid13513519 Appearing for the Plaintiff-Appellee}{\insrsid8676053\charrsid13513519 :
\par Joaquin C. Arriola, Esq.
\par Mark E. Cowan, Esq.
\par Arriola, Cowan & Arriola
\par 259 Martyr St., Ste. 201 C&A Bldg.
\par Hag\'e5t\'f1a, Guam 96932\cell 
\par }{\ul\insrsid8676053\charrsid13513519 Appearing for the Defendants-Appellants}{\insrsid8676053\charrsid13513519 :
\par Arthur B. Clark, Esq.
\par Jennifer Ann Calvo, Esq.
\par Calvo and Clark, LLP, Attorneys at Law
\par 655 S. Marine Dr., Ste. 202
\par Tamuning, Guam 96911\cell }\pard \ql \li0\ri0\widctlpar\intbl\aspalpha\aspnum\faauto\adjustright\rin0\lin0 {\insrsid8676053\charrsid13513519 \trowd \irow0\irowband0\lastrow 
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\par BEFORE: FRANCES M. TYDINGCO-GATEWOOD, Chief Justice (Acting)}{\cs15\super\insrsid8676053\charrsid13513519 \chftn {\footnote \pard\plain \qj \fi720\li0\ri0\sa240\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {
\cs15\f39\super\insrsid8676053 \chftn }{\f39\insrsid8676053   }{\f39\fs20\insrsid8676053 
Chief Justice F. Philip Carbullido recused himself from this matter. Associate Justice Frances M. Tydingco-Gatewood, as the senior member of the panel, serves as Acting Chief Justice herein.}}}{\insrsid8676053\charrsid13513519 
; ROBERT J. TORRES, Associate Justice; PETER C. SIGUENZA, JR., Justice }{\i\insrsid8676053\charrsid13513519 Pro Tempore}{\insrsid8676053\charrsid13513519 .}{\insrsid13513519 
\par 
\par }{\b\insrsid8676053\charrsid13513519 TORRES, J.:}{\b\insrsid8676053 
\par }{\insrsid13513519\charrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [1]}{\insrsid8676053\charrsid13513519 \tab Plaintiff-Appellee the Bank of Guam foreclosed a mortgage granted by Defendants-Appellants David and William Flores (}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst 
SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 ) to
 secure a promissory note. The Bank of Guam later filed a lawsuit against the Floreses to recover the deficiency remaining due on the promissory note following the foreclosure. The Floreses counterclaimed, arguing that the Bank of Guam breached an agreeme
nt to postpone foreclosure of the mortgage and seeking specific performance regarding the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 s release of a separate mortgage. The trial court granted the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 s motion for summary judgment on all claims. The Floreses appeal the trial court}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 s judgment. We affirm in part, reverse in part, and remand this matter for further proceedings consistent with this opinion.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid8676053\charrsid13513519 I.}{\insrsid8676053\charrsid13513519 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [2]}{\insrsid8676053\charrsid13513519 \tab In December 1999, the Floreses borrowed $3,915,000.00 from the Bank of Guam pursuant to a Promissory Note (}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 Note}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
) secured by a mortgage on properties in Hag\'e5t\'f1a and Mangilao, Guam (}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 Mortgage}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 ).}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
The Note and Mortgage were accompanied by a Loan Agreement (}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 Loan}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 ). The Loan proceeds were to be used in part to acquire and renovate the D}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL
 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 Flores Capitol Building, formerly known as Pedro}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid8676053\charrsid13513519 s Plaza, in Hag\'e5t\'f1a, Guam.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [3]}{\insrsid8676053\charrsid13513519 \tab The Bank of Guam sent a notice to the Floreses on Decemb
er 11, 2000 that the Floreses were in default under the Note for failure to make their required payments. The notice also informed the Floreses that if the default was not cured within thirty days, the full amount due on the Note of $4,128,125.43 would be
 
accelerated and be immediately due and payable. The Floreses did not cure the default and the Bank of Guam recorded its Notice of Default and of Acceleration of Indebtedness with the Department of Land Management. The Bank of Guam then recorded its Notice
 of Sale under Power of Sale in Mortgage with the Department of Land Management, scheduling the foreclosure sale for March 27, 2001. 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [4]}{\insrsid8676053\charrsid13513519 \tab David Flores subsequently wrote to the Bank of Guam regarding the default and ongoing renovations underway at the Hag\'e5t\'f1
a property and requested that the foreclosure proceedings be briefly delayed to give him a chance }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
to secure the additional financing necessary to complete the project and bring his loan current.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 Appellee}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s Supplemental Excerpts of Record (}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst 
SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 SER}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 ), tab 2 (Cowan}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s Decl., Ex. L-1 (Ltr. from Att}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 y Stephanie Flores to Att}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 y Cowan of 02/16/01)). The Bank of Guam granted the request for a postponement 
of the foreclosure sale, with no concessions required from the Floreses, and rescheduled the foreclosure sale for April 26, 2001. On April 25, 2001 the Bank of Guam and David Flores executed an Agreement for Extension (}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 Extension Agreement}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid8676053\charrsid13513519 ) postponing the foreclosure sale for at least forty-five days, but no more than sixty days from the then scheduled date of the foreclosure sale.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
Under the terms of the Extension Agreement, the Bank of Guam agreed to postpone the April 26, 2001 foreclosure sale in exchange for the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid8676053\charrsid13513519  efforts in renovating the Hag\'e5t\'f1a property and the Floreses granting the Bank of Guam additional collateral with a mortgage over certain Yigo property (}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 Yigo Mortgage}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 ). Appellant}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s Excerpts of Record (}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 ER}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 ), tab 5 (David Flores}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 Decl., Ex. F (Extension Agreement, p. 1)).}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 The Bank of Guam subsequently scheduled the foreclosure sale for June 26, 200
1. On June 26, 2001, the Bank of Guam again extended the foreclosure sale date, this time until August 28, 2001. The foreclosure sale occurred on August 28, 2001.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [5]}{\insrsid8676053\charrsid13513519 \tab The Bank of Guam filed the underlying lawsuit against the Floreses in the Superior Court 
of Guam for the recovery of the deficiency remaining due on the Note following the foreclosure of the Mortgage.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
The Floreses answered and counterclaimed, alleging that the Bank of Guam breached the Extension Agreement by going forward with the foreclosure sale, and seeking specific performance and release of the Yigo Mortgage.}{\insrsid13513519  }{
\insrsid8676053\charrsid13513519 The Bank of Guam later moved for summary judgment upon its complaint and upon the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  counterclaim.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 The trial court issued its Decision and Order granting the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s motion for summary judgment, resulting in a judgment in the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s favor for $1,027,526.65 and the Floreses taking nothing upon their counterclaim. The Floreses appealed.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid8676053\charrsid13513519 II.
