United States District Court, D. Nevada
USROF III LEGAL TITLE TRUST 2015-1, BY U.S. BANK NATIONAL ASSOCIATION, AS LEGAL TITLE TRUSTEE, Plaintiff,
TBD, LLC, a Nevada Limited-Liability Company; TBR I, LLC, a Nevada Limited-Liability Company; AIRMOTIVE INVESTMENTS, LLC, a Nevada Limited-Liability Company; HIGHLAND RANCH HOMEOWNERS ASSOCIATION, a Nevada Non-Profit Corporation; KERN & ASSOCIATES, LTD., a Nevada Corporation, Defendants.
WRIGHT, FINLAY & ZAK, LLP, Dana Jonathon Nitz, Esq.
Nevada Bar No. 0050 Paterno C. Jurani, Esq. Nevada Bar No.
8136 Natalie C. Lehman, Esq. Nevada Bar No. 12995, Attorneys
for Plaintiff, USROF III Legal Title Trust 2015-1, by U.S.
Bank National Association, as Legal Title Trustee
& ASSOCIATES, LTD., Karen M. Ayarbe, Esq. Nevada Bar No.
3358 5421 Kietzke Lane, Ste. 200 Reno, Nevada 89511 Attorneys
for Defendant, Gayle A. Kern, Ltd., dba Kern &
STIPULATION AND ORDER FOR DISMISSAL WITHOUT PREJUDICE
OF GAYLE A. KERN, LTD., DBA KERN & ASSOCIATES,
RICHARD F. BOULWARE, II, United States District Judge
USROF III Legal Title Trust 2015-1, by U.S. Bank National
Association, as Legal Title Trustee (hereinafter “U.S.
Bank” or “Plaintiff”), by and through its
attorneys of record, Dana Jonathon Nitz, Esq., Paterno C.
Jurani, Esq., and Natalie C. Lehman, Esq., of the law firm of
Wright, Finlay & Zak, LLP, and Defendant Gayle A. Kern,
Ltd., dba Kern & Associates, Ltd. (“K&A,
” and collectively with “U.S. Bank” as the
“Parties”), by and through its attorneys of
record, Karen M. Ayarbe, Esq. of Kern & Associates, Ltd.
hereby stipulate and agree as follows:
the above-captioned action concerns Defendant, Highland Ranch
Homeowners Association's (the “Association”)
NRS Chapter 116 non-judicial foreclosure sale on or about
March 19, 2013 (“HOA Sale”) involving certain
real property located in Washoe County, Nevada, commonly
known as 6360 Zuni Court, Sun Valley, Nevada 89433, APN:
U.S. Bank filed its Complaint on August 1, 2017, alleging
several causes of action against K&A in connection with
the HOA Sale and the Property [ECF No. 1];
K&A has never claimed, any interest in the Property;
THEREFORE, IT IS HEREBY STIPULATED AND AGREED that the
Complaint against Defendant K&A is hereby dismissed in
its entirety without prejudice;
FURTHER STIPULATED AND AGREED that K&A shall not contest,
seek reconsideration of, and/or appeal any final order,
judgment or decree as to the validity and enforceability of
the HOA Sale of the Property.
FURTHER STIPULATED AND AGREED as follows:
1. The period of time commencing of August 1, 2017
(the “Effective Date”) and ending on the
Termination Date (as that term is defined in paragraph 4
below), shall not be included in determining the
applicability of any statute of limitations, laches, or any
other defense based on lapse of time in any action or
proceeding brought by U.S. Bank against K&A with respect
to the HOA Sale, the Property, and the Complaint;
2. Except as is set forth in the preceding paragraph, nothing
in this Stipulation shall diminish or affect any defense
available to any Party as of the date of this Stipulation,
and this Stipulation shall not be deemed to revive any claim,
remedy, and/or cause of action, legal or equitable, that is
or was already barred as of the Effective Date, nor shall
this Stipulation create any new claim, remedy, and/or cause
of action, legal or equitable, against any Party hereto.
Nothing in this Stipulation, or in the circumstances that
gave rise to this Stipulation shall be construed as an
acknowledgement by any Party that any claim, remedy, and/or
cause of action, legal or equitable, has or has not been
barred, or is about to be barred, by the statute of
limitations, laches, or other defense based on the lapse of
3. This Stipulation shall not operate as an admission of
liability by any Party. Neither this Stipulation nor any
action taken pursuant to this Stipulation shall be offered or
received in evidence in any action or proceeding as an
admission of liability or wrongdoing by any Party;
4. Any Party may terminate this Stipulation on thirty (30)
days' written notice to counsel for the other Parties.
The Termination Date shall be the first business day
following thirty (30) days after a Party has provided ...