Bank of America, N.A. v. LVDG Series 113, established under LVDG, LLC et al

Filing 46

ORDER granting ECF No. 45 Stipulation for Dismissal with Prejudice as to LVDG, TPI and HOA. Signed by Judge Miranda M. Du on 1/24/2019. (Copies have been distributed pursuant to the NEF - LH)

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WRIGHT, FINLAY & ZAK, LLP
Dana Jonathon Nitz, Esq. (SBN 0050)
Yanxiong Li, Esq. (SBN 12807)
7785 W. Sahara Ave., Suite 200
Las Vegas, NV 89117
[phone]; Fax: [phone]
[e-mail]
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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Case No.: 3:17-cv-00076-MMD-VPC

BANK OF AMERICA, N.A.,

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Plaintiff,

STIPULATION AND ORDER FOR
DISMISSAL OF ACTION WITH
PREJUDICE

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vs.
LVDG SERIES 113, established under LVDG,
LLC, a Nevada series Limited-Liability
Company; SADDLEHORN HOMEOWNERS’
ASSOCIATION, a Nevada Non-Profit
Corporation; THUNDER PROPERTIES, INC.,
a Nevada Corporation,
Defendants.

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Plaintiff, BANK OF AMERICA, N.A. (“BANA”), by and through its attorneys of record,

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Dana Jonathon Nitz, Esq. and Yanxiong Li, Esq. of the law firm of Wright, Finlay & Zak, LLP;

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Defendants LVDG SERIES 113 (“LVDG”) and THUNDER PROPERTIES, INC. (“TPI”), by

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and through their undersigned counsels; and Defendant SADDLEHORN HOMEOWNERS’

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ASSOCIATION (“HOA”), by and through its undersigned counsels, hereby stipulate and agree

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

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judicial foreclosure sale that occurred on or about June 6, 2013 (“HOA Sale”) involving certain

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real property located in Washoe County, Nevada, commonly known as 14155 Quiet Meadow

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Court, Reno, Nevada 89511; A.P.N. 150-201-12 (“Property”);
WHEREAS as a result of the HOA Sale, LVDG Series 113 (“LVDG”) claimed title to

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the Property, purportedly free and clear of BANA’s interest as the record beneficiary of a Deed

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of Trust recorded in the official records of the Washoe County, Nevada Recorder’s Office on

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March 11, 2008 as Document Number 3629026 (“Deed of Trust”);

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WHEREAS as a result of the HOA Sale, Alessi & Koenig, LLC collected proceeds in
excess of the HOA’s statutory lien in the amount of $42,617.17 (the “Excess Proceeds”);

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WHEREAS LVDG subsequently conveyed its purported interest in the Property to TPI,

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and TPI then claimed title to the Property, purportedly free and clear of BANA’s interest as the

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record beneficiary of the Subject Deed of Trust;
WHEREAS BANA filed its Complaint on February 3, 2017 (the “Action”), alleging

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

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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 BANA agrees to relinquish its right, title and

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interest in the Property for agreed-upon consideration;

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Page 2 of 4

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WHEREAS LVDG, TPI and HOA agree 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
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 BANA against the Borrower; and

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

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IT IS HEREBY STIPULATED AND AGREED that claims asserted against LVDG,
TPI and HOA in BANA’s Complaint shall be dismissed with prejudice;

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IT IS FURTHER STIPULATED AND AGREED that LVDG, TPI and HOA 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 BANA (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 BANA (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

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fees and costs incurred in this litigation and settlement.

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IT IS SO STIPULATED AND AGREED.

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WRIGHT, FINLAY & ZAK, LLP

ROBBINS LAW FIRM

/s/ Yanxiong Li, Esq.
Yanxiong Li, Esq.
Nevada Bar No. 12807
7785 W. Sahara Avenue, Suite 200
Las Vegas, NV 89117
Attorneys for Plaintiff, Bank of America, N.A.

/s/ Elizabeth Lowell, Esq.
Elizabeth Lowell, Esq.
Nevada Bar No. 8551
1995 Village Center Cir., Suite 190
Las Vegas, NV 89134
Attorneys for Defendant, Saddlehorn
Homeowners’ Association

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ROGER P. CROTEAU & ASSOCIATES,
LTD

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/s/ Timothy E. Rhoda, Esq.
Timothy E. Rhoda, Esq.
Nevada Bar No. 7878
9120 West Post Road, Suite 100
Las Vegas, NV 89148
Attorneys for Defendants, LVDG Series 113
and Thunder Properties, Inc.

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ORDER
Based on the foregoing Stipulation by and between the parties, and good cause
appearing, IT IS SO ORDERED.

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January 24, 2019
Dated:_______________________
_________________________________________
UNITED STATES DISTRICT COURT JUDGE

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