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [6]}{\insrsid8676053\charrsid13513519 \tab This court has jurisdiction over this appeal from a final judgment. Title 7 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  3107 (2004).
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [7]}{\insrsid8676053\charrsid13513519 \tab A trial court}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
s decision granting a motion for summary judgment is reviewed }{\i\insrsid8676053\charrsid13513519 de novo}{\insrsid8676053\charrsid13513519 . }{\i\insrsid8676053\charrsid13513519 Edwards v. Pac. Fin. Corp.}{\insrsid8676053\charrsid13513519 
, 2000 Guam 27, }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7; }{\i\insrsid8676053\charrsid13513519 Manvil Corp. v. E.C. Gozum & Co.,}{
\insrsid8676053\charrsid13513519  1998 Guam 20, }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  6; }{\i\insrsid8676053\charrsid13513519 
Iizuka Corp. v. Kawasho Int}{\i\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\i\insrsid8676053\charrsid13513519 l (Guam), Inc.}{\insrsid8676053\charrsid13513519 , 1997 Guam 10, }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7. In rendering a decision on a motion for summary judgment, the court 
must draw inferences and view the evidence in a light most favorable to the non-moving party. }{\i\insrsid8676053\charrsid13513519 Edwards}{\insrsid8676053\charrsid13513519 , 2000 Guam 27 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL
 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7. }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
If the movant can demonstrate that there ar
e no genuine issues of material fact, the non-movant cannot merely rely on allegations contained in the [pleadings] . . . , but must produce at least some significant probative evidence tending to support the [pleadings] . . . .}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Id.}{\insrsid8676053\charrsid13513519  Thus, this court}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 ultimate inquiry is to determine whether the }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 specific fact}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 set forth by the nonmoving party, coupled with undisputed background or contextual facts, are such that a rational or reasonable jury might return a verdict in its favor based on that evidence.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL
 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Id. }{\insrsid8676053\charrsid13513519 (citing }{\i\insrsid8676053\charrsid13513519 Iizuka}{
\insrsid8676053\charrsid13513519 , 1997 Guam 10 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  8). 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [8]}{\insrsid8676053\charrsid13513519 \tab }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
The court may grant summary judgment pursuant to Rule 56 of the Guam Rules of Civil Procedure when }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
the pleadings, depositions, answers to interrogatories, and admissions on file, together with the affidavits, if any, show that there is no genuine issue as to any material fact and that the moving party is entitled to a judgment as a matter of law.}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Manvil}{\insrsid8676053\charrsid13513519 , 1998 Guam 20 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  6 (quoting Guam R. Civ. P. 56(c)). }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
A material fact is one that is relevant to an element of a claim or defense and whose existence might affect the outcome of the suit. Disputes over irrelevant or unnecessary facts will not preclude a grant of summary judgment.}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Edwards}{\insrsid8676053\charrsid13513519 , 2000 Guam 27 at }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7 (quoting }{\i\insrsid8676053\charrsid13513519 Iizuka}{\insrsid8676053\charrsid13513519 
, 1997 Guam 10 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7). }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 [T]he mere existence of }{\i\insrsid8676053\charrsid13513519 some}{\insrsid8676053\charrsid13513519 
 alleged factual dispute between the parties will not defeat an otherwise properly supported motion for summary judgment; the requirement is that there be no }{\i\insrsid8676053\charrsid13513519 genuine}{\insrsid8676053\charrsid13513519  issue of }{
\i\insrsid8676053\charrsid13513519 material}{\insrsid8676053\charrsid13513519  fact.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{
\i\insrsid8676053\charrsid13513519 Anderson v. Liberty Lobby, Inc.}{\insrsid8676053\charrsid13513519 , 477 U.S. 242, 247-48, 106 S. Ct. 2505, 2510 (1986) (emphasis in original). }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 As to materiality, the substantive law will identify which facts are material. Only disputes ove
r facts that might affect the outcome of the suit under the governing law will properly preclude the entry of summary judgment. Factual disputes that are irrelevant or unnecessary will not be counted.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst 
SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Id.}{\insrsid8676053\charrsid13513519  at 248, 106 S. Ct. at 2510. }{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 There is a genuine issue, if there is }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 sufficient evidence}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 which establishes a factual dispute requiring resolution by a fact-finder.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{
\i\insrsid8676053\charrsid13513519 Iizuka Corp.}{\insrsid8676053\charrsid13513519 , 1997 Guam 10 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 7.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid8676053\charrsid13513519 III.
