Federal National Mortgage Association et al v. Desert Shores Community Association et al

Filing 24

ORDER Granting 23 STIPULATION of Final Judgment Confirming Existence and Validity of Deed of Trust. FINAL JUDGMENT resolving all claims in this case with prejudice, each party to bear its own fees and costs. Signed by Judge Richard F. Boulware, II on 7/10/17. (Copies have been distributed pursuant to the NEF - MMM)

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MELANIE D. MORGAN, ESQ.
Nevada Bar No. 8215
JESSE A. RANSOM, ESQ.
Nevada Bar No. 13565
AKERMAN LLP
1160 Town Center Drive, Suite 330
Las Vegas, NV 89144
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
Email: [e-mail]
Attorneys for Plaintiff Federal National
Mortgage Association and Bank of America,
N.A.

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UNITED STATES DISTRICT COURT

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DISTRICT OF NEVADA

AKERMAN LLP

1160 TOWN CENTER DRIVE, SUITE 330
LAS VEGAS, NEVADA 89144
TEL.: [phone] – FAX: [phone]

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FEDERAL NATIONAL MORTGAGE
ASSOCIATION; BANK OF AMERICA, N.A.,
Plaintiff,
vs.

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STIPULATION AND ORDER OF FINAL
JUDGMENT CONFIRMING EXISTENCE
AND VALIDITY OF DEED OF TRUST

DESERT SHORES COMMUNITY
ASSOCIATION; SILVER STREAM
ADVISORS, LLC; NEVADA ASSOCIATION
SERVICES, INC.,
Defendants.

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Case No.: 2:16-cv-02831-RFB-GWF

Plaintiffs Bank of America, N.A. (BANA) and Federal National Mortgage Association
(Fannie Mae), Defendant Desert Shores Community Association (HOA), and Defendant Silver
Stream Advisors, LLC (Silver Stream), through their counsel of record, stipulate as follows:
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This matter relates to real property located 3151 Soaring Gulls Dr. # 26-1004, Las

Vegas, Nevada, 89128-7020, APN 138-16-120-324 (the Property).
specifically described as:

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{42028098;2}APN 138-16-120-324

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The Property is more

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PARCEL ONE (1) – UNIT:

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LIVING UNIT 1004 IN BUILDING 26, AS SHOWN ON THE FINAL MAP OF
BROADSTONE AT DESERT SHORES, A CONDOMINIUM SUBDIVISION ON
FILE IN BOOK 127 OF PLATS, PAGE 42, IN THE OFFICE OF THE COUNTY
RECORDER OF CLARK COUNTY, NEVADA (HEREINAFTER THE "PLAT").

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PARCEL TWO (2) – COMMON ELEMENTS:

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AN UNDIVIDED 1/424TH INTEREST AS TENANT IN COMMON IN THE
COMMON ELEMENTS AS SHOWN ON THE PLAT, IN ACCORDANCE WITH
AND SUBJECT TO THE TERMS OF THE DECLARATION OF COVENANTS,
CONDITIONS AND RESTRICTIONS FOR DESERT SHORES VILLAS
CONDOMINIUMS RECORDED OCTOBER 20, 2005, IN BOOK 20051020 AS
DOCUMENT NO. 04624 IN THE OFFICE OF THE COUNTY RECORDER OF
CLARK COUNTY, NEVADA (HEREINAFTER THE "DECLARATION").

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EXCEPTING THEREFROM ALL UNITS AS SHOWN ON THE PLAT.

AKERMAN LLP

1160 TOWN CENTER DRIVE, SUITE 330
LAS VEGAS, NEVADA 89144
TEL.: [phone] – FAX: [phone]

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RESERVING THEREFROM, THE RIGHT TO USE ANY OF THE AREAS
DESIGNATED AS LIMITED COMMON ELEMENTS IN THE PLAT AND/OR
THE DECLARATION.

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FURTHER RESERVING THEREFROM FOR THE BENEFIT OF OWNERS OF
ALL UNITS SHOWN ON THE PLAT (EXCEPT THE UNIT REFERRED TO IN
PARCEL ONE (1) ABOVE), NON-EXCLUSIVE EASEMENTS FOR ACCESS,
INGRESS, EGRESS, USE AND ENJOYMENT OF, IN AND TO THE COMMON
ELEMENTS, AS DEFINED IN AND SUBJECT TO THE DECLARATION.

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PARCEL THREE (3) – LIMITED COMMON ELEMENTS:

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THE EXCLUSIVE RIGHT TO USE, POSSESS AND OCCUPY THE AREAS
DESIGNATED AS LIMITED COMMON ELEMENTS DEFINED AND
DESCRIBED AS LIMITED COMMON ELEMENTS, ALLOCATED TO PARCELS
ONE (1) AND TWO (2) IN THE DECLARATION.

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PARCEL FOUR (4) – APPURTENANT EASEMENTS:

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NON-EXCLUSIVE EASEMENTS FOR ACCESS, INGRESS, EGRESS, USE,
ENJOYMENT AND OTHER PURPOSES ON, OVER AND ACROSS THE
COMMON ELEMENTS AS DEFINED IN AND SUBJECT TO THE
DECLARATION, WHICH EASEMENT IS APPURTENANT TO PARCELS
ONE (1), TWO (2) AND THREE (3) DESCRIBED ABOVE.

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{42028098;2}APN 138-16-120-324

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2.

