US Bank National Association v. Villa Vecchio Ct Trust

1 Alex L. Fugazzi, Esq.

Nevada Bar No. 9022 Wayne Klomp, Esq.

3 Nevada Bar No. 10109 SNELL & WILMER Lv.

4 50 West Liberty Street, Suite 510 Reno, Nevada 89501 || Telephone: 775-785-5440 Facsimile: 775-785-5441 Email: [email protected] 7 [email protected] Attorneys for US Bank National Association and Wells Fargo Bank, N.A.

10 UNITED STATES DISTRICT COURT 11 DISTRICT OF NEVADA 2. 13 || USBANK NATIONAL ASSOCIATION, AS TRUSTEE, SUCCESSOR IN INTEREST TO Case No. 2:17-cv-00143-MMD-VCF || WACHOVIA BANK, NATIONAL ASSOCIATION AS TRUSTEE FOR WELLS PROPOSED ORDER REGARDING || FARGO ASSET SECURITIES CROSS MOTIONS FOR SUMMARY CORPORATION, MORTGAGE PASS- JUDGMENT 16 THROUGH CERTIFICATES, SERIES 2005- AR2 AT 4801 FREDERICA STREET, | OWENSBORO, KY 42301, a national association; WELLS FARGO BANK, N.A., a 18 national association; 19 Plaintiffs, || vs. || VILLA VECCHIO CT. TRUST, a Nevada trust; ABSOLUTE COLLECTION || SERVICES, LLC, a Nevada limited-liability company; THE FOOTHILLS AT || SOUTHERN HIGHLANDS HOMEOWNERS ASSOCIATION, a Nevada || non-profit corporation; 25 Defendants.

4 AND ALL RELATED CASES

1 This action involves a dispute regarding superior interests in the real property known a: || 5147 Villa Vecchio Ct., Las Vegas, Nevada 89141, APN 176-36-514-048 (the “Property”). The || litigants each filed affirmative claims for quiet title seeking to declare their interest in the Property || superior to the other litigants’ claims.

5 On July 31, 2019, Plaintiffs and Counter-Defendants US Bank National Association, a: || Trustee, Successor in Interest to Wachovia Bank, National Association as Trustee for Wells □□□□□ || Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-AR2 at 480: || Frederica Street, Owensboro, KY 42301 (“US Bank”) and Wells Fargo Bank, N.A. (“Wells Fargo,’ || and with US Bank, “Plaintiffs”) filed their Motion for Summary Judgment (ECF No. 65). On the || same date, Defendant and Counter-Claimant Villa Vecchio Ct. Trust (“Villa Vecchio” o || “Defendant”) filed its Motion for Summary Judgment (ECF No. 64). The cross motions fo: || summary judgment came before this court for oral argument on February 14, 2020. □□□□□□ | 13 || considered the pleadings and papers on file and heard the oral argument of counsel, the Court issuec || its findings of fact and conclusions of law on the record at the motion hearing as also indicated i1 | 2 x 15 || the Minute Order dated February 19, 2020 (ECF No. 72). | 16 And as more fully set forth in the transcript of the motion hearing, which is incorporated a: || though set forth herein, the Court takes judicial notice of the publicly available documents attachec || as exhibits to Plaintiffs’ Motion for Summary Judgment. Disabled Rights Action Comm. V. La: 19 Vegas Events, Inc., 375 F.3d 861, 866 & n.1 (9th Cir. 2004).

20 After reciting findings on the record, which are also incorporated herein, the Court held tha || US Bank’s Deed of Trust survived the homeowners’ association foreclosure sale of the Property || and remains a valid property interest encumbering the Property because the super-priority lier || portion of the HOA’s lien was satisfied prior to the foreclosure sale. Based upon that holding, the || Court rules as follows: 25 IT IS HEREBY ORDERED that Defendant’s Motion for Summary Judgment (ECF No. 64 || is denied, and judgment is entered against Defendant Villa Vecchio on its Counterclaims (ECF No || 52). _2- 1 IT IS FURTHER ORDERED that Plaintiffs’ Motion for Summary Judgment (ECF No. 65 || is granted, and the Court holds that the Deed of Trust survived the association foreclosure sale || because the super-priority lien was satisfied by the borrower prior to the HOA’s foreclosure sale.

4 IT IS FURTHER ORDERED that Plaintiffs’ remaining claims as set forth in its Complain || (ECF No. 1) are dismissed as moot.

6 IT IS FURTHER ORDERED that, there being no further claims as against any □□□□□□□□□ || party, the Clerk of the Court shall enter Judgment in favor of Plaintiffs and close the case.

9 IT IS SO ORDERED.

10 7.

TS LLL — M UNITED STATES DISTRICT JUDGE DATED: February 24,2020 00 | 2 «1B

| 18 Respectfully submitted by: 19 /s/ Wayne Klomp Alex L. Fugazzi, Esq. (NV Bar No. 9022) Wayne Klomp, Esq. (NV Bar No. 10109) 21 SNELL & WILMER L.L.P. W. Liberty Street, Suite 510 22 Reno, Nevada 89501-1961 33 Attorneys for US Bank and Wells Fargo _3- 1 CERTIFICATE OF SERVICE 2 Thereby certify that on this date, I electronically filed the foregoing with the Clerk of Court || for the U.S. District Court, District of Nevada by using the Court’s CM/ECF system. Participants || in the case who are registered CM/ECF users will be served by the CM/ECFE system.

6 DATED: February 24, 2020.

7 /s/ Lara J. Taylor An Employee of Snell & Wilmer L.L.P. | 13 | 16 _4-