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LAND OF LINCOLN GOODWILL v. PNC FINANCIAL SERVS.

No. 13-2860.

762 F.3d 673 (2014)

LAND OF LINCOLN GOODWILL INDUSTRIES, INC., an Illinois Not for Profit Corporation, Plaintiff-Appellant, v. The PNC FINANCIAL SERVICES GROUP, INC., a/k/a PNC Bank, NA, a national bank, Defendant-Appellee.

United States Court of Appeals, Seventh Circuit.

Decided August 12, 2014.

Attorney(s) appearing for the Case

Thomas J. Immel , Attorney, Feldman, Wasser, Draper & Cox, Springfield, IL, for Plaintiff-Appellant.

Todd Andrew Rowden , Attorney, Thompson Coburn , Chicago, IL, for Defendant-Appellee.

Before EASTERBROOK, KANNE, and ROVNER, Circuit Judges.

ROVNER, Circuit Judge.

When Land of Lincoln Goodwill Industries, Inc. ("Goodwill") informed its lender, PNC Financial Services Group, Inc. ("PNC"), that it intended to pay off the balance of its twenty-year loan early, PNC notified Goodwill that it would owe a prepayment charge in excess of $300,000. Goodwill filed suit seeking a declaratory judgment that it owes no such fee under the terms of its agreement with PNC. The district court concluded otherwise. It reasoned...

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