Bank of America, N.A., et al v. Park Avenue Homeowners Association et al

Filing 32

ORDER granting 31 Stipulation; This order constitutes the final judgment of this Court, resolving all claims in this case with prejudice. Signed by Judge Richard F. Boulware, II on 7/1/2019. (Copies have been distributed pursuant to the NEF - JM)

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MELANIE D. MORGAN, ESQ.
Nevada Bar No. 8215
REX D. GARNER, ESQ.
Nevada Bar No. 9401
AKERMAN LLP
1635 Village Center Circle, Suite 200
Las Vegas, Nevada 89134
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
Email: [e-mail]
Attorneys for plaintiffs Bank of America, N.A.
and Federal National Mortgage Association

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UNITED STATES DISTRICT COURT

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DISTRICT OF NEVADA

AKERMAN LLP

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

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

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Case No.: 2:16-cv-02882-RFB-GWF

Plaintiff,
STIPULATION AND ORDER OF FINAL
JUDGMENT CONFIRMING VALIDITY
OF DEED OF TRUST

vs.
PARK AVENUE HOMEOWNERS
ASSOCIATION; and RED ROCK FINANCIAL
SERVICES, LLC,

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Defendants.

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PARK AVENUE HOMEOWNERS
ASSOCIATION,

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Cross Claimant,
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vs.

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RED ROCK FINANCIAL SERVICES, LLC,

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Cross Defendant.

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Plaintiffs Bank of America, N.A. and Federal National Mortgage Association, defendant and

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cross-claimant Park Avenue Homeowners Association, and defendant and cross-defendant Red Rock

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Financial Services, LLC, through their counsel of record, stipulate as follows:
1.

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This matter relates to real property located at 35 E. Agate Avenue, Unit 406, Las Vegas,

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Nevada 89123 (APN: 177-21-219-198) (the Property). The Property is more specifically described

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as:
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APN 177-21-219-198

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PARCEL ONE (1):

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AN UNDIVIDED FRACTIONAL INTEREST AS A TENANT IN COMMON IN
THE COMMON ELEMENTS AS DEFINED IN SECTION 1.10 OF THE
DECLARATION OF COVENANTS, CONDITIONS AND RESTRICTIONS FOR
PARK AVENUE CONDOMINIUMS, A COMMON INTEREST CONDOMINIUM
DEVELOPMENT RECORDED IN THE OFFICE OF THE COUNTY RECORDER,
CLARK COUNTY NEVADA, ON AUGUST 3, 2001 IN BOOK 20010803 AS
DOCUMENT NO. 00962, AS THE SAME MAY FROM TIME TO TIME BE
AMENDED AND/OR SUPPLEMENTED, TO WHICH REFERENCE IS
HEREAFTER MADE ("DECLARATION").

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AKERMAN LLP

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

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EXCEPTING THEREFROM ALL BUILDING UNITS AND ASSOCIATION
PROPERTY IN THE PROJECT, AS THOSE TERMS ARE DEFINED IN ARTICLE
I OF THE DECLARATION.
AND RESERVING THEREFROM THE RIGHT TO POSSESSION OF ALL THOSE
AREAS DESIGNATED AS LIMITED COMMON ELEMENTS IN SECTION 2.3 OF
THE DECLARATION AND/OR DESIGNATED AS SUCH UPON EITHER THE
PLAT OF PARK AVENUE CONDOMINIUMS – UNIT 3, AS SHOWN BY MAP
THEREOF ON FILE IN BOOK 110 OF PLATS, PAGE 58 AND AS SHOWN BY
AMENDED PLAT OF A PORTION OF "PARK AVENUE CONDOMINIUMS –
UNIT 3" ON FILE IN BOOK 116 OF PLATS, PAGE 100, IN THE OFFICE OF THE
COUNTY RECORDER, CLARK COUNTY, NEVADA, OR THE PLAT OF ANY
OTHER PHASE OF THE PARK AVENUE CONDOMINIUM PROJECT
ANNEXED TO SAID PROJECT IN ACCORDANCE WITH THE DECLARATION.
AND FURTHER RESERVING THEREFROM FOR THE BENEFIT OF THE
OWNERS OF CONDOMINIUMS (I.E., BUILDING UNITS) IN OTHER PHASES OF
THE PROJECT, A NON-EXCLUSIVE EASEMENT OF INGRESS, EGRESS AND
RECREATIONAL USE, ON OVER AND UNDER THE COMMON ELEMENTS AS
DEFINED SECTION 1.10 IN THE DECLARATION, WHICH EASEMENT IS
SUBJECT TO THE TERMS AND PROVISIONS OF THE DECLARATION.
PARCEL TWO (2):
LIVING UNIT 406 IN BUILDING 6 OF PARK AVENUE CONDOMINIUMSUNIT 3 AS SHOWN BY MAP THEREOF ON FILE IN BOOK 110 OF PLATS,
PAGE 58 AND AS SHOWN BY AMENDED PLAT OF A PORTION OF "PARK
AVENUE CONDOMINIUMS - UNIT 3" ON FILE IN BOOK 116 OF PLATS, PAGE
100 IN THE OFFICE OF THE COUNTY RECORDER OF CLARK COUNTY,
NEVADA.

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PARCEL THREE (3):

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A NON-EXCLUSIVE EASEMENT OF INGRESS, EGRESS AND
RECREATIONAL USE, ON, OVER AND UNDER THE COMMON ELEMENTS
AS DEFINED IN THE DECLARATION, WHICH EASEMENT IS SUBJECT TO
THE TERMS AND PROVISIONS OF THE DECLARATION AND
APPURTENANT TO PARCELS ONE (1) AND TWO (2) DESCRIBED ABOVE.

