U.S. Bank National Association v. SFR Investments Pool 1, LLC et al

Filing 71

ORDER granting 70 Stipulation to Temporarily Stay Case; Signed by Judge James C. Mahan on 4/26/2018. (Copies have been distributed pursuant to the NEF - JM)

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WRIGHT, FINLAY & ZAK, LLP
Dana Jonathon Nitz, Esq.
Nevada Bar No. 0050
Yanxiong Li, Esq.
Nevada Bar No. 12807
7785 W. Sahara Ave., Suite 200
Las Vegas, Nevada 89117
[phone]; Fax: [phone]
[e-mail]
Attorneys for Plaintiff/Counter-Defendant, U.S. Bank National Association, as Trustee for
Structured Asset Securities Corporation Mortgage Loan Trust 2007-BNC1, Mortgage PassThrough Certificates, Series 2007-BNC1

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UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA

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U.S. BANK NATIONAL ASSOCIATION, AS
TRUSTEE FOR STRUCTURED ASSET
SECURITIES CORPORATION MORTGAGE
LOAN TRUST 2007-BNC1, MORTGAGE
PASS-THROUGH CERTIFICATES, SERIES
2007-BNC1,
Plaintiff,

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First Request to Stay

SFR INVESTMENTS POOL 1, LLC, a
domestic limited liability company; LOS
PRADOS COMMUNITY ASSOCIATION, a
domestic non-profit coop corp without stock;
NEVADA ASSOCIATION SERVICES, INC.,
a domestic corporation,
Defendants.
SFR INVESTMENTS POOL 1, LLC,

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STIPULATION AND ORDER TO
TEMPORARILY STAY CASE
PENDING SETTLEMENT

vs.

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Case No.: 2:17-cv-01677-JCM-NJK

Counter/Cross-Claimant
vs.
U.S. BANK NATIONAL ASSOCIATION, AS
TRUSTEE FOR STRUCTURED ASSET
SECURITIES CORPORATION MORTGAGE
LOAN TRUST 2007-BNC1, MORTGAGE
PASS-THROUGH CERTIFICATES, SERIES

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2007-BNC1; SALVATORE A. MONCADA, an
individual; MARY M. MONCADA, an
individual,

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Counter/Cross-Defendants.

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Plaintiff, U.S. Bank National Association, as Trustee for Structured Asset Securities

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Corporation Mortgage Loan Trust 2007-BNC1, Mortgage Pass-Through Certificates, Series

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2007-BNC1 (“U.S. Bank”) and Defendant, Los Prados Community Association (“HOA”)

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(collectively, the “Parties”), by and through their respective counsels of record, hereby stipulate
and agree as follows:
RECITALS

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1. On or about June 15, 2017, the Plaintiff filed a complaint alleging various causes
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of action stemming from an HOA foreclosure sale conducted on behalf of HOA.

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2. Discovery closed in this matter on January 8, 2018 [ECF No. 27].

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3. HOA filed its Motion for Summary Judgment [ECF No. 62] on February 7, 2018.

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The current deadline for U.S. Bank to file any response to HOA’s Motion for Summary

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Judgment is April 25, 2018 [see ECF No.69].

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4. The undersigned attorneys are engaged in settlement discussions and are hopeful
that a resolution may be had, in lieu of further motion practice and/or proceeding to trial.

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5. In the interest of judicial economy, the parties agree that if this matter is settled,

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then the completion of dispositive motions will not be a good use of the party’s resources and

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time.
6. The parties stipulate to stay this case, including dispositive motion deadlines,

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subject to these deadlines being reset upon the filing of a notice by any party that a settlement
is/was not possible.

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Page 2 of 5

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7. In the event that settlement fails, then U.S. Bank would have 14 days from the
date of the filing of the notice that settlement failed, to file a response to HOA’s Motion for

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Summary Judgment. HOA shall have 7 days from the date of service of U.S. Bank’s response to

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file any reply in support of its Motion for Summary Judgment.

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STIPULATION

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IT IS HEREBY STIPULATED AND AGREED that all proceedings in this lawsuit
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are stayed, and all upcoming deadlines, hearings and conferences, including the deadline to file
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dispositive motions are hereby STAYED pending further settlement discussions between the
parties;

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IT IS FURTHER STIPULATED AND AGREED that if a settlement is reached, the
parties will file a stipulation for dismissal with the terms of the settlement; and

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IT IS FURTHER STIPULATED AND AGREED that any party to this action at their

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option shall file a Notice indicating that no settlement has been reached. Upon filing of said

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notice, U.S. Bank shall have 14 days from the date of the filing of the notice to file a response to

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HOA’s Motion for Summary Judgment.
IT IS FURTHER STIPULATED AND AGREED that HOA shall have 7 days from

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the date of service of U.S. Bank’s response to file any reply in support of its Motion for
Summary Judgment.
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Page 3 of 5

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IT IS SO STIPULATED.

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WRIGHT, FINLAY & ZAK, LLP

ALVERSON, TAYLOR, MORTENSEN &
SANDERS

/s/ Yanxiong Li, Esq.
Yanxiong Li, Esq.
Nevada Bar No. 12807
7785 W. Sahara Ave., Suite 200
Las Vegas, NV 89117
Attorney for Plaintiff/Counter-Defendant, U.S.
Bank National Association, as Trustee for
Structured Asset Securities Corporation
Mortgage Loan Trust 2007-BNC1, Mortgage
Pass-Through Certificates, Series 2007-BNC1

/s/ Adam R. Knecht, Esq.
Adam R. Knecht, Esq.
Nevada Bar No. 13166
6605 Grand Montecito Pkwy., Suite 200
Las Vegas, NV 89149
Attorney for Defendant, Los Prados
Community Association

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ORDER

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IT IS SO ORDERED.
________________________________________
UNITED STATES DISTRICT COURT JUDGE

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April 26, 2018
DATED: ________________________________

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CERTIFICATE OF SERVICE
The undersigned, an employee of Wright, Finlay & Zak, LLP, hereby certifies that on the

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25th day of April, 2018, a true and correct copy of STIPULATION AND ORDER TO

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TEMPORARILY STAY CASE PENDING SETTLEMENT was served electronically to all

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parties of interest through the Court’s CM/ECF system as follows:

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Diana Cline Ebron, Esq.
Jacqueline A. Gilbert, Esq.
Karen L. Hanks, Esq.
7625 Dean Martin Drive, Suite 110
Las Vegas, NV 89139
Email: [e-mail]
Attorneys for Defendant,
SFR Investments Pool 1, LLC

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Kurt R. Bonds, Esq.
David J. Rothenberg, Esq.
6605 Grand Montecito Parkway, Suite 200
Las Vegas, NV 89149
Email: [e-mail]
Attorneys for Defendant,
Los Prados Community Association

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/s/ Kelli Wightman
An Employee of Wright, Finlay & Zak, LLP

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