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [9]}{\insrsid8676053\charrsid13513519 \tab The Floreses argue that questions of material fact remain in dispute which preclude summary judgment.}{\cs15\super\insrsid8676053\charrsid13513519 \chftn {\footnote 
\pard\plain \qj \fi720\li0\ri0\sa240\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\cs15\f39\super\insrsid8676053 \chftn }{\f39\insrsid8676053   }{\f39\fs20\insrsid8676053 
The scope of this appeal is quite narrow. The Floreses argue only that summary judgment was inappropriate because questions of material fact exist regarding an Agreement for Extension (}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 Extension Agreement}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 
) entered into by the parties on April 25, 2001. The Floreses do not challenge that they were in default under the terms of their Note due to non-payment, or that the Bank of Guam had accelera
ted the amounts due under the Note, or that the Floreses had not tendered the entire accelerated amount that was due. The Floreses also do not challenge the non-judicial foreclosure procedures undertaken by the Bank of Guam or the judgment amount. Any iss
ues related to such matters are undisputed.}}}{\insrsid8676053\charrsid13513519  They contend first that the term }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 as it appears in the Extension Agreement is ambiguous, they should be allo
wed to introduce extrinsic evidence to explain the ambiguity and summary judgment is inappropriate because a question of material fact exists regarding whether the mutual benefit available to the Floreses under the Extension Agreement includes cancellatio
n of the foreclosure sale and reinstatement of the Loan.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
Secondly, the Floreses argue that a material fact remains in dispute regarding whether they performed their obligations under the Extension Agreement sufficiently to entitle them to its benefits, including release of the Yigo Mortgage.}{\insrsid13513519  
}{\insrsid8676053\charrsid13513519 We first consider the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  argument that the term }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 is ambiguous. 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 A.}{\b\insrsid13513519  }{\b\insrsid8676053\charrsid13513519 The Extension Agreement}{\insrsid8676053\charrsid13513519  }{\b\insrsid8676053\charrsid13513519 and Admissibility of}{\insrsid8676053\charrsid13513519  }{
\b\insrsid8676053\charrsid13513519 Parole Evidence}{\insrsid8676053\charrsid13513519 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [10]}{\insrsid8676053\charrsid13513519 \tab The Floreses assert that the term }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  in the Extension Agreement is 
ambiguous and susceptible to a meaning that not only includes the potential benefit to them of postponement of the foreclosure sale, but also reinstatement of the Loan.}{\cs15\super\insrsid8676053\charrsid13513519 \chftn {\footnote \pard\plain 
\qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\cs15\f39\super\insrsid8676053 \chftn }{\f39\insrsid8676053  }{\f39\fs20\insrsid8676053 
The Extension Agreement reads, in pertinent part, as follows:
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f39\fs20\insrsid8676053 
\par }\pard \qj \fi720\li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0 {\f39\fs20\insrsid8676053 This Agreement is made by and between BANK OF GUAM (}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 10}{\fldrslt
\f36\fs20}}}{\f39\fs20\insrsid8676053 Bank}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 ) and DAVID D.L. FLORES (}{\f39\fs20\insrsid8676053 {\field{\*\fldinst 
SYMBOL 65 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 Flores}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 
) with respect to a foreclosure sale scheduled by Bank for April 26, 2001, at 10:00 A.M., of property owned by Flores. Flores desires an extension of such foreclosure sale, and Bank agrees to extend the foreclosure sale for a period of at least 
45 but not more than 60 days from the currently scheduled date thereof on the following terms and conditions:
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f39\fs20\insrsid8676053 
\par }\pard \qj \fi720\li1440\ri1440\nowidctlpar\faauto\rin1440\lin1440\itap0 {\f39\fs20\insrsid8676053 1. Flores shall complete or cause to be completed construction and renovation work upon the mortgaged real property located in Hag\'e5t\'f1
a, Guam, in accordance with the Contract (the }{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 Contract}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 ) dated April 25, 2001, between David Flores dba Resource Developers and Reksa Guam Pacific Builders (}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 Reksa}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 
) and shall perform all his obligations thereunder. . . .
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f39\fs20\insrsid8676053 
\par }\pard \qj \fi720\li1440\ri720\nowidctlpar\faauto\rin720\lin1440\itap0 {\f39\fs20\insrsid8676053 2. Flores shall grant to Bank [the Yigo Mortgage] . . .
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f39\fs20\insrsid8676053 
\par }\pard \qj \fi720\li1440\ri1440\nowidctlpar\faauto\rin1440\lin1440\itap0 {\f39\fs20\insrsid8676053 3. . . . as additional security for the obligations outstanding and secured by the existing mortgages held by [the] Bank and for Flores}{
\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053  further obligations under this Agreement.
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f39\fs20\insrsid8676053 
\par }\pard \qj \fi720\li1440\ri1440\nowidctlpar\faauto\rin1440\lin1440\itap0 {\f39\fs20\insrsid8676053 4. Upon satisfactory completion of work under the Contract, and payment of all obligati
ons by Flores to Reksa of costs of such work, the Bank shall release its Mortgage upon the Yigo property. . . .
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f39\fs20\insrsid8676053 
\par }\pard \qj \fi720\li1440\ri1440\nowidctlpar\faauto\rin1440\lin1440\itap0 {\f39\fs20\insrsid8676053 5. This Agreement is given for the purpose of allowing Flores the opportunity to complete necessary construction and renovation work upon the m
ortgaged real property to the }{\b\f39\fs20\insrsid8676053 mutual benefit}{\f39\fs20\insrsid8676053  of Flores and Bank, and at Flores}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{
\f39\fs20\insrsid8676053  sole cost and expense. The Mortgage on the Yigo property herein provided is given in consideration of the extension herein provided,
 and further to give additional collateral to the Bank as security in the event Flores fails to complete the renovation work at his sole cost and expense as herein provided within the duration of this extension. 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f39\fs20\insrsid8676053 
\par }\pard \qj \li1440\ri720\nowidctlpar\faauto\rin720\lin1440\itap0 {\f39\fs20\insrsid8676053 . . . . 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 {\f39\insrsid8676053 
\par }\pard \qj \li0\ri0\sa240\nowidctlpar\faauto\rin0\lin0\itap0 {\f39\fs20\insrsid8676053 Appellant}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 
s ER, tab 5 (David Flores}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053  Decl., Ex. F (Extension Agreement) (emphasis added)).}}}{\insrsid13513519  }{
\insrsid8676053\charrsid13513519 Interpretation of a contract to determine what is intended by its various provisions is properly done by considering the contract as a whole and not by considering a particular part of the contract in isolation. }{
\i\insrsid8676053\charrsid13513519 Stewart Title Co. v. Herbert}{\insrsid8676053\charrsid13513519 , 96 Cal. Rptr. 631, 634-35 (Ct. App. 1970). A particular term cannot be considered }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 ambiguous}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 in some detached or abstract sense, but rather must be considered in the context of both the instrument containing it as well as the circumstances of the entire case.}{\insrsid13513519  }{\i\insrsid8676053\charrsid13513519 Avemco Ins. Co. v. Davenport}{
\insrsid8676053\charrsid13513519 
, 140 F.3d 839, 843 (9th Cir. 1998). Thus, to determine whether the term is ambiguous on its face, we must review the Extension Agreement and the circumstances under which it was made in order to consider the meaning and function of the term }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid13513519  }{\i\insrsid8676053\charrsid13513519 Producers Dairy Delivery Co. v. Sentry Ins. Co.}{\insrsid8676053\charrsid13513519 , 718 P.2d 920, 927 n.7 (Cal. 1986).