BANA, as servicer for Fannie Mae, is the beneficiary of record of a Deed of Trust that

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encumbers the Property and was recorded on January 20, 2006, as Document Number 20060120-

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0004809, in the Official Records of Clark County, Nevada (the Deed of Trust).

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3.

On July 29, 2014, Silver Stream recorded a Foreclosure Deed as Document

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Number 20140729-0002652 of the Official Records of Clark County, Nevada (the HOA

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Foreclosure Deed), reflecting that Silver Stream purchased the Property at a foreclosure sale of the

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Property conducted by Desert Shores Community Association on July 25, 2014 (the HOA Sale).

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Silver Stream has not transferred its interest in the Property and is still the title holder of record.

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4.

On December 7, 2016, BANA and Fannie Mae initiated a quiet title action against

AKERMAN LLP

Silver Stream and the HOA in the United States District Court, District of Nevada, Case No. 2:16-

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1160 TOWN CENTER DRIVE, SUITE 330
LAS VEGAS, NEVADA 89144
TEL.: [phone] – FAX: [phone]

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cv-02831- RFB-GWF (the Quiet Title Action).

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5.

Fannie Mae, BANA, and Silver Stream have entered a confidential settlement

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agreement in which they have settled all claims between them in this case. This stipulation and

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order applies to the matters addressed in this particular case only and has no relevance to any other

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matter.

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6.

The Deed of Trust survived and was not extinguished in any capacity by the HOA Sale.

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The Deed of Trust remains a valid encumbrance against the Property following the recording of the

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HOA Foreclosure Deed, and Silver Stream's interest in the Property is subject to the Deed of Trust.

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7.

BANA and Fannie Mae agree to dismiss all remaining claims in this matter against the

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HOA and non-appearing Defendant Nevada Association Services, Inc.

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{42028098;2}APN 138-16-120-324

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Dated: July 5, 2017.

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AKERMAN LLP

ALDRICH LAW FIRM, LTD

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/s/ Jesse A. Ransom
Melanie D. Morgan, Esq.
Nevada Bar No. 8215
Jesse A. Ransom, Esq.
Nevada Bar No. 13565
1160 Town Center Drive, Suite 330
Las Vegas, Nevada 89144
Telephone: [phone]
Facsimile: [phone]
[e-mail]
[e-mail]
Attorneys for Plaintiff Bank of America,
N.A. and Federal National Mortgage
Association

/s/ Gary Fink
Gary S. Fink, Esq.
Nevada Bar No. 8064
1601 S. Rainbow Blvd., Suite 160
Las Vegas, NV 89146
Telephone: [phone]
Facsimile: [phone]
Attorneys for Silver Stream Advisors, LLC

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AKERMAN LLP

1160 TOWN CENTER DRIVE, SUITE 330
LAS VEGAS, NEVADA 89144
TEL.: [phone] – FAX: [phone]

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LEACH JOHNSON SONG & GRUCHOW

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/s/ Ryan Hastings
Ryan D. Hastings, Esq.
Nevada Bar No. 12394
Sean Anderson, Esq.
Nevada Bar No. 7259
8945 West Russell Road, Suite 330
Las Vegas, Nevada 89148
Phone: [phone]
Fax: [phone]
Attorneys for Desert Shores Community Association

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{42028098;2}APN 138-16-120-324

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ORDER

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Based on the above stipulation between Bank of America, N.A. and Federal National

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Mortgage Association, defendant Silver Stream Advisors, LLC, and defendant Desert Shores

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Community Association, the Parties' agreement, and good cause appearing therefore,

Nevada against the real property located 3151 Soaring Gulls Dr. # 26-1004, Las Vegas, Nevada,

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89128-7020, APN 138-16-120-324 (the Property) on January 20, 2006, as Document Number

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20060120-0004809, was not extinguished, impaired, or otherwise affected by the foreclosure sale of

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the Property conducted by Desert Shores Community Association on July 25, 2014 or the recording

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of the HOA Foreclosure Deed in the Official Records of Clark County, Nevada, on July 29, 2014, as

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AKERMAN LLP

IT IS ORDERED that the Deed of Trust recorded in the Official Records of Clark County,

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1160 TOWN CENTER DRIVE, SUITE 330
LAS VEGAS, NEVADA 89144
TEL.: [phone] – FAX: [phone]

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Document Number 20140729-0002652, reflecting that Silver Stream purchased the Property at the

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foreclosure sale. Silver Stream's ownership interest in the Property is subject to the Deed of Trust.

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IT IS FURTHER ORDERED that Plaintiffs shall be entitled to record this STIPULATION

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AND ORDER CONFIRMING VALIDITY OF DEED OF TRUST in the Official Records of Clark

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County, Nevada in accordance with the rules of the Recorder's Office.

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IT IS FURTHER ORDERED that this order constitutes the final judgment of this Court,
resolving all claims in this case with prejudice, each party to bear its own fees and costs.
10th
July
DATED this _____ day of ___________________, 2017.

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DISTRICT COURT JUDGE

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Respectfully submitted by:
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AKERMAN LLP
/s/ Jesse A. Ransom
Melanie D. Morgan, Esq.
Nevada Bar No. 8215
Jesse A. Ransom, Esq.
Nevada Bar No. 13565
1160 Town Center Drive, Suite 330
Las Vegas, Nevada 89144
Attorneys for Plaintiffs Bank of America, N.A.
and Federal National Mortgage Association
{42028098;2}APN 138-16-120-324

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