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The Bank of New York Mellon v. Park Avenue Homeowners' Association

United States District Court, D. Nevada

July 23, 2018

THE BANK OF NEW YORK MELLON FKA THE BANK OF NEW YORK, AS TRUSTEE FOR THE HOLDERS OF THE CERTIFICATES, FIRST HORIZON MORTGAGE PASS-THROUGH CERTIFICATES SERIES FHAMS 2006-AA5, BY FIRST HORIZON HOME LOANS, A DIVISION OF FIRST TENNESSEE BANK NATIONAL ASSOCAITION, MASTER SERVICER, IN ITS CAPACITY AS AGENT FOR THE TRUSTEE UNDER THE POOLING AND SERVICING AGREEMENT, Plaintiff,
v.
PARK AVENUE HOMEOWNERS' ASSOCATION AND RED ROCK FINANCIAL SERVICES, LLC, Defendants.

          MELANIE D. MORGAN, ESQ. Nevada Bar No. 8215 DONNA WITTIG, ESQ. Nevada Bar No. 11015 Akerman LLP Attorneys for Plaintiff The Bank of New York Mellon f/k/a The Bank of New York

          AKERMANLLP Donna M. Wittie MELANIE D. MORGAN ESQ. Nevada Bar No. 8215 DONNA M. WITTIG, ESQ. Nevada Bar No. 11015 Attorneys for plaintiff The Bank of New York Mellon f/k/a The Bank of New York

          MARQUIS AURBACH COFFING Avece M. Hibee AVECE M. HIGBEE, ESQ. Nevada Bar No. 3739 CODY S. MOUNTEER, ESQ. Nevada Bar No. 11220 JAMES ALLAN BECKSTROM, II, ESQ. Nevada Bar No. 14032 Attorneys for defendant Park Avenue Homeowners Association

          KOCH & SCOW LLC Steven Scow DAVID R. KOCH, ESQ. Nevada Bar No. 8830 STEVEN B. SCOW, ESQ. Nevada Bar No. 9906 BRODY R. WIGHT, ESQ. Nevada Bar No. 13615 Attorneys for defendant Red Rock Financial Services, LLC

          STIPULATION AND ORDER FOR DISMISSAL OF ALL CLAIMS WITH PREJUDICE AND RELEASE OF NOTICE OF LIS PENDENS

         Plaintiff The Bank of New York of New York Mellon f/k/a The Bank of New York, as Trustee for the holders of the Certificates, First Horizon Mortgage Pass-Through Certificates Series FHAMS 2006-AA5, by First Horizon Home Loans, a division of First Tennessee Bank National Association, Master Servicer, in its capacity as agent for the Trustee under the Pooling and Servicing Agreement (BoNYM) and defendants Park Avenue Homeowners' Association (Park Avenue) and Red Rock Financial Services, LLC (Red Rock) hereby stipulate to dismiss all claims asserted by plaintiff against defendants as follows:

         1. This matter relates to real property located at 63 East Agate Avenue, #202, Las Vegas, Nevada 89123 (the property).

         2. BoNYM is the beneficiary of a deed of trust encumbering the property, which was recorded on or about June 16, 2006 at document number 20060616-0005268 in the official records of Clark County, Nevada (the deed of trust).

         3. On or about July 23, 2012, Red Rock recorded a Foreclosure Deed at document number 201207230001661 in the official records of Clark County, Nevada, reflecting that Park Avenue purchased the property at the foreclosure sale on or about July 17, 2012 (the HOA Sale).

         4. On November 20, 2017, BoNYM initiated a lawsuit against Park Avenue and Red Rock in the United States District Court, District of Nevada, Case No. 2:17-cv-029U-MMD-NJK (the litigation).

         5. BoNYM, Park Avenue, and Red Rock have entered into a confidential settlement agreement wherein they have settled all claims between them in the litigation.

         6. The notice of lis pendens recorded on November 30, 2017, as Instrument No. 201711300002355 is hereby released.

         7. This release of notice of lis pendens affects title of real property located at 63 East Agate Avenue, #202, Las Vegas, Nevada 89123 with legal description of:

PARCEL I:
An undivided Fractional Interest as a tenant in common in the Common Elements as defined in Section 1.10 of the Declaration of Covenants, Conditions, and Restrictions for PARK AVENUE CONDOMINIUMS. A Common Interest Condominium Development recorded in the Office of the County Recorder of Clark County, Nevada on August 3, 2001 in Book 20010803 as Document No. 00962 as the same may from time to time ...

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