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

Filing 49

ORDER granting 48 Stipulation of Dismissal with prejudice; Signed by Judge Kent J. Dawson on 8/28/2020. (Copies have been distributed pursuant to the NEF - JM)

Case 2:17-cv-01857-KJD-EJY Document 49 Filed 09/01/20 Page 1 of 3

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MELANIE D. MORGAN, ESQ.
Nevada Bar No. 8215
HOLLY E. WALKER, ESQ.
Nevada Bar No. 14295
AKERMAN LLP
1635 Village Center Circle, Suite 200
Las Vegas, Nevada 89134
Telephone: [phone]
Facsimile: [phone]
Email: [e-mail]
Email: [e-mail]

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Attorneys for plaintiff Bank of America, N.A.

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UNITED STATES DISTRICT COURT

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DISTRICT OF NEVADA

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BANK OF AMERICA, N.A.,

AKERMAN LLP

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

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Plaintiff,

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v.

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Case No.: 2:17-cv-01857-KJD-EJY
ORDER FOR DISMISSAL WITH
PREJUDICE

PEPPERTREE
HOMEOWNERS
ASSOCIATION AND TOW PROPERTIES, LLC
IV;

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Defendants.

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Plaintiff Bank of America, N.A. (BANA) and defendants Peppertree Homeowners Association
and Tow Properties LLC IV (the parties) stipulate as follows:
1.

The real property that is the subject of this case is commonly known as 729 Nectarine

Court, Henderson, Nevada 89014, APN: 178-05-621-114 (the property).
2.

BANA is the beneficiary of a deed of trust recorded against the property with the Clark

County Recorder on July 27, 2006, as Instrument No. 20060727-0005962 (the deed of trust).
3.

Former property owners Michael J. Montero and Miguel T. Montero (the borrowers)

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failed to pay all assessments and other charges owed to Peppertree and, as a result, on November 20,

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2013, Peppertree, through its trustee, Alessi & Koenig, LLC, foreclosed its lien pursuant to NRS 116

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et seq., Peppertree's governing documents, and applicable Nevada law (the HOA foreclosure sale);

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4.

Peppertree purchased the property at the HOA foreclosure sale for $11,323.34. As a

result, a trustee's deed upon sale was recorded with the Clark County Recorder on August 21, 2014,

Case 2:17-cv-01857-KJD-EJY Document 49 Filed 09/01/20 Page 2 of 3

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as Instrument No. 20140821-0000359, reflecting Peppertree's foreclosure of its lien and its acquisition

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of the property.

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5.

Peppertree subsequently conveyed its interest in the property to Tow, as evidenced by

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the quitclaim deed recorded with the Clark County Recorder on August 21, 2014, as Instrument No.

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20140821-0000790.

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AKERMAN LLP

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

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6.

BANA serviced the loan secured by the deed of trust at the time of the HOA foreclosure

sale, and currently services the loan secured by the deed of trust.
7.

BANA, Peppertree and Tow have come to a resolution regarding their respective

claims, counterclaims and interests in the parties.
8.

BANA, Peppertree and Tow have executed a written settlement agreement, the terms

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of which are confidential, but under which BANA agrees to forego all right, title and interest in the

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property, and to disclaim its interest thereto, upon receipt of agreed-upon consideration.

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9.

By virtue of the settlement and BANA's disclaimer, title in the property is and

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hereinafter shall be vested in Tow, free and clear of all right, title and interest claimed by BANA, its

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success and assigns under the deed of trust, and judgment for quiet title shall be granted in favor of

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Tow. The court may enter an order to this effect. Notwithstanding the foregoing, the property shall

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remain bound and subject to any and all covenants, conditions, restrictions and reservations of

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Peppertree and amendments thereto, as well as any and all easements, rights-of-way, and mineral

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restrictions of record.

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10.

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prejudice.

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11.

All other claims asserted by or against any parties to this action shall be dismissed with

Nothing in this stipulation should be construed as intended to benefit any party not

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identified as the "parties" in this stipulation, and in particular shall not constitute a waiver or

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relinquishment of any claims BANA (or its authorized agents, investors, affiliates, predecessors,

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successors and assigns) may have against the borrowers, including the right, if any, to sue the

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borrowers on the note or for a deficiency judgment.

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12.

Nothing in this stipulation is intended to be, or will be, construed as an admission of

the claims or defenses of the parties.
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Case 2:17-cv-01857-KJD-EJY Document 49 Filed 09/01/20 Page 3 of 3

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13.

Each party shall bear its own attorney's fees and costs in connection with this litigation,

stipulation and settlement.
14.

A copy of this stipulation and order for dismissal with prejudice may be recorded with

the Clark County Recorder.
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The clerk shall close this case.

DATED: August 25, 2020.
AKERMAN LLP

HOA LAWYERS GROUP, LLC

/s/ Holly E. Walker, Esq.
MELANIE D. MORGAN, ESQ.
Nevada Bar No. 8215
HOLLY E. WALKER, ESQ.
Nevada Bar No. 14295
1635 Village Center Circle, Ste. 200
Las Vegas, Nevada 89134

/s/ Steven T. Loizzi, Jr., Esq.
STEVEN T. LOIZZI, JR., ESQ.
Nevada Bar No. 10920
9500 W. Flamingo, Suite 204
Las Vegas, Nevada 89147

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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
defendant
Homeowners Association

Peppertree

Attorneys for plaintiff Bank of America, N.A.
LEE, HERNANDEZ, LANDRUM & CARLSON, APC

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/s/ Elizabeth C. Spaur, Esq.
DAVID S. LEE, ESQ.
Nevada Bar No. 6033
ELIZABETH C. SPAUR, ESQ.
Nevada Bar No. 10446
7575 Vegas Drive, Suite 150
Las Vegas, Nevada 89128
Attorneys for defendant Tow Properties, LLC IV

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ORDER

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IT IS SO ORDERED.

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______________________________________
UNITED STATES DISTRICT JUDGE

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DATED:_______________________________
8/28/2020

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