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U.S. Bank National Association v. SFR Investments Pool 1, LLC

United States District Court, D. Nevada

May 8, 2018

U.S. BANK, NATIONAL ASSOCIATION AS TRUSTEE FOR THE FIRST FRANKLIN MORTGAGE LOAN TRUST, MORTGAGE ASSET-BACKED CERTIFICATES, SERIES 2007-FF1, Plaintiff,
v.
SFR INVESTMENT POOL 1, LLC, a Nevada Limited Liability Company; D'ANDREA COMMUNITY ASSOCIATION, a Domestic Non-Profit Corporation; ALESSI & KOENIG, LLC, a Domestic Limited Liability Company, Defendants. SFR INVESTMENT POOL 1, LLC, a Nevada Limited Liability Company, Counterclaimant,
v.
U.S. BANK, NATIONAL ASSOCIATION AS TRUSTEE FOR THE FIRST FRANKLIN MORTGAGE LOAN TRUST, MORTGAGE ASSET-BACKED CERTIFICATES, SERIES 2007-FF1, Counter-Defendant.

          WRIGHT, FINLAY & ZAK, LLP Natalie C. Lehman, Esq. Nevada Bar No. 12995 Attorneys for Plaintiff/Counter-defendant, U. Bank National Association, as Trustee for the First Franklin Mortgage Loan Trust, Mortgage Asset-Backed Certificates, Series 2007-FF1

          BOYACK ORME & ANTHONY Adam J. Breeden, Esq. Nevada Bar No. 008768 Attorneys for Defendant, D'Andrea Community Association

          STIPULATION AND ORDER TO DISMISS DEFENDANT D'ANDREA COMMUNITY ASSOCIATION WITH PREJUDICE

         Plaintiff/Counter-defendant, U.S. Bank National Association, as Trustee for the First Franklin Mortgage Loan Trust, Mortgage Asset-Backed Certificates, Series 2007-FF1 (hereinafter “U.S. Bank”) and Defendant, D'Andrea Community Association (hereinafter “D'Andrea” and/or “HOA”), by and through their respective attorneys of record, hereby stipulate and agree as follows:

         WHEREAS:

         1. The real property which is the subject of this civil action consists of a residence commonly known as 2546 Napoli Drive, Sparks, Nevada 89434, APN 402-283-13 (hereinafter “Property”), and is part of D'Andrea Community Association;

         2. U.S. Bank is the holder of a first Deed of Trust securing a loan in the amount of $236, 000.00 made on or about November 28, 2006 (“Note”) by Troy F. Rheaume and Troy T. Owen (“Borrowers”) and recorded on November 30, 2006 in the Official Records of Washoe County, Nevada as Document Number 3469202 (“Deed of Trust”);

         3. On June 14, 2013, a Trustee's Deed Upon Sale was recorded memorializing a non-judicial foreclosure sale conducted by Alessi & Koenig, LLC on behalf of D'Andrea, wherein the Property was conveyed to SFR Investments Pool 1, LLC (hereinafter “SFR”) for the purchase price of $9, 000.00;

         4. On January 27, 2016, U.S. Bank filed an Amended Complaint for Wrongful Foreclosure, among other claims, against D'Andrea in Case Number 3:15-cv-00241-RCJ-WGC;

         5. On November 3, 2017, U.S. Bank filed a Motion for Summary Judgment regarding its claims against D'Andrea [ECF No. 153]; 6. On December 29, 2017, D'Andrea filed its Countermotion for Summary Judgment [ECF No. 157];

         7. U.S. Bank and D'Andrea have now come to a resolution regarding their respective claims and interest in the Property and have entered into a Confidential Settlement Agreement;

         8. In accordance with the Confidential Settlement Agreement, all claims asserted by U.S. Bank against D'Andrea shall be dismissed with prejudice;

         9. Nothing in this Stipulation should be construed as intended to benefit any other party not identified as the undersigned Parties hereto, and in particular, shall not constitute a waiver or relinquishment of any claims or defenses by U.S. Bank against SFR; and

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

         IT IS HEREBY STIPULATED AND AGREED that Defendant, D'Andrea Community Association is ...


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