Opinion
2:22-cv-00655-GMN-EJY
04-27-2022
SFR INVESTMENTS POOL 1, LLC, Plaintiff, v. WELLS FARGO BANK, NATIONAL ASSOCIATION AS TRUSTEE FOR OPTION ONE MORTGAGE LOAN TRUST 2007-6, ASSET-BACKED CERTIFICATES, SERIES 2007-6; DOES I through X; and ROE BUSINESS ENTITIES I through X, inclusive, Defendants.
ANDREW P. GORDON, UNITED STATES DISTRICT JUDGE.
STIPULATION AND ORDER TO ENJOIN FORECLOSURE SALE, POST BOND AND IMPOSE ADDITIONAL CONDITIONS OF INJUNCTION
GLORIA M. NAVARRO, DISTRICT JUDGE UNITED STATES DISTRICT COURT.
Plaintiff SFR Investments Pool 1, LLC (“SFR”) and Defendant Wells Fargo Bank, National Association as Trustee for Option One Mortgage Loan Trust 2007-6, Asset-Backed Certificates, Series 2007-6 (“Wells Fargo Bank Trustee”), by and through their counsel of record, hereby stipulate and agree as follows:
WHEREAS, on April 20, 2022, SFR filed a Complaint against Wells Fargo Bank Trustee, seeking quiet title to the real property located at 3409 Yorkminster Street, Las Vegas, Nevada 89129 (“Property”). ECF No. 1.
WHEREAS, on April 22, 2022, SFR filed an Emergency Motion for Temporary Restraining Order and Preliminary Injunction (“Emergency Motion”), seeking to enjoin the foreclosure sale under the Deed of Trust (ECF No. 7-1), currently set for April 29, 2022. ECF Nos. 6-7.
WHEREAS, also on April 22, 2022, this Court entered a minute order setting a briefing schedule and hearing on the Emergency Motion for April 28, 2022 at 9:00 a.m. ECF No. 8.
WHEREFORE, based on the foregoing, IT IS HEREBY STIPULATED AND AGREED that Wells Fargo Bank Trustee will be enjoined from foreclosing under the Deed of Trust, identified in ECF No. 7-1, until such time as this Court enters its determination of quiet title as to the parties' rights, title and interests in the Property and a final judgment.
IT IS HEREBY FURTHER STIPULATED AND AGREED that SFR shall continue to pay all taxes, insurance, homeowner's association assessments and any other amounts payable by the record owner of the Property to prevent the recording of any lien or encumbrance against title to the Property prior to entry of a final judgment.
IT IS HEREBY FURTHER STIPULATED AND AGREED that SFR shall pay a bond in the amount of $2, 000.00 as security for the injunction, pursuant to Fed.R.Civ.P. 65(c), within 24-hours of entry of the order approving this stipulation. Wells Fargo Bank Trustee reserves its right to move to increase the bond at a later point in the litigation if it appears that $2, 000.00 is insufficient.
IT IS HEREBY FURTHER STIPULATED AND AGREED that SFR hereby withdraws its Emergency Motion (ECF Nos. 6-7) and the related hearing on the Emergency Motion, set for April 28, 2022 at 9:00 a.m., shall be vacated.
IT IS SO STIPULATED.
IT IS SO ORDERED.
IT IS FURTHER ORDERED that Plaintiffs Emergency Motion for Temporary Restraining Order, (ECF No. 6), and Plaintiffs Emergency Motion for Preliminary Injunction, (ECF No. 7), are DENIED as moot.
IT IS FURTHER ORDERED that the Motion hearing currently scheduled for April 28, 2022, at 9:00 A.M. is VACATED.