IN THE UNITED STATES COURT OF APPEALS FOR THE FIFTH CIRCUIT United States Court of Appeals Fifth Circuit

FILED No. 18-60229 December 5, 2018 Lyle W. Cayce VOLVO FINANCIAL SERVICES, a division of VFS US, L.L.C., Clerk

Plaintiff - Appellee v. ELVIS WILLIAMSON,

Defendant - Appellant

Appeal from the United States District Court for the Southern District of Mississippi

Before JOLLY, DENNIS, and HIGGINSON, Circuit Judges. PER CURIAM: This is an appeal from the district court’s award of a deficiency judgment in the amount of $296,956.62, plus interest, costs, and attorney’s fees, to Volvo Financial Services. Volvo sued Elvis Williamson for breach of contract after he defaulted on payments under eight separate promissory notes. The district court granted summary judgment in favor of Volvo. Williamson now appeals. I1 Elvis Williamson purchased eight commercial trucks from Volvo Financial Services, a division of VFS US, L.L.C. (Volvo), between April 2014

1 The parties do not dispute the facts giving rise to this action. Case: 18-60229 Document: 00514749226 Page: 2 Date Filed: 12/05/2018

No. 18-60229 and June 2015. Williamson and Volvo executed a separate “Secured Promissory Note” (Note) for each of the eight trucks, and each Note listed an individual truck as collateral for the monetary amount listed therein. Each Note contained the same customer contract number, and each was executed on a different date. Additionally, each Note contained the same cross- collateralization clause, which stated the following: Security Interest: In order to secure (i) payment of the Indebtedness, all other debts and obligations at any time owed by Borrower to Lender or its affiliates, and (ii) complete and full performance of any Loan Party’s obligations to Lender under the Loan Documents, now existing or at any time entered into, Borrower hereby grants to Lender a security interest in and to the equipment described above (the “Equipment”), together with all present and future attachments . . . “Loan Documents” means this Note; all other loans made by, or other obligations of Borrower to Lender or any affiliate of Lender . . . and all other agreements or documents evidencing, guaranteeing, securing, or otherwise relating to this Note, as any or all of such documents may be executed or amended from time to time. Moreover, all of the Notes provided that an “Event of Default” would occur, inter alia, by the “. . . [f]ailure by any Loan Party to pay when due (i) any amount due under any of the Loan Documents.” Williamson defaulted under the terms of the Notes, and Volvo sent Williamson several notices of sale for the trucks. Volvo thereafter took possession of and sold the trucks listed in Notes 001–004 in February 2016 and Note 005 in November 2016. With respect to Note 006, Volvo received insurance proceeds for the truck listed therein, which suffered a total loss, on June 29, 2016. Volvo subsequently repossessed the trucks listed in Notes 007 and 008 and sold them on March 17, 2017. Thereafter, Volvo sent Williamson eight separate demand letters listing the deficiency balance it claimed Williamson still owed on each truck after its sale.

2 Case: 18-60229 Document: