US Fidelity v. Lee Investments LLC, et al

Filing 951

ORDER VACATING Judgment, signed by Chief Judge Lawrence J. O'Neill on 4/17/17. (Marrujo, C)

1 SHEPPARD, MULLIN, RICHTER & HAMPTON LLP
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A Limited Liability Partnership
Including Professional Corporations
PAUL S. MALINGAGIO, Cal. Bar No. 90451
[e-mail]
333 South Hope Street, 43rd Floor
Los Angeles, California 90071-1422
Telephone:
213.620.1780
Facsimile:
213.620.1398

6 Attorneys for
LEE INVESTMENTS LLC dba THE ISLAND,
7 RICHARD K. EHRLICH, REXFORD
PROPERTIES, LLC, REXFORD
8 DEVELOPMENT CORPORATION

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UNITED STATES DISTRICT COURT

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EASTERN DISTRICT OF CALIFORNIA

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UNITED STATES FIDELITY &
13 GUARANTY COMPANY, a Maryland
Corporation,

Case No. CIV F-99 5583-LJO-SMS

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Plaintiff,
STIPULATION AND ORDER VACATING
JUDGMENT

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v.

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LEE INVESTMENTS LLC dba THE
ISLAND, a California Limited Liability
Company, RICHARD K. EHRLICH, an
individual, REXFORD PROPERTIES, LLC, a
California Limited Liability Company,
REXFORD DEVELOPMENT
CORPORATION, a California Corporation,
and DIANA CONLEY, an individual
Defendants.

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SMRH:480948830.2

STIPULATION AND ORDER VACATING JUDGMENT

STIPULATION

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Plaintiff United States Fidelity & Guaranty Company (“USF&G”) and Defendant Lee

3 Investments LLC (“Lee” and together with USF&G, the “Parties”), submit this Stipulation in
4 connection with the above-captioned lawsuit.
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WHEREAS:

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1.

On August 5, 2009, this Court entered a judgment against Lee and in favor of

7 USF&G in the original amount of $1,517,201.20 (the “Lee Judgment”);
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2.

Pursuant to that certain Settlement Agreement and Mutual Release of all Claims

9 (the “Settlement Agreement”) dated as of February 27, 2017, the Parties have settled the disputes
10 between them, including Lee’s liability for the Lee Judgment;
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3.

Pursuant to the Settlement Agreement, the Parties have agreed that the Lee

12 Judgment be vacated and that a full satisfaction of judgment and release of lien be executed by
13 USF&G and filed and recorded.
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NOW, THEREFORE, IT IS HEREBY STIPULATED by and between the Parties, through

15 their respective counsel of record, that:
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1.

The Lee Judgment entered in this case on August 5, 2009 be VACATED.

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2.

In consideration of the above, USF&G provides the full satisfaction of judgment

18 and release of lien attached hereto as Exhibit 1, acknowledging that the Lee Judgment has been
19 satisfied in full, and Lee may file and record the same.
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SMRH:480948830.2

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IT IS SO STIPULATED.

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2 Dated: 3/21/2017
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SHEPPARD, MULLIN, RICHTER & HAMPTON LLP

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By

/S/
PAUL S. MALINGAGIO

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Attorneys for Defendant
LEE INVESTMENTS LLC

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8 Dated: 3/21/2017
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THE GRANT LAW FIRM

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By

/S/
MILES D. GRANT

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Attorneys for Plaintiff
UNITED STATES FIDELITY & GUARANTY
COMPANY

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ORDER

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Pursuant to the stipulation of the Parties, the Lee Judgment in favor of USF&G is

18 hereby VACATED. All other aspects of the judgment entered August 5, 2009 remain in
19 force.
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21 IT IS SO ORDERED.
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Dated:

/s/ Lawrence J. O’Neill _____

April 17, 2017

UNITED STATES CHIEF DISTRICT JUDGE

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SMRH:480948830.2

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