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [11]}{\insrsid8676053\charrsid13513519 \tab The general rule under Guam law is that }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 a contract in writing . . . supercedes all the negotiations or stipulations concerning its matter which preceded or accompanied the execution of the instrument.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL
 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Title 18 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  86107 (1994). }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
When a contract is reduced to writing, the intention of the parties is to be ascertained from the writing alone, if possible . . . .}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  Title 18 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  87105 (1994). }{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 A contract must receive such an interpretation as will make it lawful, operative, definite, reasonable, and capable of
 being carried into effect, if it can be done without violating the intention of the parties.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 Title 18 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  87109 (1994). 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [12]}{\insrsid8676053\charrsid13513519 \tab The introductory paragraph of the Extension Agreement provides that }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 [David] Flores desires an extension of such foreclosure sale, and Bank agrees to extend the foreclosure sale for a period of at least 45 but not more than 60 days from the currently
 scheduled date thereof on the following terms and conditions.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Appellant}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s ER, tab 5 (David Flores}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Decl., Ex. F (Extension Agreement, p. 1)).}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 Paragraph 5 of the Extension Agreement mentions the term }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Id}{\insrsid8676053\charrsid13513519 .}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
(Extension Agreement, p. 2). The Floreses argue that the term }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 is ambiguous and that such ambiguity creates a question of material fact regarding the consideration for the Extension Agreement. 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [13]}{\insrsid8676053\charrsid13513519 \tab Courts have hel
d that when an obligation is ripe for enforcement and the party entitled to enforce the obligation agrees to postpone such enforcement for a period of time in exchange for a promise, such postponement is sufficient consideration for the promise. }{
\i\insrsid8676053\charrsid13513519 See Levine v. Tobin}{\insrsid8676053\charrsid13513519 , 26 Cal. Rptr. 273, 274-75 (Ct. App. 1962).}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
Viewing the terms of the Extension Agreement in light of the rules for interpretation of contracts found in Title 18 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}
{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 87107 and 87109, we find that the consideration received by the Floreses for the Extension Agreement consisted of the postponement of the foreclosure sale and the consideration received by the Bank of Guam was the Floreses}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  promises to improve the Hag\'e5t\'f1
a property and to grant additional collateral with the Yigo Mortgage.}{\cs15\super\insrsid8676053\charrsid13513519 \chftn {\footnote \pard\plain \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 
{\cs15\f39\super\insrsid8676053 \chftn }{\f39\insrsid8676053  }{\f39\fs20\insrsid8676053 As discussed further }{\i\f39\fs20\insrsid8676053 infra}{\f39\fs20\insrsid8676053 
, the Extension Agreement expressly allowed for release of the Yigo Mortgage upon satisfactory completion of the construction and renovation work on the Hag\'e5t\'f1a property and payment of all obligations by the Floreses to the contractor.}{
\f39\insrsid8676053 
\par }}}{\insrsid8676053\charrsid13513519  18 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}{\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  87107, 87109.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 Title 18 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  87105 further makes clear that any negotiations concerning the consideration for the Extension Agreement which preceded the Extension Agreement}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s execution are superceded by the terms of the written instrument. 18 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  87105.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [14]}{\insrsid8676053\charrsid13513519 \tab Regarding potential contract ambiguities, }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 [i]t is a question of law whether a contractual provision is ambiguous.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 E.M. Chen & Assocs., v. Lu Island Dev., Inc., }{\insrsid8676053\charrsid13513519 Civ. No. 93-00017A, 1993 WL 469348, at *3 (D. Guam App. Div. Oct. 21, 1993). }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 A contract is ambiguous when, on its face, it is capable of two different reasonable interpretations.}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Id.}{\insrsid8676053\charrsid13513519  (quoting }{
\i\insrsid8676053\charrsid13513519 Southland Corp. v. Emerald Oil Co.,}{\insrsid8676053\charrsid13513519  789 F.2d 1441, 1444 n.2 (9th Cir. 1986)). }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 [I]f the meaning a layperson would ascribe to contract language is not ambiguous, we apply that meaning.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Avemco Ins. Co.,}{\insrsid8676053\charrsid13513519  140 F.3d at 842 (quoting }{\i\insrsid8676053\charrsid13513519 
AIU Ins. Co. v. Superior Court (FMC Corp.)}{\insrsid8676053\charrsid13513519 , 799 P.2d 1253, 1264 (Ca. 1990)). However, }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 [i]t is a well-settled principle that if a contract is ambiguous on its face, a court must look to extrinsic evidence to interpret the contract.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 E.M. Chen & Assocs.}{\insrsid8676053\charrsid13513519 , 1993 WL 469348, at *3.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [15]}{\insrsid8676053\charrsid13513519 \tab The Floreses argue that parole, or }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 extrinsic,}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  evidence should be admissib
le to support their claim that the term }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  is ambiguous 
and that its meaning may have included a potential benefit to the Floreses of cancellation of the foreclosure sale and reinstatement of the Loan. The Bank of Guam urges that parole evidence should not be considered because the term }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  is unambiguous on the face of the Extension Agreement. 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [16]}{\insrsid8676053\charrsid13513519 \tab Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
s parole evidence rule, codified at Title 6 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  2511, provides:
\par }\pard \qj \li0\ri720\nowidctlpar\faauto\rin720\lin0\itap0\pararsid13513519 {\insrsid13513519 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid13513519 {\insrsid8676053\charrsid13513519 
When the terms of an agreement have been reduced to writing by the parties, it is to be considered as containing all those terms, and therefore there can be between the parties and their representatives, or succ
essors in interest, no evidence of the terms of the agreement other than the contents of the writing, except in the following cases:
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\insrsid8676053\charrsid13513519 
\par }\pard \qj \li1440\ri1440\nowidctlpar\faauto\rin1440\lin1440\itap0\pararsid13513519 {\insrsid8676053\charrsid13513519 1. Where a mistake or imperfection of the writing is put in issue by the pleadings; or
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\insrsid8676053\charrsid13513519 
\par }\pard \qj \fi720\li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid13513519 {\insrsid8676053\charrsid13513519 2. Where the validity of the agreement is the fact in dispute.
