U.S. Bank Trust, N.A. as Trustee for Volt Asset Holdings Trust XVI vs Beverly Blair Corso Trust

Filing 53

ORDER granting ECF No. 52 Joint Stipulation for Dismissal of All Claims. Signed by Judge Miranda M. Du on 3/1/2018. (Copies have been distributed pursuant to the NEF - LH)

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David E. Adkins, Esq.
Nevada Bar No. 4503
LAW OFFICE OF DAVID E. ADKINS
611 Sierra Rose Drive, Suite B
Reno, NV 89511
Tele: [phone]
Fax: [phone]
davida,algnv.com
Attorney for Defendant Beverly-Blair Corso Trust
UNITED STATES DISTRICT COURT
DISTRICT OF NEVADA

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U.S. BANK TRUST, N.A. AS TRUSTEE FOR
VOLT ASSET HOLDINGS TRUST XVI,
Plaintiff,

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Case No.: 3:16-cv-00689-MMD-VPC

JOINT STIPULATED JUDGMENT AND
ORDER OF DISMISSAL OF ALL
CLAIMS

v.
BEVERLY BLAIR CORSO TRUST;
STONEFIELD HOMEOWNERS
ASSOCIATION; DOE Individual I-X inclusive;
and ROE business entities XI-XX inclusive,

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Defendants.

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Plaintiff, U.S. Bank Trust, N.A. as Trustee for Volt Asset Holdings Trust XVI ("U.S.

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Bank"), by and through its attorneys of record, the law firm of Wright, Finlay & Zak, LLP,

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Defendant Beverly Blair Corso Trust ("Beverly"), by and through its attorney of record, David

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E. Adkins, Esq., and Defendant Stonefield Homeowners Association ("Stonefleld"), by and

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through its attorneys of record, the law firm of Perry & Westbrook, being all parties to the
action, hereby stipulate and agree as follows:

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WHEREAS:

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1.

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The real property which is the subject of this case is commonly known as 7723

Corso Street, Reno, Nevada 89506, APN No. 080-834-07 (the "Property") and is governed by

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the Stonefield Homeowners Association;
2.

U.S. Bank is the holder of a first Deed of Trust securing a promissory note in the

original amount of $360,000.00 made on or about May 15, 2006 ("Note"), by Jeffery C.
Birmingham and Hiesen Birmingham ("Borrowers") and recorded on May 19, 2006 in the

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Official Records of Washoe County, Nevada as Book and Instrument Number 3389941 ("Deed
of Trust");
3.

On May 13, 2011, a Notice of Perfection of Assessment Lien and Notice of

Delinquent Assessment and Claim of Lien Homeowners Association was recorded against the
Property by Gayle A. Kern, Esq. ("Kern"), as agent of Stonefield;

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4.

On August 27, 2012, a Notice of Default and Election to Sell was recorded

against the Property by Kern, as agent for Stonefield;
5.

On March 22, 2013, a Notice of Homeowners Association Sale was recorded

against the Property by Kern, as agent for Stonefield;

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6.

Kern sold the Property on behalf of Stonefield on or about April 25, 2013,

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("HOA Sale") to Nadina Beverly, as Trustee for Beverly Blair Corso Trust.
7.

On May 21, 2013, a Deed in Foreclosure of Assessment Lien naming Beverly as

the grantee was recorded as Instrument No. 4239173 Official Records of Washoe County,
Nevada;

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8.

On November 29, 2016, U.S. Bank filed a Complaint for Quiet Title in the

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instant action (ECF No. 1) naming Beverly as Defendant;
9.

On September 28, 2017, U.S. Bank filed its First Amended Complaint for Quiet

Title (ECF No. 29) adding Stonefield as Defendant;
10.

On October 12, 2017, Stonefield filed its Answer to the First Amended

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Complaint.

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Complaint.

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12.

On October 16, 2017, Beverly filed her Motion to Dismiss the First Amended

The Parties have now come to a resolution regarding their respective claims and

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interest in the Property;
13.

The Parties have executed a settlement agreement, the terms of which are

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confidential, but under which U.S. Bank agrees to forego all right, title and interest in the

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Property and to disclaim its interest thereto, for agreed-upon consideration;

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14.

By virtue of the settlement and U.S. Bank's disclaimer, title to the Property is

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and hereafter shall be vested in Beverly, free and clear of all right, title and interest claimed by

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U.S. Bank, its successors and assigns, under the Deed of Trust. The court may enter an order to

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this effect;

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15.

All other claims asserted by or against any of the Parties hereto shall be

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dismissed with prejudice;
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16.

Nothing in this stipulation should be construed as intended to benefit any other

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party not identified as the Parties hereto, and in particular, shall not constitute a waiver or

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relinquishment of any claims by U.S. Bank against the Borrowers; and

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17.

Pursuant to NRS 40.020, no Party may recover costs or attorney's fees against

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the other as a result of this disclaimer of interest; and
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settlement.

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Each Party shall bear its own fees and costs incurred in this litigation and

IT IS HEREBY STIPULATED AND AGREED that judgment for quiet title shall be
granted in favor of Beverly;

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IT IS FURTHER STIPULATED AND AGREED that the above-referenced matter,

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including all remaining claims for relief, by and between all Parties, shall be dismissed WITH

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PREJUDICE.

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IT IS FURTHER STIPULATED AND AGREED that all pending hearings shall be

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vacated, as moot.

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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 no

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way intended to impair the rights of U.S. 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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Borrowers, as defined in the Note, that U.S. 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 the settlement entered into by and

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between the Parties has been entered into in good faith, pursuant to NRS 17.245 and applicable

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case law, and any and all claims, counterclaims and third-party claims for contribution or

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equitable/implied indemnity of any party, person or entity against Beverly, Stonefield and/or

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U.S. Bank, whether compulsory or permissive, whether asserted or not, whether legal or
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equitable, related in any way to the claims asserted in the case at bar, shall be forever discharged
and barred, with prejudice.
IT IS FURTHER STIPULATED AND AGREED that each Party shall bear its own
attorney's fees and costs.

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IT IS FURTHER STIPULATED AND AGREED that a copy of this Stipulated
Judgment may be recorded with the Washoe County Recorder.
Dated this 28t1
I1ay Of February

, 2018.

Dated this 28t1tlay of February

WRIGHT, FINLAY & ZAK, LLP

The Law Offices of David E. Adkins

/s/ Rock K. Jung, Esq.

/s/ David E. Adkins, Esq.
David E. Adkins, Esq.
Nevada Bar No. 4503
611 Sierra Rose Drive
Reno, NV 89511
david(algnv.com
Attorney for Defendant Beverly Blair Corso
Trust

Edgar C. Smith, Esq.
Nevada Bar No. 5506
Rock K. Jung Esq.
Nevada Bar No. 10906
7785 W. Sahara Ave., Suite 200
Las Vegas, Nevada 89117
rjuna@wri(2htleg,al.net
Attorneys. for Plaintiff US. Bank
Dated this 28tItlay of February

, 2018.

Perry & Westbrook
/s/ Alan W. Westbrook, Esq.
Alan W. Westbrook, Esq.
Nevada Bar No. 6167
1701 W. Charleston Blvd., Suite 200
Las Vegas, Nevada 89102
[e-mail]
Attorneys for Defendant Stonefield
Homeowners Association

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, 2018.

IT IS SO ORDERED:

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UNITED STATES DISTRICT JUDGE

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DATED: March 1, 2018

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