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APN 177-21-219-198

PARCEL FOUR (4):

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THE EXCLUSIVE RIGHT, SUBJECT TO THE TERMS AND PROVISIONS OF
THE DECLARATION TO PARKING SPACE NO. P533; ALL OF WHICH ARE
DEFINED AND DESCRIBED AS LIMITED COMMON ELEMENTS IN SECTION
2.3 OF THE DECLARATION AND WHICH ARE APPURTENANT TO PARCELS
ONE (1) AND TWO (2) DESCRIBED ABOVE.

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2.

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BANA, on Fannie Mae's behalf, is the beneficiary of record of a Deed of Trust that

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encumbers the Property and was recorded on May 17, 2006, as Instrument No. 20060517-0003775

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(the Deed of Trust).
3.

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AKERMAN LLP

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

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On November 15, 2012, Park Avenue recorded a Foreclosure Deed as Instrument No.

201211150001661 (the HOA Foreclosure Deed), reflecting that Park Avenue purchased the Property
at a foreclosure sale of the Property held on November 6, 2012 (the HOA Sale).

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4.

Park Avenue has not transferred its interest and is currently the title holder of record.

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5.

On December 13, 2016, BANA and Fannie Mae initiated an action for quiet title and

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damages against Park Avenue and Red Rock in the United States District Court, District of Nevada,

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Case No. 2:16-cv-02882-RFB-GWF.
6.

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BANA, Fannie Mae, and Park Avenue have entered into a settlement agreement in

which BANA and Fannie Mae have resolved all claims against Park Avenue and Red Rock.
7.

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The parties have agreed as part of their settlement agreement that the Deed of Trust

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survived and was not extinguished in any capacity by the HOA Sale or the recording of the HOA

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

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recording of the HOA Foreclosure Deed, and Park Avenue's interest in the Property is subject to the

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Deed of Trust. This stipulation is made for purposes of this action only and is not a waiver by any

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Party of its legal position in any other case or an admission of liability in this or any other action.

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///
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APN 177-21-219-198

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8.

Based on this stipulation, BANA stipulates to dismissing its breach of NRS 116.1113

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and wrongful foreclosure claims against Park Avenue and Red Rock, and Park Avenue stipulates to

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dismissing its cross-claims against Red Rock, with prejudice.

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This the 25th day of June, 2019.

This the 25th day of June, 2019.

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AKERMAN LLP

LEACH KERN GRUCHOW ANDERSON SONG

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/s/ Rex D. Garner
MELANIE D. MORGAN, ESQ.
Nevada Bar No. 8215
REX D. GARNER, ESQ.
Nevada Bar No. 9401
1635 Village Center Circle, Suite 200
Las Vegas, Nevada 89134

/s/ J. Tyler King
SEAN L. ANDERSON, ESQ.
Nevada Bar. No. 7259
J. TYLER KING, ESQ.
Nevada Bar No. 14895
2525 Box Canyon Drive
Las Vegas, Nevada 89128

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AKERMAN LLP

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

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Attorneys for plaintiffs Bank of America, N.A. Attorneys for defendant and cross-claimant Park
and Federal National Mortgage Association
Avenue Homeowners Association
This the 25th day of June, 2019.

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KOCH & SCOW LLC
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/s/ Steven B. Scow
DAVID R. KOCH, ESQ.
Nevada Bar No. 8830
STEVEN B. SCOW, ESQ.
Nevada Bar No. 9906
BRODY R. WIGHT, ESQ.
Nevada Bar No. 13615
11500 South Eastern Avenue, Suite 210
Henderson, Nevada 89052
Attorneys for defendant and cross-defendant Red
Rock Financial Services, LLC

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APN 177-21-219-198

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ORDER

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Based on the above stipulation between plaintiffs Bank of America, N.A. (BANA) and Federal

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National Mortgage Association (Fannie Mae), defendant and cross-claimant Park Avenue

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Homeowners Association, and defendant and cross-defendant Red Rock Financial Services, LLC, the

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Parties' agreement, and good cause appearing therefore,

Nevada against the real property located at 35 E. Agate Avenue, Unit 406, Las Vegas, Nevada 89123

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(APN: 177-21-219-198) (the Property) on May 17, 2006, as Instrument No. 20060517-0003775 was

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not extinguished, impaired, or otherwise affected by the foreclosure sale conducted by Park Avenue

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

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on November 6, 2012, or the recording of the Foreclosure Deed in the Official Records of Clark

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County, Nevada on November 15, 2012, as Instrument No. 201211150001661, reflecting that Park

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Avenue purchased the Property at the HOA Foreclosure Sale. Park Avenue's interest in the Property

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is subject to the Deed of Trust.

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IT IS FURTHER ORDERED that BANA and Fannie Mae shall be entitled to record this

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STIPULATION AND ORDER OF FINAL JUDGMENT CONFIRMING VALIDITY OF DEED OF

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TRUST in the Official Records of Clark County, Nevada in accordance with the rules of the Recorder's

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Office.

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IT IS FURTHER ORDERED BANA's breach of NRS 116.1113 and wrongful foreclosure

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claims against Park Avenue and Red Rock, and Park Avenue's cross-claims against Red Rock, are

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dismissed with prejudice.

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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.
1st
July
DATED this _____ day of ____________________, 2019.

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RICHARD F. BOULWARE, II
UNITED STATES DISTRICT JUDGE

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Case No. 2:16-cv-02882-RFB-GWF

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APN 177-21-219-198