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Wells Fargo Bank, N.A. v. Hoa

United States District Court, D. Nevada

April 2, 2019

WELLS FARGO BANK, N.A., AS TRUSTEE FOR THE HOLDERS OF THE SARM 2005-14 TRUST FUND, Plaintiff,
v.
TIDES I HOA AKA THE SANCTUARY OWNERS ASSOCIATION; NEVADA ASSOCIATION SERVICES, INC.; DOE INDIVIDUALS I-X, inclusive, and ROE CORPORATIONS I-X, inclusive, Defendants.

          MELANIE D. MORGAN, ESQ. TENESA S. POWELL, ESQ. AKERMAN LLP Attorneys for Plaintiff Wells Fargo Bank, N.A., as Trustee for the Holders of the SARM 2005-14 Trust Fund

          AKERMAN LLP Tenesa Powell MELANIE D. MORGAN, ESQ. TENESA S. POWELL, ESQ. Attorneys for Plaintiff Wells Fargo Bank, N.A., as Trustee for the Holders of the SARM 2005-14 Trust Fund

          LIPSON NEILSON, P.C. Peter Dunkley KALEB D. ANDERSON, ESQ. PETER E. DUNKLEY, ESQ. Attorneys for the Tides I Homeowners Association

          STIPULATION AND ORDER OF FINAL JUDGMENT CONFIRMING EXISTENCE AND VALIDITY OF DEED OF TRUST

         Plaintiff Wells Fargo Bank, N.A., as Trustee for the Holders of the SARM 2005-14 Trust Fund (Wells Fargo), and defendant Tides I HOA aka The Sanctuary Owners Association (Tides or HOA) stipulate as follows:

         1. This matter relates to real property located 8037 Arcadian Lane, Las Vegas, Nevada 89147-3711, APN 163-16-615-037. The property is more specifically described as:

PARCEL 1:
LOT ONE HUNDRED EIGHT (108) BLOCK TWO (2) OF CIMARRON SPRINGS - UNIT 1, AS SHOWN BY MAP THEREOF ON FILE IN BOOK 80 OF PLATS, PAGE 38 IN THE OFFICE OF THE COUNTY RECORDER OF CLARK COUNTY, NEVADA.
1PARCEL 2:
A NON-EXCLUSIVE EASEMENT AS TO EACH LOT FOR INGRESS, EGRESS, USE AND ENJOYMENT IN AND TO THE COMMON ELEMENTS AND PRIVATE DRIVES AS SET FORTH IN THE DECLARATION OF COVENANTS, CONDITIONS, RESTRICTIONS AND RESERVATION OF EASEMENTS FOR THE SANCTUARY OWNERS ASSOCIATION RECORDED MARCH 25, 1998 IN BOOK 980325 AS DOCUMENT NO. 01108 SUPPLEMENTS IN THE OFFICE OF THE COUNTY RECORDER OF CLARK COUNTY, NEVADA.

         2. Wells Fargo is the beneficiary of record of a deed of trust that encumbers the Property and was recorded on March 31, 2005 as Instrument No. 20050331-0003381, in the Official Records of Clark County, Nevada (the Deed of Trust).

         3. On August 3, 2012, Tides recorded a foreclosure deed as Instrument No. 201208170001129 in the Official Records of Clark County, Nevada (the HOA Foreclosure Deed), reflecting that Tides purchased the property at a foreclosure sale of the property conducted by Nevada Association Services, Inc. (NAS) on August 3, 2012 (the HOA Sale). Tides has not transferred its interest in the property and is still the title holder of record.

         4. On June 24, 2015, Wells Fargo initiated a quiet title action against Tides and NAS in the United States District Court, District of Nevada, No. 2:15-cv-01204.

         5. Wells Fargo, Tides and Bank of America, N.A. have entered a confidential settlement agreement in which they have settled all claims between them in this case. This stipulation and order applies to the matters addressed in this particular case only and has no relevance to any other matter. ///

         6. The Deed of Trust survived and was not extinguished in any capacity by the HOA Sale. The Deed of Trust remains a valid encumbrance against the property following the recording of the HOA Foreclosure Deed, and Tides' ownership interest in the property is subject to the Deed of Trust. Nothing in this Order alters the ...


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