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Wilmington Trust, N.A. v. Saticoy Bay LLC Series 206 Valerian

United States District Court, D. Nevada

November 19, 2019

WILMINGTON TRUST, NATIONAL ASSOCIATION, NOT IN ITS INDIVIDUAL CAPACITY BUT AS TRUSTEE OF ARLP SECURITIZATION TRUST, SERIES 2014-2, Plaintiff,
v.
SATICOY BAY LLC SERIES 206 VALERIAN; CINNAMON RIDGE COMMUNITY ASSOCIATION; and NEVADA ASSOCIATION SERVICES, INC., Defendants.

          WRIGHT, FINLAY & ZAK, LLP Dana Jonathon Nitz, Esq. Nevada Bar No. 0050 Paterno C. Jurani, Esq. Nevada Bar No. 8136 Attorneys for Plaintiff/Counter-Defendant, Wilmington Trust, National Association, not in it s individual capacity but as Trustee of ARLP Securitization Trust, Series 2014-2

          LAW OFFICES OF MICHAEL F. BOHN, ESQ. LTD Michael F. Bohn, Esq. Nevada Bar No. 1641 Adam R. Trippiedi, Esq. Nevada Bar No. 12294 Nikoll Nikci, Esq. Attorneys for Defendant/Counterclaimant, Saticoy Bay LLC Series 206 Valerian

          STIPULATION AND ORDER TO DISMISS REMAINING CLAIMS WITHOUT PREJUDICE AND FOR ENTRY OF FINAL JUDGMENT PURSUANT TO FRCP 54(B) ECF NO. 78

          JENNIFER DORSEY U.S. DISTRICT JUDGE.

         COME NOW Plaintiff/Counter-Defendant, Wilmington Trust, National Association, not in its individual capacity but as Trustee of ARLP Securitization Trust, Series 2014-2 (“Wilmington Trust”), Defendant/Counterclaimant, Saticoy Bay LLC Series 206 Valerian (“Saticoy Bay”), and Defendant, Cinnamon Ridge Community Association (“Cinnamon Ridge” or the “HOA”) (individually, a “Party, ” and collectively, the “Parties”), by and through their attorneys of record, and hereby stipulate and agree as follows:

         WHEREAS:

1. The instant action is primarily one for Quiet Title and Declaratory Relief related to real property commonly known as 206 Valerian Street, Henderson, Nevada 89015; APN: 179-16-217-025 (the “Property”), which was purportedly purchased by Defendant, Saticoy Bay LLC Series 206 Valerian (“Saticoy Bay”) at a homeowners association lien foreclosure sale on August 1, 2014 (the “HOA Sale”).
2. The Property lies within the boundaries of a common-interest community governed by Cinnamon Ridge Community Association.
3. Pursuant to Wilmington Trust's Amended Complaint filed on January 11, 2019 [ECF No. 31], Wilmington Trust alleges that the HOA Sale did not serve to extinguish its security interest in the Property for various reasons or, in the alternative, the HOA Sale was void and ineffective.
4. Pursuant to Saticoy Bay's Answer to Amended Complaint and Counterclaim filed on May 24, 2019 [ECF No. 51], Saticoy Bay asserts that the HOA Sale served to extinguish any and all security interests that may have then existed against the Property, including a deed of trust owned by Wilmington Trust.
5. In addition to its claims against Saticoy Bay for Quiet Title/Declaratory Relief and other claims, Wilmington Trust also alleged claims against Cinnamon Ridge for Quiet Title/Declaratory Relief, Unjust Enrichment, Wrongful/Defective Foreclosure, Negligence, Negligence Per Se, Breach of Contract, Misrepresentation, and Breach of Good Faith and Fair Dealing.
6. On February 4, 2019, Saticoy Bay filed a Motion to Dismiss Amended Complaint [ECF No. 35]. On February 19, 2019, Cinnamon Ridge filed a Motion to Dismiss [ECF No. 39].
7. On May 23, 2019, Wilmington Trust filed a Motion for Summary Judgment [ECF No. 49]. On May 24, 2019, Cinnamon Ridge filed a Motion for Summary Judgment [ECF No. 50]. Also on May 24, 2019, Saticoy Bay filed a Motion for Summary Judgment [ECF No. 52].
8. On September 26, 2019, the Court entered its Order Granting in Part and Denying in Part Motions for Summary Judgment and to Dismiss [ECF No. 70]. The Court granted summary judgment in favor of Wilmington Trust on its and Saticoy Bay's quiet title claim, and declared that the deed of trust survived the HOA Sale. Further, the Court dismissed Wilmington Trust's claims for Negligence, Negligence Per Se, and Misrepresentation against Cinnamon Ridge. The Court also ordered a settlement conference as to Wilmington Trust's Unjust Enrichment claim against Saticoy Bay and Cinnamon Ridge, and its claims against Cinnamon Ridge for Breach of Contract and Breach of Good Faith and Fair Dealing.
9. On September 27, 2019, the Court entered its Order setting a settlement conference for December 3, ...

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