Bank of America, N.A. v. Elkhorn Community Association et al

Filing 75

ORDER granting 74 STIPULATION of Dismissal with Prejudice re Claims Against Elkhorn Community Association. Signed by Judge Richard F. Boulware, II on 7/20/2020. (Copies have been distributed pursuant to the NEF - DRS)

Case 2:16-cv-00524-RFB-NJK Document 75 Filed 07/21/20 Page 1 of 3

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ARIEL E. STERN, ESQ.
Nevada Bar No. 8276
SCOTT R. LACHMAN, ESQ.
Nevada Bar No. 12016
AKERMAN LLP
1635 Village Center Circle, Suite 200
Las Vegas, Nevada 89134
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
Email: [e-mail]

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Attorneys for Bank of America, N.A.

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UNITED STATES DISTRICT COURT

AKERMAN LLP

1635 VILLAGE CENTER CIRCLE, SUITE 200
LAS VEGAS, NEVADA 89134
TEL.: [phone] – FAX: [phone]

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DISTRICT OF NEVADA

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BANK OF AMERICA, N.A.,

Case No.: 2:16-cv-00524-RFB-NJK

Plaintiff,

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v.

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STIPULATION AND ORDER
DISMISSING CLAIMS AGAINST
ELKHORN COMMUNITY
ASSOCIATION

ELKHORN COMMUNITY ASSOCIATION;
SFR INVESTMENTS POOL 1, LLC;
ABSOLUTE COLLECTION SERVICES, LLC,

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Defendants.

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SFR INVESTMENTS POOL 1, LLC,

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Counter/Cross Claimant,

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v.

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BANK OF AMERICA, N.A.; and DEBORAH S.
LIENING, an individual,

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Counter/Cross Defendants.

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Plaintiff Bank of America, N.A. (BANA) and defendant Elkhorn Community Association
(Elkhorn) stipulate as follows:

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1.

This matter relates to real property located at 7905 Mountain Point Avenue, Las

Vegas, Nevada 89131 (the property).
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Case 2:16-cv-00524-RFB-NJK Document 75 Filed 07/21/20 Page 2 of 3

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2.

BANA is the beneficiary of record of a deed of trust recorded against the property

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with the Clark County Recorder on December 6, 2002, as Instrument No. 20021206-00383 (the deed

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of trust), executed by Deborah S. Liening.

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3.

On August 14 2013, Elkhorn recorded a trustee's deed upon sale with the Clark

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County Recorder, as Instrument No. 201308140001799 (the HOA foreclosure deed), reflecting that

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defendant SFR Investments Pool I, LLC acquired the property at a foreclosure sale of the property

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held on August 13, 2013 (the HOA foreclosure sale).

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4.

United States District Court for the District of Nevada, Case No. 2:16-cv-00524.

AKERMAN LLP

1635 VILLAGE CENTER CIRCLE, SUITE 200
LAS VEGAS, NEVADA 89134
TEL.: [phone] – FAX: [phone]

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On March 9, 2016, BANA initiated this quiet title action related to the property in the

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BANA and Elkhorn have entered into a confidential settlement agreement in which

they have settled all claims between them in this case.

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6.

Among other things in the settlement agreement, Elkhorn agrees it no longer has an

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interest in the property for purposes of this quiet title action vis a vis the deed of trust. This

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disclaimer of interest does not apply to the continuing encumbrance of Elkhorn's declaration of

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covenants, conditions and restrictions, any governing documents adopted thereunder, easements,

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servitudes, or other interests on the property. Elkhorn agrees it will take no position in this action or

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in any subsequent action regarding whether the deed of trust survived the HOA foreclosure sale.

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The parties agree that as between BANA and Elkhorn, the deed of trust was not extinguished by the

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HOA foreclosure sale.

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7.

Among other things in the agreement, BANA and Elkhorn agree that BANA does not

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waive its right to seek relief against the non-settling parties, including but not limited to SFR

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Investments Pool I, LLC or Absolute Collection Services, LLC related to its remaining claims in the

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quiet title action. BANA does not admit the deed of trust was extinguished, and any consideration

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exchanged in exchange for the dismissal of the claims against Elkhorn is not intended to be

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compensation for any loss of the deed of trust, but instead compensates for fees and costs BANA

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incurred litigating the propriety and effect of Elkhorn's sale and related conduct.

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Case 2:16-cv-00524-RFB-NJK Document 75 Filed 07/21/20 Page 3 of 3

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8.

BANA and Elkhorn further stipulate and agree all claims between them are dismissed

with prejudice, with each party to bear its own attorney's fees and costs.

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Dated this 17th day of July, 2020

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AKERMAN LLP

1635 VILLAGE CENTER CIRCLE, SUITE 200
LAS VEGAS, NEVADA 89134
TEL.: [phone] – FAX: [phone]

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AKERMAN LLP

BOYACK ORME & ANTHONY

/s/ Scott R. Lachman
ARIEL E. STERN, ESQ.
Nevada Bar No. 8276
SCOTT R. LACHMAN, ESQ.
Nevada Bar No. 12016
1635 Village Center Circle, Suite 200
Las Vegas, NV 89134

/s/ Edward D. Boyack
EDWARD D BOYACK, ESQ.
Nevada Bar No. 5229
7432 W Sahara Ave. Ste. 101
Las Vegas, NV 89117
Attorney for Elkhorn Community Association

Attorneys for Bank of America, N.A.

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IT IS SO ORDERED.
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DATE: ____________________

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________________________________
RICHARD F. BOULWARE, II
UNITED STATES DISTRICT JUDGE
UNITEDSTATES DISTRICT JUDGE

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2:16-cv-00524-RFB-NJK
DATED this 20th day of July, 2020.

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