U.S. Bank, N.A. v. LV Real Estate Strategic Investment Group, LLC et al

Filing 112

ORDER ON MOTIONS FOR SUMMARY JUDGMENT re ECF No. 111 Proposed Order - Plaintiff U.S. Bank's motion for summary judgment (ECF No. 80 ) is granted in part to the extent of its request for declaratory relief that the HOA sale did not e xtinguish the deed of trust, which deed of trust was recorded with the Clark County Recorder as Instrument No. 20060615 - 0004185. Defendant LVRES's motion for summary judgment (ECF No. 81 ) is denied. The remaining claims are dismissed as moot. Signed by Chief Judge Miranda M. Du on 2/24/2020. (Copies have been distributed pursuant to the NEF - DRM)

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MELANIE 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: rex. [e-mail]
Attorneys for the U.S. Bank, National Association,
as Trustee for the Certificateholders of Banc of
America Funding 2008-FT1 Trust

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AKERMAN LLP

UNITED STATES DISTRICT COURT

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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, N.A. AS TRUSTEE FOR THE
CERTIFICATEHOLDERS OF BANC OF
AMERICA FUNDING 2008-FT1 TRUST,
MORTGAGE PASS-THROUGH
CERTIFICATES, SERIES 2008-FT1

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Case No.: 2:17-cv-00355-MMD-BNW
PLAINTIFF'S [PROPOSED] ORDER ON
MOTIONS FOR SUMMARY JUDGMENT

Plaintiff,

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v.

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LV REAL ESTATE STRATEGIC
INVESTMENT GROUP, LLC SERIES 211, a
Nevada limited liability company; RAINBOW
VILLAS CONDOMINIUM ASSOCIATION,
a Nevada non-profit corporation; and TERRA
WEST COLLECTIONS GROUP, LLC d/b/a
Assessment Management Services, a Nevada
limited-liability company,

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Defendants.
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Plaintiff U.S. Bank, N.A., As Trustee For The Certificateholders of Banc of America Funding

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2008-FT1 Trust, Mortgage Pass-Through Certificates, Series 2008-FT1 (U.S. Bank) filed a motion

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for summary judgment (ECF No. 80), to which Defendant LV Real Estate Strategic Investment Group

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LLC Series 211 (LVRES) responded (ECF No. 88), U.S. Bank replied (ECF No. 92), and Rainbow

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Villas Condominium Association (HOA) filed a joinder (ECF No. 94) to U.S. Bank's reply.

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The Court has also reviewed Defendant LVRES's motion for summary judgment (ECF No.
81), U.S. Bank's response (ECF No. 90), and LVRES's reply (ECF No. 91).
The Court takes judicial notice of certain exhibits attached to Plaintiff U.S. Bank's motion for
summary judgment (ECF No. 80).
The Court heard oral arguments on the motions on February 14, 2020. Darren Brenner
appeared for U.S. Bank. Mike Beede appeared for LVRES.

2009, the senior deed of trust was unaffected by the HOA's eventual foreclosure sale, meaning those

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who took title after the HOA foreclosure sale, including LVRES, took title subject to the deed of trust.

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AKERMAN LLP

Because the loan servicer, Bank of America, tendered payment for the HOA's entire lien in

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

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Accordingly, Plaintiff U.S. Bank's motion for summary judgment (ECF No. 80) is granted in

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part to the extent of its request for declaratory relief that the HOA sale did not extinguish the deed of

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trust, which deed of trust was recorded with the Clark County Recorder as Instrument No. 20060615-

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0004185. Defendant LVRES's motion for summary judgment is denied. The remaining claims are

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dismissed as moot.

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IT IS SO ORDERED.
February 24, 2020
Dated:______________________

UNITED STATES DISTRICT COURT JUDGE
Case No.: 2:17-cv-00355-MMD-BNW

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Submitted by:

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AKERMAN LLP

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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

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Attorneys for plaintiff U.S. Bank, N.A.,
As Trustee For The Certificateholders of
Banc of America Funding 2008-FT1 Trust,
Mortgage Pass-Through Certificates, Series 2008-FT1

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