U.S. Bank National Association v. Washington & Sandhill Homeowners Association et al

Filing 39

ORDER Granting 38 Stipulation of Dismissal. Signed by Judge Richard F. Boulware, II on 9/11/2019. (Copies have been distributed pursuant to the NEF - JQC)

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MELANIE D. MORGAN, ESQ.
Nevada Bar No. 8215
JARED M. SECHRIST, ESQ.
Nevada Bar No. 10439
AKERMAN LLP
1635 Village Center Circle, Suite 200
Las Vegas, NV 89144
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
Email: [e-mail]
Attorneys for U.S. Bank National Association, as
Trustee for the Specialty Underwriting and
Residential Finance Trust Mortgage Loan AssetBacked Certificates Series 2007-BC1
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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U.S. BANK NATIONAL ASSOCIATION, AS
TRUSTEE
FOR
THE
SPECIALTY
UNDERWRITING
AND
RESIDENTIAL
FINANCE TRUST MORTGAGE LOAN
ASSET-BACKED CERTIFICATES, SERIES
2007-BC1,

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Plaintiff,
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v.

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WASHINGTON
&
SANDHILL
HOMEOWNERS ASSOCIATION, AND SFR
INVESTMENTS POOL 1, LLC,

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Defendants.

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50113633;1

Case No.: 2:16-cv-01601-RFB-DJA
STIPULATION AND ORDER TO
DISMISS WASHINGTON & SANDHILL
HOMEOWNERS ASSOCIATION

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Plaintiff U.S. Bank National Association, as Trustee for the Specialty Underwriting and

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Residential Finance Trust Mortgage Loan Asset-Backed Certificates Series 2007-BC1 (U.S. Bank)

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and Defendant Washington & Sandhill Homeowners Association (Washington & Sandhill) stipulate

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as follows pursuant to the Court's Minute Order, ECF No. 29:

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1.

This matter relates to real property located at 920 Villa Crest Court, Las Vegas, NV

89110, APN No. 140-30-612-018, described as:

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LOT 18 IN BLOCK 2 OF WASHINGTON & SANDHILL – UNIT 2, AS SHOWN BY
MAP THEREOF ON FILE IN BOOK 88, OF PALTS, PAGE 76 IN THE OFFICE
OF THE COUNTY RECORDER OF CLARK COUNTY, NEVADA.

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AKERMAN LLP

(the property).

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

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2.

U.S. Bank is the beneficiary of record of a deed of trust encumbering the property

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recorded with the Clark County Recorder on September 29, 2006, as Instrument No. 20060929-

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0002291.

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3.

On October 1, 2013, Alessi & Koenig, LLC recorded a trustee's deed upon sale with the

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Clark County Recorder, as Instrument No. 201310010000140, reflecting Defendant SFR Investments

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Pool 1, LLC purchased the property at a foreclosure sale of the property held on September 25, 2013

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(the foreclosure deed).

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4.

U.S. Bank and Washington & Sandhill have entered into a confidential settlement

agreement by which they have settled all claims between them in this case.

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5.

Among other things in the settlement agreement, Washington & Sandhill agrees it no

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longer has an interest in the property for purposes of this action vis a vis the deed of trust. This

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disclaimer of interest does not apply to the continuing encumbrance of Washington & Sandhill's

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declaration of covenants, conditions and restrictions, and any governing documents adopted

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thereunder, easements, servitudes, or other rights and interests in the property as governed by NRS

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chapter 116. Washington & Sandhill further agrees it will take no position in this action or in any

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subsequent action regarding whether the deed of trust survived Washington & Sandhill's foreclosure

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sale.

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6.

Among other things in the settlement agreement, U.S. Bank and Washington &

Sandhill agree that U.S. Bank does not waive its right to seek relief against the non-settling parties,
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50113633;1

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including but not limited to SFR Investments Pool 1, LLC related to its remaining claims in this

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action. U.S. Bank does not admit the deed of trust was extinguished, and any consideration exchanged

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for the dismissal of the claims against Washington & Sandhill is not intended to be compensation for

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any loss of the deed of trust, but instead compensates U.S. Bank for fees incurred in litigating the

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propriety and effect of Washington & Sandhill's foreclosure sale and related conduct.

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7.

U.S. Bank and Washington & Sandhill further stipulate and agree that all claims in this

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matter asserted by U.S. Bank against Washington & Sandhill are dismissed in their entirety with

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

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AKERMAN LLP

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

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U.S. Bank and Washington & Sandhill request the Court enter an order approving this
stipulation.

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DATED September 10, 2019.

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AKERMAN LLP

GORDON REES SCULLY MANSUKHANI, LLP

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/s/ Jared M. Sechrist
MELANIE D. MORGAN, ESQ.
Nevada Bar No. 8215
JARED M. SECHRIST, ESQ.
Nevada Bar No. 10439
1635 Village Center Circle, Suite 200
Las Vegas, NV 89134

/s/ Dione C. Wrenn
ROBERT S. LARSEN, ESQ.
Nevada Bar No. 7785
DIONE C. WRENN, ESQ.
Nevada Bar No. 13285
300 South Fourth Street, Suite 1550
Las Vegas, NV 89101

Attorneys for Plaintiff U.S. Bank National
Association, as Trustee for the Specialty
Underwriting and Residential Finance Trust
Mortgage Loan Asset-Backed Certificates
Series 2007-BC1

Attorneys for Defendant Washington & Sandhill
Homeowners Association

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IT IS SO ORDERED.
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______________________________________
RICHARD F. BOULWARE, II
UNITED STATES DISTRICT JUDGE

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Case No.: 2:16-cv-01601-RFB-DJA

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September 11, 2019
DATED ______________________________

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1116675/47294819v.2

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50113633;1