Opinion ID: 522905
Heading Depth: 1
Heading Rank: 4

Heading: The ATM Agreement Fee

Text: 26 The district court concluded, as a matter of law, that the $35,000 fee paid by GBSB to TNB was for the initial right to participate in the ATM system in 1981 and that GBSB received full consideration therefor. 8 The fee was a one-time, non-refundable payment for the initial capital improvement costs that were necessary to put together the structure from which the ATM system could be operated. 27 When the settled rules of contract construction are applied, it is clear the district court's interpretation of the agreement was correct. Written contracts are interpreted primarily by looking to the language of the instrument in an attempt to ascertain the true intentions of the parties. Universal CIT Credit Corp. v. Daniel, 150 Tex. 513, 243 S.W.2d 154, 157-58 (1951). The record establishes that both parties understood the fee to be a one-time, non-refundable fee. GBSB is not entitled to any refund on the fee.
28 The district court also awarded $12,633.25 plus interest for other unpaid ATM service fees incurred by GBSB prior to June 28, 1982. The FDIC on appeal does not dispute this finding except to the extent that it asserts TNB sued the wrong party for recovery. The FDIC argues that even if the claim is valid, it is not recoverable against the FDIC Corporate, but against the FDIC Receiver. We find FDIC's argument without merit. 29 Under the case of Interfist Bank Abilene, N.A. v. FDIC, 777 F.2d 1092 (5th Cir. 1985), this undisputed amount is properly set off in full as a contract claim against GBSB's contract claims against TNB.