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\insrsid8676053\charrsid13513519 
\par }\pard \qj \li720\ri720\nowidctlpar\faauto\rin720\lin720\itap0\pararsid13513519 {\insrsid8676053\charrsid13513519 But }{\i\insrsid8676053\charrsid13513519 this Section does not exclude other evidence }{\insrsid8676053\charrsid13513519 
of the circumstances under which the agreement was made or to which it relates, as defined in }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 2515 [Circumstances to be Considered], or }{\i\insrsid8676053\charrsid13513519 to explain an extrinsic ambiguity}{\insrsid8676053\charrsid13513519 
, or to establish illegality or fraud. The term agreement includes deeds and wills, as well as contracts between parties.
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\insrsid8676053\charrsid13513519 
\par Title 6 GCA }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 39 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  2511 (1994). (Emphasis added.)
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [17]}{\insrsid8676053\charrsid13513519 \tab W
hen the parties have reduced the terms of an agreement to a writing, section 2511 prohibits the introduction of any evidence of the terms of the agreement other than the contents of the writing, except where a mistake or imperfection of the writing is an 
issue or where the validity of the agreement is in dispute. }{\i\insrsid8676053\charrsid13513519 Id. }{\insrsid8676053\charrsid13513519 Section 2511 does not, however, exclude other evidence to explain an extrinsic ambiguity.}{\insrsid13513519  }{
\i\insrsid8676053\charrsid13513519 Id. }{\insrsid8676053\charrsid13513519 The Floreses assert the trial court erred when it excluded the parole evidence offered because such evidence was to explain an extrinsic ambiguity and therefore the Bank of Guam}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s summary judgment motion should have been denied.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [18]}{\insrsid8676053\charrsid13513519 \tab In order to determine whether the trial court properly excluded the parole evidence offered by the Floreses, we must decide whether the term }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  is unambiguous and clear on its face or whether the term is capable of two different reasonable interpretations. }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst 
SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 [I]n contract cases, summary judgment is appropriate only if the contract or the contract provision in question is unambiguous.}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 E.M. Chen & Assocs.,}{\insrsid8676053\charrsid13513519 
1993 WL 469348, at *3 (quoting}{\i\insrsid8676053\charrsid13513519  Castaneda v. Dura-Vent Corp.}{\insrsid8676053\charrsid13513519 , 648 F.2d 612, 619 (9th Cir.1981)); }{\i\insrsid8676053\charrsid13513519 
see United Bhd. of Carpenters and Joiners of America, Lathers Local 42-L v. United Bhd. of Carpenters and Joiners of America, }{\insrsid8676053\charrsid13513519 73 F.3d 958 (9th Cir. 1996);}{\i\insrsid8676053\charrsid13513519 
 Maffei v. N. Ins. Co. of New York}{\insrsid8676053\charrsid13513519 , 12 F.3d 892 (9th Cir. 1993). We agree with the trial court that the term }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  i
n the Extension Agreement is unambiguous and does not include the benefit to the Floreses of cancellation of the foreclosure sale and reinstatement of the Loan; therefore, summary judgment was appropriately entered on this issue.}{\insrsid13513519  }{
\insrsid8676053\charrsid13513519 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [19]}{\insrsid8676053\charrsid13513519 \tab Under the Extension Agreement, David Flores agreed to complete certain renovation work at the Hag\'e5t\'f1
a property. He also agreed to provide the Bank of Guam with the Yigo Mortgage as additional security for the outstanding obligations to the Bank of Guam and to secure the further obligations under the Extension Agreement. The Bank of Guam}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s obligation pursuant to the Extension Agreement was }{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 to extend the foreclosure sale for a period of at least 45 but not more than 60 days}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  from the then-scheduled sale date of April 26, 2001. Appellant}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s ER, tab 5 (David Flores}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  Decl., Ex. F (Extension Agreement)). The Extension Agreement was given }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 for the purpose of allowing Flores the opportunity to complete necessary construction and renovation work upon the mortgaged real property to the mutual benefit of Flores and Bank, and at Flores}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  sole cost and expense.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Appellant}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
s ER, tab 5 (David Flores}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Decl., Ex. F (Extension Agreement, p. 2)). 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [20]}{\insrsid8676053\charrsid13513519 \tab The term }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 is unambiguous and does not include the potential benefit to the Floreses of complete cancellation of the foreclosure sale. Even if the Floreses performed their obligations under the Extension Agreement,}{\insrsid13513519  }{
\insrsid8676053\charrsid13513519 they would not have been entitled to cancellation of the foreclosure sale and reinstatement of the Loan under the terms of the Extension Agreement. Allowing the Floreses the opportunity to complete the construction and}{
\insrsid13513519  }{\insrsid8676053\charrsid13513519 renovation work on the Hag\'e5t\'f1a property is the specific action that would be mutually 
beneficial to the Bank of Guam and the Floreses. The Extension Agreement is clear on its face that this was the intended meaning of the term }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  at the tim
e the Extension Agreement was reduced to writing by the parties. The benefit of the renovations to the Floreses is obvious - they owned the property at the time and were improving it. Even if the foreclosure were to go forward, the value of the improvemen
t
s would likely result in a higher foreclosure sale price, thus any deficiency amount remaining due on the loan following the foreclosure sale would be decreased. Likewise, the Bank of Guam would benefit from the renovations because the property secured a 
defaulted loan with an outstanding balance due in excess of four million dollars }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 66 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 any increase in the value of the collateral would certainly benefit the lender.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 Therefore, any improvements to the collateral would clearly be to the }{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  of}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 the lender/mortgagee, the Bank of Guam, and the borrower/mortgagor, the Floreses.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [21]}{\insrsid8676053\charrsid13513519 \tab Having concluded the term }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 in the Extension Agreement is unambiguous and cannot reasonably be interpreted to include a potential benefit to the Floreses of cancellation of the foreclosure sale and reinstatement of the Loan, we now address the Floreses}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 argument that a material fact remains in dispute regarding whether the Floreses performed sufficiently under the Extension Agreement to entitle them to the benefits of the Agreement, including release of the Yigo Mortgage.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 B.}{\b\insrsid13513519  }{\b\insrsid8676053\charrsid13513519 Performance under the Extension Agreement}{\insrsid8676053\charrsid13513519 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [22]}{\insrsid8676053\charrsid13513519 \tab The Floreses argue that summary judgment was further precluded by the existence of a factual dispute regarding whether the
y sufficiently performed under the Extension Agreement to entitle them to the benefits under the Extension Agreement. We agree that this question of fact remains in dispute, but disagree that it is material to all of the claims raised in this case.}{
\insrsid13513519  }{\insrsid8676053\charrsid13513519 Instead, the material fact which remains in dispute, whether the Floreses sufficiently performed under the Extension Agreement, concerns only the counterclaim seeking release of the Yigo Mortgage.

