US Bank National Association v. Villa Vecchio Ct Trust ( 2020 )

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 5 || Telephone: 775-785-5440 6 Facsimile: 775-785-5441 Email: afugazzi@swlaw.com 7 wklomp@swlaw.com 8 Attorneys for US Bank National Association and Wells Fargo Bank, N.A. 9 10 UNITED STATES DISTRICT COURT 11 DISTRICT OF NEVADA 12 2. 13 || USBANK NATIONAL ASSOCIATION, AS TRUSTEE, SUCCESSOR IN INTEREST TO Case No. 2:17-cv-00143-MMD-VCF 14 || WACHOVIA BANK, NATIONAL ASSOCIATION AS TRUSTEE FOR WELLS PROPOSED ORDER REGARDING 15 || FARGO ASSET SECURITIES CROSS MOTIONS FOR SUMMARY CORPORATION, MORTGAGE PASS- JUDGMENT 16 THROUGH CERTIFICATES, SERIES 2005- AR2 AT 4801 FREDERICA STREET, 17 | OWENSBORO, KY 42301, a national association; WELLS FARGO BANK, N.A., a 18 national association; 19 Plaintiffs, 20 || vs. 21 || VILLA VECCHIO CT. TRUST, a Nevada trust; ABSOLUTE COLLECTION 22 || SERVICES, LLC, a Nevada limited-liability company; THE FOOTHILLS AT 23 || SOUTHERN HIGHLANDS HOMEOWNERS ASSOCIATION, a Nevada 24 || non-profit corporation; 25 Defendants. 26 4 AND ALL RELATED CASES 28 1 This action involves a dispute regarding superior interests in the real property known a: 2 || 5147 Villa Vecchio Ct., Las Vegas, Nevada 89141, APN 176-36-514-048 (the “Property”). The 3 || litigants each filed affirmative claims for quiet title seeking to declare their interest in the Property 4 || superior to the other litigants’ claims. 5 On July 31, 2019, Plaintiffs and Counter-Defendants US Bank National Association, a: 6 || Trustee, Successor in Interest to Wachovia Bank, National Association as Trustee for Wells □□□□□ 7 || Asset Securities Corporation, Mortgage Pass-Through Certificates, Series 2005-AR2 at 480: 8 || Frederica Street, Owensboro, KY 42301 (“US Bank”) and Wells Fargo Bank, N.A. (“Wells Fargo,’ 9 || and with US Bank, “Plaintiffs”) filed their Motion for Summary Judgment (ECF No. 65). On the 10 || same date, Defendant and Counter-Claimant Villa Vecchio Ct. Trust (“Villa Vecchio” o 11 || “Defendant”) filed its Motion for Summary Judgment (ECF No. 64). The cross motions fo: 12 || 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 14 || 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: 17 || though set forth herein, the Court takes judicial notice of the publicly available documents attachec 18 || 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 21 || US Bank’s Deed of Trust survived the homeowners’ association foreclosure sale of the Property 22 || and remains a valid property interest encumbering the Property because the super-priority lier 23 || portion of the HOA’s lien was satisfied prior to the foreclosure sale. Based upon that holding, the 24 || Court rules as follows: 25 IT IS HEREBY ORDERED that Defendant’s Motion for Summary Judgment (ECF No. 64 26 || is denied, and judgment is entered against Defendant Villa Vecchio on its Counterclaims (ECF No 27 || 52). 28 _2- 1 IT IS FURTHER ORDERED that Plaintiffs’ Motion for Summary Judgment (ECF No. 65 2 || is granted, and the Court holds that the Deed of Trust survived the association foreclosure sale 3 || 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 5 || (ECF No. 1) are dismissed as moot. 6 IT IS FURTHER ORDERED that, there being no further claims as against any □□□□□□□□□ 7 || party, the Clerk of the Court shall enter Judgment in favor of Plaintiffs and close the case. 8 9 IT IS SO ORDERED. 10 7. TS LLL — M UNITED STATES DISTRICT JUDGE 12 DATED: February 24,2020 00 | 2 «1B 15 | 17 18 Respectfully submitted by: 19 /s/ Wayne Klomp 0 Alex L. Fugazzi, Esq. (NV Bar No. 9022) Wayne Klomp, Esq. (NV Bar No. 10109) 21 SNELL & WILMER L.L.P. 50 W. Liberty Street, Suite 510 22 Reno, Nevada 89501-1961 33 Attorneys for US Bank and Wells Fargo 24 25 26 27 28 _3- 1 CERTIFICATE OF SERVICE 2 Thereby certify that on this date, I electronically filed the foregoing with the Clerk of Court 3 || for the U.S. District Court, District of Nevada by using the Court’s CM/ECF system. Participants 4 || in the case who are registered CM/ECF users will be served by the CM/ECFE system. 5 6 DATED: February 24, 2020. 7 /s/ Lara J. Taylor An Employee of Snell & Wilmer L.L.P. 8 9 10 11 12 | 13 | 16 17 18 19 20 21 22 23 24 25 26 27 28 _4-