Deutsche Bank National Trust Company,v. Thunder Properties, Inc., a Nevada Corporation

Filing 65

ORDER granting ECF No. 64 Stipulation for Dismissal of Action with Prejudice. See Order for specific details. Signed by Judge Miranda M. Du on 1/28/2019. (Copies have been distributed pursuant to the NEF - KW)

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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., Ste. 200
Las Vegas, Nevada 89117
[phone]; Fax: [phone]
[e-mail]
Attorneys for Plaintiff, Deutsche Bank National Trust Company, formerly known as Bankers
Trust Company of California, N.A., as Trustee for American Home Mortgage Assets Trust 20061
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA
DEUTSCHE BANK NATIONAL TRUST
COMPANY, FORMERLY KNOWN AS
BANKERS TRUST COMPANY OF
CALIFORNIA, N.A., AS TRUSTEE FOR
AMERICAN HOME MORTGAGE ASSETS
TRUST 2006-1,

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Case No.: 3:16-cv-00381-MMD-WGC

STIPULATION AND ORDER FOR
DISMISSAL OF ACTION WITH
PREJUDICE

Plaintiff,
vs.
THUNDER PROPERTIES INC.; KERN &
ASSOCIATES, LTD.; DOE INDIVIDUALS I
through X, inclusive; and ROE
CORPORATIONS XI through XX, inclusive,
Defendants.

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Plaintiff, DEUTSCHE BANK NATIONAL TRUST COMPANY, FORMERLY

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KNOWN AS BANKERS TRUST COMPANY OF CALIFORNIA, N.A., AS TRUSTEE FOR

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AMERICAN HOME MORTGAGE ASSETS TRUST 2006-1 (“Deutsche Bank”), by and

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through its attorneys of record, Dana Jonathon Nitz, Esq. and Yanxiong Li, Esq. of the law firm

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of Wright, Finlay & Zak, LLP, and Defendant THUNDER PROPERTIES, INC. (“TPI”), by and

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through their undersigned counsels, hereby stipulate and agree as follows:

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WHEREAS the above-captioned action concerns a homeowner’s association non-

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judicial foreclosure sale that occurred on or about June 18, 2014 (“HOA Sale”) involving

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certain real property located in Washoe County, Nevada, commonly known as 100 Riverhaven

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Place, Reno, Nevada 89509; A.P.N. 009-553-19 (“Property”);

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WHEREAS as a result of the HOA Sale, TPI claimed title to the Property, purportedly

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free and clear of Deutsche Bank’s interest as the record beneficiary of a Deed of Trust recorded

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in the official records of the Washoe County Recorder’s Office on May 17, 2006 as Document

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Number 3388538 (“Subject Deed of Trust”);

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WHEREAS as a result of the HOA Sale, Kern & Associates collected proceeds in excess
of the HOA’s statutory lien in the amount of $22,167.83 (the “Excess Proceeds”);

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WHEREAS Deutsche Bank filed its Complaint on June 27, 2016 (the “Action”),

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alleging several causes of action against TPI in connection with the HOA Sale and the Property

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[ECF No. 1];

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WHEREAS The undersigned Parties have now come to a resolution regarding their
respective claims and interest in the Property and the Excess Proceeds;

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WHEREAS The undersigned Parties have, or will, execute a settlement agreement, the

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terms of which are confidential, but under which Deutsche Bank agrees to relinquish its right,

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title and interest in the Property for agreed-upon consideration;

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WHEREAS TPI agrees to relinquish any right, title and interest in the Excess Proceeds;

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WHEREAS All other claims asserted by or against any of the undersigned Parties hereto

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shall be dismissed with prejudice;
WHEREAS Nothing in this Stipulation should be construed as intended to benefit any

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other party not identified as the undersigned Parties hereto, and in particular, shall not constitute

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a waiver or relinquishment of any claims by Deutsche Bank against the Borrower; and

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WHEREAS Each Party shall bear its own fees and costs incurred in this litigation and
settlement.
IT IS HEREBY STIPULATED AND AGREED that claims asserted against TPI in
Deutsche Bank’s Complaint shall be dismissed with prejudice;
IT IS FURTHER STIPULATED AND AGREED that TPI hereby relinquish any right,
title and interest in the Excess Proceeds;

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IT IS FURTHER STIPULATED AND AGREED that nothing in this Stipulation and

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Order is intended to be, or will be, construed as an admission of the claims or defenses of the

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Parties;

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IT IS FURTHER STIPULATED AND AGREED that this Stipulation and Order is in

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no way intended to impair the rights of Deutsche Bank (or any of its authorized agents, investors,

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affiliates, predecessors, successors, and assigns) to pursue any and all remedies against the

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Borrower, as defined in the Note, that Deutsche Bank (or any of its authorized servicers, agents,

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investors, affiliates, predecessors, successors, and assigns) may have relating to the Note,

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including the right to sue the Borrower for any deficiency judgment;

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IT IS FURTHER STIPULATED AND AGREED that each Party shall bear its own
fees and costs incurred in this litigation and settlement.
IT IS SO STIPULATED AND AGREED.

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WRIGHT, FINLAY & ZAK, LLP

ROGER P. CROTEAU & ASSOCIATES,
LTD.

/s/ Yanxiong Li, Esq.
Yanxiong Li, Esq.
Nevada Bar No. 12807
Attorney for Plaintiff, Deutsche Bank National
Trust Company, formerly known as Bankers
Trust Company of California, N.A., as Trustee
for American Home Mortgage Assets Trust
2006-1

/s/ Timothy E. Rhoda, Esq.
Roger P. Croteau, Esq.
Nevada Bar No. 4958
Timothy E. Rhoda, Esq.
Nevada Bar No. 7878
Attorneys for Defendant, Thunder Properties,
Inc.

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ORDER

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Based on the foregoing Stipulation by and between the parties, and good cause

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appearing, IT IS SO ORDERED.

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January 28, 2019
Dated:_______________________

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_________________________________________
UNITED STATES DISTRICT COURT JUDGE

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