U.S. Bank Trust, N.A. v. SFR Investments Pool1, LLC

Filing 69

ORDER granting 68 Stipulation for Dismissal without prejudice; Signed by Judge Andrew P. Gordon on 12/3/2020. (Copies have been distributed pursuant to the NEF - JM)

Case 2:16-cv-00741-APG-NJK Document 69 Filed 12/03/20 Page 1 of 4

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WRIGHT, FINLAY & ZAK, LLP
Robert A. Reither, Esq.
Nevada Bar No. 1206
Aaron D. Lancaster, Esq.
Nevada Bar No. 10115
[e-mail]
7785 W. Sahara Ave., Suite 200
Las Vegas, Nevada 89117
[phone]; Fax: [phone]
Attorney for Plaintiff, U.S. Bank Trust, N.A., as Trustee for LSF8 Master Participation Trust

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UNITED STATES DISTRICT COURT

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DISTRICT OF NEVADA

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U.S. BANK TRUST, N.A., AS TRUSTEE FOR Case No.: 2:16-cv-00741-APG-NJK
LSF8 MASTER PARTICIPATION TRUST,

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Plaintiff,
v.

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SFR INVESTMENTS POOL 1, LLC;
GLENEAGLES HOMEOWNERS
ASSOCIATION; NEVADA ASSOCIATION
SERVICES, INC.; DOES I through X and ROE
CORPORATIONS I through X,

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STIPULATION AND ORDER TO
DISMISS REMAINING CLAIMS
WITHOUT PREJUDICE AND FOR NRCP
54(b) CERTIFICATION

Defendants

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Plaintiff U.S. Bank Trust, N.A., as Trustee for LSF8 Master Participation Trust (“U.S.

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Bank”) and Defendant Gleneagles Homeowners Association (“HOA”) (collectively, the

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“Parties” and individually, a “Party”) by and through their respective attorneys of record, and

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hereby stipulate and agree as follows:

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WHEREAS:

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1.

The instant action is primarily one for Quiet Title and Declaratory Relief related

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to real property commonly known as 3833 White Quail Ct., Henderson, Nevada 89032

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(“Property”), which was purportedly purchased by Defendant, SFR Investments Pool 1, LLC

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(“SFR”) at a homeowners association lien foreclosure sale on May 17, 2013 (the “HOA Sale”).

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Case 2:16-cv-00741-APG-NJK Document 69 Filed 12/03/20 Page 2 of 4

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2.

The Property lies within the boundaries of a common-interest community

governed by HOA.

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3.

Pursuant to U.S. Bank’s Complaint filed on April 4, 2016 [ECF No. 1], U.S.

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Bank alleges that the HOA Sale did not serve to extinguish its security interest in the Property

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for various reasons or, in the alternative, the HOA Sale was void and ineffective.

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4.

Judgment [ECF Nos. 56 and 57].

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On August 27, 2020, SFR and U.S. Bank filed competing Motions for Summary

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On October 15, 2020, the Court entered its Order (1) Denying Bank’s Motion for

Summary Judgment and (2) Granting SFR’s Motion for Summary Judgment [ECF No. 64]
(“Order”).

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6.

U.S. Bank filed a Notice of Appeal on November 16, 2020 [ECF No. 65].

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7.

U.S. Bank’s claims against the HOA and Nevada Association Services, Inc.

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(“NAS”) remain pending.

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NOW THEREFORE, IT IS HEREBY STIPULATED AND AGREED that U.S.
Bank’s claims are hereby dismissed in their entirety without prejudice.

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IT IS FURTHER STIPULATED AND AGREED by the Parties to request that the

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Court enter an order determining that the Order [ECF No. 64] may be certified as a final

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appealable Order pursuant to NRCP 54(b).

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IT IS FURTHER STIPULATED AND AGREED as follows:

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1.

The period of time commencing April 4, 2016 (the “Effective Date”) and

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ending on the Termination Date (as that term is defined in paragraph 4 below), shall not be

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included in determining the applicability of any statute of limitations, laches, or any other

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defense based on lapse of time in any action or proceeding brought by U.S. Bank against the

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HOA and NAS with respect to the HOA Sale, the Property, and Complaint;

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Case 2:16-cv-00741-APG-NJK Document 69 Filed 12/03/20 Page 3 of 4

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2.

Except as is set forth in the preceding paragraph, nothing in this Stipulation shall

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diminish or affect any defense available to any Party as of the date of this Stipulation, and this

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Stipulation shall not be deemed to revive any claim, remedy, and/or cause of action, legal or

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equitable, that is or was already barred as of the Effective Date, nor shall this Stipulation create

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any new claim, remedy, and/or cause of action, legal or equitable, against any Party hereto.

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Nothing in this Stipulation, or in the circumstances that gave rise to this Stipulation shall be

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construed as an acknowledgement by any Party that any claim, remedy, and/or cause of action,

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legal or equitable, has or has not been barred, or is about to be barred, by the statute of

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limitations, laches, or other defense based on the lapse of time;

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3.

This Stipulation shall not operate as an admission of liability by any Party.

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Neither this Stipulation nor any action taken pursuant to this Stipulation shall be offered or

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received in evidence in any action or proceeding as an admission of liability or wrongdoing by

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any Party;

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4.

Upon completion of U.S. Bank’s Appeal before the Ninth Circuit Court, this

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Stipulation with respect to U.S. Bank’s claims against the HOA and NAS will terminate. The

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Termination Date shall be the first business day following thirty (30) days after the final order is

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issued by the Ninth Circuit Court of Appeals on U.S. Bank’s Appeal;

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5.

This Stipulation comprises the entire agreement of the Parties with respect to the

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tolling of any statute of limitations.

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supplemented only by a written instrument signed by all of the Parties; and

This Stipulation may be modified, amended, or

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Case 2:16-cv-00741-APG-NJK Document 69 Filed 12/03/20 Page 4 of 4

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6.

Except as set forth hereinabove, the Parties reserve any and all rights, privileges,

claims and defenses under applicable law.

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IT IS SO STIPULATED.

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DATED this 3rd day of December, 2020.

DATED this 3rd day of December, 2020.

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WRIGHT, FINLAY & ZAK, LLP

HALL, JAFFE & CLAYTON, LLP

/s/ Aaron D. Lancaster
Aaron D Lancaster, Esq.
Nevada Bar No. 10115
7785 W. Sahara Ave., Ste. 200
Las Vegas, NV 89117
Attorneys for Plaintiff

/s/_Ashlie L. Surur______________________
Ashlie L. Surur, Esq.
Nevada Bar No. 11290
7425 Peak Drive
Las Vegas, NV 89128
Attorneys
for
Defendant,
Gleneagles
Homeowners Association

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IT IS SO ORDERED.
December 3
DATED _________________, 2020

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_______________________________________
UNITED STATES DISTRICT COURT JUDGE

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