\par }{\b\insrsid13513519 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid8676053\charrsid13513519 1.}{\b\insrsid13513519  }{\b\insrsid8676053\charrsid13513519 The Fact in Dispute}{\b\insrsid8676053 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\insrsid13513519\charrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [23]}{\insrsid8676053\charrsid13513519 \tab As we previously stated, in rendering a decision on summary judgment, we must draw inferences and view the evidence in a light most favorable to the non-moving party. }{
\i\insrsid8676053\charrsid13513519 Edwards}{\insrsid8676053\charrsid13513519 , 2000 Guam 27 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7.}{
\insrsid13513519  }{\insrsid8676053\charrsid13513519 It is undisputed that the Extensi
on Agreement was originally to run for at least forty-five days but no more than sixty days from April 26, 2001. However, the parties dispute what effect the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s subsequent postponement of the June 26,
 2001 foreclosure sale to August 28, 2001 had on the Extension Agreement. The Floreses argue that the Extension Agreement was extended, giving the Floreses until at least the August 28, 2001 sale date to perform their obligations under the Agreement.}{
\insrsid13513519  }{\insrsid8676053\charrsid13513519 The Floreses assert that by July 27, 2001 the renovations to the Hag\'e5t\'f1a property were sufficiently complete and the building was ready for occupancy.}{\insrsid13513519  }{
\insrsid8676053\charrsid13513519 Accordingly, they should be entitled to the benefits provided under the Extension Agreement including release of the Yigo Mortgage.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
The Bank of Guam argues that its postponement of the sale to August 28, 2001 was a unilateral decision that did not further extend the terms of the Extension Agreement or the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  entitlement to benefits under the Extension Agreement.}{\cs15\super\insrsid8676053\charrsid13513519 \chftn {\footnote \pard\plain 
\qj \fi720\li0\ri0\sa240\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\cs15\f39\super\insrsid8676053 \chftn }{\f39\insrsid8676053   }{\f39\fs20\insrsid8676053 
The Floreses do not argue that the August 28, 2001 foreclosure sale was untimely under the Extension Agreement and that issue is not before us.}}}{\insrsid8676053\charrsid13513519  The Bank of Guam disputes that the Floreses eventually 
completed the renovations and in any event the renovations were not completed within the original maximum sixty days provided by the Extension Agreement, thus the Floreses are not entitled to any benefits the Agreement may have offered.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [24]}{\insrsid8676053\charrsid13513519 \tab Paragraph 1 of the Extension Agreement required the Floreses to complete the renovations to the Hag\'e5t\'f1a property }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst 
SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 in accordance with the Contract (}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 the Contract}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
) dated April 25, 2001, between David Flores dba Resource Developers and Reksa Guam Pacific Builders (}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 Reksa}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 ).}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL
 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Appellant}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 s ER, tab 5 (David Flores}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 Decl., Ex. F (Extension Agreement, p. 1)). Paragraph 5 states that }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
[t]his Agreement is given for the purpose of allowing Flores the opportunity to complete necessary construction and renovation work upon the mortgaged real property . . . within the duration of this extension}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Id.}{\insrsid8676053\charrsid13513519  at 2. Although paragraph 5 does not define the term }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 necessary,}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  the contract must be read together as one document. Paragraph 1 clearly requires Flores to }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 complete or cause to be completed construction and renovation work upon the}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid8676053\charrsid13513519  Hag\'e5t\'f1a property }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 in a
ccordance with the Contract.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Id.}{
\insrsid8676053\charrsid13513519  at 1. A review of the Reska Contract makes clear that the original contractor defaulted leaving the project incomplete and necessitating the Contract with Reska in order to complete the project.}{\insrsid13513519  }{
\i\insrsid8676053\charrsid13513519 See }{\insrsid8676053\charrsid13513519 Appellant}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
s ER, tab 5 (David Flores}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 Decl., Ex. G (Reska Contract)). The obligations of the original contractor are not apparent as the original contract was not provided to the court.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 The Reska Contract does provide, however, that }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 the Project has been idled [sic] over the past 90 days}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  and }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 [i]n order for the Project to generate revenues, it must be functional and ready for occupancy.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Id. }{\insrsid8676053\charrsid13513519 We can therefore reasonably infer that the original contract, which Reska agreed to complete, contemplated finishing the renovations to the Hag
\'e5t\'f1a property so that the premises could be occupied by tenants.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [25]}{\insrsid8676053\charrsid13513519 \tab In considering whether the Floreses sufficiently performed their obligations under the Extension Agreement, we observe that cou
nsel for the Bank of Guam provided a copy of the June 26, 2001 Postponement of Sale under Power of Sale in Mortgage to the Floreses and stated in an accompanying letter that, }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 [a]t [the] request of Mr. Flores, Ba
nk of Guam agreed to a further extension of the foreclosure sale. . . . Mr. Flores should keep the Bank of Guam informed of his progress with respect to the building.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Appellee}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
s SER, tab 2 (Cowan Decl., Exs. GG (Postponement of Sale under Power of Sale in Mortgage) and}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 HH (Ltr. from Att}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 y Cowan to Att}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
y Stephanie Flores of 06/27/01)).We also are mindful that the new foreclosure sale date of August 28, 2001 was sixty-three days later than the previously scheduled date of June 26, 2001. Furthermore, ample evidence exists in the record that the Bank of Gu
am}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s representative Mike Naholowaa inspected the Hag\'e5t\'f1
a property on several occasions after June 26, 2001 and before the August 28, 2001 foreclosure sale date.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 While it is true that a lender with a security inte
rest over a parcel of property has an inherent interest in the state of his collateral, when this evidence is taken in a light most favorable to the Floreses, a reasonable inference can be drawn that the Bank of Guam inspections were occurring not simply 
because the property was collateral for the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
s loan, but to monitor the progress of the renovations required by the Extension Agreement.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [26]}{\insrsid8676053\charrsid13513519 \tab We conclude that when all the evidence before the court is 
viewed in a light most favorable to the Floreses, for the purposes of considering whether the Floreses performed sufficiently under the Extension Agreement it is not unreasonable for the trier of fact to conclude the Extension Agreement was extended to Au
gust 28, 2001.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
Although the Reska Contract states that the renovations were to be completed within forty-five days of April 25, 2001, an essential purpose of the Extension Agreement was to allow Flores to complete the construction. Therefore, it is also a 
reasonable inference that the Floreses had until August 28, 2001 to }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
complete or cause to be completed construction and renovation work upon the}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Hag\'e5t\'f1
a property. Appellant}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s ER, tab 5 (David Flores}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst 
SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Decl., Ex. F (Extension Agreement, p. 1)).
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [27]}{\insrsid8676053\charrsid13513519 \tab Now we must consider, in a light most favorable to the Floreses, whether a factual dispute exists concerning the Floreses}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  completion of the renovations required under the Extension Agreement. }{\i\insrsid8676053\charrsid13513519 Edwards}{
\insrsid8676053\charrsid13513519 , 2000 Guam 27 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [28]}{\insrsid8676053\charrsid13513519 \tab Evidence w
as submitted to the court from both sides regarding the ongoing renovations that occurred during the period the Extension Agreement was in effect, which we have held was through August 28, 2001.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
This evidence included information regarding potential tenants for the premises and supposed commitments from such tenants to occupy the building submitted by the Floreses as well as evidence submitted by the Bank of Guam indicating the Floreses}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  failure to complete the required renovations. }{\i\insrsid8676053\charrsid13513519 See generally }{
\insrsid8676053\charrsid13513519 Appellant}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s ER, tabs 4-6 (William and David Flores Decls.); Appellee}
{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s SER, tab 1 (Mike Naholowaa Decl.). The Floreses additionally s
ubmit that even if they did not fully complete the required work on the Hag\'e5t\'f1a property, their }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 62 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 substantial performance}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 should be considered in any determination of whether they are entitled to the benefits of the Extension Agreement. Again, we must draw inferences and view the evidence in a light most favorable to the non-movin
g party in rendering a decision on summary judgment. }{\i\insrsid8676053\charrsid13513519 Edwards}{\insrsid8676053\charrsid13513519 , 2000 Guam 27 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7. 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [29]}{\insrsid8676053\charrsid13513519 \tab Considering the evidence before the court and the inferences that can reasonably be drawn from such evidence, we determine 
that a question of fact remains in dispute regarding whether or not the Floreses performed sufficiently under the Extension Agreement to entitle them to the Extension Agreement benefits.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
In order to preclude the grant of a motion for a summary judgment, however, this disputed fact must be a }{\i\insrsid8676053\charrsid13513519 genuine }{\insrsid8676053\charrsid13513519 issue of }{\i\insrsid8676053\charrsid13513519 material }{
\insrsid8676053\charrsid13513519 fact.}{\insrsid13513519  }{\i\insrsid8676053\charrsid13513519 Liberty Lobby}{\insrsid8676053\charrsid13513519 , 477 U.S. at 247-48, 106 S. Ct. at 2510 (emphasis in original).
\par }{\b\insrsid13513519 
\par }\pard \qj \fi720\li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid8676053\charrsid13513519 2.}{\b\insrsid13513519  }{\b\insrsid8676053\charrsid13513519 Materiality}{\insrsid8676053\charrsid13513519 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [30]}{\insrsid8676053\charrsid13513519 \tab }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
A material fact is one that is relevant to an element of a claim or defense and whose existence might affect the outcome of the suit. Disputes over irrelevant or unnecessary facts will not preclude a grant of summary judgment.}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Edwards}{\insrsid8676053\charrsid13513519 , 2000 Guam 27 at }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7 (citing }{\i\insrsid8676053\charrsid13513519 Iizuka}{\insrsid8676053\charrsid13513519 
, 1997 Guam 10 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7).}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst 
SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 [T]he mere existence of }{\i\insrsid8676053\charrsid13513519 some}{\insrsid8676053\charrsid13513519  alleged factual dispute between the
 parties will not defeat an otherwise properly supported motion for summary judgment; the requirement is that there be no }{\i\insrsid8676053\charrsid13513519 genuine}{\insrsid8676053\charrsid13513519  issue of }{\i\insrsid8676053\charrsid13513519 
material}{\insrsid8676053\charrsid13513519  fact.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Liberty Lobby}
{\insrsid8676053\charrsid13513519 , 477 U.S. at 247-48, 106 S. Ct. at 2510 (emphasis in original). }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
As to materiality, the substantive law will identify which facts are material. Only disputes over facts that might affect the outcome of the suit under the governing law will properly preclu
de the entry of summary judgment. Factual disputes that are irrelevant or unnecessary will not be counted.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Id.}{\insrsid8676053\charrsid13513519  at 248, 106 S. Ct. at 2510. 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [31]}{\insrsid8676053\charrsid13513519 \tab The Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
s sole claim sought the deficiency balance due following foreclosure of the Mortgage securing the Note. The Bank of Guam moved for summary judgment on its sole claim as well as both of the claims within the Floreses}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  counterclaim. The Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid8676053\charrsid13513519  first counterclaim cause of action was for breach of contract claiming the Bank of Guam violated the Extension Agreement by proceeding with the foreclosure sale since the Agreemen
t allegedly provided that the sale would be postponed and the Loan reinstated if the Floreses performed sufficiently. We have already ruled that the Extension Agreement did not include such a benefit to the Floreses and that the Bank of Guam}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s right to proceed with the foreclosure sale of the Hag\'e5t\'f1
a property was unrelated to the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 performance under the Extension Agreement. As we previously determined, even if th
e Floreses completed their obligations under the Extension Agreement, they would not have been entitled to cancellation of the foreclosure sale and reinstatement of the Loan under the terms of the Extension Agreement.}{\insrsid13513519  }{
\insrsid8676053\charrsid13513519 Therefore, the fact remaining in dispute, whether the Floreses sufficiently performed under the Agreement, is not material to either the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s claim or the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  breach of contract claim as it cannot be said that the fact}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s }{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 existence might affect the outcome of the suit.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst 
SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  }{\i\insrsid8676053\charrsid13513519 Edwards}{\insrsid8676053\charrsid13513519 , 2000 Guam 27 at }{\insrsid8676053\charrsid13513519 {\field{\*\fldinst 
SYMBOL 38 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  7. Since the fact in dispute is not material to either the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s claim or the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  breach of contract claim for reinstatement of the Loan, we hold that summary judgment was appropriately granted on those claims.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [32]}{\insrsid8676053\charrsid13513519 \tab The Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 second counterclaim cause of action for specific performance sought the release of th
e Yigo Mortgage. Pursuant to the Extension Agreement, the Floreses were responsible for completing renovations in accordance with the Reska contract. The Extension Agreement also granted the Bank of Guam the Yigo Mortgage and stated in relevant part that 
}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
[u]pon satisfactory completion of work under the Contract, . . . , the Bank shall release its Mortgage upon the Yigo property.}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519  Appellant}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s ER, tab 5 (David Flores}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  Decl., Ex. F (Extension Agreement, p. 1)). Although the trial court}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s Decision and Order granted the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s motion for summary judgment in its entirety, the court did not specifically discuss the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  specific performance cause of action in its Decision and Order or the effect of the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  performance on the release of the Yigo Mortgage. Subsequently, the August 5, 2003 Judgment prepared by counsel for the Bank of Guam stated that }{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 Defendants take nothing upon their counterclaim herein,}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  which included both the Floreses breach of contract cause of action and their specific performance cause of action seeking release of the Yigo Mortgage.}{
\insrsid13513519  }{\insrsid8676053\charrsid13513519 Appellant}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s ER, tab 8 (Judgment, p. 2). 
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [33]}{\insrsid8676053\charrsid13513519 \tab Based on the language of the Extension Agreement regarding the Yigo Mortgage, we find that the fact in dispute, whether the Floreses sufficiently completed their obligations 
under the Extension Agreement, is material to the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  claim for release of the Yigo Mortgage.}{
\cs15\super\insrsid8676053\charrsid13513519 \chftn {\footnote \pard\plain \qj \fi720\li0\ri0\sa240\nowidctlpar\faauto\rin0\lin0\itap0 \fs24\lang1033\langfe1033\cgrid\langnp1033\langfenp1033 {\cs15\f39\super\insrsid8676053 \chftn }{\f39\insrsid8676053  }{
\f39\fs20\insrsid8676053 Indeed, at oral argument before this court on July 16, 2004, counsel for the Bank of Guam appeared to concede 
that an issue of fact may remain in dispute as to whether the Floreses had performed sufficiently to trigger release of the Yigo Mortgage. Without agreeing that the Floreses performed sufficiently, the Bank of Guam}{\f39\fs20\insrsid8676053 
{\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053 
s counsel indicated this disputed fact was not material to the Bank of Guam and it was prepared to release the Yigo Mortgage. Accordingly, the fact finding of the Floreses}{\f39\fs20\insrsid8676053 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols"
 \\s 10}{\fldrslt\f36\fs20}}}{\f39\fs20\insrsid8676053  performance may not be necessary on remand.   }}}{\insrsid8676053\charrsid13513519  Accordingly, because we determine that a question of material fact exists regarding the sufficiency of the Floreses
}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  performance under the Extension Agreement, summary judgment is inappropriate on that claim.
\par 
\par }\pard \qc \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid8676053\charrsid13513519 IV.}{\insrsid8676053\charrsid13513519 
\par }\pard \qj \li0\ri0\nowidctlpar\faauto\rin0\lin0\itap0\pararsid13513519 {\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [34]}{\insrsid8676053\charrsid13513519 \tab We hold that the term}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 65 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{
\insrsid8676053\charrsid13513519 mutual benefit}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 64 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 in the Extension Agreement is unambiguous, therefore, no fact remains in dispute regarding whether the term includes a potential benefit to the Floreses of cancellation of the foreclosure sale and reinstatement of the Loan. We further determine that a fa
ctual dispute remains regarding whether the Floreses sufficiently performed under the Extension Agreement to entitle them to benefits provided under the Agreement. However, the fact remaining in dispute is material only to the Floreses}{
\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  specific performance counterclaim cause of action seeking release of the Yigo Mortgage.
\par }{\b\insrsid13513519 
\par }{\b\insrsid8676053\charrsid13513519 [35]}{\insrsid8676053\charrsid13513519 \tab Accordingly, we }{\b\insrsid8676053\charrsid13513519 AFFIRM}{\insrsid8676053\charrsid13513519  the trial court}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL
 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s grant of summary judgment as to the Bank of Guam}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt
\f36\fs24}}}{\insrsid8676053\charrsid13513519 s claim for deficiency and as to the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 
 first counterclaim cause of action for breach of contract.}{\insrsid13513519  }{\insrsid8676053\charrsid13513519 We }{\b\insrsid8676053\charrsid13513519 REVERSE}{\insrsid8676053\charrsid13513519  the trial court}{\insrsid8676053\charrsid13513519 
{\field{\*\fldinst SYMBOL 61 \\f "WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519 s grant of summary judgment as to the Floreses}{\insrsid8676053\charrsid13513519 {\field{\*\fldinst SYMBOL 61 \\f 
"WP TypographicSymbols" \\s 12}{\fldrslt\f36\fs24}}}{\insrsid8676053\charrsid13513519  second counterclaim cause of action for specific performance. The matter is }{\b\insrsid8676053\charrsid13513519 REMANDED}{\insrsid8676053\charrsid13513519 
 for further proceedings consistent with this opinion.
\par }}